Why There Will By No Means Be Another Bitcoin

Why There Will By No Means Be Another Bitcoin

Well, it's been a crazy 10 years for Bitcoin. Really 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 no doubt predicted that which is why they chose to disappear from the limelight.

So over a decade later Bitcoin is still alive and stronger than ever. 1000's of different crypto coins have come along since all trying to imitate the king of Crypto. All have failed and will proceed to fail. Bitcoin is one a kind. Something that may't be replicated. For those who do not know why then let me explain.

When you don't know what Bitcoin is I am going to just give you a number of brief key points:

Bitcoin Is An Online Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't Be Solid
Not All Coins Are in Circulation Yet
It Is Absolutely Decentralized Without Anybody Controlling It
It Cannot Be Censored
It is Peer to Peer Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each 4 Years
What Makes Bitcoin Different?
So what makes Bitcoin different to all of the thousands of other coins which have been invented since?

When Bitcoin was first invented it started to spread slowly amongst a small group of people. It grew organically. When individuals started to see the benefits of Bitcoin and the way the value would enhance on account of it's fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of computer everywhere in the world. It has spread beyond the management of any government. It is creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network however this must be completed my consensus all through the whole Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin distinctive and inconceivable to replicate.

There are literally thousands of other cryptocurrencies available now however for example of what makes Bitcoin 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 occurs on Ethereum.

Censorship And Authorities 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 alleged to show you ways your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the usual banking system and transferring this cash to North Korea in USD. The US government say dangle on a minute, we have to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.

Second example. The identical thing happens again however this time Iran use the Ethereum blockchain to send the money to North Korea. The US authorities are see what's happening. A phone call is made.

"Get Vitalik Buterin in Here NOW"

The US government "puts some pressure" on Vitalik and so 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. Sadly Ethererum's credibility could be ruined alongside with it's price.

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

Bitcoin Can't Be Stopped

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

There is no such thing as abody to call. There is no such thing as abody to place pressure on. The Bitcoin is beyond censorship.

Each different cryptocurrency out there was created by somebody or some firm and that will always be the purpose of failure. They're still centralized.

Another example would be if Vitalik's family had been taken hostage.. Bitcoin is past any of this and that is why it's the safest funding on the planet.

Study How one can Use Bitcoin

Everybody ought to own some Bitcoin. It isn't without it's dangerous though. If you're new to Bitcoin then you need to study as much a lot as you can before you invest any money. Owning Bitcoin comes with loads of responsabilty. Discover ways to use Bitcoin safely.

For individuals just getting into the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned money until you know what you are doing!

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