What's makes Bitcoin so special

[oll]

Everyday as I wake up I find Bitcoin so interesting and so special to me.

I study everyday and keep finding the benefits in Bitcoin, this makes me to understand that Bitcoin is the first decentralized borderless digital money that functions massively without the control of the government or bank.

...

What really makes Bitcoin so special is that it creates scare digital money without a central authority to give order.

Bitcoin still hasn't lost its properties since its launch. We've lost count of the "Bitcoin killers" who've all sunk into oblivion, and no one remembers the names of these shitcoins. That's why, for years after the ICO boom, I haven't heard anyone attempting to claim such a title. After all, everyone now knows that this new cryptocurrency will receive a wave of hate from Bitcoiners for attempting such a comparison. And it will be justified.

You know, I like to compare Bitcoin to an airplane project that had essentially one chance of successfully taking off after the design stage. And Bitcoin achieved this thanks to Nakamoto's genius. I can't imagine how anyone could have thought through every detail of their brainchild so meticulously.

[Gost ms]

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.

Yes, everyone is so interested in Bitcoin because of this financial freedom and security of Bitcoin, especially if someone tells me, I will definitely tell this picture. Because through Bitcoin, our money is not from any third party or second party or none of them have any hands. Bitcoin is the strongest in terms of security. One of the ways to protect ourselves from inflation is Bitcoin, etc., everything has attracted us towards Bitcoin.

Currently, we are seeing a lot of bank corruption. Many people are keeping money in banks but they are not able to withdraw that amount of money. If we keep our money in Bitcoin, then we will never face such corruption.

[BitBakerr1]

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.

The fact that bitcoin is not controlled by anyone or by the government is one thing that makes bitcoin so special and again being able to observe and predict how bitcoin will be in years to come is one thing that is actually in every other cryptocurrency.
The prediction that you may make on how bitcoin will perform in the future may be wrong because no one knows exactly what will happen to bitcoin in years to come same thing goes to other cryptocurrencies even though they have or are been controlled by some set of people, in come cases even them really don’t know how it will perform in years to come.
But every being able to independently verify how the system works is actually the difference between bitcoin and other cryptocurrencies.

[SeriouslyGiveaway]

The fact that bitcoin is not controlled by anyone or by the government is one thing that makes bitcoin so special and again being able to observe and predict how bitcoin will be in years to come is one thing that is actually in every other cryptocurrency.

Governments so far have not controlled Bitcoin and they will not be able to control the blockchain in the future too, it's very important. It's big difference with altcoins which are not controlled by governments now but if they want, they can do it anytime in the future.

Governments don't need to control Ethereum blockchain, Binance Smart Chain to freeze stablecoins that are considered as belong to criminals. They can make a legal request to stablecoin companies, and ask these companies to freeze stablecoins in specific addresses.

With Bitcoin, they can not do that, and no company can freeze bitcoins stored in non custodial wallets of any other companies or people.

[L E G E N D A R Y]

The fact that bitcoin is not controlled by anyone or by the government is one thing that makes bitcoin so special and again being able to observe and predict how bitcoin will be in years to come is one thing that is actually in every other cryptocurrency.
The prediction that you may make on how bitcoin will perform in the future may be wrong because no one knows exactly what will happen to bitcoin in years to come same thing goes to other cryptocurrencies even though they have or are been controlled by some set of people, in come cases even them really don’t know how it will perform in years to come.
But every being able to independently verify how the system works is actually the difference between bitcoin and other cryptocurrencies.

You see, predicting the future of Bitcoin is probably less important than understanding what can be verified today. It’s very possible for a person to completely predict the price wrong, but understanding the rules, supply, transactions and the potential risks involved helps them to make decisions based on facts and not just someone’s confidence or feelings about the future.

