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Why There Will By No Means Be One Other Bitcoin

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 profound impact on the world. They little doubt predicted that which is why they selected to vanish 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 can't be replicated. For those who don't know why then let me explain.

In case you do not know what Bitcoin is I am going to just offer you just a few temporary key points:

Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Forged
Not All Cash Are in Circulation Yet
It Is Absolutely Decentralized Without Anybody Controlling It
It Cannot Be Censored
It's Peer to Peer Money
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every 4 Years
What Makes Bitcoin Totally different?
So what makes Bitcoin 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 folks started to see the benefits of Bitcoin and how the value would enhance because of it's fixed supply, it started to develop faster.

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

Developers can upgrade and improve the Bitcoin network but this must be completed my consensus all through the whole Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin unique and impossible to replicate.

There are literally thousands of different cryptocurrencies available now however as an example of what makes Bitcoin totally different I will use Ethereum as example. It's a one of the 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 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 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 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 however 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 Here NOW"

The US authorities "places some pressure" on Vitalik they usually 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 amount of funds).

Problem solved. Unfortunately Ethererum's credibility can be ruined alongside 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 occurs again. This time Iran use Bitcoin as their payment method. The US Government see this and are powerless to stop it.

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

Every other cryptocurrency out there has been created by somebody or some firm and that will always be the purpose of failure. They're still centralized.

Another example could be if Vitalik's household have been taken hostage.. Bitcoin is beyond any of this and that's the reason it's the safest investment on the planet.

Be taught Methods to Use Bitcoin

Everybody should own some Bitcoin. It's not without it's dangerous though. When you're new to Bitcoin then you should learn as much a lot as you possibly can before you make investments any money. Owning Bitcoin comes with a number of responsabilty. Learn how to use Bitcoin safely.

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