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 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. Thousands of different crypto coins have come alongside since all attempting 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. In the event you do not know why then let me explain.

In the event you do not know what Bitcoin is I’ll just give you a few temporary key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Cast

Not All Cash Are in Circulation But

It Is Totally Decentralized Without Anybody Controlling It

It Can’t Be Censored

It’s Peer to Peer Cash

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every four 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 began 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 attributable to it’s fixed provide, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of pc all over the world. It has spread past the control of any government. It is creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network but this has to be finished my consensus throughout the whole Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.

There are millions of other cryptocurrencies available now but as an example of what makes Bitcoin 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 example let’s imagine that Iran is sending billions of dollars to North Korea to fund their new nuclear weapons program. This isn’t a very good situation however it’s alleged to show you how your cash 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 happens again however this time Iran use the Ethereum blockchain to send the money to North Korea. The US government 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 they usually 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 quantity of funds).

Problem solved. Sadly Ethererum’s credibility can be ruined along with it’s price.

Ethereum is just an instance, but it’s true for every 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 is nobody to call. There isn’t abody to place pressure on. The Bitcoin is past censorship.

Every different cryptocurrency out there has been created by somebody or some firm and that will always be the point of failure. They’re still centralized.

One other example would be if Vitalik’s family have been taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest investment on the planet.

Study Learn how to Use Bitcoin

Everybody should own some Bitcoin. It isn’t without it’s dangerous though. In case you’re new to Bitcoin then it is best to study as a lot much as you’ll be able to earlier than you invest any money. Owning Bitcoin comes with a lot of responsabilty. Learn to use Bitcoin safely.

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

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