Why There Will Never Be Another Bitcoin

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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 had been, they’ve had a profound impact on the world. They little doubt predicted that which is why they chose 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 along since all making an attempt 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. In the event you do not know why then let me explain.

When you don’t know what Bitcoin is I will just give you just a few temporary key points:

Bitcoin Is An Online Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Forged

Not All Coins Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each four Years

What Makes Bitcoin Different?

So what makes Bitcoin completely different to all the hundreds 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 people started to see the benefits of Bitcoin and the way the price would improve resulting from it’s fixed supply, it started to develop faster.

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

Developers can upgrade and improve the Bitcoin network however this has to be finished my consensus throughout the whole Bitcoin network. Nobody single individual can management Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are millions of other cryptocurrencies available now but for example of what makes Bitcoin different I am going to 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 just isn’t a great situation but it’s imagined to show you ways your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this cash to North Korea in USD. The US authorities say hold on a minute, we need 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 send the money to North Korea. The US government are see what’s happening. A phone call is made.

“Get Vitalik Buterin in Here NOW”

The US authorities “puts 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 earlier than when a hacker stole a significant amount of funds).

Problem solved. Sadly Ethererum’s credibility can be ruined along with it’s price.

Ethereum is just an example, but it’s true for each other cryptocurrency.

Bitcoin Can’t Be Stopped

So the identical thing occurs again. This time Iran use Bitcoin as their payment method. The US Government see this and are powerless to stop it.

There is nobody to call. There isn’t anybody to put pressure on. The Bitcoin is beyond censorship.

Each other cryptocurrency out there has been created by someone or some firm and that will always be the purpose of failure. They’re still centralized.

One other example would be if Vitalik’s family were taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest investment on the planet.

Be taught How one can Use Bitcoin

Everybody ought to own some Bitcoin. It’s not without it’s harmful though. If you happen to’re new to Bitcoin then you should be taught as much a lot as you’ll be able to earlier than you invest any money. Owning Bitcoin comes with quite a lot of responsabilty. Learn how to use Bitcoin safely.

For individuals just getting into the world of cryptocurrencies there are lots of hidden dangers. Don’t part with your hard earned cash until you know what you’re doing!

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