Why bitcoin is king | Bitcointalksearch.org

X-ray

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Quote from: ? on January 09, 2025, 05:13:12 AM

Bitcoin's main goal is to be a decentralized digital currency and a safe place to keep value. On the other hand, many altcoins want to improve certain parts of blockchain technology. This is what makes Bitcoin different from other cryptocurrencies in terms of how simple and safe it is compared to their many features.

indeed

so many alts are so focused to make their blockchain stand out, thus giving bleeding edge technology, the problem is, once there is another altcoin offering better technology, they instantly become obsolete because their main selling point is their bleeding edge technology, bitcoin on the other hand, just focused on being bitcoin, which is secure and decentralized, it excels at this and has created strong branding that everytime people think of cryptocurrency what's on their mind is bitcoin.

it's also the main reason why institutional investor keep on investing on bitcoin and refuse to diversify to alts too much in my honest opinion.

Franctoshi

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Quote from: ? on January 09, 2025, 05:13:12 AM

Bitcoin's main goal is to be a decentralized digital currency and a safe place to keep value. On the other hand, many altcoins want to improve certain parts of blockchain technology. This is what makes Bitcoin different from other cryptocurrencies in terms of how simple and safe it is compared to their many features.

One of the criteria that makes Bitcoin to become the king is that it's the only truly decentralized crypto out there and no other coin that is truly decentralized like Bitcoin, as well as its transparency, and has proven to be a reliable crypto for over the decade with its price increasing overtime despite all economic challenges that Bitcoin has faced, its price has never been the same after every 4 years, because of its deflationary nature.

bitsurfer2014

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To summarize it all on why BTC is king are some of the following key factors which I think are very critical on its success:

1. BTC is a pioneer cryptocurrency.
2. BTC gained early adoption and mass awareness and utilization.
3. BTC has more secure network and algorithm.
4. BTC has limited supply and its price trajectory is consistent with its supply and demand.
5. BTC is continually gaining wide adoption and mass distribution worldwide.

icalical

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Bitcoin is stands out by its simplicity, security, and the fact that it was the first decentralized digital currency. It boasts a huge network and hash rate, which makes it very secure. While altcoins are aims to claim better scalability and innovation of Bitcoin, which lead to faster transaction and lower fees. I still believe, up until now Bitcoin is the best virtual store of value due to its wide adoption, altcoins often use advanced features but are more volatile and less secure because they react to vulnerabilities much more slowly. It all depends on the trade off between proven reliability with Bitcoin and innovative yet riskier altcoins. All that being said, I have seen Bitcoin has been quite innovative in recent years, I doubt that Altcoins can keep up, if Bitcoin keep being innovative and making break through.

pinggoki

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Quote from: Ever-young on January 09, 2025, 05:34:32 PM

There is always room for change and innovation. For the main time, Bitcoin is dominating all around, not just for being the first, but it has gained trust and popularity. Its censorship resistance alone is one thing that most of the coins that propose a better version don't have.

Until there is a digital currency that will match Bitcoin not just by what the team proposes they will do but by what people value from it, Bitcoin will still remain the king. It was not just crowned king for a day; it's a title that I believe is as important, earned, and well-deserved.

There were changes that have happened already, it just so happens that the changes translated to a new cryptocurrency, that's the reason why the cryptocurrencies after bitcoin was made is because some of these people are still so dissatisfied with the fact that bitcoin is missing something and at the same time they also saw an opportunity of a lifetime and here we are, flooded with all the altcoins, shitcoins, and meme coins. I don't believe that there's a digital currency that's going to match bitcoin ever, doing so wouldn't really sell it well to the people on the market because why would they buy something that's a duplicate of an already established cryptocurrency and the founding one too, what will really sell or rival bitcoin would be something that would either be so unique and so much more utility that what's already been sold here in the market already.

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Quote from: ? on January 09, 2025, 05:13:12 AM

Bitcoin's main goal is to be a decentralized digital currency and a safe place to keep value. On the other hand, many altcoins want to improve certain parts of blockchain technology. This is what makes Bitcoin different from other cryptocurrencies in terms of how simple and safe it is compared to their many features.

The main difference of Bitcoin is its safety. The network is safe while all of these altcoins trying to say that they'll improve what Bitcoin has lacked of, they need to beat this record of Bitcoin's uptime.

Quote from: https://bitcoinuptime.com/

99.98947216918%
of the time since its inception on January 3, 2009 at 02:54:25 GMT

aoluain

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Quote from: wheelz1200 on January 09, 2025, 05:10:33 PM

Quote from: ? on January 09, 2025, 05:13:12 AM

Bitcoin's main goal is to be a decentralized digital currency and a safe place to keep value. On the other hand, many altcoins want to improve certain parts of blockchain technology. This is what makes Bitcoin different from other cryptocurrencies in terms of how simple and safe it is compared to their many features.

