A different perspective for Bitcoin

I will keep it as short as possible by breaking it from different readers perspective,

From economic perspective,

Since Egyptian days, humanity settled on using gold and silver coins as money after the barter system. They did not use some coins made out of wood or some stones as money because it did not make much sense. It did not make much sense because they knew what money meant. It has few sets of property, most important of them being store of value. Gold and silver stored some amount of value but random stone and wood pieces did not as Gold and silver coins were hard to produce but anyone could generate random stones and wood pieces. This all worked fine till the 1910s. Then the central bank concept emerged. They added the element of trust. They said we will circulate a piece of paper and it will have a store of value as we will make sure that it will be in limited quantity. But that trust was failing year by year. Big trust failure happened in 1971 and bigger in 2008. Since then all around the world countries are printing like hell especially in this pandemic (I always used to ask as a child what is the whole point of tax if it can be printed?). If you want more detailed clarification on money - https://www.youtube.com/watch?v=DyV0OfU3-FU&t=40s

From technology perspective,

We are in the age of great technological advancements. We transfer value from one point to another over the internet. Think of internet banking and mobile banking, we are not using paper currencies but still transfering the value. Obviously we cannot use Gold and Silver as the money in this era. But also we cannot trust the centralized banks with our earnings as they dilute the purchasing power by printing. Bitcoin was born on 3rd January 2009 addressing this problem. So Bitcoin is decentralized, meaning you don't have to trust any centralized entity with your value. You are your own bank. Implementation of the technology is beyond the scope, you can learn about its struggle in this series WARNING ADULT CONTENT - https://www.youtube.com/watch?v=dCi3X3AbgT4

From game theory perspective,

You can only mine "21 million" bitcoin, just like Gold where you can only mine the amount of gold present in the earth. Now approximately 18 odd million is mined since its birth. It is estimated that approximately by 2140 whole 21 million will be mined. Well you may ask 18 odd million in 11 odd years and rest 2 odd millions need 120 odd years?! Well that's the game theory in use. It is the same with the Gold, initially when you when mining you had in abundance. Now big machinery is required to mine a little.

Bitcoin has a fixed inflation rate. bitcoin is mined approximately every 10 min. And the number of bitcoin mined in that 10 min reduces  approximately every 4 year. Initially if you were mining you would get 50 bitcoins till 28 November 2012, after that you could mine only 25 bitcoin every 10 min. This event is called "halving". Currently the mining reward is 6.25 bitcoin after 2 halving on 9 July 2016 and May 11th 2020. Since this is reduced in half every time, it is expected that by 2140 (when none of us will be) all 21 million will be mined.