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 had been, they've had a profound effect on the world. They little doubt predicted that which is why they selected to disappear from the limelight.

So over a decade later Bitcoin is still 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 will continue to fail. Bitcoin is one a kind. Something that may't be replicated. Should you do not know why then let me explain.

Should you don't know what Bitcoin is I will just provide you with a couple of brief key factors:

Bitcoin Is An Online Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Cast

Not All Coins Are in Circulation Yet

It Is Totally Decentralized Without Anybody Controlling It

It Can't Be Censored

It is Peer to Peer Cash

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 1000's of different coins which have been invented since?

When Bitcoin was first invented it began to spread slowly amongst a small group of people. It grew organically. When people started to see the benefits of Bitcoin and the way the worth would increase attributable to it's fixed supply, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of laptop all over 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 has to be carried out my consensus throughout the entire Bitcoin network. Nobody single individual can management Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are thousands of other cryptocurrencies available now however as an example of what makes Bitcoin completely different I will use Ethereum as example. It's 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 just isn't a very good situation however it's imagined to show you how your cash 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 cling on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do that straight away and the problem is over.

Second example. The identical thing occurs again 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 they make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has truly been rolled back before when a hacker stole a significant amount of funds).

Problem solved. Sadly Ethererum's credibility can be ruined along with it's price.

Ethereum is just an example, but it's true for every other cryptocurrency.

Bitcoin Can't Be Stopped

So the identical thing happens again. This time Iran use Bitcoin as their payment method. The US Government see this and are powerless to stop it.

There is nobody to call. There isn't anybody to place pressure on. The Bitcoin is past censorship.

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

Another instance could be if Vitalik's household have been taken hostage.. Bitcoin is beyond any of this and that is why it's the safest funding on the planet.

Study Methods to Use Bitcoin

Everyone ought to own some Bitcoin. It isn't without it's harmful though. If you happen to're new to Bitcoin then you should be taught as a lot much as you possibly can earlier than you invest any money. Owning Bitcoin comes with a whole lot of responsabilty. Learn how to use Bitcoin safely.

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

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