Topic: Is Bitcoin so valuable just because it was first? - page 2. (Read 1432 times)
I think it is so valuable because it was first and enough people jumped on the BTC bandwagon to protect the chain. People also got very invested in mining and seeing how much money they could make by doing so where as now chains are moving to staking system
I think bitcoin is not just the first, but bitcoin is now one of the most high-priced coins and low total supply. so I don't think it's the problem of the first coin, but it is also the type of coin that is most interested in the market.
I did not think about it, but perhaps this is one of the reasons why bitcoin has become so valuable
This is actually an interesting question but when you think of it, anything that has been created first is considered to be the reigning/dominant one in their respective market. But what makes BITCOIN different is that it introduced the blockchain technology. Due to the blockchain technology, it sparked and revolutionized the payment methods which caused a myriad of creations of altcoins.
My answer is Yes. Since Bitcoin became the first truly popular cryptocurrency, it allowed it to acquire a huge community, which made Bitcoin significant in the eyes of the public.
It isn't about populairty or first cryptocurrency ever have. it's about new technology about payment, when people have problem about centralization, Bitcoin came to repair using new methode.Popularity does play a role but not the entire reason on why it is successful. If you were a revolutionary product and the first of its kind, you have the monopoly, control, and demand over the market. Popularity alone may boost your sales and attract other investors.
Along with the Bitcoin's seniority, the availability of the BTC in the market with easy market access as compare to the other altcoins make it valuable.
My answer is Yes. Since Bitcoin became the first truly popular cryptocurrency, it allowed it to acquire a huge community, which made Bitcoin significant in the eyes of the public.
It isn't about populairty or first cryptocurrency ever have. it's about new technology about payment, when people have problem about centralization, Bitcoin came to repair using new methode.Except that btc and having signature lost by risk + high fees in the sum is no good payment any more...
My answer is Yes. Since Bitcoin became the first truly popular cryptocurrency, it allowed it to acquire a huge community, which made Bitcoin significant in the eyes of the public.
It isn't about populairty or first cryptocurrency ever have. it's about new technology about payment, when people have problem about centralization, Bitcoin came to repair using new methode. 
The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space. Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..
I think I might agree with you 100%. So far as blockchain technology is been used by people and institutions or platforms, bitcoin will always be valuable since blockchain technology and bitcoin move hand in hand with each other. Bitcoin will only become less valuable when blockchain technology is no long in use.
Because of bitcoin, blockchain technology was introduced in the community. We always associate bitcoin with blockchain. No wonder, mass adoption is great in bitcoin as compared to any other altcoins. Many have copied, imitated, improved the bitcoin network, yet, they do not succeed in competing with the popularity of usage of bitcoin. People always go back to bitcoin.
Agree, the advanced technology that we must cherish is the blockchain. It's great and we can have more innovative developments on that advanced technology. That's the reason why Bitcoin rose up, it's because of the blockchain that holds the bitcoin for so long. Once the blockchain technology gets more additional features, they will stay and invest more on bitcoin because the possibilities to reach the moon will get bigger.
The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space. Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..
I think I might agree with you 100%. So far as blockchain technology is been used by people and institutions or platforms, bitcoin will always be valuable since blockchain technology and bitcoin move hand in hand with each other. Bitcoin will only become less valuable when blockchain technology is no long in use.
Because of bitcoin, blockchain technology was introduced in the community. We always associate bitcoin with blockchain. No wonder, mass adoption is great in bitcoin as compared to any other altcoins. Many have copied, imitated, improved the bitcoin network, yet, they do not succeed in competing with the popularity of usage of bitcoin. People always go back to bitcoin.
The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space. Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..
I think I might agree with you 100%. So far as blockchain technology is been used by people and institutions or platforms, bitcoin will always be valuable since blockchain technology and bitcoin move hand in hand with each other. Bitcoin will only become less valuable when blockchain technology is no long in use.
The valuability of Bitcoin is not solely because it was the first workable decentralized digital currency but the introduction of blockchain technology into the world's financial space. Blockchain technology is the major contributed to the valuable nature of Bitcoin due to the fact that the world is gradually accepting the use of blockchain techmology for data and financial analysis..
Bitcoin is not valuable just because its first but because it has been a very successful cryptocurrency since its inception. It has proven that, blockchain technology as well as cryptocurrencies have a future and there are here to stay.
For me, yes, bitcoin is so valuable because it was the first successful cryptocurrency that has a different capability and ability. The decentralized currency that no one can control, improving blockchain technology, increasing acceptance & legality, etc. But if someone will create another cryptocurrency that much better or making a new version of bitcoin that will become bitcoin 2.0 that improve all good aspect of bitcoin, I think bitcoin value will drop and most cryptocurrency user will choose bitcoin 2.0. Imagine much acceptable, much higher blockchain tech and much valuable; I'm sure that you will pick the new version if that happens. 
In a way or so, yeah. Bitcoin does have its own advantage for being the first crypto currency to be be used. Those advantage has a long lasting impact on the market. When you talk about crypto currency, the first thing that comes to most of the peoples mind is "bitcoin". This is because the word "bitcoin" has been out there from the very beginning. Thus people starts to trust/believe in bitcoin more than any other crypto currencies due to its reputation. This is eventually fade out as time passes by and a new currencies might end up dominating the market.
