Why There Will By no means Be One other Bitcoin

Well, it’s been a loopy 10 years for Bitcoin. Truly it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they had been, they’ve had a profound impact on the world. They little doubt predicted that which is why they chose to disappear from the limelight.

So over a decade later Bitcoin is still alive and stronger than ever. Thousands of different crypto coins have come along since all attempting to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that can’t be replicated. In the event you don’t know why then let me explain.

When you do not know what Bitcoin is I’ll just offer you a number of brief key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Forged

Not All Cash Are in Circulation But

It Is Absolutely Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Different?

So what makes Bitcoin completely different to all the 1000’s of other coins which have been invented since?

When Bitcoin was first invented it began to spread slowly amongst a small group of people. It grew organically. When people started to see the benefits of Bitcoin and the way the price would improve as a consequence of it’s fixed provide, it started to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of computer all over the world. It has spread past the control of any government. It is creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network but this needs to be performed my consensus throughout the whole Bitcoin network. Nobody single particular person can management Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.

There are literally thousands of other cryptocurrencies available now but for instance of what makes Bitcoin different I am going to use Ethereum as example. It is a one of many biggest Alt coins proper now and has been since it was invented in 2015 by Vitalik Buterin.

Vitalik controls the Ethereum blockchain and basically has the ultimate say on any development that occurs on Ethereum.

Censorship And Authorities Interference

For this example let’s imagine that Iran is sending billions of dollars to North Korea to fund their new nuclear weapons program. This is not a very good situation but it’s alleged to show you the way your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the standard banking system and transferring this cash to North Korea in USD. The US authorities say cling on a minute, we have to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.

Second example. The same thing happens again but this time Iran use the Ethereum blockchain to ship the cash to North Korea. The US government are see what’s happening. A phone call is made.

“Get Vitalik Buterin in Right here NOW”

The US authorities “places some pressure” on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has actually been rolled back earlier than when a hacker stole a significant quantity of funds).

Problem solved. Unfortunately Ethererum’s credibility could be ruined along with it’s price.

Ethereum is just an example, however it’s true for each other cryptocurrency.

Bitcoin Cannot Be Stopped

So the same thing occurs again. This time Iran use Bitcoin as their payment method. The US Authorities see this and are powerless to stop it.

There is nobody to call. There isn’t abody to place pressure on. The Bitcoin is beyond censorship.

Every other cryptocurrency out there has been created by somebody or some company and that will always be the purpose of failure. They are still centralized.

One other example would be if Vitalik’s household have been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest investment on the planet.

Learn Learn how to Use Bitcoin

Everybody ought to own some Bitcoin. It’s not without it’s harmful though. In the event you’re new to Bitcoin then you should learn as a lot a lot as you can before you make investments any money. Owning Bitcoin comes with numerous responsabilty. Learn how to use Bitcoin safely.

For people just coming into the world of cryptocurrencies there are many hidden dangers. Don’t part with your hard earned cash until you know what you’re doing!

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