Topic: Why is Bitcoin membership growing very fast - page 3. (Read 598 times)

Bitcoin has the largest market cap in the crypto market because it has the potential to store values and so much, not highily volatile like the AltCoins that're highily volatile very vulnerables to dump due to it limited utility potentials.
Very quickly, bitcoin has been a hot coin for enthusiasts in the crypto space in that it has a limited supply of 21 million invented bitcoins which is very intensive and attracted by users to buy because investors are holding and accumulating so much of it otherwise investing for long term which also big whales are diving into the bitcoin market including small investors are wailing to buy before it runs out of stock.
So it's like demands are more than the supplies due to the limited supply of bitcoin.

We usually use the term crypto user/investor and not a member though. Anyway, whatever the OP wants to convey, it is just about adoption in this market. And as this market is going mainstream, definitely, it will attract more users or investors as they are seeing how the price is increasing. This market is still very volatile, hence, people are very interested owed to the notion that they can get large profits in a very short period of time. However, it depends on how they will strategize in buying and selling of their satoshis.

Concerning benefit attached to bitcoin investment still requires knowledge, loss is totally unpredictable meaning an investor might encounter loss while investing but what’s more important about bitcoin is your profit making will be determined by you alone (optional) bitcoin investment is a long term investment that requires a good plan so anyone who decides to go for short profit will see the end result probably loss. Meanwhile altcoins at the other hand is totally not safe, these coins are created by  group of people either a community yet what’s their aim exactly? No need for deep explanation most people ended up investing everything in a dump coin except they’re smart enough to identify a coin potential or else it’s risky, I believe we’ve talked more on bitcoin vs altcoin well it’s common.

OP from what you said here, i can directly tell you that you are a bit confused because while trying to let your friend know that bitcoin started just like some altcoins are now before bitcoin got to where it is today, you are also indirectly telling your friend to invest in those altcoins since they are affordable and may also perform as bitcoin is performing now in the future but even if that is not what you really meant, you actually sounded like someone who is driving at such direction.

Bitcoin adoption will continue to grow because everyone wants to have an asset that is valuable and has the monopoly to outsmart other coins in the market and stand on it's own without being affected by the activity of other cryptocurrency. Bitcoin adoption being on the increase doesn't actually implies that everyone must own a whole bitcoin. Starting from any fraction of it you can be able to buy and hodl is a very good step to increasing your hodlings with time and before you realizes, you must have acquired more than 1 btc in your holding.

I don't think 'membership' is the correct word for the tittle, adoption/buyer/user/investor, would be better choice. And the reason why Bitcoin price and marketcap keep rising, while most altcoin is stuck and then died, is because the trust and adoption itself, because there are already many people using and invest on Bitcoin so it creates trust for everyone who wants to begin to buy Bitcoin. While some altcoins who are just started has no user so the trust is low, on the other hand we can see popular altcoin like ETH and BNB that already have their own users are able to maintain its price and marketcap.

I don't want to say that I am a member because indeed I am not a member but when it comes to bitcoin I would be very confident that I am one of the people who own bitcoin or the current owner of bitcoin.
The reason why I am in bitcoin is ultimately about confidence and seeing the potential of what has happened since a few years from when they existed until now so by seeing good progress like this then it is clear that being in bitcoin is a very worthy thing to do.

Why not with altcoins? actually this is the choice of each and I think everyone must have their own thoughts on this matter but for me personally as long as I can be in bitcoin and still think bitcoin is the king then why do I try in altcoins which are indeed in terms of conditions and management the risk is clearly much greater.

Op please edit your topic or subject whatever name you understand. If you are concerned on the content then your subject is out of point and if your interested in the subject then your content is out of point. Go and restructure your topic again because it is not tally with the body of the thread. Bitcoin price is not expensive for people to buy. You can buy as low N1,000 BTC which is equivalent to $0.6 and you can see it from the image below.


