Bitcoin Forum

Many other cryptocurrencies have been improved upon based on Bitcoin. In other words, Bitcoin must be inferior to them, but why is Bitcoin's value number one by far?
Why is Bitcoin worth so much? ???

I really want to laugh when you say that Bitcoin is inferior to other cryptocurrencies. If you have understood the ten years from the birth of Bitcoin to the present, you would not say such stupid things.
Bitcoin is the prerequisite for the survival of other cryptocurrencies. Without Bitcoin, there would be no cryptocurrency.

Because it is Bitcoin and it's number one. Check my profile text!

Bitcoin disrupted the digital finance in the first place and this altcoins just followed and that means they are the inferior. It's understandable that you will say such things when you're new to crypto and doesn't yet understand lot of things but sooner or later you'll probably realize why Bitcoin is atop and it has by far has the huge market cap. Bitcoin has the most secured network of a digital asset even today. DYOR more lad!

No they're not, most of altcoins created that said has better than Bitcoin or solving a new problem which Bitcoin can't solve it isn't really true.

Example XRP


They claiming to be decentralized as Bitcoin, the truth isn't since the validator is only few person and all of them are from Ripple's company. Bitcoin use energy, it's since mineable and not like XRP they created out of thin air. They could create billion coin for them and become rich, however Bitcoin energy isn't so that big. The usecases aren't same since XRP isn't decentralized of course Ripple is controlling the coin.

Regarding the Bitcoin price, it's came from a lot factor such as the utility, decentralized, trustworthy and exist since long time ago (as a process to be adopted by people)

That doesn't answer the question though, you are just describing bitcoin for what you think it is which is pretty subjective. For me though, I think the reason is it's utility and it's ability to be used as a means of currency or as an asset.

It's scarce, so people simply consider it is worth a buy at $41k. When markets pump, the demand is so high people think it should be worth more. When the market drops, it's the opposite. Bitcoin is literally worth as much as people want it to be or think it is worth.

I share two long articles for you to read. I am sure you will find answers after you read all of them.

The bullish case for Bitcoin (https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1)
Equivalent Network Time (https://bitcointalk.org/index.php?topic=5331087.0)

You will get points that Bitcoin will become more scarce with time and miners will have less Bitcoin reward from mining with same resources they spend to mine Bitcoin (energy, rigs, time).

1. About the price, of course. Bitcoin has always influenced altcoins, not the other way around.
2. Bitcoin gets priority trading pairs that are featured on all CEX main pages.
3. Bitcoin always dominates cryptocurrency-related news and on some social media.
4. Bitcoin is the main choice of crypto that most well-known companies are planning to adopt.
5. No matter how stupid newbies enter the crypto space, they will slowly realize that only Bitcoin are worth holding onto.

Thats because its the first cryptocurrency and the reference of all cryptocurrency chain. Regarding its position, therr is no doubt that it will still the king of all projects as many people knew how valuable the technology it imparted. Some used it as guide with its technical and mathematical information to sequential process of blockchain.

Its worth is depend on the people since its an open source digital asset. As long its deemed valuable then its price could increase or decrease in the future.

Maybe because it is a workable solution to certain of 'Jacob's troubles (https://www.bitchute.com/video/D8KtN3WWHlYR/)'?

You put it into very simplified terms. It is worth what people want it to be worth. The thing is though that the scarcity which is a core characteristic of Bitcoin could even be further amplified by market manipulation. If exchanges cooperated, and they probably hold a large chunk of all BTC in circulation, they would artificially increase the scarcity even further, overemphasizing demand by holding back supply. Bitcoin is a playing field for manipulation for sure.

Bitcoin worth so much more than you could've imagine because it is now getting normalize in some countries as a currency.

Although it is not that popular enough but many are adopting it and getting into it as an investment and to secure their future.

Hoping that more people could see the importance and advantages of bitcoin into our lives, especially that there's something more to it that we should explore.

Crypto lovers is has full awareness about the usefulness of bitcoin and it cannot be denied that being top of all cryptocurrency, entire market relies on every trading pairs which mainly constitutes with each specific swapping. Without this market, I don't think other coins will survive along every corners, because btc is an established asset compared with other following altcoins particular with newly launched projects.

if gold could be mined for $2 in peoples back yards using a coffee filter and a spoon. gold would only have a lowest spot price of about $4 and speculate $4-$10

but gold costs $900+. with diesel, labour, excavators, sluice machines..
meaning its lowest spot price would be about $1k. and speculate $1-$2k

..
bitcoins mining cost depending on region(nations electric price) $25k(china)-$65k(germany)
with a lowest spot price of like $28k and speculate $28k-$70k

the philosophy (the loyalty the patriarchy) gives strength to mining desire
alot of people store value in bitcoin, which adds more loyalty, patriarchy to the philosophy

other things like strong merchant support from exchanges
well established development team (pro and cons) adds more strength to it compared to alts

many people feel bitcoins protocol wont break. but other altcoins could break due to weak decisions.
..
economically bitcoin is used as the base currency all other coins are measured against. or gatewayed into-out of which adds more strength to the philosophy(demand)

The "first mover" in any market often has a strong monopoly that is hard to break - Bitcoin was the original, has been around the longest and has a relatively low total cap. Many people have heard of Bitcoin through the news and media, but even that took a long time to break into the mainstream. Eventually I think the limited number of Bitcoin might actually lead to it losing the number one position and Ethereum is getting a lot of publicity right now - it has room to inflate as more people use it, which will really be required if we want lots of people using it for all their microtransactions. That will really make it into a useful day-to-day currency for the masses.

