Topic: Why Bitcoin is more valuable than others coins? - page 2. (Read 687 times)
If viewed from the history of course we will know what is bitcoin and others follow behind him. So in other words, this bitcoin is the main idea of coin-coin that many popping now. The new coin is trying to adopt and make it superior to bitcoin. But the virtue of this bitcoin is unmatched by any other coins.
Ofcouse bitcoin has a great value coin in the past year they have proven bitcoin has a large community and it has an update fast transaction other those coin.
we see a lot of coins born everyday trying to make faster transactions and less block time why can't other coins for example litecoin overtake bitcoin price? what makes it so special? any bitcoin experts?
Even though there are so many altcoins which better than bitcoin but people prefer to invest their money in bitcoin the reason why they prefer bitcoin to those coins since bitcoin is more decentralized than others and safer. Bitcoin isn't suited for small transaction due to higher fee and low confirmation that's why people created altcoin to address this issue. As we can see the price touch the highest point right now it means people trust it.
For many reasons.
It is widely accepted since it's been there for longest
People have put trust in it first
So many coins have been misplaced thus supply has been decreased
Futures are starting on Bitcoin first
Investors can buy bitcoin through trading platforms
and list goes on
It is widely accepted since it's been there for longest
People have put trust in it first
So many coins have been misplaced thus supply has been decreased
Futures are starting on Bitcoin first
Investors can buy bitcoin through trading platforms
and list goes on
we see a lot of coins born everyday trying to make faster transactions and less block time why can't other coins for example litecoin overtake bitcoin price? what makes it so special? any bitcoin experts?
Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars. ... In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin. It is recognized and accepted as a currency by many. Bitcoin is decentralized and limited.But all the other coins are also decentralized and limited. I agree that btc is widely accepted, and that's enough reason why it's valuable that any other coins. Many people trust this old lad because it's a well known coin that proven it's usage and worth, so they invest in it, causing for btc price to rise even more.
In reality it is difficult to determine from a 100% objective perspective the correct value that something should have, since much of it is generated from a merely subjective perspective. But taking into account that there are altcoins with better features than bitcoin whose prices are extremely low, I could say that bitcoin remains at a very high price for speculative and psychological issues of the market.
Bitcoin is more valuable than other coins because it was the mothership and the pioneer of crypto currencies. Other coins may have based their blockchain technology on btc and may have improved it but the fact remains that btc still was first.
I agree that when we talk about value the intrinsic value of something is based on the features it comes with and the use. In terms of crypto currencies however, in my opinion it has more to do with the reach. By reach I mean how many people it has touched so far. Btc being the first crypto currency has since established its market.
The value of fiat currency is determined by the amount of investors willing to put their money in the benefits they can gain from the country having that currency. Value is ultimately determined by the services and goods then you have to factor in the supply and demand for these things. It is the same with btc, having already establishes a huge network and huge market it is now by far the highest priced crypto currency.
I agree that when we talk about value the intrinsic value of something is based on the features it comes with and the use. In terms of crypto currencies however, in my opinion it has more to do with the reach. By reach I mean how many people it has touched so far. Btc being the first crypto currency has since established its market.
The value of fiat currency is determined by the amount of investors willing to put their money in the benefits they can gain from the country having that currency. Value is ultimately determined by the services and goods then you have to factor in the supply and demand for these things. It is the same with btc, having already establishes a huge network and huge market it is now by far the highest priced crypto currency.
The answer is just simple because bitcoin is the main source of all of the altcoins, Altcoin means "Alternative coins" it's just an alternative coin for bitcoin to earn more profit that's the reason why developers and rich investors making an alternative coin to gain more profit in the market
I think that historically, this has been true. Altcoins today generally fall under two categories: forks of Bitcoin and forks of Ethereum. And since both of these are POW blockchains, the underlying incentive mechanisms that make their economies work and promote the network effect are pretty similar.
