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Why There Will By no means Be One other Bitcoin

 

Well, it's been a loopy 10 years for Bitcoin. Actually it's over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they had been, they've had a prodiscovered 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. Thousands of different crypto coins have come alongside since all making an attempt 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. Should you do not know why then let me explain.

 

 

In case you don't know what Bitcoin is I am going to just offer you a number of brief key points:

 

 

Bitcoin Is An Online Cryptocurrency

 

It Has a Most Supply of 21 Million

 

It Can't Be Forged

 

Not All Cash Are in Circulation Yet

 

It Is Totally Decentralized Without Anybody Controlling It

 

It Can't Be Censored

 

It is Peer to Peer Money

 

Anybody Can Use It

 

Bitcoin Has a Fixed Supply Which Decreases Every 4 Years

 

What Makes Bitcoin Totally different?

 

So what makes Bitcoin totally different to all of the thousands of different 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 people started to see the benefits of Bitcoin and the way the worth would increase on account of it's fixed supply, it started to develop faster.

 

 

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

 

 

Developers can upgrade and improve the Bitcoin network however this needs to be achieved my consensus all through the entire Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

 

 

There are millions of different cryptocurrencies available now however as an example of what makes Bitcoin different I'll use Ethereum as example. It is 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 is just not a very good situation however it's imagined to show you ways your cash 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 dangle on a minute, we have to freeze these transactions and confiscate the money.. Easy. They do that straight away and the problem is over.

 

 

Second example. The same thing occurs once more however this time Iran use the Ethereum blockchain to send the cash to North Korea. The US authorities are see what is happening. A phone call is made.

 

 

"Get Vitalik Buterin in 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 actually been rolled back before when a hacker stole a significant quantity of funds).

 

 

Problem solved. Sadly Ethererum's credibility can be ruined alongside with it's price.

 

 

Ethereum is just an instance, but it's true for each other cryptocurrency.

 

 

Bitcoin Cannot Be Stopped

 

 

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

 

 

There is no such thing as abody to call. There is nobody to put pressure on. The Bitcoin is past censorship.

 

 

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

 

 

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

 

 

Be taught Tips on how to Use Bitcoin

 

 

Everybody ought to own some Bitcoin. It isn't without it's harmful though. In the event you're new to Bitcoin then you must learn as much much as you may earlier than you make investments any money. Owning Bitcoin comes with a whole lot of responsabilty. Learn to use Bitcoin safely.

 

 

For individuals just getting 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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