Why is Bitcoin more worth than other cryptocurrencies that have better specs?

[vominhtri1611]

One of the main reasons why Bitcoin has more worth than any other cryptocurrencies is because it has the proven track record to secure hundreds of billions of dollars ($269 billion as of Dec.8 ) without getting it lost to theft or accident.

If a person manages to successfully hack Bitcoin, he or she will easily top the Forbes’ Billionaires List at #1. And believe me, people have definitely tried to get this money that Bitcoin holds right now.

No other cryptocurrency has been held to the same amount of scrutiny and stress-test as Bitcoin. Let’s really test the limit of this technology.

Good or bad, I’m extremely excited what we will see in the future.

I hope you are too.

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[khelan]

Beacuase it's an older coin widely accepted by many people over the world. But it may be changes as people start using other coins.Like Monero on dark web. Where BTC volume reduce and Monero volume increased.

[audaciousbeing]

Discussions like this really to me, are not what is needed in the crypto space now because its about whipping up unnecessary sentiments over a sleeping matter. Bitcoin has grown over the years to start competing with other alt coin projects that have relied on doing things better in other to boost the entire crypto space which I believe that putting sentiment aside, its all about the same objective which is making crypto mainstream and any promotion on either bitcoin or alt, the effect is felt on both. People have allegiances and are ready to defend those allegiances even when the fact are staring at them and that is why some discussions are better avoided. #my opinion...

[kalstarzz]

Yes, you are right.
I see people researching the history of the development of bitcoin and they conclude that bitcoin is good to defend from other Altcoins. besides that many assume that the emergence of all altcoins originated from the emergence of Bitcoin. so they believe bitcoin is more valuable than other cryptocurrency.

[joniboini]

One of the main reasons why Bitcoin has more worth than any other cryptocurrencies is because it has the proven track record to secure hundreds of billions of dollars ($269 billion as of Dec. without getting it lost to theft or accident.
-snip-

While the Bitcoin network isn't hacked yet, but a cracker can steal it by hacking an exchange, which has happened many times since MT.Gox incident. I don't really see any direct correlation between the highest market cap on the market with the price of BTC.

Beacuase it's an older coin widely accepted by many people over the world. But it may be changes as people start using other coins.Like Monero on dark web. Where BTC volume reduce and Monero volume increased.

Define "many"? I don't think even 1% of people in this world (that is, around 60 million) use Bitcoin. Even the number of users of Bitcointalk is only around ~2 million. Bitcoin is not yet adopted by many. On the other hand, looks like blockchain will have a bright future because mass-adoption is currently on-going.

[pooya87]

because other cryptocurrencies have different specs and different does not mean better. in fact sometimes different means worse. for example an altcoin with faster blocks seems like having better specs but in reality it is worse because it is decreasing the chances of a better decentralization since running a node will be that much harder. (try running a ETH node and you will understand agonoy)

If a person manages to successfully hack Bitcoin, he or she will easily top the Forbes’ Billionaires List at #1. And believe me, people have definitely tried to get this money that Bitcoin holds right now.

no he won't be a billionaire because first of all price would fall and secondly he will be a thief and can be arrested. not to mention that if bitcoin were hacked someday all the altcoins would be hacked also because they are using the same technology more or less.

[mk4]

One of the main reasons why Bitcoin has more worth than any other cryptocurrencies is because it has the proven track record to secure hundreds of billions of dollars ($269 billion as of Dec. without getting it lost to theft or accident.

This is simply false. The probability of bitcoin being lost just because it's sent to a wrong address is very high. Also bitcoin being lost to theft, I'm pretty sure a good number of people has their BTC stolen in the past through malware or social engineering attacks.

[kasurnya]

One of the main reasons why Bitcoin has more worth than any other cryptocurrencies is because it has the proven track record to secure hundreds of billions of dollars ($269 billion as of Dec. without getting it lost to theft or accident.

If a person manages to successfully hack Bitcoin, he or she will easily top the Forbes’ Billionaires List at #1. And believe me, people have definitely tried to get this money that Bitcoin holds right now.

No other cryptocurrency has been held to the same amount of scrutiny and stress-test as Bitcoin. Let’s really test the limit of this technology.

Good or bad, I’m extremely excited what we will see in the future.

I hope you are too.

currently there have been many altcoins that have been designed using more sophisticated systems, but I don't think that affects Bitcoin at all.
it's just a matter of trust, people trust bitcoin more than altcoin.

[CODE200]

One of the main reasons why Bitcoin has more worth than any other cryptocurrencies is because it has the proven track record to secure hundreds of billions of dollars ($269 billion as of Dec. without getting it lost to theft or accident.

If a person manages to successfully hack Bitcoin, he or she will easily top the Forbes’ Billionaires List at #1. And believe me, people have definitely tried to get this money that Bitcoin holds right now.

No other cryptocurrency has been held to the same amount of scrutiny and stress-test as Bitcoin. Let’s really test the limit of this technology.

Good or bad, I’m extremely excited what we will see in the future.

I hope you are too.

