Why is BITCOIN more expensive than other cryptocurrency?

[Relnarien]

4500 physical shops accept bitcoin and many websites as well

hundreds of thousands of users use bitcoin

in other words bitcoin has much more support, and there's the value.

Why is facebook worth billions and myspace worthless? Same reason.

That proves my point: Myspace used to be worth way more than Facebook, this shows that the "first mover" advantage is not absolute.

Myspace is not designed to be used as a currency though. Its users can migrate to another social networking site like Facebook without feeling an ounce of regret. Bitcoin users can't do that without incurring a potential financial loss. You see, Bitcoin's advantage is not that of "first mover," but rather being the core around which all currently existing cryptocurrencies revolve around.

[inBitweTrust]

NXT has the most advanced technology behind it, and if people want privacy, well theres a few options in altcoins...

Bitcoin is far superior to Nxt because their is 1000x more developers writing code for it and creating innovative solutions.
Darkcoin doesn't solve anything that BTC solved long ago with stealth and coinjoin.

[grtthegreat]

I am mining monero with my small end CPU. And BTC is the only cryptocurrency I love. And I personally use BTC only. Monero is just for time pass.

[ThePurplePlanet]

Its also the most expensive because people are needing to buy BTC to get hold of other alts like NXT, Darkcoin, etc.

I think there will be some tough competition for BTC in the not too distant future however.

NXT has the most advanced technology behind it, and if people want privacy, well theres a few options in altcoins...

NXT and Proof of Stake cannot be decentralized. If you base the longest chain on most stake chain past owners (who sold) can create parallel chain and reverse the entire chain. Even exchanges which had at some point in the past huge amount of coins can create a chain with big stake in it.

As for Darkcoin I dont see the point of it since bitcoin has darkwallet  and the infrastructure.

[ThePurplePlanet]

I am mining monero with my small end CPU. And BTC is the only cryptocurrency I love. And I personally use BTC only. Monero is just for time pass.

Agreed looks like everyone is using alts to make more bitcoins thats why people switch from altcoin to altcoin .. to increase their bitcoin position.



http://blog.oleganza.com/post/54121516413/the-universe-wants-one-money

http://themisescircle.org/blog/2014/03/14/the-coming-demise-of-the-altcoins/

[lynn_402]

I am mining monero with my small end CPU. And BTC is the only cryptocurrency I love. And I personally use BTC only. Monero is just for time pass.

Agreed looks like everyone is using alts to make more bitcoins thats why people switch from altcoin to altcoin .. to increase their bitcoin position.

Most people don't do that, or else altcoins would already have no value...

[ThePurplePlanet]

I am mining monero with my small end CPU. And BTC is the only cryptocurrency I love. And I personally use BTC only. Monero is just for time pass.

Agreed looks like everyone is using alts to make more bitcoins thats why people switch from altcoin to altcoin .. to increase their bitcoin position.

Most people don't do that, or else altcoins would already have no value...

No just many people didnt figure that out yet because there are too many newbies coming in. Since the pace of newbies slowed down the since December the alts lost a lot of value during that time. (The entire altcoin space lost 70% with respect to bitcoin, and thats a huge number) I studied the April bubble and the same happened. Also altcoins have value because since the bubble all the litecoin value (1.4 billion at the time) was going from altcoin to altcoin..

 The fact that litecoin bagholders didnt figure out yet that they are funding all sorts of altcoins since December doesnt mean much...

They will figure it out though.... Altcoins are good as long as there newbies coming in...

[lynn_402]

I am mining monero with my small end CPU. And BTC is the only cryptocurrency I love. And I personally use BTC only. Monero is just for time pass.

Agreed looks like everyone is using alts to make more bitcoins thats why people switch from altcoin to altcoin .. to increase their bitcoin position.

Most people don't do that, or else altcoins would already have no value...

No just many people didnt figure that out yet because there are too many newbies coming in. Since the pace of newbies slowed down the since December the alts lost a lot of value during that time. I studied the April bubble and the same happened. Also altcoins have value because since the bubble all the litecoin value (1.4 billion at the time) was going from altcoin to altcoin.. The fact that litecoin bagholders didnt figure out yet that they are funding all sorts of altcoins since December doesnt mean much...

