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Why There Will Never Be Another Bitcoin

Well, it’s been a crazy 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 profound impact on the world. They no 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. Hundreds of other crypto coins have come alongside 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 may’t be replicated. For those who do not know why then let me explain.

For those who do not know what Bitcoin is I’ll just offer you a few transient key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Solid

Not All Cash Are in Circulation But

It Is Totally Decentralized Without Anybody Controlling It

It Can’t Be Censored

It is Peer to Peer Cash

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every four Years

What Makes Bitcoin Different?

So what makes Bitcoin totally different to all the thousands of different 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 how the value would enhance as a consequence of it’s fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of pc all around the world. It has spread beyond the control of any government. It’s creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network but this must be executed my consensus throughout the entire Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are literally thousands of other cryptocurrencies available now however as an example of what makes Bitcoin completely different I will use Ethereum as example. It’s 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 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 will not be an excellent situation but it’s alleged to show you ways 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 dangle 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 again but this time Iran use the Ethereum blockchain to ship the cash 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 “puts some pressure” on Vitalik and so 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 quantity of funds).

Problem solved. Unfortunately Ethererum’s credibility can be ruined alongside with it’s price.

Ethereum is just an instance, however it’s true for every different cryptocurrency.

Bitcoin Can’t Be Stopped

So the identical 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 nobody to put pressure on. The Bitcoin is past censorship.

Every different cryptocurrency out there was created by somebody or some company and that will always be the point of failure. They are still centralized.

One other example would be if Vitalik’s household had been taken hostage.. Bitcoin is past any of this and that is why it’s the safest funding on the planet.

Study The right way to Use Bitcoin

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

For individuals just coming into the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned money till you know what you’re doing!

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