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. Actually it's over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they were, they've had a prodiscovered effect on the world. They little 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 other crypto coins have come along 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 don't know why then let me explain.

If you don't know what Bitcoin is I'll just give you a few transient key points:

Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Cannot Be Cast
Not All Cash Are in Circulation But
It Is Fully Decentralized Without Anybody Controlling It
It Cannot Be Censored
It is Peer to Peer Money
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each 4 Years
What Makes Bitcoin Different?
So what makes Bitcoin 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 people started to see the benefits of Bitcoin and the way the price would enhance on account of it's fixed supply, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of computer 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 needs to be accomplished my consensus throughout the entire Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin distinctive and inconceivable to replicate.

There are millions of different cryptocurrencies available now but for example of what makes Bitcoin different I will 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 supposed to show you the way your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the standard banking system and transferring this cash 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 once more however this time Iran use the Ethereum blockchain to ship the cash 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 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 would be ruined alongside with it's price.

Ethereum is just an example, however it's true for every other cryptocurrency.

Bitcoin Cannot Be Stopped

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

There isn't abody to call. There isn't anybody to put pressure on. The Bitcoin is past censorship.

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

One other instance could be if Vitalik's family 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 ought to own some Bitcoin. It's not without it's dangerous though. In case you're new to Bitcoin then you need to be taught as a lot a lot as you may before you invest any money. Owning Bitcoin comes with a variety of responsabilty. Learn how to use Bitcoin safely.

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