So Bitcoin is King.. why is it?!

[green_fish]

Because BTC is the first block chain to apply cryptocurrency, it drives a new block chain technology!

There is no such thing as technological innovation that is completely over bitcoin.

So BTC has always been the king of cryptography!

[KingScorpio]

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.

under legal rights of all states its actually not allowed to name and brand bitcoin in public television, bitcoin developers have sold a pseudodecentral cryptocurrency its dropping now because its beeing invested into icos, and those icos then sell it cheaper and cheaper it actually unavoidable that ripple collapses.

[Casey7]

Hello everybody! I'm not so versed in saying the various subtleties of the crypto-currency market, but I'm ready to assert that Bitcoin is the king of all the assets of the crypto currency market, because, with all the falls and take-offs of the BTC price, interest in this asset remains stable. New investors are steadily joining the ranks of Bitcoin fans, I'm sure that such a cosmic price increase, in recent years, is just the beginning. With all the shortcomings, Bitcoin and now takes the main place on all crypto currency exchanges. Let the programmers argue about the digital merits and demerits, - I'm a simple investor, - Bitcoin occupies the main place in my list of investments. And I, actively communicating with my friends, strongly advise investing in Bitcoin. Maybe I'm wrong, but the simplest proof of Bitcoin's dominance over all digital assets is his price.

King? Yes may be people think bitcoin is the king because it is the most powerful coin so far and no other can defeat its power.
Power proof of bitcoin is when bitcoin down and the others coin just following. Up and up together. The cap of bitcoin also on the top. So that is the simple reason why.

[megamanexe002]

I think bitcoin is also called a  king because it is now the most highest coin in crypto world maybe people know about it already that is why many people today wanted to have more bitcoin for the near future because they believe  that bitcoin has really a great big capacity to continue rising in the near future.Bitcoin is really amazing than any other coin.

yes i agree because bitcoin is the highest in the whole currency,many people subscribe and love bitcoin because they can earn a lot of money and has a big opportunity especially to those jobless people makes their life more better than before.

[Brookie]

Because maybe bitcoin is the first crypto currency known to people. So why is bitcoin called king. But there may be coins that can compete with bitcoin in the future.

[hrz]

bitcoin deserves to be called the title of king, the price is high and hard to get it and the bitcoin is the first time in crypto so the other altcoin may not compete with bitcoin.

[jputra635]

We can say that the king is bitcoin, because. Remember when bcn was forked from monero , the price of monero has go to the moon , so i think if there is a hard fork of btc , also btc will go to the moon also the same thing has happen to eth when etc was forked from eth , we have see an increase in the price of the ethereum , so the hardfork and segwit are positive things for the future of bitcoin!

Yes, bitcoin is still the king of crypto.It is the most popular and most interesting.Its marketcap is still the highest. Btc price move is dominant factor influencing price move of other coins.

[O9NpJ9ld1opS]

Bitcoin was the first cryptocurrency to be introduced. The first comer always dominates. That is a general rule. But the flippening may or may not happen in the future. But I believe that bitcoin will still be one among the top.
If the flippening ever happiness strongly believes that Ethereum will be the one replacing BTC.

[wanimulyo]

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.

I think many adavantages of the bitcoin. The bitcoin was the first cryptocurrency using the blockchain. It s the father of all crypto, altcoin included.So, The bitcoin is King of crypto.

[hasbihafis]

A very interesting comparison. If Bitcoin is the king of etherium, then the ripple is their son. Now really. The two best coins on the market are Bitcoin and Etherium. For the third place is a serious battle. But I think the pulse in the coming years will fall into the Top 3 coins in the world.

[cyriljundos]

Bitcoin is primarily called king in crptocurrency because it is the high value in all crypto world

[hrz]

of the price of bitcoin is superior to other alcoin then it is worth bitcoin is said KING.

[mkcube]

Because of the price is superior to ither coins. Then it is worth than a king. Bitcoin has a high value in crypto world. It is the father if all cryptocurrency in the blockchain so the bitcoin is the king of all.

[cryptokia]

I think two of the most obvious reasons are popularity, and price. Then I would say, that everything begins from it, evebody knows it.

[Hotel_Prodeo]

The thing that makes bitcoin forever be king and difficult for any coin is the volume of transaction bitcoin is currently very large and bitcoin marketcap reaches more than 37%, all trading cryptocurrency always use bitcoin so it takes a long time to make another coin replace bitcoin.

[NerdofBTC]

Bitcoin is on the top of currency which make it the king and the attitude of people towards bitcoin is positive which increase its demand and prices and as we know that bitcoin give a handsome profit to its investors.

[alon_alon]

It's true that Bitcoin is King. King of all the coins. Bitcoin is said to be the king of coins because Bitcoin's price could be the highest price and the most valuable investment asset. Bitcoin has been highly trusted by its users and is no doubt for future investment assets.

[faithofb]

Its the pioneer, most used, most accepted and will remain so for long...

[Limar0]

Because of bitcoin,cryptocurrency exist.Without bitcoin as the king, no ethereum also as queen of crypto and then no altcoins at all.That's how influential bitcoin is.So we better support or promote bitcoin for it to exist forever and remain as king of cryptocurrency.

[KingOfWinterfell01]

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.

I think because it has been the pioneering cryptocurrency and is now leading the market as the most expensive crypto to date. A lot of people have been really aching to own a bitcoin now because of how much demand it is accumulating and how many other people would get rich because of the volatility.