Why Bitcoin and not any Altcoin?

[tortic25]

What is your most important pro Bitcoin argument?
We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

My most important Bitcoin argument is PoW because PoW really ensures Bitcoin is safe and can't be attacked very easily, like it is possible for PoS, for example.

There's alot of different reasons

Like others have said it's more of the first move advantage. The same way i hate what Facebook has become, promoting scams, promoted clickbait, dumb tiktoks... I see 20 of these "promoted contents" before i ever see anything from a friend. I think a lot of people have grown tired of facebook.  Look at it this way, Twitter will have "some" of your friends, Reddit "some" etc, etc.  But Facebook will have all.

Bitcoin is the same way, you know that bitcoin will be excepted everywhere, you know all other cryptos are tied with the value of btc.

When crypto just started and there were just a few altcoins, if the transaction fees of btc were higher back then,i think there would have been a good chance ltc replaced btc, but now with hundreds, there isn't going to be a universally agreed upon "better" option.  It would take something 100x better to stand a chance.
So one reason is convenience.

Another is Stability.
If everyone did decide a better primary coin, btc would drastically drop, there are a lot of long term holders making btc somewhat stable, if people realize that their investments could be erased the second a new, better technology came out, then there would be nothing but panic selling.

Another is Distribution, The way btc was distributed before it ever had a value is what makes it fair, All of these new altcoins with presales and premined coins are never going to get the support btc did. bitcoin rewarded the community who had faith in it's value, Not a group of people at the top. I think the most amazing thing about btc, is that the creator hasn't touched or profited off of the coins mined.

Lastly, Function, The purpose of btc is to be a currency. btc's true value is fast global transactions, anonymity, transparency, and decentralization, at a time when banking services like PayPal were king, btc provided what the world needed. And now you have countries with collapsed economies surviving thanks to btc, war torn countries, etc. Those uneducated of crypto think it's a way for shady transactions, money laundering, funding terrorism, but it's so much more than that. It's an equalizer between the powerless and powerful, And i think "PoS" would destroy that. So another reason is why? Speed and lower fees would be nice, but the way btc currently is, they're not huge issues atm. And most altcoins, aren't intended as a "currency" they're assets that provide completely different uses. I don't exactly see other coins such as Ethereum as a "currency" esp not the meme coins.

[legendbtc]

-snip-
Bitcoin keeps having a better Market Cap because it was the original crypto coin, but in the future, that will change.

There will be more and more technological innovations that surpass Bitcoin, not about how fanatical a person is about Bitcoin so as not to see how Altcoin technology is getting better and better.

Up to now, there have been many Altcoins that have superior technological improvements to Bitcoin, but there is one thing that can never be compared to Bitcoin is decentralization. That sets bitcoin apart from the rest of the crypto industry, so to date, no Altcoin has been able to surpass it.

Bitcoin is also under development and several Layer 2 Bitcoin networks have also emerged such as BRC20, Ordinal and most recently the Rune Protocol.
Indeed, sometimes there is a spike in transactions that makes transaction fees very expensive and unreasonable, but it will not always last it will always go down in the end. As in the ERC20 network, it is also sometimes very expensive in some moments.

In my opinion, only LN is layer 2 of bitcoin, while BRC20, RUNE, ODRI...are all just memecoins developed on BTC and they will soon become trash when the bull season ends. For the bitcoin ecosystem, we have projects like babylon, merlin, bitlayer...called layer 2 but everything is just in the development stage and I don't appreciate them.

Regarding bitcoin transaction fees, I don't think they will return to normal anytime soon unless we have some concrete solutions because the memes will continue to be created and the congestion will not stop anytime soon.

Bitcoin remains the parent of all altcoins that appear with the largest market capitalization, so the state of Bitcoin will affect all altcoins.
I'm a Bitcoin holder as well as an altcoin, so I like both to date.

