Why There Will Never Be One other Bitcoin

Well, it’s been a loopy 10 years for Bitcoin. Actually it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they were, they’ve had a prodiscovered effect 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. 1000’s of other 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. In case you don’t know why then let me explain.

If you happen to do not know what Bitcoin is I will just give you a number of transient key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Forged

Not All Cash Are in Circulation Yet

It Is Fully 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 Every 4 Years

What Makes Bitcoin Totally different?

So what makes Bitcoin totally different to all the thousands 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 how the worth would enhance due to it’s fixed supply, it started to grow faster.

The Bitcoin blockchain is now spread across hundreds of 1000’s of computer all over the world. It has spread past the management of any government. It is creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network but this has to be achieved my consensus throughout the entire Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin distinctive and inconceivable to replicate.

There are thousands of other cryptocurrencies available now however for example of what makes Bitcoin different I will 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 Government 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 great situation but it’s speculated to show you ways 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 grasp 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 identical thing happens again however 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 Here NOW”

The US government “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 before when a hacker stole a significant amount of funds).

Problem solved. Sadly Ethererum’s credibility would be ruined alongside with it’s price.

Ethereum is just an instance, but it’s true for each 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 isn’t abody to call. There isn’t anybody to put pressure on. The Bitcoin is past censorship.

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

One other instance can be if Vitalik’s household had been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest funding on the planet.

Study The right way to Use Bitcoin

Everybody should own some Bitcoin. It isn’t without it’s harmful though. If you happen to’re new to Bitcoin then it is best to study as much a lot as you’ll be able to earlier than you invest any money. Owning Bitcoin comes with lots of responsabilty. Discover ways to use Bitcoin safely.

For individuals just entering the world of cryptocurrencies there are lots of hidden dangers. Don’t part with your hard earned money until you know what you’re doing!

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