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Bitcoin Explained – Why BTC is Compared to Gold?

Bitcoin sounds very complicated but it’s a lot simpler and more intuitive than most people think. Of Course it’s a new technology to many and not very new for some at the same time because it has existed for more than 10 years. That’s unlike anything we know or had seen before. 

So it’s easier to understand Bitcoin as a combination of different things rather than comparing it to something specific. Firstly, Bitcoin is a payment system that allows you to move money from one person or company to another only faster, cheaper and more safely. 

Bitcoin is digital gold 

Second, Bitcoin is similar to gold. Many people even refer to it as digital gold like old. It’s a really good store of value but in addition it’s also really easy to move. 

Automated and Secure

Third, Bitcoin is like the internet, no single person or entity controls it so anyone can use it as they like. More importantly there’s no human interaction to change anything. No body can. 

These three aspects of Bitcoin, a payment system digital gold and similarity to the Internet reinforce one another to create something really powerful for now just imagine what would happen if you took a blender threw in a credit card a piece of gold hint of the internet mix it all up and out comes something brand-new Bitcoin. 

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