Write About Everything

Well, it’s been a crazy 10 years for Bitcoin. Actually it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they had been, they’ve had a profound effect on the world. They no 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 trying 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. Should you don’t know why then let me explain.

For those who do not know what Bitcoin is I’ll just offer you a couple of temporary key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Can’t Be Forged

Not All Coins Are in Circulation But

It Is Absolutely 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 Totally different?

So what makes Bitcoin totally different to all the 1000’s of different coins which have been invented since?

When Bitcoin was first invented it started to spread slowly amongst a small group of people. It grew organically. When individuals started to see the benefits of Bitcoin and the way the worth would increase as a consequence of it’s fixed provide, it started to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of laptop everywhere in the world. It has spread past the control of any government. It’s creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network but this must be accomplished my consensus all through the entire Bitcoin network. Nobody single individual can control Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are literally thousands of different cryptocurrencies available now but for instance 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 final say on any development that occurs on Ethereum.

Censorship And Authorities Interference

For this example 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 good situation however it’s imagined to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this money 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 that straight away and the problem is over.

Second example. The same thing happens again however 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 authorities “puts 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 quantity of funds).

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

Ethereum is just an example, 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 isn’t anybody to call. There is no such thing as abody to put pressure on. The Bitcoin is beyond censorship.

Every different cryptocurrency out there was created by somebody or some company and that will always be the point of failure. They’re still centralized.

One other example would be if Vitalik’s household were taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest investment on the planet.

Be taught The right way to Use Bitcoin

Everyone ought to own some Bitcoin. It is not without it’s dangerous though. When you’re new to Bitcoin then it’s best to learn as a lot much as you possibly can earlier than you make investments any money. Owning Bitcoin comes with a number of responsabilty. Discover ways to use Bitcoin safely.

If you enjoyed this article and you would such as to receive more details relating to https://bitcoinprime.pro/ kindly browse through our internet site.