Bitcoin already has a long history in cryptocurrencies. It is the basis of all cryptocurrencies. It is the mother of all cryptocurrencies. I think everyone wants BTC as their asset but at the current price people are choosing altcoins as their form of investment and they hope their altcoins will bring them a return. I think as long as you are investing in cryptocurrency then BTC is something you should have.
I do agree. Bitcoin=cryptocurrency, the limited supply, and total decentralization are two main reasons people chose Bitcoin over Alts for long-term investment and this has continued to aid the pricing and has kept Bitcoin above all other Cryptocurrencies. However, as you said, price is the major reason others cannot afford to invest in Bitcoin because they believe that amount would bring a higher return on Alts than Bitcoin. 
Topic: One reason why bitcoin keeps preeminent? (Read 150 times)
We all know that there are thousands of cryptocurrencies across the world such as Bitcoin, Litecoin, Etherium, Dogecoin etc. Among all of these bitcoin is always remains on top. I think one of the reason behind this is limited supply of bitcoin. Most of the cryptocurrencies have limited supply, bitcoin is one of them. Bitcoin is always on high demand but has a limited supply. When the demand raises, resulting higher prize. What will be the another reason, in your opinion.
The scarce supply is not bitcoin's preeminent, there are also many altcoins that have a finite supply. Supply is limited and if demand increases, prices will increase.
I think what sets bitcoin apart from the rest of cryptocurrencies is its decentralization. So far, there is no 2nd project that is completely decentralized like bitcoin, with no moderator, no company, and the operation of bitcoin is given to the community. Bitcoin's security is also a big plus, all altcoins have been hacked or had outages once or twice, but bitcoin has never had such a problem.
There are many factors why bitcoin has always been superior to other cryptocurrencies including its large enough adoption in several institutions and also several countries where it has been legalized, including bitcoin has a strong fund and a large community so that the volume on the market every day is quite large, many people have believe how saving money in bitcoin will be safe if they have a private key over their control.
Bitcoin has a lot of interest so that this makes it superior including in blockchain technology and they also make decentralization which is widely used, it is more appropriate for us to believe in bitcoin even though other coins continue to innovate in new developments but only our trust in bitcoin is higher.
Bitcoin has a lot of interest so that this makes it superior including in blockchain technology and they also make decentralization which is widely used, it is more appropriate for us to believe in bitcoin even though other coins continue to innovate in new developments but only our trust in bitcoin is higher.
-snip-
I agree that banking system making bitcoin a bit more liked and loved the way it could be because of fiat getting a lot worse is a point satoshi was trying to make to begin with. Why do we have something called bitcoin? Why was it even started? Because, one simple truth is the fact that fiat is controlled by mismanaged terrible governments of the world and that screws us over while making the rich people even richer.This is why we shouldn't trust fiat to get us richer and give us what we deserve one day. Today kids could work their entire lives and not be able to afford a simple need; house. So in the end, bitcoin gets more adoption and more interest since it is at least equal playing field.
We all know that there are thousands of cryptocurrencies across the world such as Bitcoin, Litecoin, Etherium, Dogecoin etc. Among all of these bitcoin is always remains on top. I think one of the reason behind this is limited supply of bitcoin. Most of the cryptocurrencies have limited supply, bitcoin is one of them. Bitcoin is always on high demand but has a limited supply. When the demand raises, resulting higher prize. What will be the another reason, in your opinion.
Aside from the "limited supply", Bitcoin is (and will always be) the "preeminent" cryptocurrency because it's the one coin that started this craze. None of the other crypto coins would've existed, if Satoshi didn't introduce Bitcoin to the world in the first place. Other coins may have better features, but they're simply "copies" of the original project (even if some of them aren't direct clones of Bitcoin). After all, every cryptocurrency uses Blockchain tech.
It's hard (if not impossible) for Bitcoin to lose its position as the #1 cryptocurrency in the world, unless a rival cryptocurrency comes up with a whole new tech that's superior to Blockchain (and I'm not talking about DAGs). It'll be decades, if not centuries, before this happens. Expect BTC to keep reaching new heights in the future. Who knows if early adopters like us will become filthy rich in the long run? Just my thoughts
-snip- What will be the another reason, in your opinion.
Certainly the limited supply is and remains one of the main reasons and the price driver par excellence. But the fact that Bitcoin is being used by more and more people and is also seen as a capital investment is certainly one reason. Another reason could also be the inflation of fiat money or the unpredictable banking system. All of these things are driving the price of bitcoin up, and there's certainly more. 
This is why we shouldn't trust fiat to get us richer and give us what we deserve one day. Today kids could work their entire lives and not be able to afford a simple need; house. So in the end, bitcoin gets more adoption and more interest since it is at least equal playing field.
