The most unique coin.

[tromp]

Bitcoin is certainly unique in being the first cryptocurrency.

But other coins can have unique qualities that Bitcoin can never adopt.

One such quality is simplicity. Although Bitcoin may be far less complex than some other chain like Ethereum, it still contains a nontrivial amount of complexity in itself, as witnessed by the over 10,000 lines of code in libbitcoin-consensus.
Learning all the Bitcoin consensus rules in detail is quite a challenge, one that not many people have undertaken.
A lot of complexity resides in its Bitcoin Script language, even though none of that is needed to support
the vast majority of transactions. Even things like multisig, atomic swaps, discreet log contracts, and bidirectional payment channels can be implemented with just Schnorr signatures and timelocks.
Consensus rules can only ever grow in complexity, since they must be used to verify the full transaction history.

Another such quality is fair distribution. While Bitcoin had a relatively fair one, with no premine, it still did not decentralize wealth as much as one might like. Or rather, as future generations might like, since each successive generation only gets to mine 1/32 time as much as the previous one.
Of course, the huge advantage given to early miners/adopters, and lack of dilution, is great for speculation. But perhaps less so for actual use as currency.

Only one cryptocurrency combines a unique focus on simplicity with a uniquely fair coin distribution of 1 coin per second forever.

It also happens to feature a unique spam resistance; only a few bytes of arbitrary data can be inscribed into the chain with each transaction.

Of course, its uniquely high dilution (in initial decades) also make it uniquely uninteresting for the readers in this forum, that are almost exclusively interested only in speculation.

[1714602448]

1714602448

[Coin_trader]

Bitcoin is certainly unique in being the first cryptocurrency.

But other coins can have unique qualities that Bitcoin can never adopt.

It’s true that new altcoins can have a unique feature that Bitcoin can’t have because it’s already developed but other altcoin can’t copy the Bitcoin uniqueness which is the most important in cryptocurrency which is the real decentralization.

No coins can achieve it because all of them has a centralized control over the chain through the team that hold most of the coin supply which affects the voting for the development. Most of the project that has a DAO feature is just lying about complete decentralized mechanisms while the team itself has the huge voting power including other entities which invested heavily paying the team huge some of money during private investment.

[mk4]

But other coins can have unique qualities that Bitcoin can never adopt.

One such quality is simplicity. Although Bitcoin may be far less complex than some other chain like Ethereum, it still contains a nontrivial amount of complexity in itself, as witnessed by

Is there even a cryptocurrency outside of stablecoins(some even debate that it's not a "cryptocurrency") that is simpler than Bitcoin? I don't think it gets any simpler than this.

Another such quality is fair distribution. While Bitcoin had a relatively fair one, with no premine, it still did not decentralize wealth as much as one might like. Or rather, as future generations might like, since each successive generation only gets to mine 1/32 time as much as the previous one.

I don't think decentralizing wealth was the plan nor is possible in the first place. The most we can have is equal opportunity; fair distribution of wealth is a pipe dream.

[tromp]

No coins can achieve it because all of them has a centralized control over the chain through the team that hold most of the coin supply which affects the voting for the development.

With 100% of coins being mined, and difficulty starting sky high, "the team" can do no better than mine like others, or buy on the open market like others.
PoW coins have no voting for development anyway. Only non-controversial consensus changes should be made, just as with bitcoin.

Is there even a cryptocurrency that is simpler than Bitcoin? I don't think it gets any simpler than this.

It can get simpler: https://bitcointalk.org/index.php?topic=5309951.0

The most we can have is equal opportunity

Exactly; and a fixed reward, like one coin per second forever, is the most equal of opportunities, even across generations.

[Belarge]

It’s true that new altcoins can have a unique feature that Bitcoin can’t have because it’s already developed but other altcoin can’t copy the Bitcoin uniqueness which is the most important in cryptocurrency which is the real decentralization.

No coins can achieve it because all of them has a centralized control over the chain through the team that hold most of the coin supply which affects the voting for the development. Most of the project that has a DAO feature is just lying about complete decentralized mechanisms while the team itself has the huge voting power including other entities which invested heavily paying the team huge some of money during private investment.

We can be in full control and not also exhibits the evidence required because we're facing FUD which have attached most traders to be relenting. We have huge goals to accomplish this season, only finding important means to enact the big winnings this season. What are you trying to put up in the portrait? There's no significance altcoins can make other trends in the market narratives, unlike Bitcoin that have always been there to apprehend the bull and bear season in crypto, bitcoin is regarded as the top project in the market.

