Topic: Why Bitcoin and not any Altcoin? - page 4. (Read 1088 times)

For more technical answers, some have answered. Why Bitcoin and not Altcoin? Because the amount of Bitcoin supply cannot be manipulated from 21 million created. For Altcoin, it can be manipulated by changes in the amount of supply.
In addition, because of the value of Bitcoin.

It started with Bitcoin and Bitcoin is the number 1. Maximally decentralized and the users control the development. If a cryptocurrency is recognized as a legal payment in a country, then it will be bitcoin first. I would be surprised if it is any other currency. Altcoins are mostly under the control of the developers and no matter who has the power, it can be used negatively and that is not the case with bitcoin. Many (or almost all) Altcoins are only used for speculation or gambling from a financial point of view, but people really want to own bitcoin and if you are in the club of 1BTC, then you know that there are not more than 21 million others who have the same status, or even if there are only 15 million people in the world.

Yes it is true that there are many altcoins currently in the market which are technically much better than Bitcoin but people don't trust other coins like Bitcoin and usually don't invest large amounts in them like they do in Bitcoin.  Bitcoin was the first crypto coin to launch coins using cryptography.  And Bitcoin's aim was to launch a p2p cash system and they did it successfully. Bitcoin has a lot of real value and there is a guaranteed return on investment, so everyone is looking at Bitcoin more than other coins.

I don't know any altcoins that are better than Bitcoin. The question is, better in what? Are they more decentralized? I don't think so. Are they more reliable in the long run, or more secure due to a strong community and high market capitalization? Not really. Are transactions cheaper and faster? Perhaps they are, so that could be an argument.
Bitcoin is strong, the market cap is huge, it's a PoW currency, and it's been #1 since it appeared. That's why I choose Bitcoin over any other altcoin.

Bitcoin was created with the goal of establishing neutral and decentralized money to protect us from centralized fiat systems. The creator of Bitcoin left a message in the first block (the Genesis block), quoting a headline from The Times that read 'Chancellor on brink of second bailout for banks.' During the 2008 financial crisis, central banks injected massive amounts of newly printed money into circulation to bail out banks. The price of this rescue was paid by ordinary people like you and me, as our hard-earned money and savings lost value. The value was lost because money created out of nothing devalued our hard-earned money. Injecting money into circulation in this manner causes inflation, which we experience as a decrease in purchasing power. It's clear to everyone that €100 today can buy much less than it could a year ago. That's inflation, or a hidden tax that we all collectively pay.

That was the motivation behind creating Bitcoin.

On the other hand, with altcoins, the motivation was for their owners to enrich themselves by plagiarizing Bitcoin and selling a similar story. Analyzing all these figures like Charlie Lee, creator of Litecoin, Vitalik Buterin and Joseph Lubin, creators of Ethereum, Justin Sun, creator of Tron, etc., these are all individuals of low moral and ethical standards.

Another crucial point is that Bitcoin is widely decentralized. Decentralization primarily means that no single participant in the network has the ability to impose or change the rules by which the network operates independently. Network governance is decentralized, and the power to manage is distributed among all participants in the network. This is a fundamental characteristic of the Bitcoin network: no single individual, company, or government of any state can 'take over' the network and unilaterally change its rules, unlike other cryptocurrencies ('shitcoins') where companies and developers who created those cryptocurrencies control them and can change them as they wish, as Vitalik Buterin and the ETH Foundation do. They have already changed ETH's monetary policy seven times. ETH resembles more a fiat system where a small group of people, akin to a central bank's board, prints new money.

I think Bitcoin is safe to invest from both security point of view and investment point of view. I have seen people investing in Bitcoin and then getting the profit that they want. Altcoins are also good but they are more volatile then Bitcoin.

Bitcoin can make you wait for long but it will ensure you some very good profits. Blockchains have been hacked and we have been hearing it for some time but Bitcoins are the most safest amongst all of them.

The risk comparison will of course never be the same between one investment and another, such as Bitcoin and altcoins, both of which have different risks and potential profits for a certain period of time. And if you compare Bitcoin investment with altcoins, it is clear that Bitcoin will remain the favorite of many people because apart from being able to see the evidence which is quite clear, there are also several other facts where altcoins in general will not develop well if Bitcoin market conditions are bad, such as in the current example.

