Why There Will By no means Be Another Bitcoin

Well, it’s been a crazy 10 years for Bitcoin. Actually it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they had been, they’ve had a prodiscovered impact 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. Hundreds of other crypto coins have come along since all making an attempt 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 do not know why then let me explain.

In the event you do not know what Bitcoin is I am going to just give you just a few transient key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Cast

Not All Cash Are in Circulation Yet

It Is Fully Decentralized Without Anybody Controlling It

It Can’t Be Censored

It is Peer to Peer Cash

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every 4 Years

What Makes Bitcoin Different?

So what makes Bitcoin totally different to all the thousands of different 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 folks started to see the benefits of Bitcoin and the way the value would enhance as a result of it’s fixed supply, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of laptop 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 however this needs to be carried out my consensus all through the entire Bitcoin network. Nobody single particular person can management Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.

There are literally thousands of other cryptocurrencies available now however as an example of what makes Bitcoin different I will 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 ultimate 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 will not be a superb situation however it’s supposed to show you the way your money 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 authorities say grasp 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 occurs again but this time Iran use the Ethereum blockchain to ship the money to North Korea. The US government are see what’s happening. A phone call is made.

“Get Vitalik Buterin in Right 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 before when a hacker stole a significant quantity of funds).

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

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

Bitcoin Cannot Be Stopped

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

There isn’t abody to call. There is no such thing as abody to put pressure on. The Bitcoin is past censorship.

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

Another instance can be if Vitalik’s household had been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest investment on the planet.

Be taught Methods to Use Bitcoin

Everyone should own some Bitcoin. It’s not without it’s dangerous though. If you’re new to Bitcoin then it’s best to learn as a lot much as you possibly can before you make investments any money. Owning Bitcoin comes with a number of responsabilty. Learn to use Bitcoin safely.

For people just entering 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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