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Why There Will Never 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 were, they've had a prodiscovered effect on the world. They no doubt predicted that which is why they selected 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 making an attempt 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. Should you don't know why then let me explain.

 

 

In the event you don't know what Bitcoin is I'll just give you a few temporary key points:

 

 

Bitcoin Is An Online Cryptocurrency

 

It Has a Maximum Supply of 21 Million

 

It Cannot Be Solid

 

Not All Coins Are in Circulation Yet

 

It Is Absolutely Decentralized Without Anybody Controlling It

 

It Cannot Be Censored

 

It is Peer to Peer Cash

 

Anybody Can Use It

 

Bitcoin Has a Fixed Supply Which Decreases Every four Years

 

What Makes Bitcoin Different?

 

So what makes Bitcoin completely different to all the thousands of different coins which have been invented since?

 

 

When Bitcoin was first invented it began to spread slowly among a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and the way the price would enhance resulting from it's fixed supply, it started to grow faster.

 

 

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

 

 

Builders can upgrade and improve the Bitcoin network but this has to be carried out my consensus all through the entire Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin unique and impossible to replicate.

 

 

There are millions of other cryptocurrencies available now however for example of what makes Bitcoin totally different I'll use Ethereum as example. It's 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 final say on any development that occurs on Ethereum.

 

 

Censorship And Authorities 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 great situation however it's purported to show you the way your cash 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 authorities say hang 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 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 Here NOW"

 

 

The US authorities "puts 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 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, but it's true for each other cryptocurrency.

 

 

Bitcoin Can't Be Stopped

 

 

So the same thing happens 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 is no such thing as abody to put pressure on. The Bitcoin is past censorship.

 

 

Every other cryptocurrency out there was created by someone or some company and that will always be the point of failure. They are still centralized.

 

 

Another instance could be if Vitalik's household were taken hostage.. Bitcoin is past any of this and that's the reason it's the safest funding on the planet.

 

 

Study How to Use Bitcoin

 

 

Everybody should own some Bitcoin. It's not without it's harmful though. When you're new to Bitcoin then you should study as much much as you possibly can before you make investments any money. Owning Bitcoin comes with a variety of responsabilty. Learn to use Bitcoin safely.

 

 

For people just entering the world of cryptocurrencies there are lots of hidden dangers. Do not part with your hard earned cash until you know what you are doing!

 

 

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