Bitcoin Forum

I have thought about this a lot, especially more recently as I question why I'm using Bitcoin. Since cryptocurrency began, there have been so many new and improved versions of the "Bitcoin blockchain", one of the most notable probably being Ethereum.

It's always painful to use Bitcoin in comparison with sometimes up to $5 transaction fees for sending even $10, not to mention the amount of time transactions take. It kind of feels like Bitcoin is a sinking ship in some ways, because of the increasing problems that occur with a blockchain system. However, this doesn't seem to faze many, as the price keeps rising again and hitting new records.

My ultimate question is: "Is Bitcoin so valuable just because it was first?" As technology progresses it's inevitable that new and better ways of doing things will be discovered. But is it really about just being first in today's world? What are your guy's thoughts on this? Do you think there will be a breaking point aka, amount of inconveniences people will put up with before moving on?

Bitcoin has a lot of value added properties. This features can not explain with technical features and advantages. Think about world wide brands. There are a lot of brand which are not good as the others but more valuable and has more reputation. Such as Apple Macbooks, this is not just a computer, this is a business computer and people who are using macbook do not need any hardware requirements.

This is not just a e-money so we can not describe it with technical features. Actually, this is the name of e-money, and this is an ideology and a revolt to today's money system. We must describe Bitcoin as like as a money brand.

It's a hard question. I thought about it myself for a while. I am not good at technical stuff, but it also occurred to me that many coins are indeed better than Bitcoin. Simply because they took the best it had and had an opportunity to fix what was wrong with it or simply offer some improvements. However, it seems to me that the problem with transaction fees and speed is ultimately the problem of blockchain itself. The only thing you can do is make it somewhat better, increase the capacity, so to speak. But the main problem lies deep within: whatever you do, the more transactions there are, the more time and money it takes to confirm them. And you know what? We actually even have cryptos that don't have this disadvantage. They are built on DAG, not Blockchain. DAG has a different principle of working, and with it the more transactions there are, the faster they get confirmed. The problem with DAG, though, is that it's very hard to ensure proper and not too centralized work of the coin before it gets a big and active community. Plus it's buggy, or so it seems.
But why Bitcoin is still #1? Some even make this point, that it's clearly not the best, and time will come when cryptos will be our future, but Bitcoin will be left behind, like with the .com boom.
I think that since Bitcoin was the first successful crypto, it also became the most famous one and the most innovative one in comparison with fiat, so this popularity and respect of innovation pushed it forward and might even push it forever.

Some altcoins are better than bitcoin for specific purposes. Bitcoin has the trust of the people and a very solid system.
Any altcoin that wants to compete with bitcoin has to offer something new, otherwise is just a bitcoin clone...

The first mover advantage can be huge but with this feature alone I don't think Bitcoin can be able to survive as it is now...with its value continually rising and always coming back even if it had been proclaimed to be dead over and over again. I am not so sure but I think there seems to have a certain magic with Bitcoin that much better cryptocurrency can not rival. In any marketplace not just in cryptocurrency there will always be better products but their acceptance is not that good compared to products that have already established a strong foothold and captured market. Being first can be a big advantage but it is not always enough, of course. Now, the same can be said of Bitcoin's competitors: being better may not be always enough. Ultimately, everything boils down to acceptance and that sense of trust that it can be more valuable down the road.

You're referring to altcoins. Of course, new coins will emerge while others will be forgotten. It comes back to endless debates about what's the best between BTC vs XXX
But don't forget Bitcoin can also evolve and remain competitive. There's a lot more to improve, Segwit didn't come the day 1. There are also multiple things like MimbleWimble, Schnorr which will help BTC

No, it's about the most robust and the most useful


I like to compare Bitcoin with Debian. Debian is the mother of most GNU/Linux OS today (Unbuntu, Zorin, Lubuntu,...). It creates different OS, for a different population, different needs, different communities, etc but in the end, Debian is still the queen, proof: devs keep to fork it

Hey

Not always this implies that the one who comes first is the best too , let's take an example :- Motorola was the first company to launch mobile back in 1973 , Apple was inturn founded in 1976 .
Now people usually compared Motorola to a trusted and stable company and the fact is they still do in many parts .
Apple on the other hand is inturn an amazing company , apart from their unnaturally high prices , their mobile phones are quite durable. Where as One plus was founded in 2013 and many people still think that it's a better option as compared to apple.

The fact is , the one who comes first always will have a trust of the people, they have room to improve , they can actually stay the best company out there on periodic upgradations but that doesn't naturally mean that they will be the best .
It's people's choice to invest in them.

I agree that in the market there are many exceptionally amazing coins , but Bitcoins have stability , trust , security which is unmarked so is Bitcoin's popularity.

The fact is that Bitcoin was the first cryptocurrency, but it is also fact that it is first decentralized cryptocurrency. Today we can only speculate what happened to Satoshi Nakamoto, but many assume that he deliberately went into the shadows so nobody can say that Bitcoin is just some ponzi with purpose to fill his and few other people pockets.

I think he succeeded in that, and that the people recognized Bitcoin as something that is belong to anyone. Ethereum is project of one man, and he is pulls all the important moves, there is no decentralization there. It is same story with almost any altcoin, they all copy Bitcoin in some way - and despite all they do, copy is always copy and people always prefer the original.

With the technical point of view Bitcoin is probably not perfect, but we are witness to its constant development, and I am sure 10 years from now some problem we have today will only be a far past.

I'm like you always wondering what makes bitcoin valuable and better known than all the other projects on CMC. Because if you talk about the application or bitcoin technology category, it cannot be compared with later projects such as Ethereum, EOS, ADA ... But now I think I have answered this question.  I think that bitcoin is always more valuable than altcoin for the following reasons:

1. Finite: finite supply of only 21m BTC is a strong point, altcoin seems to be inflated because of too much or infinite supply.

2. Pioneer: everyone knows bitcoin is the first and most famous peer-to-peer payment protocol created by Shatoshi in 2008.

3. Security: The bitcoin network is very safe and has never been attacked  success once, while the altcoin network seems very vulnerable to 51% attack.

4. Stability: bitcoin is always more stable than altcoin when the market is volatile, the recovery of bitcoin is always higher than altcoin. Moreover, bitcoin, now considered a very safe place to store assets like digital gold.

The nature of its launch is an immaculate conception can never be repeated. There was no such thing as miner. Anyone could do it with any machinery. It was open to all. The fact that no one knew about it is kind of unfortunate but it couldn't have been any other way.

