So Bitcoin is King.. why is it?!

[Jimbo Abu]

Bitcoin is the totally first of all cryptocurrency in blockchain, I think this one proves it is the king of all crypto. And Bitcoin has more advantages than other coin like in transaction, Bitcoin is fast and reliable. And this can be our future currency.

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[lehamay]

Bitcoin is king around here in the cryptocurrency because it has the highest value in terms of pricing among the other alternative coins. Many people called bitcoin as mother of all currency because without bitcoin there would no currency at all.

[Spain2000]

Due to its virtual nature and the regular usage of bitcoin for online transactions we can say that it is the king of digital world and for the E-Business and E Commerce this is a good achievement and when the digital money have started people were rapidly attracting to this side and for us bitcoin and other crypto can do more than any other form of money so i accept that it is the King.

[Shifa788]

Bitcoin is king. Bitcoin is the digital crypto currency. World most popular site is bitcoin.Bitcoin price are so expensive. People come here and invest for a good amount. Day by day bitcoin user are increased. So Bitcoin is king.

[Tagabukid69]

Bitcoin is the king of digital currency because they manifest the most expensive value in crypto. Since it is the first crypto coin exist, It becames globally popular and yearly it brings historical milestone in crypto market. It is also very helpful because it gives extra sideline to those who are interested:)

[ajoygb]

Bitcoin is over all,  that it all start with bitcoin and another is coming to try to compete but above all bitcoin is the best. Bitcoin will always be king - it was the first major crypto and the popularity of the coin so I believe that it will always be a  king. They call it the gold of the internet for it is proving that it's existence starts all..

[zhanyiguai261315]

Because BTC is the first application of block chain technology!

Many digital cryptographic currencies are designed to mimic BTC!

BTC has been continuously updated and maintained its leading position in 9 years!

[israfil]

I think bitcoin is also called a king, because it is now thought that crypto can be the world's highest point. It is used everywhere from the international market because the Bitcoin is used, and its future is expected to increase further. Many people are benefiting from using Bitcoin. Therefore, Bitcoin is called the King.

[jademacoy]

Well of course bitcoin has the edge to all cryptocurrency and even ether is only an altcoin to bitcoin. So the basis for all crypto is bitcoin and when bitcoin market price drop so does its altcoin. There is no wonder it is called the bitcoin king. However, some altcoins now are having some good establishing records on the investors around the world. Those are the leading crypto just like ethereum. And I guess if it happens ethereum could also achieve what bitcoin has achieve today. I do not know it is hard to predict in cryptocurrency. I will just have to believe on fortunate events that could possibly happen. As of now I am investing in ether but I guess I will convert it to bitcoin.

[Periodik]

Bitcoin is king on very solid grounds. It is the beginning of the whole wide world of cryptocurrency. If cryptocurrency will soon replace fiat, that would be a very amazing thing to happen. And to a very significant extent, it happens because of Bitcoin. Of course, as new technologies develop and progress more and more, new versions are born. However, tracing their roots will always lead to the one and only Bitcoin.

[NEERAJ ANAND]

It is a king because it gives us the returns which cannot be matched by any altcoin or any other instrument. It is a leader from launch of this crypto world and will be a leader in future also.

[chillitabit]

I understand for the past years, Bitcoin has been the king of cryptos, but why is that so? I have been for several months now reading a lot about the whole crypto ecosystem, i even bought several bitcoins back in August (sold them all today, for 4x returns and am keeping all the money in the broker account, and maybe i'll buy BTC again just as soon as i manage to retrieve my belief in BTCs future viability -i am trying really hard).

Enough background, now on to the topic at hand. I am now all too familiar with the challenges BTC has in front of it, and i sincerely can't see a solution.

1. Slow transactions - If you pay a high enough fee (at the moment over $15), you'll get a 10 minutes confirmation for your transaction. So at the very least it takes 10 minutes for a transaction to pass through, which really isn't so much assuming one is willing to pay the high fee. If one doesn't want to pay over $1 (i mean why should we, since the original idea of cryptos was that they should be cheap, fast and anonymous!), then one will wait indefinitely, probably for days or even damn weeks!!!

2. High fees - Now over $15 for high priority on the blockchain. Imagine if the price were to multiply by 5x. The fees!! $100+ per transaction maybe? This is insane. Satoshi Nakamoto has/have probably unfortunately died (i mean he/they WOULD by now have come forward and said enough is enough, miner cartels are ruining the BTC system and these high fees are outrageous insanity) turning in his grave with the hell that is happening to the BTC's ecosystem.

