The Bitcoin Street Journal Bitcoin Market Update Episode 9 Week 20

Welcome to The Bitcoin Street Journal Bitcoin Market Update, Episode 9 Week 20 Friday May 26th, 2023. Stay ahead of the game and keep your bitcoin safe from the government and central banks by tuning in to our daily live bitcoin market updates featuring technical analysis, price updates, market capitalization, and supply updates. Don't miss a beat - subscribe for daily Bitcoin news and stay updated on all things Bitcoin. In today's episode, we'll cover the advantages of Bitcoin as the true digital currency, its decentralization preventing control by rogue players and guaranteeing lasting value, usability, and scalability ensured by Lightning Network, the features of blockchain technology that enable peer-to-peer transactions worldwide and without central authority, and the rise of privacy coins and the introduction of privacy features in Bitcoin.Excitement around cryptocurrencies is at an all time high, with many people looking for “the next Bitcoin” as a way to get rich quick. However, with little understanding of digital money, it's easy for newbie investors to fall prey to scams. In fact, out of the thousands of different cryptocurrencies currently on the market, only Bitcoin has potential as true digital currency.So, how can you navigate the complex world of digital money? This user’s guide to understanding Bitcoin, sh*tcoins, and privacy coins can help. When it comes to digital money, there are a few important features a cryptocurrency should have in order to compete with traditional money.For example, a limited supply of monetary units is necessary to avoid inflation and the devaluation of the currency itself. The paper money used around the world is fiat, meaning it’s backed by nothing and can be printed into oblivion. Similarly, coins based off an infinite system have no value and will eventually fall victim to inflation or hyperinflation.When researching cryptocurrencies, it's important to find out if there’s a coin limit. Those coins with an infinite supply are simply extensions of the current fiat scheme and should be avoided. Instead, focus on Bitcoin and other coins with finite supplies to give yourself the best chance of success in the world of digital money.Wow, Bitcoin is pretty impressive, isn't it? I mean, think about it - the entire system is decentralized, and thousands of servers all over the world are constantly running to maintain the blockchain. Even if one computer turns off, the entire system remains untouched. If a country's Bitcoin servers are taken offline, it won't matter because the system is running in millions of other places, ready to take over.This is a major advantage of Bitcoin over centralized systems because it means that no rogue player or government can control it. And if a cryptocurrency is going to be used as true digital money, decentralization is key. It's the only way to ensure that scammers can't steal coins or governments can't manipulate the currency.Now, let's talk about usability. People won't use technology that's confusing or difficult to use. Since cryptocurrencies are meant to be used as money, they have to be user-friendly. So any crypto worth its salt will have developers who focus on usability. That means fast, easy apps, website payment plugins, and easy transactional ability.