Is Bitcoin so valuable just because it was first?

[adzino]

In a way or so, yeah. Bitcoin does have its own advantage for being the first crypto currency to be be used. Those advantage has a long lasting impact on the market. When you talk about crypto currency, the first thing that comes to most of the peoples mind is "bitcoin". This is because the word "bitcoin" has been out there from the very beginning. Thus people starts to trust/believe in bitcoin more than any other crypto currencies due to its reputation. This is eventually fade out as time passes by and a new currencies might end up dominating the market.

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[jakoylantern]

For me, yes, bitcoin is so valuable because it was the first successful cryptocurrency that has a different capability and ability. The decentralized currency that no one can control, improving blockchain technology, increasing acceptance & legality, etc. But if someone will create another cryptocurrency that much better or making a new version of bitcoin that will become bitcoin 2.0 that improve all good aspect of bitcoin, I think bitcoin value will drop and most cryptocurrency user will choose bitcoin 2.0. Imagine much acceptable, much higher blockchain tech and much valuable; I'm sure that you will pick the new version if that happens.

[Successmaniac4]

Bitcoin is not valuable just because its first but because it has been a very successful cryptocurrency since its inception. It has proven that, blockchain technology as well as cryptocurrencies have a future and there are here to stay.

[Youghoor]

The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space.  Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..

[Gi01]

The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space.  Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..

I think I might agree with you 100%. So far as blockchain technology is been used by people and institutions or platforms, bitcoin will always be valuable since blockchain technology and bitcoin move hand in hand with each other. Bitcoin will only become less valuable when blockchain technology is no long in use.

[Twinkledoe]

The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space.  Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..

I think I might agree with you 100%. So far as blockchain technology is been used by people and institutions or platforms, bitcoin will always be valuable since blockchain technology and bitcoin move hand in hand with each other. Bitcoin will only become less valuable when blockchain technology is no long in use.

Because of bitcoin, blockchain technology was introduced in the community. We always associate bitcoin with blockchain. No wonder, mass adoption is great in bitcoin as compared to any other altcoins. Many have copied, imitated, improved the bitcoin network, yet, they do not succeed in competing with the popularity of usage of bitcoin. People always go back to bitcoin.

[finaleshot2016]

The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space.  Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..

I think I might agree with you 100%. So far as blockchain technology is been used by people and institutions or platforms, bitcoin will always be valuable since blockchain technology and bitcoin move hand in hand with each other. Bitcoin will only become less valuable when blockchain technology is no long in use.

Because of bitcoin, blockchain technology was introduced in the community. We always associate bitcoin with blockchain. No wonder, mass adoption is great in bitcoin as compared to any other altcoins. Many have copied, imitated, improved the bitcoin network, yet, they do not succeed in competing with the popularity of usage of bitcoin. People always go back to bitcoin.

Agree, the advanced technology that we must cherish is the blockchain. It's great and we can have more innovative developments on that advanced technology. That's the reason why Bitcoin rose up, it's because of the blockchain that holds the bitcoin for so long. Once the blockchain technology gets more additional features, they will stay and invest more on bitcoin because the possibilities to reach the moon will get bigger.

[Krislaw]

My answer is Yes. Since Bitcoin became the first truly popular cryptocurrency, it allowed it to acquire a huge community, which made Bitcoin significant in the eyes of the public.

It isn't about populairty or first cryptocurrency ever have. it's about new technology about payment, when people have problem about centralization, Bitcoin came to repair using new methode.

[hv_]

My answer is Yes. Since Bitcoin became the first truly popular cryptocurrency, it allowed it to acquire a huge community, which made Bitcoin significant in the eyes of the public.

It isn't about populairty or first cryptocurrency ever have. it's about new technology about payment, when people have problem about centralization, Bitcoin came to repair using new methode.

Except that btc and having signature lost by risk + high fees in the sum is no good payment any more...

[cipherhut]

Along with the Bitcoin's seniority, the availability of the BTC in the market with easy market access as compare to the other altcoins make it valuable.

