Bitcoin Forum

There are newer cryptocurrencies than BTC with better technology. However we often insist that BTC is "king" because of its "first mover advantage" and its greater adaption. But then USD has far far greater adaption than BTC.

Shouldn't we value more technology than adaption? Isn't it natural that in the end other cryptocurrencies with better technology will prevail?

No. Bitcoin remains a classic among all cryptocurrencies. for this reason, it will always be valued more than anyone else. It is possible to make purchases on the Internet will use other altcoins but we will always keep our savings in bitcoins. For me, there will always be bitcoin and everything else.

Adaption can elevate the price without limit which is why strive so hard and that there are tokens created for each industry we care to dominate. For instance in the mobile, there are already ERC tokens trying to get into the market and its possible to have good success as there are already markets we can already but DATA with Dent.  

This is the same thing with BTC, we can already buy products online with btc. The more merchants and store accepting btc, the higher its price could go. But still technology is never out of the equation.

If people value the technology, they will adopt it... It's not happening because people don't value techonology at all, what they're interested in is getting rich quick.

Bitcoin is adapted mostly not only for it being the pioneer in the crypto world.But it has successfully overcome many critical situations and restrictions by governments.Hence it has gained the trust of most people.It has successfully processed very huge volumes of transactions.But other coins did't.Either they have not proved themselves or they have not got any opportunity to do so.People arenot ready to risk their earnings by investing in new coins instead of bitcoin.

USD has it because it was created long enough compared to Bitcoin itself.
that is why we could not see it and it's very far compared to USD itself,but how about technology and future ?
do you think people will do the same thing all over ? many years ago people use 'SWAP' or 'BARTER' as a method to do the transaction.
and with the time,people discovered something to help them out to do it by creating FIAT.
do you think we will lag behind when we are facing a modern technology in the future ? absolutely not.
we will use it to help us doing the transaction using those modern technology.

so i believe in Bitcoin,it will surpass FIAT in term of adaption.
(but of course it will not replace it,because it needs to coexist)

If its really a good technology then people will like it for sure no matter what, look at how eth works now but then again since bitcoin started this thing many people would still believe on bitcoin. Time will come and good coins will either replace bitcoin or be next to it but for sure it will not happen within 10years from now.

I would say that valuing the first ones in fair, because others were just copying from them. Bitcoin deserves all the credit it has, just like ethereum deserves its for being the first smart contract platform and iota for being the first tangle-based currency. I would say that it is actually surprising that it is the case and people value those who started innovations more than those who succeeded in improving them. Surely good tech paves its way to the top, but it cannot beat the giants, because the tech's improvements are a lot less significant than what the first coins did.

Better technology? Can you back that statement up without vague meaningless word salad?
Because 'better technology than bitcoin' is what every single one of those thousands of altcoins claim and it's mostly just bullshit and word salad to get people to invest in their scam.

I can tell you argue. You can drive comfortably on a modern car but you never know when it will die. A large number of electronics makes it comfortable but less reliable. An old car without electronics can ride as long as there is fuel. And bitcoin. It is reliable and therefore, he will always trust more people.

Bitcoin has all the features that a crypto currency should actually have. And yeah since USD has far greater adaption than bitcoin, most people avoid bitcoin since it is confusing for them to understand new technology. A time might come when other currency takes over bitcoin, just like bitcoin taking over (assuming) USD.

it doesn't matter how many times the same words are being repeated by how many new accounts, it can be repeated infinite times and it won't change anything. ...words are winds... at the end of the day bitcoin is still far far ahead of any other shitcoin and it will remain there until they stop being shitcoins.

and let me answer you once and for all, if they were REALLY better they would have already replaced bitcoin!

We naturally would want a better and more beneficial technology available for us to use. But so far bitcoin continues to lead the cryptocurrency industry because so far nothing has surpasses it technological advancement and it is the fastest and safest too. I think we people are adaptable in what is available and useful for us  so all in all everything just follows.

I think we already choose both. For adoption purpose we choose bitcoin because it is the best coin to adopt. Technology is there with most erc20 tokens with utilities and we also support them and its quite understandable.

I think this is a pretty weak explanation in regards to OP's question. OP's question is asking why we should support bitcoin over newer technology backed altcoins and you essentially said "because we just should." I think a better response would be that Bitcoin has proven itself. It's hit 19,000 which proves that people do value it. Even now, people value it at around 8,000 and that might even continue to go up. Furthermore, the security backing is very strong. There haven't been breaches in the actual coin and blockchain as far as I know. That's something that other coins can't boast about because of how long bitcoin has been around.

