7 Reasons To Buy Bitcoin In 2020
You may hear the word bitcoin by friends, family, neighbors and maybe on the internet but if you don’t know why you need to buy bitcoin then you are in the right place and this article is very useful for you.
In this article, you will learn about the 7 most important reasons that make actually sense to buy bitcoin, and why it is important for you to buy and own bitcoin.
1. Bitcoin is Scarce Forever like Time
Bitcoin’s total supply is capped to a maximum of 21,000,000 bitcoins in existence that can be created so far and this can not be changed by anyone in any situation at any instant of time that makes it more scarce than anything else.
The scarcity of bitcoin is one of the most important properties that make it too much valuable where there is a limited amount of bitcoin is available, as well as its supply can never be changed.
Due to its strongly limited supply when the demand increased always results in a huge increase in the value of bitcoin.
Even the most scarce money we know today is Gold where the supply of gold is also not limited that much as there are possibilities in which the more gold can be found on other planets or in asteroids and even on Earth as well. But this is not possible in the case of bitcoin where there is no way to create more than 21,000,000 bitcoins ever.
So, if you don’t want to be left behind in the race for Bitcoins then go ahead buy and hold some quantity of bitcoins as early as possible because in the game of musical chairs (bitcoins) whenever the music will stop you will cry for a chair (bitcoin) if you don’t book your chair (bitcoin) now.
I just want to say that don’t be like a fool or a stupid guy and buy bitcoins now, this is the way where the future comes in.
2. Bitcoin Monetary Policies are Permanent
Bitcoin’s monetary rules are permanent forever and can never be changed by any way of means at any instant of time.
Bitcoin supply is limited to a maximum of 21,000,000 and these all bitcoins will come into the market by mining in deflationary nature through predefined algorithms (such as halving) that are permanent.
Bitcoin policies are not controlled by any party or organization and there is no way to change its policies due to its way of working and its designing structure.
Bitcoin is run and protected by Maths, it matters more than anything because we can trust Maths but not Humans, as Maths never changed by greed and emotions but humans can change themselves easily with greed and emotions where history is proof.
Bitcoin all policies are publically available as well, you can go and read all the code of bitcoin without any permission of anyone and anonymously as well. Visit the Bitcoin Github repository to read the Bitcoin code and all the developments happening on it so far.
3. Censorship Resistant
Bitcoin is a peer to peer money where the bitcoin network is not controlled by any party or organization as the bitcoin network is a peer to peer decentralized network.
Due to its decentralization, it is not possible to censor bitcoin transactions even if everyone knew that the transaction is from hackers or for illegal purposes, and this happened many times in the history where most of the times when exchanges get hacked then no one can stop their bitcoin transaction even after everybody knew that it was of hackers. It is not possible to cease any bitcoin address or to stop anyone to transfer bitcoin from the bitcoin address.
You can not re-org or reverse the transactions as well in the bitcoin network. Bitcoin is designed and structured in such a way that it is truly censorship-resistant money, and no one in the world can stop you to use bitcoin, to own bitcoin, and to transfer bitcoin anywhere in the world.
So, you can buy and own bitcoin even your government banned it permanently in the country.
Bitcoin can never be regulated, controlled, censored and banned.
– Trozer The One
This is the way
4. Financial Self-Sovereignty
In bitcoin, you and only you own your money. You had full control over your money where you are your own bank means only you had all powers for your money to send/receive, where and how to store your money is totally decided and done by your hands and all these events are private to yourself.
Bitcoin protects your security, privacy, and freedom by giving all powers back into your hands. You are the only one who holds and control your money.
At the node level (technically), bitcoin is a peer to peer network where everyone needs to follow the maths or consensus rules and the individual node has set consensus rules by downloading software and compiling from the source you set the rules, then your node verifies peers around it who will follow the same rules. In case if any node not following the rules honestly or breaking the rules then you can kick out that node from your network as well.
Basically, Bitcoin provides you the private keys by which you can access your bitcoins privately, securely, and freely anywhere, and there is no way to access the bitcoins without the private keys. It means only one who owns the private key for that bitcoin amount can spend them.
