What makes Bitcoin new from Other coins - page 5.

Cryptohygenic

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Quote from: uche6215 on November 25, 2024, 01:57:49 AM

what is really different about Bitcoin that makes it different from other alternate coin?
Let have your view concerning what makes Bitcoin stand out from others?

Bitcoin shares no potentials with no other coins instead the Altcoins imitates from bitcoin.
So specially, what makes bitcoin standout from other crypto coins is it valuability that is focused its volume of adoptors which maximizing it utilizations as valuable of currency potentially for payments and also it range of potential assets.
Also it is less volatile when compared to the Altcoins which are vulnerable to perform less volume of valuability unlike bitcoin.

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Quote from: Oshosondy on November 25, 2024, 02:20:25 AM

Bitcoin stand out because it is decentralized. It is also what people are going for, making it to have a dominance of almost 60%. The only coin that have over a trillion dollar market cap. The coin that people around the world prefer to adopt. Having no known creator which makes it to look natural unlike the altcoins that has known creators.

In the start, BTC had 100% dominance, and with time more alt will come into being and will cover some part of the market cap so will decrease the dominance of BTC too. if we talk about some X coin being released with a $1 million market cap it maybe possible all that money flows from an alt not from BTC, so its dominance will remain the same, but successful ones will surely reduce BTC's dominance. But I have to say dominance, market cap, which is more than 1.8 trillion plays a good role in identifying why BTC is the king.

IMO BTC is unique from other alts is, it' the oldest too, it's ETFs been approved now even, president of the most power country is adoring BTC, it have no creator and centralized system so can't rug pull.

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Quote from: Oshosondy on November 25, 2024, 02:20:25 AM

Bitcoin stand out because it is decentralized. It is also what people are going for, making it to have a dominance of almost 60%. The only coin that have over a trillion dollar market cap. The coin that people around the world prefer to adopt. Having no known creator which makes it to look natural unlike the altcoins that has known creators.

You have a nice point. There are actually many reasons why bitcoin stands out in the crypto space. And one of them is that it's the first network that was successfully a decentralised network. Bitcoin has the highest adoption rate of any coin in the crypto space and as a result it has one of the broadest network.

The fact is that majority of crypto currencies that are actually in the market today are out mainly as a profit making scheme. If you check you will notice that the bitcoin network is one network with the highest number of core supporters and not just people out there to make profit and probably dump it like Most pump and dump coins and meme coins too.

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What makes Bitcoin different in my opinion is that Bitcoin is known as the oldest and first cryptocurrency and besides that it is the most widely adopted among other cryptocurrencies and the most successful, Bitcoin is also the most secure payment instrument with decentralized validation so that its level of security is very guaranteed and this is what makes Bitcoin perfect, and its volatile nature makes Bitcoin a promising investment and can also store value.

Apart from Bitcoin, other cryptocurrencies will not be able to replace or imitate Bitcoin and they are just imitations of Bitcoin that will never be perfect like Bitcoin, and everything said here is the truth that Bitcoin has.

Cryptomultiplier

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I would like to think that the name Bitcoin alone stands for value, originality and excellence and in this day when much wealth comes from value and being true, no wonder why it is the most widely adopted, top performing and most used coin.

There's absolutely nothing new about Bitcoin, but just that when new investors take their bite of the profits from applying great trading strategies or from a long term investment plan, then it becomes the newest and the latest trend.

Other coins that stand true to their vision and modus operandi, still do well, but they may have to proof their worth before they may become as dominant but not more dominant than Bitcoin.

red4slash

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It is the uniqueness of bitcoin especially when they implement anonymity and decentralisation (other than value) that makes bitcoin to date one of the pluses that makes them even more popular.
We know that until now they are the best and it will continue to be like that although there may be some altcoins that try to adopt this style but in the end everything will look the same where there is a benchmark that bitcoin is the first to succeed and will remain king so that in the end many people will decide to be here compared to other coins in altcoins.

