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Why There Will Never Be One other Bitcoin
Well, it's been a loopy 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 profound impact on the world. They no doubt predicted that which is why they selected 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 along since all making an attempt to imitate the king of Crypto. All have failed and can 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.
For those who do not know what Bitcoin is I will just provide you with a few brief key factors:
Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't Be Solid
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 Each four Years
What Makes Bitcoin Totally 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 started to spread slowly among a small group of people. It grew organically. When people started to see the benefits of Bitcoin and the way the price would increase resulting from it's fixed provide, it started to grow faster.
The Bitcoin blockchain is now spread across hundreds of hundreds of laptop 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 however this needs to be completed my consensus throughout the entire Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin unique and unattainable to replicate.
There are millions of other cryptocurrencies available now but as an example of what makes Bitcoin completely different I'll use Ethereum as example. It's a one of the 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 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 isn't a superb situation but it's imagined 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 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 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.
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