Every transaction is permanently recorded in a public ledger. That seems centralized. Also you have no idea who centrally controls it or how much bitcoin is still in circulation. It's not actually used as currency for daily transactions. It's a fraudulent store of value and is worthless in a crisis. no one is going to give you ammunition or guns or food or gasoline or electricity or land in exchange for your bitcoins unless they are fools. Now that bitcoin is on the jewish stock exchanges it will become more speculative and fraudulent than ever.
You will own nothing (digital make believe bitcoins) and be happy.
It's a distributed ledger though. So yes it's public to view it, but in order to update or make changes to that ledger (send a transaction) you need cumulative approval from a bunch of independently owned and operated computers around the world to check and verify that your transaction is legit (ie... Has the mathematical signatures necessary to prove ownership of the sending account).
It's not actually used as currency for daily transactions. It's a fraudulent store of value
It's value lies in the fact that nobody can control it, gate-keep, halt, or reverse transactions on the ledger. Anyone can create a new bitcoin account without needing to register or provide ID, and nobody can stop them from using the network.
That feature is valuable enough to create a consistent userbase willing to spend money on it, which is what gives it monetary value. And from there speculation adds more value of course, and there's gonna be ups and downs in the price for sure due to the specualtion.
and is worthless in a crisis.
Actually it's EXTREMELY valuable in a crisis. When Venezuela had their hyperinflation crisis Venezuelans were all over the internet begging strangers to send them $20 in Bitcoin because they can't get USD into the country, and food sellers didn't want to take their dogshit native currency with a plummeting value.
Next, another thing that makes it EXTREMELY valuable in a crisis is the fact that bitcoin can be smuggled in your mind with zero physical evidence, and nothing that can be seized from you.
All you gotta do is set up a wallet, transfer funds to it, and memorize your 12 word seed phrase. Then you can cross any check point or border in the world with nothing but the shirt on your back and still have access to your funds as soon as you acquire a computer on the other side.
And BTW.... The reason the ledger is public is because without it being public and transparent, you'd have to have a central authority maintaining it's trustworthiness.
Like imagine we're in a payment dispute.
"I already wired you the $500!"
"No you didn't, I never got it!"
"Ohh yeah?! Here's a receipt from the bank proving it went through and landed in your account!"
In this case the trustworthiness of a central authority provides authentication and settles the dispute.
Now imagine it like this...
"I already sent you 0.005 bitcoin!"
"No, you didn't, I never got it!"
"Ohh yeah, Here's the public ledger and it's saying my 0.005 btc is sitting in your account."
In this case the trustworthiness of the network's source code provides authentication and settles the dispute. But it doesn't work if both of us can't see the ledger, and that's why it's public.
Every transaction is permanently recorded in a public ledger. That seems centralized. Also you have no idea who centrally controls it or how much bitcoin is still in circulation. It's not actually used as currency for daily transactions. It's a fraudulent store of value and is worthless in a crisis. no one is going to give you ammunition or guns or food or gasoline or electricity or land in exchange for your bitcoins unless they are fools. Now that bitcoin is on the jewish stock exchanges it will become more speculative and fraudulent than ever.
You will own nothing (digital make believe bitcoins) and be happy.
It's a distributed ledger though. So yes it's public to view it, but in order to update or make changes to that ledger (send a transaction) you need cumulative approval from a bunch of independently owned and operated computers around the world to check and verify that your transaction is legit (ie... Has the mathematical signatures necessary to prove ownership of the sending account).
It's value lies in the fact that nobody can control it, gate-keep, halt, or reverse transactions on the ledger. Anyone can create a new bitcoin account without needing to register or provide ID, and nobody can stop them from using the network.
That feature is valuable enough to create a consistent userbase willing to spend money on it, which is what gives it monetary value. And from there speculation adds more value of course, and there's gonna be ups and downs in the price for sure due to the specualtion.
Actually it's EXTREMELY valuable in a crisis. When Venezuela had their hyperinflation crisis Venezuelans were all over the internet begging strangers to send them $20 in Bitcoin because they can't get USD into the country, and food sellers didn't want to take their dogshit native currency with a plummeting value.
Next, another thing that makes it EXTREMELY valuable in a crisis is the fact that bitcoin can be smuggled in your mind with zero physical evidence, and nothing that can be seized from you.
All you gotta do is set up a wallet, transfer funds to it, and memorize your 12 word seed phrase. Then you can cross any check point or border in the world with nothing but the shirt on your back and still have access to your funds as soon as you acquire a computer on the other side.
And BTW.... The reason the ledger is public is because without it being public and transparent, you'd have to have a central authority maintaining it's trustworthiness.
Like imagine we're in a payment dispute.
"I already wired you the $500!"
"No you didn't, I never got it!"
"Ohh yeah?! Here's a receipt from the bank proving it went through and landed in your account!"
In this case the trustworthiness of a central authority provides authentication and settles the dispute.
Now imagine it like this...
"I already sent you 0.005 bitcoin!"
"No, you didn't, I never got it!"
"Ohh yeah, Here's the public ledger and it's saying my 0.005 btc is sitting in your account."
In this case the trustworthiness of the network's source code provides authentication and settles the dispute. But it doesn't work if both of us can't see the ledger, and that's why it's public.