Bitcoin is the first finite digital asset with a maximum 21,000,000.00000000 units ever to be in circulation. The currency/commodity can be instantly transferred from one owner to another in seconds.
It is vastly faster and more secure than any international banking payment of any amount with almost no fees. Even at this early stage it's still easy to transfer millions of dollars of value in seconds for cents.
Because bitcoin can be sent directly between 2 entities with no requirement to use a bank to store or facilitate the transaction, it gives the first global base unit of value that can be used on the internet.
Since this unit of value can not be influenced by any single country, in time it seems to indicate it may become a reserve currency by a country or at the very least part of IMF's special drawing rights requirement.
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2 years, 3 months ago