Bitcoin Marketcap
$1.86T
Gold Marketcap
$15.95T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
Bitcoin Marketcap
$1.86T
Gold Marketcap
$15.95T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
A key feature of bitcoin is that you, as the owner of BTC, are in full control. You can take control of the private keys (similar to a password) yourself, and not rely on anyone else in order to transact with your bitcoin. This is different than every other form of digital payment/money. Be it your bank account, paypal, venmo, credit cards, etc, there is always someone else authorizing transactions on your behalf. Not so with bitcoin. You can use your keys to submit transactions to the bitcoin network directly, and your transactions will be executed.
This full control capability also means no one can take your bitcoin from you without your permission. Again, unlike every other form of digital money and wealth storage, there is no one who can simply confiscate your bitcoin with the stroke of a pen or click of a button on some bank or government computer system somewhere. At the limit, seizing bitcoin from someone requires physically compelling them, which creates a much higher bar than a bank freezing an account, for example.
This marriage of digital and unseizable is one of the key things that makes bitcoin uniquely useful in our modern times. Gold that you're in physical possession of, and perhaps fine art, shares this property of not being easily seizable. But by being digital, bitcoin is far more practical to deal with. It is far easier and cheaper to store securely yourself, and the ability to move it anywhere on the planet instantly without having to physically carry anything makes it far superior chaos insurance.
Pieces About Bitcoin's Censorship Resistance