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 had been, they've had a profound 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. Thousands of different 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. For those who don't know why then let me explain.
If you happen to do not know what Bitcoin is I am going to just offer you a number of transient key factors:
Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Can't Be Cast
Not All Coins Are in Circulation Yet
It Is Fully Decentralized Without Anybody Controlling It
It Cannot Be Censored
It's Peer to Peer Cash
Anyone 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 hundreds of other 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 the way the value would improve as a consequence of it's fixed provide, it began to develop faster.
The Bitcoin blockchain is now spread throughout hundreds of 1000's of laptop all over the world. It has spread beyond the control of any government. It's creator has vanished and now it runs autonomously.
Developers can upgrade and improve the Bitcoin network but this must be performed my consensus all through the entire Bitcoin network. Nobody single person can control Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.
There are thousands of different cryptocurrencies available now however as an example of what makes Bitcoin 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 final say on any development that happens 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 just isn't a good situation but it's supposed to show you the way your cash 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 government say grasp on a minute, we have 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 however this time Iran use the Ethereum blockchain to ship the money to North Korea. The US authorities are see what is happening. A phone call is made.
"Get Vitalik Buterin in Here NOW"
The US government "puts 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 can be ruined alongside with it's price.
Ethereum is just an instance, however it's true for each different cryptocurrency.
Bitcoin Cannot 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 is no such thing as abody to call. There is nobody to place pressure on. The Bitcoin is past censorship.
Each different cryptocurrency out there was created by somebody or some firm and that will always be the point of failure. They are still centralized.
One other instance 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
Everyone ought to own some Bitcoin. It isn't without it's dangerous though. In case you're new to Bitcoin then you need to study as much a lot as you possibly can before you invest any money. Owning Bitcoin comes with lots of responsabilty. Learn how to use Bitcoin safely.
For people just getting into the world of cryptocurrencies there are many hidden dangers. Don't part with your hard earned money till you know what you are doing!
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