Topic: Bitcoin The Camel of Crypto (Read 266 times)

I agree with you and I appreciate your thoughts on the fact that many has come up with fruitless ideas just to replace Bitcoin and make name (fame) and money too but not knowing that Bitcoin founder or founders only came to make a selfless news and not considering the fame or recognition.
Bitcoin could be a repository of wealth easily accessible from any place, Bitcoin began from nothing to little fees to purchase but today it worths over 60k dollars and in the future one might see Bitcoin price surge higher and surpass half a million dollars and even get to millions of dollars after multiple Bitcoin halving, Bitcoin is for everyone who is interested and able that's why no one or government have been able to truncate it.

Several efforts has been made yet no avail, Bitcoin is the father of all other coins, it is the best and will still remain the best, it has shown and proven it self beyond doubt, it is decentralized, offering protection against inflation, preserving privacy and give the financial freedom we need, it is a store of value for future purposes, it value has shown a massive increase and a wider spread adoption, Bitcoin has a solid foundation such that it performance determine the performance of other coins. Bitcoin has really brought hope even to the comman man on the street.

I agree with you totally that Bitcoin can not be replaced as been the first successful crypto with it's decentralized nature and other attributes and artifacts which made it to be unique and outstanding despite the several violent oppositions from many sector and even government it stood still because it was a selfless idea to solving a problem with no one having the ownership of the entire system not even upto 50% ownership to even the founder or founders whose interest was never to get a personal recognition or fame.

Bitcoin will remain the leader because of its strength as a decentralized digital asset. After more than a decade of its journey, Bitcoin has proven its ability to withstand various challenges and market pressures. Additionally, its limited supply of 21 million units makes it a rare asset, which adds to its appeal among investors. Amidst the rise of various altcoins and other blockchain technologies, Bitcoin continues to serve as 'digital gold,' seen as a store of value. With all these attributes, Bitcoin is not just viewed as a transaction tool but also as a hedge against inflation and economic uncertainty worldwide. Therefore, there’s no doubt that Bitcoin will continue to dominate the crypto space for years to come.

Many coins pair with the bitcoin nowadays so once the price of the bitcoin goes down for sure the altcoins will follow, but that's not the only use of the bitcoin, people saw bitcoin only as a tool of investment to hold for a long term target but later on people now using bitcoin with different projects, now with the bitcoin network of NFT, use of transactions, buying into online with the use of the bitcoin payment. Bitcoin are still innovative times goes by and people grab this opportunity to have at least to first-hand experience with these.

One thing that differentiates Bitcoin from other Altcoins is its decentralized nature, the fundamental difference between Bitcoin and Altcoins has made many investors take an interest in Bitcoin rather than other crypto assets. The features contained in Bitcoin are very different from the systems implemented in fiat currencies and other assets, one of the things that attracts the most interest in Bitcoin is that it is not controlled by any central authority.
Bitcoin is an inspiration for other Altcoins, lots of new Altcoins arrived after Bitcoin was launched, Bitcoin will always be the number one Crypto asset and no other crypto asset can compete or replace its position as one of the most popular assets. Here have explained in detail all the profits stored in Bitcoin. It is very natural that Bitcoin always dominates the crypto market because of its existence and the price at which it is traded is always followed by other Alts.

It's up to you whether you want to imply or give any term to describe Bitcoin. In essence Bitcoin is Bitcoin which is abbreviated as BTC. The rest are altcoins. Bitcoin has gone through phase after phase so that it is known as the king of crypto. There is no need for any proof that Bitcoin needs to prove that Bitcoin is great as an electronic currency system. To be famous, Bitcoin no longer needs to be promoted because it is already famous. People who know Bitcoin are great, the first time they find out about how Bitcoin works after looking for an answer to what Bitcoin is abbreviated as BTC.

I think this is so true that Bitcoin has dominated the whole market of the crypto industry and there is no doubt it is still dominating in the whole market. Where we can see that when the bitcoin price gets pumped then along with the pump of the bitcoin many alt projects raise their heads up. So, we can say that it is the dominator in the market. You can notice one more thing in the crypto industry when the bull run starts to show its face to the investors then many new projects launch in the market.

Because when the market is in the good condition which means money is coming into the market so investors also invest some amount in alt projects as well along bitcoin. After the money flow stops to enter in Bitcoin then bear market starts to show its face to the market which means the money flow moves towards altcoins then from here alt season starts.

Bitcoin will always be the number one cryptocurrency. Many developers have once claimed to come up with a crypto that will be better than Bitcoin but all their efforts have been fruitless. I can comprehend your analogy that relates Bitcoin with Carmel because it is really the burden bearer of the crypto space. Bitcoin will always be the first cryptocurrency to be attacked by the government. The price of Bitcoin influences the price of altcoins. Expect the price of some altcoins to rise if there is a boost in the price of Bitcoin and vice versa. I will always recommend people to invest in Bitcoin because it is the pacesetter and the future of cryptocurrencies.

Crypto is crypto just because of Bitcoin but Bitcoin is Bitcoin just because of Bitcoin. You can never talk about crypto without making reference to Bitcoin but you can comfortably talk about Bitcoin without giving a shit about crypto.

