Bitcoin Forum

i've been around this community a few years and i still don't get why anyone would chose bitcoin.

don't get me wrong i believe in an alternative p2p currency, but to me bitcoin certainly doesn't cut it.

about the only answer people have is first mover advantage. but that's pretty much it.

bitcoin seems to, over time, be drifting more into a centralised system, core dev team where so few as 5 completely control the code, backed by what has come to light time and time again a very questionable central organisation.

have VC with their little startups jumping on board left right and center, and we know their goals  :-*, bitcoin's heading more and more like being the bank product it was meant to be an alternative to  :o

seems the only way to back bitcoin is keep your head it the sand and hope it'll all turn out good in the end........

You could ask the same with facebook, why should someone use it instead of a different social network. The answer is simple facebook is the biggest social network with the most support worldwide. Bitcoin is like this the biggest crypto currency in the world, until a new crypto currency comes wich will have more support and more users than bitcoin we will still prefer bitcoin.

Network security comes with that first mover advantage, you can't easily replicate that.
It is the test pad for cryto in the real-world, if bitcoin fails then this generate of crypt will fail, if it succeeds, then others can too on it's trails.

If it is going to succeed, it will have to be more mainstream, it can fail and stay very liberal, insecure and hard to use, bit that will be a failure.

OP does not understand how open source projects are developed.

Why bitcoin? That's easy, it's not an inflationary scamcoin like fiat. Nor is bitcoin backed by coercion and violence. No other currency with a 3bil+ market cap in the history of Earth can make that claim.

Not exactly the same, but I get where you are coming from.

I believe in BTC, I don't hold a large amount so not going to profit from the "moon" scenario. I think the potential is there in the community, as well as the technology.

Time will tell as ever.

We choose bitcoin because of it's properties: open source, decentralized (still is), near instant transactions, same day confirmations (with appropriate tx fees), trustless.

At this point, bitcoin is, like other big institutions, sort of too big to fail. It's value or exchange rate notwithstanding, it is currently supported by the most hash power, by the most number of nodes and miners, and the most number of users and websites that accept crypto currency.

it still offer a valide alternative to someone who does not want to use fiat, and for who that has the need to use a currency that can be used as a global currency, without convert it everytime

and btw there is no centralization(you're still in control of your portfolio, not like with a bank, were they "rub" you for their secret investment) in bitcoin

the project is open to everyone while the mine aspect even if it seems decentralized you can still join the net and mine as a casual miner if you have cheap electricy, otherwise go with cloud

no its the core devs who don't.

thought bitcoins marketcap was 21 million?

THIS
IS
WHY
YOU
SHOULD
BE
MINING.

If you are a "bitcoiner" who does not mine you are NOT a bitcoiner.  You are allowing others to control the network.. tsk tsk tsk.

market cap isn't the total numbers of bitcoin, but the toal value of the current coins in circulation

http://coinmarketcap.com/

think most here are missing my main point, i'm saying i'm a fan of alt to fiat p2p currencies, so I'm no saying why btc vs fiat i'm saying why bitcoin v other p2p alternatives.

i was being sarcastic re the irony of pricing bitcoin in USD.
 

Bitcoins are limited to less than 21 million BTC. The value of each BTC, and therefore the value of all BTC combined is now in the billions.

If there are about 21 million BTC, and each one is worth $200 USD, then the market cap of the entire cryptocurrency is more than 4 billion USD.

why price it in USD? peronally i've never used USD.

Well that's a rather specific definition. I haven't mined in an eternity because it is no longer cost efficient nor fits my lifestyle - doesn't mean I can't do other things like run a node and be a supporting part of Bitcoin. Network security is maintained by the fact that generally most miners don't want to see all the mining to occur at a few specific pools (with the potential for 51% attacks) and that they want to make a profit. It's like saying you should make your own CPU and motherboard because you can't trust that the NSA hasn't tampered with it. At some point things become too difficult to live in land of golden principles - reality doesn't fit so well.

I don't use USD either. However everything I buy using bitcoin is priced in USD as the reference.

Because he needs a figure to indicate that the market capitalization of Bitcoin has increased - best way is to peg it against one of the most commonly accepted currencies for financial transactions in the world.

