Why There Will By no means Be One other 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 have been, they’ve had a profound impact 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 along since all attempting to imitate the king of Crypto. All have failed and will proceed to fail. Bitcoin is one a kind. Something that can’t be replicated. Should you don’t know why then let me explain.

If you don’t know what Bitcoin is I will just offer you a few transient key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Forged

Not All Coins Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Cash

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every 4 Years

What Makes Bitcoin Totally different?

So what makes Bitcoin different to all the 1000’s 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 value would improve attributable to it’s fixed supply, it started to grow faster.

The Bitcoin blockchain is now spread across hundreds of 1000’s of computer all around the world. It has spread past the management of any government. It’s creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network however this needs to be carried out my consensus throughout the whole Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin unique and not possible to replicate.

There are millions of other cryptocurrencies available now however as an example of what makes Bitcoin totally different I am going to use Ethereum as example. It is 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 an excellent situation however it’s purported to show you ways your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this cash to North Korea in USD. The US government say hold on a minute, we need to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.

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