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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 question 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 making an attempt to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that can’t be replicated. For those who do not know why then let me explain.

When you do not know what Bitcoin is I will just provide you with a couple of temporary key points:

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 Fully Decentralized Without Anybody Controlling It

It Can’t Be Censored

It’s Peer to Peer Cash

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Every 4 Years

What Makes Bitcoin Totally different?

So what makes Bitcoin different to all the hundreds of different coins which have been invented since?

When Bitcoin was first invented it began to spread slowly amongst a small group of people. It grew organically. When people started to see the benefits of Bitcoin and the way the price would improve as a result of it’s fixed provide, it started to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of computer all around the world. It has spread beyond 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 done my consensus throughout the whole Bitcoin network. Nobody single person can control Bitcoin. This is what makes Bitcoin unique and not possible to replicate.

There are literally thousands of different cryptocurrencies available now but as an example of what makes Bitcoin different I will use Ethereum as example. It’s a one of many biggest Alt coins proper 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 not a very good situation however it’s purported 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 authorities say hang on a minute, we need to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.

Second example. The same thing occurs again however this time Iran use the Ethereum blockchain to ship the cash to North Korea. The US authorities are see what’s happening. A phone call is made.

“Get Vitalik Buterin in Right here NOW”

The US government “puts some pressure” on Vitalik and so they make him roll back the blockchain and cancel Iran’s transactions. (The Ethereum blockchain has really been rolled back before when a hacker stole a significant amount of funds).

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

Ethereum is just an instance, however it’s true for each different cryptocurrency.

Bitcoin Cannot Be Stopped

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

There is nobody to call. There is nobody to place pressure on. The Bitcoin is beyond censorship.

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

One other instance would be if Vitalik’s household had been taken hostage.. Bitcoin is beyond any of this and that is why it’s the safest funding on the planet.

Study How one can Use Bitcoin

Everyone should own some Bitcoin. It isn’t without it’s dangerous though. For those who’re new to Bitcoin then you must study as a lot a lot as you can earlier than you make investments any money. Owning Bitcoin comes with numerous responsabilty. Learn 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 money until you know what you’re doing!

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