Well, it’s been a crazy 10 years for Bitcoin. Actually 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 no 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. Hundreds of different crypto coins have come alongside since all attempting 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 case you do not know why then let me explain.

For those who don’t know what Bitcoin is I am going to just offer you a couple of transient key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Solid

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 4 Years

What Makes Bitcoin Totally different?

So what makes Bitcoin totally different to all of the 1000’s of other 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 people started to see the benefits of Bitcoin and the way the worth would increase as a consequence of it’s fixed provide, it started to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000’s of laptop everywhere in the world. It has spread beyond 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 must be achieved my consensus throughout the whole Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin distinctive and inconceivable to replicate.

There are millions of other cryptocurrencies available now however as an 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 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 shouldn’t be a superb situation but it’s alleged to show you the way your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this cash to North Korea in USD. The US authorities say grasp 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 same thing happens again however this time Iran use the Ethereum blockchain to send the cash 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 authorities “puts some pressure” on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has actually been rolled back before when a hacker stole a significant amount of funds).

Problem solved. Unfortunately Ethererum’s credibility can be ruined along 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 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 no such thing as abody to put pressure on. The Bitcoin is past censorship.

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

One other instance could be if Vitalik’s household were taken hostage.. Bitcoin is past any of this and that is why it’s the safest investment on the planet.

Learn How you can Use Bitcoin

Everyone ought to own some Bitcoin. It is not without it’s harmful though. In the event you’re new to Bitcoin then you need to be taught as much a lot as you may before you invest any money. Owning Bitcoin comes with a lot of responsabilty. Learn how to use Bitcoin safely.

For individuals just getting into the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned cash till you know what you are doing!

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