Contrast that with the insta frenzy or loathsome scamminess of most coin launches.

The first means the longest lived. It's the most developed, the most thoroughly explored, the most battered, the most used, it's endured the most attempts to hijack it and they all failed.

All of that adds up to trust and too few people can be bothered to take that into account. It's the only thing that backs a coin's value and desirability. All of it's intangible code. What you're investing in is the giant web of trust and consensus created around it.

You can't buy trust. You can't create it. You can't fake it. The only way to gain it is by earning it. I can't see how anything else will ever be able to earn the same amount of trust.

It's pointless comparing it to companies or Facebook/Myspace. They're nothing other than disposable services that people will drop as soon as something better comes along. There's zero downside getting a better phone or hopping to another social network.

If millions of people are involved in something like BTC all of them are heavily incentivised to stay within it and work to improve it.

Of course, it's clear that we all know Bitcoin is the first of course to have grown a lot of their users in a few years, so what do you think about other altcoins while they just grew yesterday

Transaction costs are very expensive, which makes me think that bitcoin is like digital gold for me, so don't make unnecessary transactions, sometimes people do bitcoin transactions for things that are not necessary, so make sure to do a bitcoin transaction for something that is needed

I don't think so, unless you'll get the answer directly from the hundreds of thousands (if not millions) of users of bitcoin. Aside from having the first mover's advantage, I'm pretty sure that there are other factors that come with it as well, and you can include the trust and reputation it has garnered over the years even though the likes of litecoin, ethereum, monero, among other remarkable cryptocoins have surfaced. Add to that fact the mining industry which is worth millions of dollars, and it's one way of deeming the value of bitcoin, too. But then again, value is perceived by people individually, until such time that a collective price is achieved by these individual perceptions of value, and then we're here.

We have many examples in IT industry that if someone was first in something, like Microsoft in computers, Apple in I phone etc. that afterwards it was difficult to remove them from the top.
People get used to their products and habits are most difficult to change.
Bitcoin is also man entry point for the crypto world and well known because of media reports.

Altcoins are better than Bitcoin only in the way that they go up more short term speaking, which allows people to use them as leveraged bet to increase their Bitcoin holdings. I have yet to find an altcoin that is actually being used for something other than speculation and gambling related dapps. It's mostly just a shitshow overall. Big promises but none of these promises are being followed up by a working product as originally intended.

Bitcoin has an incredibly strong network effect, the brand awareness behind it, the security, the progress in terms of second layers such as Lightning, etc. Altcoins have already lost the battle in terms of fast and cheap transactions. Lightning keeps growing and keeps enjoying more merchant adoption on a daily basis.

In the end, altcoins don't even have to deliver a product. Them being a speculative object is more than enough for people to buy into them. A lot of shitcoins with zero actual utility are worth hundreds of millions of even billions in some cases. Speculation is their killer "application".

I have thought of this too, but the bitcoin network is very secured and have massive support. I think the bitcoin network is much more stronger and more secure than the ethereum network. I understand we have some good other altcoins, but they have limited support. I don't write code though.

Many exceptionally amazing coins? I'm a bit more on the conservative/realistic side then-- I only consider Ethereum to be a worthwhile crypto. All other coins are blatant copies of Bitcoin and Ethereum.

Look at TRON and EOS for example, both networks are being flooded with fake transactions to make them seem vibrant and active, while in reality only a small number of people are using them. It really is embarrassing.

I like the growing DEFI app economy on Ethereum and strongly believe that this is something we should pay attention to. It's good to see that ICOs are no longer the main price driver of Ethereum.

Yea this is very true, I think a lot of it has to do with the time / innovation "ratio" or how much something is "ahead of its time". I guess a lot of Bitcoin's downsides are also a result of it's age, aka the blockchain issue you referenced. I do have a kind of pessimistic attitude towards the life of Bitcoin, but it's still pretty amazing this is all possible. It will be interesting to see how things continue in the future.


Interesting, I do think it's a very valid point to make that most "altcoins" are pretty much Bitcoin with a "new" feature slapped onto it. Even now there are hundreds of tokens being made each day, trying to introduce something new. I guess the real question is whether there needs to be improvements at all? Like kryptqnick said, it does it's job very well and has withstood the test of time.


That's very true, it doesn't matter how good your product is, if you don't have the right market then you fail. And I guess I didn't consider that a lot of the things I consider "issues" or "annoyances" relating to Bitcoin, could be considered very differently by someone else. It's kind of like Facebook being the forefront of new social media, despite having numerous issues like privacy concerns and false information: it's still the biggest social media platform. I think Bitcoin's competitors fail in the aspect of "being different" as they all have the same goal: handing monetary transactions.


I am not really up to speed on all the recent improvements to the blockchain, but it looks promising. As someone who is not really into the "technology" behind Bitcoin, I didn't even know a lot of this stuff was possible. I am excited to see what the community can come up with!

I didn't really expect this many responses but it is really making me think! I don't really want these reply posts to be a page long, so I will answer a few more later. My view is a bit more agnostic now, as a lot of you brought to my attention the reason Bitcoin is still so great, even in comparison with newer altcoins.

Capital yes because it was the first true cryptocurrency, also, uncompromised decentralized cryptocurrency, the true anonymous cryptocurrency. The birth of Bitcoin was amazing and was a first time freedom giver and transparency. I think many will come to the truth that, bitcoin is the true cryptocurrency.

Bitcoin valuable because it is the most securest blockchain ever created.

The amount of hash power which secures the network is unmatched. It is nearly impossible to pull a %51 attack on bitcoin.

It is pretty easy to pull these attacks on minority chains&low hashrate coins like bcash, bsv, etc, btg (some of these has already been attacked btw)

If you are a cash rich individual who seeks ways to keep money out of the banking system, bitcoin is your choice.

It is not practical to buy coffee with bitcoin but bitcoin went beyond this. It is like a Swiss bank account in your pocket.

It's all about adoption. The first mover advantage is hard to overstate. I also do not think Ethereum is a competitor with Bitcoin, I think they can co-exist and serve different uses. Also, people don't always go for the latest and most high tech solutions, they go for ubiquitous and convenient. E.g. mp3's sound like ass but they are now the defacto standard for delivering audio even though CDs by every single measure sound much better. Convenience, adoption, availability. Bitcoin has it all and a large part of that is due to being the first.

