Why bitcoin is successful? - this one statement sums it up! - page 4.

iamike

jr. member

Activity: 314

Merit: 1

Quote from: avikz on May 28, 2019, 10:05:13 AM

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?

We often look for the answer of these questions. The twitter handle of CryptoKanoon answered it and I can't resist myself from sharing it with the fellow community members.

The tweet says,

Quote

No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings.

I don't think of anything better can be answered against those above mentioned questions! Want to beat it??

Original content link: https://twitter.com/cryptokanoon/status/1132223935058042880

Yes. It is because of its independency and no central government or person is regulating it. Bitcoin is a master of itself. I really like the answer. This should tell people looking for the downfall of bitcoin to step back. You have no person to contact to regulate it wrongly, no employee to do shoddy work to bring it's value down and the likes.

kissme09

full member

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Bitcoin can be successful because whales support it. People with economic potential, dreams of changing the investment trend of the world. Those who have created Bitcoin's success can be known as heroes of Cryptocurrency.

PDAngel

full member

Activity: 574

Merit: 100

Bitcoin doesn't have any administration/consulting expenses. no retiree health plan, no liability, no overhead cost, no pension plan, no asset, Bitcoin will always be worth something and you can spend it easily and i think that is why bitcoin succeeds.

sandra_1

newbie

Activity: 59

Merit: 0

In my opinion - BTC is so successful because it is simply a really impactful brand and name. People have an impression that if it's so popular then it is trustworthy

BitBite5

member

Activity: 210

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Bitcoin was the first cryptocurrency that was created and all other coins tried to achieve such success but it didn't work. No other coin managed to rise the value so much from the moment it was created like Bitocoin and no other coin isn't so accepted and implemented in real life, people still trust it the most compared to other coins. I think that is the secret of success.

Maslate

hero member

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That's the real deal with bitcoin, and therefore it's nice that the founder will remain anonymous.

Even some people will claim that they are the real satoshi but majority of us here does not believe, and even if there are bitcoin forks that will be created, majority of us here will still support bitcoin and that's the reason why it's still in the number 1 spot now, and it's also holding a huge dominant rate over the rest of the coins int he market.

SirLancelot

hero member

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Quote from: avikz on May 28, 2019, 10:05:13 AM

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?

We often look for the answer of these questions. The twitter handle of CryptoKanoon answered it and I can't resist myself from sharing it with the fellow community members.

The tweet says,

Quote

No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings.

I don't think of anything better can be answered against those above mentioned questions! Want to beat it??

Original content link: https://twitter.com/cryptokanoon/status/1132223935058042880

Basically bitcoins were the first ever cryptocurrency launched to start the decentralized markets. The formation of bitcoins was a wise but cheap which did not cost much for promotion, etc. Bitcoins grew up old on their own and I do not really think that even satoshi was the one who made bitcoins more famous. Bitcoins are possessing various benefits and advantages of being with them which made a lot of peoples invest into bitcoins and that made bitcoins grow from $0.16 to $8500+ and much more to reach. Bitcoins were been created completely anonymously which did not left any tracks behind about the developers and just what was left behind was the source code and the programs which then emerged a lot of similar coins which are yet not comparable to bitcoins.

Noilee

full member

Activity: 532

Merit: 101

Quote from: bravehearth0319 on May 28, 2019, 10:35:02 AM

Quote from: avikz on May 28, 2019, 10:05:13 AM

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?

We often look for the answer of these questions. The twitter handle of CryptoKanoon answered it and I can't resist myself from sharing it with the fellow community members.

The tweet says,

Quote

No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings.

I don't think of anything better can be answered against those above mentioned questions! Want to beat it??

Original content link: https://twitter.com/cryptokanoon/status/1132223935058042880

According to my understanding about it, Bitcoin is purely decentralized based system where its features was too unique, and it is most trusted by the community in the entire world, that's why lot of investors in the entire world embraced and supported it so much. Imagine its price was kicked up very much without using any advertisement.

Thats why there are more and more people are interested and invested in bitcoin. The characteristics of bitcoin makes people attract and even if there are some others coins bitcoin is always preferred. Except for that its good for an investment and extra income.

ricardobs

hero member

Activity: 1204

Merit: 505

Quote from: bhabygrim on May 29, 2019, 11:35:00 AM

Yes it explains ,
Bitcoin become successful because people trust it so much and loved Satoshi's idea.
We have seen so many crypto follow it's step and fails because it couldn't really be copied and the explanations give it all why they couldn't copy it .

Not actually the other cryptos are been copied as per you say but they run on the same network. Blockchain network is the home network to each such cryptocurrency which is been launched considering bitcoins. Bitcoins are turning much more stronger. In the late 2009 to 2010 there were few users who had some idea about bitcoins and with the growing time, the number of peoples supporting bitcoins grew up and until now we can see a vast support to the blockchain technology. Peoples always supports those things which could be profitable for them so I think that the choice peoples made would never go waste.

kawetsriyanto

legendary

Activity: 2422

Merit: 1140

duelbits.com

Quote from: avikz on May 28, 2019, 10:05:13 AM

Why bitcoin is successful?

