Why Bitcoin has power nowadays ? - page 27.

PokerFace3

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Quote from: dihari on January 14, 2017, 07:47:11 AM

The power of bitcoin cone from peoples trust on crypto currency and blockchain technology. Peoples do believe this technology will bring a good atmosphere of global economy in the future.
Online transactions is future economy, and bitcoin give an easy and ease to spend their money in the internet.
So if we talk about the power of bitcoin, we talk about the user of bitcoin it self.

Bitcoin is a new form of currency that is just beginning to hit the mainstream, so many people still don't understand it.

Bitcoin has power because it has a lot of advantages over the fiat, unlike fiat bitcoin cannot be controlled by governments or banks which means they cannot take it away from you, and so it is secure that no one could steal it from your wallets.

ged00u

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Quote from: bravehearth0319 on January 15, 2017, 04:54:25 AM

Probably, It is because Bitcoin is the original and number 1 digital currency in online system, And build quickly a big community to patronize it that's why it increase rapidly just like a skyrocket. So no wonder why it is power compare to all coins in crypto and besides all of the coins in crypto currencies are just a clone due to they clone bitcoin.

Actually, it is not because Bitcoin is the number one digital currency. Other cryptos are better and more secure and have more power than Bitcoin. The reason why bitcoin is so powerful nowadays is because it is an origin. That's why people love to use it. And at present, it is playing an important role in the ecosystem so that it has some obvious influences to our life

bravehearth0319

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Probably, It is because Bitcoin is the original and number 1 digital currency in online system, And build quickly a big community to patronize it that's why it increase rapidly just like a skyrocket. So no wonder why it is power compare to all coins in crypto and besides all of the coins in crypto currencies are just a clone due to they clone bitcoin.

Mastsetad

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Quote from: n691309 on January 14, 2017, 10:02:42 AM

Quote from: qiman on January 14, 2017, 05:50:24 AM

More and more people around the world are seeing the multiple uses Bitcoin has in which to enhance their lives, not just as a store of value, but as a cheap way to send money back and forth, especially those who have family members in developing countries at home where usually remittance fees in fiat are very expensive.

Bitcoin has a good future, it's not that bitcoin has power nowadays, even though it was the first one and known as an innovation it was also powerful in the past and was a good motivation and still is for others to start a new cryptocurrency adding other features that bitcoin does not have.

Probably many people have tried making something new getting inspired by bitcoin but they could never beat bitcoin in doing that, because bitcoin has got its own value in the community which nothing else can take until it finishes forever which is a dream which can never come true IMO.

agamasrori

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Quote from: Pab on January 14, 2017, 08:46:48 PM

Becouse Chinise are making money on btc

Probably you are right, chinese is really skillfull to make money. Although china have the most of bitcoin but another country such USA and Russia is begin to be player of bitcoin. Bitcoin is strong as long as so many people use it as currency.

Pab

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Becouse Chinise are making money on btc

ZrCoin

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Quote from: praboso96 on January 14, 2017, 03:09:18 PM

Quote from: n691309 on January 14, 2017, 10:02:42 AM

Quote from: qiman on January 14, 2017, 05:50:24 AM

More and more people around the world are seeing the multiple uses Bitcoin has in which to enhance their lives, not just as a store of value, but as a cheap way to send money back and forth, especially those who have family members in developing countries at home where usually remittance fees in fiat are very expensive.

Bitcoin has a good future, it's not that bitcoin has power nowadays, even though it was the first one and known as an innovation it was also powerful in the past and was a good motivation and still is for others to start a new cryptocurrency adding other features that bitcoin does not have.

