Why Bitcoin still remains the leading cryptocurrency in the world.

Rufsilf

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You will perhaps be thinking as well in a different view.

- It is decentralized - nobody is controlling it
- the most valuable coin among cryptocurrencies that gains interest from the investors
- legally adopted by some countries

Plus, we can't deny that Bitcoin is specially created for a special role, unlike these altcoins.
https://netherlandsnewslive.com/understanding-the-roles-of-bitcoin-and-blockchain-in-crypto/

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Unlike the traditional currency where you use credit or debit cards that are controlled or tracked by a third-party such as government authority, transactions in Bitcoin do not involve a middle man. Every completed transaction is recorded in a Blockchain.

cheezcarls

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It’s the granddaddy of all the cryptos! The first born crypto and then “variants” a.k.a. altcoins such as Ethereum, XRP, DOGE, etc., developed and keep growing further, then expanded into NFTs, DeFi, metaverse, etc.

No one can control Bitcoin anymore even the founder himself. It is being developed and deployed one time and nobody can control it anymore. Not banks, government, etc. Bans don’t work either.

Masplanc

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Bitcoin remains the leading cryptocurrency because bitcoin is the first decentralised cryptocurrency with a superior blockchain. Bitcoin is not an imitation of any currency or cryptocurrency. It will always lead other crytocurrency because other cryptocurrencies are trying to imitate what bitcoin has .

kawetsriyanto

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Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

..control it and is a supernatural creature and it like is an idea or vision of the creators to control the planet after God.

I am really thinking about what you said and I cannot get this Grin

Btw, simply, besides things that have been explained by @_act_ above, there is something simply like:
- What will everybody say and know about cryptocurrency at first? the answer is Bitcoin.
- Some people may not know what is cryptocurrency, but they will say oh, yes, when they heard about Bitcon. This is related to the popularity
- Why there are always FUD spread by most people around the world about crypto? Why should be Bitcoin? because Bitcoin is number 1.
- and more importantly, we have been seeing how the process and progress of Bitcoin so far, its up and down, its followed by altcoins, the value, the market cap, and anything about Bitcoin.

Ziskinberg

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Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

It is known over years and now that Bitcoin is a mysterious and some kind of digital currency that is not well known how come about and only the creators of it knows and control it and is a supernatural creature and it like is an idea or vision of the creators to control the planet after God.

You can never find it mysterious if you know the history of Bitcoin. And please don't include any religious belief here as they are not a part of this as Bitcoin was created by someone who only has the gift of such creativity and vision. We can sometimes think about how this happened? But as we understand the situation, digitalization comes without realizing it will hit the market the same thing that we never expect from Bitcoin.

The idea is so brilliant, so why not take this and enjoy it without the control of other people like the government? This why it gains more attraction and interest from those who want freedom.

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Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

It is known over years and now that Bitcoin is a mysterious and some kind of digital currency that is not well known how come about and only the creators of it knows and control it and is a supernatural creature and it like is an idea or vision of the creators to control the planet after God.

Although Satoshi founded bitcoin, but he never expected that bitcoin will become mainstream and will be as controversial as by now, since he is only after for freedom from banks that something people should realize through bitcoin. Probably, the best reason why bitcoin stays as the leading crypto in the world because it’s fully decentralized, and something that the government fail to control. Aside from that, bitcoin has the most expensive value, the reason why mostly people want to own and invest in it since the expected profits will certainly be doubled or tripled.

chexychukra

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Do you really think that nobody controls bitcoin?

jackg

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Quote from: CryptopreneurBrainboss on July 23, 2022, 06:32:00 PM

Quote from: jackg on July 19, 2022, 09:51:26 AM

There's a chance an altcoin might overtake bitcoin (again) but there's no reason things implemented on other chains can't be added to bitcoins.

I doubt this will even happen, altcoin are heavily centralized especially as they have physical representative while Bitcoin is more of a community project. If there was to be any token or coin that'll overtake Bitcoin in market capitalization then, it'll be a stablecoin because of the day today used. And for that to be possible, it has to be a decentralized stable that has no physical face of the projects.

Stablecoins can't be run off bitcoins chain now though, they can be run off ethereum and similar chains to it though.

If a stable gets a higher market cap than bitcoin, whatever network it's being run off/mostly stored on will probably be as valuable or more than the stablecoin.

Ethereum is probably similar to bitcoin in terms of most things up to now except fees (which have been really high and those are still being paid by its users).

Pmalek

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Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

It is known over years and now that Bitcoin is a mysterious and some kind of digital currency

There is nothing mysterious about Bitcoin. Everything is public and verifiable. Check it out yourself or read the opinions of those who have done so and have managed to gain great knowledge about how it works.

Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

that is not well known

It's very well known. It's the most popular cryptocurrency in the world.

Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

how come about and only the creators of it knows and control it

Are you one of those creators of Bitcoin who only knows about it? Think about how absurd that statement is. Bitcoin doesn't have centralized control. No government or institution has authority over it. They can pass laws to limit or ban it, but they can't stop the decentralized and censorship-resistant flow of data and value.

Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

and is a supernatural creature and it like is an idea or vision of the creators to control the planet after God.

Sorry, but this is just stupid.

Daniel91

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Quote from: lovesmayfamilis on July 20, 2022, 11:54:29 AM

If we talk about what the OP writes, then for an ignorant person, of course, Bitcoin will be presented as a mysterious coin.
However, to stop being afraid and begin to understand Bitcoin, you need to start using it. The creation of bitcoin did not have any bad intentions; on the contrary, it was invented for convenience, as well as for personal ownership of one's finances without interference from other parties. Just take the time to take the blinders off your eyes and start experiencing bitcoin.

I agree with you, but unfortunately a lot of people believe the media and skeptics with negative views about crypto.
Most of my friends, to whom I tried to introduce bitcoin, reacted very negatively and skeptically, based on what they heard from someone else or read somewhere.
Their thinking is that bitcoin is something very risky, or something mostly used by criminals for illegal activities.
That's why I understand the OP and his question.
In my country, the application of bitcoin is slowly expanding in everyday life, from the possibility of buying and selling at post offices to the possibility of using it to buy daily necessities.
In this way, I believe that over time more and more people will understand the value of bitcoin and other cryptocurrencies and that such questions and doubts will be less and less.

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Quote from: pooya87 on July 23, 2022, 11:43:18 PM

Quote from: Falconer on July 23, 2022, 01:21:25 PM

I think it is necessary in this industry because bitcoin will never be king without altcoin under it. What I mean is that bitcoin has been the patron of most altcoin and its concept as a currency has been adopted and developed by altcoin developers. Like a holding company, bitcoin is a company that protects all other subsidiary company and that is altcoin.

I disagree with both points.
Bitcoin is "king" because it is useful not because altcoins exist. In other words if every single altcoin ceased to exist today, bitcoin will still continue to grow.
Secondly, altcoins didn't adopt the "currency" aspect of bitcoin. Instead they adopted the asset aspect of bitcoin in the worst way possible which is to become pump and dump schemes. If they had thought about being a currency we wouldn't have had this much problem with their uselessness.

which in essence Bitcoin stands alone without needing anyone even though altcoins are destroyed. At the beginning of bitcoin was created there were no other altcoins supported by bitcoin. Altcoins depend on bitcoin, but bitcoin does not depend on anything. Altcoins adopt bitcoin assets and even they imitate bitcoin technology claiming that they (altcoins) can be better than bitcoin.
Bitcoin became the first, became the originator of all altcoins and has many communities spread all over the world, trust in bitcoin is higher because it is already known by many people.

pooya87

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Quote from: Falconer on July 23, 2022, 01:21:25 PM

I think it is necessary in this industry because bitcoin will never be king without altcoin under it. What I mean is that bitcoin has been the patron of most altcoin and its concept as a currency has been adopted and developed by altcoin developers. Like a holding company, bitcoin is a company that protects all other subsidiary company and that is altcoin.

I disagree with both points.
Bitcoin is "king" because it is useful not because altcoins exist. In other words if every single altcoin ceased to exist today, bitcoin will still continue to grow.
Secondly, altcoins didn't adopt the "currency" aspect of bitcoin. Instead they adopted the asset aspect of bitcoin in the worst way possible which is to become pump and dump schemes. If they had thought about being a currency we wouldn't have had this much problem with their uselessness.

Franctoshi

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Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

It is known over years and now that Bitcoin is a mysterious and some kind of digital currency that is not well known how come about and only the creators of it knows and control it and is a supernatural creature and it like is an idea or vision of the creators to control the planet after God.

To clarify issues no one owns Bitcoin right now but it has a creator rather it is mined and that is the first way through which you can own Bitcoin and From their it gets to other people's hand, Too the creator of Bitcoin do not control Bitcoin rather Bitcoin is controlled by the supply and demand forces.
Bitcoin still remains the leading cryptocurrency in the world Because of it transparency and there's no other cryptocurrencies that exists currently that have matched the capability of what Bitcoin can do both in terms of problem solving, store of value, Most secure asset , scarcity , decentralized and so on.

CryptopreneurBrainboss

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Quote from: jackg on July 19, 2022, 09:51:26 AM

There's a chance an altcoin might overtake bitcoin (again) but there's no reason things implemented on other chains can't be added to bitcoins.

I doubt this will even happen, altcoin are heavily centralized especially as they have physical representative while Bitcoin is more of a community project. If there was to be any token or coin that'll overtake Bitcoin in market capitalization then, it'll be a stablecoin because of the day today used. And for that to be possible, it has to be a decentralized stable that has no physical face of the projects.