We all know that there are thousands of cryptocurrencies across the world such as Bitcoin, Litecoin, Etherium, Dogecoin etc. Among all of these bitcoin is always remains on top. I think one of the reason behind this is limited supply of bitcoin. Most of the cryptocurrencies have limited supply, bitcoin is one of them. Bitcoin is always on high demand but has a limited supply. When the demand raises, resulting higher prize. What will be the another reason, in your opinion.
It's the first of it's kind, although there are similar ideas in the past, like digital or e-money or any precursor, it is the very first one to be successful, hence it is called the prime mover.
And with that, around mankind's history, the price mover will be to top, unless some new invention comes along to dethrone BTC. But so far it's hard to see it that way, BTC will remain on top, in my opinion.
The first impression is the last, that kinda stuff happened when bitcoin was first introduced into the market. No one had any other coin and all were hunting bitcoin only. With time, it was obvious that it got stuck in the minds of investors. Even I started with the bitcoin in late 2015-16 for that matter and by that time there were hundreds of altcoin projects already available at cents worth pricing. However, I always focused on bitcoin because it was the reason the crypto space was booming at that time.
Nonetheless, trust was another great factor in choosing bitcoin at that time. Other coins were just merely formed and we were interested to have quick profits from them but never considered them trusted assets at all. Basically, Time + Fame + Trust, everything gave birth to that wantedness of the bitcoin and have its possession. Could be reason its still getting accepted over other coins.
Nonetheless, trust was another great factor in choosing bitcoin at that time. Other coins were just merely formed and we were interested to have quick profits from them but never considered them trusted assets at all. Basically, Time + Fame + Trust, everything gave birth to that wantedness of the bitcoin and have its possession. Could be reason its still getting accepted over other coins.
If I personally see it because altcoin prices always follow the price of Bitcoin. Even though each altcoin has its own fundamentals. Altcoins also have technology that is no less good than bitcoin and has its own chain, but Bitcoin is still superior. I think because of that Bitcoin is the mother of all coins, the "trust" of all crypto traders must have the same average mindset, if Bitcoin is always their benchmark. So yes, if Bitcoin falls, they all also believe that other coins will fall too.
We all know that there are thousands of cryptocurrencies across the world such as Bitcoin, Litecoin, Etherium, Dogecoin etc. Among all of these bitcoin is always remains on top. I think one of the reason behind this is limited supply of bitcoin. Most of the cryptocurrencies have limited supply, bitcoin is one of them. Bitcoin is always on high demand but has a limited supply. When the demand raises, resulting higher prize. What will be the another reason, in your opinion.
There are many reasons if Bitcoin is always at the top but surely the most valid one is because there is no name behind this protocol, Bitcoin is the only one to be truly decentralized and the development will be carried out by the community as well as the choices will always be implemented if there is a majority. While for Ethereum you can always ask Vitalik for example.
We all know that there are thousands of cryptocurrencies across the world such as Bitcoin, Litecoin, Etherium, Dogecoin etc. Among all of these bitcoin is always remains on top. I think one of the reason behind this is limited supply of bitcoin. Most of the cryptocurrencies have limited supply, bitcoin is one of them. Bitcoin is always on high demand but has a limited supply. When the demand raises, resulting higher prize. What will be the another reason, in your opinion.
Bitcoin is the first decentralized cryptocurrency to establish it community. Also, it is the first cryptocurrency that successfully implement a decentralized blockchain. I do not think that it is the fixed supply that makes Bitcoin on top, I believe it is its features that keep on improving and upgrading despite the absence of its creator.
For whatever it is, I believe it is the first mover of the industry to decentralized finance that makes Bitcoin on top.
The answer is simple - it was the first and it was the only real deal. The rest is simply trying to copy bitcoin by adding their own twist to the mix, but bitcoin pure and simple, it doesn't need that addition to be good.
I'll give you an example from cooking. You must have a dish that's well known in your country and it's something that your mother and grandmother knew how to make and everybody loved it.
Nowadays, there are many chefs that want to renew the dish and slightly change it so it's not boring anymore, but all they get from it is that some people like it more, but the majority stays with the old one that their mother used to make. There will be that 10% that thinks chef Joe makes it better, but they will come home and want their mothers to make the traditional one. It remained popular for centuries and it's going to be there next year.
Why change something that works? Why take bitcoin and add PoS, premine, ICO, a foundation, a CEO and the rest of the board, centralized element, full anonymity, if the good old bitcoin has it all perfectly balanced?
That's why ETH will never be number one and it's the same for Ripple, Cardano, and all those other wannabes.
I'll give you an example from cooking. You must have a dish that's well known in your country and it's something that your mother and grandmother knew how to make and everybody loved it.
Nowadays, there are many chefs that want to renew the dish and slightly change it so it's not boring anymore, but all they get from it is that some people like it more, but the majority stays with the old one that their mother used to make. There will be that 10% that thinks chef Joe makes it better, but they will come home and want their mothers to make the traditional one. It remained popular for centuries and it's going to be there next year.
