Long term argument for bitcoin - page 22.

GreenBits

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Quote from: BingoDog on June 30, 2017, 07:55:15 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

BingoDog

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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.

zulkarnaen

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Indeed,bitcoin has a good potential if compared with altcoin primarily as an investment in the future, even today some countries have adopted bitcoin as a digital currency that have to legality and has a function similar to the real currency, this certainly gives impact Positive for development of bitcoin in the future.

hajimasan

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Quote from: Gouverne on June 27, 2017, 10:31:29 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?

Yeah , I will also say that Bitcoin is anesthesiology option for the long term investment , it is because we have trust with the Bitcoin then with any other coin .
Bitcoin was the first coin which entered in the internet world and after that many other useless coins enter .
So Bitcoin has a big support of the investors and big secured algorithm that making the Bitcoin separate from other coins .
No doubt that other coins like doge , litecoin , blackxcoin , ripple , monero , 1337 , rdd existing from long ago and also have better technology but still they are not growing , I mean investors in trading are not going for such types of the coin .
So here we should hold Bitcoin only because people are using more than any other coins .

cjnmoh

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Not only the Bitcoin is a value growth for investing but now a days several other altcoin also in the way of child stage that was in bitcoinsome other years back also. So for now Eth is good bet.

deisik

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Quote from: pooya87 on June 30, 2017, 12:42:56 AM

when you talk about bitcoin versus specific altcoin like litecoin there are still some minor issues but in the end it is all about the adoption. bitcoin has it and litecoin doesn't. that is why Charlie Lee is hard at work these days trying to advertise litecoin to others and make them adopt it. and as a coin gains real world adoption and starts being used more by merchants, starts processing more transactions and most importantly when it went under attack for 3-8 years and survived then it can be a valid competition

This is not the only way to become popular

It is likely the best way to get there in an absolute sense (i.e. without taking into account the competitors), but so far even Bitcoin itself couldn't make it. The other way is pretty much along the same way as Bitcoin itself got to the top, and (what is more important) managed to stay there. I refer to its value which it received via pure speculation (as opposed to the adoption by real economy, i.e. as a means of payment by merchants). In this way, Litecoin (since we talk about it here) doen't need all that if its aim is just to take over Bitcoin. Technically, to do that it, it should just switch speculative money flows from Bitcoin to itself, i.e. start to receive more cash (or just "outperform" Bitcoin here). If more money gets poured into it over long enough timeframe, it will become more popular than Bitcoin purely as a speculative asset (that's what Bitcoin itself is about right now). This is sort of a shortcut to popularity

coynedterm

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Quote from: Gouverne on June 27, 2017, 10:31:29 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?

Actually long term investment are more better when we put our money in those things which are more secure , more reliable , more safe , and also have a better technology algorithm .And also with this a big responsibility also a big matter for users.
Here you can take the example of the ETH coin that It is increasing , but still you should see what happened in the start of this week .
And many bad news came in the market ( since eth is safe and secure ) and now it came at original trust with the holders .
So here we have more trust with btc then in eth , dash or in another coins ( since most of them are safe like the Bitcoin ) .
So we always prefer to use Bitcoin for long term investment and also ita use increasing and legalisation in country are only for Bitcoin not for every coin or altcoins .

Taskford

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Quote from: Kronos21 on June 29, 2017, 02:16:07 PM

The cryptocurrency market could be anything. The value of these currencies is determined by demand. Bitcoin was the first and therefore the demand is more after the price increase of bitcoin transaction, the situation may change. This is assuming that we do not yet see the active struggle of national currencies with cryptocurrencies.

