Why There Will By no means 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 had been, they’ve had a profound effect on the world. They little 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. 1000’s of different 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 may’t be replicated. In the event you don’t know why then let me explain.

In case you do not know what Bitcoin is I will just offer you a couple of brief key points:

Bitcoin Is An Online Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Forged
Not All Cash Are in Circulation But
It Is Fully Decentralized Without Anybody Controlling It
It Can’t Be Censored
It is Peer to Peer Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each four Years
What Makes Bitcoin Completely different?
So what makes Bitcoin completely different to all of the hundreds of different coins which have been invented since?

When Bitcoin was first invented it started to spread slowly amongst a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and the way the worth would enhance on account of it’s fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands 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.

Developers can upgrade and improve the Bitcoin network but this needs to be executed my consensus throughout the entire Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.

There are millions of different cryptocurrencies available now but for example of what makes Bitcoin totally 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 final 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 will not be a great situation however it’s speculated to show you ways 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 hold 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 once more however this time Iran use the Ethereum blockchain to send 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. Sadly Ethererum’s credibility would 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 Government see this and are powerless to stop it.

There isn’t anybody to call. There isn’t anybody to place pressure on. The Bitcoin is beyond censorship.

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

One other example can be if Vitalik’s household were taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest funding on the planet.

Learn How you can Use Bitcoin

Everybody should own some Bitcoin. It isn’t without it’s harmful though. If you happen to’re new to Bitcoin then you must study as a lot much as you possibly can earlier than you invest any money. Owning Bitcoin comes with a variety of responsabilty. Discover ways to use Bitcoin safely.

For folks just coming into the world of cryptocurrencies there are lots of hidden dangers. Do not part with your hard earned money until you know what you’re doing!

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