Let's not ask the same questions all over again! This has been asked literally hundreds of times so far, can't you read?

Let me respond by asking a counter-question: Why is gold so valuable? There are other metals, for example, carbon steel or titanium are stronger and more durable, tungsten is almost equally dense, copper and silver are better conductors of electricity ... In other words, gold must be inferior to them, but why is gold's value number one?

More than scarce, I think it's more of the perceived value of bitcoin in the market, it just come to this point that bitcoin's designated price just grew in parallel to it's scarcity. Plus isn't the utility of the coin another reason for it's value and not to forget the privacy that it offers.

Wrong.
Many other copies of bitcoin were created where they make changes to bitcoin protocol and introduce weaknesses to an otherwise secure protocol. Sometimes it is with good intentions such as testing other technologies and sometimes it is out of lack of understanding of the technology. The result however is the same poor altcoins.

This makes no sense. It is like saying the Chinese rip-off of a brand is better than the original product!

Because bitcoin is the only cryptocurrency that has innovation that works as it is supposed to and delivers on all that it promises.

Bitcoin is limited in quantity, with only 21 million Bitcoins ever to exist in the world. It thus retains its relative value just as gold. It is also secure, decentralised and highly efficient for transactions
Thats why bitcoin is worth so much

I can see  you're a newbie and still wondering why Bitcoin is the number one in terms of the the price and considered as the King of all cryptocurrencies. The  value is increasing as time goes by because of many reasons;
- Blockchain system
- Digital payments
- Companies accepting bitcoin
- Pro bitcoin governments
- Innovation adoption
- Investment
- Popularity

As many were amazed with how great this Bitcoin use to grow and develop, the value of it continues to rise, too.

I do believe there are a lot of things like :
Trust
Simplified application
Marketing
Backed up by more people
More popular than most
Have been in the market for a really long time
Improvements which are being made every couple of years
Wider practical applications
I understand for a fact that you might consider bitcoins to be inferior since at the end of the day it does not have much complicated base in contrast to other cryptocurrencies like : ETH but that does not mean that they all have to compete, they are very well in a synergistic relationship.

why bitcoin is very valuable,?? the answer is very simple, bitcoin is a rare item, bitcoin is also a new civilization, which emerged with the development of the internet world, because its value can also be said to be expensive, so many people choose to invest in bitcoin ..

First mover advantage? Lots of huge companies trusting bitcoin more than any other coins? Established market with lots of traders, businesses, and companies involved? There's a lot of things that contribute to the valuation of bitcoin, and those that I mentioned were not even half of it. While it's true that the technology, the gimmicks, and other goodies are superior to those new coins compared to bitcoin, some of those are not really useful to those who will use it.

Simply because it's well-known and trusted. It has caught the trust of most people because of its function and the convenience that it provides as a currency. However, it doesn't mean that it's better than other currencies but it has an advantage since it's the father of all cryptocurrencies. Compared to the traditional currencies, it provides convenience, and its volatility has an edge when it comes to investment.

why bitcoin is so valuable,?? the answer may be because bitcoin is a rare item, mining is not easy, because its value can be said to be expensive, so everyone wants to play in bitcoin, and dare to invest in bitcoin..

It's not the most useful thing that often becomes valuable. Gold has been mentioned here before. It's not a great metal to make strong things, and there are cheaper stones that look better than it does. And yet it's more valuable because people trust in it and believe that it's valuable for subjective reasons. So Bitcoin doesn't have to be the most useful to be valuable. Also, when it comes to Bitcoin, there really isn't much improvement after it with altcoins. PoS and private blockchain have their pros and cons, so they aren't necessarily improvements, and smart contracts are useful, but not very convenient, so they are not a big enough improvement to make Bitcoin obsolete. If someone solves the scalability issue once and for all with some crypto, this could be a big enough improvement. However, it also has to be made in an attractive way because IOTA allegedly solves the issue in the long run, but the early adoption stage is highly centralized, and there isn't enough interest to go through it.

Lost? LOL

Since when did the King lose first before his soldiers who were lying drenched in blood? You think this is some kind of war between Athena and the Spartan coup?
Don't be fooled, life is too narrow to conclude Bitcoin's defeat in times of massive adoption. How do you explain this before the court on what kind of basis can we refer to to beat Bitcoin?
You will only be made a suspect and the king will immediately take action against the coup?
Bitcoin is no longer a small child, and he is still standing without needing to ask him to walk.

This actually what makes blockchain technology different from everyother technology that has ever existed. For crypto currency unlike other currencies Bitcoin upon which other digital currencies are built upon has a highly secure database with open source and transparent network. Every other digital currency or altcoin only build upon what has already been built and non has succeeded to improve on Bitcoin and I doubt if there is any lapses in bitcoin except for the high energy consumption during minning.

to be more precise bitcoin is the grandfather of other altcoins. bitcoin is older than other altcoins and the market is more plentiful and reliable.
From another concept, bitcoin is the figure that influences the movement of other altcoins.
so clearly bitcoin is very valuable and valuable than other altcoins, the measurement and determination of the market is determined by the price of bitcoin.

