Why There Will Never Be Another Bitcoin

Well, it’s been a loopy 10 years for Bitcoin. Actually 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 effect on the world. They little question predicted that which is why they selected to disappear 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. If you happen to don’t know why then let me explain.

For those who do not know what Bitcoin is I’ll just provide you with just a few brief key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Cast

Not All Coins Are in Circulation Yet

It Is Absolutely 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 Different?

So what makes Bitcoin totally different to all of the thousands of different 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 how the value would improve resulting from it’s fixed provide, it started to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000’s 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 performed my consensus all through the entire Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.

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

Anyway.. first example. Iran is using the standard banking system and transferring this cash to North Korea in USD. The US government say hang 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 identical thing happens once more however 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 and so 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 quantity of funds).

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

Ethereum is just an example, but it’s true for each other cryptocurrency.

Bitcoin Cannot Be Stopped

So the identical thing occurs again. This time Iran use Bitcoin as their payment method. The US Government see this and are powerless to stop it.

There is no such thing as abody to call. There is nobody to place pressure on. The Bitcoin is beyond censorship.

Every other cryptocurrency out there was created by someone or some company and that will always be the purpose of failure. They are still centralized.

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

Be taught Methods to Use Bitcoin

Everyone ought to own some Bitcoin. It’s not without it’s dangerous though. If you’re new to Bitcoin then you must study as a lot a lot as you possibly can earlier than you invest any money. Owning Bitcoin comes with quite a lot of responsabilty. Discover ways to use Bitcoin safely.

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

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