[simons_js]

It seems that before bitcoin there were other coins, but the concept was not as good as bitcoin so they failed. The most unique coin is just bitcoin, the rest are just imitations of bitcoin. Concept and uniqueness are only important to increase public trust so that coins can sell on the market. So the most important thing is people's trust in coins

I think so, and maybe my opinion is wrong

[MemurKafasi]

Nobody trusts a coin with failed trasnactions and full of wallet bugs since genesis block. All wallet developers left GRIN.

[Denamen]

I don't think it is the most unique coin, but I think it has something unique. That's Monero, a coin that has private transactions so no one can track you. It has pros and cons, but for me, I like it.

[oryhp]

Bitcoin is a new monetary experiment with a predictable and hard-cap max supply. It's great and full of innovation, but it's not the only experiment that's new and worth trying.

with a uniquely fair coin distribution of 1 coin per second forever.

An emission equal across time creates a time-cap max supply which is predictable and new too. It's also a lot simpler and more intuitive because it does away with halvings.

A lot of complexity resides in its Bitcoin Script language

I think a big drawback here is the social side of it. Everyone's focused on experiments that improve the system by adding new op codes and very few try to improve it under today's constraints. This in turn creates politics and conflicts around which op codes should be added which I don't find particularly productive.

[tromp]

Nobody trusts a coin with failed trasnactions and full of wallet bugs since genesis block. All wallet developers left GRIN.

Nobody trusts a poster contradicting himself.

Over the years that have passed Grin has made many innovations and improved itself.
now has multiple wallets working properly.

[Frankolala]

Bitcoin is more unique than altcoins that were created before or recently. It is not a most to learn everything about bitcoin because it is complex. So what you need to learn is your area of interest in bitcoin and if you want to go further, you are free. The complexity is what makes it unique because it is decentralized.

Simplicity is good, but when it is simple and centralized, it makes it not safe for one to rely on for privacy. It is not the simplicity of a coin that matters, but the durability and and how long it will survive in the market is what matters.

[MemurKafasi]

Nobody trusts a coin with failed trasnactions and full of wallet bugs since genesis block. All wallet developers left GRIN.

Nobody trusts a poster contradicting himself.

Over the years that have passed Grin has made many innovations and improved itself.
now has multiple wallets working properly.

Did the ironbelly and grin++ developers left or not recently?
Core wallet not working properly.

We are fooled.

Everybody faces wallet problems.

[Sayeds56]

It’s true that new altcoins can have a unique feature that Bitcoin can’t have because it’s already developed but other altcoin can’t copy the Bitcoin uniqueness which is the most important in cryptocurrency which is the real decentralization.

No coins can achieve it because all of them has a centralized control over the chain through the team that hold most of the coin supply which affects the voting for the development. Most of the project that has a DAO feature is just lying about complete decentralized mechanisms while the team itself has the huge voting power including other entities which invested heavily paying the team huge some of money during private investment.

Indeed, Bitcoin is truly decentralized with limited supply and these unique features, set it apart from other cryptocurrencies. You have raised an important about challenge for the crypto enthusiasts to meet the same level of decentralization in other cryptocurrencies. It is also true that some altcoins may have unique features but most of the altcoin struggle to replicate the same level of decentralization due to various reasons, including control over coins supply and decision making processes, these are the main hurdles towards achieving the true decentralization.

[Sophokles]

If thousands of lines of code can make bitcoin complex, then all the altcoin are more complex than bitcoin. The consumer doesn't see the hard work behind the product. A product's simplicity lies in how easy it is for the consumer to consume. From that perspective, bitcoin is the simplest of them all. Your way of thinking is wrong in my opinion. Bitcoins tokenomis, emission, and creation everything is simple and hasn't changed at all since its creation. Only a few pages of code won't make a crypto currency complex, as its way of adoption does.

[Husires]

The Bitcoin white paper did not talk about simplicity, long-term investment, fair distribution of wealth, and decentralization of wealth. On the contrary, in the early years, many thought it was a dead project, especially in 2013. Bitcoin came to be an alternative for those who do not want to trust banks or any third party to conduct Banking transactions and its philosophy came after what happened in the year 2008 and is an extension of the efforts of many ideas, but not all of them included the concepts of fair distribution of wealth.
For simplicity, what are the difficulties in managing the SPV wallet that were mentioned in the white paper? you need is to download a program and save 12 words on a sheet of paper.

