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Author Topic: Why are so many devoted to Bitcoin vs other cryptos?  (Read 444 times)
Mandoy
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December 13, 2017, 01:40:16 PM
 #21

There are many people who in their right mind have devoted themselves to bitcoin compared to other cryptocurrencies. The reason for this is the history of bitcoin itself. If you check how its value inflated since 2009 you will finally know what is the answer for this. Unlike bitcoin other altcoins have no exchanger like bitcoins that can exchange the cryptocurrency into the local fiat currency. This is one of the advantage of bitcoin, and those fiat exchangers have been one of the biggest reason why people are so clingy to bitcoin.

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December 13, 2017, 01:49:23 PM
 #22

it is not bitcoin's fault it is that altcoins' fault.

in order to compete with something you do need to be better than that something. so far from what i see, altcoins are created with the sole purpose of gaining more money. developers premine their altcoins so that they can get rich from them. they run ICOs to get paid before doing anything, they pull lots of weird shit to make money easily for creating something small.

this trend creates lazy developers who are getting paid even if they don't create a proper thing. you can't expect much competition in this area.

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December 13, 2017, 06:10:56 PM
 #23

There are many people who in their right mind have devoted themselves to bitcoin compared to other cryptocurrencies. The reason for this is the history of bitcoin itself. If you check how its value inflated since 2009 you will finally know what is the answer for this. Unlike bitcoin other altcoins have no exchanger like bitcoins that can exchange the cryptocurrency into the local fiat currency. This is one of the advantage of bitcoin, and those fiat exchangers have been one of the biggest reason why people are so clingy to bitcoin.
Bitcoin in fact trusted currency as compare to other crypto currencies. Bitcoin is proving itself for a long long time. Bitcoin has already giving a very good profit to people and that is the reason that now people are putting more trust on bitcoin. People still expect to get more profit from investment in bitcoin. In fact still bitcoin has too much potential and its price will really continue to increase and that is the reason  that still people are too much devoted to bitcoin as compare to other cryptos. Although there are some altcoins which also have good potential and its price can also `increase in future but still it cannot compete with bitcoin.
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December 13, 2017, 11:50:02 PM
 #24

As you have said in your post,no other coin has handled such a huge volume o transactions and only when such coins handle such a huge transaction volume,then only we could say that it is better than bitcoin.

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December 13, 2017, 11:58:42 PM
Last edit: December 14, 2017, 12:12:55 AM by lighpulsar07
 #25

I think the reason why many people are devoted to bitcoin is more popular than other cryptocurrencies through the help of mainstream media and news sites as the first cryptocurrency we know users the bitcoin it is very secure way of payment and also, we all know that bitcoin price surged very fast and keeps on rising so, people saw this oppprtunity to earn more money by just holding and some are opening businesses for bitcoin.

 
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December 14, 2017, 12:11:06 AM
 #26

As you have said in your post,no other coin has handled such a huge volume o transactions and only when such coins handle such a huge transaction volume,then only we could say that it is better than bitcoin.

Also, just look at this site coinmarketcap.com, and you will clearly see why bitcoin is favored among all. The rising popularity and demand is unmatched when compared to other coins. Also, bitcoin may have some issues about its transaction fees lately but people have connected their faith in bitcoin and are assured about the profit they can get in bitcoin moves them from any altcoin to bitcoin.
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December 14, 2017, 12:12:33 AM
 #27

Because Bitcoin is the most decentralized cryptocurrency - it has the highest amount of nodes, which makes it resistant to different attacks (well, Ethereum might have similar or higher node count, but it has very-very centralized development and some security issues with its main features), and also Bitcoin is secured by the highest amount of PoW. Bitcoin is the best coin for high value transactions, but if you want to buy coffee than you indeed should use alts, at least until LN is deployed on mainnet. Alts are far less secure than Bitcoin, but it's okay if you deal with small amounts of value. I personally use Dogecoin when I transfer funds between exchanges, because its fees are much lower than fees of Litecoin or Bcash.

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December 14, 2017, 12:16:31 AM
 #28

Because bitcoin has more bigger coinmarketcap make people still believe more in bitcoin rather than other altcoin.
And bitcoin is the first and bigger cryptocurrency in the world so far. So why we should switching to altcoin if we still believe with bitcoin?

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December 14, 2017, 04:41:46 AM
 #29

People are devoted to bitcoin because they have trust and also the high value attach to it , it is the most popular cryptocurrency and perhaps as it is used in most places for online shopping


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December 14, 2017, 05:01:38 AM
 #30


It's no secret that BTC has a big problem with fees and transaction times and it's getting worse with rising valuation and number of users.  That's the first issue.  Bitcoin's closest market cap competitors don't have these issues....at least not yet.
Tell me some Bitcoin's closes market cap competitors that have an average 350k transaction per day for more than 1 month.

