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Why There Will By no means Be One other Bitcoin

mckenzie91z - 2 September, 2021 - 0 comments

Well, it’s been a loopy 10 years for Bitcoin. Truly it’s over 10 years since Bitcoin was first created by Satoshi Nakamoto. Whoever, he, she or they had been, they’ve had a prodiscovered effect on the world. They little question predicted that which is why they selected 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 along since all attempting 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. For those who don’t know why then let me explain.

If you do not know what Bitcoin is I am going to just provide you with a number of transient 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 Totally 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 Each 4 Years

What Makes Bitcoin Totally 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 began to spread slowly among a small group of people. It grew organically. When folks started to see the benefits of Bitcoin and the way the price would enhance because of it’s fixed supply, it began to grow faster.

The Bitcoin blockchain is now spread across hundreds of 1000’s of pc all around the world. It has spread past the management of any government. It’s creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network but this needs to be completed my consensus throughout the whole Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.

There are millions of other cryptocurrencies available now but 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 ultimate 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 isn’t a good situation but it’s purported to show you how your cash is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the usual banking system and transferring this money to North Korea in USD. The US government say cling on a minute, we have to freeze these transactions and confiscate the money.. Easy. They do that straight away and the problem is over.

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