talkbitcoin
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All I know is that I know nothing.
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December 21, 2017, 09:28:00 AM |
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the real question is which altcoin do you think is better than bitcoin!
because in order for bitcoin not to continue to be king, there should be an altcoin capable of competing with it.
so show me an altcoin that is processing more than 300,000 transactions per day and is still working fine.
an altcoin that has been under attacks of many types including but not limited to spam attacks against its network.
show me an altcoin that is doing all that and still is decentralized.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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yamortsac
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December 21, 2017, 09:50:58 AM |
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First of all, bitcoin is the first crypto currency and that still has the highest value among all the crypto currencies. Second, bitcoin is already trusted and proven that's many investors are continuously investing on it. And most of all, amongst all cryptocurrencies, bitcoin is the most popular and giving us high amount of profit. Maybe someday some other altcoins will not exist anymore but bitcoin will still continue to rise and that makes the bitcoin a king of crypto currencies.
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Scorpion
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December 21, 2017, 09:56:52 AM |
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What makes it the very best is the community that includes the development team, the miners, node runners, and people who utilized the Bitcoin blockchain everyday. This community is special and the great thing is it's growing bigger and stronger every single day.
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Harlot
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December 21, 2017, 10:01:12 AM |
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Despite all the problems you see Bitcoin is having Bitcoin is still king because it is Bitcoin. It is the pioneer of the cryptocurrency making it the most popular on that segment. Now becoming the most popular does not mean it is better than the others, it is popular because it is the most widely known and used cryptocurrency out there and right now I don't think that the new members of the cyrptocurrency world are looking for alternatives to Bitcoin as it is still growing and there are no signs that its growth will slow down both in terms of price and also its popularity.
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cryptomato
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December 21, 2017, 10:39:37 AM |
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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 The reason why it is still top because it is the most reliable one. Any altcoin can lose half value very quickly in a second but that would hardly happen to bitcoin. That literally means that btc is way safer than others. |
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SummonKing2
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December 21, 2017, 11:00:54 AM |
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Bitcoin is so close to making a new record and it could be because it’s taking market share from its smaller cousins. But it could also be that bitcoin is benefiting as investors are becoming wary of tokens sold in initial coin offerings
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harrypotter1229
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December 21, 2017, 11:07:07 AM |
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Bitcoin is the king of the market. Its status is generated by people's trust in its network. There are too many occasions to accept the bitcoin transaction, but the other altcoin is not necessarily accepted. Those problems do exist. I believe these problems will be improved in recent years. I think there will be several potential altcoin replacing some bitcoin market share in three years.
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lusiaga
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December 21, 2017, 02:15:27 PM |
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The natural nature of crypto money is who keeps the bitcoin, so indirectly it gives the impetus for this currency to continue termainstream. Some trades have received payment using bitcoin, call it china's Baidu, reddit, WordPress etc. Even an English millionaire, Richard Branson who is also a bitcoin investor. It recently announced that its virgin galactic company (space tour company) has received a space ticket purchase using bitcoin. With the wider use of bitcoin is certainly increasingly popular and more populist than other coin alternatives.
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illnino
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December 22, 2017, 12:46:51 PM |
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the real question is which altcoin do you think is better than bitcoin!
because in order for bitcoin not to continue to be king, there should be an altcoin capable of competing with it.
so show me an altcoin that is processing more than 300,000 transactions per day and is still working fine.
an altcoin that has been under attacks of many types including but not limited to spam attacks against its network.
show me an altcoin that is doing all that and still is decentralized.
Bitcoin is a idea, technology and the currency as a single phenomenon. It spread its influence so widely that no other currency could reach this level even approximately. That’s why it is the king in a row of cryptocurrencies. |
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Ekanenf
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December 23, 2017, 01:37:30 AM |
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Without btc alt coins would no longer exist, and all of tokens when converted to real currency undergo to btc. This makes btc become popular and continually increase its value. There's no doubt btc is the most strongest digital currency ever made by mankind:)
And altcoin would never going to exist in the first place if there is no bitcoin, to be honest. Altcoin is short term for Alternative coin, meaning it is not thst major compare to bitcoin. Bitcoin is a KING, you could tell it by just its price which dominates all of the coins prices. Bitcoin is the superior of all the Altcoins here in this cryptocurrency world. |
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bitgangsta
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December 23, 2017, 02:46:48 AM |
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I agree with the first poster. It's time for a new King!
