Why There Will Never Be One other 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 profound effect on the world. They little doubt 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. Hundreds of different crypto coins have come along since all trying to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that may’t be replicated. If you don’t know why then let me explain.
In the event you don’t know what Bitcoin is I will just give you a couple of brief 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 is Peer to Peer Cash
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each 4 Years
What Makes Bitcoin Completely different?
So what makes Bitcoin completely different to all the thousands of different 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 the way the worth would improve on account of it’s fixed provide, it started to grow faster.
The Bitcoin blockchain is now spread across hundreds of hundreds of laptop all over 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 however this must be executed my consensus all through the entire Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.
There are literally thousands of other cryptocurrencies available now but for example of what makes Bitcoin totally different I will use Ethereum as example. It’s a one of many 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 example 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 alleged to show you how your money 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 cling 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 identical thing occurs 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 Right here NOW”
The US government “puts some pressure” on Vitalik they usually 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 quantity of funds).
Problem solved. Unfortunately Ethererum’s credibility would be ruined alongside with it’s price.
Ethereum is just an example, 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 Authorities see this and are powerless to stop it.
There is nobody to call. There isn’t anybody to place pressure on. The Bitcoin is beyond censorship.
Each different cryptocurrency out there was created by somebody or some company and that will always be the purpose of failure. They are still centralized.
One other example could be if Vitalik’s household were taken hostage.. Bitcoin is past any of this and that is why it’s the safest investment on the planet.
Be taught Easy methods to Use Bitcoin
Everybody ought to own some Bitcoin. It’s not without it’s dangerous though. For those who’re new to Bitcoin then it’s best to study as much much as you possibly can before you make investments any money. Owning Bitcoin comes with loads of responsabilty. Learn to use Bitcoin safely.
For individuals just coming into the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned money till you know what you’re doing!
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