Topic: Bitcoin blockchain Or Bitcoin price, which makes it the top cryptocurrency? - page 2. (Read 584 times)

i think its Blockchain deffinatley BTC is the primary digital money , has good day by day volume, wide acknowledgment , genuine utilize. In any case it is the square chain we are discussing. Blockchain exists in light of bitcoin and the other way around. There wouldn't be any crypto, had there been no bitcoin. So bitcoin will be the prime crypto, for its development, its innovation, its reality.

Do you even understand what you are saying?  Sounds like you are just pumping out some nonsense talking point.  There is more to bitcoin than merely being first, which includes a variety of network effects, which largely means that systems are being built around bitcoin in terms of mining, development, finance and even consumer uses.


Who gives a ratt's ass if there are some of the thousands of other cryptos that have "more promising technologies" if when in fact they are likely to be either absorbed directly into bitcoin or perhaps merely be uses as a side chain of bitcoin..?

 Furthermore, consider network effects of supposedly "more promising" technologies and whether they have been actually put to play beyond just spouting out their supposed superiority in a white paper.  Also consider the network effects of other cryptos as compared with bitcoin whether that is hashing power or development or financialization or consumer adoption.

It seems to me that Bitcoin is now the main because it appeared first and scored the price. In General, now there are crypto-currencies with more promising technologies.

Your attempt to describe bitcoin in various time phases seems to be an attempt at a kind of spinning that describes bitcoin as a maturing product that is both 1) receiving meaningful competition and 2) going through stages of maturity that involve kinds of diminishing statuses.   In other words, it seems that you have a kind of pie in the sky of making shit up.

You think that hardly anyone knows about bitcoin now, think about 2009 to 2011, it was the geeks of the geeks, and so a very very insider group that knew about bitcoin and its budding creation... hardly even had any market value, and barely begun to have a place to trade it on Gox and perhaps a few other ways of individually making direct sales.


Of course, bitcoin remained unique.. hardly any alt coins during this period.. and they merely took bitcoin's code and changed a few features.. but bitcoin definitely dominated the space.. even while it continued to hardly be known.,, except perhaps a bit more in 2013 with satoshi dice and silk road developments.


Yes.. a bit of increased merchant adoption of bitcoin during this pre 2014 period.. but still barely becoming known.. other alts never really took much hold during this period.


Your parsing here sounds like a bunch of bullshit.  There still aren't any coins that have the level of bitcoin's computing power that allows it to continue to build on its vision..  Other coins are not taking any market share beyond pump and dump and ethereum was barely entering the market at this time after Vitalik decided to rage quit from his BTC participation to create his own insecure imitation but a bit different pie in the sky toys.


Get the fuck out of here with your claim that bitcoin is deviating from its original vision, and that is just not true.  Sure, bitcoin is evolving through consensus to have changes such as segwit and lightning network, but bitcoin remains the same bitcoin, too, so you can chose how to employ bitcoin and whether to employ bitcoin.  The drama of the last 2 years have been mere attacks that try to create impressions that bitcoin has deviated, but in the end, much more success for bitcoin because the attacks have largely shown to be failures... and people are realizing the bullshit nature of the various pump and dumps and vaporware scams.  Sure, not everyone is realizing these facts, so your spouting out nonsense is going to continue to have audiences who believe that kind of bitcoin is a failure disinformation.


Who gives a shit if various other coins are used for spending... bitcoin has those features, too, and there is no need to rush into providing those services, .. and with the passage of time more money will gravitate towards bitcoin because of its security and the soundness of its money rather than some kind of bullshit claim that other coins have more spendability.. no one is spending other coins, anyhow... but even if they are being spent, there are issues with their security and soundness of their supply issues and if controllers can just create a bunch of new coins or you don't know about the supply, then why the fuck you want to hold manipulated coins like that?  By the way, what fucking coins are you referring to that are supposedly winning the supposed nonexistent merchant adoption race?  Do you have actual meaningful evidence?


