Well, it’s been a crazy 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 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. 1000’s of different crypto coins have come alongside since all trying 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 case you do not know why then let me explain.

When you don’t know what Bitcoin is I will just provide you with a couple of transient key points:

Bitcoin Is An Online Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot 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 Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each four Years

What Makes Bitcoin Different?

So what makes Bitcoin totally different to all the hundreds of different 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 how the value would enhance as a consequence of it’s fixed supply, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of computer everywhere in the world. It has spread past the control of any government. It’s creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network however this has to be finished my consensus all through the entire Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.

There are thousands of different cryptocurrencies available now but 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 happens on Ethereum.

Censorship And Government 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 is not a good situation however it’s alleged to show you the way 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 grasp 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 happens again but this time Iran use the Ethereum blockchain to ship the money to North Korea. The US authorities are see what’s happening. A phone call is made.

“Get Vitalik Buterin in Right here NOW”

The US authorities “places some pressure” on Vitalik they usually 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 amount of funds).

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

Ethereum is just an instance, 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 Authorities see this and are powerless to stop it.

There is no such thing as abody to call. There is no such thing as abody to put pressure on. The Bitcoin is past censorship.

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

One other instance can be if Vitalik’s household have been taken hostage.. Bitcoin is past any of this and that is why it’s the safest funding on the planet.

Be taught The way to Use Bitcoin

Everybody should own some Bitcoin. It’s not without it’s dangerous though. For those who’re new to Bitcoin then it’s best to be taught as much much as you possibly can before you make investments any money. Owning Bitcoin comes with numerous responsabilty. Discover ways to use Bitcoin safely.

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

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