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Well, it’s been a crazy 10 years for Bitcoin. Really it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they were, they’ve had a profound impact on the world. They little doubt 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. Thousands of different crypto coins have come alongside since all trying 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. In the event you do not know why then let me explain.

Should you do not know what Bitcoin is I’ll just give you just a few temporary key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Cast

Not All Coins Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Can’t Be Censored

It’s Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Completely different?

So what makes Bitcoin totally different to all the thousands of other 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 folks started to see the benefits of Bitcoin and how the worth would increase as a result of it’s fixed supply, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of laptop 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 executed my consensus all through the whole Bitcoin network. No one single individual can management Bitcoin. This is what makes Bitcoin distinctive and inconceivable to replicate.

There are millions of other cryptocurrencies available now however for instance of what makes Bitcoin completely different I’ll 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 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 a superb situation but it’s presupposed to show you how your cash 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 authorities say hold on a minute, we have to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.

Second example. The same thing happens once more but 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 authorities “places some pressure” on Vitalik and they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has truly been rolled back earlier than when a hacker stole a significant quantity of funds).

Problem solved. Sadly Ethererum’s credibility can be ruined along with it’s price.

Ethereum is just an instance, but it’s true for each other cryptocurrency.

Bitcoin Can’t Be Stopped

So the identical thing happens again. This time Iran use Bitcoin as their payment method. The US Government see this and are powerless to stop it.

There is nobody to call. There is no such thing as abody to put pressure on. The Bitcoin is beyond censorship.

Each different 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 can be if Vitalik’s household have been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest investment on the planet.

Learn The best way to Use Bitcoin

Everybody ought to own some Bitcoin. It is not without it’s dangerous though. When you’re new to Bitcoin then you need to study as a lot a lot as you possibly can earlier than you make investments any money. Owning Bitcoin comes with a variety of responsabilty. Discover ways 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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