There's a reason Bitcoin still remains the go to cryptocurrency for investing irrespective of it not having all the most trending techs that's attracting the new investors into the industry. Bitcoin has the trust of the community and that's something altcoins won't have anything soon.

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Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

It is known over years and now that Bitcoin is a mysterious and some kind of digital currency that is not well known how come about and only the creators of it knows and control it and is a supernatural creature and it like is an idea or vision of the creators to control the planet after God.

Well, Satoshi don’t even have the control over bitcoin because it’s fully decentralized, and this coin is not mysterious but will always be unpredictable. And throughout its struggles over a decade, bitcoin is still dominating the crypto market because it has exceptional potentials that I think the rest of the other coins don’t have. And when we say bitcoin, it comes with a highly expensive price, but also expect for its highly valuable profits in the end.

Findingnemo

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Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

It is known over years and now that Bitcoin is a mysterious and some kind of digital currency that is not well known how come about and only the creators of it knows and control it and is a supernatural creature and it like is an idea or vision of the creators to control the planet after God.

Bitcoin was created by anonymous person(s) but its never been under control of anybody that is basically why the creator of bitcoin decided to implement it on the blockchain technology and completely decentralized so miners from all over the world can take part in it and confirm the transaction for that they will get rewards in Bitcoin as well. So there is nothing mysterious behind Bitcoin and further to get the knowledge of Bitcoin it is important for s person to understand what is blockchain and what is decentralization.

And as title says its why it remains at the top while thousands of others created with the same technology then the answer is sll those coins created to make money for the creators so it doesn't have enough trust level as Bitcoin is having.

Falconer

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Quote from: KingsDen on July 22, 2022, 04:17:51 PM

-snip-

I'm also a fan and that's why I'm here.

Quote from: pooya87 on July 22, 2022, 11:17:44 PM

Actually there were a couple of attempts before bitcoin to create such a payment network but they all failed to achieve anything until bitcoin came along and revolutionized the industry. The reason why bitcoin is still the first is because nothing else came along with a revolution, they just copied bitcoin and repeated the same thing over and over.

I think it is necessary in this industry because bitcoin will never be king without altcoin under it. What I mean is that bitcoin has been the patron of most altcoin and its concept as a currency has been adopted and developed by altcoin developers. Like a holding company, bitcoin is a company that protects all other subsidiary company and that is altcoin.

pooya87

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Quote from: qwertyup23 on July 22, 2022, 07:33:43 PM

One of the main reason on why BTC remains the leading cryptocurrency is due to the fact that it was the first crypto ever created on the market.

Actually there were a couple of attempts before bitcoin to create such a payment network but they all failed to achieve anything until bitcoin came along and revolutionized the industry. The reason why bitcoin is still the first is because nothing else came along with a revolution, they just copied bitcoin and repeated the same thing over and over.

qwertyup23

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Quote from: Kalson9 on July 19, 2022, 05:30:17 AM

It is known over years and now that Bitcoin is a mysterious and some kind of digital currency that is not well known how come about and only the creators of it knows and control it and is a supernatural creature and it like is an idea or vision of the creators to control the planet after God.

Let me get one fact straight- no one controls BTC; even Satoshi himself does not control BTC since this was created for the purpose of a decentralized currenc. Though there may be cases where price manipulation happens, this only occurs when extreme whales liquidate their vast amount of BTCs in the market, which is highly unlikely.

One of the main reason on why BTC remains the leading cryptocurrency is due to the fact that it was the first crypto ever created on the market. It already established its name and there are even countries where they use BTC as their legal tender, which contributes to its legitimacy and genuineness, unlike other altcoins which have no basis at all.

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Quote from: Falconer on July 21, 2022, 02:42:59 PM

Quote from: KingsDen on July 21, 2022, 12:17:55 PM

About the title, bitcoin will remain the king for so many years, but there is no guarantee that it will remain the king for more years after so many years. The technology is still evolving, anything could happen.

This technological civilization will not stop and will continue to grow so there is no guarantee that bitcoin will be at the forefront forever. Bitcoin still has its deficiency despite its many advantages so there is a possibility that it will be replaced by new, more perfect technologies. Over the last decade, bitcoin has been the king of cryptocurrencies and it's not just about price. But it's true that we don't know exactly what the future holds.

I am an advocate of it and I am sure of metamorphosis I'm technology. What bitcoin was the very first week it was released by Satoshi is not what it is today. There are transformations and there will continue to be transformation in the process. No technology is perfect, hence there is room for innovations. But any technology that is so static and doesn't accept change would go into extinction. I know that cannot be the case of bitcoin, bitcoin it only needs consensus for anything to be altered in bitcoin.

Topic: Why Bitcoin still remains the leading cryptocurrency in the world. (Read 416 times)