Why There Will By no means Be Another Bitcoin
Well, it's been a crazy 10 years for Bitcoin. Truly 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 question 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 different 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 can't be replicated. In case you do not know why then let me explain.
If you don't know what Bitcoin is I am going to just provide you with a number of temporary key points:
Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Can't Be Forged
Not All Cash Are in Circulation Yet
It Is Fully Decentralized Without Anybody Controlling It
It Cannot Be Censored
It's 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 different to all of the 1000's of different 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 people started to see the benefits of Bitcoin and the way the price would enhance due to it's fixed supply, it began to grow faster.
The Bitcoin blockchain is now spread throughout hundreds of hundreds of laptop everywhere in the world. It has spread beyond the control of any government. It's creator has vanished and now it runs autonomously.
Builders can upgrade and improve the Bitcoin network however this needs to be completed my consensus all through the whole Bitcoin network. No one single individual 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 different I'll use Ethereum as example. It's 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 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 will not be a superb situation but it's speculated to show you ways 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 government say hang on a minute, we have to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.
Second example. The identical 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 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 truly 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, however it's true for each different cryptocurrency.
Bitcoin Cannot Be Stopped
So the identical thing occurs 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 is nobody to put pressure on. The Bitcoin is past censorship.
Every different cryptocurrency out there has been created by someone or some company and that will always be the point of failure. They're still centralized.
Another example would be if Vitalik's household have been taken hostage.. Bitcoin is beyond any of this and that's the reason it's the safest investment on the planet.
Be taught Easy methods to Use Bitcoin
Everybody ought to own some Bitcoin. It isn't without it's harmful though. Should you're new to Bitcoin then you should be taught as a lot a lot as you possibly can earlier than you invest any money. Owning Bitcoin comes with a lot of responsabilty. Learn to use Bitcoin safely.
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