Bitcoin

Key Metrics

Bitcoin Price

$54,146

0.35%

Change 1w

8.18%

24h Volume

$18,303,864,052

Market Cap

$1,069,528,508,256

Circulating Supply BTC

19,751,137 94.05%

Bitcoin (BTC) Fact Sheet

Bitcoin (BTC) is the first decentralized open-source cryptocurrency in existence. Bitcoin is a representation of a Layer-1 Peer-to-Peer (P2P) digital asset exchange system that enables the transfer of digital currencies from one person to another without relying on a central authority such as a bank, brokerage, or any other institution.

Bitcoin (BTC) was initially launched in 2009 by a pseudonymous person or group of people who used the alias "Satoshi Nakamoto," who published the original Bitcoin whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" in 2008.
Bitcoin is secure and prevents the double-spending issue in a decentralized way by utilizing a unique consensus mechanism known as Proof-of-Work (PoW), which uses SHA-256d-based cryptography to reach consensus.
Within this system, miners compete against one another in a race to verify the next blockchain block, which, once confirmed, gets added to the previous block, forming a chain. The winning miner wins a newly mined BTC cryptocurrency. This process typically takes 10 minutes to complete.
The maximum supply of Bitcoin (BTC) is capped at 21 million tokens. To ensure that they are not mined quickly, there is Bitcoin halving, where ever 210,000 blocks (or four years based on estimates), the mining rewards get cut in half.
Bitcoin (BTC) is not controlled by any company, government, or other entity, and is completely decentralized. Bitcoin nodes are run by the community and the code is open-source and guided by a consensus of top contributing developers.

What is Bitcoin (BTC)?

Bitcoin is a Peer-to-Peer (P2P) payment system created to fully operate without relying on a central authority to facilitate payment processing. It means that nobody controls Bitcoin, as all of it is based on a distributed ledger, where a set of computers spread out on a global scale are responsible for running the blockchain.

The distributed ledger ensures that the network is entirely immune to manipulation, as every computer responsible for mining the BTC cryptocurrency has a full copy of its public ledger. All of the transactions within the network can be viewed publicly as a result, and users are allowed to buy and sell BTC directly through one another.

The miners within the network are also referred to as validators, and nodes, among other names, are responsible for ensuring the network is secure. The Proof-of-Work (PoW) consensus mechanism achieves tamper-proofing based on the SHA-256d hash algorithm.

How is Bitcoin (BTC) Used?

Bitcoin (BTC) as a network is currently being used to transfer digital currencies, specifically, its native cryptocurrency which goes by the ticker symbol BTC.

A person with a cryptocurrency wallet with a public address can send a specific BTC balance to another person with a public address. The transaction time, known as the mining time, is typically around 10 minutes. Bitcoin (BTC) has a maximum supply of 21 million tokens. Another intriguing aspect surrounding Bitcoin is that it has implemented halving to ensure that all 21 million tokens aren't mined too quickly.

Within the blockchain, we have the distributed ledger – a shared database responsible for storing the data. Data within the blockchain gets scared by the encryption method utilized by Bitcoin. The information from the previous block is copied to the new block alongside the latest data. Then this block gets encrypted, and the transaction is finalized through the verification process done by the miners of the network.

When a transaction is fully verified, a new block gets opened, and a Bitcoin (BTC) cryptocurrency is created and given as a form of reward to the miner who verified the data successfully. This way, Bitcoin is used by users who want to make transactions online and miners who want to monetize their hardware by contributing it as a form of security for the blockchain.

Every 210,000 blocks, the mining rewards get cut in half. The reward began at 50 BTC in 2009; then the first halving was in 2012 when it split to 25 BTC, then in 2016 when the third halving occurred, meaning that the reward was split again to 12.6, and as of 2020, to an estimated length to 2024, the mining reward is at 6.25 blocks, after which it will decrease to 3.125 BTC.

Bitcoin is also censorship-resistant. It cannot be censored or controlled by a government or corporate entity. This aspect of Bitcoin makes it a genuinely free ecosystem.

Transactions throughout the Bitcoin network get verified by the nodes through cryptography. Additionally, every transaction on the Bitcoin network is stored on a block linked to a previous block of transactions. Bitcoin is fully immutable, and no entity can erase or alter any information that has already been recorded and approved on the network.