First of all I doubt that there many other cryptocurrencies are actually better than bitcoin, they say they are but that doesn't mean that they actually achieved that goal, that been said you are completely misunderstanding what gives bitcoin value, one of the reasons bitcoin has value has to do with the network effect in which the more people that use a particular product and service the more valuable that product or service will become, this is why social networks have value because they have billions of users giving them information for free.

How could something so revolutionary which provides people with more freedom and a way of getting wealthy and not work a normal job be worth so much? Silly question because Bitcoin has many advantages over fiat currencies even if I was not to include the ones I have already mentioned in this post. 

Bitcoin is the first cryptocurrency that succeeds in its goal. There were multiple attempts to create a cryptocurrency, but that wasn't much success. You can read this article  Were There Cryptocurrencies Before Bitcoin? (https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/). So it's called mother coin even many altcoins have been creating. The reward process of Bitcoin makes it more popular since at the beginning people earned Bitcoin by mining. Bitcoin is still most secure than any other altcoin and worldwide accepted by the community. You can see altcoin community is very limited. All the altcoins aren't true decentralized where we can say Bitcoin is truly decentralized. Most altcoins don't have any real goal, just raising money and keep quiet. But Bitcoin is the same from the beginning. Just research yourself and you can discover many things why Bitcoin is worthy than other altcoins.

Bitcoin is very valuable because Bitcoin was the first cryptocurrency and also still the most in-demand...

Just compare the number of Bitcoin transactions with other cryptocurrencies and you will see a huge difference, other more perfect cryptocurrencies don't have that much appeal.

I never asked myself the question that OP asked about bitcoin. Because it is logical to think that bitcoin was the one who gave rise to all those cryptocurrencies that are better because they have more use cases.

However bitcoin deserves the position and credibility that it currently possesses and will be forever. The reasons have been evident there is support by all who contribute in the permanence of bitcoin a dominance 46.4% is an important number.

We cannot live in the crypto space without bitcoin, there are those who believe it and others do not, there lies the freedom in making us free to choose.

There's always a thing called "demand" and it doesnt matter if this one is a bit outdated compared to new ones but we cant really just throw out on where all these things had started?
Bitcoin is the first cryptocurrency and its just right that it would really be having that kind of treat up or recognition by the public since its the origin and you cant do anything about
it if it turns out that majority or the community is  really eyeing on the king of crypto. It wont really be reaching out all time highs if it werent popular in the first place.
Alts would always turn out to be alternatives as the name suggest but we wont know if there would be some switch up in the future.

I have a full doubt if there would be a switch for Bitcoin in the future if decentralization is removed then don't expect it to happen since most government like to control something especially when it's a money/assets. If more people continue to support Bitcoin then there's no need to look for something that's also based on Bitcoin, they were just a copy/imitation it's less worthy.

We do have a lot of altcoins that's trying to be the next Bitcoin but I don't think someone would make something like Satoshi did. They made an innovative technology that someday we'll gonna use against bank and this one cost their freedom that's why they have to hide forever and stay out of sight since the government want to seize their invention.

Well there are many coins trying to be Bitcoin, but Bitcoin already solved what others are even trying.
It is like Bitcoin is already about to go home, while they are still on the way on their destination.

Well, it could be --the uniqueness of its kind.
Bitcoin is a pioneer and it has a real use because it was created with the purpose of alternative in fiat so this relatively considering as fiat, plus another factor is bitcoin has a fixed amount so it means, the price now is a matter of the demand and supply since the amount of bitcoin was fixed. The purpose of using as an alternative to fiat currency was not to have an effect, instead, people are saving it to store value, when there is more holder in bitcoin the price will grow up easily because of the demand will increase and the supply will decrease.

It's like a lot of coins have been tried to beat bitcoin but none of them succeeded. Simply, because bitcoin is the number one and the most trusted digital currency in the market. No wonder that bitcoin has the most expensive value that everyone who gets to know bitcoin are definitely craving to have it even a single one.

And having bitcoin as a store of value also made it worth the keep. Not just in trading bitcoin you can make huge profits, but even by simply hodling bitcoin, the result is still worth the risk.

You don't need to get angry about why Bitcoin has been valued so much. If you could analyze carefully, Bitcoin had places some importance in the market today. If you could see that Bitcoin has been made to use as a currency and people are satisfied enough to use it again and again. If only that all countries are supporting Bitcoin, we can absolutely be seeing that its market demand will be high and the price is shooting up high as well, maybe we are about to reach more than $100k.

There have been many projects created to beat Bitcoin and there are also some old coins that are predicted to replace Bitcoin. But all of them ended up
failing, until now Bitcoin is still the best and gets the most trust from investors. Even some institutions entrust their money to invest in Bitcoin in
the long term, all that makes Bitcoin very high value. It's not surprising that Bitcoin always dominates the market, so this confirms that Bitcoin is
indeed the safest for investment compared to other coins.

bitcoin is valuable because bitcoin can be said to be the number 1 coin and controls all existing coins, where when bitcoin falls the value of other altcoins also falls, and if bitcoin doesn't exist, surely other altcoins will not be born
simple answer from me

Because it is the King of crypto and most invested among the other?
It is worth so much because there are so many investor trusting it and putting their money on it so the price continues to increase.
And for me it is the main crypto I mean most investor focus most of their investment on BTC and liquidate their alts into BTC when they feel like doing it.

with its high fluctuation, I think it is attractive for speculators and investors to join this business. although bitcoin has not yet reached its main function as a currency, but with no one stopping bitcoin, it is believed that many people will have a bright future, with more and more people adopting it later, and many people hope that bitcoin will be legalized soon

You should know that bitcoin is the first cryptocurrency and will remain the leading cryptocurrency.  
It is actually funny you would say bitcoin is inferior to altcoins simply because they were built after bitcoin. You didn't stop to think that since bitcoin is the first coin, all other coins would not exist without it.
Bitcoin worths so much because of its adoption. It is the most widely adopted and of course most widely used cryptocurrency in the world.
Trust me, bitcoin is superior to all other cryptocurrencies.

