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Why There Will By no means Be Another Bitcoin

 

Well, it's been a crazy 10 years for Bitcoin. Truly 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 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. 1000's of other crypto coins have come alongside since all making an attempt to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that can't be replicated. Should you don't know why then let me explain.

 

 

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

 

 

Bitcoin Is An On-line Cryptocurrency

 

It Has a Maximum Supply of 21 Million

 

It Cannot Be Forged

 

Not All Coins Are in Circulation But

 

It Is Totally Decentralized Without Anybody Controlling It

 

It Cannot Be Censored

 

It's Peer to Peer Money

 

Anyone Can Use It

 

Bitcoin Has a Fixed Supply Which Decreases Every four Years

 

What Makes Bitcoin Completely different?

 

So what makes Bitcoin completely different to all of 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 how the price would improve because of it's fixed supply, it started to develop faster.

 

 

The Bitcoin blockchain is now spread throughout hundreds of 1000's of laptop everywhere in 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 must be achieved my consensus throughout the whole Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

 

 

There are millions of other cryptocurrencies available now however for instance of what makes Bitcoin completely different I'll use Ethereum as example. It's a one of many 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 occurs 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 shouldn't be a very good situation however it's imagined to show you the way your money is safer in Bitcoin!

 

 

Anyway.. first example. Iran is using the standard banking system and transferring this money to North Korea in USD. The US government say dangle 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 identical thing happens once more but 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 they make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has really been rolled back before when a hacker stole a significant quantity of funds).

 

 

Problem solved. Sadly Ethererum's credibility would be ruined along with it's price.

 

 

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

 

 

Bitcoin Can't 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 is no such thing as abody to call. There isn't anybody to put pressure on. The Bitcoin is past censorship.

 

 

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

 

 

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

 

 

Be taught Tips on how to Use Bitcoin

 

 

Everyone should own some Bitcoin. It's not without it's dangerous though. When you're new to Bitcoin then you need to learn as a lot much as you can earlier than you make investments any money. Owning Bitcoin comes with a whole lot of responsabilty. Discover ways to use Bitcoin safely.

 

 

For folks just coming into the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned money till you know what you're doing!

 

 

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