So you can't say Bitcoin is so expensive to buy. You don't have to buy 1 BTC before you that you are investing in bitcoin but you can invest with little amount every day, week and monthly through the DCA method.

Back in the past on which it isnt really that getting that much attention or recognition but still there are still those people who are really that believing into this technology and thats why the had risked out on investing into those moments or time that it was still that still cheap. So how it do end up? They are the ones who do make money with this current market condition specially on breaking up new all time highs.
No one had anticipated that this would really be that become too big on which it did really comes into a point that government and institutions are really that making up some recognition and now that it is really that starting these funds are flowing into this crypto market which does simply means that it is really that making some noise now and even government and billionaires are really that been starting out to dive in.

Adoption and recognition is on the move and one of the most notable event is that when the time that El Salvador did make Bitcoin as legal tender on which it did really shook up other countries on such decision.
They did even accumulate even more on the time that Bitcoins price dip on $15-20k as far as i remember and that one really paid off if we do base up on the current price condition that we are into.
This is why if you are an investor then riding up with the waves will really be the best thing to do.

Bitcoin will keep growing fast as long as there are lots of huge companies accepting it as an asset that is worth investing in. When it all started, the model was meant to be for payment especially. With time it becomes more like a store of value for safeguarding our fiat against inflation. But currently, it is one of the best assets to invest in for the long term. In the meantime, it generally serves all the purposes it was built for and another purpose we the adopters assigned to it.

It seems am not the only one who has been trying to figure this out. The value of an asset varies based on each local currency. An asset might be valuable to people who use Japanese Yen but comparing that asset to the US dollars it may not be valuable. Generalizing the asset to be valuable globally might look more like exaggerating.

Most altcoins have a lot of problems when compared to Bitcoin:

1) they are not really decentralized, they are managed by a single company -- this basically means they don't really need a blockchain and make no sense
2) if they are PoW currencies, they are far less secure than Bitcoin,
3) if they are PoS currencies, their security depends on a certain degree of centralization,
4) many have only speculative usage (with a few exceptions like ETH, XMR, SOL, LTC ...)
5) from those promising some sort of "new paradigm", most of those "paradigms" are small improvements which could often be adopted by other altcoins too,

In addition,

- altcoins have historically underperformed Bitcoin in all timeframes longer than 5 years,
- there were lots of scams in the altcoin sector, scaring possible users away (and often the users are correct ..)
- Bitcoin got ETFs, only two other altcoins have ETFs (ETH and SOL, SOL only in Brazil)

This is why Bitcoin's "membership" and also its market cap in comparison to altcoins -- popularly called "Bitcoin Dominance" -- is growing, see here.

Just a little addition: While "membership" may look strange and seem not totally accurate, I don't think it's totally wrong, because users of a cryptocurrency do form part of some kind of "decentralized organization" (DAO) or group.

One thing I want to ask is how you guys calculate and value a profit or an asset. Do your friends just consider all cryptocurrency to be sharing the same value? Let's take the limited supply of bitcoin aside from the demand for bitcoin; some are already arguing that bitcoin is currently underpriced rather than seeing it as something that is high in price. 
 
This might not make much sense to you, but you can use different countries currencies as an example. They all are official currencies for each country, but why is one currency much more valued than the other? 

Most of the altcoins now have been pumped already. And whenever someone says that Bitcoin was already very expensive, it will always be with that kind of description even in bear markets. You're right, people keeps on having a double mind to invest because they're doubting it even when the prices are considered low.

Change your title, Bitcoin has no membership. It's a decentralized cryptocurrency and a store of value for which we are all holding it as an asset. Maybe Bitcoin's "popularity" is rapidly growing.