3. Lack of solutions - The major solution everyone is currently clinging to is the Lightning Network. Really?? It is still theoretical. Will it ever be effectively implemented and integrated into BTC and its blockchain? We don't know. Will it be practical, and effectively reduce costs substantially? We don't know! When will it be ready? Sometime in 2018? With a measly small team of developers? 2018 maybe! If it ever becomes pratical. Right now it seems the WHOLE BTC ecosystem hopes that the LN will work and solve ALL of BTCs complex problems. This is a very big and risky assumption. If it doesn't, i sincerely don't see how the BTC is going to navigate ever higher demand and users. It will bottleneck even more and the result will not be pretty. Besides, the whole concept of creating off-chain direct channels between users doesn't seem very practical to me, but perhaps i am wrong.

4. Miner cartels? Have major miner groups taken over the BTC? I haven't studied it deeply enough to make this conclusion, but this is the feeling i am fetting, maybe i am very wrong. Why isn't a solution to this DAMN OBVIOUS BOTTLENECK PROBLEM being chased with the urgency that i think the BTC community should have? Maybe i am missing something, or many things, i am by no means an advanced and very knowledgeable member of the community. But is the theory that major miner groups hijacking the BTC ecosystem in order to keep their high fees absurd? Maybe it is, but at my current understanding it seems like a possibility.

5. Bitcoin considered solely as a store of value. Right now, the only use of BTC is functioning as a store of value. Let other cryptos serve the more mundane task of serving as cash! BTC is digital GOLD! So the argument goes. Is this enough for the BTC? This isn't what i thought BTC was supposed to be. It SHOULD serve as a srote of value as well as a means for making fast and costless daily transactions. You see i am not against a system that serves solely as a store of value but i WONDER if it will be enough, will BTC present enough utility for people once they realize they can't use it for small transactions, but instead they should see BTC solely as something akin to a long term investment, that isn't useful for small transactions? The way i see it the more utility a crypto currency presents to its users, the ore value it will have, and right now there are a dozen CRYPTOS will a lot more utility than the Bitcoin.

So i ask again what makes Bitcoin the King? Network effect? The fact that it has been time-tested longer than any other crypto? A supposed community that supports it (what support they give eludes me too, i don't see much support actually)? Right now i see the BTC as a bloated, outdated and overvalued ecosystem that may survive and continue to thrive just because it has the first mover advantage and biggest network, but i am not sure of it and would really appreciate if it actually kept the edge in it's design and technology too over other cryptos. Right now i don't see it at all.

just suppose that new technologies and blockchain implementations are coming every day, but it doesn't mean that the old ones need to be replaced. Imagine the same thing happening with dollar notes, that every time better quality of paper would be implemented, all notes would get changed. It makes sense to study the new tech and slowly implement it to bitcoin core if the community agrees. Changing currencies every week wouldn't help anyone, it's important to have that is widely used and some others for certain specific implementations

[SMD.Shuvo]

That bitcoin really seems to me a king. It's all the coins of the king. This precious Bitcoin changed my life. I used to have a lot of trouble at one time. My family used to suffer a lot. Now I have been able to earn a lot of money by doing this bitcoin. It laughs at the face of my parents. That's why I have become king all my life.

[onnz423]

The sad fact is Bitcoin is king because it was first. Yes, it has the most users and easily the highest market cap and trade volume, but these are due to the fact it was first, rather than because it's the best.

I do believe Bitcoin has a bright future, and it will probably stay number 1 for a long time, but it's hard to ignore the competitors hot on its heels, like EOS and NEO with strong smart-contract potential.

[achsan fauzy]

I understand for the past years, Bitcoin has been the king of cryptos, but why is that so? I have been for several months now reading a lot about the whole crypto ecosystem, i even bought several bitcoins back in August (sold them all today, for 4x returns and am keeping all the money in the broker account, and maybe i'll buy BTC again just as soon as i manage to retrieve my belief in BTCs future viability -i am trying really hard).

Enough background, now on to the topic at hand. I am now all too familiar with the challenges BTC has in front of it, and i sincerely can't see a solution.

1. Slow transactions - If you pay a high enough fee (at the moment over $15), you'll get a 10 minutes confirmation for your transaction. So at the very least it takes 10 minutes for a transaction to pass through, which really isn't so much assuming one is willing to pay the high fee. If one doesn't want to pay over $1 (i mean why should we, since the original idea of cryptos was that they should be cheap, fast and anonymous!), then one will wait indefinitely, probably for days or even damn weeks!!!

