Why There Will By no means Be One other Bitcoin

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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 have been, they’ve had a profound effect 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. Thousands of other crypto coins have come alongside 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 may’t be replicated. In the event you do not know why then let me explain.

In the event you do not know what Bitcoin is I am going to just offer you a number of transient key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Solid

Not All Coins Are in Circulation Yet

It Is Fully 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 Each four Years

What Makes Bitcoin Totally different?

So what makes Bitcoin totally 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 people started to see the benefits of Bitcoin and how the worth would improve attributable to it’s fixed supply, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of computer 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 but this has to be executed my consensus throughout the entire Bitcoin network. No one single individual can control Bitcoin. This is what makes Bitcoin unique and impossible to replicate.

There are millions of different cryptocurrencies available now however for example of what makes Bitcoin 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 ultimate say on any development that happens on Ethereum.

Censorship And Authorities Interference

For this instance let’s imagine that Iran is sending billions of dollars to North Korea to fund their new nuclear weapons program. This is not an excellent situation however it’s purported 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 authorities say hang on a minute, we have to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

Second example. The same thing happens again but this time Iran use the Ethereum blockchain to ship the cash 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 actually been rolled back earlier than when a hacker stole a significant quantity of funds).

Problem solved. Unfortunately Ethererum’s credibility could be ruined along 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 energyless to stop it.

There is no such thing as abody to call. There is nobody to put pressure on. The Bitcoin is beyond censorship.

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

Another instance would be if Vitalik’s household were taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest investment on the planet.

Study How you can Use Bitcoin

Everybody should own some Bitcoin. It is not without it’s harmful though. Should you’re new to Bitcoin then you must learn as much a lot as you possibly can earlier than you make investments any money. Owning Bitcoin comes with lots of responsabilty. Discover ways to use Bitcoin safely.

For people just getting into the world of cryptocurrencies there are many hidden dangers. Don’t part with your hard earned money till you know what you’re doing!

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