Topic: The difference between bitcoin and cryptocurrency. - page 4. (Read 606 times)

I am sure those who don't know about other cryptocurrencies than Bitcoin they don't know about the usecases of it and they just leaned that there is a virtual currency which name is Bitcoin. And one more thing, just understanding about Bitcoin that it's a crypto isn't enough at all. You have to know about the pros and cons and have some technical knowledge about how to use or spend.

This is a very common example and not too much informative. I believe that who has a very little knowledge about crypto or he is just starting must know about the common differences between Bitcoin and Altcoins. The word "Altcoin" means Alternative Coin. So it's an alternative of Bitcoin.

Are you sure?

I believe more people invested money in altcoins (alternate cryptocurrencies) and lost their money with altcoins than with Bitcoin. Altcoin communities are more noisy, actively shill their "potential" altcoins and if you check Coinmarketcap.com, Coingecko.com, thousands of altcoin will appear. It's hard to ignore them when you can buy them with cheaper prices.

This sentence is too long but contains confusing information and incorrect too.

Both Bitcoin and altcoins use blockchains, very few altcoins like DAG don't have a blockchain. Difference is Bitcoin network is decentralized whilst altcoin networks are centralized.

 I've come to realise that many people still don't understand that there are other cryptocurrencies apart from the bitcoin, yes the bitcoin is considered a cryptocurrency but they're two things altogether, bitcoin is the supreme digital currency and all digital currencies around the world are known as cryptocurrency, it is an form of currency be it digitally or virtually that uses cryptography to secure it's transactions,whereas bitcoin uses a decentralized ledger called the blockchain to maintain and secure a transparent record of transactions.

 Let me bring it to layman's term for people to understand better, in a society there's a family and I'll use the family to represent cryptocurrency now, the family has a head and that is the father which I'll use to represent bitcoin, now inside that family there are other members like the mother, sister,brother  which forms the family, that's how their are other digital currencies that makes up the cryptocurrency as well, now you can say the father is a member and head  of the family but can't say the father and family are same thing, same way as saying bitcoin is the head and supreme cryptocurrency but can't say bitcoin and cryptocurrency is same thing, I hope these illustrations will help you understand my explanations better, also there other cryptocurrencies like etherium, bnb, cardano, polkadot etc.