Definitely, because it is the first cryptocurrencies that appears in the market therefore it is much more stable and has a strong foundation than the other cryptos. There's a facts that there are some other cryptos that has a better specs, actually, all cryptocurrencies has a different platforms and have their own capabilities but when it compared to bitcoin they can never be reach the better platforms that bitcoin it has. Bitcoin can gives and serves a lot of benefits and opportunities to people that's why a huge of people must be choosen and loved it.

[talkbitcoin]

it is because you can not paint manure yellow and sell it as gold. when the paint fumes wear off the smell of manure starts coming out and show the true nature of what lies under that yellow paint.

one of the methods that was used to test gold was to bite down on it. you can bite down on that manure to find out the real taste of it too. and that is what happens when you start using these other cryptocurrencies that you call "better specs"

[InboundMercury]

As far i know Bitcoin is the first coin in the world of crypto and also it is the most trusted coin and also many shop and automobiles accept only bitcoin .

[Andrey13101991]

The cost of bitcoin is not guaranteed, except for the huge demand and its prospects. If there are willing to buy, then the rate will continue to grow. And now the number of investors is very large and, most likely, will only grow. Bitcoin has become incredibly popular in the media and the masses over the past year. Many investors are looking for an opportunity to purchase it.

[Theresachinyere]

Bitcoin is more popular than any cryptocurrency as it is the first ever cryptocurrency been launched in this market and this gives it a first mover advantage in crypto at large

[vominhtri1611]

One of the main reasons why Bitcoin has more worth than any other cryptocurrencies is because it has the proven track record to secure hundreds of billions of dollars ($269 billion as of Dec. without getting it lost to theft or accident.

This is simply false. The probability of bitcoin being lost just because it's sent to a wrong address is very high. Also bitcoin being lost to theft, I'm pretty sure a good number of people has their BTC stolen in the past through malware or social engineering attacks.

I think your problem is personal security, the wrong address is due to the carelessness of the individual, as well as the loss of private key.

[Harpawan]

people are researching the history of the development of bitcoin and they conclude that bitcoin is good to defend from other Altcoins. besides that many assume that the emergence of all altcoins comes from the emergence of Bitcoin. so they believe bitcoin is more valuable than other cryptocurrency.

[Theresachinyere]

everything is traded using bitoin and also, it is the first ever crypto that was created and this is a good advantage of a coin ahead of others

[Strufmbae]

Why you don't specify the coins that you said that has "better specs"  than bitcoin if really there is.?  If there is other cryptocurrency which has better specs than bitcoin, then bitcoin will possibly dissolved like a shitcoin,  but there is none. Maybe you are just imagining things from a different dimension.

[jseverson]

No other cryptocurrency has been held to the same amount of scrutiny and stress-test as Bitcoin. Let’s really test the limit of this technology.

The limit has actually been tested lol. Remember December 2017? People have always known that there were scalability problems but they haven't really manifested until then. It doesn't matter that they were possibly spam attacks, because it should be invulnerable to those anyway.

But yeah I kinda get what you mean. No cryptocurrency has ever really been hacked itself,but many others are potential or even actualized victims of pump and dump and/or 51% attacks. Bitcoin has also generally been faring better than the rest of the market considering its increasing dominance in this bearish climate, which indicates strong trust relative to the others.

In the end, its big community will mean more resources, more stability, and better future outlook that can't really be beaten by marginally faster processing times and/or a little more scalability (there's no coin that can claim to be heads and shoulders above Bitcoin in every aspect). Those can be overcome with technological improvements anyway, of which plenty are planned in the future.

[wxa7115]

One of the main reasons why Bitcoin has more worth than any other cryptocurrencies is because it has the proven track record to secure hundreds of billions of dollars ($269 billion as of Dec.8 ) without getting it lost to theft or accident.

If a person manages to successfully hack Bitcoin, he or she will easily top the Forbes’ Billionaires List at #1. And believe me, people have definitely tried to get this money that Bitcoin holds right now.

No other cryptocurrency has been held to the same amount of scrutiny and stress-test as Bitcoin. Let’s really test the limit of this technology.

Good or bad, I’m extremely excited what we will see in the future.

I hope you are too.

If a person or government hacked bitcoin then that person will not become a billionaire since the trust in bitcoin will be lost and its worth will be zero, despite the huge leap in technology that is bitcoin, bitcoin is still a currency and it needs to follow the same principles that any currency follows.

Trust is the most important aspect of a currency, that is why the US dollar is still the number one currency despite the fact that is being printed too fast but once that confidence is lost the currency collapses, even gold is subject to that, what it happens to gold is that it has been money that has lasted for thousands of years which is why it is trusted by people, and bitcoin even if it is very young is getting that kind of trust very rapidly as well.

[dothebeats]

First mover's advantage. Usually, people cling on to something that has proven itself over a period of time instead of trusting a new growing fad that usually points out to being doubted by people. Also, bitcoin's infrastructures are arguably larger than any other cryptocurrencies out there, which gives the fact that people behind the said infrastructures would do everything on their power just to ensure that the value wouldn't go down to a point where profitability is no longer possible. As you said, specs don't really attract the typical investors nowadays since this is not the age of enthusiasts but rather the masses for cryptocurrencies. Whatever is the hit coin, they'll invest in it and hope to make a fortune, and bitcoin hasn't left the spotlight one bit, so there's that.