Why There Will By no means 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 had been, they’ve had a prodiscovered impact on the world. They little question 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. 1000’s of different crypto coins have come along since all trying 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. In the event you do not know why then let me explain.

In the event you don’t know what Bitcoin is I will just offer you just a few transient key points:

Bitcoin Is An Online 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 Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every 4 Years

What Makes Bitcoin Different?

So what makes Bitcoin totally different to all the 1000’s of different coins which have been invented since?

When Bitcoin was first invented it began to spread slowly amongst a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and how the price would improve due to it’s fixed provide, it started to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000’s of laptop all around the world. It has spread past 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 accomplished my consensus all through the whole Bitcoin network. No one single particular person can management Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.

There are thousands of other cryptocurrencies available now however for instance of what makes Bitcoin totally different I will use Ethereum as example. It’s a one of the 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 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 very good situation but it’s alleged to show you how your cash is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this money to North Korea in USD. The US authorities say cling 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 occurs once more however this time Iran use the Ethereum blockchain to ship 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 “places some pressure” on Vitalik they usually 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 quantity of funds).

Problem solved. Sadly Ethererum’s credibility would be ruined alongside with it’s price.

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

Bitcoin Can’t Be Stopped

So the identical thing happens 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 is nobody to place pressure on. The Bitcoin is past censorship.

Each different cryptocurrency out there has been created by somebody or some company and that will always be the point of failure. They’re still centralized.

Another example could be if Vitalik’s family were taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest investment on the planet.

Learn The right way to Use Bitcoin

Everyone ought to own some Bitcoin. It isn’t without it’s dangerous though. Should you’re new to Bitcoin then you must study as much a lot as you possibly can earlier than you make investments any money. Owning Bitcoin comes with a lot of responsabilty. Learn to use Bitcoin safely.

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