Why change something that works? Why take bitcoin and add PoS, premine, ICO, a foundation, a CEO and the rest of the board, centralized element, full anonymity, if the good old bitcoin has it all perfectly balanced?
That's why ETH will never be number one and it's the same for Ripple, Cardano, and all those other wannabes.
-snip- What will be the another reason, in your opinion.
Certainly the limited supply is and remains one of the main reasons and the price driver par excellence. But the fact that Bitcoin is being used by more and more people and is also seen as a capital investment is certainly one reason. Another reason could also be the inflation of fiat money or the unpredictable banking system. All of these things are driving the price of bitcoin up, and there's certainly more. 
Bitcoin already has a long history in cryptocurrencies. It is the basis of all cryptocurrencies. It is the mother of all cryptocurrencies. I think everyone wants BTC as their asset but at the current price people are choosing altcoins as their form of investment and they hope their altcoins will bring them a return. I think as long as you are investing in cryptocurrency then BTC is something you should have.
More sane people, just kidding lol.
Limited supply only affects volatility and again isn't a reason to call it "preeminent". From my PoV, Bitcoin has by nature proved unstoppable, uncensorable against all odds. This really fulfills the rights of users who want the financial freedom they've always wanted.
Limited supply only affects volatility and again isn't a reason to call it "preeminent". From my PoV, Bitcoin has by nature proved unstoppable, uncensorable against all odds. This really fulfills the rights of users who want the financial freedom they've always wanted.
Yeah real insane people😁
I agree with you mate and Bitcoin on like other coins has proven all of those factors you mentioned over the years and one great fact is that it always comes back stronger and bigger after every bear market.
People always get to complain no matter how hard we try, people will always have something negative to say and same people who wanted financial freedom from government, got Bitcoin but instead of max adoption, now this is the volatility will drain them rather than making good use of the volatile nature of it.
I firmly believe that bitcoin remains in first place not due to any one reason, but due to a combination of factors. Each of which plays an important role.
I would like to highlight one of the reasons, which, I believe, stands out from the rest. This is not about some technical capabilities or limited emission, but in a banal belief. Faith in a brighter future bitcoin: as a rising asset or a unique technology. This is what drives people to accumulate BTC.
I would like to highlight one of the reasons, which, I believe, stands out from the rest. This is not about some technical capabilities or limited emission, but in a banal belief. Faith in a brighter future bitcoin: as a rising asset or a unique technology. This is what drives people to accumulate BTC.
Because Bitcoin is the only one coin where it's give a solution for the real world problem and it's not against the government.
There's a coin which give a real use case too e.g. Monero, but the idea of private blockchain and the government can't trace any transactions, it's make Monero get banned in many centralized exchanges. Bitcoin do offer privacy feature like Monero, but you have an option to choose to not use privacy feature or hiding your transaction with any tool that can boost your privacy.
There's a coin which give a real use case too e.g. Monero, but the idea of private blockchain and the government can't trace any transactions, it's make Monero get banned in many centralized exchanges. Bitcoin do offer privacy feature like Monero, but you have an option to choose to not use privacy feature or hiding your transaction with any tool that can boost your privacy.
Limited supply is not advantageous to Bitcoin when it comes to its preeminence among others, it's the fact that it's truly decentralized and the pioneer of cryptocurrency that is given it that relevance. Its market capitalization is higher than others, so it is a huge driving force.
Nonetheless, with time, people will shift their focus from the limited BTC when the coin could not be possessed. There are alternatives that will not even let the short supply affect the crypto market like any other short-supplied assets in relation to economics.
If there are no alternatives, then Bitcoin would have been the most pricy asset on earth over time.
Nonetheless, with time, people will shift their focus from the limited BTC when the coin could not be possessed. There are alternatives that will not even let the short supply affect the crypto market like any other short-supplied assets in relation to economics.
If there are no alternatives, then Bitcoin would have been the most pricy asset on earth over time.
We all know that there are thousands of cryptocurrencies across the world such as Bitcoin, Litecoin, Etherium, Dogecoin etc. Among all of these bitcoin is always remains on top. I think one of the reason behind this is limited supply of bitcoin. Most of the cryptocurrencies have limited supply, bitcoin is one of them. Bitcoin is always on high demand but has a limited supply. When the demand raises, resulting higher prize. What will be the another reason, in your opinion.
Another reason I've seen Bitcoin and some altcoins rank on coinmarketcap is on Marketcap, and their volume in the last 24 hours as well as supply circulation. This is clear every day and it's only natural that Bitcoin is still in the first place in cryptocurrency, apart from that Bitcoin enthusiasts have also started to increase in number after many people saw an increase in price and ATH in Bitcoin in 2021. So that makes Bitcoin continue to be strong in first place cryptocurrency ranking.
Bitcoin is the only cryptocurrency in it's category(currency/SoV) that has been around long enough to show that the network is secure enough for people to be confident enough to hold huge sums of money through BTC.
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