Well, it’s been a crazy ten years for Bitcoin. Actually it mores than ten years since Bitcoin was first produced by Satoshi Nakamoto. Whoever, he, she or they were, they’ve had a extensive impact on the world. They no doubt forecasted that which is why they chose to vanish from the limelight.
So over a decade later on Bitcoin is still alive as well as stronger than ever before. Countless other crypto coins have come because all attempting to mimic the king of Crypto. All have actually stopped working as well as will certainly remain to fail. Bitcoin is one a kind. Something that can’t be reproduced. If you do not recognize why then let me clarify.
If you don’t know what Bitcoin is I’ll simply give you a few quick key points:
Bitcoin Is An Online Cryptocurrency
It Has a Optimum Supply of 21 Million
It Can not Be Created
Not All Coins Are in Circulation Yet
It Is Fully Decentralized Without Anyone Controlling It
It Can not Be Censored
It is Peer to Peer Money
Any Person Can Use It
Bitcoin Has a Fixed Supply Which Lowers Every 4 Years
What Makes Bitcoin Different?
So what makes Bitcoin different to all the thousands of other coins which have been designed since?
When Bitcoin was first invented it started to spread out slowly amongst a little team of people. It grew organically. When people started to see the advantages of Bitcoin and just how the price would enhance as a result of it’s repaired supply, it began to expand much faster.
The Bitcoin blockchain is now spread across hundreds of hundreds of computer all over the world. It has spread out beyond the control of any government. It’s developer has actually vanished as well as currently it runs autonomously.
Designers can update and improve the Bitcoin network however this has to be done my agreement throughout the whole Bitcoin network. No person bachelor can manage Bitcoin. This is what makes Bitcoin unique and impossible to duplicate.
There are countless other cryptocurrencies offered now but as an example of what makes Bitcoin different I’ll make use of Ethereum as instance. It’s a one of the biggest Alt coins now and also has been since it was designed in 2015 by Vitalik Buterin.
Vitalik controls the Ethereum blockchain and essentially has the final say on any type of advancement that occurs on Ethereum.
Censorship As Well As Federal Government Interference
For this example allow’s envision that Iran is sending out billions of dollars to North Korea to money their new nuclear weapons program. This is not a excellent situation yet it’s intended to show you how your cash is much safer in Bitcoin!
Anyway. first example. Iran is using the typical financial system and moving this cash to North Korea in USD. The US government say hang on a min, we require to ice up these transactions and also confiscate the cash. Easy. They do that quickly and the trouble mores than.
2nd example. The exact same point happens once again but this moment Iran use the Ethereum blockchain to send out the money to North Korea. The US federal government are see what is taking place. A phone call is made.
” Get Vitalik Buterin in Below CURRENTLY”
The US government “puts some stress” on Vitalik as well as they make him curtail the blockchain and also terminate Iran’s purchases. (The Ethereum blockchain has actually been curtailed before when a cyberpunk swiped a significant quantity of funds).
Trouble solved. Sadly Ethererum’s reputation would certainly be destroyed together with it’s cost.
Ethereum is just an example, however it’s true for every single various other cryptocurrency.
Bitcoin Can Not Be Quit
So the same thing occurs once more. This moment Iran make use of Bitcoin as their payment technique. The US Government see this and also are helpless to quit it.
There is no one to call. There is no one to tax. The Bitcoin is past censorship.
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