Not everyone is buying one Bitcoin and above, some are buying in bits which makes it affordable. Most people prefer Bitcoin because it could be held as an asset for a long time. This is because it has proved over the years to be reliable. It is also very simple to invest in Bitcoin compared to altcoins. There are many altcoins and most of them have proved to be scams, so people are careful not to invest in them . In terms of profitability, Bitcoin has also proved to give investors good returns if held for a long time. Also among all the cryptos Bitcoin is the most stable/volatile making it the best choice. Also the influx of institutional investors and the government into the Bitcoin space has also made Bitcoin more popular and reliable than others.

Bitcoin's price is expensive because it has a limited supply of 21 million Bitcoins, from which 19.8 million coins are mined and 3.8 million coins are lost. Bitcoin is probably the only decentralized coin because it's the most adopted coin, mined all around the world and it's creator is unknown for the world, he remained anonymous and disappeared, which strengthened the decentralized legacy of Bitcoin.

So, there is a limited supply and there is a demand, many institutions are adopting Bitcoin and there are still many more that will adapt Bitcoin because it's the future, it's simply inevitable. Bitcoin ETF approvals prove again that Bitcoin will further be adopted. So, that's why people invest in it.

The probability of making profits from bitcoin in the long term is higher than the overall profits in altcoins, and even to traders, the probability of incurring losses is higher in altcoins compared to that of bitcoin, so for sure, investors have more hope in bitcoin much more than than they have on altcoins.

So it's a clear caught acatchnt of action when it comes to choosing where to invest between bitcoin and altcoins.

Bitcoin is all that matters in the long time. All other cryptocurrencies are generally referred to as altcoins because none of them can be able to stand the position Bitcoin is today and their existence has a a stronghold of what bitcoin is today. Bitcoin was the first cryptocurrency and till date its decentralized nature has made it a more dependable coin to invest in rather than depending on some altcoins that the future of them may not be certain and has a very high probability of not staying long in the market. Telling them that is how bitcoin started has been the case of many altcoins and several years down the line, they’re either no more in the market or have lost their value and cannot grow higher than what they are today. The adoption and use case of bitcoin will make it a more dependable option to go for in the midst of many coins that their value can no longer be dependent on.

and just to expand on what serjent05 posted...

demand is rising from all corners of society,

the wealthy are slowly realising that Bitcoin offers the best store of wealth into the
future, better than property, Gold, "rare desireable" ^{taking that from M.Saylor} Art.

Compared to all those Bitcoin offers superior wealth transfer without taxation
for example. Its easy to buy a piece of Bitcoin - $25 worth for example.

Others are realising that they dont actually have to own 1 Bitcoin and so owning
Satoshi's instead is far more achievable for many people.

When the Bitcoin market moves up more people want to be part of it. Hopefully the
message about looking into the future has reached more people.

One of the reasons people invest in Bitcoin rather than shitty altcoins despite its high market capitalization is because it's more safer to invest than altcoins. Some altcoins after launching may drop in price and not recover back or the dev may rug the community, leaving investors in losses. Bitcoin on the other hand has been around for a some time, it's community owned, has a proven track record and no matter how deep it falls in price, it will bounce back.

Bitcoin is the only crypto that matters in the long run. Alts are fine for quick hit and run type of actions and some of them might do well in a 5 year year period but eventually they all lose their mojo but bitcoin keeps going higher and higher. It is only natural that some people think alts are cheaper therefore buying them makes more sense because the upside potential is higher. Obviously they can't see the bigger picture clearly. Price means nothing in the end. User adoption, merchant adoption, trading volume, brand recognition, network size... These are way more important.

Well there are quite lots of reason why people are investing in Bitcoin rather than Altcoins
And if it's for quick profit many would flock to altcoins.
Bitcoin was created because the current traditional system is failing
And history can back the success of Bitcoin.
Most popular is that is a means of accumulating wealth to to mention it been an hedge over inflation.


In summary It's trust, Bitcoin has given adopters reasons to trust it over others.

Bitcoin adoption growing fast in relative to altcoins would be better
You don't subscribe to Bitcoin, You own Bitcoin.