Why There Will Never Be Another 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 impact on the world. They little question 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 other 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. When you do not know why then let me explain.
If you happen to don’t know what Bitcoin is I will just give you just a few transient key factors:
Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Cannot Be Cast
Not All Coins Are in Circulation Yet
It Is Totally Decentralized Without Anybody Controlling It
It Can’t Be Censored
It’s Peer to Peer Money
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every 4 Years
What Makes Bitcoin Completely different?
So what makes Bitcoin different to all the thousands of other coins which have been invented since?
When Bitcoin was first invented it began to spread slowly among a small group of people. It grew organically. When people started to see the benefits of Bitcoin and the way the price would enhance as a result of it’s fixed provide, it began to develop faster.
The Bitcoin blockchain is now spread across hundreds of hundreds of laptop all around the world. It has spread beyond the management of any government. It’s creator has vanished and now it runs autonomously.
Builders can upgrade and improve the Bitcoin network but this has to be achieved my consensus all through the whole Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.
There are thousands of different cryptocurrencies available now but as an example of what makes Bitcoin totally different I am going to use Ethereum as example. It’s 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 final say on any development that occurs 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 shouldn’t be a very good situation however it’s speculated to show you ways your cash is safer in Bitcoin!
Anyway.. first example. Iran is utilizing the standard banking system and transferring this cash to North Korea in USD. The US government 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 again but this time Iran use the Ethereum blockchain to send the cash 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 “puts 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 before 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, but it’s true for every other cryptocurrency.
Bitcoin Cannot Be Stopped
So the same thing occurs again. This time Iran use Bitcoin as their payment method. The US Government see this and are powerless to stop it.
There is nobody to call. There isn’t abody to put pressure on. The Bitcoin is beyond censorship.
Every other cryptocurrency out there was created by someone or some firm and that will always be the point of failure. They’re still centralized.
Another example would be if Vitalik’s household had been taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest investment on the planet.
Study Tips on how to Use Bitcoin
Everyone ought to own some Bitcoin. It isn’t without it’s harmful though. When you’re new to Bitcoin then you must study as a lot a lot as you’ll be able to earlier than you invest any money. Owning Bitcoin comes with a number of responsabilty. Learn to use Bitcoin safely.
For individuals just entering the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned cash till you know what you’re doing!
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