Well, look at examples of big and famous companies such as Apple, Microsoft etc.
Being the first to develop a new product, they have gained market advantage.
Also, many people first hear from mainstream media about bitcoin, so bitcoin became their ''entry point'' for crypto market.
Being the first to develop a new product, they have gained market advantage.
Also, many people first hear from mainstream media about bitcoin, so bitcoin became their ''entry point'' for crypto market.
The Value over hard cash and all other online Payment Services is that user are protected by not sending their private data with the tx but having the digital signature proving the action and ownership legally. Sad that old btc changed that. So the Real Value is only coming from the original design and the onChain Security...
I would like to think it has everything to do with this and since it's still going strong and no sign of being displaced it will remain like this for a long time.
Maybe if a consensus is reached to change the crypto standard we might see a new coin heading the flock but things don't work this way.
Maybe if a consensus is reached to change the crypto standard we might see a new coin heading the flock but things don't work this way.
I think Bitcoin is not valuable just because it was first. Bitcoin is popular and valuable because of its features. Bitcoin price is a big factor why it's more valuable than others. I think the crypto market is running successfully because of bitcoin. People are getting interested in crypto because of bitcoin.
If we look around, no other crypto can touch bitcoin. Bitcoin is giving us more opportunities and better facilities that other crypto. Even Ethereum can pass over bitcoin. Bitcoin is the king of cryptocurrencies for its features and no other coin can cross it.
Better facilities in bitcoin ummh I would like to see people debate about this as I don't think this is true. AFAIK there are coins far much better than bitcoin but lack popularity. If we look around, no other crypto can touch bitcoin. Bitcoin is giving us more opportunities and better facilities that other crypto. Even Ethereum can pass over bitcoin. Bitcoin is the king of cryptocurrencies for its features and no other coin can cross it.
Some altcoins are better than bitcoin for specific purposes. Bitcoin has the trust of the people and a very solid system.
Any altcoin that wants to compete with bitcoin has to offer something new, otherwise is just a bitcoin clone...
Any altcoin that wants to compete with bitcoin has to offer something new, otherwise is just a bitcoin clone...
Indeed true, but still altcoin remain as bitcoin clone. Bitcoin established so much believer in the entire world
were most of the merchants adapted the features and uniqueness of bitcoin usages in terms of blockchain technology.
so, its not true that bitcoin so valuable because it was first, nope that's not it dude. Its because of the features why
people embraced it so much.
I have thought about this a lot, especially more recently as I question why I'm using Bitcoin. Since cryptocurrency began, there have been so many new and improved versions of the "Bitcoin blockchain", one of the most notable probably being Ethereum.
It's always painful to use Bitcoin in comparison with sometimes up to $5 transaction fees for sending even $10, not to mention the amount of time transactions take. It kind of feels like Bitcoin is a sinking ship in some ways, because of the increasing problems that occur with a blockchain system. However, this doesn't seem to faze many, as the price keeps rising again and hitting new records.
My ultimate question is: "Is Bitcoin so valuable just because it was first?" As technology progresses it's inevitable that new and better ways of doing things will be discovered. But is it really about just being first in today's world? What are your guy's thoughts on this? Do you think there will be a breaking point aka, amount of inconveniences people will put up with before moving on?
It's always painful to use Bitcoin in comparison with sometimes up to $5 transaction fees for sending even $10, not to mention the amount of time transactions take. It kind of feels like Bitcoin is a sinking ship in some ways, because of the increasing problems that occur with a blockchain system. However, this doesn't seem to faze many, as the price keeps rising again and hitting new records.
My ultimate question is: "Is Bitcoin so valuable just because it was first?" As technology progresses it's inevitable that new and better ways of doing things will be discovered. But is it really about just being first in today's world? What are your guy's thoughts on this? Do you think there will be a breaking point aka, amount of inconveniences people will put up with before moving on?
That was at least one of the reason why Bitcoin is so valuable. Bitcoin is so versatile and people are looking for ways to earn it. All of the Alternate Coins are going back to Bitcoin because of the Market volume of Bitcoin is too high and that also one of the reason Bitcoins value is too high. Bitcoin is only one of the Crypto that can be turned into cash and most of Alternate Coins does not even have this feature.
I think Bitcoin is not valuable just because it was first. Bitcoin is popular and valuable because of its features. Bitcoin price is a big factor why it's more valuable than others. I think the crypto market is running successfully because of bitcoin. People are getting interested in crypto because of bitcoin.
If we look around, no other crypto can touch bitcoin. Bitcoin is giving us more opportunities and better facilities that other crypto. Even Ethereum can pass over bitcoin. Bitcoin is the king of cryptocurrencies for its features and no other coin can cross it.
If we look around, no other crypto can touch bitcoin. Bitcoin is giving us more opportunities and better facilities that other crypto. Even Ethereum can pass over bitcoin. Bitcoin is the king of cryptocurrencies for its features and no other coin can cross it.
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