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mhine07
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August 11, 2021, 12:32:51 AM |
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Because bitcoin is the first cryptocurrency that have been develop to introduce in the world of cryptocurrencies. Etherium and other altcoins existed because of bitcoin, simply without bitcoin there are no crypto now. A lot of people now change their life because of bitcoin which is most profitable than gold.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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Sithara007
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August 11, 2021, 03:40:35 AM |
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Also, its network is very much secured.
But being the first of them all also has a factor, if there's another name for the first cryptocurrency then it would be the other thing. Although not just being the first.
There are other factors like it's a lesser and fixed supply which matters a lot.
Security is the biggest advantage, IMO. Bitcoin may be the first "cryptocurrency" as per our definition. But there were attempts earlier. One of the first attempts was in 1998, when Wei Dai came up with his proposal for B-Money. Then there was Bit Gold from Nick Szabo. Perhaps the most important of the innovations of that time was Hashcash. But none of these innovations could garner widespread acceptance, like the way Bitcoin did. So I believe that the advantage with Bitcoin lies with it's security, and not with the fact that it was the "first". |
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Traderbtcc
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August 11, 2021, 07:05:10 PM |
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Can the created bigger than his creator?
A very good question, the created van never be bigger than the creator in this case, bitcoin was the first ever cryptocurrency that actually gave people financial freedom and has been do so for years now, no matter how good these new protocols or blockchain platforms are today they won't be able to surpass bitcoin, because bitcoin gave birth to every single cryptocurrency on the market, any real investor will always buy more of bitcoin than any altcoins in the market. |
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livingfree
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August 11, 2021, 11:28:47 PM |
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Also, its network is very much secured.
But being the first of them all also has a factor, if there's another name for the first cryptocurrency then it would be the other thing. Although not just being the first.
There are other factors like it's a lesser and fixed supply which matters a lot.
Security is the biggest advantage, IMO. Bitcoin may be the first "cryptocurrency" as per our definition. But there were attempts earlier. One of the first attempts was in 1998, when Wei Dai came up with his proposal for B-Money. Then there was Bit Gold from Nick Szabo. Perhaps the most important of the innovations of that time was Hashcash. But none of these innovations could garner widespread acceptance, like the way Bitcoin did. So I believe that the advantage with Bitcoin lies with it's security, and not with the fact that it was the "first". Don't forget about e-cash by David Chaum in 1983. Well, these ideas are forming from one to another and being built with those ideas that came first. But I do agree that with all of those ideas and development. Only the biggest success is with bitcoin. |
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tabas
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August 12, 2021, 03:38:14 AM |
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I think Bitcoin is currently able to survive and be number 1 because maybe the trading volume in bitcoin has an important influence on bitcoin rankings that other coins can't beat.
Other coins will never beat bitcoin at this time. It's been discussed for years that there might be some good coins that will rise but nothing ever happened and most of them are all not good coins. some time ago there was a coin that wanted to replace bitcoin but it didn't last long.
Not just a coin but plenty of coins and projects that have thought of it. |
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elisabetheva
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August 12, 2021, 04:03:42 AM |
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Bitcoin is like gold in crypto world, yes. It's even more rare by the way, cause we know that the max supply is 21 million here, and for gold it's undefined. Btc is like some kind of collectible item also.
because of the limited number and the demand is quite a lot resulting in the value of bitcoin always reaching the highest number, it can be seen from the market cap obtained by bitcoin so far no one has been able to approach it, let alone be able to get rid of it. so it's clear bitcoin as you also say, that bitcoin is not only crypto gold but has become a rare diamond. |
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RussianEnglishTranslation
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August 12, 2021, 05:59:33 AM |
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Bitcoin is just a test before mainstream adoption comes. When utility kicks in, cryptos like XRP and NEAR will be major winners because of their real world utility.
