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Why There Will Never Be Another Bitcoin
Well, it's been a loopy 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 profound impact on the world. They little doubt predicted that which is why they chose to disappear 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 proceed to fail. Bitcoin is one a kind. Something that can't be replicated. If you don't know why then let me explain.
For those who don't know what Bitcoin is I will just provide you with a couple of brief key points:
Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Solid
Not All Coins Are in Circulation But
It Is Absolutely Decentralized Without Anybody Controlling It
It Can't Be Censored
It's Peer to Peer Money
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every 4 Years
What Makes Bitcoin Completely different?
So what makes Bitcoin totally different to all of the 1000's 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 how the price would improve resulting from it's fixed supply, it began to develop faster.
The Bitcoin blockchain is now spread throughout hundreds of 1000's of pc all around the world. It has spread past the management of any government. It is creator has vanished and now it runs autonomously.
Builders can upgrade and improve the Bitcoin network however this has to be finished my consensus throughout the entire Bitcoin network. Nobody single individual can management Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.
There are literally thousands of other cryptocurrencies available now but for example of what makes Bitcoin totally different I will use Ethereum as example. It is a one of many 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 ultimate say on any development that occurs 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 very good situation however it's presupposed to show you how your cash is safer in Bitcoin!
Anyway.. first example. Iran is using the usual banking system and transferring this money to North Korea in USD. The US government say dangle 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 once more but this time Iran use the Ethereum blockchain to ship the money to North Korea. The US authorities are see what is happening. A phone call is made.
"Get Vitalik Buterin in Here NOW"
The US authorities "places some pressure" on Vitalik and 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. Sadly Ethererum's credibility can be ruined alongside 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 Government see this and are energyless to stop it.
There is no such thing as abody to call. There is nobody to put 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're still centralized.
One other example could be if Vitalik's household have been taken hostage.. Bitcoin is beyond any of this and that is why it's the safest funding on the planet.
Be taught Tips on how to Use Bitcoin
Everybody ought to own some Bitcoin. It is not without it's dangerous 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 numerous responsabilty. Learn how to use Bitcoin safely.
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