Well, it's been a crazy 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 prodiscovered impact on the world. They no doubt 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. Hundreds 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. If you happen to don't know why then let me explain.

In case you don't know what Bitcoin is I'll just give you a number of temporary key points:

Bitcoin Is An On-line Cryptocurrency
It Has a Maximum Supply of 21 Million
It Cannot Be Solid
Not All Cash Are in Circulation Yet
It Is Absolutely 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 Each 4 Years
What Makes Bitcoin Different?
So what makes Bitcoin different to all of the thousands of different 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 individuals started to see the benefits of Bitcoin and how the value would increase as a result of it's fixed provide, it started to grow faster.

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

Builders can upgrade and improve the Bitcoin network but this needs to be done my consensus all through the entire Bitcoin network. No one single particular person can management Bitcoin. This is what makes Bitcoin unique and inconceivable to replicate.

There are millions of other cryptocurrencies available now but as an example of what makes Bitcoin completely 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 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 is not a very good situation but it's imagined to show you ways your money is safer in Bitcoin!

Anyway.. first example. Iran is utilizing the standard banking system and transferring this money to North Korea in USD. The US authorities say grasp 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 happens again but this time Iran use the Ethereum blockchain to send the money to North Korea. The US government are see what is happening. A phone call is made.

"Get Vitalik Buterin in Right here NOW"

The US authorities "puts some pressure" on Vitalik and so they 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. Sadly Ethererum's credibility could be ruined alongside with it's price.

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

Bitcoin Cannot Be Stopped

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

There isn't anybody to call. There is nobody to place 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 point of failure. They are still centralized.

Another instance would be if Vitalik's household have been taken hostage.. Bitcoin is past any of this and that's the reason it's the safest funding on the planet.

Be taught Tips on how to Use Bitcoin

Everybody should own some Bitcoin. It's not without it's dangerous though. If you're new to Bitcoin then you must study as a lot a lot as you'll be able to earlier than you invest any money. Owning Bitcoin comes with a lot of responsabilty. Discover ways to use Bitcoin safely.

For individuals just getting into the world of cryptocurrencies there are lots of hidden dangers. Do not part with your hard earned money till you know what you're doing!

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