Use-Cases of Bitcoin (BTC)

Since its creation, numerous use-cases have emerged surrounding the Bitcoin (BTC) cryptocurrency. As the cryptocurrency industry evolved, so did the ways Bitcoin has been utilized thus far.

The blockchain network that the miner's power through the incentive of the BTC cryptocurrency provides a secure way through which people can quickly and efficiently conduct transactions on a global scale.

Anyone from anywhere in the world can send BTC as a cryptocurrency to any other person. What this also means is that the unbanked can also get access to financial services. For example, suppose someone could not access a traditional bank or banking system due to struggles surrounding political instability, hyperinflation, or any other issue. In that case, they could utilize a cryptocurrency wallet and send Bitcoin instead.

El Salvador became the first country on a global scale to make Bitcoin (BTC) legal tender, which means that the population can use the cryptocurrency to pay bills, taxes, or anything else in the country.

When we look at the business applications and use-cases surrounding the Bitcoin (BTC) cryptocurrency, we can also see that it has been utilized in various ways.

The immutable ledger in the blockchain makes it well-suited for completing tasks, such as real-time tracking of goods as they move and even change hands throughout the supply chain.

Then there’s the ability to store health data on the blockchain, including general information such as age, gender, medical history, or anything else, all of which gets permanently recorded on the blockchain and cannot ever be tampered with.

Usability & Primary Features of Bitcoin (BTC)

There are numerous features found within Bitcoin which have been added throughout its lifespan as a blockchain-based project.

Specifically, we have the following major updates and upgrades to the Bitcoin network:

Segregated Witness (SegWit) is a protocol upgrade that initially went live in August 2017. The primary purpose of this upgrade was to separate witness signatures from transaction-related data. Witness signatures within legacy Bitcoin blocks typically take over 50% of the block size. By removing them, the protocol increased the number of transactions stored within a single block. Ultimately, this led to the network's ability to process many more transactions per second.
Lightning Network is a Layer-2 micropayment solution specifically created to increase the scalability of the Bitcoin network. Its main goal is to enable near-instantaneous and low-cost payments between merchants and customers that aim to utilize the Bitcoin network. The Lightning Network was introduced in 2015 by Joseph Poon and Thaddeus Dryja. When we look at the Real-Time Lightning Network Statistics, there are currently 17,664 nodes that power the Lightning Network, making it one of the most significant developments within the blockchain. While a Bitcoin node must verify every transaction in the network, a Lightning Network node only has to check the validity of transactions with which it interacts directly.
Schnorr Signatures and Taproot - When Schnorr Signatures are implemented, multiple parties can collaborate to produce a signature valid for the sum of the public keys. This benefits network scalability. Taproot is the upgrade that introduced the Schnorr digital signature scheme into Bitcoin and contributed to upgrading its overall cryptography.

Ultimately, it is clear that all of these updates and upgrades to the Bitcoin blockchain had the primary purpose of increasing the transactions per second (TPS) and lowering the overall costs associated with conducting transactions on top of the Bitcoin network.

Protocol

The Bitcoin protocol is a peer-to-peer (P2P) network that operates on a cryptographic protocol. In a traditional sense, P2P relates to a network where each computer can act as a server for the others using the network and allows shared access to data without the need for a centralized server.

The users can send or receive Bitcoin (BTC) as a cryptocurrency by broadcasting digitally signed messages to the network using a cryptocurrency wallet.

Ledger

The Bitcoin ledger is fully responsible for anonymously maintaining the participants' identities and their cryptocurrency balances.

Furthermore, it also keeps a record of all of the genuine transactions executed between the network participants.

Smart-Contract Support

By default, at its original state and development, Bitcoin (BTC) as a network does not support smart contracts. Simple contracts that are indeed able to get executed on Bitcoin are typically low in terms of the functionality they can provide and normally highly costly.

Over the years, numerous developers and teams have been aiming to provide Bitcoin with the functionality and support for smart contracts in the form of a Layer-2 solution, something that sits above the main blockchain, or even as Layer-1 solutions connected to Bitcoin directly. Some examples include Rootstock (RSK), Liquid Network, Stacks, RGB, and Lightning, to name a few.

Tokenomics & Supply Distribution

When we look at the tokenomics and supply distribution surrounding Bitcoin (BTC), we need to go over the fact that the primary way through which the network reaches consensus and new blocks get created through the utilization of the Proof-of-Work (PoW) consensus mechanism.