Apart from that, altcoins also have the potential to disappear on the market if they are still very new and don't have a strong network or fundamentals as altcoins. Meanwhile, Bitcoin was never like that and is still seen in many markets today so that altcoins are clearly inferior when compared directly with Bitcoin and this of course creates a greater risk if investors invest in altcoins.

Many years ago, there were many projects that liked to compare with bitcoin with the purpose, as you said, of attracting the attention of investors to their projects. But in recent years, I no longer see projects that want to compare to bitcoin, and the majority of altcoin projects today are created to solve different problems. But in the end, all are just false promises in theory, no project can bring real value and gradually disappears after a while.

The failure of altcoins is because they don't really want to create use cases, utilities, and applications that can be brought into the real world. They just want to create hype around it to scam investors and disappear, which is why people gradually get disappointed with altcoins and go back to bitcoin.

All investments have possible risks that are worth it with possible profits so I think whatever investment choice you should be aware of the risks and possible profits but it cannot be denied that Bitcoin has provided proof that investing in Bitcin is quite safe for the future so that is what makes many people's trust.
For those who invest long term, there are many aspects that must be considered and of all that, Bitcoin has everything that is better than Altcoin, so I think for long term investment there is no other choice than Bitcoin.

Everyone has its own logic to prefer BTC or alts but for me the first choice of investment is BTC since it's fully decentralized and it's the only coin that drives the crypto market. Alts goes up only if BTC goes up or vice versa, It's better to focus on the power that drives the crypto market rather then alts who are dependent on BTC for price variations. 

Those altcoins want to be compare to bitcoin because they owner of the project want to divide the attention of the investors then think about that there project is also good alternative to invest.

But some of them failed because they didn't manage to handle well their project since either they scam their investor or didn't follow what they are promising to their investors that's why lots of people leave them then go back to bitcoin since they realize that there's no other altcoin is better than bitcoin.

But for sure we can read a lot of reasons and also its interesting to read peoples argument towards bitcoin and altcoin.

But besides those millions of failed altcoin projects, we cannot deny the efforts of altcoins such as ETH, BNB, SOL...They still exist and continue to develop further even though many projects have disappeared from the market over the years. Or meme projects like Doge, shiba, they still exist today and we cannot deny their existence.
If we plan to invest for long term and need privacy then bitcoin is the top choice but if we also want to earn high profits in medium to short term, I think investing in some top altcoins is also not very bad. As for new altcoins, they should be avoided or only for those who are adventurous and willing to take risks.

Up to now, there have been many Altcoins that have superior technological improvements to Bitcoin, but there is one thing that can never be compared to Bitcoin is decentralization. That sets bitcoin apart from the rest of the crypto industry, so to date, no Altcoin has been able to surpass it.


In my opinion, only LN is layer 2 of bitcoin, while BRC20, RUNE, ODRI...are all just memecoins developed on BTC and they will soon become trash when the bull season ends. For the bitcoin ecosystem, we have projects like babylon, merlin, bitlayer...called layer 2 but everything is just in the development stage and I don't appreciate them.

Regarding bitcoin transaction fees, I don't think they will return to normal anytime soon unless we have some concrete solutions because the memes will continue to be created and the congestion will not stop anytime soon.


I am also not a bitcoin maximalist but I do not deny that bitcoin will always lead the market and no altcoin can replace or surpass it.



source: X.com

There's alot of different reasons

Like others have said it's more of the first move advantage. The same way i hate what Facebook has become, promoting scams, promoted clickbait, dumb tiktoks... I see 20 of these "promoted contents" before i ever see anything from a friend. I think a lot of people have grown tired of facebook.  Look at it this way, Twitter will have "some" of your friends, Reddit "some" etc, etc.  But Facebook will have all.

Bitcoin is the same way, you know that bitcoin will be excepted everywhere, you know all other cryptos are tied with the value of btc.

When crypto just started and there were just a few altcoins, if the transaction fees of btc were higher back then,i think there would have been a good chance ltc replaced btc, but now with hundreds, there isn't going to be a universally agreed upon "better" option.  It would take something 100x better to stand a chance.
So one reason is convenience.

