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The invention of Bitcoin began a revolution.
Digital money has been on everyone's mind for a long time. Bitcoin confirmed the proof of concept.
The problem wasn't just money. As its market grew, Bitcoin ushered in innovation and creativity.
In this report, we will examine if Bitcoin is still a good investment.
Final score on the Cryptonomix: 97 / 100
Here are the results:
33/31 functional product
Community aspect: 33 / 33
Leadership at its best 33 / 33
Getting things done
A bitcoin's sole purpose is to store value. Money is money. The three functions of money are well served by it.
A place to store values
Exchange medium
Amount of account
The store of value is strong. As many Bitcoins as there are are limited. The number will never exceed 21 million.
By losing their passwords and sending to non-existent addresses, people reduce the supply of coins circulating.
Decrypt estimates that just under four million Bitcoins are going away forever.
Bitcoin is a powerful form of exchange. An incredible amount of simplicity can be found in creating and using a Bitcoin wallet.
Comparatively speaking, traditional banks are less expensive.
According to El Salvador, bitcoin will become legal tender during the first half of 2021. In less than six months, 21 million people actively used a Bitcoin wallet. The 18 million with bank accounts contrast starkly with this figure.
In addition, Bitcoin is also a successful unit of account. Having the ability to evaluate the value of a product or service.
Bitcoin is decimalized to eight places. Even more can be added by the core developers very easily.
However, bitcoin struggles to maintain stability as a unit of account currently. In the near future, it will likely happen.
Cryptocurrencies are more volatile than currencies such as US dollars and euro.
A Bitcoin user who buys pizza is a good example. Ten thousand Bitcoins were spent on it. That same sum of Bitcoin is worth millions today.
It is only through broad adoption that this problem can be resolved. Using Bitcoin natively would stabilize the price.
Due to its volatility, the price cannot be used as a unit of account at present. Therefore, we have money.
During the adoption phase, merchants will measure US dollars (or another popular fiat) first, and Bitcoin second.
Decentralization & Scalability
Scalability is also an issue with Bitcoin. Thus, transactions are limited to a certain number.
Bitcoin transactions are capped at roughly 10 million per month.
Solution proposals abound. Nevertheless, they usually come with centralization. In contrast to Bitcoin's decentralized philosophy.
Scalability and decentralization are incompatible with the technology.
Two possible scenarios are presented here.
Decentralized infrastructure for scalability is created on top of Bitcoin by developers.
Bitcoin is rendered ineffective by a competitor's technological innovation.
First, the Bitcoin ecosystem is growing, making the first scenario more likely. Consider Lightning Network.
There is a possibility of the second scenario. A decade ago, Bitcoin was invented. It's interesting that Bitcoin hasn't yet been dethroned by a competitor.
It would be very profitable for someone to create a better Bitcoin. Although the financial incentive is strong, no one has succeeded so far.
The technology does not permit this. Nonetheless, innovation can sometimes surprise everyone. It is not a possibility we should rule out.
No matter how we view Bitcoin, it is a real contender to eventually replace all currencies. Bankers generally agree on this point as well.
A functional Bitcoin product exists. The system is not scaleable now, but it might be in the future.
Score: 31 / 33
Community involvement
The cryptocurrency space is dominated by Bitcoin due to its early movers advantage. Consequently, it has the biggest market capitalization, the most adoption, and the greatest public recognition.
The largest community of any cryptocurrency is that of bitcoin. There are so many sub-communities in it. Their cultural and linguistic diversity makes them unique.
In essence, this is Bitcoin's philosophy. Central authorities do not exist. Mongolian farmers to elected officials in Latin America. The belief in Bitcoin is huge.
As cryptocurrency adoption increases, the Bitcoin community will grow along with it.
Overall, the Bitcoin community is thriving, and is expected to continue growing for the foreseeable future
Activity score: 33 / 33
Leadership that works
Bitcoins aim to make money decentralized. The project would not run smoothly if a single person was responsible for it.
There is only one leader, and that would be Satoshi Nakamoto. However, their identities remain unknown. The Bitcoin wallet they have been using has been inactive since last year. They're unlikely to become famous.

It was a perfect execution by Satoshi Nakamoto.
The best scenario for Bitcoin is not to have a public face. As a community, we lead ourselves.
In the end, Bitcoin does not require anyone to speak on its behalf. A Bitcoin in itself speaks for itself.
Projects that lack leadership will usually fail. Bitcoin is great precisely because of this.
It is not the best option to follow a leader in Bitcoin.
Good leadership score: 33 out of 33

Lastly, I would like to say
The most popular cryptocurrency is Bitcoin. By any metric you measure, it thrives. We can't stop it.
The factors listed above make it an excellent investment.
Score for the Crystallomix system: 97/100




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