Published On: Wed, Feb 7th, 2018

5 Ways Bitcoin Has Already Changed Money Forever

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Here are five ways in which Bitcoin technology has completely redefined the concept of money in its nine years of existence.
A Revolution of Money
Bitcoin is one of the most groundbreaking monetary experiments in human history. In just nine years of existence, Satoshi Nakamoto’s invention has grown into a multi-billion dollar industry, leading to an explosion of fintech innovation… and it’s just getting started.
Meanwhile, Bitcoin technology has already reinvented the concept of money.

According to the Federal Reserve, the characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability. Interestingly, Bitcoin does not only posses, but has greatly enhanced and redefined many of these properties.
Let’s take a look at five ways how the world’s first cryptocurrency has already transformed money as we know it.
Digitally Durable
Bitcoin security is of key importance – pun intended. It is designed so that only the person who knows private key controls the bitcoin associated with a given public (key) address.
Unlike a ton of gold or suitcases filled with cash, a Bitcoin user can store indefinite amounts on a given address. A trillion dollars, for example, stored on a …

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