Why There Will By no means Be One other Bitcoin

Well, it’s been a loopy 10 years for Bitcoin. Truly it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they have been, 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. 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. For those who do not know why then let me explain.

When you don’t know what Bitcoin is I will just give you a couple of temporary key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Cast

Not All Cash Are in Circulation Yet

It Is Absolutely 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 Each four Years

What Makes Bitcoin Different?

So what makes Bitcoin different to all the thousands of different 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 folks started to see the benefits of Bitcoin and the way the price would increase as a result of it’s fixed provide, it started to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of computer all around the world. It has spread beyond the control of any government. It’s creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network but this needs to be executed my consensus all through the entire Bitcoin network. No one single individual can control Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are millions of other cryptocurrencies available now but as an example of what makes Bitcoin completely different I’ll 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 final say on any development that happens 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 just isn’t a superb situation however it’s alleged to show you ways your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the usual banking system and transferring this cash to North Korea in USD. The US authorities say cling 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 happens once more however 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 Here NOW»

The US authorities «puts some pressure» on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has really been rolled back before when a hacker stole a significant quantity of funds).

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

Ethereum is just an instance, however it’s true for every other cryptocurrency.

Bitcoin Cannot Be Stopped

So the identical 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 is nobody to put pressure on. The Bitcoin is past censorship.

Each other cryptocurrency out there has been created by someone or some firm and that will always be the purpose of failure. They’re still centralized.

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

Be taught The right way to Use Bitcoin

Everyone should own some Bitcoin. It isn’t without it’s harmful though. When you’re new to Bitcoin then it is best to be taught as a lot much as you’ll be able to before you make investments any money. Owning Bitcoin comes with a variety 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 money until you know what you’re doing!

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