Bitcoin Forum

we see a lot of coins born everyday trying to make faster transactions and less block time why can't other coins for example litecoin overtake bitcoin price? what makes it so special? any bitcoin experts?

same questions over and over again, so im not an expert about this but based on my opinion what born first that ppl will know first too. ppl already adapt and bitcoin become mainstream its decentralized almost everybody know and use it. Alt in other side like ethereum and litecoin born after bitcoin so its still new people still try to learn it. I dont want to say that other alt will not take over bitcoin place but maybe take a years for that.

It is more valuable as it is proven to not be hacked so far in the network. It is a good store of value if you want to keep it for the future and this is not proven in other coins so far. The creator of Bitcoin it is smarter than the creators of different altcoins as he created bitcoin out of nothing while altcoins have Bitcoin as a base where they start creating their altcoins. It is accepted in some big online stores like Steam and Overstock while altcoins aren't.

It does not has a "proper" reply, because a lot of things defines the price of a coin, and how valuable it is.
you need to know that bitcoin has been the first cryptocurrency that has ever existed, and this might be the first reason of why a lot of people have sentiments over bitcoin and they prefer to invest in btc instead of other altcoins.
And the second thing that depends on it, is just the max supply of that coin.
Maybe a token has a max marketcap of ten thousand dollars, but they have only one coin, and this mean that the token will be worth $10000.
But bitcon has more than 21million coins at the moment.

Bitcoin is the first cryptocurrency in the world. At the start the price of Bitcoin was really low and a guy paid 10k BTC for a pizza. But Bitcoin has gone through a long way to make the world know about it and believe that it's the thing can change the world. Bitcoin provided a new payment method to the world and it's better than all other traditional ways. For now the number of people earning Bitcoin is increasing day by day, it make the difficulty of Bitcoin earning and mining increase also, of course this case affect to Bitcoin price a lot, it make Bitcoin price increase as well.

as long as I know the new bitcoin world of coin zec that can override the bitcoin price and it does not last long, and other coin coin like litecoin or eth has never exceeded the bitcoin price, it's probably because bitcoin is the first coin created and becomes the coin as the benchmark price, and mostly to enter the coin altcoin we also have to pass the bitcoin first.

For my own opinion and not a expert for this but in my research bitcoin was a most valuable than the other coins just because of bitcoin was the first and leads than the other coins and specially was a high value and i think that bitcoin is not easy to hack so thats why many investor was trusting bitcoin to earn and to invest.

I don't think there a specific reason for that. Maybe Bitcoin is more popular and valuable because it's the mother of cryptocurrencies.

It has been asked a lot of times in this forum, and the answer is soo obvious, why dont you try to use Mr Google instead of creating those garbage-posts? it is very useless and it does not helps the community, it is only spamming it.
It is easy mate, bitcoin is valuable only because it has been the first crypto, and because people are only investing in it because it is the most famous crypto. If you talk to someone about cryptocurrencies, they will only tell you that they only know Bitcoin, not all those altcoins.
Maybe you ask them what golem is, and they will reply saying that it is a TV movie, lol.

First of all because Btc is the first coin and everybody has very big respect for bitcoin, and second its that btc price increase everyday and people dont afraid to invest in btc.

There are multiple reasons, but none of them guarantee that Bitcoin will remain the most valuable cryptocurrency forever.

First off, BTC has the first mover advantage. As the first cryptocurrency, it is the most recognizable and widely trusted "brand" of this new asset class, so it naturally receives the most investment.

Secondly, Bitcoin Core possesses the most prolific developers in the space. While much of the theoretical work and innovation that has gone into some top altcoins is impressive, none can claim credit for creating a system so robust as Bitcoin.

Thirdly, the network effect. Per Metcalfe's law, the network value is proportional to the square of the number of connected users of the system. As more users come online, the network continues to increase exponentially in value. Another cryptocurrency could grow its network at a faster rate, but this hasn't happened yet.

I think the same way, For example back in the 70's and 80's memory was a big thing to store data and was expensive later on floppys came in then cds now memory is so cheap and you can store it even on cloud so I have a strong feeling that some other coin with better features will overtake bitcoin one day.

We can't rule that out. Nobody can predict the future. I will concede that much.

But let's be honest. No altcoin developer team comes even close to matching the skill, devotion and technical mastery exhibited by the Bitcoin Core developers. Eight years of ~ perpetual up-time, minimal disruption, and no major security failures at the protocol level. And this is not working on something like a Linux fork. This is consensus-critical software backing a live network. There's really not many people in the world who are capable of this kind of programming.

As long as Core continues to absorb the world's most talented developers, I don't see how an altcoin can win.

First off, I did read  about bitcoin and other alt coins in google before I came here. Secondly, I posted this thread just because each person has a different opinion how they see bitcoin as valuable I came here to gather all those opinions at one place. Since, I am newbie here not much activity on my profile I did not know this has been discussed already. But if you feel this is garbage post please feel free to ignore my posts but anyways thanks for your valuable opinion about bitcoin.

