Topic: Is bitcoin just a brand? - page 11. (Read 1507 times)

Not only the name more likely, it's price. Bitcoin is being known for it's volatility and it's rising and increasing popularity these days. The price pumped from $2K to $10K this year and a lot more of these pumps are expected the next year. If this continues, the price will be more expensive doubling or tripling the current price the next year.

That is the reason bitcoin is rising more than ever. A lot of people are looking to have a profit double than when they first bought bitcoin. they are looking forward to be one of the people who become millionaire because of this digital currency.

In short - no

Lol

Bitcoin's developers hold security and long term stability as their core values. Altcoins, on the other hand, are chasing improvements in order to compete with Bitcoin and each other. They can afford to make risky technical decisions - Bitcoin can't. Altcoin prices are very closely tied, if Bitcoin will fail for some technical reason, all crypto market will crash. Now, to your examples.

Bitcoin's block time target was chosen because developers believe that it's the best compromise between security and utility. Other cryptocurrencies like Litecoin and Ethereum are faster because they've chosen a much smaller value. Time will tell whether it is secure or not, because altcoins transfer much smaller amounts of value per day than Bitcoin and almost no one uses them as a currency.

Monero was built for privacy and because of that there are many drawbacks, plus it's privacy is still being tested. Bitcoin never had privacy as its primary goal, which is economic sovereignty.

Ethereum's smart contracts are still in their early days, they can be quite buggy and lead to tremendous loss of funds. But there smart contracts platforms for Bitcoin are being developed already, and they will be implemented on top of Bitcoin, without any merging or hard forks required.

Bitcoin Cash is not faster than Bitcoin - has the same block time target. It has bigger block space, but most of it is empty, because no one seriously uses this copypaste shitcoin - it was created only for attacking Bitcoin.

So, in general, altcoins are very risky investments, while Bitcoin is less risky while still showing an amazing performance. It's the best store of value out of all cryptos because it has the smallest chances of failing for some technical reason.

Bitcoin isn't a brand, bitcoin is just digital assets or digital currency but don't had physical form like fiat currency and  aside that it's just a great investment source the price is so fluctuative because that it's make bitcoin great to invest well actually another coin is good to but actually i chose bitcoin because the risk of other coin and bitcoin

Litecoin is faster because there are less transaction and the network is less flooded, on the other hand, the network is much weaker then the bitcoin network, so you if you transfer large amount of funds, I am pretty sure that you will sleep better at night if you transfer it at the bitcoin network.
Litecoin should be the bitcoin's silver, and should be used for small transactions as the fees in the litecoin network smaller, litecoin is not a competitor of bitcoin, they grow together.

On the other hand, all monero offers is anonymous transactions, the monero network has a very big scaling issue and I don't see how it could process 3000 tx/10 min as bitcoin does.

I don't think that Bitcoin is a brand. It's a virtual coin. But it's becoming more and more popular with no doubt.

I think you are confused.  Isn't paying $.01 transaction fee (Bitcoin Cash) better than paying $5 transaction fee (Bitcoin Core)?

Some people are pure 'fanboys' and 'cheerleaders' who refuse to consider facts and reason.  There will be a big loss for these guys in the end.

bitcoin is not a brand it is a virtual coin

Bitcoin is not a brand, it is just virtual currency on the market.

 Well i believe bitcoin is really not only a brand because it has a value that can be invested and  maybe a  good way to earn a great huge amount that is why i really believe  that bitcoin is a cryptocurrency that can be called as an alternative asset of gaining through ways of internet and it really works.sometimes people will always afraid of the trying is really the best way to have an experience .and experience will teach us how to do some good action in gaining.

When you go to the world of Cryptocurrency the first to be called of them all is Bitcoin. As it is the name of this forum so that's why the first to be invested in is Bitcoin.

Bitcoin is the first of them all, so expect that it will be the first that many investors do want to invest in their money. Well, you can see that all alt coins are traded using Bitcoin.

litecoin is the same as bitcoin with a much bigger potential blockchain size which makes running a node harder and much bigger orphan risk which makes trusting transactions with low number of confirmation that much harder. it also suffers the same scaling issues as bitcoin

Monero is the anonymous coin we all know but that high level of anonymity associated it with so many illegal activities that makes it something that regular people will stay away from. it also has much worse scaling issues than bitcoin.

ETH has smart contracts so does two dozen other projects. additionally bitcoin has smart contracts through RootStock. and let me ask you this: when was the last time you used a smart contract? where do you know "in real world" that a smart contract is absolutely necessary and is being used for real not for some short term fund raising to scam people and go away?

BCH is also exactly like bitcoin, it just has bigger blocks. it suffers the same scaling issues as bitcoin.

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in short, bitcoin is not just a name. there is bitcoin, then there are altcoins that are not really better than bitcoin. that is why bitcoin keeps rising and altcoins do not.

No.

BTC is (in my opinion) more decentralized than other coins, nearly all altcoins have a dev team which can publish updates for the network if they want (of course someone can hardfork too, but BTC has more contributers and dev resources), BTC on the other hand requires that nearly all users agree on an update (otherwise some users hardfork)

I don't think its just a brand but i would say its a great investment source which is old and trustworthy.I know many alts are much faster and has more features as compared to bitcoin but you have to keep in mind that when it was invented and how many people has invested in this and for them any drastic change would effect.All the improvement will happen in bitcoin too but gradually.

It's really not as much the name as the value. Bitcoin is obviously more valuable, and isn't showing any signs of stopping. You could probably call it "shitcoin", and if it were to retain its growth and value, people would still buy it. It only really turned into a brand when forks like Bitcoin Cash started using its name to get support.

Honestly though, when was the last time you've heard someone say "Hey, let me get some cryptocurrency so I could buy that shiny thing I've always wanted!" I'm going on a limb and say never? That would be because while cryptos can be used as a currency, their current purpose is mostly for investment. Visit any crypto forum and you're going to see HODLers. Features don't matter as much if all you plan on doing is HODL.

Bitcoin is the first coin to "make it big", so the bulk of people who are investing after bitcoin has become widespread do not care about your arguments that much, honestly (like speed, smart contracts etc). People only want to make more money and bitcoin currently offers exactly that, and relatively reliably as well, since major players have started to enter the bitcoin market as well. That is enough reason for your average person to invest in bitcoin.

You have made some arguments that don't necessarily mean anything.
Sure Litecoin is faster, but its 2 minute block time means a much bigger security risk as a greater amount of hashpower is wasted. Therefore it also requires a much higher bandwidth and if it had the same number of users as Bitcoin it's network wouldn't be able to handle the load.
It's a similar story for Monero. Same block time.

Ethereum and Bitcoin are driven by different purposes and thus cannot be compared. Bitcoin Cash is not better than Bitcoin in any shape or form.

Sure, the majority of all altcoins have features that Bitcoin does not, or are better than Bitcoin in a way and Bitcoin's price might stem from the fact that it was the first currency, but due to that, it's still the best currency.

Litecoin is faster, monero is more private, ETH has smart contracts and there are much more altcoin with much more features, even Bitcoin Cash is faster than Bitcoin, but BTC keeps rising much faster.
Don't you think it's just because of the name?