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All Cryptos > Bitcoin (BTC)

Bitcoin (BTC)

#26

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly through the use of cryptography, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.


Bitcoin (BTC) Pros | 5

Store and tranfer of value totally independant of governments and intermediaries such as banks

Agree | 5
Disagree | 0
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Deflationary by nature due to limited supply

Agree | 5
Disagree | 0
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The first and most well known cryptocurrency, with the biggest market cap by far.

Agree | 4
Disagree | 0
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Widely accepted in many establishments, with a well developed backbone and auxiliary services, making it more accessible.

Agree | 3
Disagree | 0
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Supports second layer solutions like the lightning network to tackle fees. Also supports Segwit tx's and soon to add Schnorr signatures to reduce tx fees.

Agree | 2
Disagree | 0
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Bitcoin (BTC) Cons | 7

Rising transaction fees.

Agree | 5
Disagree | 1
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Very low transaction capacity when compared to popular payment methods such as VISA

Agree | 2
Disagree | 0
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Still largely dependant on centralized exchanges, which may be hacked, shut down, or have their bank accounts blocked.

Agree | 2
Disagree | 0
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transactions take way to long

Agree | 2
Disagree | 0
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needs to use use adam backs tab system

Agree | 1
Disagree | 0
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