Well, it has been crazy for Bitcoin for ten years. In fact, Satoshi Nakamoto first created Bitcoin for more than a decade. No matter who he (she) or they are, they have had a profound impact on the world. They undoubtedly predicted that this is why they chose to disappear from the public eye.
Therefore, today, more than a decade later, Bitcoin is still more active and stronger than ever. Since people have tried to imitate the king of encryption, thousands of other cryptocurrencies have appeared. All have failed and will continue to fail. Bitcoin is one kind. Something that cannot be copied. If you don’t know why, please let me explain.
If you don’t know what Bitcoin is, please give me a few brief points:
Bitcoin is an online cryptocurrency
The maximum supply is 21 million
It cannot be faked
Not all coins are in circulation
It is completely decentralized and does not need anyone to control
It cannot be censored
Anyone can use
Bitcoin’s fixed supply decreases every four years
What makes Bitcoin unique?
So why is Bitcoin different from all the other thousands of coins invented since then?
When Bitcoin was first invented, it began to spread slowly among a small group of people. It is grown organically. When people began to see the benefits of Bitcoin and the price increase due to a fixed supply, Bitcoin began to grow faster.
The Bitcoin blockchain is now spread across hundreds of thousands of computers around the world. It is beyond the control of any government. Its creator has disappeared and can now operate autonomously.
Developers can upgrade and improve the Bitcoin network, but this is the consensus I reached in the entire Bitcoin network. No one can control Bitcoin. This is what makes Bitcoin unique and impossible to copy.
There are thousands of other cryptocurrencies available now, but as an example of what makes Bitcoin unique, I will use Ethereum as an example. Since Vitalik Buterin invented it in 2015, it has been one of the largest Alt coins currently.
Vitalik controls the Ethereum blockchain and basically has the final decision on any development that takes place on Ethereum.
Censorship and government intervention
For this example, let us imagine that Iran is sending billions of dollars to North Korea to fund its new nuclear weapons program. This is not a good situation, but it should show you how to use Bitcoin more securely!
Anyway… the first example. Iran is using the standard banking system and transferring the money to North Korea in U.S. dollars. The US government said, wait a minute, we need to freeze these transactions and confiscate the money. They did so immediately and the problem was solved.
The second example. The same thing happened again, but this time Iran used the Ethereum blockchain to send money to North Korea. The US government is seeing what is happening. Made a call.
“Get Vitalik Buterin here now”
The US government “applied some pressure” on Vitalik, which caused Vitalik to roll back the blockchain and cancel the Iranian transaction. (The Ethereum blockchain actually rolled back before hackers stole a lot of funds).
The problem is solved. Unfortunately, the reputation of Ethereum and its price will be destroyed.
Ethereum is just an example, but this is true for all other cryptocurrencies.
Bitcoin can’t stop
Therefore, the same thing happened again. This time Iran uses Bitcoin as a payment method. The U.S. government expressed its inability to stop this.
No one can call. No one wants to exert pressure. Bitcoin has gone beyond censorship.
All the other cryptocurrencies there were created by someone or a company, and this will always be the key to failure. They are still concentrated.
Another example is if Vitalik’s family is taken hostage. Bitcoin exceeds any limits, which is why it is the safest investment on earth.
Learn how to use Bitcoin
Everyone should own some Bitcoin. However, it is not without danger. If you are not familiar with Bitcoin, you should learn as much knowledge as possible before investing any money. Owning Bitcoin has many responsibilities. Learn how to use Bitcoin safely.