USD may not be useful to you if you don't live in the US - but they are important for all exporters/importers and a significant number of financial structures and companies.

a crypto having a price is meaningless.

what gives bitcoin a price is mostly the greater fool theory http://en.wikipedia.org/wiki/Greater_fool_theory

Why Bitcoin? Because with all other altcoins you will get Paycoined(tm) eventually :P

without a doubt i think overwhelmingly most cryptos are the devs quest for more fiat.

Crypto faces an uphill struggle to convince the wider world to trust it.

Bitcoin has been battered relentlessly since day one. The technical failures that occurred such as the hard fork and multi billion coin incident occurred while it was still small. Other coins might have similar vulnerabilities that wouldn't be uncovered until they had proper value. No doubt thousands of people have tried to crack it open and have failed.

It's also gained strength against a backdrop of overwhelming negativity and scepticism and it's seeping into more and more nooks and crannies every day.

That type of trial by fire is just as valuable as the size of the network in building a viable future. No one will ever be able to replicate it and it can't be transferred.

No one's going to risk pouring a similar amount into an unproven system.

The price of Bitcoins is more than any other currency and it is pretty similar to forex and stock markets where one can trade bitcoins by buying them at a lower price and selling them at a higher price. That's the reason many use bitcoins.

Bitcoin is just the first honest money on internet. In fact an honest money does not limited to bitcoin, as long as it is produced by inputting similar amount of value as its face value. From this regards, other coins could also have some value as their production cost

Universal acceptance is very important for money, from this regards, bitcoin has magnitudes wider acceptance than altcoins

because the usd is the biggest fiat currency? second place is for euro

it make sense to use as a primary conversion rate for bitcoin

Bitcoin has been there for couple of years and then in right time start climb up. I would say it`s question of good timing and of course there is something behind which started such popularity. But who knows true?

production cost does not give something value.

why do you consider bitcoin the first honest money on the internet? what makes bitcoin honest?

bitcoin certainly has vulnerabilities to this day and it wouldn't take a rocket scientist to exploit these.

the fact that is not controlled by banks/government, one could argue that it is controlled by whales instead, but it is always better than being in the hands of bank or gov


it seems that it take a certain effort, seeing as no one has exploited it since years

you know being around yourself wouldn't take much to think out a plan, just you, or I  or anyone who could figure it out has no motivation too, but thats not saying someone sometime would.

So out of all the skilled people on the planet who could take it apart to either - enrich themselves, have some lulz, prove themselves superior to every one else in the world or do it on behalf of multiple malevolent entities, not a single one has done it because they can't quite be arsed?

no because pretty much everyone who can figure out an exploit, wants bitcoin to suceed.

I'm not so sure. There must be tens or hundreds of thousands with similar amounts of skill who would take enormous pride in killing it off if they could.

i'll give an example that doesn't give anything away to anyone with malice intent. pools have nearly 51% bitcoin in the recent past but had no malice intent and averted it.

now one could setup a pool and do so, note not that I think a 51% attack is even a real problem so I am giving such as just an example.

Well in all honesty there should be internal efforts to find exploits in order to fix them. I know I've read some papers discussing these. There was one relatively recently IIRC.

Back to "why bitcoin?"

1. I also think its reached the too big to fail status. It will be supported because it can't not be supported. If bitcoin fails it all fails (or takes a long time to recover)
2. It has the most secure network (most alts could be 51% with less than astronomical accumulation of hardware (POW) or currency (POS)).

It's the most popular alternative currency; currencies get better the more people use them.  I wouldn't use, say, altcoin-X, because if I wanted to make a purchase, I'd likely have to exchange altcoin-X into bitcoin or perhaps dollars, so I may as well cut out a step.

But if you're asking why bitcoin is the most popular and not some competitor, it's likely because bitcoin came first so it's the most established; everyone knows bitcoin, not altcoin-X or some other p2p system like, say, ripple.  This may change in the future, nobody knows for sure.

yes the exploit was a sidetrack as most other cryptos suffer similar.

but yeah I'd agree with the too big to fail angle.

not sure about the security v other alts, as pure hash doesn't ensure security. pos/pow combos could be argued as more secure, though pos well, less secure then most realise (n only takes mini resources/currency to exploit, tested that alot).

