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Author Topic: Why bitcoin is the most dominant?  (Read 556 times)
sham100899
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April 27, 2018, 10:44:47 AM
Merited by dupee419 (1)
 #1

Why bitcoin is the most dominant among all crytocurrencies?
Is it because it is the first crytocurrency?
Is it because of its popularity?
Is it because of its value?
Please enlighten me.

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April 27, 2018, 10:48:51 AM
 #2

Why bitcoin is the most dominant among all crytocurrencies?
Is it because it is the first crytocurrency?
Is it because of its popularity?
Is it because of its value?
Please enlighten me.

First mover advantage, I should say. Also, what you've mentioned is correct. Basically, bitcoin was the first cryptocurrency known to people and also the first to gain value and be traded with real money. Because of this, many people have entrusted bitcoin their money which, in turn helped bitcoin's value boom. With the advent of newer cryptocurrencies, exchanges sought to accept bitcoin deposits before getting the crypto you want, which makes bitcoin a very vital avenue for you to get to your desired crypto. You can also add the fact that most cryptocurrencies are privately-owned, pump and dump schemes which makes most people distance away from these obvious money grabbers.

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April 27, 2018, 10:49:35 AM
 #3

Why bitcoin is the most dominant among all crytocurrencies?
Is it because it is the first crytocurrency?
Is it because of its popularity?
Is it because of its value?
Please enlighten me.
Bitcoin becomes dominant because Bitcoin has a very good level of trust in the public. Bitcoin has the confidence to use and be an investment. Bitcoin is superior to other coins, I strongly believe in Bitcoin because it has started many people who accept Bticoin and already many places that recognize Bitcoin as a medium of payment. So I strongly believe that Bitcoin can be a globally recognized currency.
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April 27, 2018, 10:51:01 AM
 #4

Why bitcoin is the most dominant among all crytocurrencies?
Is it because it is the first crytocurrency?
Is it because of its popularity?
Is it because of its value?
Please enlighten me.

Bitcoin is the dominant cryptocurrency its because of what you mentioned. If bitcoin was not the first cryptocurrency that succeeded then probably bitcoin is not on the top of the food chain right now. Also bitcoin become very popular with the public because of the trend of its value, it started out as centavos but right now its value is in thousands of dollars.
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April 27, 2018, 10:52:42 AM
 #5

being first and all that surely has helped bitcoin in being the dominant cryptocurrency by a great distance from the rest but it is not the main reason for it. the real reason is the usage of bitcoin and the fact that it is delivering on the promises. promises such as being decentralized, being a currency, being secure and a lot more.

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April 27, 2018, 10:56:44 AM
 #6

Because it's the first cryptocurrency and it has the biggest adoption..as simple as that. Plus, its creator is unknown which gives the whole new meaning to its decentralization.
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April 27, 2018, 02:15:01 PM
 #7

Bitcoin currently dominates solely because it was the first crypto currency. There is no other reason for this. Technically, bitcoin is much weaker than many crypto currency. Such as coins like Ripple or NEM. However, since he was the first he is the most popular. There are a lot of people who know only bitcoin from all crypto currency.
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April 27, 2018, 02:20:27 PM
 #8

Why bitcoin is the most dominant among all crytocurrencies?
Is it because it is the first crytocurrency?
Is it because of its popularity?
Is it because of its value?
Please enlighten me.

Bitcoin was a pioneer who opened the way for others-
When people first time hear about crypto currencies, first they hear about bitcoin.
Bitcoin is like entry point for a new players.
Also, we already have many shops which accept bitcoin for payments, bitcoin debit cards, bitcoin ATM etc.

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April 27, 2018, 02:21:47 PM
 #9

Simply, many exchanges are traded on the basis of bitcoin. If you want to go to the stock exchange you need to have bitcoin. Or alternatively Ethereum.