Yes, its the demand of bitcoin differs from other altcoins.
There's a high demand nowadays of bitcoin but limited in supply while other altcoins are low demand but high in supply because of this the rate of btc is affected.
Therefore bitcoin is the top cryptocurrency not to mention its establish platform.

pooya87

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when you talk about bitcoin versus the altcoins in general it is about how most of these altcoins are flawed and have many bugs. you can see the noisiest coin around called ethereum and how flawed it is and how the transactions have all been stuck for over a week and lots of others problems that this and many other altcoins have.

when you talk about bitcoin versus specific altcoin like litecoin there are still some minor issues but in the end it is all about the adoption. bitcoin has it and litecoin doesn't. that is why Charlie Lee is hard at work these days trying to advertise litecoin to others and make them adopt it. and as a coin gains real world adoption and starts being used more by merchants, starts processing more transactions and most importantly when it went under attack for 3-8 years and survived then it can be a valid competition.

Sled

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Quote from: MMA on June 29, 2017, 07:17:50 PM

Quote from: Kronos21 on June 29, 2017, 02:16:07 PM

The cryptocurrency market could be anything. The value of these currencies is determined by demand. Bitcoin was the first and therefore the demand is more after the price increase of bitcoin transaction, the situation may change. This is assuming that we do not yet see the active struggle of national currencies with cryptocurrencies.

but we can hope that the situation will be in favour of bitcoin, because of the interest of the people, the interest of the people is increasing from time to time and hope that with the passage of time more and more people will start taking interest in bitcoin which will increase the popularity of bitcoin more. so we need to invest more money in bitcoin as its price is expected to increase more.

Bitcoin will still be the king in the market and even there is a lot of coins that can be a great competitor for bitcoin, it will not become easy for them to defeat or dethrone bitcoin because people are only focusing on what is on the top and that is bitcoin so i think it will take a lot more years before we can see an altcoin that is close to the bitcoin.

MMA

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Quote from: Kronos21 on June 29, 2017, 02:16:07 PM

The cryptocurrency market could be anything. The value of these currencies is determined by demand. Bitcoin was the first and therefore the demand is more after the price increase of bitcoin transaction, the situation may change. This is assuming that we do not yet see the active struggle of national currencies with cryptocurrencies.

but we can hope that the situation will be in favour of bitcoin, because of the interest of the people, the interest of the people is increasing from time to time and hope that with the passage of time more and more people will start taking interest in bitcoin which will increase the popularity of bitcoin more. so we need to invest more money in bitcoin as its price is expected to increase more.

Kronos21

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The cryptocurrency market could be anything. The value of these currencies is determined by demand. Bitcoin was the first and therefore the demand is more after the price increase of bitcoin transaction, the situation may change. This is assuming that we do not yet see the active struggle of national currencies with cryptocurrencies.

deisik

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Quote from: Rahar02 on June 29, 2017, 11:55:08 AM

Quote from: deisik on June 29, 2017, 06:20:39 AM

Being the mother (or father) doesn't mean that it will always be at the top

As I said above, many altcoins are technically better than Bitcoin, but this alone doesn't guarantee their popularity since Bitcoin is popular not because of its technical edge (there is none), but simply because it happens to be the most popular coin as a means of speculation. And in this regard specifically, the first comer is the first to receive most of popularity and success (that basically explains why Bitcoin is still No. 1 even if it is technically inferior to some coins). But this cuts both ways, apparently, i.e. if Bitcoin loses its appeal as a speculative asset, for example, it starts bringing constant losses while some other coin gradually rises in price despite Bitcoin going down, Bitcoin will quickly lose its popularity. This is the real thing which every Bitcoin user should remember

The answer still : first one become more popular and trusted than others, because its decentralized system even though there are a lot of altcoins copied this idea. And yes, if bitcoin start to fall down, altcoins will follow to decline as well, because people see it as the standard of cryptocurrencies. Altcoins could exceed bitcoin if the price could reach Bitcoin level, like $2500 right now, but that's hard to achieved due to people trade altcoins to get bitcoin in the end, simply because bitcoin more popular and worth more than others.

