In this world of digital virtual life, the new invention of the digital currency must be something really magical and different from the traditional money. Some characters that a new digital currency must have been listed here, you will be able to judge it for yourself.
In other words, these are the qualities of the bitcoin or the digital currency which is currently on fire all across the world. There has been a bitcoin-revolution since 2009 and it became worldwide in a very short time.
In the above paragraph, we explained what criteria does a bitcoin hold or must hold as a digital currency. But here we will discuss what are the actual qualities that a bitcoin holds and also some factors about bitcoins,
If we take the real situation into consideration, then we will find that traditional money is completely controlled by some organization or the government. In other words, it means that the amount of the flow of the currency in the economy is determined by the authorities who maintain it.
Now there are some very simple techniques which come into use by the governments’ intervention and as a result of it what happens is the government as the power to print more money. The fact is that the government needs more money than what is incurred through taxes and another form of payments to the government. So they have their own power to print money according to their wish and withdraw more money from the economy. Hence, they control the flow of the money in the system.
The flaws that are present in the traditional currency is missing from the system of the bitcoins. The distribution amount and the flow of the bitcoins in the financial sector of the world are very clean and transparent. These give value to bitcoins more than money is valued.