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2023-03-05 08:24:09 UTC

WHY IS IT REVOLUTIONARY?
Bitcoin technology facilitates a trustless economic system where borderless financial transactions can be finalized without intermediaries. While traditional banking and payment systems heavily rely on trust, Bitcoin offers a way out of this system with no third party to resolve the double-spending problem and maintain properties like censorship resistance, immutability and decentralization.
Such a framework allowed the creation and implementation of a system effectively disjoined from government control, delivering a revolutionary separation of money and state for the first time in history. Bitcoin breaks all models we’re used to, starting with reduced state power and control, the exact reason governments and their affiliated mainstream media spread disinformation, fear and doubt about it.
Bitcoin offers real digital scarcity which makes it a store-of-value asset; censorship resistance as an assurance that everyone can use it at any time and everywhere, with no discrimination; settlement finality, which almost instantly ensures that transactions are irreversible.
Bitcoin’s settlement finality is still a widely underrated feature, while it represents a valid alternative to more traditional payment methods like Visa credit cards and SWIFT as the underlying structure of bank payments. These more conventional payment systems may take up to six months to settle, while a typical Bitcoin transaction is finalized within 10 minutes to a couple of hours.
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