The easiest answer would be, check how much electricity consumption it needs to mine one bitcoin. Just as the other products and services that requires energy, that's how they become valuable. And as for bitcoin, its mining difficulty is quite high so it reflects to the price of it.
It's also the first cryptocurrency so all the value that it has been throughout these years have been with bitcoin and with halving, it's adding value to bitcoin as it increases mining difficulty.

The success of crypto is of course due to the bitcoin factor, and now bitcoin is increasingly being used for transactions and investments, many large companies continue to develop bitcoin so that bitcoin has always been the leader of crypto.

bitcoin is very important because it's like the main source in the market of some altcoins in my opinion and its happening actually ever since before wherein only bitcoin were very popular around the space, indeed those alts will not follow if they didn't measure in bitcoin. So don't be confused why this thing is happening right now.. Just accept the fact instead that bitcoin is the leader and those altcoins below are the followers whatever happens in the market.. If sometimes they all showing different direction it means it depends on the situation. But its very clear to be honest that they are relying with bitcoin reason market always struggling when there's w manipulation in bitcoin.

What I do know is that btc is a pioneer in the crypto world, and we know that pioneers will have the highest prices and become the most desirable crypto. Besides that, btc also has good prospects where the price can soar high. Btc is good for long-term investment so we really have to be more patient to wait for it to have the desired price. Investing in btc will be very profitable but it also depends on the investor himself, if he can process it well and can analyze the market well then that will be great. Investing in btc requires patience and consistency in it. Persistence is also needed because we know that the crypto market goes up and down and that makes a lot of people depressed if they are not have mentally strong.

There are already a lot of topics here on the forum where you can read the reason why bitcoin worth this much. To be real short and quick, I can see the main reason to being the new technology and since bitcoin is the first technology allowing people to protect their privacy and remove third parties in their transactions, there is huge attention to it and this huge attention will bring huge demand, also having a limited supply will do the job. Resulting, more demand and less supply will make the price rise.

it's true as you said my friend, why bitcoin is very valuable because bitcoin is the safest asset, and also the most profitable and trusted investment, in fact many people have withdrawn their money from banks, and switched to bitcoin investment, because if we save money in the bank, we will not get any profit, but in contrast to bitcoin, we will definitely benefit, that's why many say bitcoin is very valuable..

The most important factor that is to be considered here is 'Trust'. Most of the people trust bitcoin for what it is. Bitcoin has got it's value from people's trust.
Bitcoin is not inferior to altcoins because bitcoin is best in it's category. A truly decentralized peer to peer payment method.
The trust factor has made bitcoin not only a payment method but also has made it a store of value.

it's true as you said, bitcoin is the first crypto on the market, bitcoin is also very limited so until now bitcoin is still very valuable, even in the future bitcoin is still very valuable, because we can see the longer bitcoin develops, the more people hold and invest in bitcoin, until now there is even a government that has legalized bitcoin, that's a sign that bitcoin is still very valuable..

Technologically, bitcoin is still number one. Many other coins imitate bitcoin technology and equate to bitcoin.
why bitcoin is still number one. That's because other altcoins still rely on bitcoin and use Bitcoin pairs. Bitcoin still has many enthusiasts, bitcoin is also known by everyone in the world. Bitcoin is the king of all coins.

Because bitcoin is the pioneer coin amongst cryptocurrencies. It started and launced in 2009, meaning it is the longest and most famous coin. It is often referred to as digital gold. It is the largest crypto. bitcoin is widely used for online transactions such as remittance, online payments and as a store of value.

Bitcoin is increasing because It is the top demanded coin and it is the king of all altcoins. There are a lot of news coming daily, so Bitcoin will increase more in future and will become more valuable.

Yes, I think bitcoin is the first choice in Others  crypto. Bitcoin is valuable coin. Bitcoin decentralized payment method. Many investor use bitcoin for invest. So bitcoin is rise in future!

Before you actually compare it to other coins, the main reason it's worth this much is its fixed supply of bitcoin's that can ever exist, whatever we do only 21 million of them will ever exist.

Then comes the demand which also comes from trading against other altcoins which help the demand going on to even make bitcoin more worth as most of us feel our investment is safer in bitcoin than other coins which can turn out to be an exit scam, bitcoin has no one single person running the bitcoin show.

Because its unique, world first thing that people can't even imagine before its creation. And we know that if we can be a part of world most unique thing and we also can grab that thing too us then we want to take it with full ou curiosity. Its Just a funny explanation from me but its legit too. I think when people are trying to grab more people seen some unique features world first unique thing, untraceable balance bank, unlimited transaction features and when more users comes they will be ready to pay any price to grab this. Thats why the biggest investors comes here and buy it more and more and make its price high its a practical explaination.

There are indeed some cryptocurrencies like Monero that may be considered superior to Bitcoin in terms of fungibility (or technology). The general problem is that there'll never be an altcoin with better wealth distribution than Bitcoin. It's #1 in the market cap, because it's been seen as the most significant in that part.

