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 prodiscovered impact on the world. They little question 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. Hundreds of different crypto coins have come along since all attempting 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. In the event you do not know why then let me explain.

In case you do not know what Bitcoin is I am going to just provide you with a few temporary key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Cast

Not All Cash Are in Circulation Yet

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Totally different?

So what makes Bitcoin completely different to all of the hundreds 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 individuals started to see the benefits of Bitcoin and the way the worth would enhance due to it’s fixed supply, it started to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000’s of pc 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 has to be completed my consensus all through the whole Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are thousands of other cryptocurrencies available now but for example of what makes Bitcoin completely different I will 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 final 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 is just not a superb situation but it’s presupposed to show you how 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 government say grasp on a minute, we have to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

Second example. The same thing occurs once more but this time Iran use the Ethereum blockchain to ship the cash to North Korea. The US authorities 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 truly been rolled back earlier than when a hacker stole a significant amount of funds).

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

Ethereum is just an example, but it’s true for every different 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 nobody to place pressure on. The Bitcoin is past censorship.

Each 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 instance would be if Vitalik’s household had been taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest investment on the planet.

Be taught The best way to Use Bitcoin

Everyone ought to own some Bitcoin. It’s not without it’s harmful though. If you’re new to Bitcoin then it’s best to study as a lot a lot as you possibly can before you invest any money. Owning Bitcoin comes with a number of responsabilty. Learn how to use Bitcoin safely.

For folks just getting into 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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