What's makes Bitcoin so special

[Itz-prisigold]

Be a decentralized currency is what make Bitcoin special to people op. Even governments that have their own currency value Bitcoin that is a decentralized currency and some of the government are investing in Bitcoin by holding for long years before they can sell to accumulate their wealth.

You actually came up with a very good point. In fact, the great thing about Bitcoin is that Bitcoin doesn't need all people to accept it for it to be successful.  As long as they have access to the network and their private keys, anyone can still hold Bitcoin for Long term and also transfer their Bitcoin.

Unlike the normal financial system, in which you need to depend on the banks, payment companies or others who are between you and your cash.  That's why Bitcoin is so special compared to any other investment, as you see, everyone has the freedom of ownership.

[BItcoin Guy@]

You actually came up with a very good point. In fact, the great thing about Bitcoin is that Bitcoin doesn't need all people to accept it for it to be successful.  As long as they have access to the network and their private keys, anyone can still hold Bitcoin for Long term and also transfer their Bitcoin.

Unlike the normal financial system, in which you need to depend on the banks, payment companies or others who are between you and your cash.  That's why Bitcoin is so special compared to any other investment, as you see, everyone has the freedom of ownership.

Bitcoin will always be special since it is uncontrollable by anyone. You can invest anytime and keep everything safe, with no one having access to it except who you probably share your phrase with. Many countries don’t really like bitcoin because they are looking for a way that they can control it so that they can be getting some fees or tax. But they see it is not working for them, and that is another thing that makes it so special. When you have bitcoin, you have the freedom to do anything you want to do with it. And no one can know exactly what you have in a wallet. Everything is self-custody.

[#CapsLOck]

I would add that what makes Bitcoin so special is that it's not just a scarce resource or something that's decentralized. It's also predictable. No one should have to trust a company to decide on the number of Bitcoins that can exist. Or employ a monetary policy when it is convenient. The network's consensus rules implement the supply schedule. And it can be verified by anyone independently. Unlike entrusting a bank or company to maintain the value and rules of a monetary system. The predictability of course. Does not eliminate price volatility or risks at the user level. But it does provide a unique quality to Bitcoin's money.

[drangos]

Something that can be over looked is the fact that Bitcoin is an asset system. Which functions without ownership and without permission. Moving money on a bank account is dependent upon the institution recognizing and approving your account. Bitcoin doesn't require anyone to know who you are. The transaction doesn't need to have a reason it only needs to obey the protocol rules and you need to possess the private key. However that doesn't mean that Bitcoin is risk free. Since if you lose your keys or get scammed. It's your own fault. But to me, one of the most critical aspects that differentiates Bitcoin from traditional money is this shift in the trust model.

[iBaba]

I would add that what makes Bitcoin so special is that it's not just a scarce resource or something that's decentralized. It's also predictable. No one should have to trust a company to decide on the number of Bitcoins that can exist. Or employ a monetary policy when it is convenient. The network's consensus rules implement the supply schedule. And it can be verified by anyone independently. Unlike entrusting a bank or company to maintain the value and rules of a monetary system. The predictability of course. Does not eliminate price volatility or risks at the user level. But it does provide a unique quality to Bitcoin's money.

I think the most underrated part of bitcoin is predictability, only scarcity is not enough if the rules around it can be changed by a central authority, With bitcoin supply rules are built into the protocol and anyone can verify them. But that does not make bitcoin risk free because the market price can still change heavily and users can lose funds through poor security. So having monetary policy that does not depend on trusting a company, bank or government gives bitcoin a different value and anybody can independently verify the rules is what makes that predictability more powerful.

[LUCKMCFLY]

What makes Bitcoin special is that anyone can join and acquire at least a share. If you acquire a piece of Bitcoin, you're already in the game. The good thing is that once you're in, you want to acquire more. Furthermore, it's superior to gold, holds immense long-term value, doesn't depend on third parties, and governments can't control it. It's strictly governed by supply and demand, and its adoption is growing all the time. It's the best economic technology that could have been invented.

Sometimes I think Bitcoin wasn't just created by normal means—that it almost had divine or otherworldly inspiration. Creating such a resilient economy through blockchain technology has completely undermined the modern financial system, which is riddled with structural vulnerabilities.

[Abiky]

What makes Bitcoin special is that anyone can join and acquire at least a share. If you acquire a piece of Bitcoin, you're already in the game. The good thing is that once you're in, you want to acquire more. Furthermore, it's superior to gold, holds immense long-term value, doesn't depend on third parties, and governments can't control it. It's strictly governed by supply and demand, and its adoption is growing all the time. It's the best economic technology that could have been invented.

Sometimes I think Bitcoin wasn't just created by normal means—that it almost had divine or otherworldly inspiration. Creating such a resilient economy through blockchain technology has completely undermined the modern financial system, which is riddled with structural vulnerabilities.

This holds true if Bitcoin stays decentralized and censorship-resistant. But centralizing forces want to limit Bitcoin's potential to reach the masses. Like recent regulations making it more difficult to acquire some BTC. You'd need to comply with KYC and several other strict requirements to buy/sell Bitcoin. Assuming you use the traditional Fiat on/off ramps. P2P trading platforms and DEXs (decentralized exchanges) are our only hope.

