Bitcoin Will Outlive Your Favorite Crypto - Here Is The Hidden Reason Why

[Itz-prisigold]

To be honest, have you ever notice that every few months there is a "new crypto" that assume to be faster, more affordable or more wiser than bitcoin. They show all this luxurious aspect, with a lot of hype blah blah blah blah. Then maybe a year later, when you check again and all you get is silence. Price dumps, devs disappear and the hype fades.

On the other hand Bitcoin just keeps running. No promo squad, no CEO, no promises and no influencing - just blocks being minded every 10 minutes, same old way on daily basis.

So, what is really keeping Bitcoin while others come and go?

1. Bitcoin doesn't rely on trust - it depends on rules.

Every other coin still has some team, foundation or some leader that everyone follows. But Bitcoin? Nah. It's runs on math, code and consensus. No one can just wake up one morning and start changing the rules. Even developer can't push anything unless everyone agrees. That is why Bitcoin keeps surviving drama, bans and FUD.

2. The Incentives are perfectly balanced

Bitcoin design nailed it.
Miners are paid enough to stay committed, user hold it because it protects their value and developers build on it because it's neutral and open.
That balance is something most altcoin can never Figure out. It's either they pay too much (inflation kills them) or to little (network dies).

3. Bitcoin's simplicity is it's power.

Many may think Bitcoin is old or outdated teach. But that is actually a good thing, it's simple because it's meant to last.
It does not try to do everything - just store value and send it safely. Every new feature Bitcoin adds (like Taproot or lightning) goes through years of review before activation. Slow=safe.

4. You can copy the code , not the community.

People have copied Bitcoin codes several times, but no one can copy it's network effect or decentralization.
You can't fake 16 years of uptime, decentralization and trust built by millions of users around the world. New coins might be shiny, but Bitcoin has history - and in crypto that is gold.

Conclusion.

Bitcoin may not be the quickest or budget friendly, but that's the most trustworthy investment platform. Bitcoin is the only one that does not need hype to survive.
Every so called "Bitcoin killer" ends up providing the opposite. Bitcoin was not built on hype, it was built on rules. That is the hidden reason why Bitcoin will Outlive Your Favorite Altcoin. Because trust always fades, team will disappear but rules backed by math and consensus don't.

[Alpen]

Bitcoin has one obvious and critical vulnerability: its heavy reliance on mining, which is increasingly becoming centralized in the UnitedS. Most other countries either do not accept miners or leave them in a semi-legal gray area.

The real danger will come when the Democrats return to power in the US. They won't just impose heavy taxes on miners; they will also likely attempt to pass laws requiring the verification of all transactions that pass through US-based nodes.

Add to this the fact that mining is largely unprofitable. According to a recent VanEck report, the total debt of mining companies has exploded from ~$2.1 billion to ~$12.7 billion in just 12 months. This concentration of an unprofitable industry in one country is a huge systemic risk

[Itz-prisigold]

Bitcoin has one obvious and critical vulnerability: its heavy reliance on mining, which is increasingly becoming centralized in the UnitedS. Most other countries either do not accept miners or leave them in a semi-legal gray area.

The real danger will come when the Democrats return to power in the US. They won't just impose heavy taxes on miners; they will also likely attempt to pass laws requiring the verification of all transactions that pass through US-based nodes.

Add to this the fact that mining is largely unprofitable. According to a recent VanEck report, the total debt of mining companies has exploded from ~$2.1 billion to ~$12.7 billion in just 12 months. This concentration of an unprofitable industry in one country is a huge systemic risk

You made a valid point, mining centralization is something people need to keep an eye on, but I don't think it's really a big threat as people are making it sound. Mining focus can switch pretty quickly based on the law, energy tariffs or policy changes. We all have seen this before when China banned mining back in 2021, people was saying that Bitcoin will go down, then what happened? Few months later, the mining power recovered strongly when miners moved to other countries.

So if U.S. actually go that direction, it will just play out the same way, Miners will just move again. Bitcoin is not tied to any single country- it moves wherever it will be welcome.

As for the mining debt part, that is not Bitcoin problem, that's more of a business/company issue. Bitcoin runs on its own, not on any company, Even if a few miners can’t keep up, Blocks keep getting mined every 10 minutes like clockwork, like nothing actually happened.

So I get your point, but Bitcoin has gone through worse situation before and always came out stronger. That's exactly why people still have some much hope much in it.

[pooya87]

To be honest, have you ever notice that every few months there is a "new crypto" that assume to be faster, more affordable or more wiser than bitcoin.

Honestly I haven't noticed that ever since 2017 mega hype. Nowadays it seems to me like they rarely start such fake advertisement.

