Bitcoin Forum

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?

We often look for the answer of these questions. The twitter handle of CryptoKanoon answered it and I can't resist myself from sharing it with the fellow community members.

The tweet says,


I don't think of anything better can be answered against those above mentioned questions! Want to beat it??

Original content link: https://twitter.com/cryptokanoon/status/1132223935058042880

Yes, in the simplest way of expressing it those are important reasons why bitcoin has become the top and the most recognizable cryptocurrency of all time. Bitcoin is actually not the best and may not be perfect but it is the one which the market is addicted with. In other words, bitcoin is really unlike any other enterprise model we have and the technology underlying it is quite unique and very transforming yet at its essence it is actually just simple.

According to my understanding about it, Bitcoin is purely decentralized based system where its features was too unique, and it is most trusted by the community in the entire world, that's why lot of investors in the entire world embraced and supported it so much. Imagine its price was  kicked up very much without using any advertisement.

At first it seems amazing that Bitcoin succeeded despite not having all those things, but looking at altcoins, it's clear that things like centralized leadership, focusing on marketing before development, private funding and so on, they would actually make a cryptocurrency worse, the point of cryptocurrency is resilience through decentralization, and these for-profit companies always have their own interests in mind first, and users second, while in Bitcoin the core idea is always in priority, and anything that can endanger it is rejected.

No, I don't want to beat it because that answer has already had it ;D
Bitcoin can success until now is because people can have a new source to make money and they can get it by free or with their own money, and they can double or triple their money in trading and another way.
But that will depend on what they do with bitcoin.
The other coin cannot do what bitcoin do because they are following bitcoin as their leader, and they are behind bitcoin without any chance to replace bitcoin position.

In my opinion, bitcoin succeeds not only because of its security, independence or transparency. It succeeds because bitcoin has no owner. Who knows who satoshi nakamoto is? Maybe he doesn't exist

it's a great answer! "No Board meetings" means no people who will empower or push their own agenda for their own good and leave
the rest in misery which a lot of company do right now.

I think this is the best way to explain why bitcoin is a success and why bitcoin became so important in many peoples lives already.
The financial system and money shouldn't be a problem in our lives, it should be an instrument to facilitate it and bitcoin is helping this way, so we aren't fully dependent anymore on the traditional financial system and our inflationary currencies.

People are discovering new sources of income through bitcoin and that is really softening the suffering of many as the opportunities aren't disponible on their villages, cities, areas and regions. Finally there is a valuable currency to receive payments, to save money, to invest and to work with.
Bitcoin philosophy is important, but I believe the practical effect it has in our lives is the most important part of it.

There are so many alt coins that are far better than bitcoin in terms of technology, Concepts and Decentralization but nevertheless Bitcoin  remain the best because its the foundation, the pillar of all Blockchain Cryptocurrency . As you stated, It doesnt have employee, no advertisment , no CEO , alal these features makes it completely decentralized and free from human manipulation or control. Bitcoin will be successful, it has just started the success journey .

I certainly agree with this. Everything is going smoothly and without any conflict and hassle. It's a great thing that it's decentralized which is far from any team manipulation and rules, Bitcoin could still soar high unlike other altcoins which are mostly manipulated by a team. Everything in Bitcoin is simple and yet it still shines among other coins.

There is no employee, no PR agency and no head. I agree with that. But there are so many people helping about ads, so many people using BTC in their social media and so many volunteers works for it.

But still, Bitcoin can be the invention of this century.

Yeah! You nailed it!

And to add it up. It is the only currency we can be sure to call as our own. A revolutionary coin to get raid of the greediness from the people that rigged our national currency for the sick of they’re freaking money.

Soros is getting old to understand bitcoin and will have no time doing what he does best, destroying things on his way. Bitcoin been into many battles in many years and still hodling on, for it is what the future generations badly needed in order to survive.

There are also projects that is also run by its own community like Bitshares which Dan Larimer had left for the community to manage, same thing he did for the steemit.
What is unique for BTC though is that its being accepted by many merchants, its already well known to anyone that its already the synonym of crypto. If I were to sum it up is that We just like BTC more than any other coin.

I will give the following suggestion:

copy and paste this post in all threads of the altcoins section, because who knows with this post the creators of shitcoins will feel more inspired and will start to strive to create good projects that add some value in the crypto world.

