Why There Will Never Be Another Bitcoin

Well, it’s been a loopy 10 years for Bitcoin. Truly 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 effect 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. Hundreds of different crypto coins have come along 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. If you don’t know why then let me explain.

If you happen to don’t know what Bitcoin is I’ll just give you a couple of transient 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 Yet

It Is Totally Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Cash

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each four Years

What Makes Bitcoin Totally different?

So what makes Bitcoin completely different to all of the thousands 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 people started to see the benefits of Bitcoin and the way the price would improve as a consequence of it’s fixed provide, it started to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000’s of laptop all over 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 needs to be carried out my consensus all through the whole Bitcoin network. No one single individual can control Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are millions of different cryptocurrencies available now but as an example of what makes Bitcoin completely different I will 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 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 will not be an excellent situation however it’s imagined to show you how your cash is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the usual banking system and transferring this money to North Korea in USD. The US government say grasp 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 identical thing occurs again but this time Iran use the Ethereum blockchain to send the cash to North Korea. The US authorities are see what is happening. A phone call is made.

„Get Vitalik Buterin in 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 truly been rolled back before when a hacker stole a significant amount of funds).

Problem solved. Sadly Ethererum’s credibility could be ruined alongside with it’s price.

Ethereum is just an instance, however it’s true for each different 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 isn’t abody to call. There isn’t anybody to place pressure on. The Bitcoin is beyond censorship.

Each different cryptocurrency out there was created by somebody or some company and that will always be the purpose of failure. They are still centralized.

Another example would 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.

Be taught The best way to Use Bitcoin

Everybody ought to own some Bitcoin. It isn’t without it’s harmful though. In the event you’re new to Bitcoin then you must study as much much as you possibly can before you invest any money. Owning Bitcoin comes with lots of responsabilty. Learn to use Bitcoin safely.

For folks just getting into the world of cryptocurrencies there are lots of hidden dangers. Don’t part with your hard earned cash until you know what you’re doing!

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