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sunita01
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December 23, 2017, 02:51:41 AM |
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Since no coincidence of bitcoin has been able to overcome it, bitcoin prices are constantly growing in the market. Therefore, it will be accepted as a bitcoin king only.
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SunJAB
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WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
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December 23, 2017, 03:02:48 AM |
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Bitcoin is proving its real value, not just a virtual currency or financial balloon as the press is often referred to. The value of bitcoin is currently very stable and tends to increase due to the overwhelming interest of the market for it. Bitcoin will be the leader in the crypto market boom in the new year 2018. Take this opportunity to increase your wealth.
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Markzuckertion
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BITDEPOSITARY - Make ICO's , More Secure
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December 23, 2017, 03:14:20 AM |
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I agree with the first poster. It's time for a new King!
New king? There is no new king of cryptocurrency. People only thrust to bitcoin and a few altcoin. Bitcoin has the biggest market cap which may be it is impossible for another cryptocurrecy to surpass it. |
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Bausa
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December 23, 2017, 03:32:53 AM |
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That's true, the people only trust to Bitcoin. The creator ist right there are a lot of problems without solution, so Bitcoin will useless soon. Bitcoin Cash will then be the New King, the winner who takes it all.
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4U
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December 23, 2017, 07:26:56 PM |
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the real question is which altcoin do you think is better than bitcoin!
because in order for bitcoin not to continue to be king, there should be an altcoin capable of competing with it.
so show me an altcoin that is processing more than 300,000 transactions per day and is still working fine.
an altcoin that has been under attacks of many types including but not limited to spam attacks against its network.
show me an altcoin that is doing all that and still is decentralized.
Yes bitcoin is a king as we know that bitcoin is full of good qualities and just because of its good qualities bitcoin is now very strong with high price in market and not only countries but a lot of rich companies have accepted bitcoin and recently Indian bank also accept bitcoin also replaced other crypto from market and in some countries it reduced unemployment so these are the things which other crypto don’t have. |
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jonatuzc
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December 30, 2017, 06:41:53 AM |
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the real question is which altcoin do you think is better than bitcoin!
because in order for bitcoin not to continue to be king, there should be an altcoin capable of competing with it.
so show me an altcoin that is processing more than 300,000 transactions per day and is still working fine.
an altcoin that has been under attacks of many types including but not limited to spam attacks against its network.
show me an altcoin that is doing all that and still is decentralized.
Bitcoin is a idea, technology and the currency as a single phenomenon. It spread its influence so widely that no other currency could reach this level even approximately. That’s why it is the king in a row of cryptocurrencies. There is no doubt in this fact that bitcoin is so many things at a time and it is performing different tasks at the same time. Bitcoin is a currency and an investment as well. Majority of people are using bitcoin as a mode of investment rather than using it for paying their utility bills and other things. As far as the throne and reign of bitcoin is concerned, it is going to stay the king of digital kingdom forever. Bitcoin is the father of crypto currencies. |
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lzby2000
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December 30, 2017, 07:03:33 AM |
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Bitcoin is king in this market, that's because the role of bitcoin in the market is not replaced by other altcoin. Most of the money has entered the coin of bitcoin. Not only because of its price, but because there is no bitcoin, the entire encryption market will not exist.
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Nhor1011
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Daxetoken.net
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December 30, 2017, 07:07:56 AM |
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Bitcoin is the king in all crypto currency because it become famous in all coins with higher demand in the market. With out the bitcoin i think other altcoins and tokens will not exist. Every altcoins and tokens,you need to convert first into bitcoin before you can cash out.
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Boybugwal760820
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January 24, 2018, 02:14:42 AM |
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Yes... Bitcoin will always be the King and theres nothing will ever replaced Bitcoin as the King of Cryptocurrency... they may try to replace bitcoin but they can never succeed in doing it because each day bitcoins community is growing day by day attracting many users and investors alike to invest all they have in bitcoin, hoping that bitcoin will be able to give them a bright future.
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