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

[squatter]

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.

You're only talking about price. That doesn't say anything about Bitcoin's success as a peer-to-peer currency constantly increasing in adoption.

Your attitude reveals something about your true motives: Your primary concern is profit. That's obviously why you promote altcoins like ZEIT while constantly bashing Bitcoin.

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[migws]

This pyramid just perfectly explains the success of Bitcoin. I agree, Bitcoin was created to help people get rid of third-party control and destroy centralized financial management. This makes the coin valuable and successful.

[leftgirly]

It is simple, the anonymity behind bitcoin is what keeps it going. That is the candid explanation of what bitcoin is all about. There are also no known founding  members who may want take advantage of people and be organizing press conferences after falling apart from the rest of the team.

[shoreno]

It is simple, the anonymity behind bitcoin is what keeps it going.

when it comes to anonymity many coins can offer more than what bitcoin can do but bitcoin is just the first crypto to have anonymous feature so it got alot of supporters  .

This pyramid just perfectly explains the success of Bitcoin.

what pyramid  ? you mean bitcoin is a kind of pyramiding scheme ? bitcoin works like a pyramid though but it does not end instantly because the value recovers before it plunges into zero  .

I agree, Bitcoin was created to help people get rid of third-party control and destroy centralized financial management.

by using bitcoin we still need to download bitcoin wallets and most of them are i think centralized and often called as third party apps  .

[Prateek_sharma]

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

Because of anonymity

[pooya87]

I agree, Bitcoin was created to help people get rid of third-party control and destroy centralized financial management.

by using bitcoin we still need to download bitcoin wallets and most of them are i think centralized and often called as third party apps  .

in this context "third party" is referred to someone else that takes control of your money. bitcoin wallets don't do that. and you downloading one doesn't mean you are using a third party nor does it mean they are centralized! all bitcoin wallets are open source and have nothing to do with centralization! not to mention that you will be in full control of your bitcoins.

if it is other than what i said, then it can not be called a bitcoin wallet. for example you can't call Coinbase, exchanges, closed source things like Coinomi a bitcoin wallet.

[Rose_btc]

In my understanding it is the decentralised feature and the technology that has created the place that it standing now.

[serjent05]

This pyramid just perfectly explains the success of Bitcoin. I agree, Bitcoin was created to help people get rid of third-party control and destroy centralized financial management. This makes the coin valuable and successful.

Every thing that states adoption and promulgation have this pyramid system as a core.  Government structure, offices structure, and even the population growth has it.  It is the universal blueprint of adoption and development.  One thing I understand why Bitcoin is successful, many people are fed up with these third party that controls their finances so they wanted something new that enable them to direclty transact with other people.  It is sad that for others, only the profit gain indicates the success of a project and believe that it failed once it crash in price.

Because of anonymity

Bitcoin is not fully anonymous, because it can trace the addresses used on the blockchain and once one of the source address is link to a certain bank account, then your identity can be traced.

[Wonder_woman]

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 all over the world bitcoin attracts people like big whales investors, many rich people involved in bitcoin because of the tempting price of bitcoin last 2017.its very expensive and everybody's expecting for the price increase of this coming year.

[SquallLeonhart]

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.

Seriously, that is what can get us to the promise land, many of us thinks that holding is what will make the value increase, but as we hold, it does not stop of from using it for other things, but this forum user said, I have forgotten his name or handle, there is no way that we can spend bitcoin if we don’t have where to spend it.

I think the awareness that needs to be created first is the one that will cut across, merchants and business people, we need establishment of payment processors and there is need for people who are into buying and selling to start using it, it is whenever we see what we can spend bitcoin on that it will also encourage us to release whatever we have in our spending wallet and not just focus on holding it down.

[retnocintaku]

Many people who previously did not expect that cryptocurrencies had tremendous potential to make money. Especially for Bitcoin and experienced the peak of success occurred in the year 2017. The price of one Bitcoin is incredible and many people suddenly get rich.

This increase in Bitcoin occurs because this coin is number one in crypto. I think the condition of 2017 can be repeated again at the end of 2019.

[Iykejunior]

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

well you have a very good point , all other crypto assets with their teams and meetings and media hype still fail to do as well as bitcoins. Lowkey showing that the media and too many team members are not in any way a sign that a project will do well in this space

[Iykejunior]

In my opinion, bitcoin succeeds not only because of its security, independence or transparency. It succeeds because bitcoin has no owner. Who knows who satoshi nakamoto is? Maybe he doesn't exist

If he does not exist how where people able to com up with his name? and if that name is really his, then he should have been discovered by now, but then it is still all a misery

[Iykejunior]

There are so many alt coins that are far better than bitcoin in terms of technology, Concepts and Decentralization but nevertheless Bitcoin  remain the best because its the foundation, the pillar of all Blockchain Cryptocurrency . As you stated, It doesnt have employee, no advertisment , no CEO , alal these features makes it completely decentralized and free from human manipulation or control. Bitcoin will be successful, it has just started the success journey .

well said, I totally agree with your opinion,lets see exactly what the future holds for our favourite bitcoins. Holding alts has been weird of late btw

[Kakmakr]

In my opinion, bitcoin succeeds not only because of its security, independence or transparency. It succeeds because bitcoin has no owner. Who knows who satoshi nakamoto is? Maybe he doesn't exist

If he does not exist how where people able to com up with his name? and if that name is really his, then he should have been discovered by now, but then it is still all a misery

Satoshi Nakamoto was a person or a group of people, because the protocol could not write it self, it could also not post on this forum or interact with people online. Someone fired up the first node on a computer and they shared the Bitcoin White paper with other people to explain the concept.