Bitcoin being the fast brought with it couple of advantages :-
- Well-known, the word "Bitcoin" has been thrown around for almost 10 years now, and it is still alive and one of the most valuable digital asset
- Network effect... most cryptocurrency adopters started with bitcoin and also attracts the most serious audience and holders
- When Bitcoin was launched it influenced a lot in terms of philosophy and economics of a digital asset, spawning new ideas and setting the tone for decentralization

In terms of value, money is very much a function of its network effect.
For a new cryptocurrency to pose a serious contender to Bitcoin, not only the alternative needs to be better but Bitcoin probably would need some defects
Simplicity of Bitcoin purpose also reduces the possibility of defects which makes it less popular than the alternatives

Bitcoin is valuable because it's reliable - it's much more tested than any other coins, it has more PoW, it has better and more developers, it has a good track record of not majorly screwing up, unlike other coins. Most importantly, PoW is proven to be secure and unlike alternatives, and smaller blocksize, which causes expensive transactions, is a guarantee that no one will take control of the network. Meanwhile, altcoins like EOS and XRP are just payment companies masquerading as cryptocurrency, because there's a small number of nodes controlled by big players - it's not a peer-to-peer network.

Perhaps for the decentralization but for the cryptocurrency, I'm not sure if we can say Bitcoin is the first (since cryptocurrency = currency using cryptography). There are hascash, bitgold, bmoney and a dozen of others, maybe the older was started 20 or 30 years ago. As for BTC success (if it's what you wanted to say) yes I agree it's the first one.

It is the best not just because it is the first.
It didn't just take the quality of being valuable, instead it earned it. Take a long look at every altcoins which are been developed now, it is aimed for profit purpose. Satoshi by far is the only developer who probably didn't have profit in mind when drafting out Bitcoin code; I am presuming he didn't even know that it will be this popular. Looking around, only few developers are on this path too.

In the future, I do hope there will be a coin strong enough to compete with Bitcoin.

but reliable means you can relly on it all times but btc isnt reliable at all times because sometimes its value is down

yes its because its the oldest or the first one to come out but even other coins thats next to btc such as eth , are also been tested and proven to be a good coin ,

i dont what is pow but i heard that pow is also available on other crypto coins   . other coins do also have a less expensive fees but bitcoin isnt especially if its value is pumping

The fact BTC is the first coin is important, because more people trust
And not only the fact of first coin, BTC is the most supported coin (devs, wallets, blockchain etc), and we have one more: BTC is the the coin of all exchanges, the pair number 1, all coins have their value in BTC
So, it's not just because it was first

Bitcoin being first can never be down played so yet it is part of the reasons bitcoin is respected but this is not the whole reason as to that. Bitcoin had a wonderful team all this making it very credible

It could be a similar story to the development of cars.. In the beginning there was only Ford and then came other manufacturers but Ford was dominating for many years. There were better and cheaper cars and other manufacturers found something other people wanted and Ford couldn't give them.

The difference is that there was not enough cars for everyone and more people wanted them with every year. There is already enough bitcoins for everyone.

That is arguable. There are enough satoshis for everyone to have a taste, but even now not everyone who wants a bitcoin can get one even if they have the fiat to pay for it.

Imagine if every millionaire in the world wanted just one bitcoin. What do you think that would do to the price? There are roughly 36 million people in the entire world that are millionaires. There will only ever be 21 million bitcoin, and estimates that at least 4 million of those are gone forever already due to lost keys.

If you want btc, the time to get it is before mass adoption. If you think mass adoption will never happen then maybe you are right, but I think it will.

https://www.quora.com/How-many-people-have-at-least-one-bitcoin

Interesting points, as for my belief on mass adoption: "I have no idea." However, whether it happens or not I still enjoy learning about and using cryptocurrency as a hobby. I think all of us here on BT have at least some faith in mass adoption though, we are all in this together!

It's crazy all of the stories about lost keys, it's like that one guy who was the owner of an exchange (I lost the article) who had a heart attack and no one knew the password to his wallet. Unfortunate, but with full sovereignty comes the inventible risk of losing your money: this is very easily preventable though.

Do you have any ideas on what mass adoption would even look like? I guess when you are able to tap a guy on the shoulder in a crowd and send him some Bitcoin? Or when even Joe's Coffee Shop accepts Bitcoin, idk it's kind of crazy to think about since it's all so limited now?

Grin probably qualifies for this ridiculous notion of an immaculate conception. It has an anonymous founder that also stepped away. It had a fair launch is decentralized and has many of the same conditions as Bitcoin's founding. This notion that Bitcoin is somehow perfect in its conception and that it is the only crypto that will survive is extremely and laughably false.

No he literally had profit in mind as a mechanism for adoption but I think now it was a flawed design relying on bubble after bubble for adoption. It brings people to crypto for the wrong reasons of monetary profit and not for freedom from governments and central banks.

You don't have to own 1 bitcoin to own bitcoin and I did not say there's enough of full bitcoins for everyone but enough bitcoins. You literally say that you are using dollars to pay even if all you have is 50 cents because dollar is the name of the currency.

 There is enough satoshis for everyone and this is the important part. Even if one day half of all bitcoins is lost there will be enough for everyone. The value that is now held by 1 BTC will one day be equal to 0.01 BTC or less.

yes i believe so it was first and is the most talked about crypto coin, if you ask a person not into crypto they will most likley have heard about bitcoin , if you ask them about eth they have no idea what you are talking about, so that has to push the price alot compare to the rest of the market, if it will always be the most valuble is another question becuse as you say the fees for small transactions are abit on the expensive side.

Unless there's really an altcoin or crypto that can challenge it, bitcoin will remain the most valuable crypto in the world. And yes, being the first crypto is one factor that makes BTC valuable. The trust of people is already built on bitcoin, and you can't blame them esp. that bitcoin has already established its position in the crypto world.

But just like what I've said, if there's an altcoin or crypto that can really give a great competition against the bitcoin, then there's a possibility that bitcoin will be dethroned. An example of this is ETH and LTC being overtaken by ThoreCoin and Maker in value/price. Another good comparison is how Nokia and Samsung beat Motorola (first company to make mobile phones) in terms of most popular phone brands.

