Why is bitcoin the most popular cryptocurrency? - page 101.

Mandoy

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Quote from: KS03 on July 06, 2017, 11:23:13 PM

I agree with most here. Bitcoin is the biggest coin because it was the first. First always has a huge advantage.

Bitcoin is not popular because it is the first. But it became famous because it has the right flavor that has attracted supporters from all over the world. One feature of bitcoin is its decentralized system wherein there is no centers. And later on when the price keeps rising up more people comes in to invest to make more profits. But before other reasons came about it was the decentralized feature of bitcoin that became the primary reasons why it is being advocated by people. But as bitcoin become popular people were not coming in because of decentralization anymore but on more money matters and stuff. But it doesnt matter what makes bitcoin popular but the most important thing is that it rises in value and we can have more profit.

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i guess because it has higher value & trusted transactions for everyone. BTC makes everyone profits by investing & many more uses that's why many people hooked & gave their trust to btc.

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It was the first technology that solved many of the problems associated with creating your own digital cash. Other Alt coins are just copy cat coins from Bitcoin's unique concept. You will see this with all new technologies. Uber will launch and it will be the first company using this concept and being first to market they will gather the biggest share of the market. Then people will find ways to copy cat the concept and they will take away some of Uber's market.

In Crypto Currencies this is easy, because it is Open Source and there are no patents or intellectual copy rights on the concept. ^hmmmmmm^

digaran

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Right on the spot OP dogecoin is not at all like a scam coin lol. Bitcoin is not the most popular crypto currency, at least not lately, ETH has the spot light for a few months now and I think that's the reason why Bitcoin is not rising any more like before. because traders and investors are in other coins for a few months like they have forgot about Bitcoin. every body knew from the start that BTC couldn't stay the top 1 forever they just wanted to test it to see how fast other coins could replace it, but it's not too late for it to recover.

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Quote from: Crapz23 on July 06, 2017, 12:59:27 PM

I believe that they're popular mainly because well it was the first of all cryptocurrencies to be made. Honestly most of the other coins are scams and greedy ways that the developers make money. The only other coin I can think of that isn't a scam are dogecoins! What do you think?

I think all crypto currencies are the only way to unite people according to a common idea. Bitcoin is the first currency to be encrypted and decentralized. If we do not see the continuous development of the currency and it will soon be stopped.

highlandknight

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Bitcoin is developed under securely reasons so that now, bitcoin is the very popular concurrency. Strict code developed by team compared to other existing coins in the market.

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It was the first and it's been developed the longest with probably the best team in crypto working on it and improving it. When you bring up crypto up to any conversation you always mention Bitcoin.

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Quote from: Crapz23 on July 06, 2017, 12:59:27 PM

I believe that they're popular mainly because well it was the first of all cryptocurrencies to be made. Honestly most of the other coins are scams and greedy ways that the developers make money. The only other coin I can think of that isn't a scam are dogecoins! What do you think?

Bitcoin is the most trusted cryptocurrency. It is the first. It has the most community support and a proven track record of being a good investment, all leading to investors being most interested in bitcoin than any other coin.

however recently this trend has been broken with bitcoin dominance index coming down really quickly at times and it's currently floating around 40%, which is unnaturally low. In my opinion, bitcoin's status is unmatched in the cryptocurrency scene. Bitcoin did not raise any funding, and the majority of altcoins did.

There are a lot more local traders for bitcoin compared to altcoins as well. There is literally nobody trading Ethereum for cash, but a whole lot of people trading bitcoin for cash for a living.

franco123

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In my opinion, Bitcoin has been the most popular cryptocurrency because of 3 things.

First, it is the 1st cryptocurrency ever created. Anyone who is first in a specific line of business would always have an edge. Just like in the case if Bitcoin, it was able to be the first in the world of digital currency therefore making it more popular, as of now, to the other cryptocurrency.

Second, aside from being the first cryptocurrency, it was able to attract people because of its ability to be used as a source of income. Who doesn't to have a source of income, right?

Third and lastly, it was advertised by the Bitcoin users themselves. Bitcoin, with its edge because of the first 2 reasons, became more popular as the users shared and invited their friends or family to try using Bitcoin.

skyline247

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Quote from: NorrisK on July 06, 2017, 02:46:00 PM

The first mover advantage can be very strong, especially early in the life cycle of a new technology.

The thing is though, that in more than half of innovations it is not the first mover that comes out ahead.

The reason Bitcoin is where it is at (top of the "crypto chain" or "blockchain", so to speak Wink

) is simply due to the fact that it was the first mover in cryptocurrencies. It is the one everyone started talking about. It is the one that pioneered the way for all of the coins we see today. This is why all other crypto prices always tend to follow Bitcoin. It is the leader. For now anyways. However, as you say - just look at Facebook. Facebook is the LAST mover in its space. It is the LAST social media site that came around, and it conquered the rest. It beat out Myspace, Friendster, etc. because it copied them and IMPROVED THE MODEL. We see all of these coins today improving on Bitcoin's technology. It would not be surprising to see another coin eventually surpass Bitcoin due to the reasons mentioned above, but I still don't think it will ever disappear like Myspace or Friendster did, but rather it will just become #2 or #3, and stick around.

