Well, it’s been a crazy 10 years for Bitcoin. Actually 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 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 alongside 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. When you don’t know why then let me explain.
If you happen to do not know what Bitcoin is I am going to just give you a couple of brief key factors:
Bitcoin Is An Online Cryptocurrency
It Has a Maximum Supply of 21 Million
It Cannot Be Forged
Not All Coins Are in Circulation Yet
It Is Absolutely Decentralized Without Anybody Controlling It
It Can’t Be Censored
It’s Peer to Peer Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every 4 Years
What Makes Bitcoin Totally different?
So what makes Bitcoin different to all of the thousands of other 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 price would improve attributable to it’s fixed supply, it began to grow faster.
The Bitcoin blockchain is now spread throughout hundreds of thousands of laptop everywhere in the world. It has spread beyond the management 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 completed my consensus throughout the entire Bitcoin network. No one single 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 totally different I am going to 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 occurs on Ethereum.
Censorship And Government 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 is not a good situation however it’s speculated 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 government say cling on a minute, we have to freeze these transactions and confiscate the money.. Easy. They do that straight away and the problem is over.
Second example. The same thing occurs once more however this time Iran use the Ethereum blockchain to send the money to North Korea. The US government are see what is happening. A phone call is made.
«Get Vitalik Buterin in Right here NOW»
The US government «places 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 before when a hacker stole a significant quantity 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 different cryptocurrency.
Bitcoin Cannot 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 isn’t abody to call. There isn’t anybody to place pressure on. The Bitcoin is beyond censorship.
Every different cryptocurrency out there has been created by somebody or some company and that will always be the purpose of failure. They are still centralized.
One other instance could be if Vitalik’s family have been taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest investment on the planet.
Study Tips on how to Use Bitcoin
Everyone ought to own some Bitcoin. It is not without it’s dangerous though. In the event you’re new to Bitcoin then you need to study as much a lot as you may before you invest any money. Owning Bitcoin comes with numerous responsabilty. Discover ways to use Bitcoin safely.
For people just getting into the world of cryptocurrencies there are many hidden dangers. Don’t part with your hard earned cash until you know what you are doing!
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