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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 question 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 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 do not know why then let me explain.

If you do not know what Bitcoin is I will just provide you with a couple of brief key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Forged

Not All Coins Are in Circulation But

It Is Totally 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 four Years

What Makes Bitcoin Completely different?

So what makes Bitcoin different to all of the hundreds of other 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 people started to see the benefits of Bitcoin and the way the worth would improve as a consequence of it’s fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of computer all around the world. It has spread past the control of any government. It is creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network however this must be executed my consensus throughout the whole Bitcoin network. No one single person can management Bitcoin. This is what makes Bitcoin unique and unimaginable to replicate.

There are thousands of other cryptocurrencies available now but as an example of what makes Bitcoin completely different I’ll use Ethereum as example. It’s a one of the 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 ultimate 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 isn’t a very good situation however it’s imagined to show you the way your money is safer in Bitcoin!

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

Second example. The same thing happens again but this time Iran use the Ethereum blockchain to send the cash to North Korea. The US government are see what is happening. A phone call is made.

“Get Vitalik Buterin in 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 before when a hacker stole a significant quantity of funds).

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

Ethereum is just an instance, but it’s true for each 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 is no such thing as abody to call. There is nobody to put 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 example could be if Vitalik’s household were taken hostage.. Bitcoin is past any of this and that is why it’s the safest funding on the planet.

Learn Find out how to Use Bitcoin

Everybody ought to own some Bitcoin. It is not without it’s harmful though. For those who’re new to Bitcoin then you must study as a lot a lot as you possibly can before you make investments any money. Owning Bitcoin comes with numerous responsabilty. Discover ways to use Bitcoin safely.

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

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