Bitcoin is a cryptocurrency (digital currency) decentralized and independent of any Government, so it will not be subject to inflationary events, depreciation or inorganic emission, and 100% autonomous (it belongs to its holders).
Bitcoin was created in 2008, in order to perfect “person to person” transactions in a virtual way and without major intermediaries.
Bitcoin, and its social and humanitarian objective, is clear, given that the world’s “unbanked” population, estimated around 2,800 million people by the World Economic Forum, with access to a device with internet connection, could form part of its ecosystem, thereby obtaining endless commercial, social and cultural possibilities, which are now days forbidden to them.
Today there are thousands of digital currencies in the world, with a total capitalization of just over two trillion dollars. However, Bitcoin continues to maintain its hegemony, with about half of the total capitalization.
Bitcoin and its unhackable process
The platform where Bitcoin is programmed, as well as a large number of other cryptocurrencies, is the Blockchain (or chain of blocks), which allows the execution of its processes through an open and totally public code, which was part of its initial primary objectives. The cryptographic method of Blockchain has been qualified as “unhackable” by experts, so its resulting means of payment is highly secure; there is no evidence that anything or anyone has been able to violate this process in its more than a decade of history. This facilitates the traceability and security of its inherent execution.
We make the exception that private “platforms”, developed by third parties, with exposure to Bitcoin or other digital currencies, have been “hacked” although that, of course, is not something inherent to Bitcoin.
Bitcoin and its future behavior
The offer of Bitcoin is limited to 21 million coins or “tokens”, while its demand has proven to be every day greater, given its enormous advantages versus fiat currencies (those that respond to a Government without greater guarantees than its economic evolution). Needless to say, a large number of institutional investors across the planet have not yet made their entry to Bitcoin, and it is a matter of time before they do so. Companies such as Tesla, SpaceX, WalMart, PayPal, and Visa and MasterCard themselves, give proof of the great success that being close to Bitcoin has meant in its short history.