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Why There Will By no means 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 were, they've had a prodiscovered impact 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 along 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. If you don't know why then let me explain.

Should you do not know what Bitcoin is I'll just give you just a few temporary key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Forged

Not All Coins Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Cannot Be Censored

It's Peer to Peer Cash

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each four Years

What Makes Bitcoin Completely different?

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

When Bitcoin was first invented it started to spread slowly among a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and how the worth would increase attributable to it's fixed supply, it started to grow faster.

The Bitcoin blockchain is now spread across hundreds of thousands of laptop all over the world. It has spread beyond 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 all through the entire Bitcoin network. No one single person can management Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.

There are literally thousands of other cryptocurrencies available now but as an example of what makes Bitcoin totally different I am going to 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 happens on Ethereum.

Censorship And Government 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 isn't a great situation but it's supposed to show you how your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this money to North Korea in USD. The US authorities say grasp on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

Second example. The same thing occurs once more however this time Iran use the Ethereum blockchain to ship the money 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 so they 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 can be ruined along with it's price.

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

Bitcoin Can't Be Stopped

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

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

Every 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 example can be if Vitalik's family have been taken hostage.. Bitcoin is beyond any of this and that is why it's the safest investment on the planet.

Be taught How you can Use Bitcoin

Everyone ought to own some Bitcoin. It isn't without it's dangerous though. In case you're new to Bitcoin then you should be taught as much much as you possibly can earlier than you make investments any money. Owning Bitcoin comes with plenty of responsabilty. Learn to use Bitcoin safely.