Why There Will Never Be Another Bitcoin

Well, it’s been a loopy 10 years for Bitcoin. Truly 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 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 other crypto coins have come alongside 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 may’t be replicated. Should you don’t know why then let me explain.

In the event you don’t know what Bitcoin is I will just give you a few temporary key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Solid

Not All Coins Are in Circulation But

It Is Fully 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 Every 4 Years

What Makes Bitcoin Completely different?

So what makes Bitcoin totally different to all of the hundreds of different 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 individuals started to see the benefits of Bitcoin and how the price would improve because of it’s fixed provide, it started to grow faster.

The Bitcoin blockchain is now spread across hundreds of hundreds of laptop all over the world. It has spread beyond the control of any government. It’s creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network however this has to be carried out my consensus throughout the entire Bitcoin network. Nobody single person can control Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.

There are literally thousands of different cryptocurrencies available now however for instance of what makes Bitcoin different I will use Ethereum as example. It is a one of many 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 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 will not be a superb situation however it’s purported to show you how your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the standard banking system and transferring this cash to North Korea in USD. The US government say hang 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 identical thing happens once more however this time Iran use the Ethereum blockchain to ship the money to North Korea. The US authorities are see what is happening. A phone call is made.

“Get Vitalik Buterin in Here NOW”

The US authorities “places some pressure” on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has really been rolled back earlier than when a hacker stole a significant quantity of funds).

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

Ethereum is just an example, but it’s true for each other cryptocurrency.

Bitcoin Cannot 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 nobody to place pressure on. The Bitcoin is beyond censorship.

Every different cryptocurrency out there has been created by someone or some company and that will always be the purpose of failure. They are still centralized.

One other example would 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 isn’t without it’s harmful though. In case you’re new to Bitcoin then you should study as a lot much as you possibly can before you invest any money. Owning Bitcoin comes with lots of responsabilty. Learn how to use Bitcoin safely.

For folks just coming into the world of cryptocurrencies there are lots of hidden dangers. Don’t part with your hard earned cash till you know what you’re doing!

If you have any inquiries pertaining to in which and how to use bitcoin circuit website, you can speak to us at our site.

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