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April 27, 2018, 02:44:00 PM
 #10

because bitcoin is the most popular virtual currency, it is because in developed countries have started legalize bitcoin as a legal transaction tool. hence bitcoin more widely known by people in the world finally many are interested in using bitcoin, so bitcoin dominate in market crypto.
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April 27, 2018, 02:50:48 PM
 #11

As the main coin, the selling value is much higher than the selling value of the other coin. The movement of bitcoin is not in the reach of other coin coin.
Not excessive when bitcoin is more popular than other coin. And more like by traders.
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April 27, 2018, 02:53:37 PM
 #12

bitcoin is the most dominant among all cryptocurrencies, this is because bitcoin is the first time ico is made, and as you say, bitcoin popularity is very good in the public eye, many people are interested because the price is very expensive and very suitable for long-term investment
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April 27, 2018, 02:56:24 PM
 #13

Why bitcoin is the most dominant among all crytocurrencies?
Is it because it is the first crytocurrency?
Is it because of its popularity?
Is it because of its value?
Please enlighten me.


This is the biggest reason why bitcoin is so much dominant .
was the first currency and all other altcoins are totally  inspired by bitcoin and want to achieve what bitcoin has achieved in these years . People had put their trust on it in the past and they are still continuing to do it as it is the most anticipated of all .
Moreover , we can all see bitcoin totally manipulated the whole market and the slight downfall leas to downfall in other coins too .

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April 27, 2018, 03:15:43 PM
 #14

I think it all starts with Bitcoin being the FIRST digital currency. As for many pioneers in different field, by simply being the first one, bringing to the world a new brilliant concept and in this case a proper revolution, if this concept is good enough to catch the wide audience attention as for Bitcoin, then yes, your popularity increases, your system improves -because it has the chances to be tested and adjusted. And then of course, the more it is traded, the higher the value Wink
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April 27, 2018, 03:24:32 PM
 #15

Why bitcoin is the most dominant among all crytocurrencies?
Is it because it is the first crytocurrency?
Is it because of its popularity?
Is it because of its value?
Please enlighten me.

I will agree in all that you said. Bitcoin is the most dominant cryptocurrency because of that reason. First is that it is really the first cryptocurrency that we've ever used and because if that many people knows it so it became popular to them and for most of the country that using cryptocurrency. And also one factor why bitcoin is being dominant it is because of the value of bitcoin, we all know that the bitcoin value is much higher compare to altcoins so many people are investing on it.
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April 27, 2018, 03:30:20 PM
 #16

Why bitcoin is the most dominant among all crytocurrencies?

Because its the first cryptocurrency to gain social acceptance throughout the world.

Is it because it is the first crytocurrency?

Its not the first crypto as far as I know, but its the first crypto that really took out.

Is it because of its popularity?

As bitcoin gain acceptance and recognition throughout its young career, it became a household name so obviously its became so popular specially last year when bitcoin peaked at $20K.

Is it because of its value?
Please enlighten me.

Just like I said, it become so popular that a lot of people, institution investors pour a lot of cash resulting in its value almost touching $20K a pop last year.

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April 27, 2018, 03:36:07 PM
 #17

one in my opinion because bitcoin value is very expensive and also technology or cryptocurrency first?
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April 27, 2018, 03:54:18 PM
 #18

Bitcoins also known as crypto king is the oldest and by far the highest searched crypto coin in the market. People associate crypto and block chain with bitcoins. It gives higher value in returns than any asset class in the market. You can remain anonymous and no need to pay tax what more incentive you want.

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April 27, 2018, 03:56:27 PM
 #19

Nowadays many coins are available all over the internet, and one the most dominant of it is bitcoin, bitcoin has lived for more than 10 years , and so many has already have a knowledge about it, many people use it everyday, invest on it, others makes it a living, others use it to earn money, so it is very dominant because it is the first crypto that is available , and now on our time , its the most expensive of them all
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April 27, 2018, 03:57:01 PM
 #20

Why bitcoin is the most dominant among all crytocurrencies?
Is it because it is the first crytocurrency?
Is it because of its popularity?
Is it because of its value?
Please enlighten me.
bitcoin is the most dominant not just because is the first cryptocurrency but because it has the highest potential
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