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Why There Will By no means Be Another Bitcoin

 

Well, it's been a loopy 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. Hundreds 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 can't be replicated. For those who don't know why then let me explain.

 

 

When you do not know what Bitcoin is I will just provide you with a number of 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 Totally Decentralized Without Anybody Controlling It

 

It Can't Be Censored

 

It is Peer to Peer Money

 

Anyone Can Use It

 

Bitcoin Has a Fixed Supply Which Decreases Each four Years

 

What Makes Bitcoin Completely different?

 

So what makes Bitcoin totally different to all of the hundreds 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 individuals started to see the benefits of Bitcoin and how the value would improve attributable to it's fixed supply, it began to grow faster.

 

 

The Bitcoin blockchain is now spread throughout hundreds of thousands of laptop all around the world. It has spread beyond the management of any government. It is creator has vanished and now it runs autonomously.

 

 

Developers can upgrade and improve the Bitcoin network however this must be carried out my consensus throughout the entire Bitcoin network. Nobody 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 but for instance of what makes Bitcoin totally different I'll use Ethereum as example. It's a one of the 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 happens 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 isn't an excellent situation but it's speculated to show you the way your cash is safer in Bitcoin!

 

 

Anyway.. first example. Iran is using the usual banking system and transferring this cash 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 try this straight away and the problem is over.

 

 

Second example. The identical thing happens again but this time Iran use the Ethereum blockchain to send the money to North Korea. The US government 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 they usually 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. Sadly Ethererum's credibility could be ruined along with it's price.

 

 

Ethereum is just an instance, however it's true for each other cryptocurrency.

 

 

Bitcoin Can't Be Stopped

 

 

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

 

 

There is nobody to call. There is no such thing as abody to place pressure on. The Bitcoin is beyond censorship.

 

 

Each different cryptocurrency out there has been created by somebody or some company and that will always be the point of failure. They're still centralized.

 

 

Another instance could be if Vitalik's household have been taken hostage.. Bitcoin is past any of this and that's the reason it's the safest investment on the planet.

 

 

Study Find out how to Use Bitcoin

 

 

Everyone should own some Bitcoin. It isn't without it's harmful though. For those who're new to Bitcoin then it is best to learn as a lot much as you'll be able to before you invest any money. Owning Bitcoin comes with a variety of responsabilty. Discover ways to use Bitcoin safely.

 

 

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

 

 

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