If Bitcoin Is Old Tech But....

[alexeev.tosha0109@yandex.]

Because the main Bitcoin's benefit as the first is a strong reputation. Bitcoin exists for a long time, we know that it isn't a scam and use it for the wealth storage and making payments.

[pooya87]

it saddens me to see how many newbies like the starter of this topic have been brainwashed by the altcoin scammers into thinking like this. it is specially worse when the shitcoin that fooled them into this way of thinking is the exact copy of bitcoin with a poor design and lots of weaknesses because of the changes they made while copying bitcoin.

[DoubleEdgeEX]

The Ford Model T is also old tech but it´s still appreciated as the first mass produced automobile. Bitcoin might not have the best solution underlying it when it comes to speed and scalability but it will always have the first mover advantage and the prestige that comes with it. Beside all that, acceptance is key and nobody cares about the 4281 shitcoin.

[pawanjain]

I don't consider bitcoin as old tech but I do think that Satoshi never expected so many people using bitcoin all together.
There are problems with bitcoin and I do accept it but it will always stay as a first comer in the crypto industry.

Sometimes things are created not to solve a problem but to open the gates for further advancement, to make new inventions to solve complex problems.
Satoshi did try to eliminate most problems with bitcoin but as he left bitcoin to grow on it's own it made bitcoin to lead the way and with that bitcoin paved the way for better currencies to arrive. Cryptocurrencies like ether are trying to solve many problems which is why I think bitcoin will stay and more better cryptocurrencies will be used to solve more complex problems in future.

[davis196]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

There are plenty of altcoins.If you don't like Bitcoin just pick one altcoin and use it everyday.
That's the beauty of the cryptocurrency world.You have choice.You are not forced to use a particular currency,like in the fiat world.
If you want instant transaction speed,just use VISA or Masrtercard. We in the crypto world are focused on features that are more important than transaction speed or scale-security,decentralization,etc.
I don't understand your whining about scaling and speed.Are you some BCH/BSV supporter?Are they faster than BTC?

[MCobian]

If someone says bitcoin is old tech, it means that the person doesn't understand technology. Bitcoin dominates the market from being
created until now, this proves that there is still more demand for bitcoin compared to another cryptocurrency. Lots of cryptocurrency
others that have cheaper and faster transactions than bitcoin, but that does not guarantee more profitable. In my opinion bitcoin is still
can last for the next 50 years, because bitcoin uses blockchain technology. Which blockchain technology is still fairly sophisticated,
even some countries are still studying blockchain technology until now.

[YOSHIE]

If Bitcoin is old tech,

Why do people still use output cars, in the 70s, 'antique' is also considered the oldest technology.

Here, someone's trust and confidence will appear in one thing that is believed to bring benefits in the future, if so Bitcoin is a crypto technology that is 'antique' never obsolete always can be traded by many people even though Bitcoin technology is old.

Bitcoin always gets, everyone's trust in the world, you don't need to doubt Bitcoin which uses the oldest technology, You can stay smooth & fast when, you make transactions in Bitcoin.

[abel1337]

If Bitcoin is old tech,

Why do people still use output cars, in the 70s, 'antique' is also considered the oldest technology.

Here, someone's trust and confidence will appear in one thing that is believed to bring benefits in the future, if so Bitcoin is a crypto technology that is 'antique' never obsolete always can be traded by many people even though Bitcoin technology is old.

Bitcoin always gets, everyone's trust in the world, you don't need to doubt Bitcoin which uses the oldest technology, You can stay smooth & fast when, you make transactions in Bitcoin.

Well you have a point, Antique cars do have a value that didn't depreciate over time and it is the opposite who rises its value as time goes by. The only thing that they are different is usability, Bitcoin can still be used normally like its when first used comparing to antique cars that have the high possibility that it will break down when it's used. But I'm sure both have a legacy and good value that's why it can't be replaced by any other new technology. It's hard to doubt bitcoin especially it holds a greater value over the new tokens that have to find a solution to bitcoin problems.

