Why There Will By no means Be One other Bitcoin

Well, it’s been a crazy 10 years for Bitcoin. Really it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they were, they’ve had a prodiscovered impact 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 different crypto coins have come alongside since all making an attempt to imitate the king of Crypto. All have failed and will proceed to fail. Bitcoin is one a kind. Something that can’t be replicated. When you do not know why then let me explain.

In case you don’t know what Bitcoin is I am going to just provide you with a few brief key factors:

Bitcoin Is An Online 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 Can’t Be Censored
It’s Peer to Peer Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each 4 Years
What Makes Bitcoin Totally different?
So what makes Bitcoin different to all of the hundreds 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 individuals started to see the benefits of Bitcoin and the way the worth would improve because of it’s fixed supply, it began to develop faster.

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

Developers can upgrade and improve the Bitcoin network however this has to be done my consensus all through the whole Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.

There are thousands of different cryptocurrencies available now however for example of what makes Bitcoin completely different I will use Ethereum as example. It is 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 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 is just not an excellent situation but it’s speculated to show you ways your money 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 hold on a minute, we have 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 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 authorities “places some pressure” on Vitalik they usually make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has really been rolled back earlier than when a hacker stole a significant amount of funds).

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

Ethereum is just an example, but it’s true for each different 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 powerless to stop it.

There isn’t abody to call. There is nobody to put pressure on. The Bitcoin is beyond censorship.

Each other cryptocurrency out there was created by somebody or some firm and that will always be the purpose of failure. They are still centralized.

One other instance would be if Vitalik’s family had been taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest investment on the planet.

Learn Find out how to Use Bitcoin

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

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

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