Topic: Bitcoin The Worlds First CryptoCurrency ! What does this mean for Bitcoin now ? (Read 310 times)

Who can help me out and send some coins? 1LnS8SnfuHE3D8seEoUR8XcAsfGG3zjb6T

Sorry, Bitcoin is different from all those things that you have mentioned here.. Being the first cryptocurrency gives Bitcoin more advantage over other cryptocurrencies in the market. If you check, investors are always interested in Bitcoin more than altcoins. A lot of people these days don't even trust altcoins, they only trust Bitcoin because it's the first cryptocurrency. Most altcoins that are created ends up not succeeding at last. And lastly, there are people who will at some point, withdraw their investment from altcoins and invest them in bitcoin.

So, there are lots of advantages to Bitcoin being the first cryptocurrency. It's less likely to die off like other cryptos. And the way I see it, it might not.

Very soon when institutions starts to invest their money in Bitcoin it will start to grow and will be backed heavily. Though there are people who are against having institutions involved in Bitcoin. For now, it's the people that are backing it.

Quite the contrary, Bitcoin for now is more useless than it is foreseen in the future. That is one of the reasons why Bitcoin is being criticized right now. One of the oldest and undying criticisms of Bitcoin is mainly emanating from the fact that it is a terrible failure in terms of functioning as a currency or even a payment system, which is the main reason why Bitcoin was created by Satoshi. But despite that, Bitcoin grew, evolving into an asset, touted as the digital gold, in the process.

If there is a bubble in Bitcoin that will pop in the future, it is the bubble of being a digital gold. In the future, Bitcoin will be more of a currency than an asset.

Bernie Madoff's Pyramid Scheme was backed by people who believe and trust it, that did not give it any value... Nor does it give bitcoin any value, beyond what some greater fool will pay for it....

Once people start to figure out they are not going to get rich, and that they are loosing their investment in Bitcoin, you will see selling and price drops beyond anything you can imagine.

So let me ask everyone a question,  at what price do you get out ?  How far does it have to fall before you admit you were wrong ?

Hard Facts

Whether Bitcoin is the first cryptocurrency is debatable, because it depends on our definition of cryptocurrency. But even if you count those few inventions that appeared before, the op's argument can still be modified and considered. It can be based on the premise of progress that comes along with newer inventions or discoveries. In that case, Bitcoin should still be worse than, say, Ethereum.
However, I disagree that it's a general thing that newer things make progress in comparison with the older ones, and Bitcoin is a good example. There've been some modifications and alternatives, but nothing rendered Bitcoin useless yet. For now and the foreseeable future Bitcoin remains the #1 cryptocurrency.

Cryptocurrency wouldn't exist if it weren't for Bitcoin, remember these facts!


Your so-called asset backed cryptocurrency are all centralized which is the total opposite of Bitcoin and as far as I remember the crypto community was formed against this centralized system so whatever you say it won't matter because people will still use Bitcoin due to its decentralization.

well , u must be haters for BTC , isn't ?
but , i appreciate your the path life.
listen , i have many many words to deny your words, but i guess it will be not change your mindset.
i dunno how valuable the first Fiat Currency, since it just a old story , and i guess its not valuable.
just a small building,i guess.
Nope,i cant using internet with the first cellphone.
Being the first is hard,because u must create a different thing even unique thing from a general people think, and the next competitor just a shit with just copied from the first and make a small change,claiming better than the first for new ecosystem but is no more than human desire.
i am quite sure That does not happen in BTC.
it may happen on people , but i am sure satoshi still not take any profit from it.
yes, indeed, but people will look the first crypto currency , because its still alive , not like FIAT ,forgotten by better products arrives.
Yes, because it doesn't needed.
"Cryptocurrencies were the first platform developed using blockchain technology."
that a real fact , no need claim for it, since people not too dummies anymore.
even the first FIAT can collapse to zero.
but now ? , like u see.
I have no doubt that bitcoin will be the future of money.
Bitcoin is backed by Nothing, that why people know BTC the first decentralized cryptocurrency.
did u understand what freedom meaning ?
that's where bitcoin lives

You can ignore reality, but you can not ignore the consequences of ignoring reality  🤣🤣🤣🤣

Me Facts

Bitcoin is backed by people who believes and trust bitcoin,  power to ruled the world,  I'm Agree with you that bitcoin will not have potential to become future of money, 

But on your explanations of backed,  backed 😂
This is useless becuase government are the real backed of crypto that will replace fiat in the future, because they need to control this.


