Just because Bitcoin was the first, it is so valuable. It is worth considering that of all known cryptocurrency projects, Bitcoin is the only truly decentralized coin, unlike many other famous coins.
Topic: Is Bitcoin so valuable just because it was first? - page 4. (Read 1432 times)
The reason why bitcoin is very valuable, because bitcoin has a system that is very much needed at this time, it is not wrong if everyone wants to have bitcoin, even though it is very difficult to have it, but they never doubt about the system that is in bitcoin and strengthened by blockchain system ...
Bitcoin has such value because the coin is a director in the entire market. Incredibly a lot of people own bitcoin and for this reason, this coin is the price generator of all coins. Maybe further some kind of coin can replace Bitcoin, but for this, millions of people have to trust in it and buy it. Well, in addition, do not forget that Bitcoin is the creation of Satoshi Nakamoto, whose identity is unknown. Because in the world there are no controls on this coin.
No, but because it was so easy to copy and slightly modify the source code and rename it by anyone with even less than basic coding skills.
Everything that getting into existence for the very first time gains more importance as well valued high. This is the classic law, and same has got applied for bitcoin. The value got generated upon the demand to the supply, during bitcoin's early days it wasn't valued big. As days passed the demand got increased and to the same the valuation grew higher and higher with time.
Bitcoin has benefits of being first besides that its decentralized nature and underlying technology increases the acceptance level which also add-up the brownie points in its value
In my opinion, bitcoin is very valuable as a digital currency. Because bitcoin is the main thing in the crypto curenncy world, if it's a matter of development so people will leave this bitcoin, maybe this will happen sometime later but this won't happen anytime soon. this, bitcoin still has a lot of devotees
trust in bitcoin is getting higher, especially with limited supply, making this coin so valuable. it is not easy to beat the market capitalization of bitcoin, so this coin is a reference for long-term investment, because it is safest compared to other coinsWell, indeed, bitcoin is not just the first coin but bitcoin is another crypto basis. Moreover, bitcoin has had trust from various circles, it is very difficult to replace. Take for example Ethereum, why is ethereum the first altcoin? yes, because this coin has high trust with the dApp service, well, therefore trust affects everything in crypto. Similar to BNB, they have good trust held by investors and traders.
Ethereum is not the "first" altcoin. It is the most popular altcoin currently in circulation, but the first altcoin was Namecoin (which was created in 2011, a few months before the creation of Litecoin). Ethereum is relatively young when compared to these alts such as NMC and LTC, as it was created only in 2015. But the advantage with Ethereum was that tokens could be created based on the ERC platform, and therefore it gained a lot of popularity during the ICO boom of 2016-17. It is another story that the vast majority of these ICO projects didn't had any practical uses. Right now, the main purpose of cryptocurrency is to act as a store of value. And users are preferring Bitcoin because the alts had copied the concept from Bitcoin (although the technology may be different).
BTW, you can check the ANN thread for LTC here: https://bitcointalksearch.org/topic/ann-litecoin-a-lite-version-of-bitcoin-launched-47417
They had initially described Litecoin as a "lite version of Bitcoin".
In my opinion, bitcoin is very valuable as a digital currency. Because bitcoin is the main thing in the crypto curenncy world, if it's a matter of development so people will leave this bitcoin, maybe this will happen sometime later but this won't happen anytime soon. this, bitcoin still has a lot of devotees
The real value of bitcoins goes beyond their market value, and they should not be viewed only as a safe haven to preserve value. The current fall in prices, of course, was painful for many who relied only on the rise in prices of digital currencies. However, the above comparison between a cryptocurrency bubble and the collapse of dot-com shows that digital coins will survive only when they create proper blockchain ecosystems and become useful to people.
Thus, it must be understood that Satoshi did not create Bitcoin simply as a subject of market speculation - so that the value accumulated in the hands of only a few. Bitcoin was conceived as an alternative tool that allows the exchange of value between people, bypassing the monopoly of existing financial systems, and such a tool should be widely recognized.
Thus, it must be understood that Satoshi did not create Bitcoin simply as a subject of market speculation - so that the value accumulated in the hands of only a few. Bitcoin was conceived as an alternative tool that allows the exchange of value between people, bypassing the monopoly of existing financial systems, and such a tool should be widely recognized.
Bitcoin was very valuable because of its advanced and precious technology called Blockchain.
To be honest also, Ethereum has the ability to be sided with bitcoin but Ethereum is way far to bitcoin when calculating the gap. You didn't noticed the blockchain itself in bitcoin that's why it's the greatest and leading cryptocurrency of all. Ethereum is like bitcoin but with when talking about features and platform who adopted cryptocurrency, bitcoin is the best.
Well to be honest dude, there are some altcoins that are much more good and better than Bitcoin just like Ethereum.