Satoshi Nakamoto is the person or group responsible for mining the Genesis Block, which is essentially the very first block of the blockchain network. Through mining this block, Nakamoto essentially created the chain itself. However, Bitcoin is not pre-mined, and a cap of 21,000,000 BTC can ever be mined and brought into a digital existence.

It is essential to mention that Bitcoin halving occurs every 210,000 blocks and that the initial block reward was 50 BTC per block.

As of June 24, 2022, the current block reward is 6.25 BTC per block. It is expected that the next halving will occur by 2024 when we see a decrease to 3.125 BTC.

Team & History

An anonymous person or group created Bitcoin under the pseudonym "Satoshi Nakamoto." Bitcoin project is open-source and has a global development community.

As of 2022, there have been 872 contributors to the code of Bitcoin, and the chance is likely that this number will grow as the years move on.

You can refer to GitHub for the list of some of the most significant contributors to the Bitcoin code from August 30, 2009, to June 24, 2022.

Activities & Community

Bitcoin is the largest cryptocurrency in terms of market capitalization and popularity. It has the highest follower count, indicated by Bitcoin’s unofficial Twitter page, where the project had over 5.3 million followers at the time of writing.

Development Activity and GitHub Repositories

According to Bitcoin code data from GitHub, there have been 48 Active pull requests and 9 active issues from June 21, 2022, to June 28, 2022, in Bitcoin code.

Of those, 14 authors have pushed 46 commits to the master branch and 46 to all branches. On the master, 88 files have changed, and there have been 777 additions and 1,726 deletions.

On-Chain Activity

The average on-chain activity of the Bitcoin cryptocurrency is 243k tx within the last 7 days, with a high of 255.47k txs and a 7-day low of 199.78k txs.

There is a 30-day average of 41.22 million addresses, with its high point at 41.41 million and low point at 41.08 million addresses.

When we go over Bitcoin’s ownership over time ratio, we can see that there are 28.27 million addresses that are hodlers for over one year, which makes up 61.15%. 15.15 million addresses are cruisers, 32.77%, and 2.81 million addresses are traders, which make up 6.08%.

Activities and Partners

The partners of the Bitcoin network include:

Bitcoin Lightning Network - The Lightning Network depends upon the blockchain's underlying technology. Using genuine Bitcoin/blockchain transactions and its native smart-contract scripting language, it is possible to create a secure network of participants who can transact at high volume and speed.
Bitcoin Cash - the main goal of this project is to provide digital money to the world by fulfilling the original promise of the Bitcoin network. Merchants can utilize it for low fees and reliable confirmations.
Blockchair - a blockchain search and analytics engine for Bitcoin and Bitcoin Cash that can enable users to filter blocks, transactions, and outputs by 60 different criteria and perform text searches over the blockchains.
FEE - Foundation for Economic Education is a think tank in the U.S. that reaches hundreds of millions of users globally and has 20,000 students through classroom programs.

References & Reports

References

Market Reports

Bitcoin info

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More Articles About Bitcoin

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Top 5 Reasons Why HODLing is Returning to the Bitcoin Market and Why It’s Crucial

