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0 Well, it’s been a loopy 10 years for Bitcoin. Actually it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they were, they’ve had a prodiscovered impact on the world. They little doubt 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. Thousands of other crypto coins have come alongside 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 can’t be replicated. If you happen to do not know why then let me explain.
Should you do not know what Bitcoin is I’ll just give you a couple of temporary key factors:
Bitcoin Is An Online Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Solid
Not All Cash Are in Circulation Yet
It Is Totally Decentralized Without Anybody Controlling It
It Can’t Be Censored
It is Peer to Peer Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each 4 Years
What Makes Bitcoin Different?
So what makes Bitcoin totally different to all the 1000’s of other 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 folks started to see the benefits of Bitcoin and how the price would enhance as a result of it’s fixed provide, it began to grow faster.
The Bitcoin blockchain is now spread throughout hundreds of 1000’s of computer all around the world. It has spread past the control of any government. It is creator has vanished and now it runs autonomously.
Developers can upgrade and improve the Bitcoin network however this has to be performed my consensus throughout the entire Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.
There are millions of other cryptocurrencies available now however for example of what makes Bitcoin 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 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 an excellent situation but it’s speculated to show you how your cash is safer in Bitcoin!
Anyway.. first example. Iran is utilizing the usual banking system and transferring this money to North Korea in USD. The US authorities 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 same thing occurs once more however this time Iran use the Ethereum blockchain to ship 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 government “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 quantity of funds).
Problem solved. Sadly Ethererum’s credibility would be ruined along with it’s price.
Ethereum is just an example, but 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 nobody to call. There isn’t anybody to put pressure on. The Bitcoin is beyond censorship.
Each different cryptocurrency out there has been created by somebody or some firm and that will always be the point of failure. They are 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.
Learn The best way to Use Bitcoin
Everyone ought to own some Bitcoin. It isn’t without it’s harmful though. When you’re new to Bitcoin then you should learn as much much as you may earlier than you invest any money. Owning Bitcoin comes with a variety of responsabilty. Discover ways 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’re doing!
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