Why There Will By no means Be Another Bitcoin

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Well, it’s been a crazy 10 years for Bitcoin. Truly it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they were, they’ve had a prodiscovered impact on the world. They little question predicted that which is why they chose 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 trying to imitate the king of Crypto. All have failed and will proceed to fail. Bitcoin is one a kind. Something that can’t be replicated. In the event you do not know why then let me explain.

When you don’t know what Bitcoin is I am going to just give you a couple of transient key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Solid

Not All Cash Are in Circulation Yet

It Is Totally Decentralized Without Anybody Controlling It

It Can’t Be Censored

It’s Peer to Peer Cash

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Different?

So what makes Bitcoin totally different to all of the thousands 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 individuals started to see the benefits of Bitcoin and the way the value would increase as a result of it’s fixed provide, it started to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of computer all around the world. It has spread beyond 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 needs to be completed my consensus all through the entire Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin unique and not possible to replicate.

There are millions of different cryptocurrencies available now but as an example of what makes Bitcoin totally different I am going to use Ethereum as example. It’s 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 final say on any development that happens 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 isn’t a great situation but it’s alleged to show you how 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 cling on a minute, we need 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 but 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 Right here NOW”

The US authorities “places some pressure” on Vitalik they usually 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 could be ruined along with it’s price.

Ethereum is just an example, but 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 isn’t anybody to put pressure on. The Bitcoin is beyond censorship.

Every different cryptocurrency out there has been created by somebody or some company and that will always be the point of failure. They are still centralized.

One other instance would be if Vitalik’s household have been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest funding on the planet.

Learn How to Use Bitcoin

Everyone ought to own some Bitcoin. It isn’t without it’s harmful though. Should you’re new to Bitcoin then it is best to learn as a lot much as you possibly can before you make investments any money. Owning Bitcoin comes with a whole lot of responsabilty. Discover ways to use Bitcoin safely.

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