Topic: Why Bitcoin has power nowadays ? - page 38. (Read 26792 times)

The bitcoin developers have worked hard on the SegWit and 2MB block size increase, hope it will increase the usage.

Things don't happen over night. Hard work and dedication over a long period of time was needed for Bitcoin to become the king of crypto. The developers have done a great job and we are going to reach 8 years of existance of a very solid system. No other coin can say this, which is why no other coin will take the #1 spot.

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.

Bitcoin has the power for sure and mostly cause of it's the most well known currency among other crypto correncies, bitcoin had good promotion. And nowadays good promotion makes just miracles.

Bitcoin does have any power. But it is a legal property. So it is protect by common laws. It is not illegal.

When evaluating the advantages of Bitcoin as a “so called currency”,nowadays I think it’s important to recognise how powerful Bitcoin is . Bitcoin is a methodology for achieving distributed dynamic consensus at scale. What this means is that for the first time in history, a vast number of people are able to have agreement, with a high degree of certainty, over the state of an arbitrary data set, without relying on a central authority. The “so called”currency is an integral and necessary component of the system, which ensure users are appropriately incentivised to conduct the necessary action to achieve consensus. The question then becomes not whether the “so called” currency has any advantages, but whether there are any advantages or applications of distributed consensus systems.

Bitcoin has power nowadays because it is the 'only currency' that isnt affected by a government. I think people like this freedom, and its a market with high liquidity.

I think security and openness play a large part in it's success as well. The fact that it is running through purely mathematical algorithms which need to be crunched on powerful computers that leave a traceable public ledger is amazing. It needs public confidence to retain value and it can only do that by being recognised as safe. That means there are few examples, if using the proper precautions, of losing your "virtual" money to exploits or bugs.

I think that not because bitcoin is the first cryptocurrency and being as a new innovation but because also that  the community behid bitcoin have never left bitcoin alone. Many companies have invested in bitcoin and are still working with it, sometimes it is overrated sometimes undervalued.

i don't think you mean technically, do you?
if not, initially when there was bitcoin there was no other crytpo;
its first & has the biggest market cap of all cryptos those two are its most notable differences between btc & other cryptos.

since it was the first, it's had a head start, its publicly best know, there's been more time to actually develop ways for it to be utilized, it has most demand & the biggest market.

how do you define "most common"?

that is a bit overstating.

btc has a ~10 billion dollar market cap (as of today);
that is tiny compared to many markets, there are even corporations many times as big as that;
my point is btc has a long way to go before it's competing with fiats!
(i do believe this will eventually happen though!)

I agree and disagree with some parts of your statement. Bitcoin in pioneer so it is the most powerful but I am not sure it is increasing exponentially, the more people come to internet exchange the more bitcoin fans will be attracts.

bitcoin is the first, and it is the one that started everything in crypto, it's the more safe and more developed, i think the other coisn need to prove to be worth more than bicoin not the opposite, there is still a chance to have a better coin in the future, but there are chance to develop bitcoin even more covering the hole and make it the ultimate cryptocurrency, also right now it's a very good safe heaven

what are you trying to compare bitcoin to when you talk about the power of bitcoin?

if you mean bitcoin is powerful among other cryptocurrencies like the ones that you have named in you comment then i agree because none of the other cryptos (altcoin) are even close to bitcoin in usability.

but if you are comparing bitcoin as a currency with other currencies in general like USD, EUR,... then bitcoin has very little power since the percentage of usage of bitcoin is very small comparing to others.

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!

Bitcoin has become a new power in the world of money as we all know that all sides deal with it so it has to survive until it become the powerful source of life . So what it is difference between bitcoin and other cryptocurrencies? and why Bitcoin has become powerful among other currencies and cryptocurrencies  ?

Firstly ,let us define bitcoin by defining cryptocurrency briefly then pass to make a contrasts between Bitcoin ,Dogecoin and litecoin .
We hear always that bitcoin is the money of the future .this expectation can be taken seriousely when we see bitcoin nowadays and how much transactions executed per day which is surprising . we can say that bitcoin is a cryptocurrency and cryptocurrency is a money which is not traditional rather it is digital or numerical which works electronically ; the most common cryptocurrencies are Bitcoin , Dogecoin and litecoin and bitcoin has something special in contrast to others and this specialty is represented by the number of transcations made per day and its volume, so bitcoin and litecoin and dogecoin differ in their volumes which will interpret to us that bitcoin has power nowadays.

In fact bitcoin is increasing exponentially in volume and numbers of transactions which will get us to the hell of thinking that bitcoin may take the lead of other cryptocurrencies if we don't say that it will take the lead of traditional currencies.because it has power which can fortify its presence in today world.