Usually, if a new altcoin is been launched, it'll quickly gain whales. That's why the term “shitcoin” circulates the internet and why there's so much value given into Bitcoin. Because, there'll never be a cryptocurrency with the same characteristics.

if you ask crypto investors what is digital gold then the majority will answer "Bitcoin".  This perception has been ingrained in the minds of many Bitcoin buyers, so they are not very interested in altcoins even though they have more advantages than Bitcoin.  the majority of crypto investors cannot possibly prefer altcoins over Bitcoin, they would have lost their minds if they did that.

Bitcoin was the first to introduce the crypto world. Of course this makes it the main and valuable. all crypto will follow its movement,. if btc goes down other crypto will go down too. because the very large exchange value affects it all.

Even though there are lots of coins or projects which are most better than bitcoin in terms of technicalities but doesnt mean that BTC is already a garbage.Its still capable or do function on how it should be.
Thinking off that this is the first crypto existed and its just normal that it would really be getting that kind of demand and recognition and its a bit understandable that as years passed by then there would
be progress or improvement on most projects or even on newer ones but the community do still have that fixed impression that they would really be still supporting the king of crypto.

I think Bitcoin is very unique, even more unique because people want to own it like having a very limited amount of gold. You can get Bitcoin at a high price today, because its existence is increasingly rare. Although bitcoin can be used for payment purposes, until now it is still less effective when compared to other Payment Gateways.
That's my opinion why Bitcoin is so valuable and worth buying

I will just assume your still a newbie and haven't really known much about crypto itself, had it been you know much about bitcoin history and success achieved you won't say bitcoin is inferior to altcoins, we all know due to technology many cryptocurrencies created now have more advantages over bitcoin in terms of fees and transaction fee, but that doesn't mean bitcoin is inferior, bitcoin is the oldest and also the first cryptocurrency ever and also the most popular cryptocurrency.

Bitcoin is worth so much and its price is so high because it solves many of the problems concerned to finances and trust. I believe that Satoshi Nakamoto designed Bitcoin as a reliable reserve currency and decentralized payment system. He invented blockchain technology and used the proper cryptographic algorithms from the very beginning.

Bitcoin also has an interesting history full of sensational events. We have all seen how it grows and strengthens. And now Bitcoin is more mature than it used to be. Bitcoin even has a significant impact on the global financial system. My guess is that since 2009, banks would have cheated their customers many times if Bitcoin and other cryptocurrencies did not exist.

Indeed, this is common to hear from a newbie, I understand their situation as they are still learning. Could be a lot of question comes into their mind and it needs the answer.

Well, anyways, Bitcoin makes cryptocurrency become know to the community, many known personalities and big businessmen are into their curiosity after seeing Bitcoin is on the great surge last 2017. It wasn't because it was the oldest coin and let's say the king of crypto, it becomes worth so much because this coin helps the community a lot. And when it comes to investment, you can really rely on this for the long term as the value increases almost every year pushing its price also to pumps due to continuous high demand.

They became inferior because of huge market volume that bitcoin had for such a long time in every trading sites. Improvements on several cryptocurrency altcoins depends how their market grows consistently, and through new projects and strong support from each respective social media communities that became worth so much. Adoption also increase, because of the capabilities it has in terms of profit and long term investment that has been tested through time.

Thru the years, the use cases of bitcoin evolve to many applications but more important on the payment system. And this is highlighted during this pandemic. People appreciate more about crypto payment as merchants are looking for alternatives for cash payment. This is why during this pandemic, crypto also becomes popular because people are searching for payment alternatives that will avoid them from using cash, which may be one source of virus transfer.

Why wouldn't it worth so much? When it is the very first crypto. Let's leave the fact that it can be used for several purposes, the hype alone is enough for it to worth $100k. Besides, it isn't really the most expensive cryptocurrency.

That's because of the popularity of Bitcoin. It makes sense, Bitcoin is the number 1 on CMC, it is also called the King of crypto coins, and the price move of Bitcoin influences all altcoins prices. Simply, Bitcoin is like the iconic coin in cryptocurrency. So, investors believe that Bitcoin is always on top of crypto coins/tokens. With these considerations, they probably think Bitcoin is the safest coin to choose as their digital investment.

Why btc is so valuable because so far no crypto can match it. Even though there are currently a lot of new coins popping up, but it will not shake btc. Btc remains a coveted coin for investors because it is the parent of crypto itself. Many of the coins that appear in this market are alternatives to BTC itself which means the price will not be able to match btc. So it is very clear why btc is a very valuable crypto and is being targeted because it is indeed worth investing well. Personally when I decide to invest then btc is the first coin that I go for.

 Bitcoins are one of the famous Cryptocurrencies in the world even is the value of Bitcoins are Volatile but still worth it specially when we invest and trade. Sometimes in Bitcoins, doing investment and trading we will loss our capital but if we win it's a big jackpot or a lucky day cause Bitcoins it's not just simple value. Using Bitcoins someday we can buy by the use of Bitcoins in a simple way.

Bitcoin is first ever coin in world and from start to now many stages come but bitcoin survived in all stages. All other currencies launched after bitcoin totally success to provide new futute to investor. Without bitcoin we cannot even think of crypto.