I don't think this is actually required

Price as such is not a very good metric on its own. For example, Bitcoin's monetary supply equals 21M coins while Litecoin's 4 times as much, i.e. 84M coins, therefore, to be on equal terms with Bitcoin (provided the same number of coins is circulating), Litecoin should cost around 500 dollars per coin (with Bitcoin at 2,500). but even this monetary supply against price parity is ultimately irrelevant. What is really relevant and decisive here is how many dollars a coin is able to attract. In this way, if Litecoin (just an example) starts to attract more dollars than Bitcoin and this is not a one-off event, then Bitcoin is set to lose in due course where it is at its best right now

mrcash02

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If we look Bitcoin history since it was created it's worthing on long term even more and the AltCoins pattern is the same since it was created too (always in second plan while Bitcoin rules). Bitcoin have built reputation, smart investors, developers are interested on it, maybe because when they started having interest in Crypto-Currency, they chose Bitcoin as it was the first Crypto-Currency and all the rest was like a copy of it.

I see Bitcoin like Coca Cola and all the AltCoins like the another sodas. They are all soda, but Coke has something special, Bitcoin the same.

Rahar02

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Quote from: deisik on June 29, 2017, 06:20:39 AM

Quote from: MMA on June 28, 2017, 04:22:59 PM

Quote from: Taki on June 28, 2017, 12:44:33 PM

I think it's not so important to be the first. There are many coins which are more developed in technical sense than bitcoin. But keep in mid that bitcoin started it's "career" almost 10 years ago and LTC and ETH are kids if to compare them with BTC. I am sure one or even some of altcoins may replace bitcoin one day and get even more success, but I can't tell you now when exactly it will happen.

i do not think that there is any reason that compare bitcoin to nay other altcion. bitcoin is in fact the mother of all the coins, and all the people are revolving around bitcoin, even those people who are investing their money in altcoin for trading purpose but still they are using bitcoin for trading altcoin therefore bitcoin is the number one crypto currency and will remain as number one for ever

Being the mother (or father) doesn't mean that it will always be at the top

As I said above, many altcoins are technically better than Bitcoin, but this alone doesn't guarantee their popularity since Bitcoin is popular not because of its technical edge (there is none), but simply because it happens to be the most popular coin as a means of speculation. And in this regard specifically, the first comer is the first to receive most of popularity and success (that basically explains why Bitcoin is still No. 1 even if it is technically inferior to some coins). But this cuts both ways, apparently, i.e. if Bitcoin loses its appeal as a speculative asset, for example, it starts bringing constant losses while some other coin gradually rises in price despite Bitcoin going down, Bitcoin will quickly lose its popularity. This is the real thing which every Bitcoin user should remember

The answer still : first one become more popular and trusted than others, because its decentralized system even though there are a lot of altcoins copied this idea. And yes, if bitcoin start to fall down, altcoins will follow to decline as well, because people see it as the standard of cryptocurrencies. Altcoins could exceed bitcoin if the price could reach Bitcoin level, like $2500 right now, but that's hard to achieved due to people trade altcoins to get bitcoin in the end, simply because bitcoin more popular and worth more than others.

calandra78

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Quote from: btccashacc on June 27, 2017, 07:38:41 PM

Quote from: Siren on June 27, 2017, 04:36:55 PM

Quote from: Gouverne on June 27, 2017, 10:31:29 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?

I think being the first has its perks and others is just an alternative. Some may have copied bitcoin design and improved it a lot but bitcoin has already established and became the dominant crypto's ever. Of course, people will also go for the original and not the copy cat or shall we shall fake. And now the prices is so high that not even one single copy cat coin can ever matched it. Well some have tried, but the flippening did not happen.

exactly, people always looking for the original and original always better than the copy cat, that's the reason why people prefer to choose bitcoin as a long term investment instead of investing on litecoin. litecoin might be better than bitcoin if it can offering something different feature that community need like other altcoins did, now litecoin is a good alternative for sending small amount since bitcoin isn't suited for small transaction.