I am also not a bitcoin maximalist but I do not deny that bitcoin will always lead the market and no altcoin can replace or surpass it.



source: X.com

[Iranus]

-snip-

Mine is always unforgettable because this experience of mine happened when I was just starting. Everything I had before was Bitcoin only but because of curiosity I was lured to altcoins, so some of my Bitcoins before were converted to random altcoins and I lost a lot of Bitcoin because those altcoins just dump and became dead but Bitcoin is always there.
That's why I already learned the lesson.

Really - that's a really valuable lesson, but it's a shame that you might get lured into an altcoin that tend to be valuable because of a pump and dump scheme.

Personally I also have a high focus on building my portfolio with bitcoin - but I don't ignore all the potential that altcoin have. Some altcoin are also worth including in an investment portfolio due to their price appreciation potential - but when it come to use cases and decentralization, then bitcoin should be at the forefront.

I have had the same experience years ago, remember the ICO days? I invested in some ICO projects before. I really thought that it will be profitable later on. However, the site was abandoned and no chance of getting back even the coins that I bought. Learned the hard way. I believe a lot of investors lost during ICO days, and a lot of them are now dedicating their resources to bitcoin.

Also, some projects which are offering staking of their tokens. This for me, was another failed venture. The price may be good at the start but most staking projects will decline its value later on. Very few can survive in the trading market.

But besides those millions of failed altcoin projects, we cannot deny the efforts of altcoins such as ETH, BNB, SOL...They still exist and continue to develop further even though many projects have disappeared from the market over the years. Or meme projects like Doge, shiba, they still exist today and we cannot deny their existence.
If we plan to invest for long term and need privacy then bitcoin is the top choice but if we also want to earn high profits in medium to short term, I think investing in some top altcoins is also not very bad. As for new altcoins, they should be avoided or only for those who are adventurous and willing to take risks.

[arwin100]

We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

 

Those altcoins want to be compare to bitcoin because they owner of the project want to divide the attention of the investors then think about that there project is also good alternative to invest.

But some of them failed because they didn't manage to handle well their project since either they scam their investor or didn't follow what they are promising to their investors that's why lots of people leave them then go back to bitcoin since they realize that there's no other altcoin is better than bitcoin.

But for sure we can read a lot of reasons and also its interesting to read peoples argument towards bitcoin and altcoin.

[WatChe]

But for sure we can read a lot of reasons and also its interesting to read peoples argument towards bitcoin and altcoin.

Everyone has its own logic to prefer BTC or alts but for me the first choice of investment is BTC since it's fully decentralized and it's the only coin that drives the crypto market. Alts goes up only if BTC goes up or vice versa, It's better to focus on the power that drives the crypto market rather then alts who are dependent on BTC for price variations. 

[Xcode7]

But besides those millions of failed altcoin projects, we cannot deny the efforts of altcoins such as ETH, BNB, SOL...They still exist and continue to develop further even though many projects have disappeared from the market over the years. Or meme projects like Doge, shiba, they still exist today and we cannot deny their existence.
If we plan to invest for long term and need privacy then bitcoin is the top choice but if we also want to earn high profits in medium to short term, I think investing in some top altcoins is also not very bad. As for new altcoins, they should be avoided or only for those who are adventurous and willing to take risks.

All investments have possible risks that are worth it with possible profits so I think whatever investment choice you should be aware of the risks and possible profits but it cannot be denied that Bitcoin has provided proof that investing in Bitcin is quite safe for the future so that is what makes many people's trust.
For those who invest long term, there are many aspects that must be considered and of all that, Bitcoin has everything that is better than Altcoin, so I think for long term investment there is no other choice than Bitcoin.

[BALIK]

We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

 

Those altcoins want to be compare to bitcoin because they owner of the project want to divide the attention of the investors then think about that there project is also good alternative to invest.

But some of them failed because they didn't manage to handle well their project since either they scam their investor or didn't follow what they are promising to their investors that's why lots of people leave them then go back to bitcoin since they realize that there's no other altcoin is better than bitcoin.

