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 were, they’ve had a profound 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. Hundreds of different crypto coins have come alongside since all attempting 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. In case you do not know why then let me explain.

For those who do not know what Bitcoin is I’ll just provide you with a number of brief key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Forged

Not All Coins Are in Circulation But

It Is Totally Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Different?

So what makes Bitcoin totally 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 individuals started to see the benefits of Bitcoin and how the value would improve due to it’s fixed supply, it began to grow faster.

The Bitcoin blockchain is now spread across hundreds of thousands of computer all over 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 needs to be finished my consensus all through the whole Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.

There are thousands of other cryptocurrencies available now however for instance of what makes Bitcoin 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 final say on any development that happens on Ethereum.

Censorship And Authorities 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 however it’s speculated to show you the way 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 authorities say cling 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 identical thing occurs again 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 and so they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has truly been rolled back earlier than when a hacker stole a significant quantity of funds).

Problem solved. Unfortunately 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 isn’t abody to call. There is no such thing as abody to place pressure on. The Bitcoin is past censorship.

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

One other example would be if Vitalik’s household have been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest funding on the planet.

Study Methods to Use Bitcoin

Everyone should own some Bitcoin. It is not without it’s harmful though. If you’re new to Bitcoin then you need to learn as a lot a lot 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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