Yeah! I think partially yes base on people's perception towards btc and other alts, among the reason why most people see btc as king of the jungle is because of it's been the first to set foot in crypto space, if you look at all the post in this forum about btc and other alts possibly dethroning btc, the argument in each post always contains btc is first and will remain so,
There you have it, btc is hold in high esteem just because it pop out first ;D

This is just my personal opinion. Bitcoin is not valuable because it was first but being the first Cryptocurrency is an advantage. It is a fact the Bitcoin is the mother of all coins and Altcoins is measured with reference to Bitcoin.

One good thing about Bitcoin is its popularity . We all know that Bitcoin is accepted to different establishment or businesses as an alternative mode of payment. This is not yet really evident to other coins which result to difficulty of transaction. Sometimes need to convert to BTC first.

no bitcoin is valuable because it is useful. the utilities it is providing and the way it is providing them (decentralized and secure) is giving it the high value and is the reason why it keeps on growing.

it is so much more valuable than others because others are pretty terrible projects. there has been not that many decent projects and unfortunately the top altcoins are all crappy coins that are either heavily centralized and get pumped and dumped or are manipulated bubbles that are about to burst. in such a diseased altcoin market no good coin can thrive which is why they are going to be far behind.

The basic concept of a decentralized cryptocurrency using blockchain platform was first used for Bitcoin. All the coins that came after Bitcoin used the same basic concept, with some modifications. Some of these coins may be more advanced than Bitcoin as far as their technology is concerned. However, the purpose and intention is the same and the differences are not big enough to replace BTC.

It can be one big factor to why bitcoin is more valuable than any other crypto. Because bitcoin is the first one most of the other crypto supporters such as Ethereum still supports bitcoin while all btc supporters does not support it. What Am I saying is that it has the largest user based crypto as of the moment.

If I am not mistaken bitcoin right now is still the most secured crypto as it offers the highest privacy feature than any other coin.

Lastly, the bitcoin structure was the just followed by any other crypto which means that eth itself  will never be created because of BTC.

It's valuable because of CURRENT consensus.  Not just because it was first... ask Kodak or Xerox or the betamax.   It doesn't mean it will always be the most valuable either, just ask Yahoo, Blockbuster, Pan Am, etc...

Well partially because it was first... but also because its the most popular and the network is gigantic.

it would be hard to dislodge Bitcoin. There are some hard-core investors into Bitcoin.
A simple answer would be the exchanges use BTC pairings and that has been the go-to for traders.

 

For me yes! Because bitcoin is first.first crypto has been known.that the fact I guess.how would you know the other coins if there is first.ofcourse you have to introduce first the coins and there is one name of xoin you should introduce first to be able to make other altcoins.because bitcoin was the first and been be known that it is strong kinds of coins.we call this of king of cryptocurrency tjats why bitcoin is so popular.ofcourse we always use things that it comes first that we know already be useful tjan tries others that will dissapoint you.but I know there are also coins that been popular also like ethereum but we always trusted the first.wait to be lost bitcoin before this will forget but I guess its not gonna be happen.I trust always bitcoin and will be valuable forever and ever

To be honest, I think it has a very huge impact. But then, can we really dump Bitcoin because of the technology which some might consider inferior? I cannot imagine anyone would do that except the people from the altcoin Bitcoin Cash.  ;D We all know that the blockchain that Bitcoin has started has been the inspiration of so many others, modified, improved to a significant extent, fees are much lower in others, much faster, too. But the value of Bitcoin has surpassed technology for now, it simply represents every other blockchain and the entire cryptocurrency.

i was thinking the same thing like you, maybe just because Bitcoin is the world’s first decentralized digital currency. Its value primarily comes from it being the first digital currency that no one can control it. Also being the first mean people give more trust to bitcoin it self

Partly, yes. It was the first cryptocurrency coin invented. But what makes bitcoin more valuable and special is that it brings amazing things like advance technology, payment transactions, database efficiency and many more. And Bitcoin was considered as valuable than others because of the  technology made called "blockchain".

again with this poorly argued discussion?!!

if everything that came first could be successful and valuable then hundreds of companies and products that were created throughout the history "first and before everything else" would have been the most valuable in the world. but we can clearly see that this is not the case.
for instance take facebook that everyone is talking about these days. it is not the first social media platform out there! there have been lots of others, many that people don't even remember their names. they were "first" but they all disappeared.

not to mention that bitcoin wasn't the first either! it is the upgraded replacement to other smaller and less secure projects that existed before bitcoin came along.

I don't think so, because if you look at its development before Ethereum appears there are also other coins but it can't survive, based on what I see through its development that makes Bitcoin very valuable because of strong community support.
Satoshi Nakamoto as the creator no longer shows real support (or arguably arises) in contrast to Ethereum whose creators are still actively providing updates, so this is all because the community has very strong, conclusions is the power of community.

Indeed you never know what is going on in non public spaces but it is the first one that did it right from the beginning and gained the traction needed to grow.

No op not only, it are the rules inn play that count also and the trust that come out of it.

I think the reason why most people trust Bitcoin is because it is decentralized. It is not controlled by anyone. It's developers doesn't hold the majority of supply (Except Satoshi Nakamoto, the founder) unlike those other coins who's supplies are already hoard by their creators. And also, Bitcoin does develops and copes with the present which is enough for the masses.

Having bitcoin as the first cryptocurrency doesn't make it more valuable than others. There are well known coins that worth something tangible but it can't be compared with bitcoin. The fact is that bitcoin has gotten the mind of people and its decentralized

Of course, not and as far as I know there was a cryptocurrency that was released before bitcoin and it was not successful. I don't remember that coin but you can research it has the problems that bitcoin was able to solve like the double spending. Bitcoin is only goes first if we a talk about a breakthrough on cryptography. I believe that its the community who supports it makes the most of its value.

Yes it is, many people are against that but they are like fanboy.its an old tech and there are many projects which are making everything better than bitcoin.

I didn't not even know this lol. Tho, even if bitcoin was not the first ever digital currency project. I can still consider it as the first out of the crypto industry which has the unique approach in terms of currency.

Tho, for the sake of the discussion here are the list of previous projects that attempts to create a digital money
https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/

Hashcash was the most successful before bitcoin

in general, the duration of time for transaction confirmation requires 10 to 30 minutes.  if the transaction is high, it will not take a long time. 
in my opinion, BTC fluctuations make popularity increase every time and create a mainstream in every market.  profit from volatility is greater than transaction costs, so until today, BTC still has a large volume.

