Why Bitcoin has power nowadays ?

[evgeniyosda]

I think people see Bitcoin getting power, simply due to the fact bitcoin was initial.Traders on the other hand see a currency crash happening or even worse a world-wide inventory market place crash. Which is why they diversify in Gold and Bitcoin.

[ViperCS]

Bitcoin has become a new power in the world of money as we all know that all sides deal with it so it has to survive until it become the powerful source of life . So what it is difference between bitcoin and other cryptocurrencies? and why Bitcoin has become powerful among other currencies and cryptocurrencies  ?

Firstly ,let us define bitcoin by defining cryptocurrency briefly then pass to make a contrasts between Bitcoin ,Dogecoin and litecoin .
We hear always that bitcoin is the money of the future .this expectation can be taken seriousely when we see bitcoin nowadays and how much transactions executed per day which is surprising . we can say that bitcoin is a cryptocurrency and cryptocurrency is a money which is not traditional rather it is digital or numerical which works electronically ; the most common cryptocurrencies are Bitcoin , Dogecoin and litecoin and bitcoin has something special in contrast to others and this specialty is represented by the number of transcations made per day and its volume, so bitcoin and litecoin and dogecoin differ in their volumes which will interpret to us that bitcoin has power nowadays.

In fact bitcoin is increasing exponentially in volume and numbers of transactions which will get us to the hell of thinking that bitcoin may take the lead of other cryptocurrencies if we don't say that it will take the lead of traditional currencies.because it has power which can fortify its presence in today world.

Main reasons are Safe Alternative in a Cashless Society
Bitcoin and other cryptocurrencies represent a solution if the Fed abolishes cash.Instead, all transactions will occur electronically through the banking system.
That way, the Fed and other central banks can set interest rates to negative 5% if they want to, and we’ll have no other alternatives. Bitcoin allows you to bask in the glory of a borderless currency one that lies far beyond the reach of any single government or dictator.

[abyaby123]

The reason why Bitcoin is the number one cryptocurrency is pretty simple: It was the first one. This first mover advantage persists, because Bitcoin quickly established the biggest support both from users and from developers. Having the biggest user and developer base maintains a strong network effect, that tends to draw in more users and developers, because the system appears attractive and is well-established as a payment system.

For any altcoin to compete with Bitcoin, it would have to offer something revolutionary new and useful, that can't be implemented by Bitcoin. Today's altcoins are mainly a testing ground for new ideas, that will end up being added to Bitcoin if they are good, leaving the altcoins that first introduced them behind (a current example for could be rootstock vs. ethereum).

ya.ya.yo!

Good you have given best reasons ever. Few other reasons are as below - Better Than Gold
Once a person has accumulated wealth, security becomes a big deal. Dollars lose value to inflation. Stocks are risky. Bonds are risky. And for the safety-minded investor, bitcoin solves two problems in one move:
Its value holds up when the markets tank.And it doesn’t take up any physical space.To hedge against inflation, most people look to gold as a haven for their wealth. After all, it’s served as a store of value for people for centuries.
Right now, $1 Million will buy you about fifty pounds of gold at $1,319 per ounce.
Sure, you could easily bury that loot in the backyard for a rainy day.But in an emergency where you have to — say, evacuate your home in a hurry — that fifty pounds of gold becomes a heavy burden quick.On the other hand, bitcoin is weightless and is stored eternally on the blockchain.
So as long as you have access to the internet, you have access to your bitcoin holdings — no matter where you are. Heck, as more businesses around the world accept bitcoin as payment… there may not even be a need to hold any country’s official currency in the not-too-distant future.

[KaliLinux]

Bitcoin is powerful because of users and creating demands. Bitcoin is the first crypto technology money So first will always have a king size. Nobody can control this since its decentralized. It is not illegal to stop and its already got some strong place in a market

[coynedterm]

Bitcoin is powerful because of users and creating demands. Bitcoin is the first crypto technology money So first will always have a king size. Nobody can control this since its decentralized. It is not illegal to stop and its already got some strong place in a market

Yeah , this is the truth in the bitcoin market that everyone prefer bitcoin for the transaction at prior .
Even the bitcoin is king now and I think it will also will remain king in the future , but still here we should not forget that in the present time people started to give priority to the Etherium coin for the transaction of payment and also for trading .
Here we can see how the ICOs are using Etherium now instead of btc .
In the last 2 week ago we already seen that why the doge and some other coin small get fluctuated more because due to down in the bitcoin they thought that doge and eth like coin are better option for the investment , so in opposite conditions most of the traders moves toward these coins from bitcoin .