With that thinking, are we sure that the godly purpose of bitcoin is the only factor which made it as successful as where it is today? I think not. The moment people started trading it with fiat is IMO what really drove it to the success it is getting right now. Admit it or not, that fact alone help cement bitcoin's legacy status in the financial world, and perhaps without it bitcoin is still within mailing lists and close circles of cypherpunks and enthusiasts wanting to make a change.

It is no doubt that bitcoin's value and purpose is important in getting its success, but there are other factors at play, too.

Well up to my thinking you are absolutely right.. these are  the main factors which made successful bitcoin  in the market.. no need of any advertisement  and so many other things..

That's utter nonsense. No altcoin codebase is more rigorously tested than Bitcoin. No altcoin network is more secure. Altcoins are much more centralized in their mining or staking distributions. Some altcoins may have shiny new gimmicks -- most of which aren't worth porting into Bitcoin -- but "far better than Bitcoin" is simply wrong.

Agree to this, aside from it bitcoin separates people from banks which snatches them their money. Banks usually just gives small interest on people's investment and savings. With cryptocurrency, even with it's risk, it provides people an opportunity to earn more money due to it's potential. Not to mention the convenience of using cryptocurrency vs banks which cut's off a lot of fees and delays for processing payments and transactions.

Bitcoin become successful because it is the first digital currency that dare to offered unique feature, and the first currency that dare to challenge government authority, its a currency that able to give us freedom, these new things are something that most people wanted

It's called first-mover advantage. But the 1 MB block issue will ultimately be the currency's undoing.

Apart from Bitcoin is the leader, because honestly there is no other currency that is equal, the altcoins that have come directly depend on bitcoin, since they have no life of their own, that is why I believe that no currency can equal bitcoin.

And if another currency comes out you should see and wait for it to develop in its history, how long it takes, and that its structure is studyable, in general you should spend at least about 8 to 10 years as has happened in Bitcoin, and that is independent of the value of bitcoin, that does not depend on the price, that has some type of liquidity so that it can compete.

Bitcoin is perfect.  different, safe, and simple.  Bitcoin is: 1. peer to peer transactions
2. global payments
3. low costs. 
Bitcoin was chosen because Bitcoin is a solution to avoid any economic risk.

Bitcoin been an open source code without anyone laying claim to its ownership or anyone single person controlling its network alongside with the economic reward it has brought to its users, its believers are ready to sacrifice to see it improve and succeed. Even the wicked men of the earth want to see bitcoin succeed.

this is exactly what i always tell people when they start comparing bitcoin with altcoins, specially with big ones like ethereum. with a quick look at bitcoin history you can see that bitcoin success did not require any kind of premine by the developer! no ICO fundraising crap! no mass media advertisement, spams,... to fool people into buying it!
while bitcoin was created to solve problems in monetary systems and offer a decentralized payment system, but 90% of the altcoins nowadays are only starting to give money to their developers and nothing else. this is why the altcoin devs feel the need to run a fundraising and call it ICO, IEO, STO,... even they know their coin has no usage or future. that is why they want to get the money up front!

The market seems to disagree, so when do you expect a "flippening" type event to occur? Years, decades?

By the way, it's a 4MB block weight limit now. It's rare to see blocks < 1MB anymore.

This has become more true with the latest development of "GovCoins" and "PrivateCoins" from the Banking and financial centre, where everything is centralized and controlled by a single entity.

We will see a lot more of this in the future and the Facebook coin will be the catalyst for this. People like to follow the example of large successful operations and when companies like Facebook and Google and eBay starts launching their own coins based on the Blockchain, then things will spiral out of control.  ::)

Bitcoin is different
- low transaction fees
- transparent information
- freedom of micro-payments
- secure ecosystem
- no risk of inflation
- elimination of the third party

Yes i agree it is the main reason for bitcoin price increase at the same time there is cons also because of mentioned thing there no regulation and because of no owners its difficult to maintain or take decision it is the main reason there is lots of Bitcoin Fork coins are appearing

low cost is one of the things that is a bitcoin enthusiast, now bitcoin will still continue to run and bitcoin has the most consistent peer to peer costs among other coins.

