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 had been, they’ve had a profound effect on the world. They no doubt 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. 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. In case you don’t know why then let me explain.

For those who don’t know what Bitcoin is I am going to just offer you a couple of brief key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Solid

Not All Coins Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Completely different?

So what makes Bitcoin completely different to all of the thousands of other coins which have been invented since?

When Bitcoin was first invented it began to spread slowly amongst a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and the way the worth would improve due to it’s fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000’s of laptop all over the world. It has spread beyond the management of any government. It’s creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network however this has to be done my consensus throughout the whole Bitcoin network. No one single person can management Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.

There are literally thousands of other cryptocurrencies available now however for example of what makes Bitcoin different I’ll use Ethereum as example. It is 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 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 is just not a good situation but it’s presupposed to show you the way 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 authorities say grasp 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 same thing happens once more however this time Iran use the Ethereum blockchain to send the cash to North Korea. The US authorities 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 and they 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 quantity of funds).

Problem solved. Unfortunately Ethererum’s credibility can be ruined along with it’s price.

Ethereum is just an instance, but it’s true for every other cryptocurrency.

Bitcoin Cannot 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 is nobody to call. There isn’t anybody to place pressure on. The Bitcoin is beyond censorship.

Each other 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 instance would be if Vitalik’s family were taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest investment on the planet.

Study How you can Use Bitcoin

Everyone should own some Bitcoin. It is not without it’s harmful though. Should you’re new to Bitcoin then you must learn as a lot much as you possibly can before you make investments any money. Owning Bitcoin comes with a whole lot of responsabilty. Learn to use Bitcoin safely.

For folks just coming into the world of cryptocurrencies there are lots of hidden dangers. Don’t part with your hard earned cash till you know what you’re doing!

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