Why There Will By no means Be Another Bitcoin

Well, it's been a loopy 10 years for Bitcoin. Truly 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 little question predicted that which is why they chose to disappear from the limelight.

So over a decade later Bitcoin is still alive and stronger than ever. Thousands of different crypto coins have come alongside since all attempting 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. For those who don't know why then let me explain.

Should you don't know what Bitcoin is I will just provide you with just a few transient key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can't Be Solid

Not All Coins Are in Circulation But

It Is Totally Decentralized Without Anybody Controlling It

It Cannot Be Censored

It's Peer to Peer Cash

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every 4 Years

What Makes Bitcoin Completely different?

So what makes Bitcoin 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 among a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and how the value would increase as a result of it's fixed provide, it began to develop faster.

The Bitcoin blockchain is now spread across hundreds of 1000's of laptop everywhere in the world. It has spread beyond the management of any government. It is creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network but this has to be executed my consensus all through the entire Bitcoin network. Nobody single person can control Bitcoin. This is what makes Bitcoin distinctive and inconceivable to replicate.

There are 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 occurs 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 shouldn't be a very good situation but it's supposed to show you ways your money 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 government say grasp 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 same thing occurs again but this time Iran use the Ethereum blockchain to send the cash 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 and they make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has truly been rolled back before when a hacker stole a significant amount of funds).

Problem solved. Unfortunately Ethererum's credibility could be ruined alongside with it's price.

Ethereum is just an example, however it's true for each different 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 energyless to stop it.

There is nobody to call. There isn't anybody to place pressure on. The Bitcoin is beyond censorship.

Each different 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 could be if Vitalik's household 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

Everybody ought to own some Bitcoin. It isn't without it's dangerous though. For those who're new to Bitcoin then you must study as much much as you possibly can earlier than you invest any money. Owning Bitcoin comes with a number of responsabilty. Learn how to use Bitcoin safely.

For individuals just entering the world of cryptocurrencies there are lots of hidden dangers. Don't part with your hard earned money till you know what you're doing!

If you beloved this informative article as well as you wish to receive details about trustworthy bitcoin robots kindly visit the site.

Forum Role: Participant

Topics Started: 0

Replies Created: 0