Yeah, right.  You are repeating old stupid-ass talking points, and not even an adequate comparison.  You have heard of networking affects?  At least seven that Trace Mayer outlines, and none of the coins are even close to bitcoin in terms of ongoing networking effects that continue to grow with bitcoin.. so your bullshit about bitcoin supposedly dying is by making up talking points and facts as you wished them to be rather than referring to actual facts.  


Yes, the pyramid scheme talking point is another one that does not work with anything beyond made up facts, rather than actual facts.


with all the nonsense said.... you haven't really said anything, except making up a kind of wishful trajectory that you would like bitcoin to have.


I will agree with you that market cap of other coins is frequently made up bullshit.  There are some problems with bitcoin's market cap too, because there are probably 10% or more bitcoins that are lost or otherwise out of circulation - perhaps forever.

The market cap of a lot of other coins are manipulated by their supply issues.

Regarding price, Bitcoin is currently going through a correction, and yes, we are going to find out whether the bottom is in for this current dip, or whether more downward movement is necessary.  There is evidence in both direction, and so time will tell.  Furthermore there is some symbiosis with the price performance and froth of some of the other coins, so it could take a bit of time to figure out if this current bottom is already in or if the price needs to stay in the $5700 to $9k for longer or if perhaps it might correct a bit lower?  


What the fuck you talking about bitcoin or altcoins, or the whole crypto space?  Bitcoin remains different from the various other alts, so if you are trying to suggest that bitcoin's scarcity is screwed up because of the money creation of the various alts, then you are making a stretch of a claim... however, for some time, there will continue to be confusion by a lot of folks, including dumb money that will pump into the various other alt coins and ICOs and other non-bitcoin scams.


Now you are spouting off some nonsense about comparing bitcoin and gold?

First of all bitcoin (and even gold) is worth whatever the fuck people are willing to pay for it.  Currently the bitcoin price is floating in the $6,500 territory like you say, and that is based on its current status of various utility, present value and future value and perceptions of both present and future value.. and including the extent to which price momentum exists in either direction in order to either push its price lower or higher through the various liquidation channels that currently exist.  There is no need to get caught up in your weeds discussion of units and all that bullshit, because both bitcoin and gold remains valued at what people are willing to pay for it, and with the passage of time, there are a lot of folks that are coming to realize that bitcoin is much more valuable than gold in terms of its various currency features, scarcity which affects storage of value and its divisibility and portability... so bitcoin is likely going to be taking away much of gold's market share in the future, just like it already seems to have begun to do in the past few years.


Who gives a ratt's ass about various unit considerations, except if you merely want to attempt to confuse matters?  There maybe be some points in which other units of bitcoin should become more utilized, and perhaps there will be a movement to satoshis at some point, but the unit considerations do not affect the fundamentals as much as they just affect some of the perceptions of value, which in the end will work itself out, even if there continues to be some confusion caused by unit perceptions.


Ps.. you come off as a fucking liar... If you loved bitcoin so much then why have you been spending years and years spouting out your same nonsensical and misleading bitcoin denigration talking points?  Your actions do not come off as "love" but instead, you are compelled to engaging in ongoing negativism and spreading misinformation based on various negative ways to spin your bitcoin bashing talking points... whether you are a paid shill or you just have the hate within you.. your talk about love of bitcoin is a lie.


You can frame your supposed motivations in any way that you want, but you are still constantly serving as a disinformative FUD spreader.


You have not revealed any issues.  You have just typed a bunch of bitcoin bashing nonsense that makes little sense, and even you probably don't believe your own bullshit.  


Good you are quoting the same trace mayer as me... and yes they apply.  Bitcoin remains in way less than 1% of world adoption and bitcoin remains the king of all the cryptos... there is no other crypto that is even close to bitcoin in terms of overall solidness of its security and decentralization that is going to continue to have value flowing into bitcoin rather than other nonsense vaporware coins.