It is a good point of view and there are other aspects as the idea of a non government money is nothing new and it was stuck by the double spending issue for over a decade, we had centralized currency which is not government controlled but the FBI shut them down really fast and when bitcoin came into existence that was like the eight wonder of the world, a decentralized monetary system no one could shut down and with limited coins in existence and it was the perfect solution everyone was waiting for.

yeah except that bitcoin wasn't exactly the first. there has been at least 5 other similar projects prior to bitcoin but only bitcoin got the "idea" and "implementation" right enough to become big. and it has been 10 years now. saying it still has first mover advantage means you don't know how the world works!

Yes it explains ,
Bitcoin  become successful because people trust it so much and loved Satoshi's idea.
We have seen so many crypto follow it's step and fails because it couldn't really be copied and the explanations give it all why they couldn't copy it .

People are in need, but they weren't able to express or make some changes to the working platform. When this need is identified and innovated through the technology, there happened a coincidence which has taken bitcoin as well the technology to be successful. If bitcoin has got failed then we could have never talked about blockchain and the various other platforms that are setting support platform to entire cryptocurrency network growth.

To sum it up.

NO DRAMA

All it does is exist or be discovered by someone which is Satoshi.
Afterwards, there is nothing else to do. It did crawl its way to this large amount of value but yet here we are. With just a number of years no one really expected this could really happen.
It looked like something that is against the government but why the hell the support is soaring? Are we really that rebellious?  ;D

Bitcoin's sole purpose is to help people overcome their suffering.Very strong and at the same time the exact phrase that characterizes the success of bitcoin.Perhaps many still just do not fully understand what bitcoin is.Satoshi's idea is really successful!

Okay, Bitcoin is indeed helping with some difficulties, and the answer sounds nice. But while I can agree this is what's made Bitcoin successful, it is definitely not the sufficient reason behind the success of this crypto. I think so because I am sure there are many other projects that had the same purpose and yet failed, because of lacking something else. Bitcoin could be another weird nerdy thing if it wasn't for the growing community of its supporters, one of the prominent causes of the formation of which is, of course, this forum. I'd also formulate the following answer to address the reason of Bitcoin's success: Because for the first time people had secure and effective international money that had nothing to do with banks or governments.

Yeah, I do agree to the reasons given by the user on twitter. In other words, it is saying that it is completely decentralized for which it has much higher value than any other crypto currencies.
But, saying that "no other crypto currencies are able to even come closer to it" is a bit exaggerating. There are coins out there that has very good potential. Bitcoin just has its own advantage since it is the first every crypto currency.

Block weight being 4MB doesn't change the fact that the base block size is still 1MB. You can't strip enough data from a transaction to have the block weight increase significantly. Bech32 is pretty much the max of the max right now.

I read somewhere a while ago that Blockstream has a new transaction format that takes up less space than the current formats, but I'm not sure what of that is true, and how realistic it is to have it be implemented in Bitcoin.

We're still waiting for Schnorr to be implemented, and this already may take a year or two from where we are right now.

I agree with the tweets, Bitcoins has become inelastic goods and no matter what the outside influence is it can still survive and make success. Bitcoin if had management or advertising program will have been facing issues like modern day corporate giants around the world.

Facebook, apple are very successful company's with almost all the point mentioned in which made bitcoin successful.
Bitcoin is successful and would even cover more ground latter on basically because of the idea behind it and being a pioneer and also it gives it users privacy and makes easier what when using the orthodox transcation process seems to be hard and slow

The "issue" you're referring helps miners earn millions on top of the block rewards, which no other coin does.

Just Bitcoin's fees per block are consistently much higher than BCash's + BSV's ENTIRE block rewards. If you seriously think that endlessly increasing the block size is the path to success, you don't know much about Bitcoin's economics. There is an infinite amount of demand for free to almost free block space, while Bitcoin's block space is almost an asset on its own due to its scarcity.

BSV is going to raise the blocksize to 1GB this year. Fantastic upgrade with no one but Craig and Calvin using it. Next upgrade is 1TB blocks. :D

Bitcoin progresses due its designed encryption that until now no one has ever know. Who you gonna call to check if there will be developments and upgrades. The community makes it more secured as more and more users out there. But, the problems lie in the field where bitcoin is moving. The field is full of developers who have the common goal, to get rich.