[evichi]

The most unique coin, in my opinion is Bitcoin. Bitcoin has stood the test of time not just because it is the first cryptocurrency, mainly because of its design and technology - decentralization, security, and other unique features. The technology has made it to receive wide adoption which is clearly noticeable as exemplified on the Coinmaketcap (Bitcoin is the first to be listed on Coinmrketcap). For Bitcoin to have such massive acceptance since its invention till date, shows that it is unique. For me, Bitcoin is the most unique coin.

[Dailyscript]

Of course who wouldn't choose bitcoin. It has been trusted by millions and big companies has invested in it. It was the first cryptocurrency to be approved on ETFs, it is most traded cryptocurrency of all time and lastly it is the only coin one can be comfortable to hold for years because it has great potential to give good profit if it is hold for long.

[Bitco55]

Bitcoin is certainly unique in being the first cryptocurrency.

But other coins can have unique qualities that Bitcoin can never adopt.

One such quality is simplicity. Although Bitcoin may be far less complex than some other chain like Ethereum, it still contains a nontrivial amount of complexity in itself, as witnessed by the over 10,000 lines of code in libbitcoin-consensus.
Learning all the Bitcoin consensus rules in detail is quite a challenge, one that not many people have undertaken.
A lot of complexity resides in its Bitcoin Script language, even though none of that is needed to support
the vast majority of transactions. Even things like multisig, atomic swaps, discreet log contracts, and bidirectional payment channels can be implemented with just Schnorr signatures and timelocks.
Consensus rules can only ever grow in complexity, since they must be used to verify the full transaction history.

Another such quality is fair distribution. While Bitcoin had a relatively fair one, with no premine, it still did not decentralize wealth as much as one might like. Or rather, as future generations might like, since each successive generation only gets to mine 1/32 time as much as the previous one.
Of course, the huge advantage given to early miners/adopters, and lack of dilution, is great for speculation. But perhaps less so for actual use as currency.

Only one cryptocurrency combines a unique focus on simplicity with a uniquely fair coin distribution of 1 coin per second forever.

It also happens to feature a unique spam resistance; only a few bytes of arbitrary data can be inscribed into the chain with each transaction.

Of course, its uniquely high dilution (in initial decades) also make it uniquely uninteresting for the readers in this forum, that are almost exclusively interested only in speculation.

I don't think there is any coin that is way more unique than Bitcoin is. Yes, it may lack features that some altcoins have and cannot be edited or worked on but that is in fact it's the best feature. Imagine what would have happened if Bitcoin was something that could easily be changed or edited by young a few keys on the keyboard, there would have been no foundation for this industry in fact. That's why no one can control it. Satoshi already thought of lots of probabilities before bringing this out to the public. Basically, what I'm trying to say is Bitcoin is the most unique coin.

[Bureau]

I don't think there is any coin that is way more unique than Bitcoin is. Yes, it may lack features that some altcoins have and cannot be edited or worked on but that is in fact it's the best feature. Imagine what would have happened if Bitcoin was something that could easily be changed or edited by young a few keys on the keyboard, there would have been no foundation for this industry in fact. That's why no one can control it. Satoshi already thought of lots of probabilities before bringing this out to the public. Basically, what I'm trying to say is Bitcoin is the most unique coin.

More than a decade back when Bitcoin was introduced to the worl it is unique to everyone. In today's time it is still unique in its own ways but there are other altcoins that have thier unique identity. Let's take an example of Dogecoin, it was the first meme coin which makes it unique as when it was launched it was different from others at that time. Now we have so many meme coins.

[oryhp]

If thousands of lines of code can make bitcoin complex, then all the altcoin are more complex than bitcoin.

This topic is about the simplicity of system design, not about the UX which is also important, but an entirely different thing.

Bitcoins tokenomis, emission, and creation everything is simple and hasn't changed at all since its creation.

The question is, could it be simpler? And today we know the answer is affirmative.

Satoshi already thought of lots of probabilities before bringing this out to the public.

Satoshi being brilliant doesn't mean he knew everything. He discovered a new space but didn't research all of it because he was aware of the analysis paralysis problem and had to start with something that wasn't the best system possible, but was good enough.