Topic: What makes Bitcoin new from Other coins (Read 1168 times)

..i think you've got a strong point about bitcoin standing out from altcoins. it's true that BTCs reliability, limited supply and established history make it feel like a safer long term investment compared to the volatile and often experimental nature of altcoins. Altcoins might offer innovative features but high risk and susceptibility to scams or market downturns can make them less appealing to anyone who's cautious with their money.

i'm curious, do you think altcoins with unique utilities could ever challenge bitcoin's dominance or will BTC always be digital gold?

Bitcoin is no different from other cryptocurrencies, except that it has never been hacked in its entire long history. And thanks to this, it was able to show itself as the first reliable attempt at digital cryptocurrencies, which is why many people believed in it, and therefore it was able to gain such a market capitalization. Plus, as usually happens with the first phenomena, it became a kind of Gold, and the maximum number of people who know nothing else about cryptocurrencies have heard of it. Even though Ordinals have spoiled the image of Bitcoin, it is alive and will live. It also survived the Bitcoin Cash fork, showing that the original is more important to everyone.

The popularity of bitcoin is increasing day by day, there are many newbies who like to invest in bitcoin, many prefer bitcoin investment over alt coin investment. However, if we want to successfully invest in Bitcoin by investing in Bitcoin, we must have patience and plan to check the market if we can invest in Bitcoin and through this investment we can achieve a considerable amount of success. But yes we must be patient in investing in Bitcoin Patience is very important thing if we can invest patiently with long term plan and check the market if we can invest we can definitely earn a lot of profit from Bitcoin investment. I personally feel more comfortable with bitcoin than alt coin and I invest myself but tell them their intentions and then invest.

I think that a concept that might be new with Bitcoin is that the ~10 minutes block time is basically for dealing with large amounts of value.

It's not supposed to be for small amounts that require instant clearance.

I mean, even visa and mastercard do the same. They take days to clear their transactions, while showing you an instant coffee transaction.

Check on your bank statement, it will say something like Pending for a couple of days. Bitcoin is way faster than that, say an hour on average.

Op if I were you I would have changed the subject to another one because bitcoin is not a new coin and it will not be new forever. As it is said cryptocurrency has been exiting but they had not be able to break through the imaginary line but bitcoin did and as it is bitcoin has come to stay and nobody can reverse it.
And the reason why bitcoin supersedes other Cryptocurrencies in the crypto market is because bitcoin first came into the market and gather population and the best aspect of it all is it is a store of value so everyone like to invest in it. And the transaction fee is very low for people to send and receive. But others are not like that.

Simply put - BTC didn't fail anybody, and it probably won't.
That's why people never stopped looking at it with interest and faith. Both folks around it and whales and institutions.
Time put everything as it needed to.

With how far this discussion have come, I believe you already have your answers in multiple comments on this thread.

But then, just to add, there is nothing new about bitcoin really, when you ask "what makes bitcoin new from other coins", it creates confusion in the minds of most people who may turn around to ask what exactly you mean.

There is nothing new about bitcoin, but in terms of it being different from other coins in the market, this is true, and the very thing we all should know is that, bitcoin is the oldest cryptocurrency in this currency market, this whole idea of blockchain and cryptocurrencies all began with Bitcoin, so, we can say that Bitcoin is the first mover in the market.

And by the above, we understand that over the years, with all the milestones bitcoin have achieved, interest in it have grown, people have come to trust in it, thereby investing heavily in it, and because of the kind of large userbase and ultiity bitcoin have achieved, it has also become the safest crypto asset to invest in as long as cryptocurrency is concerned.

Yeah, and the faith put into BTC for that reason and others are strong as ever - I don't think any coin would be able to topple the amount of skin put into it.
And that's what's beautiful about it. Other than what BTC stands for.

Bitcoin is different from altcoins in terms of popularity and reliability. Bitcoin is the first coin among digital coins and altcoins are copies of Bitcoin. That is, we can say that Bitcoin is the original digital currency and altcoins are fake or copies. I am not saying that altcoins are harmful like ordinary fake products, for example, I am saying that altcoins are a fake of Bitcoin. Now you will never want to choose a fake product over the original product. That is why Bitcoin is more popular.

Another main reason for the reliability and popularity of Bitcoin is the presence of more miners. The presence of more miners for Bitcoin mining further strengthens the security of Bitcoin. You will not find more miners in other coins like Bitcoin. Due to the presence of more miners, Bitcoin is almost impossible to hack. Although Bitcoin's security was somewhat fragile in the beginning, which led to scandals such as the Bitcoin theft in 2014. After handling the shock of the scandal, Bitcoin was able to regain its popularity and with the arrival of more miners, it is now almost impossible to compromise Bitcoin's security.

