Why There Will Never Be One other 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 have been, they’ve had a profound impact on the world. They no doubt 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 along since all attempting 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 case you don’t know why then let me explain.

In the event you do not know what Bitcoin is I will just offer you a few transient key points:

Bitcoin Is An Online Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Cast

Not All Coins Are in Circulation Yet

It Is Totally Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Completely 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 began to spread slowly amongst a small group of people. It grew organically. When individuals started to see the benefits of Bitcoin and the way the price would increase attributable to it’s fixed supply, it started to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000’s of computer all over the world. It has spread beyond the control of any government. It is 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 entire Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are literally thousands of other cryptocurrencies available now however for instance of what makes Bitcoin different I’ll use Ethereum as example. It’s 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 instance let’s imagine that Iran is sending billions of dollars to North Korea to fund their new nuclear weapons program. This will not be a good situation however it’s alleged to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the usual banking system and transferring this money to North Korea in USD. The US government say grasp on a minute, we have to freeze these transactions and confiscate the money.. Easy. They do that 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 money to North Korea. The US authorities are see what is happening. A phone call is made.

“Get Vitalik Buterin in Right here NOW”

The US government “puts 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 amount of funds).

Problem solved. Unfortunately Ethererum’s credibility can be ruined alongside with it’s price.

Ethereum is just an instance, but it’s true for each different 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 is no such thing as abody to call. There is no such thing as abody to place pressure on. The Bitcoin is beyond censorship.

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

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

Be taught The right way to Use Bitcoin

Everybody ought to own some Bitcoin. It’s not without it’s harmful though. In case you’re new to Bitcoin then you must learn as a lot a lot as you can before you make investments any money. Owning Bitcoin comes with a lot of responsabilty. Learn how to use Bitcoin safely.

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

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