In today's digital age, Bitcoin has attracted much attention as a virtual currency. However, there are questions about whether Bitcoin truly counts as a currency. This article will delve into the monetary properties of Bitcoin and conduct a detailed analysis of six major differences between Bitcoin and the French currency to reveal the similarities and differences between the two.

 Bitcoin: An exploration of currency properties

As a decentralized, encrypted digital currency, Bitcoin's properties as a currency are highly controversial. Traditional currencies should have the characteristics of general equivalents, means of circulation, scale of value, and means of payment. Whether Bitcoin meets these standards is worthy of in-depth discussion.

First, Bitcoin’s properties as a general equivalent are reflected in its widespread acceptance and use for exchanging value. For example, Japan has recognized Bitcoin as a legal payment method, and some merchants also accept Bitcoin payments. This shows that Bitcoin has the characteristics of a general equivalent to a certain extent.

Secondly, the attribute of Bitcoin as a means of circulation is that it can be traded and circulated within a specific range. However, due to the volatile price of Bitcoin, some people prefer to use it as a store of value rather than a means of circulation.

Furthermore, Bitcoin’s properties as a measure of value can be reflected in its relatively stable value. Although the price of Bitcoin fluctuates greatly, its value fluctuations are more affected by supply and demand and market sentiment than traditional currencies.

Finally, the attribute of Bitcoin as a payment method lies in its convenient cross-border payment function. Due to the decentralized nature of Bitcoin, cross-border payments are more convenient and transactions are faster, which gives Bitcoin certain advantages in international trade.

 Six major differences between Bitcoin and French currency

1. Different issuing entities: Bitcoin is issued by a decentralized blockchain network, while French currency is issued by the French Central Bank.

2. Value Stability: The French currency is supervised by the French government and the European Central Bank and has a relatively stable value, while the price of Bitcoin fluctuates greatly and its value is unstable.

3. Regulators: The French currency is regulated by the French government and the European Central Bank, while Bitcoin is not controlled by any central agency.

4. Transaction Transparency: Bitcoin’s transaction records can be publicly viewed on the blockchain and have high transparency, while the transaction records of French currency are relatively closed.

5. Fungibility: French currency has legal tender status within France and can be used to pay various bills and taxes, while Bitcoin is not yet widely accepted globally.

6. Risk and Security: Bitcoin is subject to risks such as being hacked and losing private keys, but French currency, as legal tender, is relatively safer and more reliable.

Through the six major differences between Bitcoin and French currency, we can see the differences between virtual currency and traditional legal tender, which also highlights the uniqueness and challenges of Bitcoin as a new digital currency.

 Conclusion

In this era of booming digital currency, Bitcoin, as a new form of currency, has triggered people's thinking about the nature of currency. Although Bitcoin conforms to the properties of currency in some aspects, it still has many differences from traditional fiat currencies. By analyzing the differences between Bitcoin and French currency, we can better understand the characteristics, advantages and disadvantages of different currency forms. In the future, with the continuous development of digital currency technology, the status and role of Bitcoin will become more deeply rooted in the hearts of the people. Let us wait and see the evolution and development of monetary forms.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Is Bitcoin a currency

Bitcoin is not only a digital currency for users to store and trade, but also the general name for the technology that makes up the entire system ecosystem. Using Bitcoin to transfer money can perform the same functions as traditional currencies, such as purchasing goods, remitting money to others, or providing loans. Moreover, the greater advantage of the Bitcoin network is that it is "global without borders". You don't have to worry about many restrictions and restrictions of banks when making cross-border transfers. High handling fees.

But unlike traditional currencies, Bitcoin is virtual and does not physically print money.

6 characteristics that distinguish Bitcoin from traditional currencies

1\. Decentralization

Bitcoin itself is an open source software program. The Bitcoin protocol is maintained by volunteer core developers, and the operation of the entire network relies on all nodes.

Through distributed ledger technology, cleverly combining cryptography and economic incentive mechanisms, each "participant" can contribute to the Bitcoin network on the basis of consistent interests and goals, and jointly maintain the Bitcoin program and decentralization. safe operation.

2\. Assets that users can independently own

The emergence of Bitcoin has attracted some people who do not trust central institutions such as banks and governments. They prefer to own assets independently, just like they would rather keep their gold at home instead of converting it into banknotes and depositing it in the bank.

Bitcoin uses a string of keys called "Private keys"
Key)" string to control the Bitcoins you own. The Bitcoin blockchain recognizes the key and does not recognize the person. No one without the private key can use the Bitcoins you own. Therefore, unless your private key is lost or stolen, only you in the world can control the Bitcoins you own, and neither the government nor the bank can intervene.

3\. Bitcoin supply is limited

The supply of traditional legal currencies such as the US dollar and the Japanese yen can be adjusted by the central bank based on market economic conditions, and the results of all adjustments will be shared by the citizens of the countries that use these currencies.

The overall supply of Bitcoin is regulated by the Bitcoin protocol, and the new issuance of Bitcoin will be halved every four years. The total number of Bitcoins is set to be approximately 21 million. If the basic protocol of Bitcoin remains unchanged, all Bitcoins will be produced by 2140. As of 2018, more than 17 million units have been produced. In theory, if the supply gradually becomes fixed and demand continues to increase, the value will rise.

4\. Bitcoin can be divided into tiny units

A Bitcoin can be continuously divided. The smallest unit of Bitcoin is called "Satoshi", which is one hundred millionth of a Bitcoin (0.00000001), just like a RMB that can be divided into one hundred millionth of a yuan.

5\. Transaction records are transparent and traceable

Users only need to download a digital wallet. After creating an account, the wallet program will provide you with a string code called "Address". It is like a bank account. If you provide address information to others, they can transfer their Bitcoins. Assets are transferred to your address, but this address will not be linked to identity information.

Transaction records that have occurred will be permanently stored in the Bitcoin network. After the address is used, everyone can review the transaction history of this anonymous address.

6\. Transactions are difficult to reverse

Suppose you are subject to transfer fraud in a traditional bank. The bank has the ability to freeze or even charge back the order. But in the Bitcoin system, all operations are decentralized. There is no centralized institution like a bank that has the authority to decide whether the transaction is successful or not. Therefore, once the transaction in Bitcoin is authenticated, all ledgers will be Synchronously updated, transactions are difficult to reverse.