But for sure we can read a lot of reasons and also its interesting to read peoples argument towards bitcoin and altcoin.

Many years ago, there were many projects that liked to compare with bitcoin with the purpose, as you said, of attracting the attention of investors to their projects. But in recent years, I no longer see projects that want to compare to bitcoin, and the majority of altcoin projects today are created to solve different problems. But in the end, all are just false promises in theory, no project can bring real value and gradually disappears after a while.

The failure of altcoins is because they don't really want to create use cases, utilities, and applications that can be brought into the real world. They just want to create hype around it to scam investors and disappear, which is why people gradually get disappointed with altcoins and go back to bitcoin.

[CageMabok]

All investments have possible risks that are worth it with possible profits so I think whatever investment choice you should be aware of the risks and possible profits but it cannot be denied that Bitcoin has provided proof that investing in Bitcin is quite safe for the future so that is what makes many people's trust.
For those who invest long term, there are many aspects that must be considered and of all that, Bitcoin has everything that is better than Altcoin, so I think for long term investment there is no other choice than Bitcoin.

The risk comparison will of course never be the same between one investment and another, such as Bitcoin and altcoins, both of which have different risks and potential profits for a certain period of time. And if you compare Bitcoin investment with altcoins, it is clear that Bitcoin will remain the favorite of many people because apart from being able to see the evidence which is quite clear, there are also several other facts where altcoins in general will not develop well if Bitcoin market conditions are bad, such as in the current example.

Apart from that, altcoins also have the potential to disappear on the market if they are still very new and don't have a strong network or fundamentals as altcoins. Meanwhile, Bitcoin was never like that and is still seen in many markets today so that altcoins are clearly inferior when compared directly with Bitcoin and this of course creates a greater risk if investors invest in altcoins.

[God bless u]

What is your most important pro Bitcoin argument?
We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

My most important Bitcoin argument is PoW because PoW really ensures Bitcoin is safe and can't be attacked very easily, like it is possible for PoS, for example.

I think Bitcoin is safe to invest from both security point of view and investment point of view. I have seen people investing in Bitcoin and then getting the profit that they want. Altcoins are also good but they are more volatile then Bitcoin.

Bitcoin can make you wait for long but it will ensure you some very good profits. Blockchains have been hacked and we have been hearing it for some time but Bitcoins are the most safest amongst all of them.

[BitGoba]

What is your most important pro Bitcoin argument?
We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

My most important Bitcoin argument is PoW because PoW really ensures Bitcoin is safe and can't be attacked very easily, like it is possible for PoS, for example.

Bitcoin was created with the goal of establishing neutral and decentralized money to protect us from centralized fiat systems. The creator of Bitcoin left a message in the first block (the Genesis block), quoting a headline from The Times that read 'Chancellor on brink of second bailout for banks.' During the 2008 financial crisis, central banks injected massive amounts of newly printed money into circulation to bail out banks. The price of this rescue was paid by ordinary people like you and me, as our hard-earned money and savings lost value. The value was lost because money created out of nothing devalued our hard-earned money. Injecting money into circulation in this manner causes inflation, which we experience as a decrease in purchasing power. It's clear to everyone that €100 today can buy much less than it could a year ago. That's inflation, or a hidden tax that we all collectively pay.

That was the motivation behind creating Bitcoin.

On the other hand, with altcoins, the motivation was for their owners to enrich themselves by plagiarizing Bitcoin and selling a similar story. Analyzing all these figures like Charlie Lee, creator of Litecoin, Vitalik Buterin and Joseph Lubin, creators of Ethereum, Justin Sun, creator of Tron, etc., these are all individuals of low moral and ethical standards.

