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 have been, they've had a prodiscovered effect on the world. They little 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. Thousands of different crypto coins have come alongside since all making an attempt 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. If you don't know why then let me explain.
In the event you do not know what Bitcoin is I am going to just provide you with a couple of transient key factors:
Bitcoin Is An Online Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't Be Cast
Not All Cash Are in Circulation But
It Is Fully Decentralized Without Anybody Controlling It
It Can't Be Censored
It's Peer to Peer Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every 4 Years
What Makes Bitcoin Different?
So what makes Bitcoin different to all of the 1000's 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 how the value would increase because of it's fixed provide, it started to develop faster.
The Bitcoin blockchain is now spread across hundreds of thousands of pc all around the world. It has spread past 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 achieved my consensus throughout the entire Bitcoin network. No one single individual can control Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.
There are thousands of other cryptocurrencies available now however for example of what makes Bitcoin totally different I will use Ethereum as example. It is a one of the 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 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 shouldn't be an excellent situation but it's imagined 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 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 occurs again however this time Iran use the Ethereum blockchain to ship the money to North Korea. The US government are see what is happening. A phone call is made.
"Get Vitalik Buterin in Right here NOW"
The US government "places some pressure" on Vitalik and so they make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has truly been rolled back earlier than when a hacker stole a significant quantity of funds).
Problem solved. Sadly Ethererum's credibility would be ruined alongside with it's price.
Ethereum is just an instance, but it's true for every different 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 energyless to stop it.
There is nobody to call. There is no such thing as abody to put pressure on. The Bitcoin is beyond censorship.
Every different cryptocurrency out there has been created by somebody or some firm and that will always be the purpose of failure. They are still centralized.
Another instance 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.
Be taught The best way to Use Bitcoin
Everybody should own some Bitcoin. It is not without it's dangerous though. For those who're new to Bitcoin then you should learn as a lot much as you can earlier than you make investments any money. Owning Bitcoin comes with a whole lot of responsabilty. Learn how to use Bitcoin safely.
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