Quote

No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

I also think so.
Bitcoin is something simpler than others and there is no certain aim from a certain person to manage or control.
Bitcoin, with its simplicity but worth, can raise many cryptocurrencies.
During this time, many parties state that they can defeat or replace Bitcoin, but so far, none can do it.
Why? Because Bitcoin is something different, this is worthier than what we think, the trust is very important and BTC has this that much.

rdbase

legendary

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Its success can only be done with the people who support it and from the amount of people using it in their everyday lives shows this to be the determining factor of its longevity.
The other coins just looking at bch and bsv for example shows how not having authentic supporters can ruin a coins success in a very short amount of time.

blackhawkeye1912

sr. member

Activity: 784

Merit: 250

Bitcoin progresses due its designed encryption that until now no one has ever know. Who you gonna call to check if there will be developments and upgrades. The community makes it more secured as more and more users out there. But, the problems lie in the field where bitcoin is moving. The field is full of developers who have the common goal, to get rich.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: MicroGuy on May 28, 2019, 07:06:38 PM

But the 1 MB block issue will ultimately be the currency's undoing.

The "issue" you're referring helps miners earn millions on top of the block rewards, which no other coin does.

Just Bitcoin's fees per block are consistently much higher than BCash's + BSV's ENTIRE block rewards. If you seriously think that endlessly increasing the block size is the path to success, you don't know much about Bitcoin's economics. There is an infinite amount of demand for free to almost free block space, while Bitcoin's block space is almost an asset on its own due to its scarcity.

BSV is going to raise the blocksize to 1GB this year. Fantastic upgrade with no one but Craig and Calvin using it. Next upgrade is 1TB blocks. Cheesy

Sharon121212

full member

Activity: 280

Merit: 215

Facebook, apple are very successful company's with almost all the point mentioned in which made bitcoin successful.
Bitcoin is successful and would even cover more ground latter on basically because of the idea behind it and being a pioneer and also it gives it users privacy and makes easier what when using the orthodox transcation process seems to be hard and slow

oseikuf44

member

Activity: 490

Merit: 10

I agree with the tweets, Bitcoins has become inelastic goods and no matter what the outside influence is it can still survive and make success. Bitcoin if had management or advertising program will have been facing issues like modern day corporate giants around the world.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: squatter on May 28, 2019, 11:09:23 PM

By the way, it's a 4MB block weight limit now. It's rare to see blocks < 1MB anymore.

Block weight being 4MB doesn't change the fact that the base block size is still 1MB. You can't strip enough data from a transaction to have the block weight increase significantly. Bech32 is pretty much the max of the max right now.

I read somewhere a while ago that Blockstream has a new transaction format that takes up less space than the current formats, but I'm not sure what of that is true, and how realistic it is to have it be implemented in Bitcoin.

We're still waiting for Schnorr to be implemented, and this already may take a year or two from where we are right now.

adzino

copper member

Activity: 2968

Merit: 575

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Quote from: avikz on May 28, 2019, 10:05:13 AM

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?
-snip-

Yeah, I do agree to the reasons given by the user on twitter. In other words, it is saying that it is completely decentralized for which it has much higher value than any other crypto currencies.
But, saying that "no other crypto currencies are able to even come closer to it" is a bit exaggerating. There are coins out there that has very good potential. Bitcoin just has its own advantage since it is the first every crypto currency.

kryptqnick

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Quote from: avikz on May 28, 2019, 10:05:13 AM

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?

We often look for the answer of these questions. The twitter handle of CryptoKanoon answered it and I can't resist myself from sharing it with the fellow community members.

The tweet says,

Quote

No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings.

I don't think of anything better can be answered against those above mentioned questions! Want to beat it??

Original content link: https://twitter.com/cryptokanoon/status/1132223935058042880

Okay, Bitcoin is indeed helping with some difficulties, and the answer sounds nice. But while I can agree this is what's made Bitcoin successful, it is definitely not the sufficient reason behind the success of this crypto. I think so because I am sure there are many other projects that had the same purpose and yet failed, because of lacking something else. Bitcoin could be another weird nerdy thing if it wasn't for the growing community of its supporters, one of the prominent causes of the formation of which is, of course, this forum. I'd also formulate the following answer to address the reason of Bitcoin's success: Because for the first time people had secure and effective international money that had nothing to do with banks or governments.

Nolimitz84

sr. member

Activity: 980

Merit: 252

Bitcoin's sole purpose is to help people overcome their suffering.Very strong and at the same time the exact phrase that characterizes the success of bitcoin.Perhaps many still just do not fully understand what bitcoin is.Satoshi's idea is really successful!

Reid

hero member

Activity: 3052

Merit: 651

To sum it up.

NO DRAMA

All it does is exist or be discovered by someone which is Satoshi.
Afterwards, there is nothing else to do. It did crawl its way to this large amount of value but yet here we are. With just a number of years no one really expected this could really happen.
It looked like something that is against the government but why the hell the support is soaring? Are we really that rebellious? Grin

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