Bitcoin is the first of its kind, the king of all crypto and the one who started it all. It has a use case that can solve real problem and the good alternative to fiat, the reason why many people trusted btc as a digital currency and an investment as well despite of the volatility.

Even many altcoins were created to fill what btc is lacking (specially the high fees) it doesnt mean btc will become obsolete because btc proven its worth through the years of its existence.

Its better to conduct your own research about the history of btc to understand why its worth so much compared to altcoins.

At first, people thought that gold is valuable because of the characteristics of gold, and Bitcoin and gold have similar characteristics.

• For example, stability, as long as you keep the private key well, no one else can steal it from us.
• Scarcity, this is well known, the earliest limited 21 million pieces will not be produced when the output reaches the upper limit.
• Bitcoin decentralized transactions are all open and transparent, everyone has a ledger, and no government can control it.

It's like between silver and gold. Why is gold more valuable than silver? The value lies in people's consensus, and once people's consensus is formed, it is not easy to change.

Bitcoin was the first cryptocurrency, it ushered in the world's first decentralized finance era. All altcoins they are really good but they are all created by copying and forking from bitcoin, without bitcoin all alts would not exist.

Yes, I agree with you.
Due to the limited amount of Bitcoin and its anonymity, there is no third party.
Because everyone trusts Bitcoin, everyone's consensus makes Bitcoin's value higher and higher. I believe that the value of Bitcoin will become higher and higher in the future. However, with the development of technology, there may be technology that can replace Bitcoin.

it's true as you said comrade, bitcoin is the first coin, and can be said to be the king of all coins, so bitcoin is very valuable, the benefits we get from bitcoin are very real, if we are patient in investing, surely profits will await us in the future ..

The whole stingy market has developed. Everything depends on Bitcoin. The value of the hero coin will increase.

Because of the emergence of Bitcoin, there will be these copycats. If there is no Bitcoin, there will be so many altcoins now.
Bitcoin is the leader, other currencies fluctuate with the rise and fall of Bitcoin, and Bitcoin survives for ten years. Bitcoin technology is now very suitable for others.
Bitcoin has now become some payment methods, the legal tender of some countries, which is currently not possible with other currencies!

it's true as you said, bitcoin is so valuable because bitcoin never deceives anyone, people who invest in bitcoin always feel comfortable, because if a business is safe and reliable, it is certain that the business will grow and be valuable, plus if we invest bitcoin in long term, we will likely benefit, because bitcoin is also a rare item, so something that is rare is definitely high in value..

Having the first currency tag does not mean anything without its underlying technology, there were many coins that came after that and if you look at that majority of the earlier coins died because of the lack of innovation and rather copying the same Bitcoin source code and renaming them and then there are coins that are successful even if they copied everything.

After all it depends upon timing and how many people you can attract with your product because the price depends upon demand and if you can attract investors then you can have a successful project.

Because Bitcoin is the first crypto currency of the world. And all the other coins are alt coin( alternative coins). All alt coins price are dependent with the bitcoin price. Bitcoin is a independent currency. But its price impacts on the other coins prices. Bitcoin is the King of the crypto currency coins and it will also remains king no other coin will compete them. That is why bitcoin worth so much.

Bitcoin is the basis of the values of other cryptocurrencies which makes it the superior of them all. The price movements of almost all the coins are related to bitcoin's pump and dump. It is said to be the greatest among the rest because it has proven its potential over the years already and it served as the 'founding coin' of the cryptocurrency community. Bitcoin has a value that totally far ahead of other coins because it only has a very limited supply. With this being said, the power of supply and demand will do the work making its price go up and down depending on the market demand at the current time. Bitcoin isn't prone to inflation unlike other forms of assets which is the reason why the demand is high, making its price pump even more as time passes by.

As others here have stated, bitcoin was first and was the model for others to base their coins on, but that DOESN'T mean that they are better than bitcoin or have improved upon bitcoin.  It's important to remember that bitcoin was first so no other blockchain has been tested like it has before which gives it a major advantage over all other coins.  The truth is when it comes to coins like Bitcoin Cash or Bitcoin SV, you have no idea if their "updated" blockchains would be able to handle the inflows and outflows that bitcoin has been able to handle.  So no, bitcoin is not inferior.

I agree that bitcoin is the first digital currency and it is very appropriate for bitcoin to be dubbed the king of other alcoins, it is proven that bitcoin is king, if the price of bitcoin goes up, the price of alcoin also goes up and if the price of bitcoin goes down, the price of alcon also goes down, so it is very appropriate for bitcoin to be dubbed as king of other alcoins.

Actually, there are already some similar electronic currencies created before Bitcoin but they seem to have a bit different characteristics. Bitcoin has more advanced characteristics and it is decentralized. Satoshi Nakamoto really made a great idea to develop Bitcoin with a decentralized system. With this system, Bitcoin became an electronic/digital currency that can be transferred around the world without a third party. A great innovation to support human future life.

Bitcoin isn't a payment method but a payment tool.
Regarding legal tender, AFAIK only El Salvador officially announced to make Bitcoin as a legal tender there.

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wiki: https://en.wikipedia.org/wiki/Cryptocurrency

For what reason is bitcoin so important?? my answer is extremely straightforward, on the grounds that bitcoin is the ruler, everything being equal, so it is normal that the cost is more costly, bitcoin can likewise be supposed to be in restricted stock,, the start of the rise of bitcoin is in reality a ton of uncertainty, yet over the long haul, bitcoin develops and many hold bitcoin, After quite a while of bitcoin's quality, different coins naturally showed up, one might say that in case there is no bitcoin, perhaps different coins don't exist by the same token

I think on the contrary, bitcoin can be like this because of the support of altcoins, without trading with altcoins pairs then bitcoin runs on its own and may not last long, we should thank bitcoin for being the first crypto but we should be more grateful to altcoins that make bitcoin great.

