Bitcoin is special. It is the only cryptocurrency that is distributed the most around the world, but that’s not what makes it special. It is special because Bitcoin uses something called “Proof of Work”. Think about what is valuable. Let us take Gold as an example,...
Why Bitcoin?
Bitcoin is a hedge against the devaluation of any fiat currency otherwise known as inflation. Bitcoin is censorship resistant. There is no one that can tell you what you can do with your Bitcoin. Many will say that about Banks, but try and withdraw a large amount of...
Why Do People Initially Dismiss Bitcoin?
There are several reasons why people dismiss Bitcoin. One of the first reasons is because they fall into the “I heard…” category. I heard that Bitcoin is used for illegal activities. I heard that Bitcoin is used for gambling and drugs. I heard that Bitcoin is dead. I...
Why Should I Use My Own Node in Software?
All bitcoin wallet software must use a node to verify and broadcast transactions. When you first run a bitcoin wallet software, it uses a PUBLIC node to verify every transaction in your wallet. This is a privacy issue because now that public node has logs that your IP...
Why Should I Run a Bitcoin Node?
Running a bitcoin node isn't directly profitable like mining, instead it keeps everyone on the same set of rules. Running a node is easy and can be done on as little as a raspberry pi, an old computer (laptop or desktop), and represents—freedom, security, and...
Why Create Bitcoin?
There is a flaw with our current currency and money system. It is a system based on debt. What's wrong with debt? Debt doesn't exist until it is created. Once it is created, interest must be paid on the debt. If you don't have any more available money, you must create...