Why There Will By no means Be Another Bitcoin

Well, it’s been a crazy 10 years for Bitcoin. Truly it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they were, they’ve had a profound effect on the world. They little question predicted that which is why they selected to vanish from the limelight.

So over a decade later Bitcoin is still alive and stronger than ever. Hundreds of different crypto coins have come alongside since all trying to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that may’t be replicated. For those who don’t know why then let me explain.

For those who don’t know what Bitcoin is I am going to just provide you with a few temporary key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Cast

Not All Cash Are in Circulation Yet

It Is Fully Decentralized Without Anybody Controlling It

It Can’t Be Censored

It is Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each four Years

What Makes Bitcoin Completely different?

So what makes Bitcoin different to all the thousands of different 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 how the value would increase on account of it’s fixed supply, it began to develop faster.

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

Developers can upgrade and improve the Bitcoin network however this has to be achieved my consensus all through the whole Bitcoin network. No one single particular person can management Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.

There are thousands of other cryptocurrencies available now but for instance of what makes Bitcoin completely different I will use Ethereum as example. It’s 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 happens on Ethereum.

Censorship And Authorities Interference

For this instance let’s imagine that Iran is sending billions of dollars to North Korea to fund their new nuclear weapons program. This just isn’t a good situation however it’s supposed to show you how your money is safer in Bitcoin!

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

Second example. The same thing happens once more but this time Iran use the Ethereum blockchain to send the money to North Korea. The US authorities are see what is happening. A phone call is made.

“Get Vitalik Buterin in Right here NOW”

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

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

Ethereum is just an example, however it’s true for every different 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 energyless to stop it.

There is no such thing as abody to call. There is no such thing as abody to put pressure on. The Bitcoin is beyond censorship.

Each different cryptocurrency out there was created by somebody or some company and that will always be the point of failure. They’re still centralized.

One other example can be if Vitalik’s family had been taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest investment on the planet.

Study The way to Use Bitcoin

Everyone ought to own some Bitcoin. It’s not without it’s dangerous though. Should you’re new to Bitcoin then it is best to be taught as a lot much as you possibly can earlier than you make investments any money. Owning Bitcoin comes with loads of responsabilty. Learn how to use Bitcoin safely.

For folks just getting into the world of cryptocurrencies there are many hidden dangers. Don’t part with your hard earned money till you know what you’re doing!

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