Bitcoin has always been the number one cryptocurrency by market capitalization. It all depends on the people in the world. It is believed that the more people who invest in Bitcoin, the greater the market value, not only on the Internet, but also in other fields. Bitcoin is the least easily manipulated. Bitcoin was the first to be used in blockchain technology and the leader of all cryptocurrencies.

The essence of Bitcoin's value is people's consensus. Whether these things have value and whether they can satisfy us is not the most important thing. What matters is that people think they are valuable and whether people are willing to buy them at a high price. In other words, the value comes from our inner thoughts, which is equivalent to the value we assign to it. If everyone agrees with it, then it is valuable, and the common concept of all of us is the consensus.

Yes bitcoin is the first cryptocurrency and the price increases as the demand for investment in this currency increases. Data on these transactions is protected through blockchain networks but there is no authority like the central bank to oversee transactions in these currencies new bitcoins are created through these miners.

The main reason why Bitcoin is worth so much more than other cryptocurrencies is that Bitcoin is the first and foremost cryptocurrency. Although many cryptocurrencies exist in the market at present, many of them exist in markets directly dependent on Bitcoin fluctuations. Moreover, Bitcoin is considered to be the most popular and trusted cryptocurrency for investment. Moreover, due to the fact that the total supply of Bitcoin is a certain amount, its demand and the number of users are increasing day by day and its value is constantly increasing. So it can be said that since Bitcoin has emerged as the mainstay of all cryptocurrencies, its value is so high.

It is similar to asking why Amazon is the biggest brand in eCommerce, or asking why Tesla is so big in the EV sector. With Amazon and Tesla, they were the first established brands in their respective fields. And there is always an advantage for being the first. There were a few proposals for cryptocurrency even before Bitcoin. Hashcash is an example (was in active circulation until 1997). But none of them found any acceptance from the users. Bitcoin was the first cryptocurrency that could be established with global acceptance. 

I think it's a matter of trend for now. we see many people who want to invest in bitcoin with a limited supply of course later the price will rise if those who adopt it increase. and moreover, many countries do not prohibit it from being owned, but it is indeed a risk borne by each

Because other altcoins developed because of Bitcoin, and Bitcoin has a consensus. We meet here because of consensus. Because Bitcoin becomes more and more popular, the value of Bitcoin will slowly rise.
When Bitcoin becomes more popular, the value of Bitcoin becomes even more valuable!

It has a market value and people take this opportunity. And the number of individuals who see about the potential of Bitcoin, which eventually helps the demand to grow and uplift its value. Gaining trust from the people around is really hard especially when there is no support from the government but still, people are risking their money for this sake and they are not wrong.
Now, we can see that Bitcoin prices keep increasing and that is something to tell that Bitcoin is real in the digital world, not a hearsay nor it was a scam.

Supply and demand always is the shortest answer and indeed a correct one. I guess though that OP wanted to have a somewhat more elaborate answer. ;)

Bitcoin is worth so much because it is truly scarce and a serious alternative to any existing financial subsystem and the overall financial system. That doesn't mean Bitcoin is a safe haven per se and can't crash. It certainly can as we know. But it truly is different from the system people are more and more losing trust in.

As long as there are people who trust Bitcoin and use it, it means that the demand is always there, then Bitcoin will not die and it is impossible for
its price to be zero. That's the reason why until now Bitcoin is very strong and the price continues to rise, even though many big countries are trying
to kill Bitcoin. But Bitcoin is able to survive, even the demand continues to increase, this is because Bitcoin has a privilege over fiat. Besides Bitcoin
having a limited supply and higher demand, Bitcoin also cannot be controlled by anyone, that's a strong reason why Bitcoin is very valuable.
Because many people want to do financial transactions without a third party, and Bitcoin can provide that.

Like gold, it depends on the price that people are willing to actually pay for it. In addition, its scarcity and limited number (21 million) makes it more valuable that other cryptocurrencies in the market.

Remember that what drives the market price on a product is the law on supply and demand. The demand on BTC is so much that people are willing to purchase it at a higher price. The reason is because of its high volatility which make it the perfect investment instrument for either short or long-term.

According to some speculations, it is to be speculated that the very last bitcoin may be mined on the year 2140- that is why save your BTCs everyone!

Because it has utility, offers financial privacy, can be used as a form of exchange and it's used by many people. Those that I listed are some of the reasons that I can think of in regards to why bitcoin is so valuable, you see when things are being bought and they have a limited supply, if the people find the product interesting then the prices will go up since the demand for it will only go up.

I want to say why not? Bitcoin is the first created cryptocurrency and day by day it’s able to showing how demand it in market. Comparing it’s more valuable than gold at the current world. We got news world's many giants companies starts accepting Bitcoin today Xiaomi will announce will accept Bitcoin.

Hope you are not new to Crypto currency platform or here on forum. Bitcoin is the mother of bitcoin and yes the pioneer of crypto currency always had its demand as it was growing up. Word of mouth and news around really supported grow well in the market. Its the demand that really increased the price. All other crypto currencies which followed it, grew well based on bitcoin's growth.

