Why There Will Never Be Another Bitcoin – Roebert

Why There Will Never Be Another Bitcoin

Well, it’s been a loopy 10 years for Bitcoin. Truly it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they have been, they’ve had a prodiscovered impact on the world. They little question 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. Hundreds of different crypto coins have come alongside since all attempting 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. If you do not know why then let me explain.

When you don’t know what Bitcoin is I will just provide you with a number of brief key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Forged

Not All Cash Are in Circulation Yet

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 Every four Years

What Makes Bitcoin Totally 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 amongst a small group of people. It grew organically. When individuals started to see the benefits of Bitcoin and the way the value would increase as a consequence of it’s fixed provide, it started to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of hundreds of computer all around the world. It has spread past the control 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 finished my consensus all through the whole Bitcoin network. Nobody single particular person can management Bitcoin. This is what makes Bitcoin distinctive and inconceivable to replicate.

There are thousands of other cryptocurrencies available now but for example of what makes Bitcoin completely 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 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 is not an excellent situation however it’s alleged to show you how 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 government say hang on a minute, we have to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.

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

“Get Vitalik Buterin in Here NOW”

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

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

Ethereum is just an instance, but it’s true for every other cryptocurrency.

Bitcoin Can’t Be Stopped

So the same 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 past censorship.

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

Another instance can be if Vitalik’s family have been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest investment on the planet.

Study How one can Use Bitcoin

Everybody ought to own some Bitcoin. It’s not without it’s harmful though. In the event you’re new to Bitcoin then you must learn as much a lot as you possibly can earlier than you make investments any money. Owning Bitcoin comes with a variety of responsabilty. Discover ways to use Bitcoin safely.

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

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