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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 loopy 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 no 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. Hundreds of other crypto coins have come alongside since all trying 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 case you do not know why then let me explain.

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

Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't Be Cast
Not All Cash Are in Circulation Yet
It Is Fully Decentralized Without Anybody Controlling It
It Cannot Be Censored
It's Peer to Peer Cash
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every four Years
What Makes Bitcoin Totally different?
So what makes Bitcoin totally different to all of the 1000's of other 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 people started to see the benefits of Bitcoin and the way the price would improve as a consequence of it's fixed supply, it began to develop faster.

The Bitcoin blockchain is now spread across hundreds of 1000's of laptop everywhere in the world. It has spread past the management of any government. It's creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network but this must be done my consensus throughout the whole Bitcoin network. Nobody single individual can management Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are thousands of different cryptocurrencies available now however for instance of what makes Bitcoin 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 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 good situation but it's presupposed to show you how your money 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 authorities say cling on a minute, we need 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 money to North Korea. The US government are see what's happening. A phone call is made.

"Get Vitalik Buterin in Right here NOW"

The US authorities "puts some pressure" on Vitalik and they make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has truly been rolled back earlier than when a hacker stole a significant amount of funds).

Problem solved. Unfortunately Ethererum's credibility could be ruined alongside with it's price.

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

Bitcoin Can't Be Stopped

So the identical thing happens again. This time Iran use Bitcoin as their payment method. The US Authorities 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 beyond censorship.

Every different cryptocurrency out there has been created by someone or some firm 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's the reason it's the safest funding on the planet.

Study The way to Use Bitcoin

Everyone ought to own some Bitcoin. It's not without it's dangerous though. For those who're new to Bitcoin then you must be taught as much much as you possibly can before you make investments any money. Owning Bitcoin comes with a number of responsabilty. Learn how to use Bitcoin safely.

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