Topic: Why bitcoin is called and valued superior still? (Read 179 times)

You see I don't know much about the technicality of POW or POS or anything of such but I want to argue in one direction as to why people think bitcoin is the king.

1. Not everyone thinks so, just the majority thinks bitcoin is the king and the majority will always have their way while the minority will have their say. If they can convince enough people to their side, they can then become the majority.

2. Outside the community of some other crypto community, a lot of people who are involved in crypto don't know anything else other than bitcoin and when you tell them the existence of others, it seems you are saying gibberish. This set of people are most the majority of those interested in crypto so to them, bitcoin is the only one and thereafter the king.

3. You have mentioned a lot of problem in bitcoin which is valid but I don't know one particular coin that solves all the problem for everyone to focus attention on rather you see several coins claiming to replace bitcoin, better than bitcoin, next bitcoin among several names. Tell me, how do I take such serious when I don't even know which one exactly.

Kwuk you did it again, You are stirring FUD again I really think that bitcoin and altcoins have their own striking innovations and issue's with bitcoin was settle and if there are problems they will surely have a solution to that, Altcoins and new ICO sure have their own problems so there are no perfect system in the crypto world, let's say there are no superiority but there is a leader in them to sure conquer and because bitcoin was a first ever Cryptocurrency that is why it is in the top of the rank and we can never see any other coin will be taking that spot for the time being.

Bitcoin experienced a lot of issue but they already been solved unlike altcoins are trying to promise to people that they service would more greater than bitcoin but the fact they are also having the same issue that bitcoin already experienced..
Just imagine if you bought a local cellphone the quality of the product is low that you are buying original cellphone. its just like the same as bitcoin altcoin..
Its just a normal that we are seeing price drop because it can be also experienced in altcoin and most likely they are turn into scam until the price is no value..

Bitcoin is the not only the first mover but it's also the most tried and true and tested and secure. It's the only coin architected by Satoshi. The other coins have not been as well battle tested and may have vulernabilities. Bitcoin is the oldest coin, which is an advantage in software. Bitcoin isn't static. Old software is not like old hardware - software is a living thing. The large and respectable developer base can upgrade bitcoin and add the features of any other coin at any time. However they have been slow at doing this for the very reason I have stated above. Bitcoin must represent the most secure coin, with only the most secure companents, for financial purposes. And finance is where all the money is right now. If you are looking to put away $10 million, then you are looking at Bitcoin, and don't care about anything else or any other features, and don't mind paying $10 or waiting for a 10-60 minute confirm, which isn't really even needed unless you are sending to an exchange or a merchant. We dont need all the bells and whistles and gimmicks of the other coins if they could in any way jeapordize security.

Op, I think your last sentence has said all! bitcoin remain superior because of the teams behind it and amount of bitcoin they are holding. Some of the whales has a very large holding in bitcoin and they might not ready to take the risk of not seeing bitcoin remain bullish trends and momentums . Bitcoin has done well and to me I can sell any coins and hold my bitcoin because it seeing secure than any other coins in the market including the almighty ethereum and ripple combined.

It's something often referred to as the first mover advantage, bitcoin was the first and so it will always have an advantage and be ahead of where it would be had it have come later or even at the same time as many of its rivals.

NXT uses very old first generation PoS, basically all problems have been resolved at this point.
Plus there are other solutions to PoS as i mentioned.

You really think Eth would move to PoS if it was a bad idea? (Yes i know it will be hybrid at first and moved full post at a later stage.)


Have we? Source? I don't know anything about this.

simple: there's more uses/applications compatible with Bitcoin than all other coins/systems. that could change... but it is still like that. bitcoin is the mother coin. i have yet to see an altcoin-only ATM :p

Stopped reading there because it's simply fake. We've already seen how PoS can be gammed (NXT), we've already seen how the tangle thing can be gamed (IOTA), and the list goes on. All of the ones that hasn't been exploited will if they big enough to matter. None of these projects are robust enough to be able to handle trillions of dollars worth of capital, don't be delusional, there's no alternative to PoW currently. Nobody with enough money and knowledge is going to diversify their capital into any other crypto but Bitcoin and maybe a small amount in other only for speculative purposes but not believing in how safe your wealth is on these (this is why all these shitcoins pump).

Just more kwukduck nonsense still wondering why Bitcoin is king.

Yes of course, i am tired about that kind of people who are always trying to spread fud in order to make other people sell their coins.
And sandly, it is full of that people in here, but what can we do? Nothing.

all of these altcoins have lots of issues. none of them are "superior" in any way. the problem is, they are not used or reviewed so their problems stay hidden until they gain some popularity so that "smart eyes" start looking at them and see their issues.

for example many altcoins have been advertised to not have the scaling problems of bitcoin. like ethereum. but when the reality hit, we saw that the problems are even worse for them!
now ether guys are promising a fork that will solve the problem that was not supposed to exist according to their advertisement!

that is the biggest reason why bitcoin is staying superior. otherwise if these altcoins were good for real, they would have replaced bitcoin already...

The communities arguments keep getting better and better.

As much as i like coincidences as the next guy, i doubt Bitcoin value will rise.
We've clearly entered a bear market. Bitcoins dominance keeps dropping every day, it's almost under 30%
More and more people are realizing what i just talked about here in my original post.

Instead of solid arguments all i see is shilling.
I remember a time when the community looked down at this.
When it still valued innovation, tech and solid arguments.

If kwukduck needs to spread FUD, the bear market is nearly ended. Prepare to buy

oh its you again !!! everytime I see your name, btc will moon....

With so many innovations in the crypto space and solutions for every problem bitcoin has.
I keep on hearing that Bitcoin Core is still King of crypto, and not only in market cap.

"They have by far the biggest and best team behind it."
- Orly? What have they done? We're still using old code and innovation is nowhere to be seen. Instead we are seeing bankster like solutions being proposed by this group.

"Bitcoin has the most secure network."
- Orly? Only if you discard anything else than PoW. Proper implementations of PoS, BFT, PoR, PoB are much more secure than PoW and they don't waste gazillions of valuable energy and don't pollute the environment.

"It's the mother of crypto."
- So what. Parents die, children prosper. *repeat*

Let's sum up what other innovations we have in crypto space that Bitcoin does not offer.
As a currency:
- Fungibility.
- Privacy.
- Anonymity.
- Smart contracts.
- Scalable p2p network.
- Secure 'green' mining/network.
- Sustainable fee/mining reward setup.
- Decentralization.
- DNS.
- Governance.

Other:
- Secure Communication/messaging.
- IoT compatibility.
- Data storage.
- Decentralized web.
- Exchange.


There's probably a bunch more i can think of.
The question remains, why is bitcoin seen as superior and valued as such while it offers almost nothing? Even at it's basic function it is surpassed by almost every other crypto.
The only thing backing it's value is big whales shouting how awesome bitcoin is because they have a big stake in it.