[DooMAD]

Most of the altcoins claiming to be the most up-to-date technology have a single developer who might update the code repository once a week, maybe.  Then after a while, they get bored of developing a dead-end project and disappear.  

Bitcoin, on the other hand, has numerous developers and frequent updates.  It can't be "old tech" if it's updated more frequently than the gimmicky altcoin projects that fold and vanish without a trace when they run out of marketing buzzwords to throw around.

People also need to consider how useful any new technology actually is.  Someone could invent a portable machine that allows you to simulate arctic temperatures in your living room, which would be an impressive technological accomplishment.  But who actually needs that?  A lot of people don't need the supposed benefits these altcoins are claiming to offer.

[john_cm]

You are wrong...
Who complaints that the Bitcoin transaction is slow? Who says that Bitcoin technology is old already?
There is no other Bitcoin than this the Old one (as you say). Yeah, we can create a lot of altcoins but not another Bitcoin.

We don't need to be FUD in here if we don't believe and trust this technology. Bitcoin is just a 10-year-old baby and it already showing great and amazing results. We have the dumps and ups but people are still happy with this, don't you ever know that? I hope you don't mind this but to consider reconciliation rather than to think wild.

I am not FUDing mate, rather I am seeking for information or input from the community

[FinneysTrueVision]

Bitcoin is the most secure decentralized currency. That's why people prefer it over altcoins that are marketed with fancy buzzwords.

[mk4]

Bitcoin might not have the best solution underlying it when it comes to speed and scalability but it will always have the first mover advantage and the prestige that comes with it.

It's because speed and scalability isn't the main goal in the first place; these things are secondary. What's mostly important is that the blockchain remains secure and as decentralized as possible. The reason why Bitcoin is quite slow, is that it's quite difficult to have on-chain changes to improve speed, without sacrificing security and decentralization. Hence why the devs are focusing on 2nd layer solutions when talking about scalability.

[so98nn]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

It's not enjoying any benefits of being first, all it has gotten is it's reliability property of transactions. I mean how many altcoins are there ? Many more but still none of them were able to handle the purpose of transactions with great efficiency.

I couldn't imagine bitcoin getting old, rather it will keep improving in its network, compatibility and way it works. It would be hard to say when more patches will come for upgradation or may not even come looking at it's ideal framework right now.

The final coin will be minted in 2145, it's not old yet.

[Nhor1011]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

Bitcoin is just the beginning of something new,usable,unique and valuable digital currency that exist in our world with modern and high technology. It was the most adopted and accepted digital currency that brings it's value higher until now. If you want to turn into another cryptocurrency, i am sure it will only turns to nothing and useless. Everything is base on demand,supply and adoption which bitcoin already gained.

[CryptopreneurBrainboss]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

Other are just copycat and if we're to shift our focus to the so called better cryptocurrency that means we will have to keep shifting our focus as better and new ones will be developed daily per se just improving on a particular aspect of the parent cryptocurrency just to profit from the supposed hype that'll be recieve from improving on already existing technology.

We stick to bitcoin because it has proven without any doubt it's intention to make the currency Industry a more decentralized and better one and not been promoted by some selfish CEO like other cryptocurrency in the market. The technology is still under development and it's been improved in when the opportunity presents itself.

We're just into the first decade of the existence of the  cryptocurrency and look how well it has done in achieving adoption and price appreciation. Just keep believing in the technology and you won't regret.

[Nathanz]

You really cant put Bitcoin out of the map considering its legacy and popularity among the cryptocurrencies out there. Bitcoin is more convenient and popular so using an alternate coin would be like switching from a smartphone to a keypad phone. I hope you get my point.

[john_cm]

You really cant put Bitcoin out of the map considering its legacy and popularity among the cryptocurrencies out there. Bitcoin is more convenient and popular so using an alternate coin would be like switching from a smartphone to a keypad phone. I hope you get my point.

Your statement still boils down to the philosophy that suggests that Bitcoin might only be enjoying the benefit that comes from its popularity of being the first cryptocurrency not necessarily that its better than other new generational cryptos.