Having bitcoins, free's you from curency fluctuations, economic inflation, remittance fee, service/tax charges,funding your requirements without interest, approximate decimal value, although it has its vunerablaties, is similar to having an offshore account that can't be tracked

my questionings coming from the angle of why are so many diehard bitcoiners, when its hard to envisage bitcoin being mass adopted, eg anon dev (cool in the crypto underworld not so to average joes or regulators) especially when anon devs hold a million stash etc, silkroad and illegal rep...list goes........first mover advantage yes, but paving the way hasn't come without cost.

(note i'm not arguing satoshi's stash, or any points about btc reputation ie USD used for more illegal etc....so no arguments on the neg just saying those perceptions exist).

It's not exactly comparable, the analogy of the "first this or that". It will never be the same after Bitcoin, it solved too many unseen things and the protocol can and will adapt anything as needed. No coin will ever surpass BTC, it is what it is.

very blinkered mindset, one thing i'm confident of is another p2p currency will surpass btc (not saying such exists yet).

My question to the OP is why is this topic self moderated? Are you planning to influence the discussion by removing the posts you don't like?

If you want to ask people "why Bitcoin?" maybe it would be good to ask yourself "why fiat?". This question was already asked at least a 100 times on the forum.


Isn't this the natural way of things? Something will eventually surpass Bitcoin, just like Bitcoin will eventually make services like Western Union obsolete and will offer an alternative to the current banking system.

If the cost is much lower than face value, then everyone will mine it and sell for quick profit, no one will buy, then the value will fall back to the production cost quickly. It is the demand and supply combination gives something value, however it is difficult to see how much demand there is, so cost act as an indicator, the real demand will look for the lowest possible cost to acquire the coin, which is mining

An honest money means free entry, e.g. everyone can make this money, thus its purchasing power will be similar to the cost of money creation, due to above arbitraging practice

Even litecoin is an honest money, since the cost is almost the same as its market value

Have you already found an alternative? Or it's just an concept/forecast by now?

i haven't deleted any posts and am happy to keep any on topic whether i agree or disagree, just i'm used to the alt section where people use any thread to promote their shitcoin  ;)

again i didn't say 'why fiat' cause i'm more discussing out of crytpos why bitcoin.

i agree with your last comment, i think something could better bitcoin;

 but there seems to be this attitude amongst some bitcoiners that bitcoin is it, nothing can better it, yet i am asking why, especially seeing bitcoin has many flaws, why bitcoin? other then first mover advantage why is bitcoin so perfect and can't be bettered?

well i think there is atleast one coin better the bitcoin, but this thread is more about the concept of looking elsewhere and not just being stuck in the bitcoin is best nothing could better it, mindset.

also having been behind the scenes in many a crypto, i've considered creating in my mind the ideal p2p currency, just many an issue i have with all current cryptos arent easy to solve.

My guess? Hes about to pump a shitcoin.... Very typical for all the scamcoins bs...

who is?

i think that above discussion is more about something, that doesn't yet exist, replacing bitcoin eventually.

any shitcoin pumping in this thread will be deleted (hence, as stated earlier, the self moderation).

So you asked us "Why bitcoin"? And I have another question for you. "If not the Bitcoin then what"? Are you telling us that the bitcoin is the dead end of evolution of cryptocurrency? Do you think we should abandon it and create some other coin now? Or do you think FIAT is enough and we don't need to bother ourselves with cryptocurrency at all?

There are no real non-fiat alternatives to Bitcoin at this time.

Bitcoin is a very sophisticated technology. With bitcoin, we can transact very fast and safe. And also, can earn income from bitcoin

well yes i kinda do get the feeling bitcoin is a dead end road, i like the idea of a decentralised p2p currency, definitely.

i think if you read up about bitcoin and the theories and the hype from the core crypto nerds and the would be new world bankers with vc backing, there's a bit of an initial wow, great concept.

then you try to use it, investigate a little more how it solves some of the problems it tries to address, then the sparkle goes a way.

i think fiat certainly aint the way forward, and the current system is kept alive because of the fear of what would happen (at this point in time) if the system failed.

i think we should certainly investigate better ways to solve many of the flaws in bitcoin.

the alt community should be doing this but the crypto faithful in it are too stuck in how bitcoin does it mindset, and have a tendency to further complicate the solutions, and the not so faithful flood it with get rich quick scamcoins.