There is no censorship here that can stop you to do so as the bitcoin is run by maths, not by human beings’ emotions and thoughts. No one can deny maths means no one can stop you to spends your bitcoins by using your private key by following consensus rules honestly.
Bitcoin is censorship-resistant. Bitcoin can never be regulated, controlled, censored, and banned. This is the way.
You got Financial Self-Sovereignty by buying and owning the bitcoin.
Not Your Private Keys Not Your Bitcoins
5. Decentralized Money
There is no central authority and no single party or group that controls the bitcoin.
In Bitcoin, you don’t need to trust anyone else, there is no one to trust here. You can verify the code of bitcoin, verify your bitcoins on the ledger, verify your bitcoin full node, verify proof of private keys for your bitcoins by yourself and even anonymously.
Bitcoin is an open-source code where anyone can view, contribute and download its client to use it with full anonymity and without any permission of anyone.
Bitcoin is a truly decentralized system where everybody gets rights to the security, privacy, and freedom of their money (in bitcoins) in their own hands.
The transactions of Bitcoin are publicly visible to everyone and verified by miners where miners need to follow consensus rules honestly.
Don’t Trust, Verify
6. Lightning Network
Lightning Network is the second layer (Layer 2) payment protocol that allows users to transfer bitcoin (satoshis) at very high speed or almost instantly with a negligible fee.
The bitcoin lightning network is mainly developed to solve the scalability issue of the bitcoin. Lightning Network is specially designed for micropayments to increase bitcoin adoption around the world.
The idea was developed in 2016 by Joseph Poon and Thaddeus Dryja when they published LN whitepaper. Finally, on 15 March 2018, the lightning network first version lnd 0.4-beta was released for developers and users.
Today the bitcoin lightning network is developed so far and available to use for every user including beginners. If you wanted to start with the bitcoin lightning network then please check out our best bitcoin lightning wallets article.
In order to use the bitcoin lightning network, you just need to download and install a bitcoin lightning wallet and then can start sending/receiving payments on the lightning network quickly. It is such an easy process that doesn’t require any technical knowledge.
Lightning Network is Ready, Are you Ready?
7. Deflationary Nature (Halving)
Bitcoin is deflationary due to the following reasons:
- Halving: As we know that Bitcoin has a limited total supply of 21,000,000. So these bitcoins are coming into circulation by the process of mining in which bitcoin inflation gets reduced by half after every 4 years due to halving event that occurred every after 210,000 blocks mined successfully. So due to the reduction in the inflation rate of bitcoin with time, bitcoin becomes deflationary in nature.
- Lost Bitcoins Never be Recovered: There will be only 21,000,000 bitcoins created so far and if any amount of the bitcoins lost by its users or by any other means then it can never be recovered in any way, so if some bitcoins get lost then it results into reducing the bitcoin supply less than 21,000,000 in circulation forever that makes bitcoin more deflationary and more valuable with time.
Also, it is claimed by many chain analysis companies that there are approx 4 million bitcoins (including Satoshi coins) lost forever and can never be recovered in the future. It means there are or will be only 17 million bitcoins available in circulation for everyone forever.
“Lost Bitcoin only make everyone else’s coins worth slightly more. Think of it as a donation to everyone”
– Satoshi Nakamoto
Not Your Keys Not Your Coins
Sorry Not Sorry
Conclusion
We hope that you know what you need to do now after reading the above points.
Now you know why it worth a lot to buy bitcoins now and not later. Also don’t say sorry to yourself if you don’t buy it now and miss this opportunity. Sorry Not Sorry.
We prefer everyone to do own research before investing and verify every information before trusting anything blindly.
Bitcoin is not a joke
– Trozer The One
This is a very demanding and scarce asset ever
Don’t be left behind in the game of musical chairs
Haters gonna hate
Waiters gonna wait
Commenters gonna comment
Scammers gonna scam
but but but we don’t give them our bitcoins
This is the way
Also Read: Best Cryptocurrencies To Invest In 2020
How to Earn Bitcoin? 13 Different Ways to Earn Bitcoin Free
NOTE: We prefer everyone to do your own research and do not follow blindly any source of information. We do not provide any financial advice for trading and investing anywhere, so we are not responsible for any loss or profit. Our main motive is to provide the best possible legit information to the readers, so our all provided content is for information purposes only.