This is quite reasonable because in the end when they are considered kings and are the only ones without any comparison then logically we will definitely look for them first before other coins and this is one of the reasons that makes bitcoin remain the first choice because although there are some similarities with some alt but of course there are differentiating aspects that actually become benchmarks and the value of supporting the gap becomes greater.

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Quote from: uche6215 on November 25, 2024, 01:57:49 AM

With the attention given to Bitcoin lately much people are gradually buying into the idea of Bitcoin as it has really changed the narrative and This made me think and ask what is really different about Bitcoin that makes it different from other alternate coin?
Let have your view concerning what makes Bitcoin stand out from others?

Bitcoin is the first cryptocurrency by time of creation. All other cryptocurrencies are either direct forks of Bitcoin or some modified concepts inspired by Bitcoin.

It is similar to the rule of writing detective novels - the hero of a detective novel can be anyone (any gender, age, appearance, body type, etc.), but he should not be like Sherlock Holmes. Because Sherlock Holmes is the original, and all the others are copies.

Bitcoin is the cryptocurrency with the largest capitalization. Bitcoin uses the proof-of-work (PoW) consensus algorithm. Most other cryptocurrencies have a different consensus algorithm.

Bitcoin has no founder, as he disappeared in 2010. Thus, a strong brand, universal fame, decentralization, large capitalization and price, all this makes Bitcoin different from other alternative cryptocurrencies.

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I'm surprised that censorship resistance hasn't been mentioned.

All e-currencies created before Bitcoin were not censorship resistant, as they relied on a central operator, and this operator could either censor transactions himself or be forced to do so by a government for example.

Altcoins are less censorship resistant than Bitcoin. PoW altcoins (with the exception of the biggest ones LTC-Doge and XMR perhaps) can be relatively easily 51% attacked, and an 51% attack can censor transactions.

PoS currencies are, at least in theory, vulnerable to social engineering attacks, although they're so complex that it's currently only a theoretic issue, but it exists. In practice, it's however worse, as often many validator nodes are operated by a single entity, and thus we have the same problem than with the 1990s/2000s early e-currencies. Also they are vulnerable if the founders own a large amount of coins and can threaten to censor transactions themselves via a hard fork, as it occurred with Ethereum in 2016/17 after the TheDAO hack. The censored transactions were clearly malicious but they were following the intended protocol, so it's different than the issue in 2010 in Bitcoin.

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Quote from: uche6215 on November 25, 2024, 01:57:49 AM

With the attention given to Bitcoin lately much people are gradually buying into the idea of Bitcoin as it has really changed the narrative and This made me think and ask what is really different about Bitcoin that makes it different from other alternate coin?
Let have your view concerning what makes Bitcoin stand out from others?

Bitcoin is not much difference from other coins in nature and in terms of transaction. But bitcoin still stand out from other coins because it was the first coin to be listed. It has the highest number of investors and it is limited in supply and has the highest market cap compeard to others. Bitcoin is the only coin that expirenced halving every circle. It experience bear and bull run season while others follow suit. Infactnit bitcoin is more reliable, trusted in terms of security of investment than other altcoins. People preferably chose the main coin which is bitcoin over the photocopy hence the original can not be compeard to the photocopy, That is just the summary.

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Quote from: Marvell1 on November 25, 2024, 02:23:27 AM

I remember we have discussed this many times before and you should have no trouble finding the answer to your question if you take the time to search first. Also, if you take the time to read about the white paper and what satoshi's real purpose was in creating bitcoin, you will know the difference between it and the rest of the market.

By the way, bitcoin has become a topic of interest and attracted more world attention than any other coin on the market in the past 15 years, not just recently.

Look at the date of OP's registration. He knows all the advantages of Bitcoin very well, literally from his first posts as a newbie. But OP is famous for his reputation as a storyteller who can sometimes lie about some of his knowledge, and his multiple creations of new topics do not compensate for his desire to read the answers, unfortunately. OP was previously fascinated by the "economy" section, creating topics regularly; now, finally, he is interested in the advantages of Bitcoin. You can say that he is not too hasty in his zeal for knowledge.

