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Why There Will By no means Be One other 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 impact on the world. They little doubt predicted that which is why they selected 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 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. If you happen to don't know why then let me explain.
Should you don't know what Bitcoin is I will just offer you just a few brief key points:
Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Can't Be Cast
Not All Coins Are in Circulation Yet
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 Every 4 Years
What Makes Bitcoin Completely different?
So what makes Bitcoin totally different to all of the 1000's of other coins which have been invented since?
When Bitcoin was first invented it started to spread slowly amongst a small group of people. It grew organically. When individuals started to see the benefits of Bitcoin and the way the price would increase attributable to it's fixed supply, it began 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 control of any government. It's creator has vanished and now it runs autonomously.
Builders can upgrade and improve the Bitcoin network but this has to be carried out my consensus all through the entire Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.
There are millions of different cryptocurrencies available now however for example of what makes Bitcoin completely different I'll use Ethereum as example. It is 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 happens 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 will not be a superb situation however it's speculated to show you how your cash 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 government say hang 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 again but this time Iran use the Ethereum blockchain to ship the money to North Korea. The US government are see what is happening. A phone call is made.
"Get Vitalik Buterin in 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 truly been rolled back earlier than when a hacker stole a significant amount of funds).
Problem solved. Sadly Ethererum's credibility would be ruined along with it's price.
Ethereum is just an example, however it's true for each other cryptocurrency.
Bitcoin Can't Be Stopped
So the same thing happens again. This time Iran use Bitcoin as their payment method. The US Authorities see this and are powerless to stop it.
There isn't abody to call. There isn't abody to place pressure on. The Bitcoin is beyond censorship.
Each different cryptocurrency out there was created by someone or some company and that will always be the point of failure. They are still centralized.
One other instance can be if Vitalik's family have been taken hostage.. Bitcoin is beyond any of this and that's the reason it's the safest investment on the planet.
Learn Learn how to Use Bitcoin
Everyone ought to own some Bitcoin. It is not without it's dangerous though. In case you're new to Bitcoin then you need to learn as much much as you'll be able to earlier than you make investments any money. Owning Bitcoin comes with a variety of responsabilty. Discover ways to use Bitcoin safely.
For folks just entering the world of cryptocurrencies there are lots of hidden dangers. Do not part with your hard earned money till you know what you are doing!
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