It also got biggest network, number of users, adoption rate and nice name. But being first is huge in this case. We're not talking about first grocery store in town, which have a big advantage of being first, but can easily lose it's position to competitors with better prices and better services.

Current bitcoin users cannot switch to other (currently best) coin without turning whole cryptocurrency 'industry' into big joke. If everyone jumped from coin A to better coin B, then no one in the right mind would keep any significant amount of $ (equivalent) in coin B, as there'll be a risk (or even certainty) that someone will launch "new and improved" coin C and everyone will jump on that.

Bitcoin doesn't have to be the best (whatever that means) it has to be "good enough".

And the bottom line is, Bitcoin is not un-changeable. If there's ever new protocol, or improvement invented and everyone (or vast majority) agree is better than the current one, you could switch Bitcoin to that. With the biggest network and user base, that scenario seems more likely to happen than other crypto taking over.


How do those 5 devs control the code? What do you think will happen if they tried to force the fork that no one else agrees with? They would made themselves irrelevant pretty quickly.

You're not happy with "5"? What's the right number? 7? 20? 1000? No devs at all?

What/who is stopping you from becoming influential/valuable dev?

TBF backing the dev is was probably the most useful thing they ever did.


And how's that bad? Have they stolen your ability to control your coins? If not, what's the problem? You don't want to use BTC because people/institutions you don't like also have interest in it? Bad news, pick whatever crypto you want, but as soon as it's successful you'll have VC investors and financial institutions all over it.

Sorry but I beg to disagree on this one.

Being a bitcoiner doesn't mean you should mine--same as using fiat. There are no strict prerequisites before using money afaik, same with bitcoin. Do you need to be one of the producers of these paper bills that they're handing out before you could use it or be one of the users of it? I think not. Being a bitcoiner doesn't mean you should mine to be called as one; using the coin alone means that you can be called as a bitcoiner. If what you are talking about is the case, then I shouldn't be called a bitcoiner because I don't mine and I do not have the means to.

Why Bitcoin?

Because it serves as an alternative to the failing ever inflating fiat based currencies around the globe.  Ever hear of "The Grexit" or the Russian Ruble?

Why Bitcoin?

Because it allows you not to wait a few days for a major high value wire transfer, transaction, payment to clear from a bank or creditor and avoid exorbitant fees.

Why Bitcoin?

Because you're sick of annual fees, hidden fees, merchant fees, checking and savings fees, interest fees, late fees, maintenance fees.  All you see with Bitcoin is a nominal miner's transaction fee, but if you're transacting hundreds or thousands of dollars worth of Bitcoin and can't afford a few pennies, I don't know what to tell you...

don't be naive the 5 central devs could pretty much do what they wanted (gavin's even openly says this),

now the argument that majority wouldn't follow a bad play....well that could be valid if 1) the majority aren't apathetic AND 2) the majority understand the change and consequences (they'd believe the devs over and above the vocal few expressing the opposite view) AND 3) the majority had bitcoins best interest at heart rather then their own personal fiat gain.

becomes like fiat majority learn its dodge they'd still try and keep it in play for fear of system collapse.

you really think bitcoin would survive a split between the core devs and the majority of holders?

 

Bitcoin IS crypto. Bitcoin is the the main matrix. Crypto will be a success, therefore Bitcoin will be a success. Connect the dots and realize this objective fact.

Sure they could change the code to anything they liked - but in reality, it is only relevant if the whole community agrees and updates to this new version. If not, for all major changes (ie. adjusting the supply limit) all you would do is create a fork between the people using the older Bitcoin Core and the newer one.

Most of the big changes would cause a price collapse (I can't think of a major change that would be agreed upon which would cause a price increase) - which would inspire the mass of Bitcoin users to reject a new update. On that point I do agree - most are motivated by financial gain rather than coin itself, but luckily so far these are fairly aligned.

It would go on with new devs - maybe worse off but not dead. Reminds me of the Truecrypt project that packed up and instead got taken up by a number of different groups of devs.

you know that coin can be bitcoin 2.0... don't forget that bitcoin isn't complete, it offer all new things to be explored and upgraded, into something even better

bitcoin has potentially that's why you should choose it, while fiat is being controlled by greedy banks/gov, and there is no future for it, is an old "dying technology"

another thing why i prefer bitcoin, is that you can't just "print more"

Source?
Knowing how carefully he states his opinions I find it hard to imagine him saying "I (we) can do whatever I want with Bitcoin".
Sounds like you've taken it out of context.

Have you followed any technical discussion about possible changes? I've seen a few and I've seen Gavin compromising on his original proposals.

What about 20mb block limit proposal? Majority (that participated in discussion) seems to agree (to the general idea of lifting current limit), but it doesn't look like it will be an easy thing to do and will likely end up with 2 alternative forks.

So where's that power?

Also, you didn't answer my question:

Why do you consider it as a closed group?

That's not a problem exclusive to Bitcoin. That's wider, social problem. It's the same for every crypto.

Luckily as per "3)" in most cases: better Bitcoin=higher value=potential fiat gain.


Yes. Easily. Majority will put their trust into other devs.

And what's the desired number of core devs (or other model) in your opinion?

Do you mind sharing? I mean that better one.

IMO bitcoin will live and stay the first and the most.., but I also consider Nxt and Cryptonote coins promising.   

Because decentralization is the future of a healthy ecosystem. It will help in every aspect of society from agriculture the finance. Bitcoin is the finance part.

Yeah, like its been said before, bitcoin is the equivalent of gold. Slow (10 minute blocks). Weird emission (block halvings). Wonky distribution.

And at some point it becomes all about the infrastructure. You got nodes and mining equipment in bunkers in mountains all over the world and in satellites circling the earth? Thats probably the network thats the most secure

probably because there are so many questions in this thread (well including people answering a question with a question).

anyways whats stoping me becoming an influential/valuable dev, if you mean in bitcoin; lack of faith in bitcoin. not from the first day i used bitcoin  (many years ago) have considered it even remotely likely to ever become a useful alternative to fiat.

as for dev of something i see promising in the future, be happy too.

Not really, I don't think there are that many questions in this thread.
You seem to be very selective in your replies and haven't address most of the things from my last 2 posts.


That's not what I meant.

You call Bitcoin centralised because of "only 5 core devs", while there's absolutely nothing stopping you from being the dev yourself. You don't need anyone's permission. If you have knowledge/skills and can use arguments to convince others to your ideas you could have more influence then those 5.

As for now, you sound like complaining about 'water being too wet'.

Indeed. If an individual is capable of delivering quality content/bug fixes/features to the protocol it will get implemented. The open source is open to anyone to try.

Missed it. Now loved the comparison  ;)

I wouldn't chose bitcoin if i wouldn't know it. But i know it, and everytime im traveling, im angry that i can't buy drink on every airport in the world with bitcoin and my smarthphone. I must change money in each country and pay many fees and get so much trouble.

At the first glance I know bitcoin, it has a lowest fee for a transaction. Unlike fiat currency, it require quite big fee.
It also has a fast transaction if we pay for high priority. If many world using bitcoin as default currency, everyone will be more easy & faster to spending some money

of course i'm selective of the questions atm, because i don't have the time to properly fully answer most the questions, and I wrote the initial questions to get other peoples answers, i already know my own.

again i think you miss where i am coming from......i would not be interested in being a dev of bitcoin, because outside of it being a p2p currency, its extremely rare i like any aspect of it, be better devoting my time to a project i'd believe in.

yes you're saying if you don't like aspects of bitcoin, its opensource so fix it, i'm saying its not bitcoin i'm being critical of here, its people's blinked 'bitcoin is the greatest nothing can beat it' mindset i'm being critical of.

in fact i believe its a great possibility the bitcoin is extremely bad for the success of a true p2p currency. its almost more like an experiment to prove those who hate the bankers of the world become them when given the same power.

So you admit it yourself that bitcoin is indeed the best option we could have for now. I can see that you are trying to say that FIATs are relicts of the past. Altcoins in general are distraction and wasting time for something what will probably fail in the long run or will be very hard to 'put through' (as great number of them failed already are in the process of failing). And our really one and only option is to focus on perfecting bitcoin...

Bitcoin is a unique experiment testing decentralized trust and other aspects of human behavior in a community/society setting. Nothing else like this existed before.

Drug dealers, cyber hackers, underworld hoodlums, and anonymous fraudsters will always need an efficient way to exchange/ransom money.

Bitcoin does an excellent job at providing that niche medium of exchange.

You are trolling right? I have enough of people claiming that bitcoin is only good for fraudsters, robbers, kidnappers, hackers and other crime oriented professions. Bitcoin is just a tool, just like knife or gun. Do you think that every gun should be banned because some killer can use it for murder? Normal FIATs (paper money) are untraceable and hard to track as well...

well you're interpreting what i am saying wrong. i'm know there alts that are better then bitcoin even as we speak, certainly they are not perfect but a few are certainly an improvement on bitcoin.

as i've been saying bitcoiners are too blinked in thinking bitcoin is the only way, so in essence, for p2p currencies to move closer to ideal its bitcoin that is the distraction, and the cryptocommunities obsession with this extremely flawed approach is bad for the future of alt currencies.


i'd certainly agree the alts section here is flooded with scams and crapcoins and thats a distraction as well.

as this threads about bitcoin v other p2p options (and not v fiat), microguy has a point. not saying other successful alt wouldn't equally be used similarly, but bitcoin does (whether erroneously or not) have a bad reputation for being associated with crime; which is certainly a barrier to further adoption.

Well i can't agree more on the centralization part. Even the mining has moved towards that. Hopefully when the block reward gets reduced something can change towards the positive side. It's either mining operation will start to scatter around as more of these big miners decided to stop operation or become even worse when it is controlled by a single entity that have access to cheap power supply. But anyway, regardless, at least with bitcoin around it is still holds slight advantage compared with fiat.

We can make such an extreme step in society to go from bank/gov money to the perfect p2p peoples money just like that.  People will gain back power in stages, bitcoin is a very large step as it is considering you can produce your own money via mining.

Bitcoin is more popular day by day and accept many companies, eCommerce, online stores. Then, why not Bitcoin?

Yeah.....
about facebook, that is a bad example bro.
Facebook was funded by the NSA or the CIA, I don't remember which but it was money from a bank they control.

Bitcoin will remain my #1 option, unless a viable alt has a strong user-base and really good reasons to switch. At this time, there is no other leading contender.

Some start-ups are backed by the CIA:
Connecting In-Q-Tel to Facebook isn't easy using mainstream sources, but there are many rumors about "Fedbook" being started/helped by the Gov't.

Bitcoin is the biggest network in the world, more than all supercomputers running together, thats why.
And any other analogies you want to make (look what happens with myspace etc) will never work, because Bitcoin is decentralized.

Bitcoin will be the future global currency and would be accepted across the globe and at present that is the best product to invest in and can give you a better returns on investments no doubt the risk is involved in investing in its but it goes with any financial product but still bitcoin is safe for the future.

Thats true. Bitcoin is the safest at present to invest and its a future so can afford to invest in bitcoin for the better returns in the future. Gold can be one option but its prices are continuosly going down but it will not be the case with bitcoin in the future as people start adopting it.

Sooner or Later it will replace Fiat Currency and I travel a lot so for me Bitcoin is best for the payment purposes I don't have to pay for currency exchanges costs wherever I travel and I just pay using bitcoins which saves my money and I can travel with very less cash in my hands.

I choose Bitcoin because this is the only way I can receive payment online. I dont have paypal or Skrill or anything. The only popular and secure online currency I can use is Bitcoin. That's why I choose Bitcoin. Agree.. Let's hope that Bitcoin will not become a bank product. I hope Bitcoin will be decentralized forever.

Yeah but the Bitcoin network can only do one thing, whereas supercomputers can handle all kinds of tasks.
So I don't think that is a good comparison.
Just saying....

it can't be centralized ever, at worst they could come up with something like it but centralized, like ripple for example

bitcoin will still remain the valid choice of liberalist

well i think it is because bitcoin is already an established crypto currency unlike those altcoins even though some of them are innovative are not yet well established and not much of it are supported by many people

invest in other altcoin is like a gambling with no guarantee return of your initial amount there is much big risk involve in it but Bitcoin is the safest investment for bright future, so much public awareness and merchant acceptance around the globe.