It's good to know that Bitcoin has paved the way for all the crypto we currently have on this space and while some is currently doing well and has gone to attract a lot of attention into the digital sector, the uniqueness of Bitcoin has still remained unmatched and you can't make any comparison between Bitcoin and crypto cause Bitcoin is the Lord of them all.

@Dr.Bitcoin_Strange, you are very correct. Since the introduction of Bitcoin by satoshi Nakamoto, Bitcoin has not been replaced by any other crypto currency. The reasons why so many people still believe Bitcoin than other altcoins is it's history and volatile nature which can not be compared to any other cryptocurrency.

Bitcoin will always be at the forefront of cryptocurrency, and for several fundamental reasons. First, Bitcoin's uniqueness and authenticity as the pioneer in the digital currency world provide an irreplaceable level of trust. Additionally, Bitcoin's well-established secure and decentralized network makes it the go-to choice for many investors and users.

Second, its growing adoption by both individuals and institutions adds legitimacy to Bitcoin in the global financial ecosystem. Many large companies are starting to accept Bitcoin as a payment method, and some are even investing their reserves in Bitcoin. This shows that Bitcoin is not just a fleeting trend, but has become a staple in the modern financial landscape.

Third, the limited supply of Bitcoin, with a maximum total of 21 million coins, creates a scarcity effect that drives its value and appeal. In a world where inflation is a concern, Bitcoin presents itself as an alternative that can be seen as "digital gold."

Finally, the strong and innovative community around Bitcoin promotes continuous development and refinement of the underlying technology. With all these factors, it's clear that Bitcoin will continue to hold sway and remain the leader in the cryptocurrency world, despite the emergence of many other coins as competitors.

In a nutshell, bitcoin is the mother cryptocurrency, not because of being the first ever, but because it has been seen as the only one that has the kind of consistencies in which the people want for its adoption, it uses PoW, its a decentralized digital currency and a profitable one, there are many advantages for using bitcoin in the economy in which the people will always crave for and will find with bitcoin than in other networks.

Without doubt, Bitcoin is the only immutable crypto that has not been able to be replaced with the other thousands of altcoins on the market. Bitcoin is the reason why so many investors are still believing in crypto investment, and despite the thousands of altcoins in the market, they still depend on the bull season of Bitcoin to have their price pumped.

Satoshi though took a lot of inspiration from cyberpunks and  so technically it could not be the first cryptocurrency. However, it's the prime mover as we have seen in the last decade or so, it really took off and it's a revolution that we are all part of.


I'm not sure about the comparison though, but as I have said, it's the prime mover, and you can see the dominance of Bitcoin. There could be that argument though that Bitcoin in the future might not be as dominant as today and could replaced. But we can't really tell, so for now, why not we just enjoyed it, be it sound money, store of value, assets or hedge against inflation.

Bitcoin is Bitcoin and it does not work for altcoins or cryptocurrencies. Bitcoin is created to serve people who want to use Bitcoin blockchain and bitcoins, who want freedom, privacy, anonymity and decentralization.

Bitcoin is not responsible to take care of altcoins.

My conclusion is Bitcoin is not a camel of cryptocurrency.

Bitcoin is not a first cryptocurrency, see Bitcoin prehistory

The plodding, slow, yet dependable beast of burden that spits and runs faster than you imagine, I suppose I could live with that imagery. It doesn't quite fit the bill of significant link in evolution of the money species though, it was not just the first "cryptocurrency" it introduced a first implementation of many ideas that didn't see real-world iterations for decades.

Yala, Bitcoin, let's go!

               "Bitcoin the Camel of Cryptocurrency"
Bitcoin is more than a crypto currency to me, Bitcoin is an idea (first crypto currency) and Ideas as it is been said rules and never dies and when one tries to stop a revolutionary Idea they usually end up making it more popular and known because Ideas are usually encapsulated with high corrosive energy or burning force (drive) which gives birth to a revolutionary change and yet remains which to me seems to be typical in Bitcoin's metamorphosis from it's genesis stage to booming stages now.

Bitcoin is the Camel of crypto, and as we all know,Camels are used to carry too many loads, valuables etc in a long journey and Bitcoin in my own point of view as a new bee seem to me, to be in a journey (non-deterministic but futuristically in a positive repositioning).
Bitcoin is volatile as we may know which is why I feel as a new bee that Bitcoin (the Camel of crypto) is in an indefinite and non-deterministic journey in precision or accuracy but predictable to close range with it's loads (cryptos) and it's never static for a long period of time nor does it get to it's destination only it's peak per time.
Bitcoin been the Camel 🐪 of crypto that carries every other crypto in my own point of view also determines their movement pattern such as back and forward, rising and falling, bull run before and after Bitcoin's halving.

If the above can hold to certain level as Bitcoin been the Camel of Crypto yesterday (genesis stages) today (booming stages) will Bitcoin  be or always be the Camel of Crypto in a continuous and non-deterministic journey tomorrow and in the future? Please I need your suggestions, opinions and corrections as well, thank you.