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Why There Will Never Be Another 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 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. 1000's of other crypto coins have come alongside 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 may't be replicated. If you don't know why then let me explain.
If you happen to don't know what Bitcoin is I am going to just provide you with a couple of brief key points:
Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't Be Cast
Not All Coins Are in Circulation Yet
It Is Fully Decentralized Without Anybody Controlling It
It Can't Be Censored
It's Peer to Peer Money
Anybody 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 hundreds of other 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 people started to see the benefits of Bitcoin and the way the price would improve because of it's fixed provide, it began to develop faster.
The Bitcoin blockchain is now spread throughout hundreds of hundreds of computer everywhere in the world. It has spread beyond the control of any government. It is creator has vanished and now it runs autonomously.
Builders can upgrade and improve the Bitcoin network but this has to be completed my consensus throughout the whole Bitcoin network. Nobody single person can control Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.
There are thousands of different cryptocurrencies available now but for instance of what makes Bitcoin totally different I'll 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 very good situation but it's speculated to show you the way your cash 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 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 occurs again however this time Iran use the Ethereum blockchain to send the money to North Korea. The US government are see what is 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 earlier than 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 example, but it's true for every other cryptocurrency.
Bitcoin Can't Be Stopped
So the identical 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 past censorship.
Each other cryptocurrency out there has been created by someone or some firm and that will always be the point of failure. They are still centralized.
One other example would be if Vitalik's household were taken hostage.. Bitcoin is beyond any of this and that's the reason it's the safest funding on the planet.
Be taught The best way to Use Bitcoin
Everyone should own some Bitcoin. It isn't without it's harmful though. Should you're new to Bitcoin then you need to be taught as much much as you can before you make investments any money. Owning Bitcoin comes with lots of responsabilty. Discover ways to use Bitcoin safely.
For individuals just entering the world of cryptocurrencies there are lots of hidden dangers. Do not part with your hard earned money until you know what you're doing!
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