July 26, 2021
Bitcoin is the largest market capitalization cryptocurrency. It has triggered the growth of blockchain technology and the expansion of the cryptocurrency market at an exponential rate over the last decade. Basically, we can consider a cryptocurrency as a digital asset prepared to be used as a medium of exchange that uses cryptography or cryptographic and mathematical language. As such, Bitcoin presents unique features that are much more advanced than the traditional currency system. It can have various functionalities, such as guaranteeing financial transactions or transfers and serving as a means of exchange between two parties, verifying the transfer of assets or controlling the creation of additional cryptocurrencies, happens through mining.
Theoretically, cryptocurrencies would work as a decentralized system, that is, they would be based on a public network and without state or bank supervision. In this way, we could precisely obtain a digital currency that is free and uncontrolled and centralized by central banking systems or governments. At Bezel Investments, we defend the use of Bitcoin as a means of payment and we intend to educate and protect our customers with the cryptocurrency that mobilizes the market. Bitcoin transactions are carried out through blockchain technology, that is, a chain of blocks that works as a means of transaction and as a database of public transactions, ensuring privacy for users, but also transparency in their actions, making it possible to guarantee payments and prevent fraud or corruption. That’s why Bezel Investments shares the same values as Bitcoin: trust, security, transparency and independence.
At Bezel Investments, we advocate the use of Bitcoin as a means of payment
Bitcoin is a consensus network that enables a decentralized and completely digital payment system. It was the first cryptocurrency to be a fully decentralized peer-to-peer system, supported and promoted by its users without the existence of an intermediary or central authority. The concept that Bitcoin represents is internet money and the reasons why it is so relevant and resembles a store of value is its deflationary nature over time, as there is a limited number of units and also decentralized. Bitcoin is not controlled by anyone because no one controls its technology. There are programmers and miners who develop and evolve the software, but as the programming code and Bitcoin protocol are immutable, they are encouraged to protect the consensus, as the Bitcoin blockchain presents the same rules for all its users. From the point of view of the common user, the process is quite simple and as long as you use a compatible wallet, as you will read later, you can transact and make payments within the Bitcoin ecosystem.
The main features of Bitcoin and its blockchain are:
Bitcoin is open source, has no borders, is neutral, resistant to censorship and totally immutable
Bitcoin was created by Satoshi Nakamoto. Its white paper was published in October 2008 and the first transaction took place on January 3, 2009. It started as an internet payment and transaction system. However, Bitcoin has become much more than that and can be considered a store of value, far superior to gold. Gold is a physical and scarce metal. Obviously, Bitcoin is also scarce, because there will be a limited number of coins (21 million bitcoins). Bitcoin’s advantages over gold or fiat money include portability, durability, divisibility, security and decentralization. At Bezel Investments we share the same principles. Invest in Bitcoin with us!