About Bitcoin

Bitcoin is a decentralised digital currency that has been making waves in the financial world since its creation in 2009. Developed by the pseudonymous Satoshi Nakamoto, Bitcoin was designed to provide an alternative to traditional fiat currencies that are subject to the whims of central banks and governments. Over the years, Bitcoin has grown in popularity and has become a viable investment option for individuals and institutions alike.

One of the reasons why Bitcoin makes an excellent investment is its potential for growth. Bitcoin's supply is limited to 21 million coins, which means that it is inherently scarce. This scarcity, combined with increasing demand, has led to a significant increase in the value of Bitcoin over the years. While Bitcoin's price is notoriously volatile, many investors see it as a potential store of value and a hedge against inflation.

Another reason why Bitcoin is an excellent investment is its decentralisation. Bitcoin is not controlled by any central authority, which means that it is resistant to censorship and government interference. This makes Bitcoin a potentially valuable asset in countries with unstable governments or high inflation rates.

Overall, Bitcoin's potential for growth and its decentralised nature make it an attractive investment option for individuals and institutions alike. As with any investment, it's important to do your own research and understand the risks before investing in Bitcoin. But for those who are willing to take the risk, Bitcoin can potentially offer significant rewards.

Properties of Bitcoin

Bitcoin is a decentralised digital currency that was created in 2009 by an anonymous individual or group known as Satoshi Nakamoto. It is the first and most well-known cryptocurrency in the world. Here are some of the key properties of Bitcoin:

Decentralised: Bitcoin is a decentralised currency, which means it operates without a central authority like a government or a bank. Transactions are verified and recorded on a public ledger called the blockchain, which is maintained by a network of nodes around the world.

Limited supply: The total supply of Bitcoin is capped at 21 million, which means that there will never be more than 21 million Bitcoins in existence. This helps to ensure that Bitcoin maintains its value over time.

Pseudonymous: Bitcoin transactions are recorded on the blockchain, which is public and transparent, but the identities of the people behind the transactions are kept anonymous. Instead, users are identified by a unique public key or wallet address.

Secure: Bitcoin transactions are secured using cryptography, which makes it virtually impossible to hack or counterfeit. The blockchain also ensures that transactions are tamper-proof and irreversible once they are confirmed.

Fast and cheap: Bitcoin transactions can be processed quickly and at a low cost compared to traditional banking methods. This is because there are no intermediaries involved in the transaction process.

Volatile: The value of Bitcoin can be highly volatile, and its price can fluctuate rapidly in response to market demand and other factors.

Global: Bitcoin can be used as a currency anywhere in the world, and it is not subject to the same restrictions as traditional fiat currencies. It can also be used to facilitate cross-border transactions without the need for intermediaries.

Bitcoin price (AUD) on 1st January each year since 2016 and YTD

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