Topic: Is there a reason why Bitcoin has to be the crypto in the future? - page 4. (Read 1595 times)
April 27, 2018, 06:58:40 PM
Simple answer: none. Bitcoin remains supreme over all crypto right now since it was the first to gain some form of value and acceptance over people. Aside from that, many people right still believes that bitcoin is the top cryptocurrency even though it lacks some fancy technologies and cool things which cryptocurrency has right now. It is also the most sought after cryptocurrency due to its value, and it's also the most famous cryptocurrency that people hear about. I for one thinks that once people got over bitcoin and the interest about it wane, it would die a pitiful death, though I don't see that coming even in the nearest future. There are a lot better cryptocurrency with better technology out there, sure, but people's eyes are on bitcoin right now. If it remained that way for decades to come, bitcoin's dominance would remain as is.
April 27, 2018, 06:54:32 PM
yes bitcoin has a reason why it is the future currency and it is the advantages we get from it.bitcoin transaction is very easy and faster transaction what we need in the future.
April 27, 2018, 06:49:28 PM
I think Bitcoin should already be a Crypto, because Bitcoin will ease the way in any payment transaction system.
And the programs that Bitcoin has made are very good at establishing all the people of this world in terms of work.
And the programs that Bitcoin has made are very good at establishing all the people of this world in terms of work.
April 27, 2018, 06:48:31 PM
I'm not very technical competent, and I will gladly listen to anyone who wants to explain anything.
I'm trying to think of why Bitcoin has to be the coin that lasts into the future.
I'm trying to think of why Bitcoin has to be the coin that lasts into the future.
Who says that bitcoin has to be the coin that lasts?
Why can't it be one of ten or twenty or fifty?
It should be! Each coin has a slightly different utility or structure. The variety keeps good competition. Bitcoin should be the "store of value" coin for the future, but the rest of the needs are up for grabs!
April 27, 2018, 06:37:01 PM
There's no overwhelming reason why bitcoin will remain the top dog, right now there are arguably superior technologies but none that are as well known or that (as you mentioned) are as well spread as bitcoin is.
With regards to the mining pools, you're right that they could collaborate and cause chaos for bitcoin, for example if they all stopped mining at once, but given the way that difficulty scales it would be resolved in time.
With regards to the mining pools, you're right that they could collaborate and cause chaos for bitcoin, for example if they all stopped mining at once, but given the way that difficulty scales it would be resolved in time.
April 27, 2018, 06:21:05 PM
I'm not very technical competent, and I will gladly listen to anyone who wants to explain anything.
I'm trying to think of why Bitcoin has to be the coin that lasts into the future.
The primary reason I can think is due to it being the first, and therefore it's in a way more scattered?
Any new mineable crypto could quickly and easily be overtaken by a major entity who could then potentially control the majority of it,
which would be problematic for a decentralized currency.
And a pre-mined crypto could never become the largest.
Of course due to Bitcoin being the most used and largest crypto, as well as being the #1 trading pair,
there's currently not a lot of genuine reason for everyone to transfer to another currency, even if for example speed is improved,
since to be fair, the majority of people are just holding their bitcoins and in general there's not that much need for speed at the current point in time?
However, nothing is very certain and I'd gladly hear more reason as to why Bitcoin would remain the largest.
Seeing the conflict between Bitcoin and Bitcoin Cash is really toxic for the community and adoption at a whole,
I'm not convinced why there could not be something which incorporates the best of various platforms(smart contracts, privacy etc all in one?)
It's difficult to imagine adoption on a global scale that somehow would involve using many various currencies to achieve different things,
even if there were a 'layer' on top to simplify it.
One argument I heard tho is that any up and coming crypto technology can theoretically be added into any existing crypto, so therefore,
it's hard to challenge Bitcoin, since being the largest, new technology can just be added on top, therefore making any up and coming crypto redundant?
One problem I'm not fully understanding is how centralized it actually is, seeing this picture:
While I understand that the miners making up the pool can stop mining, is this still not a threat to the network if the three largest pools could collaborate for control?
Partly considering the majority is chinese (less decentralized geographically(not sure if relevant)),
but they could technically ruin the network at any point?
I'm trying to think of why Bitcoin has to be the coin that lasts into the future.
The primary reason I can think is due to it being the first, and therefore it's in a way more scattered?
Any new mineable crypto could quickly and easily be overtaken by a major entity who could then potentially control the majority of it,
which would be problematic for a decentralized currency.
And a pre-mined crypto could never become the largest.
Of course due to Bitcoin being the most used and largest crypto, as well as being the #1 trading pair,
there's currently not a lot of genuine reason for everyone to transfer to another currency, even if for example speed is improved,
since to be fair, the majority of people are just holding their bitcoins and in general there's not that much need for speed at the current point in time?
However, nothing is very certain and I'd gladly hear more reason as to why Bitcoin would remain the largest.
Seeing the conflict between Bitcoin and Bitcoin Cash is really toxic for the community and adoption at a whole,
I'm not convinced why there could not be something which incorporates the best of various platforms(smart contracts, privacy etc all in one?)
It's difficult to imagine adoption on a global scale that somehow would involve using many various currencies to achieve different things,
even if there were a 'layer' on top to simplify it.
One argument I heard tho is that any up and coming crypto technology can theoretically be added into any existing crypto, so therefore,
it's hard to challenge Bitcoin, since being the largest, new technology can just be added on top, therefore making any up and coming crypto redundant?
One problem I'm not fully understanding is how centralized it actually is, seeing this picture:
While I understand that the miners making up the pool can stop mining, is this still not a threat to the network if the three largest pools could collaborate for control?
Partly considering the majority is chinese (less decentralized geographically(not sure if relevant)),
but they could technically ruin the network at any point?
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