Well, it’s been a loopy 10 years for Bitcoin. Actually 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 no doubt predicted that which is why they selected to disappear from the limelight.

So over a decade later Bitcoin is still alive and stronger than ever. Thousands of other crypto coins have come along since all attempting 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.

When you don’t know what Bitcoin is I’ll just offer you a number of transient key points:

Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Cast
Not All Coins 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 4 Years
What Makes Bitcoin Completely different?
So what makes Bitcoin different to all the 1000’s of different coins which have been invented since?

When Bitcoin was first invented it started to spread slowly among a small group of people. It grew organically. When people started to see the benefits of Bitcoin and how the worth would increase attributable to it’s fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread across hundreds of hundreds of pc everywhere in the world. It has spread past the management of any government. It is creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network but this must be accomplished my consensus all through the entire Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin distinctive and impossible to replicate.

There are literally thousands of different cryptocurrencies available now but for example 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 final say on any development that occurs on Ethereum.

Censorship And Authorities 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 isn’t a good situation but it’s presupposed to show you how 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 dangle on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

Second example. The identical 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 Here NOW”

The US government “places 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 amount of funds).

Problem solved. Sadly Ethererum’s credibility would be ruined alongside with it’s price.

Ethereum is just an instance, however it’s true for each different 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 isn’t abody to call. There isn’t anybody to put pressure on. The Bitcoin is past censorship.

Each other 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 instance 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.

Learn How one can Use Bitcoin

Everybody should own some Bitcoin. It is not without it’s harmful though. In case you’re new to Bitcoin then you need to study as a lot much as you can before you invest any money. Owning Bitcoin comes with lots of responsabilty. Learn to use Bitcoin safely.

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

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