Well, it's been a loopy 10 years for Bitcoin. Truly 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 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. 1000's of other 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 do not know why then let me explain.

In the event you don't know what Bitcoin is I will just provide you with just a few temporary key factors:

Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Cast
Not All Coins Are in Circulation Yet
It Is Absolutely Decentralized Without Anybody Controlling It
It Cannot Be Censored
It is Peer to Peer Cash
Anybody Can Use It
Bitcoin Has a Fixed Supply Which Decreases Every 4 Years
What Makes Bitcoin Totally different?
So what makes Bitcoin different to all the hundreds of other coins which have been invented since?

When Bitcoin was first invented it started 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 value would increase resulting from it's fixed supply, it began to grow faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of pc everywhere in 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 but this needs to be done my consensus all through the whole Bitcoin network. Nobody single particular person can control Bitcoin. This is what makes Bitcoin distinctive and unattainable to replicate.

There are literally thousands of different cryptocurrencies available now however as an example of what makes Bitcoin totally different I will use Ethereum as example. It is 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 ultimate say on any development that happens 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 shouldn't be a good situation however it's imagined to show you ways 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 authorities say hold 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 is 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 really been rolled back earlier than when a hacker stole a significant quantity of funds).

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

Ethereum is just an example, however it's true for each different cryptocurrency.

Bitcoin Can't Be Stopped

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

There isn't anybody to call. There isn't anybody to place pressure on. The Bitcoin is past censorship.

Each other cryptocurrency out there has been created by somebody or some firm and that will always be the point of failure. They are still centralized.

One other example could be if Vitalik's household were taken hostage.. Bitcoin is beyond any of this and that is why it's the safest funding on the planet.

Be taught Learn how to Use Bitcoin

Everyone should own some Bitcoin. It isn't without it's dangerous though. For those who're new to Bitcoin then it is best to learn as a lot much as you can earlier than you make investments any money. Owning Bitcoin comes with a whole lot of responsabilty. Discover ways to use Bitcoin safely.

For individuals just entering the world of cryptocurrencies there are many hidden dangers. Do not part with your hard earned cash till you know what you are doing!

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