Its success can only be done with the people who support it and from the amount of people using it in their everyday lives shows this to be the determining factor of its longevity.
The other coins just looking at bch and bsv for example shows how not having authentic supporters can ruin a coins success in a very short amount of time.

I also think so.
Bitcoin is something simpler than others and there is no certain aim from a certain person to manage or control.
Bitcoin, with its simplicity but worth, can raise many cryptocurrencies.
During this time, many parties state that they can defeat or replace Bitcoin, but so far, none can do it.
Why? Because Bitcoin is something different, this is worthier than what we think, the trust is very important and BTC has this that much.

Not actually the other cryptos are been copied as per you say but they run on the same network. Blockchain network is the home network to each such cryptocurrency which is been launched considering bitcoins. Bitcoins are turning much more stronger. In the late 2009 to 2010 there were few users who had some idea about bitcoins and with the growing time, the number of peoples supporting bitcoins grew up and until now we can see a vast support to the blockchain technology. Peoples always supports those things which could be profitable for them so I think that the choice peoples made would never go waste.

Thats why there are more and more people are interested and invested in bitcoin. The characteristics of bitcoin makes people attract and even if there are some others coins bitcoin is always preferred. Except for that its good for an investment and extra income.

Basically bitcoins were the first ever cryptocurrency launched to start the decentralized markets. The formation of bitcoins was a wise but cheap which did not cost much for promotion, etc. Bitcoins grew up old on their own and I do not really think that even satoshi was the one who made bitcoins more famous. Bitcoins are possessing various benefits and advantages of being with them which made a lot of peoples invest into bitcoins and that made bitcoins grow from $0.16 to $8500+ and much more to reach. Bitcoins were been created completely anonymously which did not left any tracks behind about the developers and just what was left behind was the source code and the programs which then emerged a lot of similar coins which are yet not comparable to bitcoins.

That's the real deal with bitcoin, and therefore it's nice that the founder will remain anonymous.

Even some people will claim that they are the real satoshi but majority of us here does not believe, and even if there are bitcoin forks that will be created, majority of us here will still support bitcoin and that's the reason why it's still in the number 1 spot now, and it's also holding a huge dominant rate over the rest of the coins int he market.

Bitcoin was the first cryptocurrency that was created and all other coins tried to achieve such success but it didn't work. No other coin managed to rise the value so much from the moment it was created like Bitocoin and no other coin isn't so accepted and implemented in real life, people still trust it the most compared to other coins. I think that is the secret of success.

In my opinion - BTC is so successful because it is simply a really impactful brand and name. People have an impression that if it's so popular then it is trustworthy

Bitcoin doesn't have any administration/consulting expenses. no retiree health plan,  no liability, no overhead cost, no pension plan, no asset, Bitcoin will always be worth something and you can spend it easily and i think that is why bitcoin succeeds.

Bitcoin can be successful because whales support it. People with economic potential, dreams of changing the investment trend of the world. Those who have created Bitcoin's success can be known as heroes of Cryptocurrency.

Yes. It is because of its independency and no central government or person is regulating it. Bitcoin is a master of itself. I really like the answer. This should tell people looking for the downfall of bitcoin to step back. You have no person to contact to regulate it wrongly, no employee to do shoddy work to bring it's value down and the likes.

Decentralized concept is really attract people to join crypto investment world.
I can't see from any common investment type, there is no similar with crypto so they are the first of their kind and it's unique.

Every trader help each other to gather more attention around the world !

I think it's true that only bitcoin has experienced an increase, maybe because bitcoin, the mother of all crypto, and the belief that bitcoin can be applied in real life

Bitcoin and cryptocurrency in general is definitely the future. I really like the idea of earning money with the help of my computer. This money will allow you to pay for purchases or services anywhere in the world. It is really very convenient.

Because the number of communities in the crypto circles is increasing, merchants and online stores have received a lot of bitcoins as a means of payment. Because it is obtained by means of mining, some people refer to Bitcoin as a hidden digital gold. They believe in the future, Bitcoin will give a higher value than it is today. Consequently what?

Some people are willing to buy miners ' bitcoins at a higher price. Although only a few people, but the numbers continue to grow.