No,bitcoin is so valuable because it has the best and most secure  blockchain protocol.I'm not a programming expert,but this is the main reason.The second reason is that bitcoin is the most well known cryptocurrency(most because it's the first one),so I can partially agree with your theory,but 'being the first' doesn't always mean that bitcoin is the best.

We can also say that the hype is really strong with bitcoin, and somehow bitcoin being hailed because he started this revolution, he started to help people and until now bitcoin keeps on working hard to attract new investors. Being a top coin is not easy, I’m happy that until now bitcoin is on top.

Well, indeed, bitcoin is not just the first coin but bitcoin is another crypto basis. Moreover, bitcoin has had trust from various circles, it is very difficult to replace. Take for example Ethereum, why is ethereum the first altcoin? yes, because this coin has high trust with the dApp service, well, therefore trust affects everything in crypto. Similar to BNB, they have good trust held by investors and traders.

Yea I think that this is really the conclusion I have come to after thinking about it for a while. Bitcoin's value didn't solely come from the fact that it was first, but being first certainly helped. Plus I have a bit of a negative view of Bitcoin right now, but in reality it is a solid system that was built to last.

yes, that is one of the other reason. because it first, make bitcoin have big value. many people buy and sell and its favored, used by a lot of people around the world though government not accept as payment (mostly they use as digital asset). bitcoin give best service like fast when you sent your coin to the other address, low fee make people agree to use bitcoin

In fact, one of the reasons, really, is that bitcoin was the first cryptocurrency. The first created cryptocurrency and the first cryptocurrency that people believed

Yeah it can be partially true, but it's not always like that, if the product has no innovation, something new will definitely replace it, it is business competition law. Look at Nokia, Blackberry, and other products they are the first version but have no innovation so they are abandoned.

Well to be honest dude, there are some altcoins that are much more good and better than Bitcoin just like Ethereum.
But since Bitcoin was established the big community in the entire world, now wonder why lot of investors embraced it maybe
because of its unique features it has that's all what I had noticed.

Bitcoin was very valuable because of its advanced and precious technology called Blockchain.


To be honest also, Ethereum has the ability to be sided with bitcoin but Ethereum is way far to bitcoin when calculating the gap. You didn't noticed the blockchain itself in bitcoin that's why it's the greatest and leading cryptocurrency of all. Ethereum is like bitcoin but with when talking about features and platform who adopted cryptocurrency, bitcoin is the best.

The real value of bitcoins goes beyond their market value, and they should not be viewed only as a safe haven to preserve value. The current fall in prices, of course, was painful for many who relied only on the rise in prices of digital currencies. However, the above comparison between a cryptocurrency bubble and the collapse of dot-com shows that digital coins will survive only when they create proper blockchain ecosystems and become useful to people.
Thus, it must be understood that Satoshi did not create Bitcoin simply as a subject of market speculation - so that the value accumulated in the hands of only a few. Bitcoin was conceived as an alternative tool that allows the exchange of value between people, bypassing the monopoly of existing financial systems, and such a tool should be widely recognized.

In my opinion, bitcoin is very valuable as a digital currency. Because bitcoin is the main thing in the crypto curenncy world, if it's a matter of development so people will leave this bitcoin, maybe this will happen sometime later but this won't happen anytime soon.  this, bitcoin still has a lot of devotees

Ethereum is not the "first" altcoin. It is the most popular altcoin currently in circulation, but the first altcoin was Namecoin (which was created in 2011, a few months before the creation of Litecoin). Ethereum is relatively young when compared to these alts such as NMC and LTC, as it was created only in 2015. But the advantage with Ethereum was that tokens could be created based on the ERC platform, and therefore it gained a lot of popularity during the ICO boom of 2016-17. It is another story that the vast majority of these ICO projects didn't had any practical uses. Right now, the main purpose of cryptocurrency is to act as a store of value. And users are preferring Bitcoin because the alts had copied the concept from Bitcoin (although the technology may be different).

BTW, you can check the ANN thread for LTC here: https://bitcointalk.org/index.php?topic=47417.0

They had initially described Litecoin as a "lite version of Bitcoin".

It is not about supply or market capitalization, it becomes valuable just because it places an important role in the community and it causing to raise its value compared to USD. With all that matters and the real purpose of its creation, we could say that Bitcoin will be more valuable from time to time.

Bitcoin has benefits of being first besides that its decentralized nature and underlying technology increases the acceptance level which also add-up the brownie points in its value

Everything that getting into existence for the very first time gains more importance as well valued high. This is the classic law, and same has got applied for bitcoin. The value got generated upon the demand to the supply, during bitcoin's early days it wasn't valued big. As days passed the demand got increased and to the same the valuation grew higher and higher with time.

No, but because it was so easy to copy and slightly modify the source code and rename it by anyone with even less than basic coding skills.

Bitcoin has such value because the coin is a director in the entire market. Incredibly a lot of people own bitcoin and for this reason, this coin is the price generator of all coins. Maybe further some kind of coin can replace Bitcoin, but for this, millions of people have to trust in it and buy it. Well, in addition, do not forget that Bitcoin is the creation of Satoshi Nakamoto, whose identity is unknown. Because in the world there are no controls on this coin.

The reason why bitcoin is very valuable, because bitcoin has a system that is very much needed at this time, it is not wrong if everyone wants to have bitcoin, even though it is very difficult to have it, but they never doubt about the system that is in bitcoin and strengthened by blockchain system ...

Just because Bitcoin was the first, it is so valuable. It is worth considering that of all known cryptocurrency projects, Bitcoin is the only truly decentralized coin, unlike many other famous coins.

That's right. Bit coins are the first coins. Now the way the market is flowing. So I think. After 8/10 years, there will be a change. Understanding the market situation, some other markets will occupy it. Can't in any way.

For me, bitcoin become valuable because it has the technology that are needed for digital transaction like never before.
Bitcoin has advantage as investment and fiat , unlike ordinary investment that we have known,right?

When there is something unique there will be the demand of it

Bitcoin is not valuable only because it came first.
There are several things that make Bitcoins what it is today. First of all it has the most dominant share in the market as compared to other Cryptocurrencies. Also it is more frequently used in transactions from consumer to companies and also because of its popularity. People trust Bitcoins more than any other currency.

Bitcoin is valuable because the blockchain works nice with incentives and is kinda balanced game open for anyone to invest into and mine blocks.

It is not only valuable by pure speculation, it needs to do all sorts of things where one needs a time stamping machine. Therefore only an fully onchain scalable and stable solution- the very original one will have long term sustainable value imo.

