Well, it's been a crazy 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 prodiscovered impact 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 along since all trying 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. For those who do not know why then let me explain.

Should you do not 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 Can't Be Forged

Not All Cash Are in Circulation Yet

It Is Fully Decentralized Without Anybody Controlling It

It Cannot Be Censored

It's Peer to Peer Money

Anybody Can Use It

Bitcoin Has a Fixed Supply Which Decreases Each 4 Years

What Makes Bitcoin Completely different?

So what makes Bitcoin completely different to all the thousands 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 people started to see the benefits of Bitcoin and how the worth would enhance as a consequence of it's fixed provide, it began to develop faster.

The Bitcoin blockchain is now spread throughout hundreds of thousands of computer all over 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 has to be achieved my consensus all through the whole Bitcoin network. No one single individual can management Bitcoin. This is what makes Bitcoin distinctive and not possible to replicate.

There are thousands of different cryptocurrencies available now however for example of what makes Bitcoin different I am going to 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 ultimate say on any development that happens on Ethereum.

Censorship And Government 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 will not be a good situation but it's supposed to show you the way your money is safer in Bitcoin!

Anyway.. first example. Iran is using the standard banking system and transferring this money to North Korea in USD. The US government say hang on a minute, we need to freeze these transactions and confiscate the money.. Easy. They do this straight away and the problem is over.

Second example. The same thing happens once more 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 "places 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 before when a hacker stole a significant amount of funds).

Problem solved. Unfortunately Ethererum's credibility could be ruined alongside with it's price.

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

Bitcoin Can't Be Stopped

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

There is no such thing as abody to call. There isn't abody to put pressure on. The Bitcoin is past censorship.

Each different cryptocurrency out there has been created by somebody or some company and that will always be the point of failure. They're still centralized.

One other example can be if Vitalik's family had been taken hostage.. Bitcoin is past any of this and that's the reason it's the safest funding on the planet.

Be taught The right way to Use Bitcoin

Everybody should own some Bitcoin. It isn't without it's dangerous though. If you're new to Bitcoin then you must learn as much a lot as you may earlier than you invest any money. Owning Bitcoin comes with a whole lot of responsabilty. Learn how to use Bitcoin safely.

For people just getting into the world of cryptocurrencies there are many hidden dangers. Don't part with your hard earned cash till you know what you are doing!

In case you loved this post and also you would like to obtain more information relating to BitApp 24 generously pay a visit to our own page.