[uche6215]

Apart from the fact that it has a resilient cryptographic security system and that it can be used by anyone anywhere anytime with an internet connection without any other third party acting as an intermediary, thanks to its decentralization set up.. For me, what really makes Bitcoin very special is that it helps shifts one mindset to focus more on generating generational wealth instead of instant and short term gains.

[Grease5000]

What I find interesting about bitcoin is that you don't have to depend completely on a bank to own it.

You can buy bitcoin, keep it in your own wallet and learn how to protect it yourself. I also like the fact that the supply is limited so nobody can just decide to create more whenever they want.

Though I am still learning about bitcoin, but I think the combination of limited supply and having control over your own money is what makes it special to me.

[AYOBA]

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.

That’s just the fact about Bitcoin even though anyone make attempts to recreate Bitcoin I don’t think it can be standard and have values like the first bitcoin. Because if take look at the Bitcoin it has been a while since it was created and up to day it doesn’t look like something that will lose value, and that’s why Bitcoin has so much support and the same been special to each an everyone.

[SmartCharpa]

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.

That’s just the fact about Bitcoin even though anyone make attempts to recreate Bitcoin I don’t think it can be standard and have values like the first bitcoin. Because if take look at the Bitcoin it has been a while since it was created and up to day it doesn’t look like something that will lose value, and that’s why Bitcoin has so much support and the same been special to each an everyone.

Everyone using Bitcoin today believes that it was created to be something that cannot be controlled by anyone even the government itself. Bitcoin has been around for a long time and it has proved its value to many investors for over the years now. Other coins may be cheaper than Bitcoin, or give quick profit in a short time, but we cannot guarantee if they can survive for the long term the way Bitcoin has survived over the years.

It will be difficult for any coin to replace Bitcoin at this point. It is not easy to build a strong reputation around the world. How can another coin survive long enough and overcome Bitcoin long history? The majority of people believe Bitcoin other than their local banks. They believe their money has a chance to increase in value over the long term.

[hd49728]

Everyone using Bitcoin today believes that it was created to be something that cannot be controlled by anyone even the government itself. Bitcoin has been around for a long time and it has proved its value to many investors for over the years now. Other coins may be cheaper than Bitcoin, or give quick profit in a short time, but we cannot guarantee if they can survive for the long term the way Bitcoin has survived over the years.

Bitcoin was created by Satoshi Nakamoto with that vision but only his vision for the project and his development contributions for Bitcoin project and communities are not enough. How people and Bitcoin community have adopted Bitcoin, how they used the blockchain are all other important contributions for maintaining and even strengthening Bitcoin decentralization.

These things are very important for Bitcoin existence and success in long term towards the future. People need to know that, then practice rightly with their investment from buying, accumulation, storage and holding to wait for profit.

How to manage Bitcoin like a whale?

[Hamza2424]

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.

Have you ever used BTC or any crypto for this purpose? I have used it for this. I used Binance, and Binance, like any other CEXs, works fast. Here you press send, and there the receiver will receive the coins, then they can sell them via P2P.

Binance works better, that's why it's the first choice, and by better I mean we get better deals on P2P on Binance. I have used some others too, but if you face any problem, then the team is not very supportive. But this does not add any value to BTC's adoption, does it?

[Hyphen(-)]

Bitcoin is so special today because of this features below
* Self withholding without operating on central authority.
* Security system
* Transparency rules
* Hard to censor

What really makes Bitcoin so special is that it creates scare digital money without a central authority to give order.

Many things makes Bitcoin so special, and these things you mentioned are among them.
One important thing is it’s decentralized features; it makes it easy to hold without stress, no government control unless if you decide to use centralized exchanges to hold your Bitcoin or to send and receive your Bitcoin, but if you use Bitcoin in decentralized exchanges, you will be free and have no privacy to submit to any third party platform.

Furthermore, Bitcoin’s limited supply makes it so special, and it will make it maintain its value for long and keep having value because miners rewards is also reducing; therefore, there will be high demand always and due to limited supply, the price of Bitcoin will keep going up with time.

