Why There Will Never 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 have been, they’ve had a prodiscovered impact on the world. They little question 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. Thousands of other crypto coins have come alongside 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. In case you don’t know why then let me explain.

If you do not know what Bitcoin is I will just provide you with just a few transient key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Forged

Not All Coins Are in Circulation Yet

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each four Years

What Makes Bitcoin Different?

So what makes Bitcoin different to all of the 1000’s 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 people started to see the benefits of Bitcoin and how the price would enhance as a result of 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.

Builders can upgrade and improve the Bitcoin network however this must be executed my consensus throughout the entire Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin unique and impossible to replicate.

There are literally thousands of other cryptocurrencies available now but as an example of what makes Bitcoin different I am going to use Ethereum as example. It is 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 final say on any development that happens on Ethereum.

Censorship And Authorities 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 just not a superb situation but it’s presupposed to show you ways 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 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 happens once more however this time Iran use the Ethereum blockchain to send the cash 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 and so they 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 could 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 identical thing happens again. This time Iran use Bitcoin as their payment method. The US Authorities see this and are powerless to stop it.

There is nobody to call. There is nobody to put pressure on. The Bitcoin is beyond censorship.

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

One other instance could be if Vitalik’s family had been taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest investment on the planet.

Learn Methods to Use Bitcoin

Everyone should own some Bitcoin. It isn’t without it’s dangerous though. Should you’re new to Bitcoin then you should study as much much as you may earlier than you invest any money. Owning Bitcoin comes with a number 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 money until you know what you’re doing!

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