Why There Will Never 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 had been, they’ve had a prodiscovered effect on the world. They little 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. Thousands of other 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 can’t be replicated. Should you don’t know why then let me explain.

Should you do not know what Bitcoin is I will just give you a number of temporary key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Solid

Not All Cash Are in Circulation But

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every 4 Years

What Makes Bitcoin Different?

So what makes Bitcoin different to all of the hundreds of other 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 individuals started to see the benefits of Bitcoin and the way the price would improve as a consequence of it’s fixed supply, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of pc 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 but this must be achieved my consensus throughout the whole Bitcoin network. No one single particular person 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 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 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 just isn’t a superb situation but it’s presupposed to show you the way your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the usual banking system and transferring this cash 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 however this time Iran use the Ethereum blockchain to ship 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 “puts some pressure” on Vitalik they usually 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. Unfortunately Ethererum’s credibility could be ruined along with it’s price.

Ethereum is just an example, but it’s true for each 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 no such thing as abody to call. There is no such thing as abody to put pressure on. The Bitcoin is beyond censorship.

Each other 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 could be if Vitalik’s family had been taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest funding on the planet.

Learn Learn how to Use Bitcoin

Everyone should own some Bitcoin. It is not without it’s harmful though. For those who’re new to Bitcoin then it’s best to study as much a lot as you’ll be able to earlier than you make investments any money. Owning Bitcoin comes with quite a lot of responsabilty. Learn to use Bitcoin safely.

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