Yes, Bitcoin is very convenient system. It is very good that this system provides anonymity. Another positive factor is that the price of Bitcoin almost always grows. But we must not forget about caution

Also probably bitcoin has power nowadays because it is the first crypto currency and it is the 'only currency' that isnt affected by a government. I think people like this freedom or illusion of it... and its a market with high liquidity.

praboso96

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Quote from: n691309 on January 14, 2017, 10:02:42 AM

Quote from: qiman on January 14, 2017, 05:50:24 AM

More and more people around the world are seeing the multiple uses Bitcoin has in which to enhance their lives, not just as a store of value, but as a cheap way to send money back and forth, especially those who have family members in developing countries at home where usually remittance fees in fiat are very expensive.

Bitcoin has a good future, it's not that bitcoin has power nowadays, even though it was the first one and known as an innovation it was also powerful in the past and was a good motivation and still is for others to start a new cryptocurrency adding other features that bitcoin does not have.

Yes, Bitcoin is very convenient system. It is very good that this system provides anonymity. Another positive factor is that the price of Bitcoin almost always grows. But we must not forget about caution

n691309

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Quote from: qiman on January 14, 2017, 05:50:24 AM

More and more people around the world are seeing the multiple uses Bitcoin has in which to enhance their lives, not just as a store of value, but as a cheap way to send money back and forth, especially those who have family members in developing countries at home where usually remittance fees in fiat are very expensive.

Bitcoin has a good future, it's not that bitcoin has power nowadays, even though it was the first one and known as an innovation it was also powerful in the past and was a good motivation and still is for others to start a new cryptocurrency adding other features that bitcoin does not have.

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Reasons why Bitcoin has lead over other cryptocurrencies-
1. Bitcoin was the first cryptocurrency invented. Naturally, people first adapted to it.
2. Bitcoin is now being accepted by number of merchants. Other alts may not find easy to establish in market where Bitcoin is already catering their needs.
3. The value of Bitcoin is higher than other cryptocurrencies. The value of Bitcoin enables it to transact a big market. Since all cryptocurrencies have limited number of units so it may not possible for others to cover such large market because of lower value.

Tanic

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Quote from: dihari on January 14, 2017, 07:47:11 AM

The power of bitcoin cone from peoples trust on crypto currency and blockchain technology. Peoples do believe this technology will bring a good atmosphere of global economy in the future.
Online transactions is future economy, and bitcoin give an easy and ease to spend their money in the internet.
So if we talk about the power of bitcoin, we talk about the user of bitcoin it self.

There is a huge demand for bitcoin now and that's is the reason of it's power. The number of bitcoin is limited and not everyone can have it. people who believe in bitcoin are collecting it cause of it's future perspective. By prognoses the price will fly to the sky. And those people who wish to have easy money just making bitcoin and selling, cause of the price is already high.

virtualkeybuyer

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Bitcoin has power nowadays because it is really a powerful currency and that is my opinion. Bitcoin is a currency which have much attractive features and it gives much benefit of people from all over the world and because of that people are adopting it. The other feature is that it is decentralized that is the reason people do not feel fear having this currency so most of the people support it because of this feature too.

dihari

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The power of bitcoin cone from peoples trust on crypto currency and blockchain technology. Peoples do believe this technology will bring a good atmosphere of global economy in the future.
Online transactions is future economy, and bitcoin give an easy and ease to spend their money in the internet.
So if we talk about the power of bitcoin, we talk about the user of bitcoin it self.

Choy13

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Quote from: iv4n on July 18, 2016, 10:39:51 AM

Everything is good, except headline. Its not nowadays, its something that has been preparing for years, and I just comment one guy that said " bitcoin hasn't reached full potential yet", here is my opinion the same. Bitcoin have power now, but its just the beginning of something amazing.

I think we can expect something big to happen soon, many people have same opinion as I do. Maybe we are right, time will tell, I expect things to start around October.

Yea. Bitcoin should have minor upgrades for it to progress and to have a better power for the future.In that case majortiy of people would support and use bitcoin. Resulting for a great value of bitcoin and many buisness would support and accept the bitcoin in transaction system.

qiman

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More and more people around the world are seeing the multiple uses Bitcoin has in which to enhance their lives, not just as a store of value, but as a cheap way to send money back and forth, especially those who have family members in developing countries at home where usually remittance fees in fiat are very expensive.