Bitcoin is valuable because many people believe in it, maybe one day Bitcoin will become the currency used by various countries.
I think another reason why Bitcoin remains valuable is because:
- The most popular cryptocurrencies
- The only fully decentralized cryptocurrency
- Maintain majority market share
- Become the main investment destination of most traders

And bitcoin is even more worthy because it has only limited supply so investors will definitely crave for bitcoin because of its very expensive price that keeps growing from time to time.

Bitcoin may has its own dump season and made a huge drop but after days or months of prices declining, we always see bitcoin rising again and eventually it reaches another new ATH everytime. So if you're a smart investor, why would you run into another coin if bitcoin has all the reasons to be the number one investment of all time.

being first is special. Moreover, bitcoin offers many solutions in finance, starting from its fully decentralized nature, giving its users the freedom to be independent in managing their money without third parties, transparent, etc. on the other hand it backfires because the government cannot control and supervise it fully.
in fact, ordinary people would think that there is only one cryptocurrency, namely btc, even though there are many coins and tokens. because of the attachment of the cryptocurrency image with btc.

I will summarize the answer to your question:

- bitcoin has limited offer:

Max Supply: 21,000,000

Circulating Supply: 18,778,343.00 BTC ( 89%)

Source: https://coinmarketcap.com/currencies/bitcoin/

now adds the fact that hundreds of people who are in this cryptocurrency market have been buying bitcoin just to make Hodl for several years, there are dozens of companies that have bought a lot of bitcoins just to make Hodl, this makes it have few coins circulating in the market and many people wanting to buy the result Is the big price increase, then there is mining cost to mine bitcoin which must also be included in the price determination
 

Just because it is practically the progenitor doesn't mean that it is inferior to the ones that came after it. The fact of the matter is, that bitcoin's popularity and technology paved the way for these cryptocurrencies who I would say are just slightly different iterations of bitcoin and without it we wouldn't see ethereum, or any type of cryptocurrencies out there. in more ways than one bitcoin show more promise than the majority of the cryptocurrencies in the market. Further dignifying the fact that even if it came before everything else, it is not last in the race and is still practically succeeding past the other participants. And people believe in it because of the promising potential that it can offer not only in the sector of finance and economy but the technology behind it as well. Blockchain is one of the most secure and most powerful technologies ever made in this decade, there is a wide array of applications that it can be implemented on so in order to keep blockchain alive at least until we crack all of its secrets, some of us who aren't even proponents of bitcoin had no choice but to support it nonetheless.

Exclude those lost bitcoin that are totally floating in void which simply means that there would really be scarcity whenever the supply is fully mined and also the demand becomes even more higher in near future.

A thing do worth so much would always vary on the demand because it wouldn't really get that valuable in the first place if there were no recognition in the first place.

Also, bitcoin is the first cryptocurrency and its just normal to have that kind of reputation and popularity even though there are some much better coins in the market today.

Take note bitcoin can't be inferior to altcoins when it's the first cryptocurrency created, a king can't be inferior to it's followers. The fact here is due to technology new projects blockchains are being more better than that of bitcoin, being scalable and also making usability more easy but that doesn't mean bitcoin has lost its stand or function, bitcoin still works perfectly and also gaining this high prices because it's the most popular and trusted cryptocurrency so far.

Blockchain is a non-traditional, disruptive technology, and Bitcoin has the first mover advantage. It has the potential to be valuable if adopter, or nearly worthless if it isn't adopted. Only you can decide if its worth.

A full Bitcoin node can still, after a decade, be run from a Raspberry Pi and a single external drive.

The biggest attack historically was the attempt to bloat Bitcoin by unrestricting the transaction rate.  The argument at that time was that 'we' would only need to add one 4TB HDD per day.  Had people been idiotic enough to fall into that trap, BTC would be a historic memory or under complete control of Google, Facebook, and a few other entities.  Either option would have been fine with the attackers.

Bitcointalk.org probably picked up a load of 'social media influencers' back in those days in an unsuccessful attempt to pull off the bloat-it attack on Bitcoin, and a number of them stuck around long enough to play their part for the covid-19 plandemic.  Same basic forces driving both efforts and they have unlimited fiat to pay off trolls, bot farm programmers, etc.

It is unique, it is a different ball game. It doesn't have competition. BTW, it has gone through every stage of mockery to have been where it is today. The concept behind it is what makes it more amazing and sort after. It has driven the digital economy to a new era. Many people are curious to know what it is.

There are three main reason why bitcoin is the number one currency and will remain on top always.

1- Bitcoin has fixed supply and it can't be changed
2- Bitcoin has no owner
3- Bitcoin is truly decentralized

No other altcoin has these characteristics  and hence, people don't trust them as much as they have faith in bitcoin.

Bitcoin is so valuable because Bitcoin is the king of all coins. We see that Bitcoin is one of the few coins in the cryptocurrency world.As we can see in the coinmarket cap, Bitcoin is in the number one position.And if Bitcoin hadn't been created, cryptocurrency wouldn't be expected Bitcoin is the king of all coins so bitcoin is so valuable.

I agree bitcoin is the king of other alcoins, so the question is if investors don't buy bitcoin at high prices, will bitcoin still be king? I believe bitcoin is expensive because many big investors still believe in bitcoin so they are willing to spend large amounts of money to buy bitcoin so bitcoin becomes expensive because of the trust of big investors.