Seems like you are missing the whole point, and attempting to suggest that bitcoin has gone through any kind of meaningful maturity.  Bitcoin remains in the vary early days of much of the network effects, including adoption.. but the foundation of bitcoin continues to build and all of the network effects continue to build too... which seems likely to involve lightning network, too.  Your attempt to parse out, seems to suggest that you don't even understand the overall dynamics and direction of bitcoin and the value of bitcoin... which does not mean that there is any kind of need to rush into getting merchants to adopt.. or for bitcoin to compete with credit cards and pay pal, even though it is likely that in then long run, bitcoin will be eating the lunch of all of those  payment processors.. because there is a certain value to having control over your own banking and your own value storage, which ends up being some thing that still is going to cause bitcoin to win in the end.. including all the network effects that are still building on bitcoin.

Yes, it is right that bitcoin is the first crypto currency and the system is based on bolckchain and no matter what it will always remain number one.

people always focus on one or two reasons thinking that one reason is why bitcoin is big and has a high price. but they miss the fact that there are a lot of reasons why bitcoin is like this right now and usually those reasons such as being first, being popular,... or like what OP thinkgs the blockchain or price are not even main reasons.

the main reason in my opinion is that bitcoin works as it should and does it in the most secure and decentralized way. there are always downsides in any system but there are more benefits in bitcoin than there are negatives and that makes it big and successful while others struggle.

bitcoins dominance and inspiration of 2009-2011 WAS based on the above..    
so from 2009-2011 yes bitcoins blockchain vs price. bitcoin was winning based on blockchan features, because the price was low compared to other currencies/mediums of exchange in the world, and the features bitcoin offered were far more valuable than its price
but..

2011-2013
then came altcoins that also used thee same solution. thus other coins utility of a decentralised network meant bitcoin no longer had a unique feature that any other currencies couldnt offer.

bitcoins dominance then became price and merchant utility. merchants didnt use litecoin as their "we accept.." paymnt method. but while other coins were offering faster confirmation average times or more data per block or more/less coin reward per block.. bitcoin started losing the utility race.

2013-2015
with less unique codebases of differing node clients, and the war against other 'generals' had started to rip(REKT) apart the byzantiines solution, thus losing bitcoins uniquenase, features and benfits further

2015-2018
and now the reliance on one source of new rule/upgrade path (core roadmap/mandatory upgrades) the whole utility of consensus(bysantines solution) has nearly disapeared completely due to this whole drama of the last 2 years.
and now merchant service tools are now opening their gates to other coins. so bitcoin is now losing the merchant adoption race too.
soo.. now it seems bitcoins only promoted 'feature' is first to market (which didnt play well for myspace or napstre)
leaving people to now only prompt the price as the reason to try inticing new people

now with all that said.
market cap and price are both illusions.
if i called 1000 apples shares as a 'cookingapple' (large apple) then the price per unit would be bigger.
if i made an altcoin of 5 trillion coins and sold 1 coin for $5 the market cap would be $5trillion.

think of it this way. look passed the ilusion of the basket terms of measure.
many people say that bitcoin is $6500 per unit and gold is only $1800 per unit(btc vs oz)...
but what if i told you bitcoin was only $0.0065 a unit and gold was $38k a unit. (bits vs KG)

so with people starting to measure bitcoin as ubtc(bits(100sat)) the price per unit will drop from ~$6500 per unit(BTC) to ~$0.0065 per unit(bits)
thus in future bitcoin will show as a under penny per unit price and other altcoins will hav a higher price per unit. and alts will have a higher market cap.

p.s i love bitcoin. but im a realist not an ass kisser. its far better to reveal the issues and hope the community wake up and then help sort the issue, rather than kiss ass, hide the problem and let it continue/get worse.

