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According to Gavin Anderson, the first thing he focused on after Nakamoto left the project was more decentralization. Anderson wanted Bitcoin to continue to exist independently, even if "he had an accident."

For many people, the main advantage of Bitcoin is its independence from banks, corporations, and governments around the world. No single authority can interfere with Bitcoin transactions, impose transaction fees, or seize people's funds. Furthermore, Bitcoin transactions are extremely transparent - every transaction is recorded in a large distributed public ledger called the blockchain.

Essentially, while Bitcoin is not controlled as a network, it gives users complete control over their money.

Bitcoin was initially created as a payment method, and in some specific cases, it functions exactly as intended. However, it lacks widespread adoption and is currently experiencing significant volatility, making it difficult to consider it a true alternative to fiat currency: vendors need to constantly adjust their prices to deal with the fluctuating movements in its value.

This means that Bitcoin is primarily used as an investment, similar to gold and other precious metals, rather than as a traditional currency. Like commodities, the currency transcends the direct impact of a specific economy and is not significantly affected by changes in monetary policy.

Remember that while Bitcoin is not influenced by many of the factors that affect traditional currencies, there are several unique influences that should be considered.

Bitcoin is a digital currency secured through encryption, which is traded outside the jurisdiction of a central authority. This currency was created in 2009 by an enigmatic person who called himself Satoshi Nakamoto, and the currency was primarily introduced to be used in payment transactions that are not subject to government oversight, transaction fees, or delays in transfers - unlike traditional "fiat" currencies.

Back in 2010, the price of Bitcoin was about $0.003 per coin. In October 2017, the price of the currency rose to $4,200 - although this value has experienced fluctuations, with swinging and recurring daily movements. At this time, hundreds of other virtual currencies emerged, each with its own advantages and applications. However, few of these currencies hold significant value, but Bitcoin has competitors in the form of Ethereum and Bitcoin Cash, along with Litecoin to a lesser extent.

Bitcoin is the most traded digital currency in the world, and it is the largest currency by market capitalization. It was the first digital currency, and it remains the most famous and widely used digital currency in the world. It is the leading currency that all other digital currencies follow.

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