[qwertyup23]

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This is actually an interesting question but when you think of it, anything that has been created first is considered to be the reigning/dominant one in their respective market. But what makes BITCOIN different is that it introduced the blockchain technology. Due to the blockchain technology, it sparked and revolutionized the payment methods which caused a myriad of creations of altcoins.

My answer is Yes. Since Bitcoin became the first truly popular cryptocurrency, it allowed it to acquire a huge community, which made Bitcoin significant in the eyes of the public.

It isn't about populairty or first cryptocurrency ever have. it's about new technology about payment, when people have problem about centralization, Bitcoin came to repair using new methode.

Popularity does play a role but not the entire reason on why it is successful. If you were a revolutionary product and the first of its kind, you have the monopoly, control, and demand over the market. Popularity alone may boost your sales and attract other investors.

[kecha1]

I did not think about it, but perhaps this is one of the reasons why bitcoin has become so valuable

[Kocret02]

I think bitcoin is not just the first, but bitcoin is now one of the most high-priced coins and low total supply. so I don't think it's the problem of the first coin, but it is also the type of coin that is most interested in the market.

[alexcopper]

I think it is so valuable because it was first and enough people jumped on the BTC bandwagon to protect the chain. People also got very invested in mining and seeing how much money they could make by doing so where as now chains are moving to staking system

[Herbet Fry]

Bitcoin is like how the USD is in the fiat world. Pounds and EURO can be seen as altcoins. I also think people believe in bitcoin since it was the first crypto made by satoshi and that is a huge selling point on its own.
Some forks have altered motives perhaps? It is actually not easy to explain.

I  also believe it has something to do with "elitismn" such as owning a BMW or Mercedes sports cars. The name brand. Known, trusted and working.

[tiedcoin]

Being the first in line is definitely an advantage for Bitcoin. But that for sure is not enough to remain on top of the game. Then why is Bitcoin still doing well amongst users?
Well, first of all, we have to understand and analyse why it does better than other cryptos. Since it has been around for so long now, Bitcoin has gained the trust of its users and is gaining more every day. The trust factor plays a big role in Bitcoin’s rise.
Secondly, no matter what people might say, bitcoin has given large returns on investments from time to time. There’s no denying that others have too. But the volume of returns on Bitcoin just cannot be ignored.
The time for transactions being processed is more the problem of the block chain process rather than that of Bitcoin. And it is a known fact that the world knows crypto currencies because of the rise of Bitcoin to the mainstream.

[ttcsalam]

So many beautiful questions. That's the first coin that's right. But technically Bitcoin. Best of all. First of all, no other coin is so much more transaction. And there is no such qualification. Bit coins are the best. The best one will be there.

[linkingt]

Bitcoin is valueable.but here us not only one reason.it was the 1st so that it os most popular than other digital currencies beside it is expensive and familiar to people so moreover people trade with bitcoin.for these  reasons  bitcoin is the valueable currency.

[minersday]

Some altcoins are better than bitcoin for specific purposes. Bitcoin has the trust of the people and a very solid system.
Any altcoin that wants to compete with bitcoin has to offer something new, otherwise is just a bitcoin clone...

Bitcoin is valuable not because it has the trust of the people but it is because of blockchain technology.  Bitcoin arrived with blockchain technology which introduced decentralization ushering people in the financial ecosystem with financial freedom. I don't see any altcoin which is better than bitcoin in terms of technology or products backing them. Most altcoins use bitcoin's algorithm to develop their own blockchain network without having any particular solutions to solve gaps seen in the financial space.
Bitcoin is better because it solves and bridges gaps seen in the centralized financial systems.

[joinfree]

You have such a great  question but in business  when you build house  hold  name u will always be valuable.   a lot  people has  heard about bitcoin but they don't know  anything about cryptocurrency. Most people  think there is  no  other  cryptocurrency apart from Bitcoin.  when  ever someone  want to  adopt   cryptocurrency  the  first  word to  come to his  or her  mind is  bitcoin.  first wallet  to  get  is  bitcoin wallet when a business  build him self  this way  nothing can stop it.  bitcoin got  allot of history and other coin always used  the history of bitcoin to  convince  investor to  buy their  coin.