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Author Topic: What are the comparative advantage of Bitcoin over other blockchains?  (Read 265 times)
Nrcewker
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June 12, 2022, 02:18:48 AM
 #21

Bitcoins at first unique due to it’s large marketcap.
Bitcoins are most secure if you compare it with others.
Not only secure, but also due to the decentralised nature of Bitcoins, it can’t be controlled by any government, therefore allowing it’s user to transact freely and independently.
At last Bitcoins transactions are anonymous, for which it allows safe transactions.
These are just the basic features and for these features Bitcoins have advantages over other Blockchains while comparing.

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June 12, 2022, 04:48:02 AM
 #22

I don't think something like the ability to execute smart contracts is necessarily a bad thing.

Yep. More functionality means more opportunities for growth, but at the same time increased chances of things that can go wrong. In the end it's pretty neutral and will totally depend on the person if he/she's allocating for higher potential gains vs lower but safer gains.

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June 12, 2022, 05:01:24 AM
 #23

It is not the first digital currency but the first decentralized workable and the founder of solution to double-spending. That's one thing you can describe Bitcoin, and that's just the first achievement. It didn't take over anything because it was the first and still leads the competition between cryptocurrencies.

There are a lot of blockchain projects in development with good use cases, but it's still going to be a fight to take over BTC. Imagine, ETH has a lot of excellent projects under its belt, and it still hasn't overtaken it.

I think the thing you need to think about it is that BTC has become a store of value asset and not so much as a payment tool. I think that's the main difference when it comes to other cryptocurrencies.

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June 13, 2022, 06:48:10 AM
 #24

Bitcoins at first unique due to it’s large marketcap.
Yee, it is the first as it has the largest marketcap

Bitcoins are most secure if you compare it with others.
Yes, it has the strongest blockchain with the highest hash generation.

Not only secure, but also due to the decentralised nature of Bitcoins, it can’t be controlled by any government, therefore allowing it’s user to transact freely and independently.
Not controlled by centralized body like Vitalik Buterin or Do Kwon and other altcoins that still have a centralized developers.

At last Bitcoins transactions are anonymous, for which it allows safe transactions.
Bitcoin transaction is not anonymous, it is pseudonym. The transaction is transparent on blockchain, but can not be linked to people's identity if privacy is maintained.

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June 13, 2022, 07:08:41 AM
 #25

I don't think something like the ability to execute smart contracts is necessarily a bad thing.

Yep. More functionality means more opportunities for growth, but at the same time increased chances of things that can go wrong. In the end it's pretty neutral and will totally depend on the person if he/she's allocating for higher potential gains vs lower but safer gains.

Higher potential goal is the altimate. So what are the increased chances of things going wrong?

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