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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 profound effect on the world. They no doubt predicted that which is why they chose to vanish from the limelight.

So over a decade later Bitcoin is still alive and stronger than ever. 1000’s of other 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. When you do not know why then let me explain.

In the event you don’t know what Bitcoin is I’ll just give you just a few temporary key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Solid

Not All Cash Are in Circulation Yet

It Is Absolutely 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 four Years

What Makes Bitcoin Totally different?

So what makes Bitcoin completely different to all of the thousands 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 increase resulting from it’s fixed supply, it started to develop faster.

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

Developers can upgrade and improve the Bitcoin network but this needs to be done my consensus throughout the entire Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin unique and impossible to replicate.

There are millions of different cryptocurrencies available now but for example of what makes Bitcoin totally different I’ll use Ethereum as example. It’s a one of many 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 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 shouldn’t be an excellent situation however it’s speculated 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 hold on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do that straight away and the problem is over.

Second example. The same thing occurs once more however this time Iran use the Ethereum blockchain to ship the money to North Korea. The US government are see what is happening. A phone call is made.

“Get Vitalik Buterin in Here NOW”

The US government “places some pressure” on Vitalik and they 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 could 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 same thing happens again. This time Iran use Bitcoin as their payment method. The US Government see this and are energyless to stop it.

There is nobody to call. There is nobody to put pressure on. The Bitcoin is past censorship.

Each other cryptocurrency out there has been created by someone or some firm and that will always be the point of failure. They’re still centralized.

Another instance would be if Vitalik’s household were taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest funding on the planet.

Be taught How one can Use Bitcoin

Everybody ought to own some Bitcoin. It is not without it’s harmful though. For those who’re new to Bitcoin then you should be taught as much a lot as you may earlier than you make investments any money. Owning Bitcoin comes with a lot of responsabilty. Discover ways to use Bitcoin safely.

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

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