Why are so many devoted to Bitcoin vs other cryptos?

szpalata

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Quote from: captin crunch on January 15, 2018, 02:02:47 AM

People tend to trust names and brands, many people by BTC and do not understand anything in crypto currencies, so they cannot imagine that any other coin might succeed.

Bitcoin has been here for long and has been able to withstand many negative campaigns they did against it plus it is gaining interest from people globally and this is making it growing value consistently than all the other crypotocurrencies and so that is why i think people are devoted to it more than the others because it is a bigger industry than the others.

captin crunch

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People tend to trust names and brands, many people by BTC and do not understand anything in crypto currencies, so they cannot imagine that any other coin might succeed.

Crypto Rock

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It was the first crypto and continues to the the leading one (market cap, price, progress toward the final state). This will continue for a while, but in the future this can go in any direction.

TheGodFather

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Quote from: Realist247 on December 13, 2017, 04:20:18 AM

It's no secret that BTC has a big problem with fees and transaction times and it's getting worse with rising valuation and number of users. That's the first issue. Bitcoin's closest market cap competitors don't have these issues....at least not yet.

The second issue is that other cryptos have given better returns year-on-year vs. Bitcoin...especially in the past week to a month. During that period BTC went up 100% but some of its closest competitors in market cap have returned 200-300%....or better.

To me, this is a no-brainer. Even some merchants and vendors have dumped Bitcoin in favor of other cryptos. Most know of the STEAM example.

So why are so many on this forum not switching? Most of you would be in a position to get in before the crypto ignorant (new investors) start piling in fresh cash.

I really do not understand the logic since I don't believe for a second that it is an issue of brand loyalty...especially how little it is discussed as an option.

Thoughts?

To me, this is a case of comfort and convenience more than anything. The fact that there have been a myriad of issues being encountered while trading in Bitcoin has not dampened the fact of the users global enamor to it. Especially now that its value has reached an all time high and even with its drop it atill is very palatable to some investors

earl07

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It is the first crypto currency that been created and the pioneer among all coins.Bitcoin may have flaws but its trust and the price is one of the thing that people devoted to.Besides its the mother coin crypto and not been dethrone for many years and will always be on top.Bitcoin can change anyones life,and i think a time will come that it will have a big role to the modern world and in the future.

tickledlicker

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Bitcoin is among the first to introduce a fully functioning cryptocurrency to the world. This is why so many have stayed to keep using btc.

1kings

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BTC has the highest followers now been the first crypto. It'd remain the prime crypto for a while until more people are aware of the viability of other cryptos. It took BTC about 8years to get popular and AltCoins are riding on that wave. In a little while, they start standing alone. Then their users would grow.

chidrawarster

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There were few users initially knowing about the importance and existence of bitcoin. Now the user Base has grown vastly and many are aware of the coin compared to the few years. As its the first crypto, legacy will continue and the price is expected to go a long way and its in it early ages. As long as volume is there buyers will be there and there will be very less sellers seeing the present scenario. Keep a watch and we do not know where the price is gonna go.

justspare

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Quote from: KenChanYu on December 16, 2017, 02:47:14 AM

Quote from: rcticoin on December 16, 2017, 02:40:53 AM

ever agan compare bitcoin with other payment?
such as paypal? payerr? PM? webmoney? payza?

I want to ask, if you want to buy an item, there are some payment processor,
what will you choose? pay via btc, paypal, PM, payer or something else?
(if smua payment processor there balancenya)

Bitcoin is really getting more popular because it is really proven and tested it really gives as an extra huge income that is why many people really believe in bitcoin and it is really getting more trending than the past few year because many more people really depend on it today.I think bitcoin is really a good way to earn profit verry amazing.

This is truth. People didn’t know about bitcoin when it was developed back in 2009 and then after two or three years, there were some peeps who somehow know about it. All those technology and money lover knew what it was but still genre public was totally unveiled of it. Later and now, see this amazing thing coming into our lives and now it become an important part of us.

Realist247

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Quote from: rcticoin on December 16, 2017, 02:40:53 AM

ever agan compare bitcoin with other payment?
such as paypal? payerr? PM? webmoney? payza?

I want to ask, if you want to buy an item, there are some payment processor,
what will you choose? pay via btc, paypal, PM, payer or something else?
(if smua payment processor there balancenya)

With the fees being so high I don't see the value of spending Bitcoin to pay for anything. I'd use a credit card or Paypal.

