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Why There Will By no means Be One other 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 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 different crypto coins have come alongside since all attempting to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that may't be replicated. In case you do not know why then let me explain.
Should you don't know what Bitcoin is I'll just provide you with a couple of transient key factors:
Bitcoin Is An Online Cryptocurrency
It Has a Maximum Supply of 21 Million
It Cannot Be Cast
Not All Coins Are in Circulation Yet
It Is Absolutely Decentralized Without Anybody Controlling It
It Can't Be Censored
It's Peer to Peer Cash
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each 4 Years
What Makes Bitcoin Completely different?
So what makes Bitcoin 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 people started to see the benefits of Bitcoin and how the value would increase due to it's fixed provide, it began to grow faster.
The Bitcoin blockchain is now spread throughout 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.
Developers can upgrade and improve the Bitcoin network but this needs to be executed my consensus throughout the entire Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.
There are millions of different cryptocurrencies available now but for example of what makes Bitcoin completely 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 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 great situation however it's alleged to show you the way your money is safer in Bitcoin!
Anyway.. first example. Iran is utilizing the standard banking system and transferring this cash to North Korea in USD. The US government say grasp on a minute, we have to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.
Second example. The same thing happens again 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 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 really been rolled back earlier than when a hacker stole a significant amount of funds).
Problem solved. Sadly Ethererum's credibility can be ruined along with it's price.
Ethereum is just an example, however it's true for every other cryptocurrency.
Bitcoin Cannot Be Stopped
So the same 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 isn't abody to place pressure on. The Bitcoin is beyond censorship.
Each other cryptocurrency out there has been created by somebody or some company and that will always be the point of failure. They're still centralized.
One other example can be if Vitalik's household had been taken hostage.. Bitcoin is past any of this and that is why it's the safest funding on the planet.
Learn Tips on how to Use Bitcoin
Everyone should own some Bitcoin. It is not without it's dangerous though. Should you're new to Bitcoin then you need to be taught as much a lot as you can before you invest any money. Owning Bitcoin comes with a lot of responsabilty. Discover ways to use Bitcoin safely.
For people just entering the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned cash till you know what you're doing!
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