Well, it’s been a crazy 10 years for Bitcoin. Actually it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they were, they’ve had a profound 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 is still alive and stronger than ever. 1000’s of other 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 case you do not know why then let me explain.
In case you do not know what Bitcoin is I will just offer you a couple of transient key points:
Bitcoin Is An Online Cryptocurrency
It Has a Maximum Supply of 21 Million
It Cannot Be Solid
Not All Cash Are in Circulation Yet
It Is Fully Decentralized Without Anybody Controlling It
It Can’t Be Censored
It is 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 completely different to all of 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 folks started to see the benefits of Bitcoin and the way the value would increase as a consequence of it’s fixed supply, it began to grow faster.
The Bitcoin blockchain is now spread across hundreds of 1000’s 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.
Builders can upgrade and improve the Bitcoin network but this must be accomplished my consensus all through the entire Bitcoin network. No one single person can control Bitcoin. This is what makes Bitcoin unique and impossible to replicate.
There are millions of different cryptocurrencies available now but for example of what makes Bitcoin totally different I am going to 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 example 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 however it’s supposed to show you how your money is safer in Bitcoin!
Anyway.. first example. Iran is utilizing the standard banking system and transferring this cash to North Korea in USD. The US authorities say dangle 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 happens again but this time Iran use the Ethereum blockchain to send the money to North Korea. The US authorities are see what is happening. A phone call is made.
“Get Vitalik Buterin in 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 before when a hacker stole a significant quantity of funds).
Problem solved. Unfortunately Ethererum’s credibility could be ruined along 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 Government see this and are powerless to stop it.
There isn’t abody to call. There is nobody to place pressure on. The Bitcoin is past censorship.
Each other cryptocurrency out there has been created by somebody or some company and that will always be the point of failure. They’re still centralized.
One other example could be if Vitalik’s family had been taken hostage.. Bitcoin is beyond any of this and that’s the reason it’s the safest funding on the planet.
Learn How you can Use Bitcoin
Everybody ought to own some Bitcoin. It isn’t without it’s harmful though. In case you’re new to Bitcoin then you must be taught as much a lot as you’ll be able to earlier than you invest any money. Owning Bitcoin comes with a variety of responsabilty. Learn how to use Bitcoin safely.
For people just entering the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned money till you know what you’re doing!
If you have any issues regarding where and how to use honest crypto avis, you can make contact with us at our web page.
