Long term argument for bitcoin - page 21.

darkangel

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Quote from: Gouverne on June 27, 2017, 09:31:29 AM

Hello,

Most of you are confident with the long term for Bitcoin. Yet some altcoins has the same features so why are you so confident about bitcoin and not about litecoin instead?

I compared them and approximatevily the same assets!
The only difference is that bitcoin was the first, is it that important?

Why do you trust bitcoin? Do you want to earn yourself some money or otherwise make money or own a property. When you have a goal and learn about bicoin, then be assured about it. This is a digital currency, not a virtual currency that people think. When you want to have some money to spend, you can sell a bitcoin that you hold and convert into cash or can participate in translations to make money. And work hard every day.

Nathland

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The answer is simple. Bitcoin without any doubt is the most popular cryptocurrency out there which makes it the best crypto to invest in. Bitcoin is the oldest cryptocurrency and is one of the fastest growing investment. Bitcoin can yield maximum returns in long run.

LeoEspansq

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Quote from: Anfisman on July 08, 2017, 11:56:56 PM

I thought I chose bitcoin because it was the first and indeed very promising, maybe now many crypto currencies exist in the internet world, but they are of course in some beside different from bitcoin, now peoples have known Bitcoin extensively, so they would prefer bitcoin Than others. And one of the guarantees of crypto currency is that they have been legal to use, and currently bitcoins have been legal in some countries. So bitcoin is still better for me. Wink

Bitcoin is now popular and best cryptocurrency, so its majority and chooses the long term. But no one can say exactly what will happen to him in a few years, so some people buy other currencies for subsistence.

freeyourmind

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Adoption is key. Same reason why useless USD fiat is #1 over other useless fiat currencies. It's just accepted by more of the world (global reserve).

At the end of the day, I think that the asset based crypto's like Golem or Angur or Storj will eventually become very popular, since there is a purpose in the processing power dedicated to it. Bitcoin requires a lot of processing power, which doesn't have an underlying purpose, other than being secure.

Anfisman

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I thought I chose bitcoin because it was the first and indeed very promising, maybe now many crypto currencies exist in the internet world, but they are of course in some beside different from bitcoin, now peoples have known Bitcoin extensively, so they would prefer bitcoin Than others. And one of the guarantees of crypto currency is that they have been legal to use, and currently bitcoins have been legal in some countries. So bitcoin is still better for me. Wink

eann014

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Yes it is an important factor since bitcoin is the first and leading crypto-currencies that is why a lot people are confident that bitcoin will get on a long term and can be alive in a long run, for sure it will have a good value for the future. Maybe litecoin needs to have more advertisement to do. But as of now bitcoin is recommended as many people are using it and they know how bitcoin they do a lot.

omonuyak

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Bitcoin been the first is very important! Currently bitcoin is servings as a gold standard for others altcoin. Bitcoin has face alot of challenge and overcome them All because of one thing " the owner or founder was not greedy" not just like owners of different ICO or new project we are having today. Major of them are selfish and interest on personal profit instead of collective benefits.

Yuhee

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Quote from: deisik on July 01, 2017, 09:04:11 AM

Quote from: cafucafucafu on June 30, 2017, 11:23:24 PM

Not sure if you are aware of this either, but a lot of the hype recently is generated from ICOs which are designed to benefit the founders and the core team of an altcoin. The fact that altcoins are for-profit and bitcoin is not, makes a huge difference as well. No matter how advanced the technology is, people will always only need bitcoin. These are all arguments as to why you should hold btc instead of alts in the long term. People thought litecoins were a good long term bet, they thought namecoin and peercoin were groundbreaking as well, but ultimately they all fell

Litecoins still seem to be a good bet

Especially if things go decisively wrong for Bitcoin (which is far from being completely impossible). Aside from that, I can't agree that "people will always only need bitcoin", no matter what. As to me, it is not so much about technology (the same Litecoin is already more advanced than Bitcoin), as about profits. People will need Bitcoin only as long as it continues to bring profits in the long run. If it fails and some other coin fills the void (i.e. starts to consistently bring more profits than Bitcoin), folks will quickly forget about Bitcoin. Don't get delusional about that

And frankly btc is great but it has also served as the starting grounds for any cryptocurrencies out there. Lets face it everyday we are advancing specially technology. We cant simple avoid some facts that btc will not always be number 1 but creators of btc will always have the upper hand. Its not the technology thats gonna make it famous but the creators themselves. Lets not just focus on creation, try knowing the creators first for smarter approaches towards anything.

