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Author Topic: Why Bitcoin become Famous??  (Read 28793 times)
Quicksilver143
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June 30, 2017, 02:33:41 AM
 #1

Can you give some reasons about this???

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June 30, 2017, 03:13:14 AM
 #2

   I do think that bitcoin has become more and more famous today because as we can see in the market place the price of bitcoin has incredibly increasing everyday and as what happen just recently the WannaCry ransomware attack, it has gain all of people's attentions about bitcoin because ordinary people has no idea what bitcoin is and now people are thinking what is bitcoin and now the media is actually spreading the word about it. There are also many reasons why bitcoin is famous, I don't need to tell you one by one but you can search in your own on google and see why bitcoin has becoming famous more and more.  Wink

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June 30, 2017, 03:15:10 AM
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Greed which fueled new money into bitcoin.

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June 30, 2017, 03:19:12 AM
 #4

I believe bitcoin became famous because it is the first mover to decentralized blockchain.  There are other currency like bitcoin that uses blockchain tech before bitcoin was created but they are centralized.  With the tag decentralized blockchain and anonymous, people who do not want to be known during transaction were attracted and most of them are involved with illegal activities.  Aside from that people who were involved and got bitcoin at its early stage got wealthy and this is another reason why bitcoin  became famous.

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June 30, 2017, 03:46:59 AM
 #5

Can you give some reasons about this???
many reason for this question,and answer. in my opinion,bitcoin become famous because the price,that the first reason why bitcoin get famous,and the the fluctuate,bitcoin can reach 5 or more percent fluctuate,going up or down,its really interessting for some people,and then the technology who made bitcoin,so far nothing something like bitcoin that can be mined and sold in digital version.

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June 30, 2017, 03:57:51 AM
 #6

Can you give some reasons about this???

it is decentralized!
then when you look deeper, it is the safest thing you can hope for if you learn some pretty basic and simple stuff. it is fast, irreversible, keeps your privacy and it is cheap to use.

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June 30, 2017, 04:02:19 AM
 #7

Suddenly jumped out of a thing, which price is more than $ 1,000.

whether it is Bitcoin, or just a stone, people's eyes will focus here  --  what is it and why the price is so high?
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June 30, 2017, 04:08:09 AM
 #8

Bitcoin is the most famous cryptocurrency because it is the first, the original and so far no one has dethroned it in terms of importance, usage and value. All other coins (even Ethereum) are just considered to be alternative coins though they also have their own value as niche serving can be possible here.

Recently, Bitcoin became a very profitable investment tool so this is also becoming a major reason for Bitcoin popularity. All of want to make some money, of course.

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June 30, 2017, 04:11:39 AM
 #9

Can you give some reasons about this???

Bitcoin was firstly famous due to the fact that it is a decentralised currency which means it isn't controlled by a central bank. Secondly, bitcoin allows you to trade anonymously, so people have become interested in bitcoin. Since bitcoin has become widely accepted nowadays especially after the Japan incident bitcoin has been receiving a lot of media attention. Bitcoin has also become very profitable as an investment these couple of days. These should be the main reasons for bitcoin becoming so famous these couple of years.

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June 30, 2017, 04:14:02 AM
 #10


Because of it's utility and potential to change the system that has been so corrupt. People know it's a game changer that's why is being adopted by so many people.  That and the investment opportunity is amazing.

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vitaliikho
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June 30, 2017, 04:28:28 AM
 #11

The reasons of bitcoins popular
1.Decentralized in Nature
2.It's easy to set up
3.Anonymity
4.Transperancy
5.Transaction fees are miniscule
6.Fast
7.Broad applications
8.Hedge against risk
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June 30, 2017, 04:35:17 AM
 #12

Specially because the volatility, it's an awesome investment and relativly safe as until now things never gone wrong for investors. Who have bought Bitcoins don't complain about it, because their expectatives were surpassed, no one could predicted with sure the BTC price we see now some years ago, that is a real big and positive surprise.

The another aspect people like a lot is the pseudo anonymously while using Bitcoin to buy stuff online. Unfortunatelly, this aspect has more negative consequences that positive...

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June 30, 2017, 04:39:34 AM
 #13

I think bitcoin became famous because of the different  price spike from the market and also the news that are spreading in different part of the internet. One of the reasons also for this popularity is because of the countries that started to accept bitcoin like Japan and tomorrow is for the Australia (July 1) which is another opportunity for bitcoin to get more popularity.

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June 30, 2017, 04:50:53 AM
 #14

I believe the technology is what has made Bitcoin very famous not just the price. When Bitcoin will hit ten thousand US Dollars many will want to invest from normal places, not just investors and tech people.


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June 30, 2017, 04:53:23 AM
 #15

i believe at first meaning the year 2008-2009 it was purely the technology and how it was different, new and much better than the old system. you can read the white paper and see.

then after some years in 2010-2011 it was mostly the mining and the fact that you could run your PC (CPU and then GPU) to mine (earn) this valuable currency easily which was worth a lot too.

then 2011-... the real adoption and usage as currency also started. merchants started accepting bitcoin. it was no longer just a dark web silkroad currency (which i forgot which it was) and until today it has continued on this path and the mainstream adoption finally boomed by Japan.

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June 30, 2017, 04:57:50 AM
 #16

In the early days this has been popular because of the anonymity. Based on this it got used on several illegal transactions and the technology behind it is highly appreciated. Later on little by little several problems got arised but bitcoin overcame those and the value too started to increase making it an multiple usage value storage token. Now getting used in each and every places in the form of currency or technology or as some form of investment.

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June 30, 2017, 05:39:48 AM
 #17

Instead of predicting other's point of view, I would like to share why I found myself interested in bitcoin and the blockchain technology. I am a domain name reseller and I have clients from all around the world, until a few years ago, I was using PayPal as my payment mode to accept worldwide payment but they have serious restrictions in my country which make it complicated, time-consuming and costly to use it.

I came across Bitcoin technology as I was doing research for my business, I bought few domains regarding bitcoin and when I sold some of them, the buyer offered me payment in bitcoin. It was new for me and I decided to give it a try and noticed that it is incredibly cost friendly and quick. Since the last couple of years, I rarely logged in my PayPal account. I think the ease of use and benefits over traditional systems makes it more user-friendly and popular.

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June 30, 2017, 05:49:12 AM
 #18

I think this product could not go unnoticed. All the same we live in an era of digital technology. And tsyfrovy money is an excellent alternative to conventional currencies. Bitcoin occupied its niche. I think this popularity is justified.
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June 30, 2017, 06:12:40 AM
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Initially, I would have said ease of transaction and its decentralised nature. But I think all that does not matter to newbies anymore as the first thing that comes to the mind of newbies now is to tap into the value increase over time as a way to make more money and that is what is making bitcoin gain its popularity today. It is bad though knowing that the major and core value of the innovative technology behind bitcoin is being thrown aside as people now see bitcoin just as a means of investment. Also, I think the recent ransomware attack that went global kinda contributed little to it as people started finding information to know what bitcoin is all about as well as what they have been missing.
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June 30, 2017, 06:33:31 AM
 #20

For past few month more is greed for money and profit, but bitcoin concept is really something completely different. Many reasons are but most will say decentralized, anonymity, transperancy, adoption.... and much more.



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