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darahjuang
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August 12, 2021, 06:16:51 AM |
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Does BTC act like gold in the fiat market?  I don’t understand why this currency is still mainly on the cryptomarket. If we take the top 2 ETH, then this token has a huge technological potential with its ICO, NFT, DEFI also has multiple cross-chains that expand the ETH ecosystem. What keeps BTC so high? If we speak openly, then BTC has no role in itself, it's just a dummy compared to other technologies on the other crypto P.S. This is my opinion I just want to know In my opinion, considering BTC is the same as gold in the FIAT market. What makes BTC high in my opinion is because Bitcoin is an anti-inflation cryptocurrency. Unlike the currency in the real world. That's in my view. Plus its influence on Altcoins in the crypto market. |
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King Khaizan
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August 12, 2021, 10:14:22 AM |
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The digital currency, Bitcoin, has recently been widely discussed by the public. More and more people are interested in knowing and acquiring Bitcoin, as its rumored exchange rate is getting higher and higher.
Bitcoin is growing in popularity, especially after billionaire owner of Tesla Inc, Elon Musk, via his Twitter account, expressed his support for the new currency.
Musk said it was a bit late in realizing Bitcoin's potential, noting that he should have bought the currency eight years earlier.
The comment, followed by the tagging of "#bitcoin" on his Twitter profile, pushed the digital currency's value up 14 percent that time.
So, what is Bitcoin?
Bitcoin, often described as a cryptocurrency, virtual currency or digital currency, is a completely virtual type of money. In simple terms, Bitcoin can be thought of as a digital version of cash. Bitcoin owners can use the digital currency as a means of payment to buy products or pay for services. The inventor of Bitcoin is Satoshi Nakamoto, who is known to have launched the digital currency for the first time on the internet in 2009. However, Nakamoto's real identity is still uncertain as the name is apparently an alias. There are several people who claim to be the owner of the pseudonym. So far, there are already several services that accept Bitcoin as a means of payment, one of which is PayPal. Bitcoin can even be used to buy cars made by Tesla Inc.
Bitcoins become valuable because people are willing to exchange them for tangible goods or services, and even willing to exchange them for cash.
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DeathAngel
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August 12, 2021, 10:24:48 AM |
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Bitcoin is number 1 because it’s the best, it’s really that simple. There are only a small % of entire marketcap left to be mined. It’s deflationary, it’s decentralized. In all honesty most alts are centralized shitcoins.
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Dedewahyu
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August 12, 2021, 10:33:47 AM |
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IF what is meant by top 1 in the coinmarketcap ranking, because bitcoin has the largest market capital volume at this time $854,003,404,226 , maybe one day the number 1 position will be replaced if there is an alt coin that can exceed bitcoin's market capital. but it is very unlikely that other coins will flip bitcoin's number 1 position, because the current market movement is still following the bitcoin price movement, if bitcoin goes up almost all coins will go up and if the bitcoin price moves down then other coins will follow.
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llecrf
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August 12, 2021, 10:48:41 AM |
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Does BTC act like gold in the fiat market? I don’t understand why this currency is still mainly on the cryptomarket. If we take the top 2 ETH, then this token has a huge technological potential with its ICO, NFT, DEFI also has multiple cross-chains that expand the ETH ecosystem. What keeps BTC so high? If we speak openly, then BTC has no role in itself, it's just a dummy compared to other technologies on the other crypto P.S. This is my opinion I just want to know Some altcoins are ideas that have been created by sathosi, you can see ICO because projects need funds to develop projects, one thing I want to know from you, has Bitcoin developers ever done ICOs to develop Bitcoin's first Blockchain, I don't think so. The price of Bitcoin is increasing because the supply is limited and it costs a lot of money to buy mining equipment, you can't see ETH and other altcoins if Bitcoin is not created. |
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dataispower
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August 13, 2021, 10:41:50 AM |
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Because it has 60% of the entire global market cap, the first in the game, it is most trusted by people altcoins are feeble attempt to solve problems which they are not even consistent with. Bitcoin has a story which is clear and understandable. It doesn't rely on anyone to be used. It is the most available. There is no Centralized Exchange without Bitcoin, almost everything revolves on the existence of Bitcoin on the Blockchain ecosystem. You can get your answer here.
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