Network Effect. There are a lot more people using Bitcoin. There is a lot of hashing power backing the network and hence its safety is higher than other altcoins. Some coins with specific features have come close to Bitcoin in market cap, but Bitcoin is by far the leader.

Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars. ... In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin. It is recognized and accepted as a currency by many. Bitcoin is decentralized and limited.

What is the deal? Is it somehow forbiden to discuss the bigger ramifications of bitcoin on this forum?

Bitcoin is much bigger than simply a cryptocurrency.
We all are finding that out , you are finding that out!

It more than just our personal greed and consumerism.

Bitcoin is writing an entirely new page of human history.

That is fact that a lot of currencies are there but still the number one is bitcoin and the reason being this is that bitcoin is the most trusted currency and the number of bitcoin users are more than any other crypto currency.

I think Ethereum and litecoin are very undervalued interms of the price since ethereum is the largest decentralized software platform which runs on smartcontracts and distributed applications, it is not just a platform but also a programming language which helps other alt coins to build on their platform

may be just a matter of time, bitcoin has long been developed to date on the appeal of another coin that can be said is still new. eth, ltc etc their price is growing because they have been a bit longer,

The answer is just simple because bitcoin is the main source of all of the altcoins, Altcoin means "Alternative coins" it's just an alternative coin for bitcoin to earn more profit that's the reason why developers and rich investors making an alternative coin to gain more profit in the market if their coin has become successful and one of the reason why other big altcoins can't overtake bitcoin because so many investors trusting bitcoin unlike other altcoins because it is the main coin as you see bitcoin starts with a very low price and big investors see it has a potential to get higher and higher until now so they have a trust on it and second you can't buy altcoins without buying bitcoins so it will affects always the price of bitcoin but we can't predict the movement of those coins in the future but be thankful because we all advantaging those coins ;D

Because bitcoin is the most used digital cryptocurrency in the world and it is known as the king of all cryptocurrency . It has a world breaking price other than all the digital cryptocurrencies and i hope it price will become even more and more higher in the future.

You're right.Bitcoin is still the number one leading digital currency throughout the world not just because of its popularity,but also of its fast and accurate transcations .New coins may arrive but none of them have really break bitcoin in its record history.

I think that historically, this has been true. Altcoins today generally fall under two categories: forks of Bitcoin and forks of Ethereum. And since both of these are POW blockchains, the underlying incentive mechanisms that make their economies work and promote the network effect are pretty similar.

This might change over the next few years. While I think IOTA is centralized and unreliable, it's "tangle" consensus mechanism is the first glimpse into a new kind of consensus network with different incentives for security.

Hashgraph, too will be a new kind of consensus algorithm built to compete with Bitcoin. Bram Cohen (of Bittorent) is also creating something called the Chia network which will completely swap the POW security model for something called "proof-of-time." It seems we are leaving the era of Bitcoin clones, and into a new era of real potential competitors that offer something innovative and different.

Bitcoin is more valuable than other coins because it was the mothership and the pioneer of crypto currencies. Other coins may have based their blockchain technology on btc and may have improved it but the fact remains that btc still was first.

I agree that when we talk about value the intrinsic value of something is based on the features it comes with and the use. In terms of crypto currencies however, in my opinion it has more to do with the reach. By reach I mean how many people it has touched so far. Btc being the first crypto currency has since established its market.

The value of fiat currency is determined by the amount of investors willing to put their money in the benefits they can gain from the country having that currency. Value is ultimately determined by the services and goods then you have to factor in the supply and demand for these things. It is the same with btc, having already establishes a huge network and huge market it is now by far the highest priced crypto currency.

In reality it is difficult to determine from a 100% objective perspective the correct value that something should have, since much of it is generated from a merely subjective perspective. But taking into account that there are altcoins with better features than bitcoin whose prices are extremely low, I could say that bitcoin remains at a very high price for speculative and psychological issues of the market.

But all the other coins are also decentralized and limited. I agree that btc is widely accepted, and that's enough reason why it's valuable that any other coins. Many people trust this old lad because it's a well known coin that proven it's usage and worth, so they invest in it,  causing for btc price to rise even more.

For many reasons.

It is widely accepted since it's been there for longest
People have put trust in it first
So many coins have been misplaced thus supply has been decreased
Futures are starting on Bitcoin first
Investors can buy bitcoin through trading platforms
and list goes on

Even though there are so many altcoins which better than bitcoin but people prefer to invest their money in bitcoin the reason why they prefer bitcoin to those coins since bitcoin is more decentralized than others and safer. Bitcoin isn't suited for small transaction due to higher fee and low confirmation that's why people created altcoin to address this issue. As we can see the price touch the highest point right now it means people trust it.

Ofcouse bitcoin has a great value coin in the past year they have proven bitcoin has a large community and it has an update fast transaction other those coin.

