Why There Will By no means Be One other 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 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. 1000’s of different crypto coins have come alongside since all attempting 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 do not know why then let me explain.

If you happen to do not know what Bitcoin is I am going to just offer you just a few transient key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Solid

Not All Coins Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Can’t Be Censored

It is Peer to Peer Cash

Anyone 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 of 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 result of it’s fixed provide, it began to develop faster.

The Bitcoin blockchain is now spread across hundreds of thousands of laptop all around the world. It has spread beyond the management of any government. It is creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network but this must be accomplished my consensus throughout the entire Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin unique and not possible to replicate.

There are literally thousands of other cryptocurrencies available now but for example of what makes Bitcoin different I’ll 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 final 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 shouldn’t be a great situation however it’s supposed to show you how your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the usual banking system and transferring this money to North Korea in USD. The US government say dangle 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 same thing occurs once more however this time Iran use the Ethereum blockchain to send the money to North Korea. The US authorities are see what’s happening. A phone call is made.

« Get Vitalik Buterin in Here NOW »

The US authorities « 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 quantity of funds).

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

Ethereum is just an instance, but it’s true for each other cryptocurrency.

Bitcoin Cannot Be Stopped

So the identical thing happens again. This time Iran use Bitcoin as their payment method. The US Government 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 place pressure on. The Bitcoin is beyond censorship.

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

Another instance would be if Vitalik’s household were taken hostage.. Bitcoin is past any of this and that is why it’s the safest funding on the planet.

Be taught Find out how to Use Bitcoin

Everyone should own some Bitcoin. It is not without it’s dangerous though. When you’re new to Bitcoin then it is best to study as a lot much as you can before you invest any money. Owning Bitcoin comes with a lot of responsabilty. Learn to use Bitcoin safely.

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

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