Why There Will By no means Be One other Bitcoin

Well, it’s been a loopy 10 years for Bitcoin. Really it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they had been, they’ve had a prodiscovered effect on the world. They little question predicted that which is why they selected 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 trying to imitate the king of Crypto. All have failed and will proceed to fail. Bitcoin is one a kind. Something that may’t be replicated. If you happen to don’t know why then let me explain.

In the event you do not know what Bitcoin is I will just offer you a couple of brief key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Cast

Not All Cash Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Cash

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each four Years

What Makes Bitcoin Totally different?

So what makes Bitcoin different to all the hundreds of other coins which have been invented since?

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

The Bitcoin blockchain is now spread throughout hundreds of thousands of computer all over the world. It has spread beyond the management 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 finished my consensus throughout the whole Bitcoin network. Nobody single person can control Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are thousands of different cryptocurrencies available now but for instance of what makes Bitcoin completely different I will use Ethereum as example. It is a one of many biggest Alt coins right 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 Government 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 shouldn’t be a very good situation however it’s imagined to show you ways your cash is safer in Bitcoin!

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

Second example. The identical thing occurs again but this time Iran use the Ethereum blockchain to ship the cash to North Korea. The US authorities are see what is happening. A phone call is made.

“Get Vitalik Buterin in 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 actually been rolled back before when a hacker stole a significant amount of funds).

Problem solved. Sadly Ethererum’s credibility could be ruined alongside 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 happens again. This time Iran use Bitcoin as their payment method. The US Government see this and are powerless to stop it.

There is no such thing as abody 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 point of failure. They’re still centralized.

Another instance could be if Vitalik’s family had been taken hostage.. Bitcoin is past any of this and that is why it’s the safest funding on the planet.

Study The right way to Use Bitcoin

Everyone should own some Bitcoin. It isn’t without it’s harmful though. In case you’re new to Bitcoin then you need to be taught as a lot much as you possibly can before you invest any money. Owning Bitcoin comes with loads of responsabilty. Discover ways to use Bitcoin safely.

For folks just getting into the world of cryptocurrencies there are lots of hidden dangers. Don’t part with your hard earned cash until you know what you are doing!

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