[Queen uloma]

I totally agree that it’s all this combination that makes bitcoin really special. Personally for me, the most important aspect of bitcoin is that, you have control of your money, and you can send it to a different person without needing bank approval always.

Decentralized and transparency nature of bitcoin also make the system different from every other financial systems. But we still need to have it at the back of our mind that bitcoin security partly depend on the user, most especially how to protect your private keys and seed phrase.

[DiMarxist]

Aside from it being a digital currency.
It's scarce, it is borderless, you can own it your self, due to it's decentralised nature it's not being controlled from a single point so we don't have to fear about it crashing, it's transactions are transparent with an open system, you can read the code, I can read the code it's also affordable.

Of all the properties of Bitcoin that makes it stand out it's the fact that, Bitcoin is scarce. Just like any product that is scarce Bitcoin has a maximum amount of supply that will ever be in circulation and when once that total supply is reached you can't be talking about mining Bitcoin again. I believe that Bitcoin price will be something else when we get to the stage in the history of Bitcoin because we have a limited amount of Bitcoin that is available. That scarcity is one factor that has helped Bitcoin stand out as it's not like any other crypto currency that has an unlimited number of supply in circulation.

[moneystery]

...
but I think the combination of limited supply and having control over your own money is what makes it special to me.

The combination of limited supply and self-custody is really great, but that's not what makes Bitcoin more special because those features also exist in other altcoins. It's the decentralization that makes it much stronger. Without decentralization, anyone could change Bitcoin's code however they want. But with decentralization, any major change has to be accepted by the network, which makes Bitcoin much more resistant to control and censorship.

[Umulala-alala]

What I find interesting about bitcoin is that you don't have to depend completely on a bank to own it.

You can buy bitcoin, keep it in your own wallet and learn how to protect it yourself. I also like the fact that the supply is limited so nobody can just decide to create more whenever they want.

Though I am still learning about bitcoin, but I think the combination of limited supply and having control over your own money is what makes it special to me.

BTC is very special and it is also a store of value, bitcoin contains several properties, it is a decentralized coin which means that bitcoin is not control by any body or government, you can also send out and received BTC without stepping your foot in the bank for any bank account or third party to make your transactions, everything about bitcoin is just transparent, bitcoin is also scarces because it has a limited supply, it's one of the best asset to invest into or hold.

[Perfect-World]

Oh Bitcoin, how I love thee!

For the fact that Bitcoin allows me to own it as my own, gets me madly in love with it. No restrictions, no regulations and negotiations with any third party. It is my own, it's all mine. That total privacy it's rare.

It also has the ability to appreciate, just imagine! It has value. Some crypto coins depreciate and loses value over the years. Some are just pump and dump coins, but it's not Bitcoin. If you buy and hold tenaciously, there is every tendency of appreciation in value. Bitcoin is a gift. It is rare.

[SPIDERMAN008]

What I find interesting about bitcoin is that you don't have to depend completely on a bank to own it.

You can buy bitcoin, keep it in your own wallet and learn how to protect it yourself. I also like the fact that the supply is limited so nobody can just decide to create more whenever they want.

Though I am still learning about bitcoin, but I think the combination of limited supply and having control over your own money is what makes it special to me.

The point needs to be said a little differently. The main point is that you don't have to rely on any banking system to do any Bitcoin based activity. But in the current state of our economy we have to rely on banks. Bank dependence will not end just by holding Bitcoin. Our main economy is now based on fiat currency by the government.

A revolution is needed where all the people in the world start using Bitcoin then maybe we will be able to conduct all our financial activities completely through Bitcoin transactions. You don't have to rely on the banking system, fiat currency and conventional financial system. Although we like Bitcoin's security system, limited supply, user freedom but the government doesn't like it. Because what they like is power and control where they can control the people of country. They want to destroy their freedom without ensuring the financial security of the people. They give some paper and make it valuable, the value of which is also under the control of the government.