FortuneFollower

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Quote from: Ziskinberg on November 25, 2024, 07:42:58 AM

Quote from: MeGold666 on November 25, 2024, 04:27:44 AM

Of course gov and old financial system is interested in it! as it gives them a lot of power - you can't hide how much you have and they can tax you to the oblivion.

Project to tax you from unrealized capital gains is already in the way, so you will have to send them big portion of your coins.

It's a win win for them.

There’s nothing we can do about that anymore as times have changed. With institutional investors coming in, strict regulations are inevitable. The era of early investors riding the wild waves of Bitcoin seems to be over. From here on, it’s the big money stepping in, taking their share of the market. The upside? It’ll make the market more stable, and that would result to stability which is the key to wider adoption.

As for altcoins, I believe they’re starting to feel like the early days of Bitcoin, where pump-and-dump schemes were the norm. They’re highly volatile because they’re less regulated. So, if someone wants to take a shot at playing with volatility, altcoins are the playground. Right now, the trend is meme coins, and for gamblers, they’re definitely worth keeping an eye on, just play the game right.

Bigger money flowing means bigger restrictions put on them.
And I do agree with the alts being the place to see the real potential combined with the risk going for it.
As for now, we are at a crossroads with BTC - what would the US do with it at the end of Trump's term? Only one thing is certain - BTC is still going to stay a glorious king of crypto. With or without big hands being involved more and more in it.

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Quote from: BlackBoss_ on November 25, 2024, 07:51:29 AM

Quote from: uche6215 on November 25, 2024, 01:57:49 AM

With the attention given to Bitcoin lately much people are gradually buying into the idea of Bitcoin as it has really changed the narrative and This made me think and ask what is really different about Bitcoin that makes it different from other alternate coin?
Let have your view concerning what makes Bitcoin stand out from others?

If you want something new, trendy, potential, you can find it in altcoins. There are many altcoins for you in this market to find revolution in technology and use cases. It sounds very attractive but let me tell you a hidden dangerous fact about altcoins.

They are weak, low or zero value, centralized and they can die anytime. You can find these promising things in top altcoins, but top altcoins can die too.

Don't buy altcoins because they are top altcoins.
How many cryptocurrencies failed?

If I am to ask, how SOL, ETH, or BNB (the one mentioned in your thread) - would be dead?
What can possibly push them there? I don't see it.
Roll Eyes

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Quote from: uche6215 on November 25, 2024, 01:57:49 AM

With the attention given to Bitcoin lately much people are gradually buying into the idea of Bitcoin as it has really changed the narrative and This made me think and ask what is really different about Bitcoin that makes it different from other alternate coin?
Let have your view concerning what makes Bitcoin stand out from others?

If you want something new, trendy, potential, you can find it in altcoins. There are many altcoins for you in this market to find revolution in technology and use cases. It sounds very attractive but let me tell you a hidden dangerous fact about altcoins.

They are weak, low or zero value, centralized and they can die anytime. You can find these promising things in top altcoins, but top altcoins can die too.

Don't buy altcoins because they are top altcoins.
How many cryptocurrencies failed?

Ziskinberg

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Quote from: MeGold666 on November 25, 2024, 04:27:44 AM

Of course gov and old financial system is interested in it! as it gives them a lot of power - you can't hide how much you have and they can tax you to the oblivion.

Project to tax you from unrealized capital gains is already in the way, so you will have to send them big portion of your coins.

It's a win win for them.

There’s nothing we can do about that anymore as times have changed. With institutional investors coming in, strict regulations are inevitable. The era of early investors riding the wild waves of Bitcoin seems to be over. From here on, it’s the big money stepping in, taking their share of the market. The upside? It’ll make the market more stable, and that would result to stability which is the key to wider adoption.