KenChanYu

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Quote from: rcticoin on December 16, 2017, 02:40:53 AM

ever agan compare bitcoin with other payment?
such as paypal? payerr? PM? webmoney? payza?

I want to ask, if you want to buy an item, there are some payment processor,
what will you choose? pay via btc, paypal, PM, payer or something else?
(if smua payment processor there balancenya)

Bitcoin is really getting more popular because it is really proven and tested it really gives as an extra huge income that is why many people really believe in bitcoin and it is really getting more trending than the past few year because many more people really depend on it today.I think bitcoin is really a good way to earn profit verry amazing.

rcticoin

full member

Activity: 139

Merit: 100

ever agan compare bitcoin with other payment?
such as paypal? payerr? PM? webmoney? payza?

I want to ask, if you want to buy an item, there are some payment processor,
what will you choose? pay via btc, paypal, PM, payer or something else?
(if smua payment processor there balancenya)

dhka

full member

Activity: 266

Merit: 101

The Experience Layer of the Decentralized Internet

Logically yes, alts will give you more profit because of their small marketcap compared to bitcoin alone with $300b and keeps increasing day by day
But bitcoin price movement is directly affected alts prices, when bitcoin pump, alts dump, when bitcoin dump, alts dump too then when bitcoin is stable alts will moon. That's why it is better to have your balance in bitcoin, when btc pump alt dump then use your btc to buy your favorite alts with big discount Grin

ivanst776

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Quote from: farhaan on December 13, 2017, 06:50:02 PM

As you have said in your post,no other coin has handled such a huge volume o transactions and only when such coins handle such a huge transaction volume,then only we could say that it is better than bitcoin.

In short, what I have understood and experienced is that there is yet no other coin stronger than bitcoin. Bitcoin is the one which has the largest market in the world at present among digital currencies. As far as throwing away bitcoin form the throne of crypto market is concerned, it is impossible. No other coin is as trustworthy as bitcoin is. Bitcoin is having the largest amount of investments and security as well.

eaLiTy

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Quote from: Realist247 on December 13, 2017, 04:20:18 AM

It's no secret that BTC has a big problem with fees and transaction times and it's getting worse with rising valuation and number of users. That's the first issue. Bitcoin's closest market cap competitors don't have these issues....at least not yet.

The second issue is that other cryptos have given better returns year-on-year vs. Bitcoin...especially in the past week to a month. During that period BTC went up 100% but some of its closest competitors in market cap have returned 200-300%....or better.

I am sure that majority of the coins will be having scalability issue in the future when there are as many users there are with bitcoin ,with rising value of bitcoin it is inevitable to pay higher prices for transactions and that is how things work here,and most of the currencies went up because the price of bitcoin sky rocketed and there are some coins which had their rally in the meantime like IOTA.

yoseph

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Since it's the pioneer in the field of crypto currency, it's not really surprising that a lot of people are more into it than the other crypto currencies and also it's making them a lot of profits compared to the others.

Clavulanic

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Quote from: MakersONE on December 14, 2017, 03:50:37 PM

Because whichever way you are, the price of all alternative coins depends on the price of bitcoin. And a part of your deposit should always be kept in the main currency. It does not matter what happens to it today, if tomorrow it will still grow.

I agree on that and maybe it is simply because people really see what was really the big advantage in bitcoin than any other kind of coin.As we all have seened bitcoin is really amazing and it canreally change our life it is really simple to use .I really beleieve that bitcoin can run throug a decade or maybe forever because it is now gdtting more popular than the past few years.

MakersONE

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Because whichever way you are, the price of all alternative coins depends on the price of bitcoin. And a part of your deposit should always be kept in the main currency. It does not matter what happens to it today, if tomorrow it will still grow.

faceoff97

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Quote from: 1kings on December 13, 2017, 04:55:23 AM

It's called the pioneer advantage. There's hardly any coin pitching without mentioning BTC and it's success.
BTC is the crypto standard.

This is true, bitcoin have gain credibility over the year and also been established really well. Probably, bitcoin will have big transaction fee but surely still will attract people becaise of tremendous growth and unique technology from any other coin. Its pretty sute that bitcoin will continue gain popularity and demand because its is the most known crypto currency. Indeed, bitcoin is the standard of all newly made coins.

ace9989

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Merit: 11

Bitcoin is the first and like a god father on all of the cryptocurrency that are present today because if there's no bitcoin there no altcoin also.

Topic: Why are so many devoted to Bitcoin vs other cryptos? (Read 614 times)