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Why There Will Never Be One other Bitcoin
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 impact on the world. They little question 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 different crypto coins have come along since all trying to imitate the king of Crypto. All have failed and will continue to fail. Bitcoin is one a kind. Something that can't be replicated. Should you don't know why then let me explain.
When you do not know what Bitcoin is I will just give you a couple of temporary key points:
Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Can't Be Cast
Not All Coins Are in Circulation Yet
It Is Fully Decentralized Without Anybody Controlling It
It Can't Be Censored
It's Peer to Peer Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every four Years
What Makes Bitcoin Completely different?
So what makes Bitcoin totally different to all of the 1000's of other 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 improve as a result of it's fixed supply, it started to grow faster.
The Bitcoin blockchain is now spread across hundreds of thousands of pc all over the world. It has spread past the control of any government. It is 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. No one single individual can management Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.
There are thousands of different cryptocurrencies available now but for instance of what makes Bitcoin different I'll use Ethereum as example. It's a one of many 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 happens on Ethereum.
Censorship And Government 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 great 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 cash to North Korea in USD. The US government say hold on a minute, we need to freeze these transactions and confiscate the money.. Easy. They try this straight away and the problem is over.
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