Bitcoin was the first one that did it real good. It could be improved, but it was good enough for many issues, thats where its value comes from.

Other forms of digital money existed before, but they weren't as secure, or were centrally tied (meaning weak); or were simply to cumbersome to use.

Bitcoin fee is often a mixture of misunderstanding and, in my opinion, bad wallet design. You see, for most situation you are fine with the lowest fee, regardless. Can you wait like one day? Then don't bother paying more than 1 Sat/B. But in many wallets this is either unavailable or quite hidden.

Being able to buy that cup of coffee instantly would mean perfection, but is not necessary to be useful. And yet off chain solutions are filling that void anyway, or you could be a bit more old fashioned and carry some spare change in some altcoin for these. Thanks to segwit the same thing people think to do with LN, could be in theory be done with say, Litecoin. That's because they can be exchanged directly now without going to an exchange, going straight from wallet to wallet. All that's needed is wallets that would do it...

Or if the world ls pleased with LN, then so be it. Only small quick transactions would need that anyway.

Being the first successful gave it a lot of value. and being alive after a decade (where several others have perished) has proven it to the markets.

Please define 'good' for us.

If I was looking to put money into an entirely digital asset with zero value beyond the belief users have in its value and utility I will be looking for network effect, security, attack resistance, decentralisation, competence and the spread and depth of development.

If something has none of that but 60 second confirmations on its one data centre chain plus a 'partnership' that consists of a canned fob off from whatever company they're lying about that's not going to sway me.

I don't think Bitcoin is chosen because it was first. It has been able to stand the test of time and has proven itself to be a good coin to invest. It also has a lot of uses, making it more beneficial.

Maybe that's true, because Bitcoin is Cryptocurrency which first appeared so that Bitcoin has the highest price.  This is because people are obsessed with Bitcoin being number one, and Bitcoin is the mother of all Crypto coins that exist today.  Even the statement that all Crypto coins depend on Bitcoin, making Bitcoin will always be number one.

Simply bitcoin meets most of what other currencies offer, it has gained the confidence of people since early so if there is no new breakthrough, bitcoin is still there and always at the top.

The biggest number of BTC that will be issued ever is 21 million (the last coin will be issued back in the year 2139).

Therefore, Bitcoin will be never affected by inflation. Another reason to invest in BTC is its real decentralization and anonymity. Finally, this is the cryptocurrency, which is known by all, even those, who are not yet going to get crypto.

BTC will stay the market leader, and it is in great demand.

To be first in a new industry is a huge advantage. Just imagine how hard would be now for someone to create a new social media platform and to compete with Facebook.

However, Bitcoin never suffered an over 50% attack,  which happened to a lot of other coins.

I absolutely agree with you. It's difficult to change people's minds. Once you hear something new and exciting, everything that comes after is let's say not original, a copycat. So people tend to stick with "The first" option, mostly because it's associated to their mind as the best.

I think it's all because of the limited number, yes because the number of bitcoins is limited so that bitcoin becomes very valuable and also very sought after. and also many who believe in bitcoin so that other coins are difficult to compete with bitcoin to master crypto

I don't really buy into the idea that bitcoin is valuable just because it was the first crypto coin to be launched in cryptocurrency. I think the number is limited and people are  in dire need to buy and hold bitcoin for sometime.

Personally, I don't really think that Bitcoin is so valuable because it was first. I believe that Bitcoin is so valuable because it introduced blockchain technology and the general ideology behind its development is one the financial ecosystem needed in order to introduce financial freedom.  Since Bitcoin introduced blockchain technology and the world has somehow endorsed this technology, this also influences its value massively.

It is a combination of being the first cryptocurrency and getting constantly updated (forked) for the bugs and issues. In my opinion, Bitcoin has retained its dominance for the last 10 years, because none of the competitors were able to give it any form of threat. There are coins out there such as Ethereum and Cardano, which may be more advanced in technical terms. But the basic concept remains the same as that of Bitcoin. Most of the additional features of these coins don't have any relevance for the ordinary users.

And for the newer coins, they have struggled to get a large user base, despite having advanced features. Perhaps cryptocurrencies need to be simple and easy to use, rather than embedded with all sort of advanced features which can take half of the total hard disk space in your laptop. The first and foremost use of a cryptocurrency is to make payments. And right now Bitcoin is doing that job perfectly. I can understand the concerns about high transaction fee, but sooner or later a solution will be found.

To a certain extent, yes. Bitcoin has become some kind of a limited edition cryptocurrency, a collectible of sort because it has moved the first stone, made the first touch and the rest are but ripples. And putting into consideration the huge disruption it has caused to the entire financial structure, it becomes a must for everyone, a coveted asset, notwithstanding the fact that it could not be the best crypto to spend and buy a cup of coffee. The fixed 21 million supply adds an enticing factor, looking scarce in the next following years.  

I am holding a lot of coins and tested some of it, I had some coins that can confirm a transaction in just a few seconds and without a fee, and you will think it's very much better than Bitcoin, and I also experience sending Bitcoin and have to wait for a whole day for the transaction to confirm, and you will wonder why you're still using Bitcoin to transact, with some disadvantages attached to it.

But you will not understand the underlying theory and facts about Cryptocurrency and blockchain without going to Bitcoin first, everything starts with Bitcoin, of course, there will be a fix coming, I believe it's valuable because it's the one that started it all, we can add more coins to our portfolio but Bitcoin is the one that revolutionizes everything here.

Yeah, it is more valuable when the value of bitcoin hits sky in the year 2017

Being the first cryptocurrency has its own advantage, and it could be one of the reasons why bitcoin is so valuable. But the adoption and scarcity affect its value. As many popular brands have started to accept bitcoin, people now trust bitcoin more than any other cryptocurrency.
Although there are many altcoins better than bitcoins, the popularity of bitcoin will always keep it at number 1 position.   

I think Bitcoin is not valuable just because it was first. Bitcoin is popular and valuable because of its features. Bitcoin price is a big factor why it's more valuable than others. I think the crypto market is running successfully because of bitcoin. People are getting interested in crypto because of bitcoin.

If we look around, no other crypto can touch bitcoin. Bitcoin is giving us more opportunities and better facilities that other crypto. Even Ethereum can pass over bitcoin. Bitcoin is the king of cryptocurrencies for its features and no other coin can cross it.