Another crucial point is that Bitcoin is widely decentralized. Decentralization primarily means that no single participant in the network has the ability to impose or change the rules by which the network operates independently. Network governance is decentralized, and the power to manage is distributed among all participants in the network. This is a fundamental characteristic of the Bitcoin network: no single individual, company, or government of any state can 'take over' the network and unilaterally change its rules, unlike other cryptocurrencies ('shitcoins') where companies and developers who created those cryptocurrencies control them and can change them as they wish, as Vitalik Buterin and the ETH Foundation do. They have already changed ETH's monetary policy seven times. ETH resembles more a fiat system where a small group of people, akin to a central bank's board, prints new money.

[kryptqnick]

I don't know any altcoins that are better than Bitcoin. The question is, better in what? Are they more decentralized? I don't think so. Are they more reliable in the long run, or more secure due to a strong community and high market capitalization? Not really. Are transactions cheaper and faster? Perhaps they are, so that could be an argument.
Bitcoin is strong, the market cap is huge, it's a PoW currency, and it's been #1 since it appeared. That's why I choose Bitcoin over any other altcoin.

[Z_MBFM]

To be honest, Bitcoin enjoys first mover advantage. Because we have many altcoins available in the market which are technically more advanced than Bitcoin. But no altcoins was able to move out Bitcoin from the first position.

I believe the biggest strength of Bitcoin is its community. No other coins have such a strong community like Bitcoin. The community is global in nature. If some old coin is able to pull together a community bigger than Bitcoin, will surely over take Bitcoin. But for now, I do not see it happening!

Yes it is true that there are many altcoins currently in the market which are technically much better than Bitcoin but people don't trust other coins like Bitcoin and usually don't invest large amounts in them like they do in Bitcoin.  Bitcoin was the first crypto coin to launch coins using cryptography.  And Bitcoin's aim was to launch a p2p cash system and they did it successfully. Bitcoin has a lot of real value and there is a guaranteed return on investment, so everyone is looking at Bitcoin more than other coins.

[MinoRaiola]

It started with Bitcoin and Bitcoin is the number 1. Maximally decentralized and the users control the development. If a cryptocurrency is recognized as a legal payment in a country, then it will be bitcoin first. I would be surprised if it is any other currency. Altcoins are mostly under the control of the developers and no matter who has the power, it can be used negatively and that is not the case with bitcoin. Many (or almost all) Altcoins are only used for speculation or gambling from a financial point of view, but people really want to own bitcoin and if you are in the club of 1BTC, then you know that there are not more than 21 million others who have the same status, or even if there are only 15 million people in the world.

[AprilioMP]

Why Bitcoin and not any Altcoin?

What is your most important pro Bitcoin argument?

For more technical answers, some have answered. Why Bitcoin and not Altcoin? Because the amount of Bitcoin supply cannot be manipulated from 21 million created. For Altcoin, it can be manipulated by changes in the amount of supply.
In addition, because of the value of Bitcoin.

[Pandu Geddon]

Yes it is true that there are many altcoins currently in the market which are technically much better than Bitcoin but people don't trust other coins like Bitcoin and usually don't invest large amounts in them like they do in Bitcoin. 

people who invest have their own enjoyment. there are those who really like to invest long term in Bitcoin. but there are also those who like to take short-term profits from altcoins.
There are even those who like new altcoins, join the sales and gamble there for profits when the coins start trading.

but I'm sure there are more who will eventually return to Bitcoin investments. I experienced this myself, when I first got bored with Bitcoin price movements which were relatively more stable with little movement. I decided to switch to the top market altcoin. indeed make a profit, but there is anxiety or fear regarding altcoin price fluctuations which tend to be faster. I decided to go back and be more patient with my Bitcoin.

[BitGoba]

Yes it is true that there are many altcoins currently in the market which are technically much better than Bitcoin but people don't trust other coins like Bitcoin and usually don't invest large amounts in them like they do in Bitcoin. 

people who invest have their own enjoyment. there are those who really like to invest long term in Bitcoin. but there are also those who like to take short-term profits from altcoins.
There are even those who like new altcoins, join the sales and gamble there for profits when the coins start trading.

but I'm sure there are more who will eventually return to Bitcoin investments. I experienced this myself, when I first got bored with Bitcoin price movements which were relatively more stable with little movement. I decided to switch to the top market altcoin. indeed make a profit, but there is anxiety or fear regarding altcoin price fluctuations which tend to be faster. I decided to go back and be more patient with my Bitcoin.