No promo squad, no CEO, no promises and no influencing - just blocks being minded every 10 minutes, same old way on daily basis.

That's a promise itself though and the reason why bitcoin keeps growing is because it keeps those promises. Promises such as being decentralized, having an immutable blockchain, being censorship resistance, having a capped supply,.... all of these are Principles that were real and were kept intact.

Conversely, the reason why altcoins don't succeed is because they give promises they cannot keep. For example ethereum is centralized and has a mutable blockchain while it was not promised to be like that when they were pumping it back in 2017.

Many may think Bitcoin is old or outdated teach. But that is actually a good thing, it's simple because it's meant to last.

Does anybody really think that? The shitcoin advertisers created this fake narrative to sell their garbage as the "new tech". Otherwise what Bitcoin introduced is still brand new and will only become old if a newer thing comes along which it hasn't in the past 16 years.

Bitcoin may not be the quickest

That's another narrative that shitcoin advertisers have pushed a lot. Bitcoin is the fastest payment system in existence. The shitcoins that have shorter time between their blocks don't provide the same level of security. To put simply sometimes 1 confirmation on your bitcoin tx (10 min on average) is equal to thousands of confirmations on a shitcoin chain (hours) and you end up waiting more for "settlement".

[MusaMohamed]

Bitcoin may not be the quickest

Quickest means nothing if your transactions can be reversed, rolled back like it is possible with altcoin blockchains.

That's another narrative that shitcoin advertisers have pushed a lot. Bitcoin is the fastest payment system in existence. The shitcoins that have shorter time between their blocks don't provide the same level of security. To put simply sometimes 1 confirmation on your bitcoin tx (10 min on average) is equal to thousands of confirmations on a shitcoin chain (hours) and you end up waiting more for "settlement".

This is true and this following website has figures to prove this.
https://howmanyconfs.com/

1 hour of Bitcoin blockchain and a Bitcoin transaction will be equal to about 9 hours 23 minutes with Dogecoin blockchain, 8 days and 2 hours with Bitcoin Cash blockchain, 10 hours with Litecoin blockchain and so on.

[AVE5]

To be honest, have you ever notice that every few months there is a "new crypto" that assume to be faster, more affordable or more wiser than bitcoin. They show all this luxurious aspect, with a lot of hype blah blah blah blah. Then maybe a year later, when you check again and all you get is silence. Price dumps, devs disappear and the hype fades.

The ideal of DeFi was inspired and inclined with the concept of self custodial. Every valuable potentials characters including PoW and the edge of potential values as digital value to hedge against inflations are efficiently computed in the consensus of decentralization.
Bitcoin has proven it worth in the very genuine and tangible ratio and has solely been reliable and worthwhile using all the while. What I can't tell is the essence of the other cryptocurrencies trying to mimick it concept.

let's also not be deceived with how most of these mimicking coins tends to be manipulated by the developers just to attract investors interest with the strategies of hyping the coins for marketing strategies while adoptors may be at utmost risk of loosing their funds to worthless projects that pretends to be like bitcoin with the unnecessary exemptional tricky coin qualities.

[nemesis_incarnate]

Hey, I think your comment is a bit off-topic. This section is for Bitcoin discussions, not for promoting services. Please try to stay relevant to the topic next time. And please don't post spam here

Just report it to the mods, don't go in discussions with him.

[ColdLava40]

This isn't new. Many of these new crypto projects try to promote their tokens by claiming to have a much better system than Bitcoin. The truth is, none of them can compare to it.

Bitcoin is built on trust. Its survival doesn't depend on any single person. Instead, it's strengthened by a community that believes in decentralization and a financial system that exists outside of government control.

Haters can criticize it all they want, but their words won't affect Bitcoin. It has already proven itself and doesn't need anyone to promote it. Only someone completely unaware of its value would fail to see the potential Bitcoin holds.

[cr1776]

Bitcoin has one obvious and critical vulnerability: its heavy reliance on mining, which is increasingly becoming centralized in the UnitedS. Most other countries either do not accept miners or leave them in a semi-legal gray area.

The real danger will come when the Democrats return to power in the US. They won't just impose heavy taxes on miners; they will also likely attempt to pass laws requiring the verification of all transactions that pass through US-based nodes.

Add to this the fact that mining is largely unprofitable. According to a recent VanEck report, the total debt of mining companies has exploded from ~$2.1 billion to ~$12.7 billion in just 12 months. This concentration of an unprofitable industry in one country is a huge systemic risk

You hit the nail on the head here.  The risk is that an authoritarian socialist/communist (such as the potential future mayor of NYC!) comes to power and then mining will end up having to flee.  I am quite concerned about your point above.