Hard Facts

just give me just one for you to say whether there is a blockchain product that is really better than bitcoin and has been tested from security systems and others, most competitors only see the weaknesses of expensive bitcoin transaction costs but actually this also cannot be said of a product which failed, I'm sure all the problems of any bitcoin will always be developed in the future to be much easier to use

a lot of people in this forum and bitcoin users out there support bitcoin and you say there is no support, it looks funny

That's actually a hard fact but is it the irony of it? Even though it isn't backed by anything people still trust it more than gold and in fact people are perfectly fine with that.

I respect your opinion and just leave you here and so respect us as well. Don't say silly things or you'll sow it eventually or I will assume that you're nothing but a butt hurt.  

It's not really nothing as it became the basis of any other Cryptocurrencies, without btc no altcoins will be invented. It is considered first as it's the only cryptocurrency that started it all. It already gain popularity and will soon to get more adoption once many accepts how it can be useful in many ways.

If you think about it, fiat money isn't really backed by anything either and we've come to a point in civilization that money doesn't need to be backed by anything specific.  People just need to agree that something has value, and that's exactly what's happened with bitcoin.

But yes, there are altcoins that perform the money function much better than bitcoin.  That point I would not argue.  However, bitcoin *was* the first and did form the largest community around it, which is why it's the most valuable.  I don't know if that's going to change, but it could.  It doesn't seem like that is going to be the case, tho.  I have yet to see an altcoin with the following that bitcoin has, and it cannot be understated how important that is.

People aren't going to be interested in a crypto that's backed by...whatever.  There have already been proposals for coins backed by gold and whatnot, but people realize that this isn't necessary.  Those coins are basically stable coins, and those don't have the allure that something like bitcoin does, where you can actually make a profit from it.

When you say Bitcoin is backed by nothing do you understand what that really means? Something that is backed by nothing cannot be reliable nor trusted. Bitcoin is backed by the people, investors, traders, its unique features, online assets etc. Hopefully in the future , it will increasingly be backed by more assets especially valuable physical assets via its sidechains/tokens.

But you must remember, the blockchain was first connected with bitcoin and after that everyone competed to adopt blockchain and bitcoin.
If bitcoin is not valuable, how can other altcoins survive. Everyone is now honestly only aiming to have bitcoin.

You have a point but you cannot predict also the moves of other big individuals who are pulling the triggers to make Bitcoin as the greatest currency even if it is backed by nothing.

Being backed by something can be very lethal as other entities can easily control the price. What I believe is that Bitcoin with backed by nothing will become the main currency in the future due to its anonymous background aside from being the mother of all cryptos.

It may be definitely gone in the future but not any sooner. The technology still receives attention and is suspect to greater adoption by different institutions and organizations. But I do agree that it would become obsolete in the future, and it is indeed inevitable. If your purpose is to educate, then you have made your point. If your purpose is to create FUD, then I only think you've failed.

Assets and technologies just vary in time of their use. Some do last for centuries, while others are only lasting for years. Nothing is permanent as they say. Maybe one time, instead of people praising gold as the wealth standard, we might have a shift that the next most valuable asset to have is digital data. No matter what that is, one thing's for sure and that is the world is ever changing.

everyone is not so interested when discussing the decentralized system, but appreciates bitcoin as a currency, the effect of its use has proven effective as far as increasing aspects of continuity, bitcoin becomes a kind of need for transactions and people are starting to be interested in taking it as a serious need. So the usability component is prioritized as support, the freedom of non-binding transactions is a benchmark for this currency, not entirely comparable to what we normally see in conventional systems.

These all positive aspects of BTC comes at the cost of compromise on scalability, which is one main reasons why BTC is not getting acceptance globally.
I dont think blockchain is a useless technology. Very recently Chinese president hinted on adoption of blockchain not on BTC.

It's a hard fact that Bitcoin will not be the only coin that people should hold for the future purpose, but it's also true that Bitcoin has brought this generation and all the credit to the Bitcoin because people know the first Bitcoin and then other cryptocurrencies, so it might be the best one and still it's the best coin in this cryptocurrency, of course, When people will get the alternate option in this cryptocurrency platform then they will take that opportunity, but you have to mind it that Bitcoin has passed already 10years so it has a huge credibility to this platform, so if you say about the backing up of Bitcoin then it's normal case for every cryptocurrency, so don't mention only Bitcoin.

that is all true but you are forgetting a very important part that you neglect to mention after your long post.
lets take cell phones, when the first one came out, it was great and was used everywhere. then as technology improved, it continued being improved with it. what we are using today is that same first cell phone that is improved with the new technologies. and if at some point that is to be replaced by another technology then that "second" one has to be better.

what we have in bitcoin is that it is currently the only advanced technology that is being used. it is also improving constantly as that technology improves. so far we have had nothing better to even come close to becoming second.
in this situation talking about a second thing is foolish because it won't happen for at least a hundred years.