Why There Will Never Be Another Bitcoin

Well, it’s been a loopy 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 profound effect on the world. They no doubt predicted that which is why they selected 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 alongside since all trying to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that may’t be replicated. In the event you do not know why then let me explain.

When you do not know what Bitcoin is I will just give you a couple of brief key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Solid

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 Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Totally 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 among a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and the way the worth would improve as a result of it’s fixed provide, it started to grow faster.

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

Developers can upgrade and improve the Bitcoin network however this has to be completed my consensus throughout the entire Bitcoin network. No one single particular person can management Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are literally thousands of different cryptocurrencies available now but as an example of what makes Bitcoin completely different I’ll use Ethereum as example. It is a one of the 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 final 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 shouldn’t be an excellent situation however it’s purported to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this money to North Korea in USD. The US authorities say grasp on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

Second example. The identical thing occurs again however this time Iran use the Ethereum blockchain to send the money to North Korea. The US government are see what is happening. A phone call is made.

“Get Vitalik Buterin in Here NOW”

The US government “places some pressure” on Vitalik and so they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has really been rolled back earlier than when a hacker stole a significant amount of funds).

Problem solved. Sadly Ethererum’s credibility can 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 powerless to stop it.

There isn’t abody to call. There is nobody to place pressure on. The Bitcoin is past 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 example can be if Vitalik’s household had been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest funding on the planet.

Be taught Find out how to Use Bitcoin

Everybody ought to own some Bitcoin. It is not without it’s dangerous though. In the event you’re new to Bitcoin then it’s best to study as much a lot as you’ll be able to earlier than you make investments any money. Owning Bitcoin comes with lots of responsabilty. Learn to use Bitcoin safely.

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