actually I think also so we get something original then it will be better and good impact anyway. bitcoin is great for long-term investment because of the bitcoin very profitable. but for the litecoin, but also great for litecoin very nice for a small transaction compared with bitcoin. for now litecoin is indeed great for particular communities but one day maybe bitcoin will be very useful to the wider community with a large transaction.

deisik

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Quote from: MMA on June 28, 2017, 04:22:59 PM

Quote from: Taki on June 28, 2017, 12:44:33 PM

I think it's not so important to be the first. There are many coins which are more developed in technical sense than bitcoin. But keep in mid that bitcoin started it's "career" almost 10 years ago and LTC and ETH are kids if to compare them with BTC. I am sure one or even some of altcoins may replace bitcoin one day and get even more success, but I can't tell you now when exactly it will happen.

i do not think that there is any reason that compare bitcoin to nay other altcion. bitcoin is in fact the mother of all the coins, and all the people are revolving around bitcoin, even those people who are investing their money in altcoin for trading purpose but still they are using bitcoin for trading altcoin therefore bitcoin is the number one crypto currency and will remain as number one for ever

Being the mother (or father) doesn't mean that it will always be at the top

As I said above, many altcoins are technically better than Bitcoin, but this alone doesn't guarantee their popularity since Bitcoin is popular not because of its technical edge (there is none), but simply because it happens to be the most popular coin as a means of speculation. And in this regard specifically, the first comer is the first to receive most of popularity and success (that basically explains why Bitcoin is still No. 1 even if it is technically inferior to some coins). But this cuts both ways, apparently, i.e. if Bitcoin loses its appeal as a speculative asset, for example, it starts bringing constant losses while some other coin gradually rises in price despite Bitcoin going down, Bitcoin will quickly lose its popularity. This is the real thing which every Bitcoin user should remember

hase0278

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Quote from: Gouverne on June 27, 2017, 10:31:29 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?

You are right about some altcoins having the same features about bitcoin. In fact, there are some that have better features when compared to bitcoin but people are more confident with the long term for bitcoin just because it has built it's trust and bitcoin has proven multiple times already that even if price goes down, it will go up again someday and other altcoins are only bitcoin copycats or just a hyped coin. Even if you compare bitcoin and other altcoins, bitcoin would still prevail at least for now. There is still a possibility that someday a new altcoin will dethrone bitcoin. That being said, I don't think it would be litecoin because it only got segwit implemented, nothing more and many altcoins are better than litecoin too.

GreenBits

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Quote from: Taki on June 28, 2017, 12:44:33 PM

I think it's not so important to be the first. There are many coins which are more developed in technical sense than bitcoin. But keep in mid that bitcoin started it's "career" almost 10 years ago and LTC and ETH are kids if to compare them with BTC. I am sure one or even some of altcoins may replace bitcoin one day and get even more success, but I can't tell you now when exactly it will happen.

With that being said, bitcoin kind of happened before the banks were aware of it, it crept up on everyone. Bitcoin is a goverment/bank nightmare; funds whizzing around not attached to socials, capital flight, and citizens hiding assets. In other words, hard to regulate. ETH and XRP are mutable in that regard.

Bitcoin is the oldest and most generally trusted blockchain; that's why it will always be here. But it won't necessarily be the most popular blockchain forever, that will be a corporate sponsored blockchain, and most likely Ethereum.

If Google makes a coin, ID drop bitcoin like a bad habit. Because Google and it's coffers simply wouldn't let that coin die.

youngagethinker

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Quote from: Gouverne on June 27, 2017, 10:31:29 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 scenario is that, when someone heard about cryptocurrencies for example he heard about etherium and thought curiosity of course he will know about Bitcoin too, and because Bitcoin has the most users and has the highest value then he will fall in love with btc and will research more about it and if he has money, he will invest it. Being first is always has a difference in the second, of course there are some cases that the newest version is always the best but btc gained trust and been the major cryptocurrency through the years, it is possible to beat that but it will be tough.
I'll be storing more btc.

Topic: Long term argument for bitcoin - page 22. (Read 5936 times)