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 have been, they've had a profound 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 along since all trying 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 do not know why then let me explain.

When you do not know what Bitcoin is I'll just offer you a few brief key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Forged

Not All Cash Are in Circulation But

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It is Peer to Peer Money

Anyone 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 of the hundreds 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 worth would enhance on account of it's fixed provide, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of computer everywhere in 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 has to be completed my consensus throughout the entire Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin unique and impossible to replicate.

There are literally thousands of different cryptocurrencies available now however as an example of what makes Bitcoin totally different I'll 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 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 is just not an excellent situation but it's presupposed to show you the way your cash is safer in Bitcoin!

Anyway.. first example. Iran is using the usual banking system and transferring this money to North Korea in USD. The US government say dangle 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 occurs once more but this time Iran use the Ethereum blockchain to ship the money to North Korea. The US government are see what's happening. A phone call is made.

"Get Vitalik Buterin in Here NOW"

The US authorities "puts some pressure" on Vitalik and so they 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, but it's true for each 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 isn't abody to call. There isn't abody to place pressure on. The Bitcoin is past censorship.

Each other cryptocurrency out there has been created by someone or some firm and that will always be the point of failure. They are still centralized.

Another example could be if Vitalik's family were taken hostage.. Bitcoin is beyond any of this and that is why it's the safest funding on the planet.

Study Tips on how to Use Bitcoin

Everyone ought to own some Bitcoin. It's not without it's harmful though. If you happen to're new to Bitcoin then it is best to study as a lot much as you possibly can earlier than you make investments any money. Owning Bitcoin comes with quite a lot of responsabilty. Learn to use Bitcoin safely.

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

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