[plaintiff77]

bitcoin is the first, and it is the one that started everything in crypto, it's the more safe and more developed, i think the other coisn need to prove to be worth more than bicoin not the opposite, there is still a chance to have a better coin in the future, but there are chance to develop bitcoin even more covering the hole and make it the ultimate cryptocurrency, also right now it's a very good safe heaven

First, Bitcoin become one of the most power industry/market in the world. Bitcoin can provide good future to people and to the society. Bitcoin also may help a country to develop it's economy status and may contribute a source of fund to government to make more project that will help the countrymen to have a success future.
 

true, that bitcoin has a power at present times. This crypto currency is one of the most reliable among all. It plays a crucial role in the society. in other words there is easy money in it when you strive hard. Its population grows bigger and bigger since aside from earning you also learn. It dominates almost everyone for its great purpose.

[neonshium]

Bitcoin has power because it is more decentralized than ever. Even mining, that has become more decentralized so this is the best thing to keep BTC immutable.

I do not know what you are talking about bitcoin mining is awfully centralized and the miners seems to be bent on creating their own forks and coins and create even more profit for themselves, BCH is completely centralized and I think something similar is going to happen to segwit2x.

It is true that bitcoin itself is a decentralized digital currency but the fact is that bitcoin mining has yet not become centralized .this is because various mining sites are not working under one head or are not associated with one nationality.

The matters are molded according to the situation that favors the miners most .if at any time the mining process becomes centralized then it would really become hell difficult for the seekers to collect the BTCs.

[webdevmastery]

yes bitcoin has the power now a days because bitcoin serve us a good promotion over a long period of time..and the most well known currency of all times

[knightmairesaint]

The reason why Bitcoin is the number one cryptocurrency is pretty simple: It was the first one. This first mover advantage persists, because Bitcoin quickly established the biggest support both from users and from developers. Having the biggest user and developer base maintains a strong network effect, that tends to draw in more users and developers, because the system appears attractive and is well-established as a payment system.

For any altcoin to compete with Bitcoin, it would have to offer something revolutionary new and useful, that can't be implemented by Bitcoin. Today's altcoins are mainly a testing ground for new ideas, that will end up being added to Bitcoin if they are good, leaving the altcoins that first introduced them behind (a current example for could be rootstock vs. ethereum).

ya.ya.yo!

I agree. Being first is all that matters. It is the major breakthrough. It is the original idea. The second one is just adopting the idea. And since they adopted the original idea, the first one can control the second one and the others by manipulating them to increase their advantages towards them. That's why bitcoin is the king. It holds the most important idea of cryptocurrency which others partially adopted. This only my opinion about the topic.

[migolmigol]

Bitcoin has become a new power in the world of money as we all know that all sides deal with it so it has to survive until it become the powerful source of life . So what it is difference between bitcoin and other cryptocurrencies? and why Bitcoin has become powerful among other currencies and cryptocurrencies  ?

Firstly ,let us define bitcoin by defining cryptocurrency briefly then pass to make a contrasts between Bitcoin ,Dogecoin and litecoin .
We hear always that bitcoin is the money of the future .this expectation can be taken seriousely when we see bitcoin nowadays and how much transactions executed per day which is surprising . we can say that bitcoin is a cryptocurrency and cryptocurrency is a money which is not traditional rather it is digital or numerical which works electronically ; the most common cryptocurrencies are Bitcoin , Dogecoin and litecoin and bitcoin has something special in contrast to others and this specialty is represented by the number of transcations made per day and its volume, so bitcoin and litecoin and dogecoin differ in their volumes which will interpret to us that bitcoin has power nowadays.

In fact bitcoin is increasing exponentially in volume and numbers of transactions which will get us to the hell of thinking that bitcoin may take the lead of other cryptocurrencies if we don't say that it will take the lead of traditional currencies.because it has power which can fortify its presence in today world.

I agree and disagree with some parts of your statement. Bitcoin in pioneer so it is the most powerful but I am not sure it is increasing exponentially, the more people come to internet exchange the more bitcoin fans will be attracts.

I agree with the explanation on how it is powerful compared to other cryptocurrencies. But what makes it powerful to the other investment instruments (like stocks, bonds,  etc.) is it's ability to be traded easily. All you need to have is a Bitcoin address which can be done in your device and trade as well in your device. There are no need of personal confirmation and minimum required investment. In fact you can create an account and not trade yet if you are waiting for a lower price.

[Howell]

Bitcoin has become a new power in the world of money as we all know that all sides deal with it so it has to survive until it become the powerful source of life . So what it is difference between bitcoin and other cryptocurrencies? and why Bitcoin has become powerful among other currencies and cryptocurrencies  ?

In fact bitcoin is increasing exponentially in volume and numbers of transactions which will get us to the hell of thinking that bitcoin may take the lead of other cryptocurrencies if we don't say that it will take the lead of traditional currencies.because it has power which can fortify its presence in today world.

I think that not because bitcoin is the first cryptocurrency and being as a new innovation but because also that  the community behid bitcoin have never left bitcoin alone. Many companies have invested in bitcoin and are still working with it, sometimes it is overrated sometimes undervalued.

