Topic: why all crypto world depend on one old tech coin it's ridiculous (Read 251 times)

If you think that the technology behind bitcoin is obsolete then none of the coins will survive ,what projects are you talking about and tell me a few projects that are running strong for more than four years and we can very well see what all project will survive in the next few years, but one thing is sure bitcoin will be there and most probably it will be the only coin to survive even after ten years.

I hope so. Because a lot of ambitious ico and their currency often claims that they will replace bitcoin one day. And who knows - maybe it will happen

Well you have given nice elaboration about bitcoin, it is very true that we are getting more and more modern day by day so we will have to look at the development of the era, bitcoin is better than any other investment because its price is very good and it is very reliable to use,  it is not ridiculous to make faith on bitcoin and use it to make your only way of earning, smart people always take benefits of the situation so for me bitcoin is king of all other coins, no coin is like bitcoin, it has very good to have bitcoin.

And for what reason the world is based on cash ? (before E money appeared of course .. )
Why do everybody depend on those paper bills and coins ? Even tho they were created hundreds of years ago ?
Because it simply is credible , and everybody trusts it , dealt with it and knows that it's a safe value storing method , bitcoin didn't come to change the concept of money , it just came to change the concept that we have to deal with a centralized third party that controls all our money spending and knows exactly how much wealth are we storing because we'll only be able to spend it if they're present in the process whether directly or indirectly .. Bitcoin is an ideology , it's a way of practicing our god given freedom , and another way of storing wealth with full anonymity .. And bitcoin has gained the same credibility among the crypto enthusiasts , that the cash money has gained across the globe ..

As for the part of "old tech" ? lols .. Maybe you are comparing the technology to the most recent ones such as Smart contracts etc ..
But you definitely should check for the things under development such as LN , that will certainly take bitcoin to another whole level , bitcoin is certainly the OG of all coins , but won't cease to progress and be enhanced with the most recent techs ..

All other crypto currencies just copied bitcoin. It is the first crypto currency created ever. In the market, only those things prosper which are launched at the right time. When millionaires were in need of something that can allow them to transfer huge amounts across the world very quickly without paying high charges, bitcoin was launched. It got attention of all such millionaires so the need of any further coins was actually ridiculous from the beginning.

the branding itself as the first coin in the cryptocurrency really help to make people more interesting with bitcoin. as you know some people still knowing that "digital money = bitcoin" or "cryptocurrency = bitcoin". and the important thing is theres so much demand in the market, that was very reasonable if bitcoin can influence other coin.

Bitcoin has not being around for long enough to refer to it as an old tech coin and also without bitcoin you wouldn't be here on this forum talking about cryptocurrencies. The forum is literally named after the old tech coin. So why don't you put some respect on that name and be grateful

Its old because its 2-3 generations behind the current technology, not its number of years.  The only metric its ahead on is valuation, if we are talking technology it is old.

I think you're older than bitcoin. Haha. Bitcoin is not yet old. Cryptos depending on bitcoin is because bitcoin is the pioneer of all cryptos and it is the most heard and popular coin ever. There may be lot of good ICO projects out there with high potential to lead in the future but I think for now, they will all be depending to bitcoin, it is because bitcoin has proven lot of potentials and it faces and passed lots of struggles in the past from where we've seen it keeps on rising from the ashes. This proves that bitcoin is the real king of all cryptos.

Yes indeed like that fact, coin coins are under the auspices of blockchain.

Old and bitcoin i think its wrong.It's just about 10 years in age and that makes it extremely youthful. Lets not overlook the way that Bitcoin was the most importantly and if not for it, there would be none of these 'marvelous activities'. The father dependably has his place at the highest point of the progressive system and it will just proceed till somebody totally topples him which isn't likely in this situation with Bitcoin.

Come on mate, 10 years doesn’t make it old tech. And there has been a lots of development around Bitcoin and scopes of further developments are there obviously. It will take a lot of development for other coins to surpass Bitcoin.

Bitcoin is old technology.  People seem to think 9-10 years is young, in IT generally its last generation or more.  In the blockchain space bitcoin has been superseded by others with more complex technology.  The saviours of Segwit (not widely adopted) and LN (only in beta test) at best make it upgraded.  Time taken for a block will still be 10 minutes, no smart contracts, no dapps etc. 

Anyone not accepting this should ask themselves, if you invented a blockchain today would it look like bitcoin or something else?  If something else, you accept its old technology. 

That said i dont believe crypto world is dependent on Bitcoin, only the market cap is.  In sub sections of the market its many other coins.

you have to be cognizant 0f the fact that the world and majority of its people are new to this crypto currency and in a world where there are so many of these currencies then it only makes sense to push the one that has a household name/following in this case its bitcoins , bitcoins offers the largest growths spurts and that is why most people stick with it ....you may also say the opposite is also true but that's exactly the point , people are so confident in it that even when it falls drastically even though they may express some amount of fear they expect its price to go Right back up.

You are very much mistaken when you say that it depends on one "old" technology, the developers of the etherium recorder tried their best and created a miracle technology

An awesome project is ETHLend. I have been a lender and borrower. The code is secure and fully decentralized. Granted, this isnt something to base the whole market off of, but is a great project. For the market to based off a currency, unless bitcoin makes some major changes I dont see a future in it. Lightning network is not the right direction, if I understand it properly(correct me if Im wrong), the system is based on debt. That is not much different than today. If everyone takes a loan from each other doesnt that result in what we have now?

I think there is reasonable, since there are many better encryption currency, but people and recognition, and that there is no way, the currency has been recognised by many people, they believe that as long as the investment currency, will make profits.

And bitcoin has a very strong anti-pressure capability, and the price of bitcoin is still very strong, with all the bad news in the past.

That's why people like bitcoins.

It is because the demand in bitcoin is much high than any other coins. Even if there are new coins sprouting everywhere and lots of features that is much better to bitcoin we made bitcoin that way.
Blame all of the millions of people who made it that way.

It seems to be that in the last century, gold was a reference for the exchange of equivalents in the exchange of objects. Now the same encrypted world is the same. All coins are referenced in bitcoin. I think this situation will change in the future. As long as block chain technology is popularized, more altcoin will be recognized by people. This is only a matter of time.

there is just too many dumb things in this two small lines that i don't know where to begin

bitcoin old tech?!!! it doesn't get any newer than bitcoin! it is not even matured, it is calling an infant that just came out of the womb an old man and start arranging its funeral!

awesome projects? name a couple of them here and say WHY you think they are awesome and the WHY has to be detailed technical argument not the copy paste of some ICO webpage advertising it and not just because its price is pump and dumping and is giving you profit! tell us which one of these "awesome" projects have you actually used, made some transactions in, checked their code, features, strength and weaknesses,...
you see, i know it, everyone else knows it and you know it yourself too, you are just mad because your investment in some altcoin(s) didn't give you profit because bitcoin price dropped and the altcoins followed it harder.