So Bitcoin is King.. why is it?!

[Boov]

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.

Whether we like it or not, Bitcoin is still the King and there's no other cryptocurrency will beat Bitcoin. Even fiats, Fiats can't defeat bitcoin. Etherium and tokens are just a cryptocurrency that are trying to beat bitcoin but they still not defeating it. Bitcoin is still alive. Bitcoin will still help many people inside Cryto world in the near future.

[anku4009]

Bitcoin has been the king of cryptos, Bitcoin is the most decentralized coin, which is the most important thing for any crypto, and The main advantages of Bitcoin that makes Bitcoin king over other crypto currencies are the network effect and proven security which are nearly insurmountable advantages.

[Nylelyn]

Bitcoin is considered as the King - the first of its high end quality. Bitcoin may not be the first crypto currency launched but it has proven its value and worth in the crypto world. People are dying to buy even a certain portion of it to be able to use it as a tool such as mode of payment and as the currency for trading. It launched decentralization which a lot of users find it interesting and beneficial.

[Adioliver]

So i ask again what makes Bitcoin the King? Network effect?

As we all know bitcoin is popularly known as "The Father of Cryptocurrencies". It is so called because it is first of it's kind.It is the first decentralised cryptocurrency.I think one of it's striking features is that it keeps the user anonymous and secure.Name me any one altcoin which has ever crossed the value of $19000 per token/coin.There isn't any right!!!!!!.That's what makes it the king.
And i believe that bitcoin devs are working really hard on Lightning network.I guess soon in the near future we will be able to transact bitcoins in lightning speed with minimal transaction fee.Once the devs find a solution to these two problems of speed and transaction fees there isn't any power which can rival bitcoin.

[Boysisig207608]

Everybody knows that bitcoin is the king of all cryptocurrencies because bitcoin has been already there before and it is still here and it will still remain up there tomorrow and this coming years to come, for sure bitcoin will never fade. Many organizations, investors and individuals trusted and completed their transactions using bitcoin attracting many more to invest and use bitcoin as their chosen currency for payment.

[yusupjatigumilar]

Bitcoin became the king of the crypto currency because bitcoin is the first crypto currency that appears, it could be called the forerunner of the currency, it's what makes bitcoin prices become very expensive and there are other crypto currencies that can match or rival the bitcoin price.

[alroys]

if there is no Bitcoin, then there will be no Altcoin. Bitcoin is the first crypto to appear, then reappear new coins. Bitcoin prices are highest among hundreds or even thousands of Altcoin. Bitcoin in Say As King, because Bitcoin first appeared and Bitcoin became the Parent of All Altcoin that exist today.

[yudif]

Bitcoin was the first cryptocurrency using the blockchain. It s the "grandparent" of all crypto, altcoin included.

Being first is certainly an advantage for bitcoins. Even when the media covers crypto (even if they are talking about disadvantages), they are just mentioning about bitcoins only and no other coin. Most of the people think that crypto is only bitcoin.

[lodi123]

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.

Yes bitcoin is a King a king of all coins worldwide because of its amazing part and qualities that you've never expected

[Arwinkim]

Bitcoin is "mother" of alt coins including ethereum. It is first digital money using blockchain technology and being developed to disrupt world traditional financial system.

According to coinmarketcap.com bitcoin is still king with over 40% dominance. It is hard for any coins to take its place because people will use bitcoin first to buy other coins.

[jjacob]

Bitcoin is "mother" of alt coins including ethereum. It is first digital money using blockchain technology and being developed to disrupt world traditional financial system.

According to coinmarketcap.com bitcoin is still king with over 40% dominance. It is hard for any coins to take its place because people will use bitcoin first to buy other coins.

Bitcoin definitely has the first mover advantage and it would be hard for other coins to take its place. But it definitely is possible that some other cryptocurrrency with a killer feature becomes popular. The comparison which is made is MySpace and Facebook. There is a possibility that Bitcoin could turn into the MySpace of the cryptoworld.

[Lorna t]

If a forex exchanged is the US dollar of a medium of exchange and become the king of fiat currencies that the same bitcoin is the opposites of cryptocurrencies that you can observe that without a US dollar .not it convert you fiat currency for other currency and you can not even buy good for abroad .bitcoin is also the same as that you do not have bitcoin not to buy or trade without any altcoins .later there are many coin also and aside of that bitcoin has this kind of purchase power but still all can not match bitcoin in a market term.

[vanjava]

Yes it is.
Because bitcoin is one of the first circulating digital currencies in the world of cryptocurreny and is currently the highest price compared to gold or others.

[zhelis74]

Bitcoin became the king of the crypto currency because bitcoin is the first crypto currency that appears, it could be called the forerunner of the currency, it's what makes bitcoin prices become very expensive and there are other crypto currencies that can match or rival the bitcoin price.

Yes, bitcoin is the first ever created successful virtual currency and it is the foundation of all the coins or in crypto world, so it is deserving to be called the king of all coins. In fact if bitcoin drops then mostly altcoins will follow, so it signifies that the people in crypto market are using or investing altcoins to trade in for bitcoin.

[sicnarfkswiss]

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.

Being the original one and the most trusted crypto, I consider bitcoin as the king of all crypto currencies. So if you dont want to consider it you can go with your own belief.

[removebeforeflight]

A king rules the nation and controls the nations people and territory for example, as like a king Bitcoin rules crypto market and its trend is followed bu all altcoins in the market. I personally think Bitcoin is the king of kings since it is ruling the world and going to dominate all the nations with its transaction and block chain technology.

[MXgirl150]

THANK YOU for posting! I am also pretty new to crypto, and it seems kind of obvious to me that bitcoin has some massive limitations... and yet it's still King. Case in point, I asked earlier if I should get paid in BTC or ETH, and got like 100 comments... 99% of them saying take the BTC and run. And thats on bitcointalk where we can assume most of the people are nerdy enthusiasts.

It's hard to believe that the only reason btc is still holding all the cards is because of it's brand name? Although I suppose that in this game a brand name is worth more than anything else. After all... it's "magic internet money" so what actually matters more than brand name?


I have a further question in response to #4 Cartels... I'd like to know why don't they just impose extreme limitations on what 1 computer (or one network) can contribute in a day? Could that help the problem? I'm sure smarter people than me have thought of this... just wondering.

Anyway, its a great question. 

[bjmpoker001]

just look at the bitcoin value. it is the highest among all cryptocurrencies.
the high value on bitcoin shows that means bitcoin demands is very high compare than another coins.

[lucemferrum01]

It was the first in the landscape, it's become representative of the entire crypto world (i.e. bitcoin = all of cryptocurrency in some people's minds), and people know its name.

Agree, if bitcoin was able to represent all other cryptocurrency and how they will become of an advantage to us. If bitcoin didn't able to establish its credibility as of today then it wouldn't reach to the top and be considered a king, it wouldn't even have any competition maybe because its rise gave altcoins to have a sturdy foundations in the market.

[nuggetbram]

Yes, among all the coins Bitcoin is rated as the highest coin as it's growth value is increased 40% as of last year