But since Bitcoin was established the big community in the entire world, now wonder why lot of investors embraced it maybe
because of its unique features it has that's all what I had noticed.
But since Bitcoin was established the big community in the entire world, now wonder why lot of investors embraced it maybe
because of its unique features it has that's all what I had noticed.
To be honest also, Ethereum has the ability to be sided with bitcoin but Ethereum is way far to bitcoin when calculating the gap. You didn't noticed the blockchain itself in bitcoin that's why it's the greatest and leading cryptocurrency of all. Ethereum is like bitcoin but with when talking about features and platform who adopted cryptocurrency, bitcoin is the best.
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?
Well to be honest dude, there are some altcoins that are much more good and better than Bitcoin just like Ethereum.
But since Bitcoin was established the big community in the entire world, now wonder why lot of investors embraced it maybe
because of its unique features it has that's all what I had noticed.
We have many examples in IT industry that if someone was first in something, like Microsoft in computers, Apple in I phone etc. that afterwards it was difficult to remove them from the top.
People get used to their products and habits are most difficult to change.
Bitcoin is also man entry point for the crypto world and well known because of media reports.
Yeah it can be partially true, but it's not always like that, if the product has no innovation, something new will definitely replace it, it is business competition law. Look at Nokia, Blackberry, and other products they are the first version but have no innovation so they are abandoned. People get used to their products and habits are most difficult to change.
Bitcoin is also man entry point for the crypto world and well known because of media reports.
In fact, one of the reasons, really, is that bitcoin was the first cryptocurrency. The first created cryptocurrency and the first cryptocurrency that people believed
yes, that is one of the other reason. because it first, make bitcoin have big value. many people buy and sell and its favored, used by a lot of people around the world though government not accept as payment (mostly they use as digital asset). bitcoin give best service like fast when you sent your coin to the other address, low fee make people agree to use bitcoin
At some point yes, it is valuable because it was the first but that's not all, bitcoin has other properties that made people want to use bitcoin and trust it, bitcoin has its share of ups and downs like other altcoins but bitcoin has been proven and tested for years now that is why it is more valuable than others.
Yea I think that this is really the conclusion I have come to after thinking about it for a while. Bitcoin's value didn't solely come from the fact that it was first, but being first certainly helped. Plus I have a bit of a negative view of Bitcoin right now, but in reality it is a solid system that was built to last.
The basic concept of a decentralized cryptocurrency using blockchain platform was first used for Bitcoin. All the coins that came after Bitcoin used the same basic concept, with some modifications. Some of these coins may be more advanced than Bitcoin as far as their technology is concerned. However, the purpose and intention is the same and the differences are not big enough to replace BTC.
Good point, though new projects promise to have innovated system but the concept still the same and people who use to work with crypto will continue to support bitcoin instead of taking chances with other crypto around, maybe some might tried but majorities will keep bitcoin since it's already proven its worth from this industry, bitcoin being the first to be trusted by most investors keeps the position being number one.Well, indeed, bitcoin is not just the first coin but bitcoin is another crypto basis. Moreover, bitcoin has had trust from various circles, it is very difficult to replace. Take for example Ethereum, why is ethereum the first altcoin? yes, because this coin has high trust with the dApp service, well, therefore trust affects everything in crypto. Similar to BNB, they have good trust held by investors and traders.
in general, the duration of time for transaction confirmation requires 10 to 30 minutes. if the transaction is high, it will not take a long time.
in my opinion, BTC fluctuations make popularity increase every time and create a mainstream in every market. profit from volatility is greater than transaction costs, so until today, BTC still has a large volume.
We can also say that the hype is really strong with bitcoin, and somehow bitcoin being hailed because he started this revolution, he started to help people and until now bitcoin keeps on working hard to attract new investors. Being a top coin is not easy, I’m happy that until now bitcoin is on top. in my opinion, BTC fluctuations make popularity increase every time and create a mainstream in every market. profit from volatility is greater than transaction costs, so until today, BTC still has a large volume.
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?
No,bitcoin is so valuable because it has the best and most secure blockchain protocol.I'm not a programming expert,but this is the main reason.The second reason is that bitcoin is the most well known cryptocurrency(most because it's the first one),so I can partially agree with your theory,but 'being the first' doesn't always mean that bitcoin is the best.
in general, the duration of time for transaction confirmation requires 10 to 30 minutes. if the transaction is high, it will not take a long time.
in my opinion, BTC fluctuations make popularity increase every time and create a mainstream in every market. profit from volatility is greater than transaction costs, so until today, BTC still has a large volume.
in my opinion, BTC fluctuations make popularity increase every time and create a mainstream in every market. profit from volatility is greater than transaction costs, so until today, BTC still has a large volume.
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