2. High fees - Now over $15 for high priority on the blockchain. Imagine if the price were to multiply by 5x. The fees!! $100+ per transaction maybe? This is insane. Satoshi Nakamoto has/have probably unfortunately died (i mean he/they WOULD by now have come forward and said enough is enough, miner cartels are ruining the BTC system and these high fees are outrageous insanity) turning in his grave with the hell that is happening to the BTC's ecosystem.

3. Lack of solutions - The major solution everyone is currently clinging to is the Lightning Network. Really?? It is still theoretical. Will it ever be effectively implemented and integrated into BTC and its blockchain? We don't know. Will it be practical, and effectively reduce costs substantially? We don't know! When will it be ready? Sometime in 2018? With a measly small team of developers? 2018 maybe! If it ever becomes pratical. Right now it seems the WHOLE BTC ecosystem hopes that the LN will work and solve ALL of BTCs complex problems. This is a very big and risky assumption. If it doesn't, i sincerely don't see how the BTC is going to navigate ever higher demand and users. It will bottleneck even more and the result will not be pretty. Besides, the whole concept of creating off-chain direct channels between users doesn't seem very practical to me, but perhaps i am wrong.

4. Miner cartels? Have major miner groups taken over the BTC? I haven't studied it deeply enough to make this conclusion, but this is the feeling i am fetting, maybe i am very wrong. Why isn't a solution to this DAMN OBVIOUS BOTTLENECK PROBLEM being chased with the urgency that i think the BTC community should have? Maybe i am missing something, or many things, i am by no means an advanced and very knowledgeable member of the community. But is the theory that major miner groups hijacking the BTC ecosystem in order to keep their high fees absurd? Maybe it is, but at my current understanding it seems like a possibility.

5. Bitcoin considered solely as a store of value. Right now, the only use of BTC is functioning as a store of value. Let other cryptos serve the more mundane task of serving as cash! BTC is digital GOLD! So the argument goes. Is this enough for the BTC? This isn't what i thought BTC was supposed to be. It SHOULD serve as a srote of value as well as a means for making fast and costless daily transactions. You see i am not against a system that serves solely as a store of value but i WONDER if it will be enough, will BTC present enough utility for people once they realize they can't use it for small transactions, but instead they should see BTC solely as something akin to a long term investment, that isn't useful for small transactions? The way i see it the more utility a crypto currency presents to its users, the ore value it will have, and right now there are a dozen CRYPTOS will a lot more utility than the Bitcoin.

So i ask again what makes Bitcoin the King? Network effect? The fact that it has been time-tested longer than any other crypto? A supposed community that supports it (what support they give eludes me too, i don't see much support actually)? Right now i see the BTC as a bloated, outdated and overvalued ecosystem that may survive and continue to thrive just because it has the first mover advantage and biggest network, but i am not sure of it and would really appreciate if it actually kept the edge in it's design and technology too over other cryptos. Right now i don't see it at all.

Bitcoin is currently at the top of the cryptocurrency list because of how high its value right now. Cryptocurrencies all around the world is comparably pale to what bitcoin has to offer in terms of popularity and its financial value to the people using it

bitcoin become the king in the market of crypto and the blockchain system not because of the price of bitcoin expensive. but I think this is because bitcoin has the most stable price compared altcoin.

[AquaVitae]

It was the first one, is most well known crypto, has the longest blockchain, has proven to be resilient against hackers.

[baundul]

Bitcoin is the first block chain user and first coins. Go back Bitcoin has been reigning in the market for the last few years.

1. Slow transactions, 2. High fees

It is transaction slow but the most secure. At present, fees have been reduced.

So i ask again what makes Bitcoin the King

My opinion is Bitcoin King. The King was in the past. There are currently and will be in the future. Because there is no other coin equivalent to Bitcoin that can be rival. Bitcoin is the most decent currency. It is impossible to move forward without coins without decentralisation.

[cryptotnak]

Because bitcoin is the first cryptocurrencies has ever launched,due to its success most of the people has created their own cryptocurrencies.As the foundation of all the cryptocurrencies bitcoin's job i to give us more decentralized curreny which shouldnt be controlled by anyone and to give us purely anonimity when we are transacting online.

[Udrujec]

Yes, bitcoin at this stage of its development has quite a few drawbacks, but it is permissible for him, he is still very young. Over time, I am sure that these shortcomings are being addressed.

[Welhell]

In my opinion the greatest reason for Bitcoin's price that it the first cryptocurrency in crypto world. If bitcoin didn't establish, may be there not were be cryptocurrency word.