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Why There Will By no means Be One other Bitcoin
Well, it's been a crazy 10 years for Bitcoin. Actually 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 no doubt 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 along 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. Should you don't know why then let me explain.
When you do not know what Bitcoin is I'll just give you a number of brief key points:
Bitcoin Is An Online Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't 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 Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each 4 Years
What Makes Bitcoin Completely different?
So what makes Bitcoin different to all the thousands of different 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 people started to see the benefits of Bitcoin and how the worth would enhance on account of it's fixed provide, it started to develop faster.
The Bitcoin blockchain is now spread throughout hundreds of 1000's of computer all around the world. It has spread beyond the management 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 performed my consensus all through the entire Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.
There are millions of other cryptocurrencies available now however for instance of what makes Bitcoin totally different I will 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 ultimate 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 will not be a good situation but it's alleged to show you how your money is safer in Bitcoin!
Anyway.. first example. Iran is using the usual banking system and transferring this money to North Korea in USD. The US government say hang on a minute, we have to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.
Second example. The identical thing occurs once more but this time Iran use the Ethereum blockchain to send the money to North Korea. The US authorities are see what is 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 really been rolled back before when a hacker stole a significant quantity of funds).
Problem solved. Unfortunately 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 Cannot Be Stopped
So the same thing happens again. This time Iran use Bitcoin as their payment method. The US Authorities see this and are energyless to stop it.
There is nobody to call. There is no such thing as abody to put pressure on. The Bitcoin is past censorship.
Every different cryptocurrency out there has been created by someone or some company and that will always be the point of failure. They're still centralized.
Another instance can be if Vitalik's family were taken hostage.. Bitcoin is beyond any of this and that's the reason it's the safest investment on the planet.
Learn How to Use Bitcoin
Everyone ought to own some Bitcoin. It isn't without it's harmful though. In the event you're new to Bitcoin then you must be taught as a lot much as you may earlier than you invest any money. Owning Bitcoin comes with lots of responsabilty. Learn how to use Bitcoin safely.
For people just entering the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned cash until you know what you're doing!
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Website: https://zonecrypto.fr/bitcode-ai/
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