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Why There Will By no means 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 were, they've had a prodiscovered effect on the world. They little question 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. 1000's of other crypto coins have come along since all attempting 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 case you do not know what Bitcoin is I will just provide you with a number of brief key factors:

 

 

Bitcoin Is An On-line Cryptocurrency

 

It Has a Maximum Supply of 21 Million

 

It Cannot Be Solid

 

Not All Cash 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 Completely different?

 

So what makes Bitcoin different to all the hundreds 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 individuals started to see the benefits of Bitcoin and the way the price would increase attributable to it's fixed provide, it started to develop faster.

 

 

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

 

 

Builders can upgrade and improve the Bitcoin network but this needs to be done my consensus all through the whole Bitcoin network. No one single person can management Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.

 

 

There are thousands of different cryptocurrencies available now but for example of what makes Bitcoin totally different I will use Ethereum as example. It is 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 Authorities 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 just isn't a great situation but it's speculated to show you how your cash 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 authorities say hang 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 same thing happens again but this time Iran use the Ethereum blockchain to send the cash to North Korea. The US authorities are see what's happening. A phone call is made.

 

 

"Get Vitalik Buterin in Right here NOW"

 

 

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

 

 

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

 

 

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

 

 

Bitcoin Can't Be Stopped

 

 

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

 

 

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

 

 

Every different cryptocurrency out there has been created by somebody or some firm and that will always be the point of failure. They are still centralized.

 

 

Another instance would be if Vitalik's household were taken hostage.. Bitcoin is past any of this and that's the reason it's the safest investment on the planet.

 

 

Learn Methods to Use Bitcoin

 

 

Everybody should own some Bitcoin. It is not without it's dangerous though. If you're new to Bitcoin then you need to be taught as a lot much as you may earlier than you invest any money. Owning Bitcoin comes with a lot of responsabilty. Learn to use Bitcoin safely.

 

 

For people just coming into the world of cryptocurrencies there are lots of hidden dangers. Don't part with your hard earned money until you know what you are doing!

 

 

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