Why There Will Never Be One other Bitcoin

Well, it’s been a crazy 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 doubt 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. Thousands of different crypto coins have come along 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. Should you do not know why then let me explain.

In case you don’t know what Bitcoin is I’ll just give you a number of temporary key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t 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 Money

Anyone 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 1000’s of other 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 people started to see the benefits of Bitcoin and how the price would increase attributable to it’s fixed provide, it began to develop faster.

The Bitcoin blockchain is now spread across hundreds of hundreds of pc all around the world. It has spread past the management of any government. It’s creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network however this must be finished my consensus throughout the whole Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.

There are literally thousands of different cryptocurrencies available now however 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 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 isn’t an excellent situation however it’s purported to show you ways your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this cash to North Korea in USD. The US authorities say dangle 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 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 Here NOW”

The US government “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 earlier than when a hacker stole a significant amount of funds).

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

Ethereum is just an instance, however it’s true for each other cryptocurrency.

Bitcoin Can’t Be Stopped

So the same thing happens 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 is nobody to put pressure on. The Bitcoin is past censorship.

Every other cryptocurrency out there was created by somebody or some firm and that will always be the point of failure. They’re still centralized.

One other instance would be if Vitalik’s family have been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest funding on the planet.

Be taught The best way to Use Bitcoin

Everybody ought to own some Bitcoin. It’s not without it’s harmful though. If you’re new to Bitcoin then you should study as a lot a lot as you may before you invest any money. Owning Bitcoin comes with numerous responsabilty. Learn how to use Bitcoin safely.

For folks just getting into the world of cryptocurrencies there are lots of hidden dangers. Do not part with your hard earned cash till you know what you are doing!

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