Did you know that Bitcoin commands over 40% of the crypto market? Towards the end of 2021, the worldwide cryptocurrency market capitalization hit $2.21 trillion.
Digital currencies have increased their popularity in the past decade. Today, you’ll find more than 7,550 cryptocurrencies in the market.
Cryptocurrencies use blockchain technology. The technology permits a group of selected individuals to share data.
So, what is bitcoin? Also, why does bitcoin have value over other cryptocurrencies?
This article provides you with an ultimate guide to understanding the value of bitcoin.
Bitcoin Stores Value
Among other cryptocurrencies, bitcoin has the highest volatility. So, it’s perceived more like a product such as gold that can store value over time.
Bitcoin lacks only one feature – price stability.
If there’s increased adoption of Bitcoin, its high volatility might change. Yet, there are not enough incentives to predict any change.
So, Bitcoin will remain highly volatile until cryptocurrencies get adopted globally.
Bitcoin Is Scarce
The limited supply of Bitcoin contributes significantly to its value. When supply goes down, the demand for Bitcoin will increase.
There’s a scarce supply of 21 million coins in circulation. So, crypto investors compete for a part of Bitcoins’ profitability nature.
Yet, researchers believe that Bitcoin technology will soon evolve to become a medium for daily transactions.
Free from Counterfeits
When you complete a Bitcoin transaction, it’s recorded on a digital distributed ledger. The ledger gets secured through computation work or nodes.
Besides, the distributed ledger system helps to prevent the double-spend issue. Double spending barred the take-off of the existing cryptocurrencies before Bitcoin.
So you can neither forge nor revoke any Bitcoin transaction.
Unlike regular cash, cryptocurrencies are highly decentralized. So, no government or central banks can claim ownership and control of Bitcoins.
That way, no one can track or censer your crypto transactions. You’ll also not have to worry about any government organization confiscating your money.
Recently, traders and businesses have started accepting Bitcoin payments on their site. Even though it’s not as exposed as traditional currencies, many users can distinguish Bitcoin from other non-currencies.
Also, you can reuse one bitcoin without dropping its value hence its durability.
The installation of Bitcoin ATMs is getting done across many parts of the world. That way, you can trade cryptocurrencies at your convenience.
You can divide one Bitcoin into one hundred million Satoshis. This implies that a single Satoshi will equate to 0.00000001 BTC, which is the least amount of Bitcoin in the market today.
A single Bitcoin can get subdivided into 16 or more decimals if the need arises. So, you’ll enjoy a boundless level of divisibility with Bitcoin cryptocurrency.
The Value of Bitcoin
There are many reasons to invest in Bitcoins. You’ll enjoy no transaction fees as you’d find in banks and traditional currencies.
Besides, you can trade Bitcoins regardless of your location. All you’ll need is a crypto wallet and a stable internet connection.
Bitcoin transactions will give you a sense of privacy. Since you’re using your blockchain identity, you won’t have to expose your identity.
Explore this page to learn more about the value of Bitcoin.
Khalil ur Rehman is a proud born and raised in Abbottabad. Khalil has worked as a journalist for nearly a decade having contributed to several large publications including the Yahoo News and The Verge. As a journalist for The Hear Up, Khalil covers climate and science news. [email protected]
Kanye West Merch
Kanye West is a popular rapper, musician, and clothing designer. He has many fans, who adore his music and fashion. Recently, Kanye West Merch has started selling merchandise on his website. His fans have been eagerly buying it up. The merchandise includes T-shirts, hoodies, hats, and other items. Some of the designs feature popular lyrics from Kanye’s songs. Other items feature graphics or designs that are inspired by Kanye’s music or fashion sense. So far, the feedback from fans has been positive. They love the quality of the materials used and the designs of the items. They also appreciate that they can buy merchandise that is exclusive to Kanye West Merch website. If you’re a fan of Kanye West, be sure to check out his online store for some great merch.
Kanye West Hoodie
Kanye West is a hip-hop artist who has gained worldwide popularity. He is known for his unique style, and many of his fans love to imitate it. If you’re looking for a way to show your support for Kanye West and look good at the same time, consider buying a Kanye West hoodie. Hoodies are a great way to keep warm in the winter, and there are many different styles available. You can find hoodies that feature Kim Kardashian, North West, or any other of Kanye’s famous family members. You can also find hoodies with the lyrics from some of Kanye’s most popular songs. No matter what style you choose, you’ll be sure to look cool and stylish when wearing a Kanye West hoodie. Kanye West is one of the most popular and influential rappers in the world. His music is expressive and unique, and his fashion sense is always on point. If you’re a fan of Kanye West, you’ll love this hoodie! It’s made from high-quality materials and it looks great. It’s perfect for a cool autumn day or a winter evening.
Kanye West Shirt
In anticipation of his upcoming Saint Pablo tour, Kanye West has released a new line of merch. The line includes a shirt that is gaining a lot of attention. The shirt bears the phrase “I Feel Like Pablo”, which was popularized by Kanye on Twitter. Fans are already rushing to get their hands on the shirt, and many are saying that it will be a hot commodity during the tour. Whether you’re a fan of Kanye or not, this shirt is sure to turn some heads. Be sure to check out the rest of the line, which includes hats, jackets, and more! As a Kanye West fan, I was excited when I saw he was selling shirts on his website. I quickly went to the website to buy one. However, when I got there, I was disappointed to find that the shirt cost $90! That’s way too expensive for a T-shirt. I’m sure Kanye could do better than that.
Kanye West Sweatshirt
Kanye West’s influence in popular culture is undeniable. From his early days as a hip-hop artist to his recent foray into fashion design, Ye has always been one step ahead of the curve. His latest album, “The Life of Pablo,” was released in February 2016 and spawned hits like “Famous” and “Father Stretch My Hands Pt. 1.” If you’re looking for some new Kanye West gear to show your support for the rapper, check out our selection of sweatshirts. Made from 100% cotton, these hoodies are comfortable and keep you warm on those cold days or nights. They’re also machine-washable so they’re easy to take care of – perfect if you’re on the go! Whether you’re listening to Ye’s latest album or just hanging out with friends, these Kanye West sweatshirts will let everyone know that you’re a fan of the artist extraordinaire! Order yours today! (Sharing an exciting giveaway opportunity here as well if available)
Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.