After the unexpected increase at the end of 2017, at almost $ 20,000 in the value of a bitcoin, there was a real frenzy regarding it, more and more people want to invest in this cryptocurrency with some special features compared to fiat.
Admittedly, the result was its sharp and rapid devaluation, now at a rate well below half compared to April.
The main features that Bitcoin has
Bitcoin users do not have to identify themselves in front of the network and its other users, thus remaining anonymous.
Simply when an exchange request is sent, after verifying previous transactions which confirms that the sender has the necessary bitcoins in his electronic wallet and the authority to send them to the recipient, the transaction ends favorably.
Lack of transaction flexibility
After a transaction between two users has been performed and confirmed, being entered in the network blockchain (ie in the mentioned electronic register), it cannot be subsequently modified.
Limited quantity, which cannot be changed
While physical currencies, such as dollars or euros, are unlimited in number, as subsequent issues can be made by the competent institutions, if we talk about bitcoins, they are in finite numbers, respectively 21 million. Over the course of its existence, ie for about 9 years, some users have lost their virtual coins permanently, but this does not mean that they will be replaced by others.
Only cryptocurrencies that (still) actually exist in the virtual environment are traded.
Bitcoin can be seen as an intangible commodity in a limited amount on the financial market of electronic transactions, whose value is strictly determined by supply and demand. It is valued or devalued in relation to the trust that those in the network place in it.
Precisely for this reason it is extremely desirable: as the demand increases a lot, the supply being limited (even decreasing), the value of the cryptocurrency in question also increases.
As Bitcoin also means the online network of the same name, it should be noted from the outset that no private or governmental financial institution can control the platform in question, it is managed by a group of volunteer Internet users, each of them keeping a copy of a special register called a blockchain, an electronic document where all transactions made by users are recorded.