This might change over the next few years. While I think IOTA is centralized and unreliable, it's "tangle" consensus mechanism is the first glimpse into a new kind of consensus network with different incentives for security.
Hashgraph, too will be a new kind of consensus algorithm built to compete with Bitcoin. Bram Cohen (of Bittorent) is also creating something called the Chia network which will completely swap the POW security model for something called "proof-of-time." It seems we are leaving the era of Bitcoin clones, and into a new era of real potential competitors that offer something innovative and different.
we see a lot of coins born everyday trying to make faster transactions and less block time why can't other coins for example litecoin overtake bitcoin price? what makes it so special? any bitcoin experts?
That is fact that a lot of currencies are there but still the number one is bitcoin and the reason being this is that bitcoin is the most trusted currency and the number of bitcoin users are more than any other crypto currency. we see a lot of coins born everyday trying to make faster transactions and less block time why can't other coins for example litecoin overtake bitcoin price? what makes it so special? any bitcoin experts?
Because bitcoin is the most used digital cryptocurrency in the world and it is known as the king of all cryptocurrency . It has a world breaking price other than all the digital cryptocurrencies and i hope it price will become even more and more higher in the future. we see a lot of coins born everyday trying to make faster transactions and less block time why can't other coins for example litecoin overtake bitcoin price? what makes it so special? any bitcoin experts?
The answer is just simple because bitcoin is the main source of all of the altcoins, Altcoin means "Alternative coins" it's just an alternative coin for bitcoin to earn more profit that's the reason why developers and rich investors making an alternative coin to gain more profit in the market if their coin has become successful and one of the reason why other big altcoins can't overtake bitcoin because so many investors trusting bitcoin unlike other altcoins because it is the main coin as you see bitcoin starts with a very low price and big investors see it has a potential to get higher and higher until now so they have a trust on it and second you can't buy altcoins without buying bitcoins so it will affects always the price of bitcoin but we can't predict the movement of those coins in the future but be thankful because we all advantaging those coins 
may be just a matter of time, bitcoin has long been developed to date on the appeal of another coin that can be said is still new. eth, ltc etc their price is growing because they have been a bit longer,
as long as I know the new bitcoin world of coin zec that can override the bitcoin price and it does not last long, and other coin coin like litecoin or eth has never exceeded the bitcoin price, it's probably because bitcoin is the first coin created and becomes the coin as the benchmark price, and mostly to enter the coin altcoin we also have to pass the bitcoin first.
I think the same way, For example back in the 70's and 80's memory was a big thing to store data and was expensive later on floppys came in then cds now memory is so cheap and you can store it even on cloud so I have a strong feeling that some other coin with better features will overtake bitcoin one day.
We can't rule that out. Nobody can predict the future. I will concede that much.
But let's be honest. No altcoin developer team comes even close to matching the skill, devotion and technical mastery exhibited by the Bitcoin Core developers. Eight years of ~ perpetual up-time, minimal disruption, and no major security failures at the protocol level. And this is not working on something like a Linux fork. This is consensus-critical software backing a live network. There's really not many people in the world who are capable of this kind of programming.
As long as Core continues to absorb the world's most talented developers, I don't see how an altcoin can win.
we see a lot of coins born everyday trying to make faster transactions and less block time why can't other coins for example litecoin overtake bitcoin price? what makes it so special? any bitcoin experts?
That is fact that a lot of currencies are there but still the number one is bitcoin and the reason being this is that bitcoin is the most trusted currency and the number of bitcoin users are more than any other crypto currency. It has been asked a lot of times in this forum, and the answer is soo obvious, why dont you try to use Mr Google instead of creating those garbage-posts? it is very useless and it does not helps the community, it is only spamming it.
It is easy mate, bitcoin is valuable only because it has been the first crypto, and because people are only investing in it because it is the most famous crypto. If you talk to someone about cryptocurrencies, they will only tell you that they only know Bitcoin, not all those altcoins.
