Why There Will Never Be One Other Bitcoin

Why There Will Never Be One Other Bitcoin

Well, it's been a crazy 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 profound effect on the world. They no doubt 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 making an attempt 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. If you do not know why then let me explain.

If you do not know what Bitcoin is I am going to just offer you a number of transient key factors:

Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Cannot Be Forged
Not All Coins Are in Circulation But
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 different to all the thousands of different coins which have been invented since?

When Bitcoin was first invented it began to spread slowly amongst a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and how the worth would enhance due to it's fixed supply, it started to develop faster.

The Bitcoin blockchain is now spread across hundreds of thousands of laptop everywhere in the world. It has spread beyond the management of any government. It's creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network however this must be done my consensus throughout the whole Bitcoin network. Nobody single individual can management Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.

There are thousands of other cryptocurrencies available now but as an example of what makes Bitcoin totally different I will use Ethereum as example. It's a one of the 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 is just not a very good situation however it's purported to show you ways your money is safer in Bitcoin!

Anyway.. first example. Iran is using the standard banking system and transferring this money to North Korea in USD. The US authorities say hang 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 identical thing occurs once more but this time Iran use the Ethereum blockchain to send 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 truly 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, however it's true for every different cryptocurrency.

Bitcoin Can't Be Stopped

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

There isn't abody to call. There isn't abody to put pressure on. The Bitcoin is past censorship.

Every other cryptocurrency out there was created by someone or some company and that will always be the purpose of failure. They're still centralized.

One other instance could be if Vitalik's family have been taken hostage.. Bitcoin is past any of this and that's the reason it's the safest investment on the planet.

Study How one can Use Bitcoin

Everybody ought to own some Bitcoin. It's not without it's harmful though. For those who're new to Bitcoin then you must be taught as much a lot as you may earlier than you invest any money. Owning Bitcoin comes with a whole lot of responsabilty. Learn how to use Bitcoin safely.

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