@sammiebetancourt
Profile
Registered: 3 months, 2 weeks ago
Why There Will Never Be Another Bitcoin
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 were, they've had a profound effect on the world. They no doubt predicted that which is why they chose to vanish from the limelight.
So over a decade later Bitcoin is still alive and stronger than ever. Thousands of other crypto coins have come alongside since all attempting to imitate the king of Crypto. All have failed and will proceed to fail. Bitcoin is one a kind. Something that may't be replicated. In case you don't know why then let me explain.
For those who don't know what Bitcoin is I will just give you a few transient key factors:
Bitcoin Is An On-line Cryptocurrency
It Has a Most Supply of 21 Million
It Cannot Be Solid
Not All Coins Are in Circulation Yet
It Is Totally 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 Every four Years
What Makes Bitcoin Different?
So what makes Bitcoin totally different to all the 1000's of different 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 folks started to see the benefits of Bitcoin and the way the value would improve on account of it's fixed provide, it began to grow faster.
The Bitcoin blockchain is now spread across hundreds of thousands of computer all around 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 however this has to be carried out my consensus all through the whole Bitcoin network. No one single particular person can control Bitcoin. This is what makes Bitcoin distinctive and unimaginable to replicate.
There are literally thousands of different cryptocurrencies available now however for example of what makes Bitcoin completely different I'll use Ethereum as example. It's a one of the biggest Alt coins proper 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 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 isn't a superb situation however it's presupposed to show you ways your cash 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 government 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 government "places some pressure" on Vitalik and they make him roll back the blockchain and cancel Iran's transactions. (The Ethereum blockchain has actually 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, however it's true for every different cryptocurrency.
Bitcoin Can't 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 no such thing as abody to put pressure on. The Bitcoin is beyond censorship.
Each different cryptocurrency out there has been created by someone or some company and that will always be the point of failure. They're still centralized.
One other instance could be if Vitalik's household were taken hostage.. Bitcoin is past any of this and that's the reason it's the safest funding on the planet.
Study The best way to Use Bitcoin
Everybody should own some Bitcoin. It's not without it's harmful though. In case you're new to Bitcoin then you should learn as a lot a lot as you may before you make investments any money. Owning Bitcoin comes with numerous responsabilty. Learn how to use Bitcoin safely.
For people just entering the world of cryptocurrencies there are lots of hidden dangers. Don't part with your hard earned cash till you know what you are doing!
For more on immediate bitwave platform stop by our web site.
Website: http://immediatebitwave.net/
Forums
Topics Started: 0
Replies Created: 0
Forum Role: Participant