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 had 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 different crypto coins have come alongside since all trying 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. If you do not know why then let me explain.

Should you don’t know what Bitcoin is I’ll just offer you a couple of brief key points:

Bitcoin Is An Online Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Solid

Not All Cash Are in Circulation Yet

It Is Fully Decentralized Without Anybody Controlling It

It Can’t Be Censored

It’s Peer to Peer Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every four Years

What Makes Bitcoin Totally different?

So what makes Bitcoin different to all of the 1000’s 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 individuals started to see the benefits of Bitcoin and how the price would improve as a result of it’s fixed provide, it started to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of laptop 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 has to be carried out my consensus all through the whole Bitcoin network. No one single individual can control Bitcoin. This is what makes Bitcoin unique and impossible to replicate.

There are thousands of other cryptocurrencies available now however for instance of what makes Bitcoin completely different I am going to 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 occurs on Ethereum.

Censorship And Government 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 a great situation but it’s supposed to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard 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 that straight away and the problem is over.

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

“Get Vitalik Buterin in Right here NOW”

The US government “places some pressure” on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has actually been rolled back earlier than 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 example, however it’s true for every different cryptocurrency.

Bitcoin Cannot Be Stopped

So the identical 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 no such thing as abody to call. There is nobody to put pressure on. The Bitcoin is beyond censorship.

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

One other instance would 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.

Learn How to Use Bitcoin

Everybody ought to 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 may before you make investments any money. Owning Bitcoin comes with numerous responsabilty. Learn how to use Bitcoin safely.

For people just coming into the world of cryptocurrencies there are lots of hidden dangers. Don’t part with your hard earned money until you know what you’re doing!

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