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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 have been, they’ve had a profound impact on the world. They little doubt 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. 1000’s of different 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 may’t be replicated. In case you do not know why then let me explain.

If you happen to don’t know what Bitcoin is I will just offer you a couple of transient key points:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Solid

Not All Cash Are in Circulation But

It Is Totally Decentralized Without Anybody Controlling It

It Can’t Be Censored

It is 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 completely different to all the thousands of different 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 individuals started to see the benefits of Bitcoin and the way the value would increase due to it’s fixed supply, it began to grow faster.

The Bitcoin blockchain is now spread across hundreds of thousands of laptop everywhere in the world. It has spread beyond the management of any government. It is creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network however this needs to be carried out my consensus all through the whole Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.

There are thousands of other cryptocurrencies available now however for example of what makes Bitcoin completely different I am going to use Ethereum as example. It is 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 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 just isn’t a great situation however it’s imagined to show you the way your cash is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the usual banking system and transferring this cash to North Korea in USD. The US government say grasp on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

Second example. The identical thing occurs again but this time Iran use the Ethereum blockchain to send the money 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 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 before when a hacker stole a significant amount of funds).

Problem solved. Unfortunately Ethererum’s credibility could be ruined alongside with it’s price.

Ethereum is just an example, however it’s true for every different cryptocurrency.

Bitcoin Cannot Be Stopped

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

There isn’t anybody to call. There is nobody to put pressure on. The Bitcoin is beyond censorship.

Each different cryptocurrency out there was created by somebody or some company and that will always be the purpose of failure. They are still centralized.

One other example can be if Vitalik’s household have been taken hostage.. Bitcoin is past any of this and that’s the reason it’s the safest investment on the planet.

Study How to Use Bitcoin

Everyone ought to own some Bitcoin. It isn’t without it’s harmful though. Should you’re new to Bitcoin then you must learn as a lot a lot as you possibly can before you invest any money. Owning Bitcoin comes with lots of responsabilty. Discover ways to use Bitcoin safely.

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

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