As for altcoins, I believe they’re starting to feel like the early days of Bitcoin, where pump-and-dump schemes were the norm. They’re highly volatile because they’re less regulated. So, if someone wants to take a shot at playing with volatility, altcoins are the playground. Right now, the trend is meme coins, and for gamblers, they’re definitely worth keeping an eye on, just play the game right.

nullama

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Quote from: uche6215 on November 25, 2024, 01:57:49 AM

With the attention given to Bitcoin lately much people are gradually buying into the idea of Bitcoin as it has really changed the narrative and This made me think and ask what is really different about Bitcoin that makes it different from other alternate coin?
Let have your view concerning what makes Bitcoin stand out from others?

Previous attempts were centralized, making them easy targets, but Bitcoin is the first attempt of decentralized money:

Quote from: satoshi

"A lot of people automatically dismiss e-currency as a lost cause because of all the companies that failed since the 1990?s. I hope it’s obvious it was only the centrally controlled nature of those systems that doomed them. I think this is the first time we’re trying a decentralized, non-trust-based system.

And later attempts are not as large as Bitcoin.

The key thing here is that Bitcoin is now very resilient. It was almost a miracle that Bitcoin actually was able to exist. It was very fragile in the first few years, but now it has the power of so many miners, that it's practically impossible to attack it successfully.

Any other altcoin will basically have to start from zero, and they would be too fragile to exist in this environment, whereas Bitcoin will continue generating blocks every roughly 10 minutes on average.

hugeblack

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99.99% of altcoins are duplicates and aim to make their developers rich and therefore they are not serious projects and there are a few alternative currencies that are considered real competitors to Bitcoin but due to the huge difference in market capacity between these projects and the lack of serious competition or need for most of these projects and therefore Bitcoin will remain number 1 for a long time.

MeGold666

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Quote from: sunsilk on November 25, 2024, 04:31:59 AM

It's because it's the king of this market.

Tether printer goes...

You can't be serious for long term with Bitcoin, which is being backed by Tether which in turn is being backed by nothing.

Over&Out.

sunsilk

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Quote from: uche6215 on November 25, 2024, 01:57:49 AM

With the attention given to Bitcoin lately much people are gradually buying into the idea of Bitcoin as it has really changed the narrative

Changed narrative of what? maybe because of the adoption that's happening with the financial institutions and they're also buying it, right?

Quote from: uche6215 on November 25, 2024, 01:57:49 AM

and This made me think and ask what is really different about Bitcoin that makes it different from other alternate coin?

It's because it's the king of this market. Nothing new, nothing less. People especially the new ones need to figure that out and they always talk about the expansiveness of it but that's what you get when you firstly saw it.

But if you are up for being a long term guy on this market, that is what's the difference of it. The global adoption and acceptance of it is no-brainer.

MeGold666

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Quote from: Alphakilo on November 25, 2024, 04:20:21 AM

...Governements are interested in it, financial institutions are constantly talking about it, and entrepreneurs can't wait to hold a lot of it in their wallets.

Of course gov and old financial system is interested in it! as it gives them a lot of power - you can't hide how much you have and they can tax you to the oblivion.

Project to tax you from unrealized capital gains is already in the way, so you will have to send them big portion of your coins.

It's a win win for them.

Alphakilo

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Quote from: uche6215 on November 25, 2024, 01:57:49 AM

Let have your view concerning what makes Bitcoin stand out from others?

Without trying to talk about the fundamentals of bitcoin and all of those things that the more knowledgeable members would have touched on, I will give you my view on why I think bitcoin stands out from the other coins from a personal perspective. Bitcoin has been the only consistent coin that even when its price drops, you are not scared that some big whales are going to crash it and it will be the end of the project. You can rest assured that the price will increase. This is what we are currently seeing. Some months ago the price tanked to $15,000 and here we are at over $90,000.

My other perspective on why I think that bitcoin stands out from the other coins is that everyone can see that it is the coin that is drawing the most attention from everyone. Governements are interested in it, financial institutions are constantly talking about it, and entrepreneurs can't wait to hold a lot of it in their wallets. Private citizens are doing dollar cost avarage to hold more because of its potential. The handwriting on the wall about bitcoin is obvious. For all of these, we cannot say about the other coins.

Topic: What makes Bitcoin new from Other coins - page 5. (Read 1168 times)