ChasingNines

What Does Bitcoin Solve?

Centralization: Bitcoin alleviates the need for a centralized third-party system — like a credit card company or a central bank — to confirm and validate transactions. Rather than requiring the current base-layer financial system to broker our transfers and settlements, Bitcoin works purely peer-to-peer, ridding the need for trust in a centralized government controller.

Verifiability: Bitcoin enables unit-level currency validation that isn't possible with fiat (government-backed money). For instance, there are plenty of fake dollar bills in circulation (the U.S. Treasury estimates that one in every 10,000 bills is counterfeit) that the average person fails to discover. However, nobody can create fake bitcoin because the Bitcoin network is secured cryptographically via a public blockchain that anybody can access and validate any amount of bitcoin as real.

Inflation: Bitcoin's supply is capped at 21 million. There will never be any more bitcoin than that. No one can just "print more bitcoin" like we currently print dollars, inflating the money supply. Unlike fiat currencies, bitcoin doesn't take away your purchasing power over time.

Be careful to crypto mining apps, specially the one with ads.
Mining needs proof-of-work. Proof-of-work needs lots of energy and high computation power.
Verify first.

Google Removes 8 Deceptive Cryptocurrency Mining Apps From Play Store — 120 More Fake Crypto Apps Found Online – Mining Bitcoin News Cybersecurity firm Trend Micro has detected over 120 deceptive cryptocurrency mining apps online. Some of them were found in the Google Play Store, which the internet giant promptly removed. However, there are still "numerous concerning applications of the same type" and "Some of these apps have eve...