Besides decentralization, Bitcoin is so special because it's the most predictable asset/commodity in the world. It has a fixed supply, unlike Gold and other valuables. Best of all, you can carry Bitcoin anywhere in the world without bringing unwanted attention. This portability factor allows you to carry BTC even in the most unimaginable places. You can travel with BTC, but you cannot travel with Gold bars or bullion. Hopefully, more people get to join the revolution as the community continues to spread the word.

[Antotena]

You actually came up with a very good point. In fact, the great thing about Bitcoin is that Bitcoin doesn't need all people to accept it for it to be successful.  As long as they have access to the network and their private keys, anyone can still hold Bitcoin for Long term and also transfer their Bitcoin.

It does not but it still need people to grow. If you look at the Bitcoin market cap, it's sitting around 1.5 trillion equivalent price of $80k. Do you think the available money can make it go as high as 32T and above to compete with Gold and other world class assets with the largest market cap? Even the 1.5T it's traded wasn't done by few people, the money came from different people that bought, they are the reason why the price is here trading this high.

Unlike the normal financial system, in which you need to depend on the banks, payment companies or others who are between you and your cash.  That's why Bitcoin is so special compared to any other investment, as you see, everyone has the freedom of ownership.

The regular financial market is controlled by the government and they control how the money flows. If the government want an asset to be valuable, it's small thing for them. If they want Bitcoin to be near up high like Gold, they can do it but they will not because they don't contol the supply. The government plays a vital role in stability of things, even if they don't play part in the price, they can play a major role in adoption and price.

[HustleZ]

[…]

Aside from the different specialities you showed of bitcoin it has something unique too and that is it being formless and shape less, bitcoin doesnt have any physical form which makes it easier for us to transfer it to any country we move and any place we change without all the effort. You are notnlocked to a specific region, for example gold has physical form and is veru heavy so carrying it becomes hard consequently transporting it becomes harder, so yeah this is the one speciiality of bitcoin i like

[ZAINmalik75]

Aside from the different specialities you showed of bitcoin it has something unique too and that is it being formless and shape less, bitcoin doesnt have any physical form which makes it easier for us to transfer it to any country we move and any place we change without all the effort. You are notnlocked to a specific region, for example gold has physical form and is veru heavy so carrying it becomes hard consequently transporting it becomes harder, so yeah this is the one speciiality of bitcoin i like

It's basically borderless, which means you can send it to any country without any problems or restrictions, and this actually is a lifesaver if one understands. Someone who needs to send some funds to another person who lives in another country, and if this person uses banking channels or traditional financial systems or money transferring methods, they are going to have to pay a lot of money in fees, taxes and everything, will need to spend so much time trying to complete the process to finally be able to send them, and then the receiving person will need to do the same thing, wait for so many days, keep asking if the funds have arrived or not, etc.

With Bitcoin, if both parties know how to send and receive bitcoins and how to also sell them for fiat, it becomes extremely easy. One just needs to get the receiving bitcoin address, and send the funds, and within a few minutes, they are received on the other hand, and then the receiver can go ahead and sell them for fiat and get the funds in their bank account within the country they are living in. Problem solved in no time without any difficulties or delays.

[L E G E N D A R Y]

I would add that what makes Bitcoin so special is that it's not just a scarce resource or something that's decentralized. It's also predictable. No one should have to trust a company to decide on the number of Bitcoins that can exist. Or employ a monetary policy when it is convenient. The network's consensus rules implement the supply schedule. And it can be verified by anyone independently. Unlike entrusting a bank or company to maintain the value and rules of a monetary system. The predictability of course. Does not eliminate price volatility or risks at the user level. But it does provide a unique quality to Bitcoin's money.

For me, one thing that I particularly find really intriguing about Bitcoin is the certainty built into its monetary system. The fact that its rules isn’t in any way tied to any financial system or even dependent on the government, bank or company, I mean it’s just so fascinating how anyone can just independently verify how the system works. And this transparency in the system has also created a high degree of trust amongst its users. Yes, Bitcoin price is indeed very volatile, but the fact that its monetary policy is actually quite predictable kinda makes it fundamentally different from the centralized and traditional monetary system.

[Faisal2202]

Hackers can’t do anything with the wallet you are holding your bitcoins unless you give them the avenue the can use to attack you. When you understand this very well and you don’t give room to hackers to penetrate your wallets, there is nothing they can do. That’s why the responsibility of keeping our wallets safe is placed on the investor’s shoulders. You own the money, you know how hard you worked to buy those bitcoins, so it is believed that only you can protect it better than anyone else. Keep your wallets updated. And one very important thing we should know is that the kind of wallets an investor uses, will determine how vulnerable your assets are for to these scammers to penetrate.

When you said you own the money and you should keep your wallet or money secure, not anyone else, this was where I started to think, wait a second. People these days, even I, think banks are the safest place to hold your funds. There was a point in my country where the state bank said we are not responsible for your cash if a small bank loses your money. Like literally that was the statement. They don't give too many statements, but when they do, they shock most of us.