They will figure it out though.... Altcoins are good as long as there newbies coming in...

Litecoin and Peercoin have been growing since early 2012, are you saying that the only thing that made them have value is the inflow of newbies?

[ranlo]

the real question..

why are altcoins so cheap, worthless and dont hold value for long

This one is pretty easy to answer. Every other coin is based on Bitcoin. Their value will always be relative to it, and so when it goes down in value the rest do as well to compensate for this.

What needs to happen is for some altcoins to break away from Bitcoin, but that will take a long time, if it happens at all.

[ThePurplePlanet]

I am mining monero with my small end CPU. And BTC is the only cryptocurrency I love. And I personally use BTC only. Monero is just for time pass.

Agreed looks like everyone is using alts to make more bitcoins thats why people switch from altcoin to altcoin .. to increase their bitcoin position.

Most people don't do that, or else altcoins would already have no value...

No just many people didnt figure that out yet because there are too many newbies coming in. Since the pace of newbies slowed down the since December the alts lost a lot of value during that time. I studied the April bubble and the same happened. Also altcoins have value because since the bubble all the litecoin value (1.4 billion at the time) was going from altcoin to altcoin.. The fact that litecoin bagholders didnt figure out yet that they are funding all sorts of altcoins since December doesnt mean much...

They will figure it out though.... Altcoins are good as long as there newbies coming in...

Litecoin and Peercoin have been growing since early 2012, are you saying that the only thing that made them have value is the inflow of newbies?

Yes there were a lot of new people coming in the last 2 years... What do you expect. I owned both at some point made some profit and then I realized that. Also doesnt mean that I will not own some other coin make some money in the future... I just dont believe they for bagholding... Litecoin gained a lot of value because exchanges added it.

[lynn_402]

the real question..

why are altcoins so cheap, worthless and dont hold value for long

This one is pretty easy to answer. Every other coin is based on Bitcoin. Their value will always be relative to it, and so when it goes down in value the rest do as well to compensate for this.

What needs to happen is for some altcoins to break away from Bitcoin, but that will take a long time, if it happens at all.

It seems to be happening with Dogecoin at the moment, since it went down this week while bitcoin was going up. This might be because because dogecoin buyers tend to be more independant from Bitcoin than the users of other cryptos.

[ThePurplePlanet]

the real question..

why are altcoins so cheap, worthless and dont hold value for long

This one is pretty easy to answer. Every other coin is based on Bitcoin. Their value will always be relative to it, and so when it goes down in value the rest do as well to compensate for this.

What needs to happen is for some altcoins to break away from Bitcoin, but that will take a long time, if it happens at all.

It seems to be happening with Dogecoin at the moment, since it went down this week while bitcoin was going up. This might be because because dogecoin buyers tend to be more independant from Bitcoin than the users of other cryptos.

With all the respect I disagree. As long as they are mainly traded in bitcoin and not fiat they cannot break away...

[lynn_402]

the real question..

why are altcoins so cheap, worthless and dont hold value for long

This one is pretty easy to answer. Every other coin is based on Bitcoin. Their value will always be relative to it, and so when it goes down in value the rest do as well to compensate for this.

What needs to happen is for some altcoins to break away from Bitcoin, but that will take a long time, if it happens at all.

It seems to be happening with Dogecoin at the moment, since it went down this week while bitcoin was going up. This might be because because dogecoin buyers tend to be more independant from Bitcoin than the users of other cryptos.

With all the respect I disagree. As long as they are mainly traded in bitcoin and not fiat they cannot break away...

Indeed, but the fact that they have not followed Bitcoin's recent price movement makes me think they are headed in that direction
Also, there are a few exchanges where the Doge-USD orderbook is getting somewhat respectable, like vault of satoshi.

[ranlo]

the real question..

why are altcoins so cheap, worthless and dont hold value for long

This one is pretty easy to answer. Every other coin is based on Bitcoin. Their value will always be relative to it, and so when it goes down in value the rest do as well to compensate for this.

