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Why There Will Never Be One Other Bitcoin

Why There Will Never Be One Other 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 have been, they've had a prodiscovered effect 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. Hundreds of different crypto coins have come along 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. In the event you don't know why then let me explain.

Should you do not know what Bitcoin is I'll just give you just a few temporary key points:

Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't Be Forged
Not All Cash Are in Circulation But
It Is Absolutely Decentralized Without Anybody Controlling It
It Cannot Be Censored
It's Peer to Peer Money
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every four Years
What Makes Bitcoin Totally different?
So what makes Bitcoin completely different to all of the thousands 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 value would improve as a result of it's fixed supply, it started to grow faster.

The Bitcoin blockchain is now spread across hundreds of hundreds of laptop all around 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 however this must be finished my consensus throughout the whole Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.

There are thousands of different cryptocurrencies available now however for example of what makes Bitcoin completely different I am going to 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 ultimate say on any development that happens 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 shouldn't be a very good situation but it's purported to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the standard banking system and transferring this cash to North Korea in USD. The US authorities say hold 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 same thing occurs again but this time Iran use the Ethereum blockchain to send 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 "puts some pressure" on Vitalik and they make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has truly been rolled back earlier than when a hacker stole a significant quantity of funds).

Problem solved. Unfortunately Ethererum's credibility would be ruined along with it's price.

Ethereum is just an example, however it's true for every other cryptocurrency.

Bitcoin Can't Be Stopped

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

There is no such thing as abody to call. There is no such thing as abody to put pressure on. The Bitcoin is past censorship.

Each other cryptocurrency out there has been created by somebody or some company and that will always be the point of failure. They're still centralized.

Another example could be if Vitalik's family have 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's not without it's harmful though. In case you're new to Bitcoin then it's best to study as much much as you possibly can earlier than you invest any money. Owning Bitcoin comes with plenty of responsabilty. Learn to use Bitcoin safely.

For people just entering the world of cryptocurrencies there are many hidden dangers. Don't part with your hard earned cash until you know what you're doing!

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