Why There Will By no means 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 profound 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. Hundreds of other crypto coins have come along since all attempting 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. Should you don’t know why then let me explain.

Should you don’t know what Bitcoin is I will just give you a few temporary key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Solid

Not All Coins Are in Circulation Yet

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Cash

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every four Years

What Makes Bitcoin Completely different?

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

When Bitcoin was first invented it started to spread slowly amongst a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and the way the worth would improve because of it’s fixed provide, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of laptop all over the world. It has spread past 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 carried out my consensus throughout the entire Bitcoin network. Nobody single person can control Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.

There are millions of different cryptocurrencies available now however as an example of what makes Bitcoin totally different I am going to use Ethereum as example. It’s a one of the 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 occurs 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 isn’t a very good situation but it’s speculated to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the usual banking system and transferring this cash 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 try this straight away and the problem is over.

Second example. The same thing happens once more however this time Iran use the Ethereum blockchain to ship 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 government “puts some pressure” on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has truly 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 instance, however it’s true for every other cryptocurrency.

Bitcoin Can’t Be Stopped

So the same thing occurs again. This time Iran use Bitcoin as their payment method. The US Authorities see this and are powerless to stop it.

There is no such thing as abody to call. There isn’t abody to put pressure on. The Bitcoin is past censorship.

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

Another example 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 investment on the planet.

Be taught Methods to Use Bitcoin

Everybody should own some Bitcoin. It’s not without it’s harmful though. In the event you’re new to Bitcoin then you should be taught as much a lot as you’ll be able to before you invest any money. Owning Bitcoin comes with a lot 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 money till you know what you are doing!

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