Bitcoin rises still, but why?

[nidacoinlove]

I have been wondering for a long time why Bitcoin is still rising in value. Ethereum has a better blockchain, but can't follow the pace of Bitcoin.

Bitcoin is also polluting the environment with the PoW algorithm using too much energy for mining. So there is many arguments NOT to use Bitcoin, but why do we still do it?

If you want to trade altcoins on exchanges you almost always trade against Bitcoin instead of USD (or USD Teather). So you NEED to have Bitcoin. I know that more exchanges allow trading against Ethereum and others, but still the most popular marked is BTC/XXX (where xxx is any given coin).

For me it is clear that this has to change to stop the rise in Bitcoin. I think most of us is tired of the long confirmation time in the Bitcoin block chain that can take up to an hour or more.  It's embarrassing for any crypto to have such a long validation time.

I therefore hope that exchanges will adapt USD as the standard measure and stop having Bitcoin/Altcoin pairs.... it will probably not happen. I'm just saying what I would like to see.

I think exactly that is keeping the Bitcoin price high.

Comments?

Also posted here: http://rimbit.dk/showthread.php?tid=656

Any alt with advanced technology blockchain doesn't mean that it will be better than the bitcoin. Primarily bitcoin introduced the blockchain technology with a very much limited number which turned into a store of value. We have a lot more alts but they are issued on a large scale which makes them cheaper.
Bitcoin being a store of value is used on the exchanges against trading alts. USD will be harder for cryptonians with the issues of taxation while USDT can't be trusted with it's security issues. There are exchanges like Gdax, that accepts USD for trading.
People who have problem with bitcoin are free to use other mediumand options, bitcoin is not bounding anyone to use it.
People who adopt bitcoin and crypto are basically tired of traditional system, fiat and happy with bitcoin.

[bitfocus]

Bitcoin is some asset that has limited production and a limit of total quantity, Bitcoin is decentralized, also a Crypto - from all means Bitcoin is very popular and an instrument of Investment that promises a high return. So, Bitcoin is rising.

[SouthMining]

The price of bitcoin is essentially the result of Supply & Demand. Not more, not less.

PoS / PoW changes nothing. Why should ppl mine in PoS Coins? So the coins get centralized  I don't want PoS.

I would rather like to see the mining power getting used for something of use instead of just randomly solving hashes. Could be that some future coin will address this and all those mining hardware is actually brought to a real world use too.

PoS is basically not a good idea because of it's nature.

[SamReomo]

Bitcoin is the king of the crypto-world and it has right to be on the top. Bitcoin is known to more people than other altcoins. It is the starter of the game and that's a great advantage for it to rise. Bitcoin is accepted in many countries and people love to trade with it.
Bitcoin is better in many ways, the community of Bitcoin is much  larger than the ETH, and all of them believe in it. It is secure and is accepted as a form of payment to many sites and that's why its demand is higher than other altcons. Many businesses use Bitcoin as their main payment processor. Some people, despite being unemployed, are making good profits using Bitcoin as their way of living.
Other altcoins will never be able to replace Bitcoin any soon because its community is huge and yes there are so many people who are mining Bitcoin rather than other altcoins. They mine it because they know its value.

[spyshagg]

 I think there isn't a crypto-currency yet that can handle the traffic Bitcoin has.

What kind of traffic? Ethereum has been handling ~twice the transactions of bitcoin for weeks now. Maybe you meant dollar volume?

[Cryptokingind]

Bitcoin regularly growing till now, I think bitcoin demand is increase day by day and bitcoin community also growing so that bitcoin rises still.  

[Denisliternyjj]

now will grow other currencies

[amila_cs]

Think Bitcoin like gold but with 1000 times better. It does not do anything special bu it's value is going up every day. So bitcoin is perfect thing to convert your wealth. Also since bitcoin is the first coin and it began changing the world, it's value is going up daily.

[congtuan001122asd]

bitcioin is spreading, it is getting attention in the media, more and more people know and use bitcoin. The demand for human about bitcoin is increasing rapidly, so the price of bitcoin has also increased steadily.

[aestrum]

It's adoption is still at very early ages, there is a lots of room to grow. It has potential to be used among other financial tools: every household that has RRSPs, 401s, stocks, saving accounts, etc, will eventually have some amount transferred to bitcoins.

[lucifochrome]

Bitcoin is on a rise and will continue to rise simply because it keeps on getting support from people. More and more businesses and entrepreneurs accepts bitcoin as payment now than before, and bitcoin is getting more globally known so price will continue to pump. Yeah Eth have a better blockchain but without that much support from the community it will not rise to bitcoin's level but that could be a good thing as we can invest now and sell in the future.

[Zicadis]

I have been wondering for a long time why Bitcoin is still rising in value. Ethereum has a better blockchain, but can't follow the pace of Bitcoin.

Ethereum would be a better alternative but people(investors) like to see results and investing in bitcoin gets you results.

Bitcoin is also polluting the environment with the PoW algorithm using too much energy for mining. So there is many arguments NOT to use Bitcoin, but why do we still do it?

This is something unfortunate to learn because AFAIK clean renewable energy(hydroelectricity) is whats used by big mining companies.

If you want to trade altcoins on exchanges you almost always trade against Bitcoin instead of USD (or USD Teather). So you NEED to have Bitcoin. I know that more exchanges allow trading against Ethereum and others, but still the most popular marked is BTC/XXX (where xxx is any given coin).

Its the father of all cryptos and its just fair that other altcoins are pegged to another crypto and not fiat.