Gouverne

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Recently is seemed the son is gathering more and more people. As i can see there are more and more people thinking about litecoin right now and it is surging !

guoyu78

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Quote from: KennyR on June 27, 2017, 10:23:30 AM

Bitcoin is a successful experiment, but litecoin just has reached the ground. In the start itself it gave a threatening to the bitcoin. But it was with a short time period was overcome by bitcoin avoiding the splitting and other issues. In this way think wise and decide which one you'll be selecting to be on the safe side.

with Litecoin will never reach to the power of bitcoin you know why. It seems like you are comparing son his father. Threading is given by everyone who are the competitors. Competitors never want to see that his opponent going well therefore litecoin started threatening to bitcoin.Because Litecoin what to take a place of bitcoin and now bitcoin is totally safe.

deisik

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Quote from: cafucafucafu on June 30, 2017, 11:23:24 PM

Not sure if you are aware of this either, but a lot of the hype recently is generated from ICOs which are designed to benefit the founders and the core team of an altcoin. The fact that altcoins are for-profit and bitcoin is not, makes a huge difference as well. No matter how advanced the technology is, people will always only need bitcoin. These are all arguments as to why you should hold btc instead of alts in the long term. People thought litecoins were a good long term bet, they thought namecoin and peercoin were groundbreaking as well, but ultimately they all fell

Litecoins still seem to be a good bet

Especially if things go decisively wrong for Bitcoin (which is far from being completely impossible). Aside from that, I can't agree that "people will always only need bitcoin", no matter what. As to me, it is not so much about technology (the same Litecoin is already more advanced than Bitcoin), as about profits. People will need Bitcoin only as long as it continues to bring profits in the long run. If it fails and some other coin fills the void (i.e. starts to consistently bring more profits than Bitcoin), folks will quickly forget about Bitcoin. Don't get delusional about that

Yuuto

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Quote from: Gouverne on June 27, 2017, 09:31:29 AM

Hello,

Most of you are confident with the long term for Bitcoin. Yet some altcoins has the same features so why are you so confident about bitcoin and not about litecoin instead?

I compared them and approximatevily the same assets!
The only difference is that bitcoin was the first, is it that important?

The exact same reason why people are reluctant to move to bitcoin.

To break people's habits and beliefs in something that they have touched first is extremely hard. People have used fiat since they were growing up and it's probably the first currency that they've ever used. Therefore, trying to sell the idea of bitcoin to someone can be hard, especially to older people.

But the major difference is that bitcoin is groundbreaking technology. It is the first functional cryptocurrency to be based on blockchain technology. All the altcoins are just derived from the idea of bitcoin. And plus, they'll always be called an "altcoin", instead of a much nicer name of bitcoin.

In the long term, bitcoin price will rise steadily. Though in hte short term you might see major fluctuations from one halving to another.

cafucafucafu

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Quote from: Gouverne on June 27, 2017, 09:31:29 AM

Hello,

Most of you are confident with the long term for Bitcoin. Yet some altcoins has the same features so why are you so confident about bitcoin and not about litecoin instead?

I compared them and approximatevily the same assets!
The only difference is that bitcoin was the first, is it that important?

First of all, bitcoin has the most trust out of every single altcoin. Altcoins are essentially a zero sum overall game that speculators play, because it is so volatile. Bitcoin's price volatility is already criticized by a lot of bitcoin skeptics, and altcoins' volatility is just on a different level.

Being teh first cryptocurrency around means that bitcoin has the largest user base, probably many times more than Ethereum which is the 2nd largest crypto by market cap. Altcoins wouldn't exist without bitcoin, their idea is all based off bitcoin's.

Not sure if you are aware of this either, but a lot of the hype recently is generated from ICOs which are designed to benefit the founders and the core team of an altcoin. The fact that altcoins are for-profit and bitcoin is not, makes a huge difference as well. No matter how advanced the technology is, people will always only need bitcoin. These are all arguments as to why you should hold btc instead of alts in the long term. People thought litecoins were a good long term bet, they thought namecoin and peercoin were groundbreaking as well, but ultimately they all fell.

bit1

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Quote from: Gouverne on June 27, 2017, 09:31:29 AM

Hello,

Most of you are confident with the long term for Bitcoin. Yet some altcoins has the same features so why are you so confident about bitcoin and not about litecoin instead?

I compared them and approximatevily the same assets!
The only difference is that bitcoin was the first, is it that important?

Without discussing technical differences the users base is much broader than any other including the one you mention, in that sense everyone can have his own argument and probably most of them will coincide on the same. Hence users base might be a good argument.

