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What is BitGod? (The myth of Bitcoin’s beneficence)

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What is BitGod? What is BitGod?Bitcoin is a highly free and decentralized netwo

What is BitGod? (The myth of Bitcoins beneficence)

What is BitGod? What is BitGod?

Bitcoin is a highly free and decentralized network that controls and manages its own wealth through open and transparent means. In the blockchain, individuals have immutable and traceable ownership of their data. Anyone can use Bitcoin as proof of ownership for their assets, and the community decides who can control this data. Therefore, people can view the value of their digital currency holdings and transaction history anytime and anywhere. Users can also participate in various activities and make investment decisions or speculate based on their choices.

The Myth of Bitcoin’s Beneficence

Editor’s note: This article is from Meng-eyes Finance (ID: Meng-eyes), authorized by Odaily Planet Daily for reprinting.

In recent years, there have been more and more stories about Bitcoin and blockchain technology. However, there are still many misconceptions about whether it can replace gold, the US dollar, or other fiat currencies. For example, the term “money” refers to wealth, which is the same for anything else. The term “digital assets” is commonly used to denote the price or value changes of specific items. According to some theories, if a product is seen as a commodity, its ownership will be restricted. However, when these assets emerge as a new financial instrument, this change automatically occurs. However, this does not mean that Bitcoin cannot replace gold or silver. On the contrary, this term explains the true gospel created by Bitcoin – it is one of the most useful cryptocurrencies in history.

From ancient times to the present, two of the most well-known things are worth noting: 1. The invention of Bitcoin; 2. Bitcoin becoming a global payment system; 3. Decentralized like the Internet, allowing anyone to access the network. Although Bitcoin is not the only company capable of achieving this, it is undeniable that it is one of the representatives of technological revolution in many aspects.

As Satoshi Nakamoto pointed out when he first designed this concept: “I connect my computer to an online computer and send transactions via email.” This is one of the largest smartphone applications in the world. Since 2013, this software has been running and only recently gained popularity and widespread use. (Bitcoinist)

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