Overview

Bitcoin is a form of electronic cash that is decentralized, so it is not controlled by a single entity. It is the first decentralized digital currency and promotes financial freedom and independence in a digital, global economy. 

What is it really?

Bitcoin allows for peer-to-peer transactions without the involvement of banks, also known as intermediaries. Transactions are completed on a secure network called the blockchain, where mathematical problems are solved in order to validate transactions and collect additional bitcoin, also known as proof of work. The proof of work system allows individuals to send and receive Bitcoin from anywhere in the world, instantly and at a fraction of the cost, making it a borderless alternative to traditional currencies.

How does Bitcoin provide value to me?

• Decentralized: cannot be controlled by a single entity

• Transaction data is maintained by a decentralized global network that is immutable (meaning it can not be changed)

• Scarce: there will only ever be 21 million BTC 

• Enables financial freedom and a trustless exchange 

How is Bitcoin different to traditional currencies?

• Your Bitcoin is yours →Unlike traditional currency, no one can freeze or confiscate it if you hold the private keys

• Having a set 21 million Bitcoin protects it from inflation → Bitcoin can’t be printed or devalued the way traditional currencies can be

• No bank account necessary → Facilitates a global economy because anyone with access to the internet can participate 

What are the use cases of Bitcoin:

1. Store of Value (“Digital Gold”): 14.6% of households https://www.reuters.com/markets/us/underbanked-households-more-likely-own-crypto-fdic-report-says-2024-11-12/?utm_source=
2. Cross-Border Payments & Remittances: of 6,600 adults across 15 countries, 87% of Bitcoin owners said their household regularly sends or receives cross‑border remittances https://www.businesstoday.in/latest/corporate/story/87-bitcoin-holders-regularly-send-or-receive-cross-border-remittances-survey-400875-2023-10-05?utm_source= 
3. Peer-to-peer transaction: average daily transactions are ~300,000‑400,000 in 2025 https://sqmagazine.co.uk/bitcoin-statistics/?utm_source= 
4. Financial Access (Banking the Unbanked): Globally ~1.4 billion adults lacked a bank or mobile money account as of ~2021 https://yellow.com/research/beyond-the-trading-floor-how-cryptocurrency-is-reshaping-financial-access-in-the-global-south?utm_source= 
5. Instituational and Corporate Treasury Use: 61 publicly listed companies held about 673,897 BTC (~3.2% of supply) as of June 2025 https://cointelegraph.com/news/61-corporate-bitcoin-strategy-standard-chartered?utm_source= 

Want to understand more?

Bitcoin is a complex, but incredibly important, new technology. If you feel lost or overwhelmed while learning about it, you are not alone. At Ridgeline Mining, our goal is to help you on your individual journey, so if you have any questions keep exploring our articles or please reach out to us at support@ridgelinemining.com