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Why There Will Never 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 have been, they’ve had a profound impact on the world. They little question predicted that which is why they selected to vanish from the limelight.

So over a decade later Bitcoin is still alive and stronger than ever. 1000’s of different crypto coins have come along since all making an attempt 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 don’t know why then let me explain.

If you happen to don’t know what Bitcoin is I am going to just give you just a few temporary key points:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Forged

Not All Coins Are in Circulation But

It Is Totally Decentralized Without Anybody Controlling It

It Can’t Be Censored

It is Peer to Peer Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each four Years

What Makes Bitcoin Different?

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

When Bitcoin was first invented it started to spread slowly among a small group of people. It grew organically. When individuals started to see the benefits of Bitcoin and how the value would enhance resulting from it’s fixed supply, it began to grow faster.

The Bitcoin blockchain is now spread across hundreds of hundreds of computer all over 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 done my consensus throughout the entire Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.

There are thousands of different cryptocurrencies available now however as an example of what makes Bitcoin completely different I will use Ethereum as example. It is a one of many biggest Alt coins right 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 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 will not be a superb situation however it’s imagined to show you the way your money 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 hang 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 happens once more however this time Iran use the Ethereum blockchain to ship the money 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 truly been rolled back before when a hacker stole a significant quantity of funds).

Problem solved. Unfortunately Ethererum’s credibility would 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 same thing happens again. This time Iran use Bitcoin as their payment method. The US Government see this and are energyless to stop it.

There is nobody to call. There is no such thing as abody to place 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.

Another instance could 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.

Learn The best way to Use Bitcoin

Everybody ought to own some Bitcoin. It isn’t without it’s harmful though. When you’re new to Bitcoin then you need to study as much much as you may before you invest any money. Owning Bitcoin comes with numerous responsabilty. Learn to use Bitcoin safely.

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