If viewed from the history of course we will know what is bitcoin and others follow behind him. So in other words, this bitcoin is the main idea of ​​coin-coin that many popping now. The new coin is trying to adopt and make it superior to bitcoin. But the virtue of this bitcoin is unmatched by any other coins.

But i do not think that there is any other altcoin which is better than bitcoin. I think that bitcoin is more better than any other altcoin. Bitcoin is in fact the number one currency of the world and will remain as number one for a long long time. not a single altcoin can overcome bitcoin so easily. In fact people have more trust on bitcoin than any other altcoin.

Bitcoin is not the first cryptocurrency of the world but Bitcoin succeed. Many people trusted Bitcoin and It reaches high rate because of too much investors. Bitcoin cannot be hacked by somebody. If every day, many of the people added to the investors of it, Then the rate of it will increase and increase.

Because the bitcoin is highly available here not only coins more important to than coins held now

I personally use eth and ltc to transaction, because I am only a small player and I have to minimize the fee with a fast transaction process,

the only thing that i know is bitcoin can be use to buy something on the internet and although the fee is not stable and the transaction can not be predicted when to finish, people still want to use bitcoin as the payment. beside that, bitcoin can be our long term investment if we believe with bitcoin and don't spend it to buy something. the other thing is bitcoin price itself will be increase in future so people which is hold bitcoin only want to sell the bitcoin when the price is at higher price.

First, bitcoin is the earliest recognized by the virtual currency, Second, bitcoin has the world's top development team, Third, bitcoin's highest computing power of the entire network, the most stable network.

Bitcoin is the original cryptocurrency , means concept of cryptocurrency get introduced by bitcoin in 2008. All other currencies came later. Bitcoins various features like decentralised nature, peer to peer mode of exchange, less transaction fees and secure blockchain security system made him more and more popular. Its restricted supply made it volatile & as a result its price get hiked day by day i.e. $0 in 2008 to $7854 in 2017. Even after ban/ regulations from big countries like China, US, Australia, Japan its price is rising daily. This rising price is attracting more and more traders and investors making it valuable.

Market share and trust that will make a coin better than any other coin. We all know that Bitcoin has a high popularity and it has proved that there are now so many people who are interested and start using Bitcoin as a tool of financial transactions in everyday life. I as a trader would have to choose the right coin and I do not think there is a coin now that can compete with the power of Bitcoin.

Yes may coins BTC today's most interested persons. we can Clay percentage of people buy bitcoin and sell bitcoin, with a high price Aja still a lot of interested with bitcoin of the coin other. price high as there are interested persons.

Bitcoin is in the top and neither other cryptocurrencies will surpass it, because that bitcoin is the first cryptocurrency in this new technology about digital money, This is my point of view about that. Furthermore, I think that people will believe too much in the old crypto, not to the new realated crypto. So they always invest in bitcoin first, and bitcoin will be always in the TOP of  the cryptocurrencies.

i am not expert but i think bitcoin is more valuable than other coins because this is the first crypto currency that come in the internet so it is like a mother of all crpyto currency. also this bitcoin is the most expensive coin now. and no other coin can make the price of the bitcoin now

iam also no expert  ;D but bitcoin core was the first coin and i trust in this coin !
and now iam see bitcoins much on televison so bitcoin becomes more and more famous the other coins need much more time for this.



regards

We have to think what makes one thing valuable. I think amount of people who invest with some coin is the answer. You can find many bitcoin investors but you can not find altcoin investors as many as bitcoin. Bitcoin is mother of other coins. Therefore it makes bitcoin more valuable than the others.

everybody wants to invest with Bitcoin and everyone wants it, so it's natural that Bitcoin is very valuable and looking for people because Bitcoin can make people get rich quickly.

Because of the popularity, Though Bitcoin is the pioneer of this platform, so that people always choose the first one. day by day people is getting dependable on this system. People have started investing and saving of this system. Bitcoin is one of the most profitable platforms so that day by day Bitcoin is becoming popular.
Although Bitcoin is using for various purposes so that people are getting accepted in many countries. I hope Bitcoin will the global currency in Future.

Bitcoin is original currency and it's fit with people's need for who seek cheaper,safe, and faster currency.
So time past by, bitcoin become reliable and it's demand getting increase from time to time !

Btc is the mother of all altcoin, and its development is very fast. So it's a lot of investing in btc.

Bitcoin has a huge market cap compared to any other coin . Talking about the speciality other coins are still not trustable in the same way as bitcoin. There are a lot of altcoins which are nothing but spams . So, there are many trust issues regarding the other coins. Also investing in bitcoin is way more than any other coin .

Bitcoin also started that way. It took a long time before bitcoin reached what it is right now. The only thing i see that comes behind the footsteps of bitcoin is ethereum.

Yes bitcoin price is very low that a guy with bitcoin bought a pizza in the amount of 10,000 btc.  It takes almost 9 years for bitcoin to achieve what it is right now.  Because bitcoin has a name already and it is guaranteed, it is much more valuable than any other coins.