Why There Will By No Means Be Another Bitcoin

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 were, they've had a prodiscovered effect 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. Thousands 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 can't be replicated. In the event you don't know why then let me explain.

If you happen to do not know what Bitcoin is I am going to just give you just a few temporary key factors:

Bitcoin Is An Online Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't Be Solid
Not All Cash Are in Circulation But
It Is Totally Decentralized Without Anybody Controlling It
It Can't Be Censored
It is Peer to Peer Money
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each 4 Years
What Makes Bitcoin Totally 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 began to spread slowly among a small group of people. It grew organically. When individuals started to see the benefits of Bitcoin and the way the worth would improve as a result of it's fixed supply, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands 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.

Developers can upgrade and improve the Bitcoin network but this needs to be completed my consensus all through the entire Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are thousands of different cryptocurrencies available now but as an example of what makes Bitcoin different I will 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 ultimate say on any development that happens 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 shouldn't be a good situation but it's supposed to show you how your money is safer in Bitcoin!

Anyway.. first example. Iran is using the usual banking system and transferring this cash 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 that 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 cash to North Korea. The US authorities are see what is happening. A phone call is made.

"Get Vitalik Buterin in Here NOW"

The US authorities "places some pressure" on Vitalik and they make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has really been rolled back earlier than when a hacker stole a significant quantity of funds).

Problem solved. Unfortunately Ethererum's credibility would be ruined along with it's price.

Ethereum is just an example, however it's true for every different cryptocurrency.

Bitcoin Cannot Be Stopped

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

There isn't anybody to call. There isn't abody to place pressure on. The Bitcoin is past censorship.

Every other 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 had been taken hostage.. Bitcoin is past any of this and that's the reason it's the safest investment on the planet.

Learn Find out how to Use Bitcoin

Everybody should own some Bitcoin. It is not without it's harmful though. When you're new to Bitcoin then it's best to be taught as much a lot as you possibly can earlier than you make investments any money. Owning Bitcoin comes with a whole lot of responsabilty. Discover ways to use Bitcoin safely.

For people just entering the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned cash until you know what you're doing!

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