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Why There Will Never Be One other Bitcoin
Well, it's been a loopy 10 years for Bitcoin. Actually 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 doubt predicted that which is why they chose to disappear from the limelight.
So over a decade later Bitcoin continues to be alive and stronger than ever. Hundreds of different crypto coins have come alongside since all making an attempt to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that may't be replicated. In the event you do not know why then let me explain.
If you do not know what Bitcoin is I will just offer you a couple of temporary key points:
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 is Peer to Peer Money
Anybody 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 among a small group of people. It grew organically. When individuals started to see the benefits of Bitcoin and the way the value would increase because of it's fixed provide, it started to develop faster.
The Bitcoin blockchain is now spread across hundreds of hundreds of computer everywhere in the world. It has spread beyond 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 has to be achieved my consensus throughout the entire Bitcoin network. No one single particular person can management Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.
There are literally thousands of different cryptocurrencies available now however as an example of what makes Bitcoin completely different I'll 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 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 speculated to show you how 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 government say hang on a minute, we need to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.
Second example. The identical thing occurs once more but this time Iran use the Ethereum blockchain to ship the cash to North Korea. The US authorities are see what's happening. A phone call is made.
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