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 have been, they’ve had a prodiscovered 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 other crypto coins have come along 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. If you happen to don’t know why then let me explain.

Should you do not know what Bitcoin is I will just offer you a couple of transient key points:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Forged

Not All Cash Are in Circulation Yet

It Is Totally Decentralized Without Anybody Controlling It

It Can’t Be Censored

It’s 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 completely different to all of the hundreds 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 individuals started to see the benefits of Bitcoin and the way the price would increase resulting from it’s fixed supply, it began to develop faster.

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

Builders can upgrade and improve the Bitcoin network however this has to be done my consensus throughout the whole Bitcoin network. Nobody 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’s a one of the 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 ultimate 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 shouldn’t be a great situation but it’s purported 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 government say dangle 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 send 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 government “places some pressure” on Vitalik and so they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has really been rolled back before when a hacker stole a significant amount of funds).

Problem solved. Sadly Ethererum’s credibility could be ruined along 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 occurs again. This time Iran use Bitcoin as their payment method. The US Authorities see this and are energyless to stop it.

There is nobody to call. There is no such thing as abody to put pressure on. The Bitcoin is beyond censorship.

Every different cryptocurrency out there was 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 household had been taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest funding on the planet.

Be taught How one can Use Bitcoin

Everybody ought to own some Bitcoin. It is not without it’s dangerous though. In the event you’re new to Bitcoin then it is best to learn as a lot much as you may earlier than you invest any money. Owning Bitcoin comes with numerous responsabilty. Learn to use Bitcoin safely.

For folks 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’re doing!

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