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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 had been, they've had a prodiscovered effect 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. Thousands of different crypto coins have come alongside since all attempting 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. For those who do not know why then let me explain.

If you do not know what Bitcoin is I am going to just offer you a couple of transient key points:

Bitcoin Is An On-line Cryptocurrency

It Has a Maximum Supply of 21 Million

It Cannot Be Cast

Not All Coins Are in Circulation But

It Is Totally 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 of the 1000's of other 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 value would enhance as a result of it's fixed provide, it started to develop faster.

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

Builders can upgrade and improve the Bitcoin network but this needs to be achieved my consensus throughout the entire Bitcoin network. Nobody single person can management Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are thousands of other cryptocurrencies available now however for example of what makes Bitcoin totally different I am going to 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 ultimate say on any development that occurs on Ethereum.

Censorship And Government 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 is not a good situation but it's imagined 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 dangle on a minute, we have 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 "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 earlier than when a hacker stole a significant quantity of funds).

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

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

Bitcoin Cannot Be Stopped

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

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

Every different cryptocurrency out there has been created by somebody or some company and that will always be the purpose of failure. They are still centralized.

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

Be taught The way to Use Bitcoin

Everybody should own some Bitcoin. It is not without it's harmful though. If you're new to Bitcoin then it is best to study as a lot much as you possibly can earlier than you make investments any money. Owning Bitcoin comes with a number of responsabilty. Learn how to use Bitcoin safely.

For individuals just getting into the world of cryptocurrencies there are many hidden dangers. Don't part with your hard earned cash till you know what you're doing!

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