The second issue is that other cryptos have given better returns year-on-year vs. Bitcoin...especially in the past week to a month.  During that period BTC went up 100% but some of its closest competitors in market cap have returned 200-300%....or better.
If there's only one person that can predict what will happen in the future then he can profit more than 1000% of his/her investments in crypto, for me Bitcoin is the most reliable cryptocurrency out there.

To me, this is a no-brainer.  Even some merchants and vendors have dumped Bitcoin in favor of other cryptos.  Most know of the STEAM example.
The main reason for people to convert their Bitcoin to other Altcoins is they are expecting for some higher return over time, is it really 'steam' or 'steem'?

So why are so many on this forum not switching?  Most of you would be in a position to get in before the crypto ignorant (new investors) start piling in fresh cash.
Maybe because this is a bitcointalk.org and meant for Bitcoin related things and switching to some cryptocurrency is not bad but people will always tend to go back to Bitcoin. Again if there is only a chance to know what is happening in the future.

I really do not understand the logic since I don't believe for a second that it is an issue of brand loyalty...especially how little it is discussed as an option.

Thoughts?
Bitcoin is the father of all cryptocurrency and the pioneer of it so the root of all Altcoins out there was came from it, Bitcoin is the most valued coin right now because it deserve it to be. I knew that most people know already that supply and demand is the main reason for a thing to increase in price and that's what is happening to Bitcoin right now
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December 14, 2017, 05:23:43 AM
 #31

Bitcoin is the father of all cryptocurrencies and since from the beginnings is number 1 in marketcap. Is enought for some people to have trust in it, for others maybe is just too simple to understrand.
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December 14, 2017, 05:26:10 AM
 #32

Bitcoin, is consider nowadays the mother of all coins. People put their trust in bitcoin because they believe in the power and benefits of bitcoin. Most of the people are earning big than with other cryptocurrencies. I believe its the first token introduce in the market or if mistaken, bitcoin is the first token to be very popular in this past few years. Maybe some of the tokens have their own future or what so called potential to gain high value in the market but people always see bitcoin as their basis. And this year bitcoin reach unbelievable increase than no other cryptos never reach

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December 14, 2017, 06:04:31 AM
 #33

Because it's the most popular with the largest user base. For the most part, the cryptocurrency market still revolves around it. In the speculative world that is the cryptocurrency market, it's still the most stable, with the highest potential to make it for the long run. Most altcoin holders are also Bitcoin holders, but not necessarily vice versa. Its head start created tremendous momentum that's still being maintained today.

Altcoins have slowly been gaining ground in terms of market share though. You have stated very good reasons for an altcoin or two to switch the script on Bitcoin, and I certainly can't discount that possibility. If the confirmation times and fees problems aren't addressed in the near future, then Bitcoin is in real trouble.

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December 14, 2017, 06:21:10 AM
 #34


It's no secret that BTC has a big problem with fees and transaction times and it's getting worse with rising valuation and number of users.  That's the first issue.  Bitcoin's closest market cap competitors don't have these issues....at least not yet.

The second issue is that other cryptos have given better returns year-on-year vs. Bitcoin...especially in the past week to a month.  During that period BTC went up 100% but some of its closest competitors in market cap have returned 200-300%....or better.

To me, this is a no-brainer.  Even some merchants and vendors have dumped Bitcoin in favor of other cryptos.  Most know of the STEAM example.

So why are so many on this forum not switching?  Most of you would be in a position to get in before the crypto ignorant (new investors) start piling in fresh cash.

I really do not understand the logic since I don't believe for a second that it is an issue of brand loyalty...especially how little it is discussed as an option.

Thoughts?
I think many people devoted in bitcoin than other cryptos because first,bitcoin is legit and the value here in bitcoin is getting higher unlike the other cryptos.They are devoted or focused here in bitcoin because they'll know that here in bitcoin there are many ways to become successful in life or rich.The one thing also,bitcoin is a most popular cryptocurrency in the whole world so they choose to trust it.
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December 14, 2017, 06:27:31 AM
 #35


It's no secret that BTC has a big problem with fees and transaction times and it's getting worse with rising valuation and number of users.  That's the first issue.  Bitcoin's closest market cap competitors don't have these issues....at least not yet.

The second issue is that other cryptos have given better returns year-on-year vs. Bitcoin...especially in the past week to a month.  During that period BTC went up 100% but some of its closest competitors in market cap have returned 200-300%....or better.

