Why There Will Never Be Another Bitcoin

Well, it’s been a crazy 10 years for Bitcoin. Really 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 impact on the world. They little doubt predicted that which is why they chose to disappear 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 attempting 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. In the event you don’t know why then let me explain.

If you happen to don’t know what Bitcoin is I’ll just provide you with just a few temporary key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Cast

Not All Coins Are in Circulation But

It Is Absolutely Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Totally different?

So what makes Bitcoin completely different to all the thousands 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 individuals started to see the benefits of Bitcoin and how the worth would increase due to it’s fixed supply, it began to develop faster.

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

Developers can upgrade and improve the Bitcoin network however this has to be achieved my consensus throughout the entire Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.

There are thousands of other cryptocurrencies available now however for instance of what makes Bitcoin totally different I will use Ethereum as example. It’s a one of many 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 will not be a good situation however it’s supposed 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 hang 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 identical thing occurs once more but this time Iran use the Ethereum blockchain to ship 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 so 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 along with it’s price.

Ethereum is just an example, but it’s true for every other cryptocurrency.

Bitcoin Can’t Be Stopped

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

There isn’t anybody to call. There isn’t anybody to place pressure on. The Bitcoin is past censorship.

Each other cryptocurrency out there was created by somebody or some firm and that will always be the purpose of failure. They’re still centralized.

One other example could be if Vitalik’s household had been taken hostage.. Bitcoin is past any of this and that is why it’s the safest investment on the planet.

Study How to Use Bitcoin

Everyone should own some Bitcoin. It’s not without it’s harmful though. When you’re new to Bitcoin then you must be taught as a lot a lot as you can before you invest any money. Owning Bitcoin comes with loads of responsabilty. Learn how to use Bitcoin safely.

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

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