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Why There Will Never Be Another Bitcoin

Why There Will Never Be Another Bitcoin

Well, it's been a loopy 10 years for Bitcoin. Actually 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 question 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. 1000's of other crypto coins have come alongside since all trying 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. If you happen to do not know why then let me explain.

For those who do not know what Bitcoin is I'll just provide you with a couple of brief key factors:

Bitcoin Is An Online Cryptocurrency
It Has a Most 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's Peer to Peer Money
Anyone Can Use It
Bitcoin Has a Fixed Supply Which Decreases Each four Years
What Makes Bitcoin Completely different?
So what makes Bitcoin completely different to all of the hundreds 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 individuals started to see the benefits of Bitcoin and how the price would enhance as a consequence of it's fixed supply, it began to develop faster.

The Bitcoin blockchain is now spread across hundreds of hundreds of pc everywhere in the world. It has spread beyond the control of any government. It is creator has vanished and now it runs autonomously.

Developers can upgrade and improve the Bitcoin network but this has to be performed my consensus all through the whole Bitcoin network. No one single person can management Bitcoin. This is what makes Bitcoin distinctive and inconceivable to replicate.

There are millions of other cryptocurrencies available now however for example of what makes Bitcoin different I'll 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 happens 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 just isn't a good situation however it's presupposed to show you how your money 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 have to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

Second example. The identical thing occurs once more however this time Iran use the Ethereum blockchain to send the cash to North Korea. The US government are see what is happening. A phone call is made.

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