That statement was not spread by any influencers. Instead, it was tried to be suppressed, so less would know, and eventually it dies out, but they made sure people remember that a TikToker has died 2 years ago, and how. I respect TikTokers, but what about the most important points?

We should not trust anyone. They can play with our money, and the only chain that keeps us and banks together is our trust in them. They don't trust you haha, they can say your funds are seized over a small issue.

[hmbdofficial]

Be a decentralized currency is what make Bitcoin special to people op. Even governments that have their own currency value Bitcoin that is a decentralized currency and some of the government are investing in Bitcoin by holding for long years before they can sell to accumulate their wealth.

Two things I consider what make bitcoin special in every aspect, the first has to be that because of its decentralized nature it, freedom you get when you know you are in charge of the whole situation of your transaction it what I consider one of the most important aspects that made it special

Secondly I’ll say its volatility nature, if the bitcoin was not volatile in nature I don’t think it will make any difference with the stable coins as the it implies, and a lot of people will not Even want to adopt it because holding it for long will not necessarily give you any profit since its not volatile to swing price.

[Jubilee58]

To me many things makes Bitcoin a special cryptocurrency. At first, Bitcoin is a decentralized cryptocurrency which no institution or government can control, and some government have made several attempts trying to keep Bitcoin under the control of the government, but all the effort was no avail. The creator of Bitcoin is anonymous, he is no where to be found, and has no control over Bitcoin like the other cryptocurrencies are linked to one creator or the other. It is observed that Bitcoin controls the entire cryptocurrency market because each time you see the price of Bitcoin dropping, other coins or cryptocurrency follows suit, and vice versa. More also, when it comes in time of growth, no digital asset, not even any altcoins has outperformed the growth of Bitcoin in the history of digital asset, and this is also what makes Bitcoin well known. Bitcoin has remained special, and more special than any other digital assets. It has recorded an outstanding growth on the long run which no other cryptocurrency or digital asset has not immitated.

[PVequalNRT]

Something that can be over looked is the fact that Bitcoin is an asset system. Which functions without ownership and without permission. Moving money on a bank account is dependent upon the institution recognizing and approving your account. Bitcoin doesn't require anyone to know who you are. The transaction doesn't need to have a reason it only needs to obey the protocol rules and you need to possess the private key. However that doesn't mean that Bitcoin is risk free. Since if you lose your keys or get scammed. It's your own fault. But to me, one of the most critical aspects that differentiates Bitcoin from traditional money is this shift in the trust model.

The fact that Bitcoin itself can't be recreated and have the kind of love and support from people make it special. All the fork coins that were created out of Bitcoin are dead, the new created coins to be like or better than Bitcoin are dead and if anyone attempted to create another one will end up the same faith, there is no asset that has this kind of love anywhere.

If you see a person hating on Bitcoin, he is doing so from hatred or because they couldn't bought when the price was low and it's paining them.

[Nwada001]

I think the most underrated part of bitcoin is predictability, only scarcity is not enough if the rules around it can be changed by a central authority, With bitcoin supply rules are built into the protocol and anyone can verify them. But that does not make bitcoin risk free because the market price can still change heavily and users can lose funds through poor security. So having monetary policy that does not depend on trusting a company, bank or government gives bitcoin a different value and anybody can independently verify the rules is what makes that predictability more powerful.

You only lose money when you sell your bitcoin. If you don’t sell, your value can drop, but the unit will still remain the same: 1 BTC will keep on being 1 BTC unless it is spent. We only have realized and unrealized profit. If the value drops due to market change, you can hold for long until the market regains its strength, and you will see your profit back.

Security: While we are our own chief security officer, we also need to select which software should be used to generate our seed phrase. Get it right, and your coins will be saved.

[Abiky]

The fact that Bitcoin itself can't be recreated and have the kind of love and support from people make it special. All the fork coins that were created out of Bitcoin are dead, the new created coins to be like or better than Bitcoin are dead and if anyone attempted to create another one will end up the same faith, there is no asset that has this kind of love anywhere.

If you see a person hating on Bitcoin, he is doing so from hatred or because they couldn't bought when the price was low and it's paining them.

I wouldn't say all the fork coins that were created out of Bitcoin are "dead". Because Bitcoin Cash (BCH) and Bitcoin SV (BSV) are still alive. They're essentially "Bitcoin spinoffs". The same history of blocks up until the time of the fork. Other coins haven't been that lucky, though. There were efforts to make a new fork out of Bitcoin again, but it ultimately failed. It was supposed to be a fork that would censor Ordinals inscriptions and anything else not "financial-related" from the Bitcoin blockchain.

What makes Bitcoin special is its deflationary design. It has a fixed supply with a predictable emission model. No other asset/commodity on Earth compares to it. Haters are always going to hate. Especially if we're talking about bankers, or government officials. They love the Fiat monetary system because it doesn't expose their corrupt activities. They control it, anyways. Bitcoin can't be controlled by anyone. Let's just hope it stays true to its roots forever.