Why bitcoin is successful? - this one statement sums it up!

[davis196]

At it's beginning,,bitcoin looks very egalitarian in it's core.This must have been a big reason,why the early adopters started mining btc and spreading awareness about the first cryptocurrency.
10 years later,the egalitarian nature of btc is gone.There are big miners,big crypto whales and big crypto exchanges.The myths about zero fee instant transactions and 100% anonymity are busted.
However,the lack of complete centralization is still a big advantage.

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[nicecrypto]

Btc was successful because it was the first of it's kind to be seen at that time, many people got fascinated by the intelligence behind the technology, btc was the first cryptocurrency to exist, just that alone is enough to draw people's attention,

No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

this above factors/features was not really required to draw attention of great minds who sees endless possibilities with this technology, but in this present time, no project will last a day without having the above mentioned, it will be like child's play

[Pixyoxx]

One of the main reason for Bitcoins to be the most successful and popular Cryptocurrency is that it's decentralised.
As the tweet says, all these things make it so trustworthy
Bitcoin prices go up without any advertising, this shows us how popular and trusted it is among the people.
It is like the USD of Cryptocurrencies.

[BitcoinPanther]

What I can say is Wow! The above things can be sum-up into one.

No overhead.

But this statement really struck me.

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings

.
The real reason why Bitcoin exists is to change our lives. It is true that many lives were uplift and have given second chances. Dreams were fulfilled and needs were met. Most importantly it brings hope to everyone. And because of that, it became successful.

[buwaytress]

No social media is no longer accurate, hasn't been for a long time. I recall slashdot driving up adoption just from all the discussions around it. Not to mention all the awareness from this forum and from wiki, who are still high up on Google search rankings anywhere in the world.

But of course, I get what you mean. Shouldn't dismiss the element of luck as well. And the convergence of other factors. Global economic crisis. Internet penetration. Cheaper consumer devices. All the regular shit driving tech adoption.

[womanwrappa]

Yes, in the simplest way of expressing it those are important reasons why bitcoin has become the top and the most recognizable cryptocurrency of all time. Bitcoin is actually not the best and may not be perfect but it is the one which the market is addicted with. In other words, bitcoin is really unlike any other enterprise model we have and the technology underlying it is quite unique and very transforming yet at its essence it is actually just simple.

you have said it all.

[Vaculin]

What I can say is Wow! The above things can be sum-up into one.

No overhead.

But this statement really struck me.

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings

.
The real reason why Bitcoin exists is to change our lives. It is true that many lives were uplift and have given second chances. Dreams were fulfilled and needs were met. Most importantly it brings hope to everyone. And because of that, it became successful.

Bitcoin has been more known to the people not just of its real essence as a decentralized crypto but it also becomes more sucessful because it is clearly lifting the people's economy and bring them into progress. I have never known a coin who can be very useful like this except for bitcoin alone.

[Dixbless]

I believe that btc is not the best crypto we can get. I believe we can create something even better. Anyways, this post makes sense.

[Coyster]

One of the main reason for Bitcoins to be the most successful and popular Cryptocurrency is that it's decentralised

Every cryptocurrency is actually decentralized, I think it's popularity is down to the fact that it was the first coin to be created and it has developed far much quicker and better than the rest

Bitcoin prices go up without any advertising, this shows us how popular and trusted it is among the people.
It is like the USD of Cryptocurrencies.

Bitcoin adoption is taking quite a great step and that's another reason for it's success, bitcoin is now very much accepted among individuals and nations, and it's adoption continues everyday.
Bitcoin is the king of the cryptocurrency world.

[94K]

Its no surprise to me that bitcoin is successful in this cryptocurrency industry. I believe bitcoin is successful due to it being the top and leading cryptocurrency on the market and supported by experts.

[whtchocla7e]

There are many reasons why Bitcoin is successful. First of all it is security, so far the lost bc cases can only be leaked their security keys, there is no case the BTC platform is hacked. The second is the first currency, it can be said that this is the father of many other currencies, as a teacher who leads students to develop. Finally, it is the spirit of it, no one knows who the creator of BTC is, these are also mysteries that make us curious.

[Bob Smith]

I believe that btc is not the best crypto we can get. I believe we can create something even better. Anyways, this post makes sense.

Yes, there is always a room for improvement, I agree with you on this. But as of now bitcoin is the best when compared to the other crytpos that we have.

[Cemploon]

Bitcoin can be successful due to many factors as you mentioned. But I also argue that the success of Bitcoin because the system is not set and anonymous users. Bitcoin has a very large value due to the acceptance and demand is enormous. In particular, Bitcoin can be traded worldwide and people earning money from Bitcoin are not taxable income.

I hope this Bitcoin success can continue to happen. This industry needs to be developed because it generates great profits.

[Rahman11]

Bitcoin is the father of all crypto-currency and also first published cryptocurrenc, so bitcoin is automatic choice for it’s familiar face, bitcoin is the most common and familiar cryptocurrency all over the world at present, so domination is nature of bitcoin yet!

[Shutup]

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?

We often look for the answer of these questions. The twitter handle of CryptoKanoon answered it and I can't resist myself from sharing it with the fellow community members.

The tweet says,

No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings.

I don't think of anything better can be answered against those above mentioned questions! Want to beat it??

Original content link: https://twitter.com/cryptokanoon/status/1132223935058042880

Bitcoin is successful because it never comes to zero. It has a greater value than the other tokens which is better to invest in here because you will profit as long as you know what to do. This is really helps many people especially poor people having no work.

[longtkhd]

According to the research that was conducted by Rodgers, innovations that are simpler stand a chance to be more successful than more complex innovations. It doesn’t necessarily mean that the innovation needs to have a simplistic underpinning, however it needs to be easily understood. Also, it needs to be user-friendly for the target audience.Compare that with Bitcoin, which only costs roughly the price of the transaction necessary to convert existing currency and which has appreciated considerably in the four years of its existence. In other words, instead of being penalized for being an early adopter, you’ve thus far been rewarded. Another thing that makes the success of bitcoin is the trust of the market, the stable development with the solid foundation that has brought success to today.

[thecryptogandalf]

Yes, BTC has those major advantages. I think BTC needs more awareness, actively usage in daily life rather than HODL, credibility and trust in order to be reach its deserved success because with those major advantages BTC deserve more. There are vast majority people of who are ridiculously sceptical against BTC.

[pragna]

Yes, i am fully same mentality here with you. Actually people was trying to a new era or new transaction system that with break general transaction system. Here bitcoin is successful because there no middle men or big boss so that here anybody can easily make transaction without any threatening. Here is also time saving and risk free everywhere. So that,s why i think BTC is successful.

[qwertyup23]

The reason behind the success of bitcoin? The answer is the technology behind it: the BLOCKCHAIN.

Ever since the creation of bitcoin, the blockchain was developed in order to solve and eliminate the need for a third-party in handling our resources (i.e. banks, etc.). Another purpose that it covers stem from its very nature and convenience- cash and anonymity, which not every e-currency have. When people started to see the potential in bitcoin, its price skyrocketed the market and still continues to surprise almost everyone who has bitcoin stored in their respective wallets.

I just hope that people realize that bitcoin is more than its price. What is really valuable is the blockchain technology and its limitless potential in the future when applied to almost everything in relevance with transactions and data.

[Slow death]

Bitcoin is only successful at specific time periods,
usually ~ 4 years from the last peak, then the rest of the time it remains in the shitter.

There is always a very long crypto winter for the very short crypto springs.

Next Crypto spring is scheduled for Nov 2021 , if the pattern holds.
When it does not hold , odds are bitcoin price will collapse back 10 years.

 

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