I think you might find this article to your liking. If you scroll down a little, you'll find a list of reasons why Bitcoin has benefits over other alts.

https://medium.com/@jimmysong/why-bitcoin-is-different-than-other-cryptocurrencies-e16b17d48b94

Well there is only one bitcoin, whereas everything else is an altcoin. There's like 1500 altcoins. So the likelihood that a single one of them is going to be chosen over the first crypto that everyone already knows is very small. For an altcoin to gain adoption over bitcoin it would first have to beat out all other altcoins and get people to shift from the other altcoins to that one coin. Basically first mover advantage here is crucial. And the "greater" technology of some altcoins isn't that much greater. The major technical problem with cryptos is scaling, all coins suffer from this problem, some less than bitcoin, but a hard fork is all it would take to get rid of the distinction between bitcoin and this "greater" technology.

Nothing in the altcoin market stands out (other than Ethereum), from everything else. If you want Bitcoin you buy bitcoin, if you want something else then you can choose one or many of hundreds and hundreds of options, this makes it nearly impossible for a specific coin to overtake bitcoin. Even among the top coins by market cap you have to choose do you want Litecoin or Ethereum or Cardano or Ripple or Bitcoin Cash or Stellar or Neo, etc so that fragments the market, whereas there is only one coin to buy if you want bitcoin. Basically bitcoin and altcoins are kind of two different markets, but the altcoin market is fractured over 1000 different ways which means people's money is going to over 1000 different places rather than one place.

Since Bitcoin has limited supply which going to end of limit, the values has more important about the adoption it is. Since some of countries are joining to restricted Bitcoin activities trading in their regions this makes most crypto coins adoption become more slowly, so even there will be new altcoin that has more good technology but people still stand on Bitcoin for this security.

OP, your questions seem confusing cause there are two of them.  First, if you are saying that there are better cryptocurrency better than bitcoin because of their high technology and should be regarded as the best coin, I don't think that will be possible because the whole idea of digital currency started with bitcoin so it should be the  leading. And second; on if we value more technology than adaption. I think both should work in hand to achieve the best.

Actually, we can choose adapt to technology. Like the monetary system we had before ,where fiats doesnt exist and you need a chicken to buy some apples. When paper money releases then people adapt unto it. By the use of the technology today, another form of monetary policy existed and that is cryptocurrency. People can easily adapt unto it because this is the time where technology is on its peak and people are comfortable to use it.

Better, how exactly? No blockchain has been stress-tested like BTC. Nothing has faced attacks of similar scale, and nothing has nearly the same security in terms of POW. And the most prolific developers in the world are working on Bitcoin Core or Lightning. All of that reinforces demand for BTC. It's not just the "first mover" advantage.


Slow and steady wins the race. Smart contracts are coming to Bitcoin with Simplicity. Sidechains are coming with Liquid, Rootstock, etc. Lightning, atomic chain swaps and more.

You say the "first mover" advantage shouldn't matter...but then why does it matter if some other altcoins incorporate new technology before Bitcoin? I'm all for innovative altcoins, but I think they should be targeting new use cases that are unlikely to be ported to Bitcoin. I think you underestimate user faith in the most secure blockchain (really the most secure payment system) in the world.

just because they were created after bitcoin doesn't make them "new technology". it just makes them a copycat of bitcoin. and most of them are exactly poor copies, some of them are new with a lot of also new issues.
and calling something that is not even used "better" only shows you know nothing John Doe!

it has nothing to do with being "first mover" it is all about its usefulness. bitcoin offers certain features that people want and that will always create the demand and with it the huge rising price.
by the way bitcoin is not the first. there were others before it. which again shows you know nothing John Doe!

you first have to prove there exists a "better technology" then we can argue about other stuff. we won't just make the assumption that there is some better tech out there just because you fell for the pump and dump advertisement of altcoins.

Bitcoin will always be the king of all cryptocurrencies, some other cryptocurrencies are just relying with bitcoin, if bitcoin drops then altcoins will also drop just like bitcoin and if bitcoin recover, altcoins will also recover its price. It is always happening and I think that is the truth.

Don't generalized it, A lot of people still value technology. Bitcoin is in the digital world in which technology plays a huge part of it, Bitcoin's system would surely upgrade in time. Adaptation would be always a part of this world, if a person decided not to adapt, most likely he/she will be left out. Technology will not wait for a person to adapt.