Another is Stability.
If everyone did decide a better primary coin, btc would drastically drop, there are a lot of long term holders making btc somewhat stable, if people realize that their investments could be erased the second a new, better technology came out, then there would be nothing but panic selling.

Another is Distribution, The way btc was distributed before it ever had a value is what makes it fair, All of these new altcoins with presales and premined coins are never going to get the support btc did. bitcoin rewarded the community who had faith in it's value, Not a group of people at the top. I think the most amazing thing about btc, is that the creator hasn't touched or profited off of the coins mined.

Lastly, Function, The purpose of btc is to be a currency. btc's true value is fast global transactions, anonymity, transparency, and decentralization, at a time when banking services like PayPal were king, btc provided what the world needed. And now you have countries with collapsed economies surviving thanks to btc, war torn countries, etc. Those uneducated of crypto think it's a way for shady transactions, money laundering, funding terrorism, but it's so much more than that. It's an equalizer between the powerless and powerful, And i think "PoS" would destroy that. So another reason is why? Speed and lower fees would be nice, but the way btc currently is, they're not huge issues atm. And most altcoins, aren't intended as a "currency" they're assets that provide completely different uses. I don't exactly see other coins such as Ethereum as a "currency" esp not the meme coins.

I have had the same experience years ago, remember the ICO days? I invested in some ICO projects before. I really thought that it will be profitable later on. However, the site was abandoned and no chance of getting back even the coins that I bought. Learned the hard way. I believe a lot of investors lost during ICO days, and a lot of them are now dedicating their resources to bitcoin.

Also, some projects which are offering staking of their tokens. This for me, was another failed venture. The price may be good at the start but most staking projects will decline its value later on. Very few can survive in the trading market.

Bitcoin is Bitcoin, no other altcoin compares to Bitcoin. But if you're looking to invest in anything other than Bitcoin, I'd say you're living in a fool's paradise. But you should note that Bitcoin is long-term and has remained faithful to the market for a long time, best suited for long-term holdings as its price will increase significantly in the future.

Low risk, high durability, investing in Bitcoin is a must if you want to fully develop yourself. But you will never find this opportunity in Altcoins, chances are high that Altcoins will be wiped out from the market before then.

Really - that's a really valuable lesson, but it's a shame that you might get lured into an altcoin that tend to be valuable because of a pump and dump scheme.

Personally I also have a high focus on building my portfolio with bitcoin - but I don't ignore all the potential that altcoin have. Some altcoin are also worth including in an investment portfolio due to their price appreciation potential - but when it come to use cases and decentralization, then bitcoin should be at the forefront.

Altcoins can't replace Bitcoin because it's the pioneer that allowed those altcoins to be what they are and without it those altcoins won't be able to get any success. Let's say if somehow Bitcoin fails then who will consider investing in altcoins?

The answer is no one because if the first cryptocurrency who everyone considers as a good asset fails then those cryptocurrencies that came after it can also fail without any doubt. Even if you're a trader you pretty much know that when Bitcoin gets a DIP then others get dipped multiple times.

If you check the previous bull run then you can see that when Bitcoin went to $16k value then most of the altcoins have lost so much of their value and some of them even got delisted by the exchanges as they no one had enough liquidity.

That's why I believe it's Bitcoin that allow all other coins to be whatever they're and without Bitcoin they won't be able to make it even if they offer 100x better features. Bitcoin is the king of the crypto world and it will remain as the king of it forever. It's the community that made Bitcoin the king and the community will always keep supporting their king.

I'd say that's the keyword? Altcoins failed in trying to be a better Bitcoin, and that's pretty much why Bitcoin is still the top choice even till now. Well, I pretty much started with it because I was curious about it's decentralized nature, and even till now it stands at the top even as one. Not to mention that on most bullish seasons, most alts follow the price of Bitcoin. Pretty sure that already speaks volumes about how much sway the coin can have on the market.

Bitcoin isn't a pump-and-dump compared to most of the altcoins out there that have been thought to be like that.

With how Bitcoin has been there for so long, its uptime is 99.98%

https://bitcoinuptime.com/

While some of the altcoins, the most common ones. They have their downtime for so long and they're even reported to the media.