For me it is clear that this has to change to stop the rise in Bitcoin. I think most of us is tired of the long confirmation time in the Bitcoin block chain that can take up to an hour or more.  It's embarrassing for any crypto to have such a long validation time.

Its a small price to pay but in the long term a fix is needed to get mainstream adoption.

[heureca]

I have been wondering for a long time why Bitcoin is still rising in value. Ethereum has a better blockchain, but can't follow the pace of Bitcoin.

Bitcoin is also polluting the environment with the PoW algorithm using too much energy for mining. So there is many arguments NOT to use Bitcoin, but why do we still do it?

If you want to trade altcoins on exchanges you almost always trade against Bitcoin instead of USD (or USD Teather). So you NEED to have Bitcoin. I know that more exchanges allow trading against Ethereum and others, but still the most popular marked is BTC/XXX (where xxx is any given coin).

For me it is clear that this has to change to stop the rise in Bitcoin. I think most of us is tired of the long confirmation time in the Bitcoin block chain that can take up to an hour or more.  It's embarrassing for any crypto to have such a long validation time.

I therefore hope that exchanges will adapt USD as the standard measure and stop having Bitcoin/Altcoin pairs.... it will probably not happen. I'm just saying what I would like to see.

I think exactly that is keeping the Bitcoin price high.

Comments?

Also posted here: http://rimbit.dk/showthread.php?tid=656

Currently BTC is like a gold in criptocurrency world. It is most famous criptocurrency and a lot of people buy BTC increasing its capitalization and price.

[snipetr]

As people's all over the world realise the income benefits behind bitcoin, Due to that demand of bitcoin increases drastically. Thats why price increased like a blast. Betcoin is basically decentralised, operated on internet on any mobile or pc from anywhere in world, so easy to work on it, all these attract people. People invest in bitcoin for better returns. Thats increses price drastically.

[cbreum]

I have been wondering for a long time why Bitcoin is still rising in value. Ethereum has a better blockchain, but can't follow the pace of Bitcoin.

well, that is just your opinion.
in fact ethereum has so many different issues that are even worse than bitcoin's simple issues. i think you are speaking more emotionally than based on facts.

If you want to trade altcoins on exchanges you almost always trade against Bitcoin instead of USD (or USD Teather). So you NEED to have Bitcoin. I know that more exchanges allow trading against Ethereum and others, but still the most popular marked is BTC/XXX (where xxx is any given coin).

it is not by force, it is by choice.

people see bitcoin as their main investment and the only long term investment that they believe in. so if someone has 1BTC he wants to do something to increase that 1BTC the best way they can. what better to trade and make profit on it. that is why people choose to trade altcoins versus bitcoin when so many markets are availbable such as alt versus: LTC, DOGE, FTC, ETH, USD, USDT,...

For me it is clear that this has to change to stop the rise in Bitcoin. I think most of us is tired of the long confirmation time in the Bitcoin block chain that can take up to an hour or more.  It's embarrassing for any crypto to have such a long validation time.

the timing on this could not be any more perfect

Why is ethereum so slow?
Ethereum transaction pending for an hour
Eth transactions conjested
will my transaction be pending forever
[ETH] transaction pending forever

and lots and lots more stuck transactions and gas price through the roof just because someone is using Ethereum blockchain the way it is supposed to be used...

For me Ethereum transaction are fast as lightning. Within less than a minute you have multiple confirmations. Maybe it's not perfect but much faster than Bitcoins if you look for the majority of transactions.

[cbreum]

Thanks to all who replied.

Much appreciated.

[adzino]

Even though ethereum has a better blockchain, people who are new and investing on crypto currencies for the first time do not know that. The news about crypto currencies are filled with bitcoin. So it is quite obvious that new investors tends to invest on bitcoin rather than choosing any other crypto currency, which causes rise in demand along with price.

[Ibrahim60]

Bitcoin price is still rising and it's continuous because now so many people know the benefit of bitcoin. So many people believe on it. So many people use bitcoin. Finally the main reason of rising bitcoin price is the production rate is lower than the demnad.

[Jonsnowstark]

I have been wondering for a long time why Bitcoin is still rising in value. Ethereum has a better blockchain, but can't follow the pace of Bitcoin.

Bitcoin is also polluting the environment with the PoW algorithm using too much energy for mining. So there is many arguments NOT to use Bitcoin, but why do we still do it?

If you want to trade altcoins on exchanges you almost always trade against Bitcoin instead of USD (or USD Teather). So you NEED to have Bitcoin. I know that more exchanges allow trading against Ethereum and others, but still the most popular marked is BTC/XXX (where xxx is any given coin).

For me it is clear that this has to change to stop the rise in Bitcoin. I think most of us is tired of the long confirmation time in the Bitcoin block chain that can take up to an hour or more.  It's embarrassing for any crypto to have such a long validation time.

I therefore hope that exchanges will adapt USD as the standard measure and stop having Bitcoin/Altcoin pairs.... it will probably not happen. I'm just saying what I would like to see.

I think exactly that is keeping the Bitcoin price high.

Comments?

Also posted here: http://rimbit.dk/showthread.php?tid=656

We can't blame bitcoin for its continuous rise. As you can see, a lot more people want to use it. That in turn coontributes to its price increase. Yes ethereum is a more stable coin. It has more use but the price up of eth is not as much as bitcoin. We cannot compare btc with other coins because btc is the father of crypto. Btc is started as a revolution against centralized currencies or ffiat so all the more we can't use usd for exchanges.

[barabut]

Bitcoin nears 12kUSD levels, sets another record high, it began trading from 5.5kusd on november,12. in two weeks we saw above 11kusd levels, on november 29. Do you look any reason behind this, come on!