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Why There Will By no means Be Another Bitcoin
Well, it's been a loopy 10 years for Bitcoin. Really 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 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. 1000's of different crypto coins have come alongside since all trying 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. For those who do not know why then let me explain.
When you do not know what Bitcoin is I'll just offer you a number of brief key factors:
Bitcoin Is An Online Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Solid
Not All Cash Are in Circulation But
It Is Absolutely Decentralized Without Anybody Controlling It
It Can't Be Censored
It's Peer to Peer Money
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every 4 Years
What Makes Bitcoin Totally different?
So what makes Bitcoin totally 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 people started to see the benefits of Bitcoin and how the worth would increase resulting from it's fixed provide, it started to develop faster.
The Bitcoin blockchain is now spread across hundreds of 1000's of computer all around 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 however this needs to be executed my consensus throughout the whole Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.
There are thousands of other cryptocurrencies available now however for instance of what makes Bitcoin totally different I'll 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 ultimate 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 isn't a great situation however it's speculated to show you the way your cash is safer in Bitcoin!
Anyway.. first example. Iran is utilizing the usual banking system and transferring this money to North Korea in USD. The US authorities say hold 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 identical thing happens once more but this time Iran use the Ethereum blockchain to ship the money to North Korea. The US government are see what's happening. A phone call is made.
"Get Vitalik Buterin in 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 actually been rolled back before when a hacker stole a significant amount of funds).
Problem solved. Unfortunately Ethererum's credibility can be ruined alongside with it's price.
Ethereum is just an example, however 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 powerless to stop it.
There is no such thing as abody 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 company and that will always be the point of failure. They are still centralized.
Another instance can be if Vitalik's family had been taken hostage.. Bitcoin is past any of this and that is why it's the safest investment on the planet.
Be taught Tips on how to Use Bitcoin
Everyone should own some Bitcoin. It is not without it's harmful though. Should you're new to Bitcoin then you need to be taught as a lot much as you can before you invest any money. Owning Bitcoin comes with quite a lot of responsabilty. Learn to use Bitcoin safely.
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