Indeed! There is no one or nothing you can see controlling Bitcoin. There is no one or nothing from which Bitcoin took its direction or orders or whatever. Bitcoin is an idea. It is like an air, you cannot control it, you cannot hold it in your hands; it doesn't escape, it is simply free. And yet everyone is breathing it. And now you cannot avoid comparing it to our existing fiat currency. It is the complete opposite. No need to ask why people would prefer Bitcoin over fiat.

No one has to take Bitcoin over in order for governments to get what they want and already have, which is an insight into your finances on centralized exchanges, and they can seize your funds if they find it necessary.

People keep saying that they like Bitcoin's decentralized nature and that banks suck, yet continue to use exchanges as online wallet, which is the complete opposite of what you seem to support.

A centralized crypto exchange is even worse than a bank because they are more easily triggered to block your account until you provide them more personal information, or they will remove you from their platform entirely.

At it's beginning,,bitcoin looks very egalitarian in it's core.This must have been a big reason,why the early adopters started mining btc and spreading awareness about the first cryptocurrency.
10 years later,the egalitarian nature of btc is gone.There are big miners,big crypto whales and big crypto exchanges.The myths about zero fee instant transactions and 100% anonymity are busted.
However,the lack of complete centralization is still a big advantage.

Btc was successful because it was the first of it's kind to be seen at that time, many people got fascinated by the intelligence behind the technology, btc was the first cryptocurrency to exist, just that alone is enough to draw people's attention,

No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

this above factors/features was not really required to draw attention of great minds who sees endless possibilities with this technology, but in this present time, no project will last a day without having the above mentioned, it will be like child's play 8)

One of the main reason for Bitcoins to be the most successful and popular Cryptocurrency is that it's decentralised.
As the tweet says, all these things make it so trustworthy
Bitcoin prices go up without any advertising, this shows us how popular and trusted it is among the people.
It is like the USD of Cryptocurrencies.

What I can say is Wow! The above things can be sum-up into one.

No overhead.

But this statement really struck me.

.
The real reason why Bitcoin exists is to change our lives. It is true that many lives were uplift and have given second chances. Dreams were fulfilled and needs were met. Most importantly it brings hope to everyone. And because of that, it became successful.

No social media is no longer accurate, hasn't been for a long time. I recall slashdot driving up adoption just from all the discussions around it. Not to mention all the awareness from this forum and from wiki, who are still high up on Google search rankings anywhere in the world.

But of course, I get what you mean. Shouldn't dismiss the element of luck as well. And the convergence of other factors. Global economic crisis. Internet penetration. Cheaper consumer devices. All the regular shit driving tech adoption.

you have said it all.

Bitcoin has been more known to the people not just of its real essence as a decentralized crypto but it also becomes more sucessful because it is clearly lifting the people's economy and bring them into progress. I have never known a coin who can be very useful like this except for bitcoin alone.

I believe that btc is not the best crypto we can get. I believe we can create something even better. Anyways, this post makes sense.

Every cryptocurrency is actually decentralized, I think it's popularity is down to the fact that it was the first coin to be created and it has developed far much quicker and better than the rest
Bitcoin adoption is taking quite a great step and that's another reason for it's success, bitcoin is now very much accepted among individuals and nations, and it's adoption continues everyday.
Bitcoin is the king of the cryptocurrency world.

Its no surprise to me that bitcoin is successful in this cryptocurrency industry. I believe bitcoin is successful due to it being the top and leading cryptocurrency on the market and supported by experts.

There are many reasons why Bitcoin is successful. First of all it is security, so far the lost bc cases can only be leaked their security keys, there is no case the BTC platform is hacked. The second is the first currency, it can be said that this is the father of many other currencies, as a teacher who leads students to develop. Finally, it is the spirit of it, no one knows who the creator of BTC is, these are also mysteries that make us curious.

Yes, there is always a room for improvement, I agree with you on this. But as of now bitcoin is the best when compared to the other crytpos that we have.

Bitcoin can be successful due to many factors as you mentioned. But I also argue that the success of Bitcoin because the system is not set and anonymous users. Bitcoin has a very large value due to the acceptance and demand is enormous. In particular, Bitcoin can be traded worldwide and people earning money from Bitcoin are not taxable income.

I hope this Bitcoin success can continue to happen. This industry needs to be developed because it generates great profits.