Aug 14, 2024

The concept of "Hodling" — holding onto Bitcoin for extended periods regardless of market volatility — has resurfaced with vigor in the 2024 crypto landscape. It's not only about Michael Saylor and MicroStrategy, and their copycats, of course. It's also about holding Bitcoin and not selling it every time the market is shaking. It's about the power of believing that Bitcoin is there to stay. It seems as, though this bull run is significantly different from previous one, HODLers are still the indicator of what we are expecting from Bitcoin. Why? Well, because HODLers are those guys, whose faith is the cornerstone of the market. They point to a bullish rise. Here are the top five reasons behind the resurgence of hodling. Institutional Confidence and Long-Term Investments Institutional investment in Bitcoin has hit unprecedented levels in 2024. Major financial institutions like Goldman Sachs have disclosed significant holdings in Bitcoin ETFs. Well, real Bitcoin fans probably don't care that much for financial sharks from Wall Street. But there is more to it. The sharks show confidence in Bitcoin’s long-term value. The put big buck in it. And that's a good sign. With over $418 million in Bitcoin ETFs, these institutions are not just participating in the market; they are setting a foundation for sustained value growth. The scale and duration of these investments demonstrate a shift from speculative trading to strategic accumulation. That's the HODLing as it is. No matter, how sharks call it. That's truly interesting. Institutional investors, by their nature, have a longer investment horizon and are less likely to engage in the rapid buying and selling that characterizes retail trading. This aligns perfectly with the hodling philosophy. So ETF buyers are the perfect HODLers. As institutions continue to pour capital into Bitcoin, their commitment to holding these positions for the long term helps stabilize the market, encouraging more investors to adopt a hodling strategy as a reliable path to wealth accumulation. The Halving Effect and Supply Constraints Satoshi was a genoius. Scarcity is the answer. The more people are eager for Bitcoin, the less Bitcoin is there on the market. Thus, Bitcoin’s unique economic model, particularly its halving events, plays a critical role in influencing market behavior. Just look at the most recent halving in 2024. It has further tightened Bitcoin’s supply, making each new coin more valuable. Historically, post-halving periods have been followed by substantial price increases, driven by the reduced rate of new Bitcoin entering the market. This supply constraint naturally encourages hodling. As the available supply decreases, the scarcity of Bitcoin increases, which in turn pushes up its value. Investors who understand this dynamic are more inclined to hold onto their Bitcoin, expecting higher returns as demand outstrips supply. The halving event is not just a technical milestone; it’s a psychological one that reinforces the hodling mentality across the market. Bullish Market Sentiment The resurgence of hodling is also a clear indicator of bullish sentiment in the market. HODLers are the fieriest bulls, there are no two ways about that. When investors collectively choose to hold rather than sell, Bitcoin rises imminently. This optimism is often self-reinforcing. And this is truly amazing. What happens when the reduced selling pressure surfaces? Well, it leads to higher prices. And as prices rise, more people decide to HODL. In 2024, Bitcoin’s price trajectory has been overwhelmingly positive, with the cryptocurrency recovering from past downturns and setting new highs. This upward momentum has emboldened hodlers. Many people start to see hodling as a strategy not just for weathering volatility but for maximizing returns in a bull market. Don't sell. It's just as see as it seems. The psychology of hodling is deeply intertwined with market sentiment. The more investors adopt this approach, the more they are able to amplify the bullish outlook. Security and Decentralization Concerns As the cryptocurrency market matures, so do concerns about security and centralization. High-profile hacks, regulatory crackdowns, and the centralization of exchanges have led many investors to reconsider where they store their wealth. Hodling, particularly in self-custody wallets, offers a way to maintain control over one’s assets, free from the risks associated with centralized platforms. In an environment where trust in third-party services is eroding, the appeal of hodling becomes even stronger. By holding Bitcoin in a secure, private wallet, investors can avoid the pitfalls of exchange hacks or sudden regulatory actions that might freeze assets. This control over one’s own financial destiny is a powerful motivator for hodling, especially among those who prioritize the core tenets of decentralization that Bitcoin was founded on. The Rise of Bitcoin as Digital Gold The narrative of Bitcoin as "digital gold" has gained substantial traction in 2024. More than ever, investors look at Bitcoin as a hedge against inflation and economic uncertainty. Unlike fiat currencies, which can be printed at will, Bitcoin’s supply is capped at 21 million coins, making it an attractive store of value in times of monetary expansion and economic instability. Scarcity is the key, remember? This perception of Bitcoin as a safe haven asset aligns perfectly with the hodling strategy. Just as gold investors typically hold their assets for long periods, often spanning decades, Bitcoin investors are increasingly adopting a similar approach. People tend to believe that Bitcoin will retain or increase its value over time. They see Bitcoin as a tool to resist the inflation. There is a rule of thumb - the less people believe in fiat currencies, the more they trust in Gold. And in Bitcoin, as of now. The digital gold narrative strengthens the case for hodling, as it frames Bitcoin not just as a speculative asset but as a cornerstone of long-term financial security. Conclusion Hodling is so much more than just a passive investment strategy. It’s a statement of belief in Bitcoin’s enduring value. As bold as it sounds, that statement it now as true as you can imagine. The factors driving its resurgence in 2024 — institutional confidence, the halving effect, bullish market sentiment, security concerns, and the rise of Bitcoin as digital gold — all point to a market that is maturing and stabilizing. While some people think Bitcoin should become an everyday payment tool, and are desperately looking for the means to make it real, the truth is so much simpler. As more investors embrace hodling, it reinforces the idea that Bitcoin is here to stay. it is not just as a speculative asset but as a foundational element of the global financial system. Key Takeaways: Institutional investments in Bitcoin are driving long-term holding strategies. The 2024 halving event has intensified supply constraints, encouraging hodling. Bullish market sentiment is reinforcing the hodling mentality. Security concerns are leading investors to prefer self-custody and long-term holding. The perception of Bitcoin as digital gold solidifies its role as a long-term store of value. The importance of HODLing can't be overstated. It's return to the forefront of the Bitcoin market is significant. It reflects a maturing market where long-term value takes precedence over short-term gains. Maybe that is the sign that Bitcoin’s evolution as a global financial asset is in fact continuing.