I think bitcoin's pioneer role is one of strong pillars bitcoin has - the huge community and capitalization all are early bird advantages. Bitcoin has answers for a number questions and yearning of people over the years and people on coming in contact with it, hardly let go.

[BUK2016]

Bitcoin has become powerful because the origin of crypto currency started with bitcoin. Any where crypto currency is mention what come to mind is bitcoin followed by any other altcoins. The demand for bitcoin is so high, and the acceptability world wide is the reason behind its value that has currently become so high as compared to altcoins.

[Potato Chips]

The reason why Bitcoin is the number one cryptocurrency is pretty simple: It was the first one. This first mover advantage persists, because Bitcoin quickly established the biggest support both from users and from developers. Having the biggest user and developer base maintains a strong network effect, that tends to draw in more users and developers, because the system appears attractive and is well-established as a payment system.

For any altcoin to compete with Bitcoin, it would have to offer something revolutionary new and useful, that can't be implemented by Bitcoin. Today's altcoins are mainly a testing ground for new ideas, that will end up being added to Bitcoin if they are good, leaving the altcoins that first introduced them behind (a current example for could be rootstock vs. ethereum).

ya.ya.yo!

I agree. Being first is all that matters. It is the major breakthrough. It is the original idea. The second one is just adopting the idea. And since they adopted the original idea, the first one can control the second one and the others by manipulating them to increase their advantages towards them. That's why bitcoin is the king. It holds the most important idea of cryptocurrency which others partially adopted. This only my opinion about the topic.

no, being first is not the fundamental part. if your invention has a huge potential but with many flaws it doesn't matter if you're first as it will most likely will dump. if you have searched for the history of bitcoin, you'll know that there were other various digital cash system before bitcoin and satoshi was inspired and adopted bitcoin from them. he didn't actually intend on creating a currency but just an electronic payment system at first but after many tries he arrived on a decentralized payment system. the fundamental part is your invention, what makes it unique from all.

[eye-con]

we all know that money is the useful power in the whole world. with money you can do everything, you can buy everything, and you can also achieve everything.
bitcoin is also considered as money, since it becomes more valuable than before, and its price reaches the attention of everyone. that is why it has a power, it has the power to call the attention of every people who heard about it. and there are some people who says that in the future the value of bitcoin will become equal to 1 lambo, which really calls the attention of every holders around the globe.

[Senja Kemuning]

Bitcoin has become powerful because the origin of crypto currency started with bitcoin. Any where crypto currency is mention what come to mind is bitcoin followed by any other altcoins. The demand for bitcoin is so high, and the acceptability world wide is the reason behind its value that has currently become so high as compared to altcoins.

yes true and everyone will make bitcoin as the base of the price of another coin. in addition to the ever-increasing user, more and more companies are developing bitcoin into a large force of bitcoin so bitcoin has power nowadays and future day.

[Apple Mac]

Bitcoin has the power for sure and mostly cause of it's the most well known currency among other crypto correncies, bitcoin had good promotion. And nowadays good promotion makes just miracles.

I think thats true , The mere fact that it is the first ever crypto-currency that was created it has the capability to gather and attract attention also for its amount which may pursued people to immediately learn everything they need to be profitable. Governments nowadays has conducing research regarding this sytem and they already studying on what its capability to help each country specially, economically speaking,

[Sonin1944]

Ironically adequate, development has no impact on Bitcoin. Most of the altcoins are more innovative than it, but Bitcoin being the first a single, it is the most significant crypto-forex, and that will by no means change.

[Panah Arjuna]

I do not think that bitcoin is the first cryptocurrency and a new innovation but because the bitcoin community never leaves the bitcoin alone. Many companies have invested in bitcoins and are still working with them, sometimes too overrated.
If you mean bitcoin is very strong among other crypto like you
mention it in your comment, then I agree because there is no other crypto (altcoin) that even approximates bitcoin in usability.

[hyunee]

It is the first cryptocurrency thats why it has the power above all cryptocurrencies. Well it also shows that people are patrionizing bitcoin since the birth of it. Many investors invesr because they have a trust in bitcoin.

[Sedorikku]

The reason why Bitcoin is the number one cryptocurrency is pretty simple: It was the first one. This first mover advantage persists, because Bitcoin quickly established the biggest support both from users and from developers. Having the biggest user and developer base maintains a strong network effect, that tends to draw in more users and developers, because the system appears attractive and is well-established as a payment system.

For any altcoin to compete with Bitcoin, it would have to offer something revolutionary new and useful, that can't be implemented by Bitcoin. Today's altcoins are mainly a testing ground for new ideas, that will end up being added to Bitcoin if they are good, leaving the altcoins that first introduced them behind (a current example for could be rootstock vs. ethereum).

ya.ya.yo!

the reason behind bitcoin has a power to rule many people is because it was a very good source of income and many people are depending  on it so they are counted as the population here in bitcoin.