The genius behind this makes me think that it might be a collaboration of several people and the fact that they covered most of the loopholes and exploits is proof of that.

The fact that they created this without No head, No funding, No employee, No PR agency, No Social media, No advertisement and No board meetings is simply astonishing!

[slaman29]

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.

I partly agree but then, why is the exact same blockchain technology (or even more superior technology than Bitcoin if we're being honest) not working to give other altcoins the same success?

Blockchain isn't enough is the answer. Bitcoin also has a lot of other things. Hashpower securing the network. Loyal community of merchants and users. Volunteer nodes and developers who run it not for profit. All these!

[Sebas.tian]

Bitcoin can be successful because whales support it. People with economic potential, dreams of changing the investment trend of the world. Those who have created Bitcoin's success can be known as heroes of Cryptocurrency.

I think the most important aspect of the success about Bitcoin is that of it decentralized process of existence among all other cryptocurrency. Its just a project with success and never attached anyone to the success, no controllers, no intimidation from owners, a technology that give freedom for all to be their own self bank and have full control over their wealth. Sometimes, Bitcoin wonder me about it success when I see other coins struggling with the regulations and government, like Libra coin.

[Artemis3]

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.

If it looked egalitarian in the beginning it was by accident. For starters, everyone did not own a computer. And everyone did not own a farm of computers. even in the old days, the race was on and some people simply had more capital to invest more into mining than others.

Mining in itself is not the reason to be for Bitcoin, and as you can see, only 10 years later is starting to look uninteresting. Eventually all those big miners will leave as it becomes unprofitable to mine at any scale, and only a few hobbysts and those with free electricity will remain..

I don't know what you think "instant" means, but a Bitcoin transaction is lightning fast next to a regular international wire transfer. It might not compete against a debit card (without LN) yet, but for almost anything else its better. 1 hour wait? next to 1 week wait?

Anonymity still depends on you. If you mine it yourself, or if you know how to purchase them. Anonymity wasn't really its core feature, the blockchain is public anyone can follow transactions as long as you disclose them.

Most of your comments seem to be your own self made pre-conceptions. Bitcoin is still Bitcoin, it didn't came here to end inequality or give you anonymity.

[SirLancelot]

Bitcoin can be successful because whales support it. People with economic potential, dreams of changing the investment trend of the world. Those who have created Bitcoin's success can be known as heroes of Cryptocurrency.

I think the most important aspect of the success about Bitcoin is that of it decentralized process of existence among all other cryptocurrency. Its just a project with success and never attached anyone to the success, no controllers, no intimidation from owners, a technology that give freedom for all to be their own self bank and have full control over their wealth. Sometimes, Bitcoin wonder me about it success when I see other coins struggling with the regulations and government, like Libra coin.

That is a false statement, whales do exist but the popularity of bitcoin is not achieved by whales, bitcoin is famous for many things, rapid user growth, makes prices explode and that's what makes bitcoin more successful. Whales does not give any contribution to succesfully of bitcoin, but they can actually worsen bitcoin itself because the action is only concerned with their interests.

Although whales have their own positive side also, but the damage that they later cause to the market is something that cannot be comprehended. If there were no whales, the market would have been growing without seeing much panic sell that usually do pull the price of bitcoin down.

Whales started this problem since 2017 when they suddenly entered the market to make some moves that was not in line with how the market should have moved, they pumped money in which made the value surge and most people fell for it out of fomo, and that was the weakness that they saw in us that made them dump the coin and many of us panicky sold into their hands, but despite all their manipulation, bitcoin still manage to survive and that is the success story.

[Maslate]

The only thing I love about why Bitcoin is successful is that of "No Board Meeting" to discuss the selfishness that will put the majority into abject poverty. I don't foresee in the near one decade to two of any project that will come closer

Using bitcoin makes you feel that you own a company or a business, it feels good because you boss yourself around when you are going to work, when to stop, and what to do. Bitcoin gives us a lot of conviniency in life that we could never had when we are in a real job, also bitcoin gives us a lot of money by sitting in front of our monitors all day doing Trading, or even here in this forum doing signature campaigns. It is the definition of "work smart, not harder".

you have only look in one direction or have focus on what you are doing.
Bitcoin is not a job, it's just a currency, what you are doing in front of your computer is you are earning bitcoin through signature campaign, and yeah, you are your own boss as you hold your own time, but you can also do it with other online job with different payment method.

Lastly, don't think too much that signature campaign is a job as it's not.. it's just a privilege to earn and it come go away anytime.