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Yes bitcoin is most popular cryptocurrency. Bitcoin has won strategy other coin coming but they cannot prove their acceptness and quality. Bitcoin use very high quality technology. Bitcoin use actually use real life.

KS03

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I agree with most here. Bitcoin is the biggest coin because it was the first. First always has a huge advantage.

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Quote from: Crapz23 on July 06, 2017, 12:59:27 PM

I believe that they're popular mainly because well it was the first of all cryptocurrencies to be made. Honestly most of the other coins are scams and greedy ways that the developers make money. The only other coin I can think of that isn't a scam are dogecoins! What do you think?

Yeah , this is the real factor that why other coins are not getting famouse or making small stability and trust between the traders .
The only reason behind this is greed to make money with Thier coin .
Here we can see that the Bitcoin in the starting was like useless but with the better support and trust of the Bitcoin team , they made the Bitcoin much controlled thing in this world of virtual money , they don't want down the market of the Bitcoin and making everything with clearly .
Here you can see many coins ( mostly in yobit ) are increasing 1000% and next day get down 50% , this is what , actually we want make money by holding them because of increasing demand but the owner of the coins get greedy and to make money he will.sell his all the coins that he only mined .
Well here I have trust with btc , ETh , ripple , monero , dgb , sc , dash , doge , ltc , creva , rdd , blry , Putin , dbic only .

DOGE12321

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Well. There is a number of reasons for that. First of all like you said, Bitcoin is the first ever cryptocurrency to be created. It is the longest running and most trusted. Naturally people would flock to it for this reason.

Moreover, Bitcoin is the most successful too. Its marketcap is the highest of all the cryptocurrencies. It continues to dominate the market and most new comers to the "crypto world" would commit themselves to the best cryptocurrency.

Moreover, Bitcoin is not like other altcoins in the fact that Bitcoin can actually be used in real life. It is a currency and an asset. Other altcoins are only good for trading and investing. They have no real use in life.

These are a few of the reasons why is bitcoin the most popular cryptocurrency.

Hotel_Prodeo

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I think because of the bitcoin is an idea first, all the things that first then it will be the size and source of reference for promotion, so that if there is new then the coin will continue to mention the bitcoin.

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Quote from: n0ne on July 06, 2017, 08:39:31 PM

One of the major reason for its popularity is the technology behind it. This has never been implemented in anything else before. It's just an experiment that gave success. But took little time to show it's potential, and now the technology is used in various sectors. Importantly bitcoin has got gained trust from users through the crossing of lots of hurdles it faced during the past years. If it was some other coin, it could have got vanished.

No doubt that Bitcoin has a awesome technology used compare to other alt coin, also good reputation the price are continue to rise and so many merchant are accepting Bitcoin as a payment that's why it still the one of the most stable client and the block chain.
Take note: Bitcoin was the first cryptocurrency

n0ne

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One of the major reason for its popularity is the technology behind it. This has never been implemented in anything else before. It's just an experiment that gave success. But took little time to show it's potential, and now the technology is used in various sectors. Importantly bitcoin has got gained trust from users through the crossing of lots of hurdles it faced during the past years. If it was some other coin, it could have got vanished.

frowsiter

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Indeed it first but don't forget it is also hone of its kind when it was created. The blockchain technology and its complexity where out of thinking when it was created few years ago. No one thought about the decentralised transaction this way and this was the unique idea behind it. The end result was? Bitcoin became popular and topic of curiosity amongst the new and old generation. The word of mouth made it easier to evade through all the persons and countries with no barrier.

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Quote from: hardtime on July 06, 2017, 07:41:07 PM

I think Bitcoin is going to be the most popular one due to the fact that it got to the market first, I know some are going to turn and say that other markets haven't been so keen on the first people in the market (thinking of IBM, Yahoo, AOL, etc and so on) but in the crypto world people are going to be very skeptical to be going into new markets. Bitcoin in itself is in insane thing to join in on, so you can't expect people to want to go anywhere else than a coin which is already insanely volatile -- other coins are even worse. I just hope Bitcoin innovates so we're going to be able to last.

Yup, bitcoin have gotten the first mover advantage which makes it more popular. It is the first of its generation and has the most hashing power (infrastructure). Moreover, the number of retailers and businesses that accept Bitcoin transactions is risinge. This in turn will further increase the usage of Bitcoin amongst consumers, which will have a knock on effect when it comes to the value of this digital currency. Infact all the other Cryptocurrencies are getting popular because of bitcoin. Bitcoin is generally the first cryptocurrency for every new user.

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Quote from: Crapz23 on July 06, 2017, 12:59:27 PM

I believe that they're popular mainly because well it was the first of all cryptocurrencies to be made. Honestly most of the other coins are scams and greedy ways that the developers make money. The only other coin I can think of that isn't a scam are dogecoins! What do you think?

It's obvious. Bitcoin is the first cryptocurrency that have ever existed, and altcoins are essentially all based off bitcoin to some degree. Bitcoin has the biggest amount of community members and supporters, as well as merchants that are able to accept it.

If you think about it, ethereum which is a close second to bitcoin has probably no real life vendors.

A lot of altcoins also are purely for the benefit of their founders, in the form of ICOs. A lot of people disagree with this sort of business model and they'd rather have something trustworthy and proven by time like bitcoin.

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