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Why There Will Never Be One Other Bitcoin  

Why There Will Never Be One Other Bitcoin

Well, it's been a loopy 10 years for Bitcoin. Truly 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 question 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. 1000's of other crypto coins have come alongside since all attempting to imitate the king of Crypto. All have failed and will proceed to fail. Bitcoin is one a kind. Something that may't be replicated. In the event you do not know why then let me explain.

For those who do not know what Bitcoin is I will just offer you just a few temporary key factors:

Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Cannot Be Solid
Not All Cash Are in Circulation But
It Is Totally Decentralized Without Anybody Controlling It
It Cannot Be Censored
It's Peer to Peer Money
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every 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 started to spread slowly amongst a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and how the price would enhance due to it's fixed provide, it started to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000's of computer everywhere in 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 but this needs to be achieved my consensus throughout the entire Bitcoin network. No one single individual can control Bitcoin. This is what makes Bitcoin unique and not possible to replicate.

There are literally thousands of other cryptocurrencies available now however for instance of what makes Bitcoin completely different I'll use Ethereum as example. It is a one of the 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 final 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 is not a great situation but it's speculated to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the usual banking system and transferring this money to North Korea in USD. The US authorities say hold 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 happens again however this time Iran use the Ethereum blockchain to ship the cash 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 government "places some pressure" on Vitalik they usually 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 amount of funds).

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

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

Bitcoin Can't Be Stopped

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

There isn't abody to call. There is nobody to put pressure on. The Bitcoin is past censorship.

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

Another example could be if Vitalik's household have been taken hostage.. Bitcoin is beyond any of this and that is why it's the safest funding on the planet.

Study How to Use Bitcoin

Everybody should own some Bitcoin. It isn't without it's harmful though. Should you're new to Bitcoin then you must be taught as much a lot as you can before you invest any money. Owning Bitcoin comes with quite a lot of responsabilty. Learn how to use Bitcoin safely.

For people just getting into the world of cryptocurrencies there are lots of hidden dangers. Don't part with your hard earned cash till you know what you are doing!

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