A lot of it is decentralization and first mover advantage. A lot of these new altcoins are largely owned by a small amount of people. Dont let the number of wallets fool you. The secokd and probably the most important is first mover advantage. Most of these altcoins dont provide anything that bitcoin already provides. 99.9% of these coins are created purely for tradijg and to make a small ampunt of people money off the backs of others. Why risk your money in a project that can easily just be a scam. Bitcoin provides the least amount of risk, in a very risky market.

100% on above

Bitcoins creator decided to do the right thing and step back, leaving the development
to be decentralised and without his influence ^{intended or not}

Bitcoin is king because of its decentralization, development, security and backing by
miners, node runners and us. All aspects about Bitcoin work in harmony together
to provide us with a global borderless digital currency, digital capital which will out
perform all other capital and somewhere for us to park our wealth for the long term
without it evaporating.

Ever-young

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There is always room for change and innovation. For the main time, Bitcoin is dominating all around, not just for being the first, but it has gained trust and popularity. Its censorship resistance alone is one thing that most of the coins that propose a better version don't have.

Until there is a digital currency that will match Bitcoin not just by what the team proposes they will do but by what people value from it, Bitcoin will still remain the king. It was not just crowned king for a day; it's a title that I believe is as important, earned, and well-deserved.

wheelz1200

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Quote from: ? on January 09, 2025, 05:13:12 AM

Bitcoin's main goal is to be a decentralized digital currency and a safe place to keep value. On the other hand, many altcoins want to improve certain parts of blockchain technology. This is what makes Bitcoin different from other cryptocurrencies in terms of how simple and safe it is compared to their many features.

A lot of it is decentralization and first mover advantage. A lot of these new altcoins are largely owned by a small amount of people. Dont let the number of wallets fool you. The secokd and probably the most important is first mover advantage. Most of these altcoins dont provide anything that bitcoin already provides. 99.9% of these coins are created purely for tradijg and to make a small ampunt of people money off the backs of others. Why risk your money in a project that can easily just be a scam. Bitcoin provides the least amount of risk, in a very risky market.

N.O

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Quote from: ? on January 09, 2025, 05:13:12 AM

Bitcoin's main goal is to be a decentralized digital currency and a safe place to keep value. On the other hand, many altcoins want to improve certain parts of blockchain technology. This is what makes Bitcoin different from other cryptocurrencies in terms of how simple and safe it is compared to their many features.

Bitcoin is unique cryptocurrency in the market and no project will be like Bitcoin because Satoshi Nakamoto made a brilliant network and now Bitcoin is famous all the World anf millions of people became millionaire by that . Very less people trusted on Bitcoin when it was new in the market but after few years they got advantage of mining Bitcoin and miners became millionaires in the past . Now , Bitcoin mining is very difficult but in the past it was not difficult. Bitcoin has bright future and that kind of project will not in the market because many of the projects are controlled by single person because tokens price could go down but Bitcoin is not like that and market control it's price and it's supply is very limited.

Olatundespo

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Bitcoin is a decentralized crypto asset with high value in modern times which has the potential to increase in value in the future. In response to the title of your thread, I think Bitcoin is the crypto king of the world because of its credibility worldwide which is supported by many investment institutions and individuals. Many governments around the world are accepting Bitcoin. In addition, there is very little chance of any liquidity crisis in the Bitcoin market with capital because of its huge market cap. Another important reason for Bitcoin being the king is its limited supply of only 21 million of which most have been mined, which means there is absolutely no chance of inflation.

In conclusion, it can be said that over time, people are calling Bitcoin digital gold which is considered as a country's federal reserve. The United States may accept Bitcoin as a federal reserve in the future along with gold or dollars.

Maslate

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Aside from that, bitcoin has always dominate the market with his rate of over 50%, now currently at 56.8%.
https://coinmarketcap.com/charts/bitcoin-dominance/

That;s back by figures, so we can't just say bitcoin is the king because it was the first and it was the most popular, but by the numbers, its been trusted by crypto investors and dictating the market until now.

martinex

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If your title is the easiest answer is why our parents really like to store gold. Know now BTC is the digital gold even though the price goes up and down sharply. But one thing that is definitely something that makes BTC attract everyone and will continue to come to buy it. Historically the price you can check the price

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Bitcoin's main goal is to be a decentralized digital currency and a safe place to keep value. On the other hand, many altcoins want to improve certain parts of blockchain technology. This is what makes Bitcoin different from other cryptocurrencies in terms of how simple and safe it is compared to their many features.

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