Bitcoin is the father of all crypto-currency and also first published cryptocurrenc, so bitcoin is automatic choice for it’s familiar face, bitcoin is the most common and familiar cryptocurrency all over the world at present, so domination is nature of bitcoin yet!

Bitcoin is successful because it never comes to zero. It has a greater value than the other tokens which is better to invest in here because you will profit as long as you know what to do. This is really helps many people especially poor people having no work.

According to the research that was conducted by Rodgers, innovations that are simpler stand a chance to be more successful than more complex innovations. It doesn’t necessarily mean that the innovation needs to have a simplistic underpinning, however it needs to be easily understood. Also, it needs to be user-friendly for the target audience.Compare that with Bitcoin, which only costs roughly the price of the transaction necessary to convert existing currency and which has appreciated considerably in the four years of its existence. In other words, instead of being penalized for being an early adopter, you’ve thus far been rewarded. Another thing that makes the success of bitcoin is the trust of the market, the stable development with the solid foundation that has brought success to today.>:(

Yes, BTC has those major advantages. I think BTC needs more awareness, actively usage in daily life rather than HODL, credibility and trust in order to be reach its deserved success because with those major advantages BTC deserve more. There are vast majority people of who are ridiculously sceptical against BTC.

Yes, i am fully same mentality here with you. Actually people was trying to a new era or new transaction system that with break general transaction system. Here bitcoin is successful because there no middle men or big boss so that here anybody can easily make transaction without any threatening. Here is also time saving and risk free everywhere. So that,s why i think BTC is successful.

The reason behind the success of bitcoin? The answer is the technology behind it: the BLOCKCHAIN.

Ever since the creation of bitcoin, the blockchain was developed in order to solve and eliminate the need for a third-party in handling our resources (i.e. banks, etc.). Another purpose that it covers stem from its very nature and convenience- cash and anonymity, which not every e-currency have. When people started to see the potential in bitcoin, its price skyrocketed the market and still continues to surprise almost everyone who has bitcoin stored in their respective wallets.

I just hope that people realize that bitcoin is more than its price. What is really valuable is the blockchain technology and its limitless potential in the future when applied to almost everything in relevance with transactions and data.

 ???

These guys don't think like you:

ICE Releases Initial Margin Limits for Bakkt’s Coming Futures Trading (https://cointelegraph.com/news/ice-releases-initial-margin-limits-for-bakkts-coming-futures-trading)

Winklevoss’ Gemini Crypto Exchange Launches Custody Service (https://cointelegraph.com/news/winklevoss-gemini-crypto-exchange-launches-custody-service)

Japan: Bitcoin Surpasses XRP in Yen-Denominated Crypto Holdings (https://cointelegraph.com/news/japan-bitcoin-surpasses-xrp-in-yen-denominated-crypto-holdings)

bitcoin is increasing its adoption

You're only talking about price. That doesn't say anything about Bitcoin's success as a peer-to-peer currency constantly increasing in adoption.

Your attitude reveals something about your true motives: Your primary concern is profit. That's obviously why you promote altcoins like ZEIT while constantly bashing Bitcoin.

This pyramid just perfectly explains the success of Bitcoin. I agree, Bitcoin was created to help people get rid of third-party control and destroy centralized financial management. This makes the coin valuable and successful.

It is simple, the anonymity behind bitcoin is what keeps it going. That is the candid explanation of what bitcoin is all about. There are also no known founding  members who may want take advantage of people and be organizing press conferences after falling apart from the rest of the team.

when it comes to anonymity many coins can offer more than what bitcoin can do but bitcoin is just the first crypto to have anonymous feature so it got alot of supporters  .

what pyramid  ? you mean bitcoin is a kind of pyramiding scheme ? bitcoin works like a pyramid though but it does not end instantly because the value recovers before it plunges into zero  .

by using bitcoin we still need to download bitcoin wallets and most of them are i think centralized and often called as third party apps  .

Because of anonymity

in this context "third party" is referred to someone else that takes control of your money. bitcoin wallets don't do that. and you downloading one doesn't mean you are using a third party nor does it mean they are centralized! all bitcoin wallets are open source and have nothing to do with centralization! not to mention that you will be in full control of your bitcoins.

if it is other than what i said, then it can not be called a bitcoin wallet. for example you can't call Coinbase, exchanges, closed source things like Coinomi a bitcoin wallet.