..
summary.
watch trace mayors SEVEN network effects video.
https://www.youtube.com/watch?v=D3n6lLeuPQA
then ask in 2018 do all these 7 network effects still apply to bitcoin uniquely
in my view the only one remaining is point 4 (mining hashrate). which the cost of mining upholds the price support (the low of a year) where people refuse to sell below their cost of obtaining bitcoin

I think you have it in reverse. Popularity will comes after price and technology. This is because the people appreciate what bitcoin is potentially offering them.

Because of its popularity. When people find out that you can easily get the money, found out about Bitcoin, the hype began, many, and I know all cryptocurrency only. Price and technology are already secondary.

There are many things that are interconnected
- It is the first cryptocurrency and has a large, loyal user base
- It has huge amounts of hashing power backing it, making it the most secure cryptocurrency
- because of the above 2, it has the highest market cap among cryptos.
It would be difficult to separate the factors.

really, even if bitcoin will be replaced by altcoin I think people's view of bitcoin will remain the same.
bitcoin that has popularized crypto, and it will remain inherent in everyone's memories as well as the history of bicoin.
because the bitcoin that has brought the name of cryptocurrency to be known by the world.
bitcoin is a crypto legend.

Blockchain doesn't exist because of bitcoin but the reverse is true. Years from now, hypothetically, if crypto has been wiped out, bockchain will still be here.

Bitcoin is the prime coin because it founded the crypto currencies. It was not created for the benefit of one person or a group of people like how you see now a days in almost all the ICOs.

OK thanks for sharing this, I get it very clear and it answers my questions as to whether it's just about the price or the Bitcoin blockchain, now I know that the blockchain holds the networking layer on which the entire crypto is built so it would remain superior to other cryptocurrencies irrespective of its price in the market.

You have a bad idea about bitcoin and blockchain. Blockchain exists because of bitcoin and vice versa. There will be no encryption, no bitcoin. These are the two things that go together

The price is not a single element to determine the prime status of it. Bitcoin definitely gained momentum due to its first mover advantage of it. However, it's the utility value that makes it the prime currency. There are the people who are using it as a payment system and any other coin having high price might dominate the crypto market but it won't be a prime cryptocurrency unless there are factors like userbase and utility value to support the market cap.

which is certainly a price issue that makes the coins become the top, because the price is very influential in human thinking, and also smart contracts that make a lot of coins better like eth.

it is true that bitcoin is the first currency created in blockchain at a very high price, and if any altcoin is priced higher than bitcoin I think bitcoin will always remain the main in the mind of the world community, because bitcoin is embedded in the shadow of society.

It is Block chain clearly. we should need to offer credits to BTC too. BTC is the principal digital money , has not too bad day by day volume, wide acknowledgment , genuine utilize. At the end of the day it is the square chain we are discussing. So BTC will have hard battle in future if some other coin can bring remarkable highlights. Be that as it may, the pathfinder will stay to start with, dependably. So it is difficult to crush btc . What's more, Price of a coin shows something, not all that matters. There are shitcoins in the market being exchanged at 1000x cost from its genuine esteem.

If you're asking why bitcoin is placed as the top currency, the reasons are pretty obvious: it's because it is the first cryptocurrency ever traded with real money and its price on the market. Most cryptotraders are banking on bitcoin due to these reasons, with (sadly) its technological implications and flexibility trailing behind the price. You can also factor in the amount of money invested in infrastructures surrounding bitcoin, mainly the mining scene. Due to this, people who are knee-deep on their involvement wouldn't want to get their leverage and advantage on investments be turned to nothing. I'm sure there are a lot more reasons why people choose bitcoin over any other cryptocurrency, but these, I think, are the most probable reasons why they stick with it through the highs and the lows.

You have a wrong idea of bitcoin and blockchain. Blockchain exists because of bitcoin and vice versa. There wouldn't be any crypto, had there been no bitcoin. So bitcoin will be the "prime" crypto, for its evolution, its invention, its existence. Eventually a time might come where alts might take over bitcoin in terms of price, because they have a much bigger hard cap. But will that change anything about bitcoin? No.