Kevin77

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Quote from: TrumpD on June 28, 2017, 09:27:57 AM

Most alt coins are unknown, some may even possess better characteristics compared to bitcoin but due to low adoption and usage by the public they may just die off. Bitcoin has done the hard part by dragging itself from obscurity. The rest are only riding it's waves. A few like monero, eth, dash will break through.

I don’t think monero and dash could be the one who can come to cross the way of bitcoin nor do I think ETC is much stronger. Bitcoin is the first one in bringing the new technology and making people accept the crypto technology. The rest are just copying bitcoin but are not much trusted for the transaction or to be held for a long time. Bitcoin have made its way to success and is quite smartly crossing all the hurdles.

bouren

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Quote from: Gouverne on June 27, 2017, 09:31:29 AM

Hello,

Most of you are confident with the long term for Bitcoin. Yet some altcoins has the same features so why are you so confident about bitcoin and not about litecoin instead?

I compared them and approximatevily the same assets!
The only difference is that bitcoin was the first, is it that important?

One need to understand nothing in this world is immortal. Bitcoin being an IT product which is very volatile industry is no exception. It may happen in future that bitcoin would demote by any other cryptocurrency or some better technology.
"Motorola was first company to invent mobile but it is not the most famous at present."

Barbut

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Quote from: GreenBits on June 30, 2017, 07:46:55 AM

Quote from: BingoDog on June 30, 2017, 06:55:15 AM

If bitcoin overcomes current issues it has very good perspective for the future. It will stay the strongest cryptocurrency with highest value. Adoption will rise and so will the price, also some countries will regulate bitcoin or at least try to regulate it and to my opinion banks will be interested for Bitcoin too.

What you said, but not Bitcoin. Maybe Ripple or Ethereum Wink

I agree it will most likely retain the highest price, but I think the crypto that corporate America adopts will be one of its own inception. Bitcoin is great, established, and trusted. But the very nature of bitcoin makes banks and government wary of it (pseudonymous, non reversible, non regulatable and deflationary). We will see our blockchain in everything, give it a decade. But bitcoin may not be the king at that point.

And I'm not mad at that. As long as it persists, and confidence in cryptos grow, our investments will be safe Wink

Your argument 'the crypto that corporate America adopts' have a deep logic, I never thought about it in this way. Strong countries can do many things on blockchain, bitcoin is the first and now we have a lot of different coins, what actually stops some country to make it's own coins, and with money that corporate America poses and with power to force companies, banks and people to use that coin they can dominate on the scene probably like they dominate with dollars now. Why did you mention ripple, that coins is very cheap at the moment to be compared with ETH or BTC, at list I think that.

v0rtecxz

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Why I choose bitcoin other than coins, not without alasa I choose bitcoin because bitcoin can be used as a benchmark for every other coin to be seen more clearly the price in the market, and bitcoin is always stable in price increase in the market, We know now for the development of very good bitcoin from year to year, some other coins are not as good as bitcoin, and limited stock of bitcoin for now is not easy to get bitcoin, that's why many of them still believe And hold bitcoin for savings or investment long-term

jovs

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Quote from: mudiko on June 27, 2017, 09:51:50 AM

The answer is simple. Bitcoin is widely used and it is what makes bitcoin more valuable than other crypto-currencies. Bitcoin is better tested on higher volumes and in a longer period of time which makes bitcoin more trustworthy than other crypto-currencies. On paper it is easy to say that all coins are similar, but one line of bad code can be a huge disadvantage and the experiences with bitcoin made it clear that we would not have easily a major problem. To conclude coins don't really produce anything. Their value is based on trust and usage.

Yes in fact the system of bitcoin is actually the best reason for people to have a long term basis in bitcoin. We all know that bitcoin is the most reliable crpto-currecny ever exist because its the first coin that established a name and price in the market. So it proven and tested for transaction in volume and stock. So the reality is bitcoin can be developed more as more people will support and trust its long term system making it as a well developed currency in the near future.

audaciousbeing

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Quote from: Gouverne on June 27, 2017, 09:31:29 AM

Hello,

Most of you are confident with the long term for Bitcoin. Yet some altcoins has the same features so why are you so confident about bitcoin and not about litecoin instead?

I compared them and approximatevily the same assets!
The only difference is that bitcoin was the first, is it that important?

Your comparison of the two and arriving at the conclusion is based on what you wanted to believe but that cannot be the only factors why others prefer on to the other. In my own case, when I started with crypto currency, and I was exposed to faucets, did I see any LTC faucets? NO but only bitcoin, did I get involved on LTC dominated forum? No but BTC now tell me, if I want to keep my investment and I have to choose of the two, which one will I go for? Definitely bitcoin.

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