Topic: Show me one TECHNICAL advantage of Bitcoin (Read 306 times)

Going to lock this topic by the end of the day since my question seems to be answered and nobody cares for what my purpose was.

There is no technical advantage.

Thank you all for your participation in this topic and your points of view, i appreciate it.

Think of Money. If posters here can't incorporate that in their critical thinking then they're in for a bad time.

This comes up relentlessly. All tech comparisons like Noka, Facebook/Myspace have no money on the line. They're pointless comparisons to make. The only reason we're talking here is because of money. Not tech. The tech begat the money.

All you had to do to abandon them was click across or buy something else. Millions of people have a vested interest in keeping Bitcoin good enough.

>.<

Don't get me wrong. I absolutely understand what you're saying. But my personal opinion is totally different and that's why i asked FOR A TECHNICAL ADVANTAGE disregarding every other component that makes Bitcoin valuable. I don't want to offend anyone or make Bitcoin "bad". I just want an honest discussion about its technology.

But if you guys really want a good example why i think Bitcoins popularity is worth nothing - Think of Nokia. (i really really really don't want the discussion into this direction, please keep in mind)

We're not talking hairdryers or nose hair trimmers. People here constantly overstate the tech and completely disregard the monetary aspect.

What Bitcoin does have is everything that surrounds it that other coins do not. That includes hash rate, trust, acceptance, profile. That's pretty much impossible to obtain.

Money cannot buy it. You can't scare people into awarding it. BCH will learn that. It has to be earned.

If Bumcoin had that we'd be on Bumcointalk instead regardless of how good or bad technically Bumcoin was.

It seems you already know all the answers and are just trying to get some point across, maybe just get on with it and sell whatever you are trying to sell...

I disaggree with that. Also, i explicitly asked for a technical advantage.

Imagine this situation:

A company makes a pitch and says to the investor:
"My product sucks but people believe in it. There are far better products on the market but people don't care."

And what is easier for a company?
Marketing or technical development?

It is marketing. So whenever a company comes and says  "My product is extraordinary but people don't know it" - every investor will go in. Sales and building trust can be very easy with the right team.

Also, look for this article (especially the guys from some posts above):

https://cointelegraph.com/news/how-close-did-bitcoin-get-to-disastrous-chain-death-spiral

Tech is almost completely irrelevant compared to trust and adoption. We're not talking games here. This is money.

You can have the single greatest piece of tech ever but it's not going anywhere unless enough people are willing to entrust their money to it and that takes a long, long time to develop.

Bitcoin has been maxed out 24/7 for years now without a single hiccup. I wouldn't go all in on anything that hadn't managed the same.

In theory there are faster coins, more scalable coins, less power hungry coins. And all of that's jolly, jolly nice. It doesn't means shit until they've been battle tested properly.

The tech aspect can't be disentangled from the trust and robustness.

Thanks for your replies!
So, what do we have so far:

1. Bitcoin was the 1st crypto

2. It's most secure because of its hashrate

3. It's the most popular crypto

Are these really advantages? I don't think so. Basically Bitcoin is just the #1 crypto by popularity, resulting in better security.
As soon as the technology itself gets more attention from companies and the masses of private People, other Projects will gain in popularity, too. When this happens, technical advantage and usability is worth much more.

Is it an advantage that Bitcoin has been here for the longest time? Or only an achievement? I guess last. It could be any other coin that would have been there first.
Also, the rise of Bitcoin itself is somehow market manipulation since it's only used to make money and not a real product (it's not used as what it's intended to be). The psychological effects you mean will blur out the older the technology gets and when people start to actually USE cryptos instead of just trading them.

You missed one (extremely!) important point. The first mover advantage.
Bitcoin is here for the longest time. It has proven to stand a lot of attacks. Look at the last pump/dump of BCH/BTC.
This obviously was an attempt to "attack" bitcoin and make money out of BCH. Market manipulation at its finest.
And BTC took this attempt pretty calm. Its no longer that vulnerable to such dumps/manipulations.

The "better projects" you mentioned wouln't stand against such an attack. They would get pumped and dumped to almost zero afterwards.
Whales (like in recent btc/bch dumps) could (pretty easily) destroy such projects which don't have such a big userbase and trust.
BTC has the biggest userbase and the most trust. It established itself in the crypto market (which can't be said about most of those shitcoins altcoins).


Edit: Just noticed the "technical"-tag. Technically there probably is no real (big) advantage over other coins. But technical advantage is not what makes a crypto currency
accepted and trustworthy. the technical part is important.. but don't underestimate the psychological effects.

Bitcoin is special because it's the first digital coin using a blockchain.
I know there are coins that are technical more advanced but do we really need these advancements?
There are cool technical advancements like Monero's cryptonight or Ethereum's smart contracts and that is why they got popular too.
I see these coins as alternatives that are intended for different things, it doesn't have to substitute the original just because it's more anonymus or allows you to create smart contracts. Then you have coins that have advancements but do not necessary improve the experience. I don't think these should replace Bitcoin, I think we should rely on the original coins that have been around much longer.

If compared about technology, it can be said the most rudimentary bitcoin. But one thing that can not be replaced is bitcoin has opened the crypto era

The benefit of Bitcoin is security.

Other cryptocurrencies tend to introduce updates more experimentally because they are trying to find a way to be interesting and different to Bitcoin.  However, in doing so they forget the importance of proper development teams, code testing and generally being conservative when it comes to altering software.

Also, even though this one is a self-fulfilling prophecy of sorts, it's still valid to suggest that BTC's existing popularity makes it drastically more secure and increases the resources required for 51% attacks or other attacks on the network.

It's not like funds can just shift from crypto to crypto by the day.

No one? As expected. 

Thanks for your words. That's exactly what i mean - bitcoin is only hyped. (what is ok since it brings the whole market forward)
Still i'm excited if ANYBODY can show me a real benefit of bitcoin... (and i really mean BITCOIN, not blockchain technology itself)

Bitcoin have advantage to make data history strong and hard to manipulate.
Main key is this:
1. With blockchain, every new data dependent on previous data. This make all history traceable and almost impossible to manipulate data history.
2. With P2P network, data distributed along many computer(node)....here validating begin, each node will compare with another node to acknowledge new valid data.

Thats its.....no more, no less. I'm technical person and completely understand blockchain very well.
And this not new on database engineering. This exist long ago....and Satoshi Sakamoto is the one who brave enough to suggest this on cryptocurrency, and introduce strong algoritma to secure every block data.

And after bitcoin, there lot new project has better improvement in term of technology. Bitcoin algo very costly in term of electricity and network....

But in term of value, bitcoin become most higher value because it was 1st cryptocurrency with log adopters....previous project mostly failed

So there nothing really special in bitcoin technology....not new innovation or something amazing. For programmer and database engineer, this not big thing...but bitcoin make this concept popular among non tech people...
And it sound big and lot of people trow money on blockchain project...Bank system etc. It because decision maker aware with this concept, thank to bitcoin and ask tech people to implement this. Nothing new

Especially in these P&D times people tend to claim that bitcoin is "the only one". The one coin that is "far better" than anything else. "No one can beat bitcoin"... and so on. For me, that's just blabla. I tolerate that the holders and early adpoters will always stick with it and will always promote it. But technically, there are far better products.

So, here is my question. In a technical way, what makes bitcoin special? / What makes it special compared to other blockchain projects?

A hint from my side; it CAN NOT be:

Transaction time
Transaction fees
Anonymity
Scalability

... because there are enough projects out there that are ahead of bitcoin when it comes to these points.

Thanks in advance!