The bitcoin in addition to the monetary qualities of gold, adds other related to its nature: it cannot be confiscated (unless they access your passwords ), it admits anonymity and can be transferred electronically. Its electronic nature brings advantages and disadvantages that we will see below.
It does not belong to any state or government and can be used all over the world, regardless of geographical and political barriers.
Oblivious to the fiduciary system :
You cannot create debt with it, its value does not depend on the intervention of any bank.
Emission limit :
The decreasing and predictable increase of the monetary mass, allows you to improve the purchasing power of users.
Currently, it can be used up to 8 decimals although there is no limit so in the future more decimals could be used.
Transactions in real time
In less than one hour the transaction can be made.
Irreversibility of transactions:
There is not a 1 bitcoin in between that can reverse a transaction. In any case, there are services that guard the bit coins until the party that receives them has fulfilled its part of the agreement.
Impossible to falsify:
As it is defined, it is not possible to build a false bitcoin or to make a double expense without the network detecting it.
There is no regulator:
No committee of “experts” controls the fate of bitcoin .
Nobody is obliged to reveal their identity, which makes bitcoin especially useful for use in countries where totalitarian regimes rule.
bit coin has lower transaction costs than the use of credit cards, transfers or Paypal. Making a payment with bitcoin eliminates unwanted intermediaries.
Bit coin has strong cryptographic support that protects it from fakes and can be stored in multiple locations simultaneously. The technology on which the bitcoin protocol is based is several times more secure than that used by banks and credit cards.