In my understanding it is the decentralised feature and the technology that has created the place that it standing now.

Every thing that states adoption and promulgation have this pyramid system as a core.  Government structure, offices structure, and even the population growth has it.  It is the universal blueprint of adoption and development.  One thing I understand why Bitcoin is successful, many people are fed up with these third party that controls their finances so they wanted something new that enable them to direclty transact with other people.  It is sad that for others, only the profit gain indicates the success of a project and believe that it failed once it crash in price.


Bitcoin is not fully anonymous, because it can trace the addresses used on the blockchain and once one of the source address is link to a certain bank account, then your identity can be traced.

Bitcoin is successful because all over the world bitcoin attracts people like big whales investors, many rich people involved in bitcoin because of the tempting price of bitcoin last 2017.its very expensive and everybody's expecting for the price increase of this coming year.

Seriously, that is what can get us to the promise land, many of us thinks that holding is what will make the value increase, but as we hold, it does not stop of from using it for other things, but this forum user said, I have forgotten his name or handle, there is no way that we can spend bitcoin if we don’t have where to spend it.

I think the awareness that needs to be created first is the one that will cut across, merchants and business people, we need establishment of payment processors and there is need for people who are into buying and selling to start using it, it is whenever we see what we can spend bitcoin on that it will also encourage us to release whatever we have in our spending wallet and not just focus on holding it down.

Many people who previously did not expect that cryptocurrencies had tremendous potential to make money. Especially for Bitcoin and experienced the peak of success occurred in the year 2017. The price of one Bitcoin is incredible and many people suddenly get rich.

This increase in Bitcoin occurs because this coin is number one in crypto. I think the condition of 2017 can be repeated again at the end of 2019.

well you have a very good point , all other crypto assets with their teams and meetings and media hype still fail to do as well as bitcoins. Lowkey showing that the media and too many team members are not in any way a sign that a project will do well in this space

If he does not exist how where people able to com up with his name? and if that name is really his, then he should have been discovered by now, but then it is still all a misery

well said, I totally agree with your opinion,lets see exactly what the future holds for our favourite bitcoins. Holding alts has been weird of late btw

Satoshi Nakamoto was a person or a group of people, because the protocol could not write it self, it could also not post on this forum or interact with people online. Someone fired up the first node on a computer and they shared the Bitcoin White paper with other people to explain the concept.

The genius behind this makes me think that it might be a collaboration of several people and the fact that they covered most of the loopholes and exploits is proof of that.

The fact that they created this without No head, No funding, No employee, No PR agency, No Social media, No advertisement and No board meetings is simply astonishing!

I partly agree but then, why is the exact same blockchain technology (or even more superior technology than Bitcoin if we're being honest) not working to give other altcoins the same success?

Blockchain isn't enough is the answer. Bitcoin also has a lot of other things. Hashpower securing the network. Loyal community of merchants and users. Volunteer nodes and developers who run it not for profit. All these!

I think the most important aspect of the success about Bitcoin is that of it decentralized process of existence among all other cryptocurrency. Its just a project with success and never attached anyone to the success, no controllers, no intimidation from owners, a technology that give freedom for all to be their own self bank and have full control over their wealth. Sometimes, Bitcoin wonder me about it success when I see other coins struggling with the regulations and government, like Libra coin.

If it looked egalitarian in the beginning it was by accident. For starters, everyone did not own a computer. And everyone did not own a farm of computers. even in the old days, the race was on and some people simply had more capital to invest more into mining than others.

Mining in itself is not the reason to be for Bitcoin, and as you can see, only 10 years later is starting to look uninteresting. Eventually all those big miners will leave as it becomes unprofitable to mine at any scale, and only a few hobbysts and those with free electricity will remain..

I don't know what you think "instant" means, but a Bitcoin transaction is lightning fast next to a regular international wire transfer. It might not compete against a debit card (without LN) yet, but for almost anything else its better. 1 hour wait? next to 1 week wait?

Anonymity still depends on you. If you mine it yourself, or if you know how to purchase them. Anonymity wasn't really its core feature, the blockchain is public anyone can follow transactions as long as you disclose them.

Most of your comments seem to be your own self made pre-conceptions. Bitcoin is still Bitcoin, it didn't came here to end inequality or give you anonymity.

