Why There Will By no means Be Another 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 were, they’ve had a prodiscovered impact 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. Hundreds 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 can’t be replicated. In case you do not know why then let me explain.

Should you don’t know what Bitcoin is I will just provide you with 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 Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every four Years

What Makes Bitcoin Completely different?

So what makes Bitcoin completely different to all the 1000’s 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 individuals started to see the benefits of Bitcoin and how the worth would improve as a result of it’s fixed supply, it started to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000’s of computer everywhere in 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 however this must be performed my consensus all through the whole Bitcoin network. Nobody single particular person can management Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.

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

Censorship And Government 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 just not an excellent situation but it’s imagined to show you how your money 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 cling 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 same thing occurs again however this time Iran use the Ethereum blockchain to send the cash 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 „puts some pressure“ on Vitalik they usually 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. Sadly Ethererum’s credibility could be ruined alongside with it’s price.

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

Bitcoin Cannot 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 is no such thing as abody to call. There is no such thing as abody to place pressure on. The Bitcoin is past censorship.

Each other cryptocurrency out there has been created by someone or some firm and that will always be the point of failure. They are still centralized.

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

Be taught Methods to Use Bitcoin

Everybody should own some Bitcoin. It’s not without it’s dangerous though. Should you’re new to Bitcoin then it is best to learn as a lot much as you may earlier than you make investments any money. Owning Bitcoin comes with loads of responsabilty. Learn how to use Bitcoin safely.

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

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