To me, this is a no-brainer.  Even some merchants and vendors have dumped Bitcoin in favor of other cryptos.  Most know of the STEAM example.

So why are so many on this forum not switching?  Most of you would be in a position to get in before the crypto ignorant (new investors) start piling in fresh cash.

I really do not understand the logic since I don't believe for a second that it is an issue of brand loyalty...especially how little it is discussed as an option.

Thoughts?

Because bitcoins are unique. Because it is decentralized and can not control any person in the world. So even if the price of bitcoins falls, people are confident that it will raise prices again. Unlike altcoins that control the price and can afford to manipulate them. So even though I choose the bitcoins because it's true and nothing goes wrong with bitcoins.

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Bonakid
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December 14, 2017, 06:43:13 AM
 #36


It's no secret that BTC has a big problem with fees and transaction times and it's getting worse with rising valuation and number of users.  That's the first issue.  Bitcoin's closest market cap competitors don't have these issues....at least not yet.

The second issue is that other cryptos have given better returns year-on-year vs. Bitcoin...especially in the past week to a month.  During that period BTC went up 100% but some of its closest competitors in market cap have returned 200-300%....or better.

To me, this is a no-brainer.  Even some merchants and vendors have dumped Bitcoin in favor of other cryptos.  Most know of the STEAM example.

So why are so many on this forum not switching?  Most of you would be in a position to get in before the crypto ignorant (new investors) start piling in fresh cash.

I really do not understand the logic since I don't believe for a second that it is an issue of brand loyalty...especially how little it is discussed as an option.

Thoughts?
It is the only cryptocurrency that very unique compare than other cryptocurrency.Bitcoin is more popular and its price is more stable than others.We can say this is legit and not scam because many of us can prove that bitcoin is true that we can earn a lot here.
TheGodFather
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December 14, 2017, 06:44:33 AM
 #37


It's no secret that BTC has a big problem with fees and transaction times and it's getting worse with rising valuation and number of users.  That's the first issue.  Bitcoin's closest market cap competitors don't have these issues....at least not yet.

The second issue is that other cryptos have given better returns year-on-year vs. Bitcoin...especially in the past week to a month.  During that period BTC went up 100% but some of its closest competitors in market cap have returned 200-300%....or better.

To me, this is a no-brainer.  Even some merchants and vendors have dumped Bitcoin in favor of other cryptos.  Most know of the STEAM example.

So why are so many on this forum not switching?  Most of you would be in a position to get in before the crypto ignorant (new investors) start piling in fresh cash.

I really do not understand the logic since I don't believe for a second that it is an issue of brand loyalty...especially how little it is discussed as an option.

Thoughts?

NItcoin is the most well used and known of all the other cryptocurrencies bcause it is easy to used and t has he highest value among all of them. However I still think that others moght catch up but for now truly the darling of the crowd is bitcoin

i want to back, i dont know how
KwizatzHaderach
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December 14, 2017, 06:46:33 AM
 #38

New entrants to the crypto world just only know about Bitcoin and not the other altcoins.
Many hours should be done researching on these coins and an average working people probably does not have it.
Thus more newbies are just staying with Bitcoin hoping it will go up in value.

Lykslyks
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December 14, 2017, 06:57:31 AM
 #39


It's no secret that BTC has a big problem with fees and transaction times and it's getting worse with rising valuation and number of users.  That's the first issue.  Bitcoin's closest market cap competitors don't have these issues....at least not yet.

The second issue is that other cryptos have given better returns year-on-year vs. Bitcoin...especially in the past week to a month.  During that period BTC went up 100% but some of its closest competitors in market cap have returned 200-300%....or better.

To me, this is a no-brainer.  Even some merchants and vendors have dumped Bitcoin in favor of other cryptos.  Most know of the STEAM example.

So why are so many on this forum not switching?  Most of you would be in a position to get in before the crypto ignorant (new investors) start piling in fresh cash.

I really do not understand the logic since I don't believe for a second that it is an issue of brand loyalty...especially how little it is discussed as an option.

Thoughts?


It's simple, they are a bunch of simpletons that follow hype, nothing more.
Logic and reasoning are not a part of their skill set.

╥Aztek



I disagree! Not everyone follows what's in, as you can see bitcoin is at it's success maybe that's the reason why. Why people would put their money to something that is not profitable? There are bounties that offers other cryptocurrency in this forum and it will take time before they could change it in their countries currency because the value of those are continuously falling.
Malamok101
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December 14, 2017, 07:45:05 AM
 #40

because they also need to create their own Crypto currency for profit because business is business but I think they just make another coin to make money for people and also need some other coin to get trading on bitcoin because I just bitcoin Our single coin may have no trading sites like bittrex and poloniex.

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