That was at least one of the reason why Bitcoin is so valuable. Bitcoin is so versatile and people are looking for ways to earn it. All of the Alternate Coins are going back to Bitcoin because of the Market volume of Bitcoin is too high and that also one of the reason Bitcoins value is too high. Bitcoin is only one of the Crypto that can be turned into cash and most of Alternate Coins does not even have this feature.

Indeed true, but still altcoin remain as bitcoin clone. Bitcoin established so much believer in the entire world
were most of the merchants adapted the features and uniqueness of bitcoin usages in terms of blockchain technology.
so, its not true that bitcoin so valuable because it was first, nope that's not it dude. Its because of the features why
people embraced it so much.

I would like to think it has everything to do with this and since it's still going strong and no sign of being displaced it will remain like this for a long time.

Maybe if a consensus is reached to change the crypto standard we might see a new coin heading the flock but things don't work this way.

Better facilities in bitcoin ummh I would like to see people debate about this as I don't think this is true. AFAIK there are coins far much better than bitcoin but lack popularity.

The Value over hard cash and all other online Payment Services is that user are protected by not sending their private data with the tx but having the digital signature proving the action and ownership legally.  Sad that old btc changed that. So the Real Value is only coming from the original design and the onChain Security...

Well, look at examples of big and famous companies such as Apple, Microsoft etc.
Being the first to develop a new product, they have gained market advantage.
Also, many people first hear from mainstream media about bitcoin, so bitcoin became their ''entry point'' for crypto market.

In a way or so, yeah. Bitcoin does have its own advantage for being the first crypto currency to be be used. Those advantage has a long lasting impact on the market. When you talk about crypto currency, the first thing that comes to most of the peoples mind is "bitcoin". This is because the word "bitcoin" has been out there from the very beginning. Thus people starts to trust/believe in bitcoin more than any other crypto currencies due to its reputation. This is eventually fade out as time passes by and a new currencies might end up dominating the market.

For me, yes, bitcoin is so valuable because it was the first successful cryptocurrency that has a different capability and ability. The decentralized currency that no one can control, improving blockchain technology, increasing acceptance & legality, etc. But if someone will create another cryptocurrency that much better or making a new version of bitcoin that will become bitcoin 2.0 that improve all good aspect of bitcoin, I think bitcoin value will drop and most cryptocurrency user will choose bitcoin 2.0. Imagine much acceptable, much higher blockchain tech and much valuable; I'm sure that you will pick the new version if that happens. :)

Bitcoin is not valuable just because its first but because it has been a very successful cryptocurrency since its inception. It has proven that, blockchain technology as well as cryptocurrencies have a future and there are here to stay.

The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space.  Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..

I think I might agree with you 100%. So far as blockchain technology is been used by people and institutions or platforms, bitcoin will always be valuable since blockchain technology and bitcoin move hand in hand with each other. Bitcoin will only become less valuable when blockchain technology is no long in use.

Because of bitcoin, blockchain technology was introduced in the community. We always associate bitcoin with blockchain. No wonder, mass adoption is great in bitcoin as compared to any other altcoins. Many have copied, imitated, improved the bitcoin network, yet, they do not succeed in competing with the popularity of usage of bitcoin. People always go back to bitcoin.

Agree, the advanced technology that we must cherish is the blockchain. It's great and we can have more innovative developments on that advanced technology. That's the reason why Bitcoin rose up, it's because of the blockchain that holds the bitcoin for so long. Once the blockchain technology gets more additional features, they will stay and invest more on bitcoin because the possibilities to reach the moon will get bigger.

It isn't about populairty or first cryptocurrency ever have. it's about new technology about payment, when people have problem about centralization, Bitcoin came to repair using new methode.

Except that btc and having signature lost by risk + high fees in the sum is no good payment any more...

Along with the Bitcoin's seniority, the availability of the BTC in the market with easy market access as compare to the other altcoins make it valuable.

This is actually an interesting question but when you think of it, anything that has been created first is considered to be the reigning/dominant one in their respective market. But what makes BITCOIN different is that it introduced the blockchain technology. Due to the blockchain technology, it sparked and revolutionized the payment methods which caused a myriad of creations of altcoins.


Popularity does play a role but not the entire reason on why it is successful. If you were a revolutionary product and the first of its kind, you have the monopoly, control, and demand over the market. Popularity alone may boost your sales and attract other investors.

I did not think about it, but perhaps this is one of the reasons why bitcoin has become so valuable

I think bitcoin is not just the first, but bitcoin is now one of the most high-priced coins and low total supply. so I don't think it's the problem of the first coin, but it is also the type of coin that is most interested in the market.

I think it is so valuable because it was first and enough people jumped on the BTC bandwagon to protect the chain. People also got very invested in mining and seeing how much money they could make by doing so where as now chains are moving to staking system

Bitcoin is like how the USD is in the fiat world. Pounds and EURO can be seen as altcoins. I also think people believe in bitcoin since it was the first crypto made by satoshi and that is a huge selling point on its own.
Some forks have altered motives perhaps? It is actually not easy to explain.

I  also believe it has something to do with "elitismn" such as owning a BMW or Mercedes sports cars. The name brand. Known, trusted and working.

Being the first in line is definitely an advantage for Bitcoin. But that for sure is not enough to remain on top of the game. Then why is Bitcoin still doing well amongst users?
Well, first of all, we have to understand and analyse why it does better than other cryptos. Since it has been around for so long now, Bitcoin has gained the trust of its users and is gaining more every day. The trust factor plays a big role in Bitcoin’s rise.
Secondly, no matter what people might say, bitcoin has given large returns on investments from time to time. There’s no denying that others have too. But the volume of returns on Bitcoin just cannot be ignored.
The time for transactions being processed is more the problem of the block chain process rather than that of Bitcoin. And it is a known fact that the world knows crypto currencies because of the rise of Bitcoin to the mainstream.

So many beautiful questions. That's the first coin that's right. But technically Bitcoin. Best of all. First of all, no other coin is so much more transaction. And there is no such qualification. Bit coins are the best. The best one will be there.

Bitcoin is valueable.but here us not only one reason.it was the 1st so that it os most popular than other digital currencies beside it is expensive and familiar to people so moreover people trade with bitcoin.for these  reasons  bitcoin is the valueable currency.

