Why There Will Never Be One Other 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 prodiscovered 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 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. If you don't know why then let me explain.

If you do not know what Bitcoin is I'll just offer you a couple of brief key points:

Bitcoin Is An Online Cryptocurrency
It Has a Most Supply of 21 Million
It Can't Be Solid
Not All Coins Are in Circulation Yet
It Is Fully 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 four Years
What Makes Bitcoin Completely different?
So what makes Bitcoin totally different to all of the hundreds of different 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 individuals started to see the benefits of Bitcoin and how the value would increase due to it's fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread across hundreds of 1000's of pc all around the world. It has spread past 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 achieved my consensus throughout the entire Bitcoin network. Nobody single individual can management Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.

There are literally thousands of other cryptocurrencies available now but as an example 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 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 isn't a very good situation but it's purported to show you how 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 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 same thing happens 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 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 really 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 example, however it's true for each different cryptocurrency.

Bitcoin Can't Be Stopped

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

There isn't anybody to call. There is no such thing as abody to put pressure on. The Bitcoin is beyond censorship.

Each other cryptocurrency out there was created by somebody or some firm and that will always be the purpose of failure. They are still centralized.

Another example can be if Vitalik's household had been taken hostage.. Bitcoin is beyond any of this and that's the reason it's the safest investment on the planet.

Study Tips on how to Use Bitcoin

Everybody should own some Bitcoin. It is not without it's harmful though. Should you're new to Bitcoin then it's best to learn as a lot a lot as you can before you make investments any money. Owning Bitcoin comes with quite a lot of responsabilty. Discover ways to use Bitcoin safely.

For folks just getting into the world of cryptocurrencies there are lots of hidden dangers. Do not part with your hard earned money until you know what you're doing!

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