Reid

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Quote from: yayayo on June 23, 2016, 09:58:48 AM

The reason why Bitcoin is the number one cryptocurrency is pretty simple: It was the first one. This first mover advantage persists, because Bitcoin quickly established the biggest support both from users and from developers. Having the biggest user and developer base maintains a strong network effect, that tends to draw in more users and developers, because the system appears attractive and is well-established as a payment system.

For any altcoin to compete with Bitcoin, it would have to offer something revolutionary new and useful, that can't be implemented by Bitcoin. Today's altcoins are mainly a testing ground for new ideas, that will end up being added to Bitcoin if they are good, leaving the altcoins that first introduced them behind (a current example for could be rootstock vs. ethereum).

ya.ya.yo!

Definitely correct. With its time that have been with the world it created a good and established trust for many users. If ever more altcoins will pop up it will be a problem with time. You cannot just take over with someone who have been there and created a strong trust for many people. They would also need support (new ones) which bitcoin does already have and new ones incoming.
That is why many alts just come and go.

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Quote from: Fatanut on January 14, 2017, 02:50:38 AM

Quote from: dhampir-D on January 13, 2017, 10:18:31 PM

I think what really makes Bitcoin valuable is that it's one of the few ways to send, receive, and store value in a decentralized way, being simply enough so that anyone around the world can use it, and at a very low cost.

I wouldn't say that it is the exact reason why bitcoin is valuable. Bitcoin is valuable because people buy bitcoins and nothing else. We're the ones giving bitcoin values. Those are just the basic use of bitcoins.

Altcoins, for example, can do that as well. There are altcoins that are worth 1 satoshi yet they can also send, receive, and store value in a decentralized way. You can even send altcoins faster than bitcoins but look at the price of some of them. The reason why it's so low is because people don't give value to that coin. They simply don't buy it so the price is like that.

Yes, bitcoin has got value because of the demand and then it is partly due to market manipulation. There's nobody to prevent market manipulation for bitcoin and people are hoarding bitcoin when prices starts to climb. They sell when there is bad news such as hacking or government laws or comments which can affect bitcoin. But what makes bitcoin truly special is that it has started a whole new revolution. The decentralized, crypto currency revolution.

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Quote from: dhampir-D on January 13, 2017, 10:18:31 PM

I think what really makes Bitcoin valuable is that it's one of the few ways to send, receive, and store value in a decentralized way, being simply enough so that anyone around the world can use it, and at a very low cost.

I wouldn't say that it is the exact reason why bitcoin is valuable. Bitcoin is valuable because people buy bitcoins and nothing else. We're the ones giving bitcoin values. Those are just the basic use of bitcoins.

Altcoins, for example, can do that as well. There are altcoins that are worth 1 satoshi yet they can also send, receive, and store value in a decentralized way. You can even send altcoins faster than bitcoins but look at the price of some of them. The reason why it's so low is because people don't give value to that coin. They simply don't buy it so the price is like that.

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Because some of the investors choose to invest on crypto currency rather than commodities. Maybe investing in cryptocurrency is easy and to have a good and high profit in return.

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Quote from: KennyR on December 30, 2016, 12:26:11 AM

Bitcoin is powerful from the days of its existence, because it has some value in terms of dollar or other currencies. I believe the true power is the support that bitcoin gained from more users, though its never promoted through different advertisement or through media's.

I think what really makes Bitcoin valuable is that it's one of the few ways to send, receive, and store value in a decentralized way, being simply enough so that anyone around the world can use it, and at a very low cost.

An interesting aspect you mentioned is the fact that Bitcoin achieved all this without much advertising. This is important because it shows that much of what was achieved was a result of Bitcoin's potential to solve real-world problems.

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