Although whales have their own positive side also, but the damage that they later cause to the market is something that cannot be comprehended. If there were no whales, the market would have been growing without seeing much panic sell that usually do pull the price of bitcoin down.

Whales started this problem since 2017 when they suddenly entered the market to make some moves that was not in line with how the market should have moved, they pumped money in which made the value surge and most people fell for it out of fomo, and that was the weakness that they saw in us that made them dump the coin and many of us panicky sold into their hands, but despite all their manipulation, bitcoin still manage to survive and that is the success story.

you have only look in one direction or have focus on what you are doing.
Bitcoin is not a job, it's just a currency, what you are doing in front of your computer is you are earning bitcoin through signature campaign, and yeah, you are your own boss as you hold your own time, but you can also do it with other online job with different payment method.

Lastly, don't think too much that signature campaign is a job as it's not.. it's just a privilege to earn and it come go away anytime.

I think it is more or so because of :-
 Globalization
 Better job opportunities
 Volatility makes a good trading opportunity
 Well known
 Biggest crypto
 Needs less documentation
 Trustable
 Gives freedom to people
 Not controlled by the government
 No set time limit for encashing or buying
 ..etc..

This is not quite right. Bitcoin is the father of great Blockchain technology and it's replacement is Bitcoin, but Bitcoin has many challenges to overcome, there is so much work to be done, just like on all Altcoins. It has to find a reliable proven scaling technology, which we may already have with Lighting network or Liquid, but we don't know for sure yet. It needs to have much better UX for second layer wallets on all platforms. It needs to gain the long term trust of billions around the world. Ethereum competes on different aspects that bitcoin doesn't compete in. Ethereum is for the whole dapps and ICOs type of stuff. So Ethereum might be used more like a "virtual stock exchange" or smart contracts type of network whereas bitcoin competes on store of value and medium of exchange as lightning network.

There are so many people I know that bitcoin help them to solved their financial problem, and you won't believe it, they are doubters of bitcoin at first, but now they are all bitcoin enthusiast, first impression is always wrong I guess. They was struggling to support their family financially in the year 2016, so I tried to be a good samaritan and introduced bitcoin to them, they was having a hard time also understanding how it works

but in the end they managed to make it through.

The first and foremost reason is the anonymity blockchain transaction offer.Also, BTC allows people to send money to any place in the world at very low costs. The transactions are completed faster than the normal transfer between banks. Seconly, the BTC transactions are extreemly secure. It is very difficult someone to steal your money when we talk about BTC wallets. Although, there are ups and downs bitcoin has a big potential. We see that BTC is going up but i think in the future BTC will become stable. What do you think will BTC become stable?

No questions raised, bitcoin is enjoying its dominance in crypto space because of the reputation it planted through out the years of its existence, and no alternative currencies has been overthrowing it from its position. Looking at the convenience it offered the crypto space, who wouldn't to have it and use it as their currency for their transactions. Peoples freedom to fully control their money is the biggest reason of the dominance, and the anonymity of every transaction laid by the blockchain technology will also add up to everything that convinced  the traders, investors and businesses to patronize bitcoin.

This is the best but i wanna add “Unlimited break and lunch time” 😅😅😅

Without anything for bitcoin no management, meeting etc. but promtion is have people promoting bitcoin through internet soical media, that why bitcoin today is popular and successful by the help of new technology bitcoin popularity as new currency is easy to,spread the world about this important information to encourage people to learn and asopt bitcoin.

Are you referring decentralization? The fact that you said you where no one can control bitcoin because it's decentralized. That's why investor and other users wanted it because of its potential as an independent cryptocurrency.
Another thing is having an anonymity gives great factor for those who wants to do transaction secretly but the tx is recorded and transparent in the block chain. But still, bitcoin is being promoted by other people who is affiliated to satoshi or admins, some of it are are being promoted in social media so I think they're still doing and have social media. I don't know if it's legit but if satoshi really created this forum, then theymos is one of the employee here, but not in bitcoin, only in the forum.

It is a so simple but nice explanation for Bitcoin's success. Bitcoin is the oldest and strongest cryptocurrency in the market. People really liked it and started to use it. Investors chose Bitcoin to invest in mostly.