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Why There Will Never Be Another 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 have been, they've had a prodiscovered effect on the world. They no doubt predicted that which is why they chose to vanish from the limelight.

 

 

So over a decade later Bitcoin is still alive and stronger than ever. Thousands of different 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 can't be replicated. In the event you do not 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 few transient key factors:

 

 

Bitcoin Is An On-line Cryptocurrency

 

It Has a Maximum Supply of 21 Million

 

It Cannot Be Forged

 

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 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 1000's of different coins which have been invented since?

 

 

When Bitcoin was first invented it began to spread slowly among a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and how the price would improve because of it's fixed provide, it started to develop faster.

 

 

The Bitcoin blockchain is now spread throughout hundreds of thousands of laptop all around the world. It has spread past the management of any government. It is creator has vanished and now it runs autonomously.

 

 

Builders can upgrade and improve the Bitcoin network however this needs to be carried out my consensus throughout the entire Bitcoin network. Nobody single particular person can management Bitcoin. This is what makes Bitcoin unique and impossible to replicate.

 

 

There are literally thousands of different cryptocurrencies available now but for example of what makes Bitcoin completely different I will use Ethereum as example. It's a one of many 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 will not be an excellent situation however it's presupposed to show you ways 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 cling on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

 

 

Second example. The same thing happens again but this time Iran use the Ethereum blockchain to ship the money to North Korea. The US government are see what is happening. A phone call is made.

 

 

"Get Vitalik Buterin in Right here NOW"

 

 

The US government "puts 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. Sadly Ethererum's credibility can be ruined along with it's price.

 

 

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

 

 

Bitcoin Cannot Be Stopped

 

 

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

 

 

There is nobody to call. There isn't anybody to place pressure on. The Bitcoin is past censorship.

 

 

Every other cryptocurrency out there was created by someone or some company and that will always be the point of failure. They're still centralized.

 

 

One other instance can be if Vitalik's family had been taken hostage.. Bitcoin is beyond any of this and that is why it's the safest funding on the planet.

 

 

Learn Learn how to Use Bitcoin

 

 

Everyone should own some Bitcoin. It isn't without it's dangerous though. If you're new to Bitcoin then it is best to study as a lot a lot as you'll be able to earlier than you invest any money. Owning Bitcoin comes with loads of responsabilty. Learn how to use Bitcoin safely.

 

 

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

 

 

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