[BIT-BENDER]

Many people's favorite Crypto-currency Bitcoin so I don't know who you are referring to.
Also some people may for whatever reason(mainly because they want a cheaper alternative)choose to have a favorite Crypto-currency that is not Bitcoin but still they understand that Bitcoin is safer, better than what they like.
And the word "Hidden" is funny, you must think you have discovered another planet.

[nemesis_incarnate]

Many people's favorite Crypto-currency Bitcoin so I don't know who you are referring to.
Also some people may for whatever reason(mainly because they want a cheaper alternative)choose to have a favorite Crypto-currency that is not Bitcoin but still they understand that Bitcoin is safer, better than what they like.
And the word "Hidden" is funny, you must think you have discovered another planet.

Yep. Any coin lacks something BTC has.

Surely, we can nitpick and find some coins that clear the gaps that BTC may have without layers and LN, but in general, BTC is still superior and truly decentralized 

[Dogedegen]

You are missing the word governance in the balance of powers. Bitcoin has a very unique governance that formed naturally. Shitcoins try to artificially recreate it but it does not work.

4. You can copy the code , not the community.

People have copied Bitcoin codes several times, but no one can copy it's network effect or decentralization.
You can't fake 16 years of uptime, decentralization and trust built by millions of users around the world. New coins might be shiny, but Bitcoin has history - and in crypto that is gold.

The community is second, the security of the system is first. The security can not be copied in any way, so there is no way to create another Bitcoin. Often those that don't understand the value of bitcoins are those who don't understand this fact.

Yep. Any coin lacks something BTC has.

Surely, we can nitpick and find some coins that clear the gaps that BTC may have without layers and LN, but in general, BTC is still superior and truly decentralized 

It is called there is no free lunch. Any coin that claims to clear some gaps is one that has made a significant tradeoff in something. Just look at the system requirements to run a full node on Ethereum or Solana and that should answer the question. Because this is a truth that they want to hide from others they misdirect or downplay its significance. Solana and Ethereum are closer to PayPal than they are to Bitcoin.

[livingfree]

4. You can copy the code , not the community.

People have copied Bitcoin codes several times, but no one can copy it's network effect or decentralization.
You can't fake 16 years of uptime, decentralization and trust built by millions of users around the world. New coins might be shiny, but Bitcoin has history - and in crypto that is gold.

They did and even forked it.

But where are the most of those projects that have copied, named after and then reproduce it as if people are going to choose it?

Most of them have died already, there are still some few left remaining and maybe those are the real survivors. And with bitcoin, the real one, its blockchain can't be modified and the community has becoming even greater and stronger.

[_BlackStar]

Bitcoin's decentralization is what makes it last longer than centralized altcoins.
I don't know anyone who can guarantee that bitcoin won't technically fail in the future - of course we all worry about that here. Not absolutely safe from failures - but bitcoin looks set to live longer given its improving economic growth.

Growing adoption and increasingly friendly government policies have led market players to start considering Bitcoin in their businesses. Bitcoin is becoming accepted as a means of payment - its use cases are growing, and we all know that institutional investors are also interested in getting involved.

[coolcoinz]

You hit the nail on the head here.  The risk is that an authoritarian socialist/communist (such as the potential future mayor of NYC!) comes to power and then mining will end up having to flee.  I am quite concerned about your point above.

IMO we're slowly moving towards a visible division in the US. Remember when the Biden administration wanted to ban mining on false claim that it's bad for environment and destabilizes the grid, causing blackouts? They even held hearings at the Congress where a guy from a power company said that miners do the opposite, helping them stabilize the grid in times of low demand.
Anyway, some states immediately voted to restrict mining, like NY, while Arizona and Texas invited miners to move there.

I bet that if Democrats come to power they will turn some states against bitcoin, but some will continue to support bitcoin.
We can see a similar division in the rest of the world with UK becoming a socialist Orwellian state with 0 free speech.

[Sticky Bomb]

Every so called "Bitcoin killer" ends up providing the opposite. Bitcoin was not built on hype, it was built on rules. That is the hidden reason why Bitcoin will Outlive Your Favorite Altcoin. Because trust always fades, team will disappear but rules backed by math and consensus don't.