Maybe you ask them what golem is, and they will reply saying that it is a TV movie, lol.
It is easy mate, bitcoin is valuable only because it has been the first crypto, and because people are only investing in it because it is the most famous crypto. If you talk to someone about cryptocurrencies, they will only tell you that they only know Bitcoin, not all those altcoins.
Maybe you ask them what golem is, and they will reply saying that it is a TV movie, lol.
What is the deal? Is it somehow forbiden to discuss the bigger ramifications of bitcoin on this forum?
Bitcoin is much bigger than simply a cryptocurrency.
We all are finding that out , you are finding that out!
It more than just our personal greed and consumerism.
Bitcoin is writing an entirely new page of human history.
we see a lot of coins born everyday trying to make faster transactions and less block time why can't other coins for example litecoin overtake bitcoin price? what makes it so special? any bitcoin experts?
Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars. ... In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin. It is recognized and accepted as a currency by many. Bitcoin is decentralized and limited.
Network Effect. There are a lot more people using Bitcoin. There is a lot of hashing power backing the network and hence its safety is higher than other altcoins. Some coins with specific features have come close to Bitcoin in market cap, but Bitcoin is by far the leader.
It has been asked a lot of times in this forum, and the answer is soo obvious, why dont you try to use Mr Google instead of creating those garbage-posts? it is very useless and it does not helps the community, it is only spamming it.
It is easy mate, bitcoin is valuable only because it has been the first crypto, and because people are only investing in it because it is the most famous crypto. If you talk to someone about cryptocurrencies, they will only tell you that they only know Bitcoin, not all those altcoins.
Maybe you ask them what golem is, and they will reply saying that it is a TV movie, lol.
First off, I did read about bitcoin and other alt coins in google before I came here. Secondly, I posted this thread just because each person has a different opinion how they see bitcoin as valuable I came here to gather all those opinions at one place. Since, I am newbie here not much activity on my profile I did not know this has been discussed already. But if you feel this is garbage post please feel free to ignore my posts but anyways thanks for your valuable opinion about bitcoin. It is easy mate, bitcoin is valuable only because it has been the first crypto, and because people are only investing in it because it is the most famous crypto. If you talk to someone about cryptocurrencies, they will only tell you that they only know Bitcoin, not all those altcoins.
Maybe you ask them what golem is, and they will reply saying that it is a TV movie, lol.
as long as I know the new bitcoin world of coin zec that can override the bitcoin price and it does not last long, and other coin coin like litecoin or eth has never exceeded the bitcoin price, it's probably because bitcoin is the first coin created and becomes the coin as the benchmark price, and mostly to enter the coin altcoin we also have to pass the bitcoin first.
I think the same way, For example back in the 70's and 80's memory was a big thing to store data and was expensive later on floppys came in then cds now memory is so cheap and you can store it even on cloud so I have a strong feeling that some other coin with better features will overtake bitcoin one day.
We can't rule that out. Nobody can predict the future. I will concede that much.
But let's be honest. No altcoin developer team comes even close to matching the skill, devotion and technical mastery exhibited by the Bitcoin Core developers. Eight years of ~ perpetual up-time, minimal disruption, and no major security failures at the protocol level. And this is not working on something like a Linux fork. This is consensus-critical software backing a live network. There's really not many people in the world who are capable of this kind of programming.
As long as Core continues to absorb the world's most talented developers, I don't see how an altcoin can win.
as long as I know the new bitcoin world of coin zec that can override the bitcoin price and it does not last long, and other coin coin like litecoin or eth has never exceeded the bitcoin price, it's probably because bitcoin is the first coin created and becomes the coin as the benchmark price, and mostly to enter the coin altcoin we also have to pass the bitcoin first.
I think the same way, For example back in the 70's and 80's memory was a big thing to store data and was expensive later on floppys came in then cds now memory is so cheap and you can store it even on cloud so I have a strong feeling that some other coin with better features will overtake bitcoin one day. Jump to: