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Why There Will By no means Be One other Bitcoin
Well, it's been a crazy 10 years for Bitcoin. Truly it's over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they have been, they've had a prodiscovered effect 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. Hundreds 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.
When you do not know what Bitcoin is I will just provide you with a number of temporary key factors:
Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Solid
Not All Cash Are in Circulation But
It Is Fully 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 Every 4 Years
What Makes Bitcoin Completely different?
So what makes Bitcoin completely different to all of the hundreds of other 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 folks started to see the benefits of Bitcoin and how the value would increase resulting from it's fixed supply, it started to grow faster.
The Bitcoin blockchain is now spread throughout hundreds of hundreds of pc all around 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 however this must be accomplished my consensus throughout the entire Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.
There are literally thousands of different cryptocurrencies available now but as an example of what makes Bitcoin completely different I am going to use Ethereum as example. It is 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 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 is just not a superb situation however it's imagined to show you the way your money is safer in Bitcoin!
Anyway.. first example. Iran is using the standard banking system and transferring this money to North Korea in USD. The US authorities 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 same thing happens once more 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 "places 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. Unfortunately Ethererum's credibility could be ruined along with it's price.
Ethereum is just an instance, but it's true for each different 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 is nobody to place pressure on. The Bitcoin is beyond censorship.
Every other cryptocurrency out there has been created by somebody or some company and that will always be the point of failure. They are still centralized.
Another instance would be if Vitalik's household have been taken hostage.. Bitcoin is past any of this and that is why it's the safest investment on the planet.
Learn How one can Use Bitcoin
Everyone ought to own some Bitcoin. It isn't without it's dangerous though. For those who're new to Bitcoin then you need to learn as a lot a lot as you can earlier than you invest any money. Owning Bitcoin comes with lots 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 cash until you know what you are doing!
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