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Why There Will Never Be Another 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 were, they've had a profound 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. Hundreds of different crypto coins have come along since all trying 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. Should you do not know why then let me explain.
In the event you do not know what Bitcoin is I will just offer you a few temporary key points:
Bitcoin Is An Online Cryptocurrency
It Has a Most Supply of 21 Million
It Can't Be Forged
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 4 Years
What Makes Bitcoin Different?
So what makes Bitcoin totally different to all the 1000's 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 folks started to see the benefits of Bitcoin and the way the worth would increase on account of it's fixed supply, it started to grow faster.
The Bitcoin blockchain is now spread throughout hundreds of thousands 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 needs to be accomplished my consensus all through the whole Bitcoin network. No one single individual can management Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.
There are literally thousands of different cryptocurrencies available now however for instance of what makes Bitcoin totally different I'll use Ethereum as example. It's 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 occurs on Ethereum.
Censorship And Authorities Interference
For this example let's imagine that Iran is sending billions of dollars to North Korea to fund their new nuclear weapons program. This shouldn't be a very good situation however it's supposed to show you ways 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 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 happens once more but this time Iran use the Ethereum blockchain to send the money to North Korea. The US authorities are see what is happening. A phone call is made.
"Get Vitalik Buterin in Right 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 actually been rolled back earlier than when a hacker stole a significant amount of funds).
Problem solved. Unfortunately Ethererum's credibility can be ruined alongside with it's price.
Ethereum is just an instance, however it's true for every other cryptocurrency.
Bitcoin Can't 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 is nobody to place pressure on. The Bitcoin is beyond censorship.
Every different cryptocurrency out there was created by somebody or some firm and that will always be the purpose of failure. They are still centralized.
One other example can be if Vitalik's household had been taken hostage.. Bitcoin is beyond any of this and that is why it's the safest funding on the planet.
Be taught Find out how to Use Bitcoin
Everybody ought to own some Bitcoin. It isn't without it's dangerous though. For those who're new to Bitcoin then it is best to learn as a lot a lot as you possibly can before you make investments any money. Owning Bitcoin comes with loads of responsabilty. Discover ways to use Bitcoin safely.
For folks just entering the world of cryptocurrencies there are many hidden dangers. Don't part with your hard earned money till you know what you are doing!
If you have any sort of questions relating to where and how you can use read more, you could contact us at our internet site.
Website: https://cryptosuperstar.co/
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