Editing Bitcoin
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[[File:Bitcoin.png|150px]] | |||
==Summary== | |||
* Bitcoin is a currency. | |||
==What is Bitcoin?== | |||
Bitcoin is a currency. | Bitcoin is a currency. | ||
==What's unique about Bitcoin?== | |||
What makes Bitcoin unique is that the supply of the currency is limited (at 21 million coins) and transactions of the currency occur peer-to-peer (i.e. without the need of a central entity, such as the Bank of England). | |||
==Competition== | ==Competition== | ||
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|+ Currency competition | |+ Currency competition | ||
|- | |- | ||
! Item !! Bitcoin !! US Dollar | ! Item !! Bitcoin !! Ether !! US Dollar | ||
|- | |- | ||
| Does the currency operate on a decentralised network? || style="background: green; color: white;" | Yes|| style="background: red; color: white;" | No | | Does the currency operate on a decentralised network? || style="background: green; color: white;" | Yes|| style="background: green; color: white;" | Yes|| style="background: red; color: white;" | No | ||
|- | |- | ||
| Is the supply of the currency limited? || style="background: green; color: white;" | Yes || style="background: red; color: white;" | No | | Is the supply of the currency limited? || style="background: green; color: white;" | Yes || style="background: red; color: white;" | No ||style="background: red; color: white;" | No | ||
|- | |- | ||
| | |High likely is the currency to act as a store of value? | ||
|style="background: green; color: white;" |High | |style="background: green; color: white;" |High | ||
|style="background: red; color: white;" |Low | |style="background: red; color: white;" |Low | ||
|style="background: red; color: white;" |Low | |||
|style="background: red; color: white;" | | |||
|} | |} | ||
{| class="wikitable sortable" | {| class="wikitable sortable" | ||
|+ | |+ Currency competition | ||
|- | |- | ||
! Item !! Bitcoin !! Ether !! | ! Item !! Bitcoin !! Ether !! US Dollar | ||
|- | |- | ||
| Does the currency operate on a decentralised network? || style="background: green; color: white;" | Yes|| style="background: green; color: white;" | Yes|| style="background: | | Does the currency operate on a decentralised network? || style="background: green; color: white;" | Yes|| style="background: green; color: white;" | Yes|| style="background: red; color: white;" | No | ||
|- | |- | ||
| Is the supply of the currency limited? || style="background: green; color: white;" | Yes || style="background: red; color: white;" | No ||style="background: red; color: white;" | No | | Is the supply of the currency limited? || style="background: green; color: white;" | Yes || style="background: red; color: white;" | No ||style="background: red; color: white;" | No | ||
|- | |- | ||
| | |High likely is the currency to act as a store of value? | ||
|style="background: green; color: white;" |High | |style="background: green; color: white;" |High | ||
|style="background: red; color: white;" |Low | |style="background: red; color: white;" |Low | ||
|style="background: red; color: white;" |Low | |style="background: red; color: white;" |Low | ||
|} | |} | ||
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To invest in Bitcoin, click [https://www.coinbase.com/ here]. | To invest in Bitcoin, click [https://www.coinbase.com/ here]. | ||