Another key reason for Bitcoin's popularity is its price pumping. Bitcoin is able to pump more than it dumps, due to which an investor can invest in Bitcoin without any risk and can stay in Bitcoin investment for a long time.

ETH for me is a digital oil - after all, it's the biggest eco with vibrant L2's all around. It's natural for it to be considered something that would propel smart contracts forward. Just like oil and its usage propelled many spheres forward.
On the other hand - LTC is considered a smaller brother of BTC. And it surely does have its potential with its metrics being different than BTC's - that's why I see it as silver.

That is quite an opinion. Most people would say that ethereum is the digital silver seeing that after bitcoin it is the second biggest cryptocurrency. I still consider ethereum to be the digital silver to be honest. While litecoin seems to be potentially good in the future, I still don’t see it bearing fruits currently.

Regardless, there is one and only digital gold and it is bitcoin. I do think that bitcoin would be the superior cryptocurrency for a really long time if not forever. It’s a hard one to beat and I still do not see anything that could be the ‘new bitcoin’.

In the early days of bitcoin, bitcoins were priced below $1 and were even distributed for free through faucets. It could be said that bitcoin also started from zero. But because of its many useful use cases and especially its decentralized nature, it stands out. From there, the demand for it increased and its price also increased significantly due to the demand.

So in my opinion, the decentralized nature is what makes bitcoin different from altcoins, neither price nor supply can make the difference of bitcoin. Because creating a coin with limited supply and pushing the price up is not difficult, but decentralization is something that no altcoin has been able to replicate.

Yeah, most other alts out there can't be saying the same thing - the next fella in line would be the digital silver, which is LTC, in my opinion.

I do think you are right, and partially, we can say that such attention from the big guys and whales is because BTC was the first - however, it also is the coin with a real goal in mind besides making more profit for its founder or founders, so that is another factor worth remembering.
Combining all the good about BTC results in the picture we have today - and it is what differs BTC from the rest.

I do agree - the skin put in BTC by all the parties, small and big alike (whales, corpos, ordinary people, and so on) is important too, in my book.
After all, if people didn't see the potential and true value behind BTC (besides being a storage of it), people wouldn't invest in it.

The price itself is not that significant.

What is most significant is the amount of mining power behind it, which is what keeps the network safe of attacks.

Any other digital currency has no chances to becoming even close to Bitcoin because it would most probably be attacked the moment it is of interest, which surprisingly Bitcoin managed to do.

It was almost a miracle to have Bitcoin.

What gives Bitcoin a selling point is because of its uniqueness, decentralization and security. You see that despite altcoins bringing new creativity about their tech and how they been unique in their own ways, Bitcoin still remain number one coin. The supply is also an additional factor and there is nobody else there to decide where it goes, how it goes and when it goes, inky collective effort of builder bring it to where it's now unlike altcoins that is full of cultists and whales.

Have you ever think for a moment why altcoins don't get the attention of institutional investors, some does but aren't given the attention needed because deep down, it's always about the team because tell me, what are you going to do with 15% of supply all to yourself despite raising huge amount of money and has 40% to ecosystem that can be sold anytime and when they like, these are the things you don't see around with Bitcoin, it's a way to decentralized and evenly distributed.

You should ask what makes bitcoin old compared to other coins. Then it would make sense.

Or ask another question. What new does bitcoin provide compared to other financial instruments, for example, investment ones, like traditional stocks and securities and traditional money. Here, we could discuss.

And if we answer your specific question, what is the difference between bitcoin and altcoins, then it is decentralization, greater faith in this asset, trust, a larger user base, greater capitalization, etc. But this is all a result of the fact that bitcoin appeared 1st. If we abstract from this, then the real difference is decentralization due to the lack of a single control center (founder and owner).

What makes bitcoin different from other coins or stand out from other coins is it's price. You know that price of bitcoin is much higher compared to other coins. The title thread?, I am not sure why would be bitcoin new  from other coins. Maybe you meant if there's new coins in bitcoin then the answer would be yes as there are new coins that are mined in a block which is a reward for the one who mined the block. I am sure you know about the block reward. Also bitcoin is not the first digital currency made although it is the first one to gain popularity.

If only you’re ready to make research it’s possible you’ll get an answer within few minutes well I’m sure we all know bitcoin is the first and trusted, bitcoin rapid growth and outstanding performance shows it’s a reliable investment. I’m considering others as shitcoins due to the inability to rise after a decline rather they only rise when bitcoin market is in a good condition. Bitcoin is worth the attention basically everyone is looking for a profitable investment aside profit making bitcoin private nature is trusted, don’t know the exact point you’re looking for though here’s just a little.