{"id":314101,"date":"2021-08-02T19:52:03","date_gmt":"2021-08-02T16:52:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/?p=314101"},"modified":"2021-08-02T19:52:03","modified_gmt":"2021-08-02T16:52:03","slug":"what-is-bitcoin-and-why-is-it-so-popular","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/","title":{"rendered":"#What Is Bitcoin and Why Is It So Popular?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25b57a16058\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25b57a16058\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#What_Is_Bitcoin_and_Why_Is_It_So_Popular\" >What Is Bitcoin and Why Is It So Popular?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Bitcoin_in_a_Nutshell\" >Bitcoin in a Nutshell<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Blockchain\" >Blockchain\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Bitcoins_Popularity\" >Bitcoin\u2019s Popularity<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Accessibility\" >Accessibility\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Ease_of_Use\" >Ease of Use<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Anonymity\" >Anonymity\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Low_Transaction_Fees\" >Low Transaction Fees<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Fast_Transactions\" >Fast Transactions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Decentralization\" >Decentralization<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-bitcoin-and-why-is-it-so-popular\/#Long-Term_Investment\" >Long-Term Investment\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_Bitcoin_and_Why_Is_It_So_Popular\"><\/span><b>What Is Bitcoin and Why Is It So Popular?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Unless you\u2019ve been living under a rock for the past ten years, you\u2019ve probably heard about Bitcoin (BTC). You might be wondering what the big deal is, though: online discussions tend to be very polarized, with some people seeing Bitcoin and other cryptocurrencies as the path to the future and others still considering them one big scam.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whatever the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> sentiment is, it\u2019s hard to dismiss Bitcoin after it single-handedly created an entire industry and inspired multiple cryptocurrency projects. Fortunately, it\u2019s pretty easy to explain <\/span><a href=\"https:\/\/cryptoblokes.com\/blog\/what-is-bitcoin\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">what Bitcoin is<\/span><\/a><span style=\"font-weight: 400;\">, and you can decide for yourself if it\u2019s worth the attention that it gets.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_in_a_Nutshell\"><\/span><b>Bitcoin in a Nutshell<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Bitcoin was the first cryptocurrency ever invented. It was created by an individual or a group of people under the pseudonym of Satoshi Nakamoto. It\u2019s used as a digital currency backed by blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, enabling it to have a public distributed digital ledger.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nakamoto\u2019s idea behind creating Bitcoin in 2009 was to find a way of dealing with issues inherent in using fiat currencies, especially those related to secure payments and privacy. The answer was to create a digital currency that\u2019s decentralized, transparent, and impossible to manipulate.\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Blockchain\"><\/span><b>Blockchain\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Blockchain technology sounds like the latest tech buzzword, but it actually is a name for the tech behind the database containing all Bitcoin transactions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a network of specialized computers that verify transactions, there\u2019s no need for a centralized institution like a bank to act as a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tor between the parties. Each computer within the Bitcoin network authorizes transactions by solving a demanding mathematical problem, and people providing the computational horsepower to do so (\u201cminers\u201d) get rewarded in Bitcoin for their efforts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When enough new transactions are verified, they form a block that\u2019s added to the existing chain of blocks (hence the name). Blockchain enables an essential aspect of cryptocurrencies: transparency. All Bitcoin transactions ever made can be seen on the publicly available ledgers, including the balance of every Bitcoin wallet around.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoins_Popularity\"><\/span><b>Bitcoin\u2019s Popularity<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">There are certain <\/span><a href=\"https:\/\/bitcoin.org\/en\/innovation\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">technological benefits of using Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> that make it incredibly popular among its users. It\u2019s worth pointing out a few of the most significant features that can explain the hype among Bitcoin enthusiasts.\u00a0\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Accessibility\"><\/span><b>Accessibility\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Bitcoin can be sent and received securely by anyone, and the only thing you need is a smartphone or computer with an internet connection. It can also bridge the gap for a significant number of countries that are left out of most global payment systems. Bitcoin can essentially provide banking services to anyone, regardless of location.\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Ease_of_Use\"><\/span><b>Ease of Use<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">All that\u2019s required to start using Bitcoin is to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">download<\/a> a BTC wallet app, which is a much faster process than opening a bank account.\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Anonymity\"><\/span><b>Anonymity\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Even though Bitcoin transactions are public, users can remain anonymous because wallet addresses are not linked to any personally identifiable information.\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Low_Transaction_Fees\"><\/span><b>Low Transaction Fees<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Sending large amounts of money is more cost-efficient with Bitcoin. This is especially true for international money transfers, which often include costly fees and are usually much slower to process.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Fast_Transactions\"><\/span><b>Fast Transactions<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Bitcoin transactions are some of the quickest transactions you can conduct online, and most transfers get completed in only a couple of minutes.\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Decentralization\"><\/span><b>Decentralization<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Bitcoin operates as a decentralized entity with multiple computer nodes having copies of Bitcoin\u2019s blockchain and participating in the transaction verification process. Therefore, it\u2019s impossible to have a central entity that will influence it with bad monetary policies or decide to seize someone\u2019s assets for whatever reason.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin\u2019s hardware infrastructure is distributed globally, and because of that, there is no central point that can fail and bring down the entire system.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Long-Term_Investment\"><\/span><b>Long-Term Investment\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Many would argue that investing in Bitcoin isn\u2019t as wise as doing so with index funds or real estate. Still, Bitcoin keeps gaining in value and global acceptance, even <\/span><a href=\"https:\/\/www.reuters.com\/technology\/bitcoin-become-legal-tender-el-salvador-sept-7-2021-06-25\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">getting adopted as legal tender<\/span><\/a><span style=\"font-weight: 400;\"> in El Salvador later this year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With major companies like Amazon, Twitter, and Tesla contemplating how to include BTC in their businesses, its popularity may still grow exponentially, along with its price.<\/span><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology <\/a><\/span>category.<\/strong><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>What Is Bitcoin and Why Is It So Popular? Unless you\u2019ve been living under a rock for the past ten years, you\u2019ve probably heard about Bitcoin (BTC). You might be wondering what the big deal is, though: online discussions tend to be very polarized, with some people seeing Bitcoin and other cryptocurrencies as the path&#8230;<\/p>\n","protected":false},"author":1,"featured_media":314103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/waytomine.com\/wp-content\/uploads\/2019\/02\/bitcoin-grow1.jpg","fifu_image_alt":"#What Is Bitcoin and Why Is It So Popular?","footnotes":""},"categories":[18],"tags":[76943,74894,74983,79296,113347,113348,113349,113351,113352,113350,113346],"class_list":["post-314101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-anonymity","tag-blockchain","tag-decentralization","tag-accessibility","tag-bitcoin-in-a-nutshell","tag-bitcoins-popularity","tag-ease-of-use","tag-fast-transactions","tag-long-term-investment","tag-low-transaction-fees","tag-what-is-bitcoin-and-why-is-it-so-popular"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=314101"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/314103"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=314101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=314101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=314101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}