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Bitcoin is a unique form of money with key features that differentiate it from traditional currencies.
For example, BTC has a limited supply. Unlike traditional currencies, whose supply can both change unpredictably and only be roughly estimated, bitcoin’s is limited to 21 million, increases on a predefined schedule, and can be audited by anyone.
Bitcoin is also globally accessible, always online, can be sent or received with as little as a mobile phone and internet connection, and directly exchangeable for most other monies in the world.
It is the combination of its properties that differentiates it from other monies.
Most of bitcoin’s relative strengths, like its scarcity and transferability, are built into the Bitcoin protocol, making them predictable and unchanging — we call these fixed properties.
In other aspects, such as volatility or merchant acceptance, which can vary as a type of money is more or less used over time, BTC is less competitive — we call these variable properties.
Bitcoin's mix of properties makes it a highly competitive monetary option in many parts of the world, but in countries with strong local currencies, it is much less competitive.