What needs to happen is for some altcoins to break away from Bitcoin, but that will take a long time, if it happens at all.

It seems to be happening with Dogecoin at the moment, since it went down this week while bitcoin was going up. This might be because because dogecoin buyers tend to be more independant from Bitcoin than the users of other cryptos.

With all the respect I disagree. As long as they are mainly traded in bitcoin and not fiat they cannot break away...

Indeed, but the fact that they have not followed Bitcoin's recent price movement makes me think they are headed in that direction
Also, there are a few exchanges where the Doge-USD orderbook is getting somewhat respectable, like vault of satoshi.

I'm going to agree that there is some separation at the moment, but it needs to progress much further before it's really viable. If, and it's a big if, DOGE happens to completely break away, it will be the first altcoin to do so. If this happens I'm curious as to how it'd affect the market...

[lynn_402]

I'm going to agree that there is some separation at the moment, but it needs to progress much further before it's really viable. If, and it's a big if, DOGE happens to completely break away, it will be the first altcoin to do so. If this happens I'm curious as to how it'd affect the market...

That would be really interesting, since traders could have a hedge against BTC's drop in value, without resorting to fiat.

[ranlo]

I'm going to agree that there is some separation at the moment, but it needs to progress much further before it's really viable. If, and it's a big if, DOGE happens to completely break away, it will be the first altcoin to do so. If this happens I'm curious as to how it'd affect the market...

That would be really interesting, since traders could have a hedge against BTC's drop in value, without resorting to fiat.

It would still be pretty risky either way, because while you could swap money from BTC to DOGE, either market could crash at any time. I would venture out to say that BTC is still always going to be the safest bet, regardless of DOGE's pricing at the time. I can't fathom going from BTC -> DOGE as a hedge.

[BTCisthefuture]

adoption rates.

often times the first thing to the marketplace, that gets the most adoption is the one that does the best. at least until something replaces it.


why is amazon.com #1  and not walmart.com ?   why is youtube #1  and not dailymotion ?  its not just that they are good products and services, its that they got to the market first and thats what everyone uses.

Why is facebook #1  but other social media sites that have offered more than facebook flop...again, facebook got there first.

The first doesnt always win, but so long as they dont muck up heavily, they usually remain a powerhouse.

[keithers]

Also in a nutshell, the most merchants accept BTC out of any crypto, so therefore, the most people need it, and therefore the most people are willing to pay for it.

[ranlo]

adoption rates.

often times the first thing to the marketplace, that gets the most adoption is the one that does the best. at least until something replaces it.


why is amazon.com #1  and not walmart.com ?   why is youtube #1  and not dailymotion ?  its not just that they are good products and services, its that they got to the market first and thats what everyone uses.

Why is facebook #1  but other social media sites that have offered more than facebook flop...again, facebook got there first.

The first doesnt always win, but so long as they dont muck up heavily, they usually remain a powerhouse.

This is absolute BS.

Facebook was 2004, Myspace was over a year before that.
Walmart.com was 1995, Amazon was the same year

Don't make up things to prove a point when you aren't even using accurate examples. The only one you got correct was YouTube.

[nzminer]

NXT has the most advanced technology behind it, and if people want privacy, well theres a few options in altcoins...

Bitcoin is far superior to Nxt because their is 1000x more developers writing code for it and creating innovative solutions.
Darkcoin doesn't solve anything that BTC solved long ago with stealth and coinjoin.

1000x more developers, Really?
I dont see there being much more that can be made to improve bitcoin, its as good as it can ever be, for it to be entirely successful, we need it as fast as Eftpos or Credit card, until that happens, we wont see it in use on the retail sector.

I see tons of innovative solutions in NXT, after months of careful consideration and research i decided to invest in it, not to say that bitcoin wont be around in the future, it certainly will, but have we dont fully even know the full potential of crypto currency as a whole.
Not many people even know about bitcoin, let alone other crypto currencies.

I think there is plenty of room for a handful of crypto currencies, but not the hundreds of crap coins we see today, i wish they would all go away, at least some have useful developers and fresh ideas.