Category Archives: Bitcoin

Bitcoin Summary

WHAT IS BITCOIN?

BITCOIN is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.

STRENGTHS

  • Bitcoin has the first mover advantage which still gives it a huge market share
  • Largest liquidity in the crypto market
  • Largest user base and closest crypto to have mass adoption

WEAKNESSES

  • Scalability- As more users are added the Bitcoin network is struggling under load
  • High transaction fees. This is due to the scalability problem
  • Slow transaction times.
  • Low anonymity


OPPORTUNITIES

Future upgrades like Lightning network and Atomic swaps could help with the problems that Bitcoin is facing.

THREATS

Bitcoin faces many threats from 2nd and 3rd generation coins that are newer but have advanced technology.

Bitcoin Cash is a hard fork from Bitcoin that aims at being the transactional version of Bitcoin.

Other coins that could one day challenge Bitcoin are Litecoin and Dash plus any number of coins that are yet to gain mass adoption.

5 YEAR OUTLOOK

Bitcoin still has enormous community support and is the only coin that has liquidity to currently support institutional investors.

It should remain at the top for some time but it is losing market share.

  • www.Binance.com 
  •   Over 80+ Currency pairs. No verification to trade crypto to crypto.
  • Fees: As low as 0.1% trading fee
  • Supported countries: Worldwide
  • Deposit methods: BTC, ETH, LTC, NEO & BNB
  • www.coinspot.com.au
  •   60+ Altcoins available.  User friendly.
  • Fees: 1-3%
  • Deposit currencies: AUD*, BTC, LTC, DOGE
  • Payment methods: BPAY, POLi, cash, cryptocurrency


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Disclaimer- The Information on this website is provided for education and informational purposes only. The Information contained in or provided from or through this website is not intended to be and does not constitute financial advice