Why There Will Never Be Another Bitcoin

Well, it’s been a crazy 10 years for Bitcoin. Actually 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 little question 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 may’t be replicated. When you don’t know why then let me explain.

For those who don’t know what Bitcoin is I am going to just give you a few transient key points:

Bitcoin Is An Online Cryptocurrency

It Has a Most Supply of 21 Million

It Can’t Be Solid

Not All Cash Are in Circulation But

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every four Years

What Makes Bitcoin Totally different?

So what makes Bitcoin completely different to all the hundreds of other 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 the way the price would increase attributable to it’s fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds 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.

Developers can upgrade and improve the Bitcoin network however this must be performed my consensus throughout the whole Bitcoin network. No one single particular person can management Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.

There are millions of different cryptocurrencies available now but for instance of what makes Bitcoin totally different I am going to 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 Government 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 great situation however it’s supposed to show you ways your money 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 grasp 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 however this time Iran use the Ethereum blockchain to ship the cash 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 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 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 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 energyless to stop it.

There isn’t anybody to call. There is no such thing as abody to place 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 point of failure. They are still centralized.

One other example would be if Vitalik’s family were taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest investment on the planet.

Learn The best way to Use Bitcoin

Everybody should own some Bitcoin. It isn’t without it’s harmful though. In the event you’re new to Bitcoin then you must learn as much much as you possibly can before you invest any money. Owning Bitcoin comes with a number of responsabilty. Learn how to use Bitcoin safely.

For individuals just entering the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned money till you know what you are doing!

If you are you looking for more in regards to bitcoin motion website have a look at our web site.