Truth be told, I've been kicked in the ground menu times by Alt coins to have a favorite one. I've none and button is my favorite crypto. Most coins that their team disappear are survive and mentions who are obvious scam and none comes close to Bitcoin. Only illiterates and misinformed newbies would invest much, if at all in New coins shilled all over social media. Trusting a centralized project is rush itself because the success of that project would be revolving around the central entity and it wouldn't do well on the long-run and that's one of bitcoins unique selling point because no one, not even Satoshi himself claims ownership. Its all a community activity and bitcoins success is clearly everyone's responsibility as against other centralized altcoins like Ethereum which uses POS and some entities with higher stakes only have the ability to validate transactions.

[dzungmobile]

Bitcoin has one obvious and critical vulnerability: its heavy reliance on mining, which is increasingly becoming centralized in the UnitedS. Most other countries either do not accept miners or leave them in a semi-legal gray area.

There are many Bitcoin nodes that are run and distributed globally and Bitcoin nodes are not only located in the US. But going miners are everywhere, not only in the US and Bitcoin mining farms run their own full nodes too.

It is unrealistic to think that Bitcoin network will be affected too severely or dead if something bad happens with Bitcoin miners and Bitcoin nodes in the US. The biggest advantage and strength of Bitcoin is its decentralization so that its network is secure, its blockchain and transactions are censorship resistant and irreversible.

[Dogedegen]

They did and even forked it.

But where are the most of those projects that have copied, named after and then reproduce it as if people are going to choose it?

Most of them have died already, there are still some few left remaining and maybe those are the real survivors. And with bitcoin, the real one, its blockchain can't be modified and the community has becoming even greater and stronger.

The reason why they copy the name is because the project is fraudulent and the intentions behind them are malicious. This is true for both Bitcoin Cash and Bitcoin SV. For a project to be successful and objectively valuable, it must fork itself under a new name that is not Bitcoin. If it proves itself without trying to steal some users through name manipulation, then it has some substance behind it and we can check it out.

Bitcoin's decentralization is what makes it last longer than centralized altcoins.
I don't know anyone who can guarantee that bitcoin won't technically fail in the future - of course we all worry about that here. Not absolutely safe from failures - but bitcoin looks set to live longer given its improving economic growth.

Nobody can guarantee anything but there is this mistaken believe that if something really bad happens that it is over. Mistaken belief that Bitcoin can't recover and bounce back. This is obviously a false premise because we have survived a lot of crazy things, all kinds of attack on it. If Bitcoin can be destroyed this way than all altcoins that have any grains of decentralization are long dead. Bitcoin is by far the most secure and the most decentralized network. Nothing comes even close to it. Shitcoins are advertising all kinds of features because they sacrificed on decentralization and are centralized networks even if they want to pretend otherwise.

[livingfree]

They did and even forked it.

But where are the most of those projects that have copied, named after and then reproduce it as if people are going to choose it?

Most of them have died already, there are still some few left remaining and maybe those are the real survivors. And with bitcoin, the real one, its blockchain can't be modified and the community has becoming even greater and stronger.

The reason why they copy the name is because the project is fraudulent and the intentions behind them are malicious. This is true for both Bitcoin Cash and Bitcoin SV. For a project to be successful and objectively valuable, it must fork itself under a new name that is not Bitcoin. If it proves itself without trying to steal some users through name manipulation, then it has some substance behind it and we can check it out.

The intention was truly ill and they want to attract Bitcoin users to go with them into the doom of failure.

But as we all know, they're mostly failed projects. It doesn't mean that they're still existing in the market means that they're successful. Maybe they can take that as a yes if they keep their ranks at the top.

Although we know that many bitcoiners didn't like these actions and should have just stick to Bitcoin itself.

And they're not just the projects that have named after Bitcoin, many did but the majority were forgotten and dead projects.

[davis196]

Bitcoin has one obvious and critical vulnerability: its heavy reliance on mining, which is increasingly becoming centralized in the UnitedS. Most other countries either do not accept miners or leave them in a semi-legal gray area.

The real danger will come when the Democrats return to power in the US. They won't just impose heavy taxes on miners; they will also likely attempt to pass laws requiring the verification of all transactions that pass through US-based nodes.

Add to this the fact that mining is largely unprofitable. According to a recent VanEck report, the total debt of mining companies has exploded from ~$2.1 billion to ~$12.7 billion in just 12 months. This concentration of an unprofitable industry in one country is a huge systemic risk

1.Miners can move to another country.
2.Mining difficulty can get adjusted.
3.Are you really sure that the Democrats will return to power anytime soon? And if they return, are you really sure that they will impose heavy taxes on mining and transaction verification through US-based nodes? Why didn't they do this during the Biden administration? Do you have some insider information about what the Democrats plan to do in terms of regulating and taxing the crypto industry?
Almost every cryptocurrency relies on mining, which means that almost every cryptocurrency has the same vulnerability.