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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 were, they've had a profound impact on the world. They no doubt 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. 1000's of other crypto coins have come alongside since all making an attempt to imitate the king of Crypto. All have failed and will proceed to fail. Bitcoin is one a kind. Something that can't be replicated. In the event you do not know why then let me explain.

If you do not know what Bitcoin is I am going to just give you just a few temporary key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Most Supply of 21 Million

It Cannot Be Solid

Not All Cash Are in Circulation Yet

It Is Absolutely Decentralized Without Anybody Controlling It

It Cannot Be Censored

It's Peer to Peer Money

Anyone Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Completely different?

So what makes Bitcoin totally different to all the thousands of other 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 people started to see the benefits of Bitcoin and the way the worth would increase as a result of it's fixed provide, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of 1000's of pc all around the world. It has spread beyond the control of any government. It is creator has vanished and now it runs autonomously.

Builders can upgrade and improve the Bitcoin network however this has to be achieved my consensus all through the whole Bitcoin network. Nobody single particular person can management Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.

There are literally thousands of other cryptocurrencies available now however for instance of what makes Bitcoin different I am going to use Ethereum as example. It is a one of many 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 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 is not an excellent situation however it's supposed to show you how your money 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 grasp 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 happens once more 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.

"Get Vitalik Buterin in Right here NOW"

The US authorities "places some pressure" on Vitalik they usually make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has really been rolled back before when a hacker stole a significant quantity of funds).

Problem solved. Unfortunately Ethererum's credibility can be ruined alongside with it's price.

Ethereum is just an instance, but it's true for each other cryptocurrency.

Bitcoin Can't Be Stopped

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

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

Each different cryptocurrency out there has been created by somebody or some firm and that will always be the purpose of failure. They're still centralized.

One other example can be if Vitalik's household had been taken hostage.. Bitcoin is past any of this and that is why it's the safest investment on the planet.

Be taught How to Use Bitcoin

Everyone ought to own some Bitcoin. It is not without it's harmful though. If you're new to Bitcoin then it is best to learn as much a lot as you'll be able to before you invest any money. Owning Bitcoin comes with plenty of responsabilty. Discover ways to use Bitcoin safely.

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

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