Why There Will By No Means Be Another Bitcoin

Why There Will By No Means Be Another Bitcoin

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 were, they've had a profound effect on the world. They no doubt 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. 1000's of other crypto coins have come alongside since all attempting 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 don't know why then let me explain.

When you do not know what Bitcoin is I am going to just offer you just a few transient key points:

Bitcoin Is An Online Cryptocurrency
It Has a Most Supply of 21 Million
It Can't Be Solid
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 Cash
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every four Years
What Makes Bitcoin Completely different?
So what makes Bitcoin totally 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 how the price would improve attributable to it's fixed provide, it started to grow faster.

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

Developers can upgrade and improve the Bitcoin network however this needs to be achieved my consensus all through the whole Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are thousands of other cryptocurrencies available now but for instance of what makes Bitcoin totally different I am going to 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 final say on any development that happens on Ethereum.

Censorship And Government 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 superb situation however it's alleged to show you ways your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the standard banking system and transferring this cash 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.

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