In my opinion, bitcoin is the most superior form of money ever created. Money simply represents a ledger between individuals, and bitcoin is merely a fair, incorruptible ledger that we can unianimously agree upon and trust.
Bitcoin possesses numerous remarkable properties:
- The total supply of bitcoin is finite and verifiable by all. While governments continually issue more units of currency, eroding the purchasing power of savers, bitcoin's future supply is determined by mathematics. The total supply of bitcoin will never exceed 21 million units, rendering it an effective store of value over extended periods of time.
- Bitcoin cannot be controlled by any individual, corporation, or government. The network is secured by volunteers who dedicate computing power in exchange for newly minted bitcoins (and transaction fees). Adhering by bitcoin's rules is profitable, whereas attacking the network is self-defeating and unsustainble.
- Bitcoin can be sent and received across the internet, 24/7, without the need for trust in any intermediaries.
- A bitcoin transaction cannot be censored, altered, or reversed.
- Bitcoin cannot be seized against your will. If the private key is secure, the funds cannot be spent by anyone except the rightful owner.
A few of my favorite bitcoin resources: