@shanefarias
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Why There Will Never Be Another Bitcoin
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 no doubt 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. Hundreds of other crypto coins have come alongside since all trying 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. In case you do not know why then let me explain.
When you do not know what Bitcoin is I will just give you a few brief key points:
Bitcoin Is An Online Cryptocurrency
It Has a Maximum 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 1000's of different coins which have been invented since?
When Bitcoin was first invented it began to spread slowly among a small group of people. It grew organically. When people started to see the benefits of Bitcoin and how the worth would enhance on account of it's fixed provide, it started to develop faster.
The Bitcoin blockchain is now spread throughout hundreds of 1000's of computer all over the world. It has spread beyond the control of any government. It is creator has vanished and now it runs autonomously.
Developers can upgrade and improve the Bitcoin network however this has to be achieved my consensus all through the whole Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.
There are millions of different cryptocurrencies available now but for instance of what makes Bitcoin different I will use Ethereum as example. It is 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 ultimate 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 just isn't a superb situation but it's presupposed to show you the way your money 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 grasp on a minute, we need 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 once more however this time Iran use the Ethereum blockchain to send the money 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 they usually make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has actually been rolled back earlier than when a hacker stole a significant amount of funds).
Problem solved. Unfortunately Ethererum's credibility would be ruined along with it's price.
Ethereum is just an instance, however it's true for every different cryptocurrency.
Bitcoin Cannot Be Stopped
So the same thing happens again. This time Iran use Bitcoin as their payment method. The US Government see this and are energyless to stop it.
There is no such thing as abody to call. There is nobody to place pressure on. The Bitcoin is past censorship.
Every other cryptocurrency out there was created by somebody or some company and that will always be the purpose of failure. They are still centralized.
One other example can be if Vitalik's household have been taken hostage.. Bitcoin is past any of this and that is why it's the safest funding on the planet.
Be taught The right way to Use Bitcoin
Everyone ought to own some Bitcoin. It isn't without it's dangerous though. Should you're new to Bitcoin then you should learn as a lot a lot as you can earlier than you make investments any money. Owning Bitcoin comes with a variety of responsabilty. Discover ways to use Bitcoin safely.
For people just coming into the world of cryptocurrencies there are lots of hidden dangers. Do not part with your hard earned cash till you know what you are doing!
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