July 24, 2023, marks a significant day for Bitcoin as the Bitcoin clock ticks up to its 800,000th block.
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Since the Genesis block, Bitcoin has weathered 5,315 days, 759 weeks, 174 months, or 14 years.
Bitcoin continues to grow stronger each day. But have you ever wondered about the importance of Bitcoin to humanity?
Let's revisit the ten ways Bitcoin benefits humanity, through the lens of Austrian economics and human rights.
1) **Resistance to Government Control:** Bitcoin is a currency not controlled by any government or central bank, making it an excellent choice for those seeking financial autonomy.
2) **Inflation Protection:** Bitcoin has a limited supply of 21 million coins, making it a good hedge against hyperinflation or the devaluation of money due to excessive money printing.
3) **Global Money Transfers:** Bitcoin simplifies sending money to any corner of the world, whether it's sending money to countries with strict currency exchange controls or areas without access to financial services.
4) **Fairness:** Bitcoin is a tool that allows those without access to financial services to access digital finance, promoting equality in access to financial resources.
5) **Supporting Local Economies:** Bitcoin allows small businesses to receive payments from customers worldwide without going through payment service providers that charge high fees.
6) **Security:** Bitcoin uses blockchain technology, making transactions secure and immutable.
7) **Privacy:** Bitcoin allows users to transact without revealing their identities, making it a good choice for those seeking financial transaction privacy.
8) **Lower Transaction Fees:** Transactions with Bitcoin often have lower fees than cash or credit card transactions, especially when transacting with Bitcoin Lightning ⚡.
9) **Supporting Businesses:** Bitcoin allows businesses to receive payments from customers worldwide without going through payment service providers that charge high fees.
10) **Supporting Innovation:** Bitcoin and blockchain technology foster new innovations in finance and other industries, leading to significant changes in how we transact and manage our assets.
Bitcoin is not just a digital currency but also a tool that helps us build a more equitable and free world.
Let's be a part of building a better world together!