I Agree. Altcoin is not a better option no doubt it is attractive at present but there is high level of risk involved with it so its better to stick with bitcoins and as the adoption and acceptance level will go high the bitcoin will regain its popularity and the perfect value.

There are quite a few alt-coins that are gaining popularity, and there are quite a few alt-coins that are more innovative than Bitcoin.
Their only drawback is that they came after Bitcoin and Bitcoin is well established now.

If you're aware of bitcoin & have been in this community for a long time you should still hodl maybe 5 bitcoins just incase we explode into mainstream & you knew about bitcoin but didn't take advantage of it then you will be kicking yourself.
Don't have any regrets.
Buy a few coins, put them in cold storage & forget about them for a few years.
It might be the best thing you ever do.

Bitcoin is backed by computational power, unbreakable encryption and huge amounts of electrical power being used to secure the network, the biggest network in the world (main reason to pick it vs the rest of altcoins). It is also backed by leveraging the entire global internet.

Also, it is not Fiat, it does not exist by law or decree and it does not have a sovereign nation backing it with debt or threat of violence.

Explain the word choose bitcoin? If choose means that collecting it and save it then I would say I dont choose bitcoin. Many people choose bitcoin because bitcoin is the first mover in this industry and the second reason would be because of its higher price than the other cryptocurrency which make it more known by some companies

Bitcoin is one of the most centralized currencies on the earth. Core changes are controlled by literally a handful of people.

USD and EUR is much less centralized (and much more anonymous) than bitcoin because no central authority can take money buried in your backyard, but a single update by Gavin and every bitcoin and wallet on the globe is affected.

God forbid, you should not say that!!!
You will get verbally attacked with things like: It's open source so anybody can modify it....

The truth is that even if you do, nobody will join you.

If it doesn't come from the handful of people controlling it now, it doesn't matter.

the core of people who are in charge to update the client can't take action without the consensus of many, can they?

and usually what they do was always beneficial and mandatory, it's not like they are doing random changes...

You have a point, but then again at least we can see the code itself. With fiat, specially when the governments start making their own cryptocoin to try to compete with BTC, it will be closed source.
If you do something to Bitcoin and people like your modification, you can join them and fight the famous core developers to try to be more influential. With the government and central banks, you cant do shit and you cant see shit.

For me, because Bitcoin have the highest price rate. And also, I know everything about cryptocurreny is because of Bitcoin. So, I wouldn't leave this Coin :) (except if the price fall to the ground ;D)

Yes its true altcoin is like gambling but the return can be like 100 or 1000 times it depends on your perdiction, some of them are getting their profit just from altcoin because they know which one to invest and they gather a lot of information. So I guess that is not purely gambling if you choose well so you will get a lot from it

Everyone is talking about bitcoin and critics are just spreading the rumors that btc is dead but I believe that BTC is the future currency and sooner or later it will replace fiat currency so if the investment is done in bitcoin at this point of time it can prove to be profitable decision.

First, every machine with a Bitcoin private key effectively serves as
a bug bounty that can be redeemed irreversibly and anonymously.. :-X
Second,Bitcoin has validated the concepts of secure global logs and globally
decentralized prediction markets. :'(

Bitcoin is decentralised and have no control over it even from the government or the banking system that makes it very attractive. So would love to invest in bitcoin as we don't know what future is going to offer us but on a positive note it will be used worldwide for sure.

think many have lost sight of this threads question is more about why bitcoin v other cryptos, not why cryptos.

 :)  I really  chooce bitcoin because it is all inclusive for a side line job .its A cryptocurrency wage high and many more ways to get bitcoin to work and work hard to double the income knowing that bitcoin has a lot to do with .how to earn especially when I want to invest in bitcoin. For me  to accumulated first to join big investment because it is too expensive to replace it and also to work the way its work the best...way  I can also with bitcoin crypto and what's needed for.

bitcoin is must for big earning and great futere of life this futere curency and futere popoular curency

Information about bitcoin, you can find YouTube, cheeks and even a very good site: the social media that you can get information about bitcoin.
 Thanks