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 no 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 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 can’t be replicated. If you do not know why then let me explain.

In the event you don’t know what Bitcoin is I’ll just provide you with a few temporary key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Forged

Not All Cash Are in Circulation But

It Is Totally 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 Every 4 Years

What Makes Bitcoin Completely different?

So what makes Bitcoin completely different to all the hundreds 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 individuals started to see the benefits of Bitcoin and how the worth would increase as a consequence of it’s fixed supply, it started to grow faster.

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

Developers can upgrade and improve the Bitcoin network but this must be executed my consensus throughout the entire Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.

There are thousands of other cryptocurrencies available now however as an example of what makes Bitcoin totally different I’ll 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 not a great situation but it’s presupposed to show you ways your cash 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 grasp 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 identical thing happens again but this time Iran use the Ethereum blockchain to send the cash to North Korea. The US authorities are see what’s happening. A phone call is made.

“Get Vitalik Buterin in Right 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 amount of funds).

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

Ethereum is just an example, but it’s true for every other cryptocurrency.

Bitcoin Cannot Be Stopped

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

There isn’t anybody to call. There isn’t anybody to put pressure on. The Bitcoin is past censorship.

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

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

Study The best way to Use Bitcoin

Everyone should own some Bitcoin. It is not without it’s dangerous though. In case you’re new to Bitcoin then you should learn as a lot much as you may before you make investments any money. Owning Bitcoin comes with numerous responsabilty. Learn how to use Bitcoin safely.

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