Bitcoin the powerhouse of cryptocurrency

[BVeyron]

CONCLUSION......My view in the world of Blockchain technology stands as a testament to the power of innovation and decentralization. Bitcoin did not holds significant market value, but also serves as a symbol of a paradigm shift in the way we perceive and interact with money and technology. As we move forward, the influence of Bitcoin on global finance and beyond is understandable, shaping a future where decentralization and digital assets are integral components of our modern world.

Bitcoin is the main cryptocurrency, this is true. This cryptocurrency is trusted, it didn't have problems with becoming too cheap (unlike many other tokens). So the adoption of BTC is most likely to be the highest of all the cryptocurrencies. As for its value, I assume long-term BTC hodling is far less risky than hodling  any other cryptocurrency.

[BlackHatCoiner]

So when we talk about market cap, it makes sense for bitcoin because the bitcoin supply is all real and was entered into circulation as the reward for the work that was done by miners.

It still doesn't seem like an accurate metric. Before cryptocurrencies, it was meant to represent the size of a company financially; the company's capital one might say. There is no such thing in bitcoin. Currently, 1 BTC = $27,100, with a market cap of $528.8B. If some large company buys $1B worth of bitcoin, it will increase the total money inside the system but not as much as the market cap will reflect. For instance, it could rise the price by 5%, but the company wouldn't have added $26.44B (5% of the market cap).

For example the altcoin with the biggest market cap has 72 million premine and at this point it is being printed out of thin air artificially inflating its market cap.

Sounds like we should switch the currency which we use to measure market cap. 

[tokyohd]

Bitcoin, the pioneer cryptocurrency, stands as a powerhouse due to its decentralized nature, limited supply capped at 21 million coins, and widespread adoption. It revolutionized digital finance by enabling peer-to-peer transactions without intermediaries, offering security through blockchain technology. Its scarcity cultivates value, driving interest and investment. Bitcoin's resilience against inflation and geopolitical uncertainties attracts individuals and institutions, cementing its role as a store of value. Its impact on shaping the broader crypto landscape, influencing technological innovations like smart contracts and altcoins, solidifies its status as the leader in the cryptocurrency realm.

[GreatArkansas]

This is the reason why I really don't trust most of the altcoins right now. It's like they are only here to steal your money while if you just put it on Bitcoin, you will feel secure and able to sleep every night.
We all know altcoin is high risk: and high reward and take note that there are a lot of them while Bitcoin is only one. So for me, I rather go for the safest and consistent reward than risk huge.

[Hamza2424]

Bitcoin is more than just a cryptocurrency. It embodies a groundbreaking shift towards a decentralized financial landscape. An important fact to also note is that Bitcoin's scarcity is fundamental to its value proposition. It makes sure that it remains immune to arbitrary inflation.

Hmm, interesting.. DeFi world with BTC can have boundless opportunities, for now I would like to comment on the inflation with BTC, as you have used the arbitrary it seems like you already knew something about the time inflation with Bitcoin. Bitcoin does provide a hedge against inflation but BTC is not anti anti-inflation solution because Bitcoin inflates.

The fundamental aspects of Bitcoin are strong enough that we can say the only reason the crypto market is still standing over and over again after so many crises. "Bitcoin is the powerhouse of cryptocurrency" can be taken into account because Bitcoin is the reason we have explored this dimension to this level that is now near in future it will be the most used technology. I do support a few altcoin projects but I think except for a few most them are shady bussniess.

[Wimex]

Certainly Bitcoin emerges as the pioneer that truly changed the game, I found it amazing to see how the first Blockchain ever created not only gave life to a multitude of other cryptocurrencies, but also completely transformed our perception and way of transacting with money. Decentralization also has a profound impact on financial inclusion… I have seen that in many parts of the world, access to traditional banking services is limited or non-existent, so in this context, bitcoin can offer a viable solution by allowing anyone to With internet access I can participate in financial transactions and access basic financial services, of course, in some countries this does not happen, there is still a lot of ignorance regarding BItcoin, for example my country. That is why I have been trying to get more people know about Bitcoin little by little, to get them to become more educated about this technology.

[DeathAngel]

Bitcoin is far superior to other cryptocurrencies for many reasons. It has the largest & most established network providing greater security & reliability. There is a limited supply making it resistant to inflation & potential devaluation. Its decentralised nature ensures that no central authority can control or manipulate it. Bitcoin's widespread adoption & recognition make it more accessible for trading, investing & everyday transactions. Its pioneering technology (the blockchain) has inspired countless innovations & paved the way for the entire cryptocurrency ecosystem. Overall Bitcoin's unique features and first mover advantage contribute to its prominence in the crypto world.

[hd49728]

Bitcoin is far superior to other cryptocurrencies for many reasons. It has the largest & most established network providing greater security & reliability.

It is very important because investment is made with trust. Bitcoin network is strong enough to gain trust from investors and is part of factors to convince potential investors to spend money for buying bitcoin.

There is a limited supply making it resistant to inflation & potential devaluation.

It is solid like rock. No one can change total supply of Bitcoin and its circulating supply only becomes less than its total supply with time as more people lose bitcoin and contribute to more bigger lost amount of Bitcoin.

Its decentralised nature ensures that no central authority can control or manipulate it. Bitcoin's widespread adoption & recognition make it more accessible for trading, investing & everyday transactions.

The truly decentralized network of Bitcoin helps it to avoid attacks and censorship on transaction confirmations. It gives Bitcoin users their own banks and no longer rely on banks for capital movements. Bitcoin holders only have to broadcast their transactions with enough transaction fee to get confirmations from miners, then it's done by miners, no engagement from banks or governments.

[Bebe22]

Bitcoin and altcoins, are related in the sense that they are all based on blockchain technology and operate within the broader cryptocurrency ecosystem. Bitcoin, being the first and most well-known cryptocurrency, often serves as a benchmark for the entire market.
Altcoins, on the other hand, refer to any cryptocurrency other than Bitcoin. They were developed to address certain limitations or improve upon specific aspects of Bitcoin.

Altcoins can be categorized into different types, such as utility tokens, security tokens, stablecoins, and more. Some altcoins aim to provide faster transaction speeds, improved privacy, smart contract functionality, or niche applications within certain industries.
Bitcoin's value and market movements often influence the overall sentiment and direction of the cryptocurrency market, including altcoins. When Bitcoin experiences significant price movements, it can cause a ripple effect throughout the market, impacting the prices of altcoins as well.