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Well, it’s been a loopy 10 years for Bitcoin. Really 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 little 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 other crypto coins have come along since all making an attempt 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. If you happen to do not know why then let me explain.

In case you do not know what Bitcoin is I’ll just give you a couple of brief key factors:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Cast

Not All Coins 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 4 Years

What Makes Bitcoin Completely different?

So what makes Bitcoin totally 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 folks started to see the benefits of Bitcoin and how the worth would increase on account of it’s fixed provide, it began to grow faster.

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

Builders can upgrade and improve the Bitcoin network but this has to be done my consensus all through the whole Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are literally thousands of other cryptocurrencies available now however as an example of what makes Bitcoin 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 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 is just not a great situation but it’s alleged to show you how your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the usual banking system and transferring this cash to North Korea in USD. The US government say hang 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 same thing occurs once more however this time Iran use the Ethereum blockchain to send 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 they usually 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. Unfortunately Ethererum’s credibility would be ruined alongside with it’s price.

Ethereum is just an instance, but it’s true for each other 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 powerless to stop it.

There is no such thing as abody to call. There isn’t anybody to place pressure on. The Bitcoin is beyond censorship.

Every other cryptocurrency out there has been created by someone or some company and that will always be the purpose of failure. They are still centralized.

One other instance could be if Vitalik’s family were taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest funding on the planet.

Study Tips on how to Use Bitcoin

Everyone ought to own some Bitcoin. It’s not without it’s dangerous though. Should you’re new to Bitcoin then it’s best to be taught as a lot much as you’ll be able to before you invest any money. Owning Bitcoin comes with quite a lot of responsabilty. Learn how to use Bitcoin safely.

For people just coming 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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