Bitcoin is valuable not because it has the trust of the people but it is because of blockchain technology.  Bitcoin arrived with blockchain technology which introduced decentralization ushering people in the financial ecosystem with financial freedom. I don't see any altcoin which is better than bitcoin in terms of technology or products backing them. Most altcoins use bitcoin's algorithm to develop their own blockchain network without having any particular solutions to solve gaps seen in the financial space.
Bitcoin is better because it solves and bridges gaps seen in the centralized financial systems.

You have such a great  question but in business  when you build house  hold  name u will always be valuable.   a lot  people has  heard about bitcoin but they don't know  anything about cryptocurrency. Most people  think there is  no  other  cryptocurrency apart from Bitcoin.  when  ever someone  want to  adopt   cryptocurrency  the  first  word to  come to his  or her  mind is  bitcoin.  first wallet  to  get  is  bitcoin wallet when a business  build him self  this way  nothing can stop it.  bitcoin got  allot of history and other coin always used  the history of bitcoin to  convince  investor to  buy their  coin.

I think it is also the reason why bitcoin is so valuable because it was the first cryptocurrency that was ever made. A lot of people also trust bitcoin than any other cryptocurrencies, that is why bitcoin became more popular and more people buy bitcoin than any other cryptocurrencies. Bitcoin is also the first cryptocurrency which have reach it's price up to $ 20k in the year of 2017 but it started to decreased in the year of 2018. After that a lot of people still believes that bitcoin will recover it's price once again.

Good point and I don't think so. Well, from my own point of view it is so valuable not because it was first but it's because of the demand and if there is no more supply the price will rapidly increase but it is only for a short period of time since the value of crypto is volatile. The founder of bitcoin was so very famous and until now, he/she still hiding for the sake of the security of himself. So, he leaves an open-source system behind bitcoin technology so that everyone could access it and develop very well.

Of all that is about popularity, as we know the popularity of bitcoin itself is very high when compared to other coins below, and it is about the first that makes the demand for bitcoin continue to increase until it cannot be replaced. So even though there are many valuable coins under bitcoin that have proven to have good potential, but because of the popularity of the situation can no longer be changed in a short time.

we cannot say that everything came because of chance , luck is the result of work and attempt
it seem that bitcoin have who support it before , and beginning of his creation , publicity led to its spread using the Internet
The opportunity is equal for all geniuses or humans without constraints of the time , but intelligence, patience, effort and hope can make a difference

Honestly this is a good and a hard question to answer.
Due to many factors, the way Bitcoin was created can never be replaced by any other cryptocurrency. It was created decentralized, a certain amount of coins ( low supply ) , the code itself was astonishing for that time, no investors ( so it survived without having any funds ), strong community , top tier devs and it was almost free at the beginning so all this factors created the most powerful crypto who ever existed and it will continue to exist.
Even if it was not the first it would have still be number 1 as it was designed in this way so for those who are saying its number 1 just because it was first ( and I see a lot of posts ) please study again the inception of bitcoin and how it all began because it had no funds, no investors just a hand of people trying to change the world. Do you think another crypto would have survived all those years without funds ? Think again.

because bitcoin is money the other ones are projects i mean if you are investing in some project you are not investing in the "tokens", you are investing in some actions representing that project.

bitcoin was made  to be money, altcoins are made  to improve some technology or create something new.

bitcoin = gold (money)
projects = actions representing that enterprise.


you need "gold (money)=bitcoin" to buy some " project (tokens, altcoins)=actions"


so if every body need money=btc to buy actions of an enterprise what do you thing that can happen with the value of the  (money=btc).


bitcoin is the money of internet
altcoins are the project that are generated in the internet.

the question is why bitcoin is money and the other projects are not.  

Exactly what point (or counter point) where you trying to make here? Microsoft? Apple? You gotta be kidding. Both copied a product developed FIRST by Xerox, and Xerox, despite having spent resources in developing, didn't pay it attention. Yes, Xerox, and not those two copycats, made the digital office that you know and use today, in the 70ies. It took another decade for others to do the same (cheaper).

Granted, Apple (Woz) had its own merits BEFORE the Mac (Lisa), but not afterwards. And Microsoft, always buying what they needed and then presenting it like their own. Did it for 3 decades, just nail the best business deal and then procure whatever was negotiated on the market...

Technically Bitcoin wasn't even the first, but perhaps after enough reiterations, the one that did it RIGHT. Who did personal computer software right? Microsoft? Get lost. They even wanted people to use their own internet like network rather than "uncontrolled internet", and guess what happened...

Same as Bitcoin.

Hmm, being the first succesful (take note, the first succesful not the first) make it established its presence, but that is not the reason why it is the most dominant. I think the main reason why it is still the most dominant is because it is very innovative and and very adaptive. It's ideology and adaptivity is the main reason why it is the most successful one.

A core of proven Devs helps.     8)

It is #1 as we have the opportunity to invest in this technology and make a profit along with the growth of its adoption by the masses. Bitcoin creates value for both earlier investors and new ones, providing more and more chances to use currency, the amount of which is limited.

This is not a hoax or theft, but simply the law of supply and demand in action, the ancient economic principle.

Technically Bitcoin wasn't the first. There were several experimental technologies that were played with before making BTC like Bmoney and other such developments. I will say that Bitcoin arriving first is one of many reasons BTC is doing well though.

The Bitcoin Blockchain is created as a functional successor for tries and studies from Stornetta (referenced 4 times in the Satoshi White Paper!) In order to have an immutable open electronic ledger that can store any important information along a tx . That was created to reduce fraud a lot since u can now really trace if 'shit' happens. That will reduce shit a lot.


All efforts to make BitCoin annonymous will distroy that most important feature for our world and lower the adoption potential and lower the value

https://youtu.be/_EQDiJ92VaI

The power and value is in the chain. On chain

Many projects or companies that were first in something, and people are used to them, have achieved great success, like IBM, Microsoft, Apple etc.
On the other hand, there are other examples like MSN search engine vs Google search engine, hotmail vs Gmail etc.
So, there is no such rule that something is valuable just because it came first to the market.
This crypto story has only begun and is only 10 years old, so it is too early to tell whether bitcoin will truly remain the market leader.
We will see.

Surely bitcoin had a headstart. It was the first coin and first community coin. Many developers learned blockchain with bitcoin and many users started using crypto with bitcoin.
There's a deep bonding with bitcoin for most of the crypto enthusiast. Not only that, bitcoin is the largest and arguably most decentralized coin. It's the most tested and exploited coin.
That makes it fail proof to some extent.