There is so much misunderstanding about Bitcoin. Bitcoin is not an investment; Bitcoin is a hard digital form of money. You can't invest in money; money is saved. Investing is a product of the fiat system. If you have fiat money, it loses value day by day due to inflation, forcing you to invest anywhere to try to beat inflation, which can be up to 10% annually. It's very difficult to beat inflation. Investing is gambling. If you use Bitcoin as your primary money, you don't need to invest and gamble because Bitcoin is a hard form of money that will preserve your purchasing power over time.

[kramat]

Bitcoin is best one the altcoin. It help to future investment and savings. Bitcoin price stady to increase the price. It not easy to guss the price any time to hit the price. So bitcoin is king of altcoin. That the reason most of the people like the bitcoin.

[domiin]

To be honest, Bitcoin enjoys first mover advantage. Because we have many altcoins available in the market which are technically more advanced than Bitcoin. But no altcoins was able to move out Bitcoin from the first position.

I believe the biggest strength of Bitcoin is its community. No other coins have such a strong community like Bitcoin. The community is global in nature. If some old coin is able to pull together a community bigger than Bitcoin, will surely over take Bitcoin. But for now, I do not see it happening!

If any coin has not been able to replace it from first position, it does not mean it will not happen in future also.

[Taskford]

Yes it is true that there are many altcoins currently in the market which are technically much better than Bitcoin but people don't trust other coins like Bitcoin and usually don't invest large amounts in them like they do in Bitcoin.  

people who invest have their own enjoyment. there are those who really like to invest long term in Bitcoin. but there are also those who like to take short-term profits from altcoins.
There are even those who like new altcoins, join the sales and gamble there for profits when the coins start trading.

but I'm sure there are more who will eventually return to Bitcoin investments. I experienced this myself, when I first got bored with Bitcoin price movements which were relatively more stable with little movement. I decided to switch to the top market altcoin. indeed make a profit, but there is anxiety or fear regarding altcoin price fluctuations which tend to be faster. I decided to go back and be more patient with my Bitcoin.

There is so much misunderstanding about Bitcoin. Bitcoin is not an investment; Bitcoin is a hard digital form of money. You can't invest in money; money is saved. Investing is a product of the fiat system. If you have fiat money, it loses value day by day due to inflation, forcing you to invest anywhere to try to beat inflation, which can be up to 10% annually. It's very difficult to beat inflation. Investing is gambling. If you use Bitcoin as your primary money, you don't need to invest and gamble because Bitcoin is a hard form of money that will preserve your purchasing power over time.

Actually this should be the first thing people should think that bitcoin is digital money which is their alternative to use for transaction.

But in present times there are to many people came into the scene because they also think that bitcoin is good investment due to its volatility. Then can't blame people to ride with its activity since somehow its good to earn if you could able to ride with current happenings in the market. But what I really like to happen is people should think that if they want to acquire bitcoin they should aim for long term since they are just inserting their self into a risky situation if they aim for short term. Also for sure people know about inflation thing in fiat but majority decide to go with bitcoin as investment since they see a good potential to earn more with this asset compare to other available investments they know.

[mirakal]

Why Bitcoin and not any Altcoin?

If you are in the look of profit, you will only buy valuable assets rather than buy less profitable assets. Why choose bitcoin? This is because we know that this won't fail our expectations, unlike altcoins which is certainly a factor to consider when investing.

To ask why a lot of investors lose money is because they choose the wrong projects. It is only a fool people buy shitcoins and we know that the majority of altcoins are created for scams. That is why if we want to have a safe investment (at least), though it never guarantees 100% at least bitcoin is worth enough to risk than any coins in the crypto market.