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 have been, they’ve had a prodiscovered impact on the world. They little doubt 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. Hundreds of other 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. In the event you don’t know why then let me explain.

In the event you do not know what Bitcoin is I will just give you just a few transient key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Solid

Not All Coins Are in Circulation But

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Completely 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 people started to see the benefits of Bitcoin and the way the price would improve resulting from it’s fixed supply, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of pc all over the world. It has spread beyond the management of any government. It is creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network however this must be finished my consensus throughout the whole Bitcoin network. No one single particular person can management Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are literally thousands of other cryptocurrencies available now however for instance of what makes Bitcoin different I’ll use Ethereum as example. It’s 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 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 just isn’t a very good situation however it’s alleged to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the usual banking system and transferring this cash to North Korea in USD. The US government say dangle 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 same thing occurs again but this time Iran use the Ethereum blockchain to ship 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 government “places some pressure” on Vitalik they usually 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 amount of funds).

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

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

Bitcoin Can’t Be Stopped

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

There isn’t abody to call. There isn’t abody to place pressure on. The Bitcoin is beyond censorship.

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

One other instance can be if Vitalik’s household were taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest investment on the planet.

Study Tips on how to Use Bitcoin

Everyone should own some Bitcoin. It isn’t without it’s harmful though. Should you’re new to Bitcoin then it’s best to study as a lot a lot as you possibly can earlier than you invest any money. Owning Bitcoin comes with loads of responsabilty. Discover ways to use Bitcoin safely.

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