The one thing that makes bitcoin really stand out is the fact that it is decentralized. Decentralization moves power away from the few and redistributes it amongst the many. When it comes to bitcoin nobody is actually in charge and running the show but a peer to peer group consensus allows it to function.
Whilst bitcoin enjoys very low transaction fees, costs for those miners determining the consensus can be comparatively high. These costs must be minimized for the decentralized system to remain competitive. The decentralized nature of the system allows payments to flow freely without outside interference such as government or regulatory intervention that one often sees in a centralized system. Funds cannot be released to third parties unlike in a centralized system.
Bitcoin in its decentralized form displays an amazing resistance to attack. There is no single point where it can be shut down; only the impossible scenario of every node being neutralized could put it out of action.
Bitcoin is not just a means of transferring value, but represents a shift towards decentralization in society in general. Bitcoin has allowed us to release ourselves from the grasp of corrupt government bodies and controlling central banks. Bitcoin is leading the way to show decentralized solutions to the centralized problems of today.