Resurrecting the True Ideas Behind DeFi

Jul 24, 2024

Crypto was supposed to liberate people from the oppression of the traditional financial system, but this has not happened so far. Mostly because the world of cryptocurrencies is still dominated by ideas of crypto anarchism rather than crypto mutualism as it should be. What can be done to turn DeFi into a real financial empowerment tool, according to Camille Meulien, CEO of Yellow Capital. The emergence of decentralized finance (DeFi) and the surge of crypto markets heralded what many believed would be a groundbreaking financial revolution. Enthusiasts envisioned a future where individuals could emancipate themselves from the constraints of traditional banking systems, accessing financial services that were open, transparent, and verifiable by anyone. The promise was alluring: a democratized financial ecosystem free from the control of centralized institutions. However, as with many revolutionary concepts, the practical implementation has proven to be far more nuanced and complicated. The initial vision of crypto anarchy is in stark contrast with the present state of the cryptocurrency market, where issues such as power imbalances, market manipulation, and re-centralization present substantial obstacles to the original ideals. Let’s see what went wrong and how do we fight back to make DeFi what it is supposed to become. Camille Meulien The Promise of DeFi and Crypto Anarchism Crypto-anarchy: A vision of digital freedom Crypto-anarchy champions privacy and economic liberty. It uses cryptography to secure online communications. Tim May coined the term in 1988, well before Bitcoin's 2008 debut. May's manifesto was bold. He wrote: "Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions." DeFi later emerged as a game-changer. It offered a way to dodge traditional banks. Anyone with the internet could access financial services. No middlemen needed. The pitch was simple. Lower fees. Faster transactions. Finance for all. Blockchain tech underpinned DeFi. It promised transparency and security. Every transaction was out in the open. You didn't need to trust anyone. This tech shift aimed to deliver on crypto-anarchy's dream. A free and fair financial system for everyone. The Harsh Reality: Market Manipulation and Centralization The Persistence of Traditional Finance Flaws Despite the revolutionary promise of Bitcoin and the subsequent rise of numerous other cryptocurrencies over the past 15 years, the crypto market and decentralized finance (DeFi) have not been immune to the same flaws that plague traditional finance and neo-capitalism. Whales and Market Manipulation Despite its egalitarian ideals, the crypto market has been susceptible to significant manipulation. Large holders, known as whales, wield the power to influence market prices drastically. By executing large trades, they can create volatility that smaller investors cannot withstand. These manipulations often lead to substantial losses for small investors, who lack the resources to respond swiftly to sudden market fluctuations. Consider Bitcoin, the flagship cryptocurrency. Documented instances of price manipulation by whales demonstrate how large-scale buy or sell orders can drastically impact market prices. The involvement of influential companies like MicroStrategy and Tesla in Bitcoin investments has highlighted how powerful entities can sway market sentiment and drive price movements, often leaving smaller investors in precarious positions. Elon Musk exemplifies how influential figures can impact the crypto market. His tweets have caused significant price swings in cryptocurrencies like Bitcoin and Dogecoin. Initially playful interactions with the crypto community have evolved into demonstrations of how a single individual can manipulate market dynamics, raising concerns about the market's stability and fairness. Media Influence and Public Perception In the crypto world, as in traditional media, the concentration of power and money can distort public perception. Media outlets, influenced by their financiers, can shape narratives that serve specific interests. For instance, portraying certain cryptocurrencies as superior investments can drive herd behavior among retail investors, often leading to speculative bubbles. Institutional Involvement As cryptocurrencies gained mainstream attention, traditional financial institutions, banks, and governments began entering the market. This influx of institutional money brought both legitimacy and centralization. Drawing a parallel to the early days of the internet—initially seen as a free and open space—the control eventually shifted to major corporations like Google, Apple, Facebook, Amazon, and Microsoft (GAFAM). Similarly, the crypto market is witnessing a consolidation of power where large institutions exert significant influence, potentially undermining the original decentralized ethos. The Need for Regulation While regulations seem necessary to protect investors and users, there have been numerous instances where crypto companies have emptied accounts and disappeared. Mass adoption of crypto banking will not occur without increased security measures. On a larger scale, economies cannot rely and function with this level of risk. Recent regulations in the US and Europe aim to address these issues. For example, the European Union’s Markets in Crypto-Assets (MiCA) regulation seeks to create a harmonized regulatory framework to protect investors and ensure market integrity. While these regulations offer benefits such as increased security and investor protection, they also pose challenges, potentially stifling innovation and compromising the decentralized nature of the market. Short-Term Oriented Investment The market’s obsession with quick returns discourages investment in projects with long-term visions and real ambitions. This short-term orientation can hinder the development of transformative technologies and applications within the crypto space. Projects that require years to realize their full potential struggle to attract the necessary investment, potentially stifling innovation and progress in the industry. Balancing Freedom and Security The challenge lies in maintaining freedom and decentralization while limiting risks and fostering a thriving and dynamic market. Establishing a regulatory framework that protects investors without compromising the core principles of decentralization is crucial. By addressing these complexities and challenges, the crypto market can strive towards a balanced and equitable financial ecosystem, preserving its revolutionary potential while ensuring security and fairness for all participants. Fighting Back: Strategies for a Decentralized Future Independent Media and Information To counteract the influence of concentrated power in the crypto media, independent and unbiased information sources are crucial. Independent media can play a pivotal role in educating the public by providing objective analyses of the crypto market and promoting a deeper understanding of the technology and its potential. By presenting fact-based reporting and in-depth research, independent media can help investors make informed decisions and reduce the impact of sensationalism and market manipulation. There is a pressing need for independent researchers and journalists to conduct thorough analyses of crypto projects. By synthesizing complex information and presenting it in an intelligible form, they can make it easier for the public to understand and evaluate the true potential and risks of different projects. Detailed and unbiased research can expose scams and highlight promising innovations, guiding investors towards more responsible and informed investment decisions. Wise Investment Choices Investors need to adopt a discerning approach to their investment choices. Rather than chasing short-term gains, they should evaluate the long-term potential and vision of projects. Supporting companies and projects that adhere to the principles of decentralization, transparency, and inclusivity can help foster a more equitable crypto ecosystem. This involves looking beyond hype and marketing, focusing instead on the fundamental value and sustainability of projects. Creating New Narratives The vision of Tim May's crypto-capitalism, characterized by a free-market approach, is evident in today's crypto market. However, an alternative vision, crypto mutualism, offers a different path. Crypto mutualism is an ideological framework that envisions a decentralized economy built on the principles of mutualism. Mutualism advocates for a society where individuals and cooperative groups exchange products and services based on mutual benefit. For the crypto market to be widely adopted and beneficial to economies, it needs to be seen not just as a speculative stock market but as a real currency enabling the purchase of services and items, real-world assets. This shift requires a change in narrative and public perception. Crypto Mutualism Crypto mutualism is shaking up digital finance. It's mixing old-school mutualism with new blockchain tech. The idea? To change how we think about money and business. At its heart, crypto mutualism is all about working together without middlemen. Blockchain makes this possible. People can trade directly with each other, cutting out banks and other go-betweens. Shared ownership is a big deal here. Think of DAOs - they're like companies, but run by all the members. Everyone gets a say in decisions. It's a whole new way of doing business. This system puts communities first. It's not just about making money, but about helping everyone in the group. The goal is to share resources more fairly. One cool feature is mutual credit. It's like lending, but based on trust between people. Often, there's no interest charged. This could help folks who can't get loans from banks. Reframing the Purpose of Crypto Evading taxes and institutional control cannot be the sole aim of the crypto economy, as this would undermine societal structures and potentially accelerate societal collapse. Creating and supporting new narratives that challenge the status quo is essential. Instead of viewing crypto solely as a speculative investment, it should be seen as a tool for financial inclusion and empowerment. Promoting stories that highlight how crypto can address real-world problems, such as providing financial services to the unbanked or enabling transparent charitable donations, can shift the focus towards the positive impact of the technology. By fostering a more informed, equitable, and community-focused crypto ecosystem, the original ideals of decentralization and financial freedom can be more fully realized.

10 Most Underestimated Geniuses of the Crypto World

Jul 02, 2024