Why There Will By no means Be Another 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 had been, they’ve had a prodiscovered effect on the world. They little question 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 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. In the event you don’t know why then let me explain.

If you do not know what Bitcoin is I’ll just give you just a few temporary key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Solid

Not All Cash Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Can’t Be Censored

It is Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every four Years

What Makes Bitcoin 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 started to spread slowly among a small group of people. It grew organically. When people started to see the benefits of Bitcoin and the way the value would improve on account of it’s fixed supply, it started to grow faster.

The Bitcoin blockchain is now spread across hundreds of 1000’s of laptop everywhere in the world. It has spread past the management of any government. It’s creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network however this needs to be completed my consensus throughout the whole Bitcoin network. No one single particular person can management Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.

There are thousands of other cryptocurrencies available now however for instance of what makes Bitcoin completely different I am going to use Ethereum as example. It is 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 ultimate say on any development that occurs on Ethereum.

Censorship And Government 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 is just not an excellent situation but it’s imagined to show you the way your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the standard banking system and transferring this money to North Korea in USD. The US government 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 identical thing occurs once more however this time Iran use the Ethereum blockchain to send the money to North Korea. The US government are see what’s happening. A phone call is made.

“Get Vitalik Buterin in Right here NOW”

The US authorities “places some pressure” on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has actually been rolled back earlier than 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, however it’s true for each different cryptocurrency.

Bitcoin Can’t Be Stopped

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

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

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

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

Study The right way to Use Bitcoin

Everybody ought to own some Bitcoin. It is not without it’s harmful though. If you happen to’re new to Bitcoin then it is best to study as much much as you can earlier than you invest any money. Owning Bitcoin comes with plenty of responsabilty. Learn to use Bitcoin safely.

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