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 had been, they’ve had a profound effect 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. Thousands 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. Should you don’t know why then let me explain.

If you do not know what Bitcoin is I’ll just provide you with a number of transient key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Cast

Not All Cash Are in Circulation Yet

It Is Totally Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Cash

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Different?

So what makes Bitcoin different to all the 1000’s of other coins which have been invented since?

When Bitcoin was first invented it started to spread slowly among a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and the way the value would enhance on account of it’s fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread across hundreds of hundreds of pc 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 must be executed my consensus all through the whole Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.

There are millions of different cryptocurrencies available now but for example of what makes Bitcoin totally different I am going to 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 ultimate say on any development that happens on Ethereum.

Censorship And Government 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 isn’t a good situation however it’s supposed 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 grasp on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do that straight away and the problem is over.

Second example. The same thing happens again but this time Iran use the Ethereum blockchain to ship the cash to North Korea. The US authorities are see what is happening. A phone call is made.

«Get Vitalik Buterin in Right here NOW»

The US government «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 earlier than when a hacker stole a significant amount of funds).

Problem solved. Unfortunately Ethererum’s credibility can be ruined alongside with it’s price.

Ethereum is just an example, however it’s true for each different cryptocurrency.

Bitcoin Can’t Be Stopped

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

There isn’t anybody to call. There is no such thing as abody to put pressure on. The Bitcoin is past censorship.

Each different cryptocurrency out there was created by somebody or some firm and that will always be the purpose of failure. They’re still centralized.

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

Be taught The right way to Use Bitcoin

Everybody ought to own some Bitcoin. It is not without it’s dangerous though. Should you’re new to Bitcoin then it is best to learn as a lot much as you’ll be able to earlier than you make investments 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 until you know what you are doing!

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