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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 have 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. Hundreds of different crypto coins have come along since all making an attempt 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. If you happen to do not know why then let me explain.

In the event you do not know what Bitcoin is I will just give you a couple of brief key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Forged

Not All Cash Are in Circulation But

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It’s Peer to Peer Money

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 of the 1000’s of different 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 how the worth would improve due to it’s fixed supply, it began to develop faster.

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

Builders can upgrade and improve the Bitcoin network however this needs to be done my consensus throughout the whole Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are literally thousands of different cryptocurrencies available now but for instance of what makes Bitcoin different I’ll use Ethereum as example. It is a one of many biggest Alt coins proper 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 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 very good situation however it’s speculated to show you the way 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 cling on a minute, we have to freeze these transactions and confiscate the money.. Easy. They do that straight away and the problem is over.

Second example. The same thing happens again but this time Iran use the Ethereum blockchain to ship the cash to North Korea. The US government are see what’s happening. A phone call is made.

“Get Vitalik Buterin in Right here NOW”

The US authorities “puts some pressure” on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has really 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, but 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 Government see this and are energyless to stop it.

There isn’t abody to call. There isn’t anybody to put pressure on. The Bitcoin is beyond censorship.

Every other cryptocurrency out there was created by someone or some firm and that will always be the point of failure. They are still centralized.

One other instance could be if Vitalik’s household had been taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest investment on the planet.

Study The right way to Use Bitcoin

Everybody should own some Bitcoin. It’s not without it’s dangerous though. Should you’re new to Bitcoin then you must study as a lot a lot as you possibly can before you make investments any money. Owning Bitcoin comes with a number of responsabilty. Learn to use Bitcoin safely.

For individuals just getting into the world of cryptocurrencies there are many hidden dangers. Don’t part with your hard earned cash till you know what you’re doing!

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