Benchmark Bitcoin

Bitcoin Benchmark 100000 is the maximum score

trust (Max 50000 points)

marketshare

This crypto asset aims to be a world currency. Points rewarded: (8000/10000)
Smart contracts are already functional on a sidechain, however it is as of yet not open to the public.
First of all RSK wants to await to have more miners on-board to assure security. For now I did not select Smart Contracts as being an integral part
of Bitcoin as it still has to prove itself.
Primarily Bitcoin was build to function as a decentralised crypto currency.

partners

I rated the partnerships of this crypto asset as 10 out of 10! Points rewarded: (7500/7500)
Bitcoin is being accepted by several major companies as a form of payment. A list of companies that accepts Bitcoin is available at: 99bitcoins

transparancy

This crypto asset is transparant. Points rewarded: (7500/7500)
Bitcoin is open-source, fully transparent. If your interested in figuring out what is being developed or like to contribute you can easily join
the development freenode irc.

developers

I gave the developers 10 out of 10! Points rewarded: (7500/7500)
The amount of developers contributing to Bitcoin, due to Bitcoin being the first decentralized crypto asset is huge. It is an open source project, meaning anyone can contribute and as long as the majority of developers agree the change can be merged into the blockchain. Grading an open source team is difficult, however doing some research in the way the structure works and how the software is being implemented, it is fair to say the quality of the development and the way things get implemented is stricter than in most business environments. I would therefore rate Bitcoin development the highest score. Some of the Developers involved next to
the many others that contribute.

legality

This crypto asset is seen as a store of value, like cash. Points rewarded: (7500/7500)
It fails the howey test, there is no common enterprise and there is no third party making raising profit. source

first mover

This crypto asset has the first mover's advantage Points rewarded: (2500/2500)
Bitcoin launched in 2009, it differed from it's predecessorts in it's decentralized status and it's development of blockchain technology. source

years active

This crypto asset started 9 years ago! Points rewarded: (2500/2500)
no elaboration required

competitors
The top 5 competitors of this crypto asset are: ETH/LTC/BCH/ZEC/BCN

technical (Max 25000 points)

decentralised

I rated the decentralisation of this crypto asset as 10 out of 10! Points rewarded: (6250/6250)
In terms of the Bitcoin network and the amount of nodes being used, it is very decentralised. The decentralization of Bitcoin is proportional to the square of the number of nodes. There is most likely however a case to be made for the fact that mining is becoming more and more centralized towards one country.
China is now mining more than 70% of Bitcoins as electricity there is cheaper and as long as the difficulty increases over time, this percentage
will grow.

future proof

This crypto asset requires a lot of upgrades to be future proof. Points rewarded: (0/6250)
There are still many hurdles to overcome for Bitcoin core, although the recent update has shown significant improvements in terms of fees and transaction confirmation time, scalibility remains an issue. The Bitcoin code is very robust and kept simple by the original writers to keep the code as secure as possible.
For this reason updating Bitcoin core will probably only be done by adding layers to it. As is shown by implementing the Lightning Network and smart contracts.
Whether these extra layers can be implemented without scarying off the Bitcoin userbase remains to be seen, especially as there are alternatives that don't have the issues Bitcoin deals witih. Fungibility could potentially become a huge issue as well for Bitcoin as long as it is easy to trace.

governance

This crypto uses Proof of Work(POW). Points rewarded: (5000/5000)

uniqueness

I give this crypto asset a uniqueness rating of 6 out of 10! Points rewarded: (2250/3750)
Bitcoin was the first coin of it's kind, there are many other crypto currencies now that are more unique in terms of the technology behind.
Many of them could function as a crypto currency and offer faster/scalable solutions to the blockchain technology. In terms of uniqueness compared to other
crypto assets I would grade it a 6.

working product

This crypto has a working product. Points rewarded: (2500/2500)
It is a working decentralized crypto currency, which it originally set out to be.

eco friendly

This crypto asset is not environmentally friendly. Points rewarded: (1250/1250)
source. Bitcoin energy consumption could power a country.

properties (Max 25000 points)

fees

This crypto asset has low fees. More than 0.01$ but less than 0.25$ per transaction. Points rewarded: (5625/7500)
source. The fees have dropped a lot lately. Compared to a median fee of 34 dollars a few months ago.

max trans per sec

This crypto asset can handle less than 100 transactions per second. Points rewarded:
(0/6250)
source. Bitcoin can handle approximately 7 tx. per second. With Segwith this could go up to 30 tx. per second.

transaction time

This crypto asset has a ridiculously high transaction time. More than than 15 minutes. Points rewarded: (0/5000)
source. Median confirmation time of around 10 minutes in the last month. It is true that some transactions are accepted by 1 confirmation, however as it is deemed more safe to have at least 6 confirmations, it means that Bitcoin could take up to an hour before arriving safely.

fungible

This crypto asset is not fungible. Points rewarded: (0/3750)
Although sources mention that Bitcoin in it's core is fungible: source. As long as Bitcoin isn't fully anonymous and can be traced fairly easily, third
party services can blacklist and decide which Bitcoins they accept and which not. This is a big issue for any crypto asset as this will mean a user
will have to assure that his or her crypto asset is actually not tainted. source.
The lightning network will help towards fungibility as it will allow off-chain transactions.

traceable

This crypto asset is very easy to trace. Points rewarded: (0/1250)
Bitcoin is pseudo anonymous. However if not taking precautions or using services that use KYC and AML, it is easy to trace the transaction and
eventually couple the event to an ip which then could be coupled to a person.
Ways of making your transaction more private can be read here. A video showing how transactions can be traced and linked to for instance mobile text messages: here.

total trans per day

This crypto asset has more than 100k but less than 500k transactions per day. Points rewarded: (938/1250)
Bitcoin is doing 190000 tx per day: source

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