Why is bitcoin the most popular cryptocurrency? - page 83.

pecson134

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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?

Actually we had the same idea. Bitcoins was given the privilege of being first a much higher popularity than what other coins or incoming coin does. I do think that we can considered bitcoins as an established currency and had already promising improvements on those times that passed by.

musharaf

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There are many reasons due to which people like bitcoin very much the first reason for popularity of bitcoin is it has a strong believe of the people that it will change their future and thus the demand for this currency high as a result the prices goes up and the pioneer of this currency are very profitable the people were very happy and they still invested in this currency and ultimately they are rich because of this.

frmracc

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It is because bitcoin is the first crypto currency and the oldest one. The price of bitcoin also very expensive if you compare it with other cryptocurrencies. I think this 2 reason are makes bitcoin become the most popular cryptocurrency.

EEEian

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Very common question Bitcoin is number one most popular currency every Bitcoin lover knows why popular this coin.But i know Bitcoin investor is increase day by day that is main reason i think.

cloud777

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There are severel reasons:

1) BTC is the first mover
2) BTC is the first blockchain technology implementation.
3) Take advantage from network externalities (https://en.wikipedia.org/wiki/Network_effect).
4) It's the fastest way to make money with speculation.
5) It's the most popular brand: other currencies are "alternative".
6) It's the most diffused for "physical" payments.
7) BTC mining is the most difficult and expensive.

konco_kenthel

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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?

Indeed the development of bitcoin every year can provide a fairly rapid increase with a relatively high price for life. In addition there are still some other coins that can surprise every time that dogecoin with the movement of the exchange rate very quickly and able to create a good opportunity for investors to achieve big profits.

ASHLIUSZ

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Quote from: Frank0209 on October 27, 2017, 03:32:22 AM

In my opinion the main reason make Bitcoin become the most popular cryptocurrency is its price is really high beside it's the first cryptocurrency can be use to trade or purchase anything in real life and the first thing bought by Bitcoin is a Pizza cost 10k Bitcoin

). But for now Bitcoin still can't be used worldwide cause it's only legalized in few countries all over the world.

Bitcoin is the base for the entire cryptocurrency evolution. Though it's a successful experiment of a technology, it continued to grow high and reach new heights. Later based on the growth it attained, as well along with the increased pricing it gained more popularity and the same is supporting to reach new heights in the cryptocurrency market.

captainhera

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Because bitcoin is of great value ~ $ 5,888 and it will increase in the future. When everyone cares about it instead of the other altcoin.

cyberChevan

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Not just because it was the first to be developed but because it have proven itself. Bitcoin is the most popular among cryptocurrencies because the opportunities and great profit is here. It has been through ups and downs but it is still thriving and thus, the powerful of all cryptos.

FoxTheHuman

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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?

Simply because it is a potential altcoin and a large number of buy-sell transactions. No one altcoin has more potential than it is at the present time.

HonestSurfer

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I would say the key reasons for bitcoin being #1 are:

- first mover advantage: first currency out there, has a huge brand name and therefore market share (capitalization) as well as recognition among potential merchants (if this goes really mainstream at some point)
- developer community: lots of smart people joined bitcoin core and other fractions, looking for new cutting-edge solutions
- mining community: I may be a bit on a tangent here but the way I see it, bitcoin has the most miners as well as nodes in the system, potentially making it more stable compared to a currency with only a few miners and nodes (distribution of mining/hashing power of course is a topic of itself)
- robustness: bitcoin has been updating the protocol and making it robust; it has stood the test of time in terms of hacking and system stability; most of the other currencies can only copy/learn from that so they will always be a step behind.

I am obviously not counting in reasons of price and volatility which in my opinion should only be reflecting the reasons above.

Let me know what do you think of these reasons!

Frank0209

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In my opinion the main reason make Bitcoin become the most popular cryptocurrency is its price is really high beside it's the first cryptocurrency can be use to trade or purchase anything in real life and the first thing bought by Bitcoin is a Pizza cost 10k Bitcoin

). But for now Bitcoin still can't be used worldwide cause it's only legalized in few countries all over the world.

Coin12

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1st of May

Bitcoin become the most popular crypto currency because its made at first than the other.
Then bitcoin also has stable price. I mean on this, bitcoin get lower and when they get higher price it will be more than lower range.

DoublerHunter

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Quote from: dipok07 on October 27, 2017, 01:30:56 AM

There may be many reasons for Bitcoin being popular, in the last years, bitcoin has been growing unlimited, rather than decreasing. In the beginning many countries of the world did not get this legitimacy. Now in many countries it is used for various purposes, including getting legitimacy.Besides, other coins are more popular than that

I agree with you that there is a lot of reasons why the bitcoin is getting popular because one of the reasons is the opportunity that bitcoin is giving to the people and because of that opportunity they can easily make money because bitcoin has a lot of ways to help the people to make money like trading, investing and so on and so forth.

dipok07

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There may be many reasons for Bitcoin being popular, in the last years, bitcoin has been growing unlimited, rather than decreasing. In the beginning many countries of the world did not get this legitimacy. Now in many countries it is used for various purposes, including getting legitimacy.Besides, other coins are more popular than that

LogitechMouse

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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?

Its because bitcoin is the first cryptocurrency that's why it is the most popular. Bitcoin has been the star for a long time before altcoins came and because of the high price of bitcoin I think is the reason why it is so popular but altcoins are becoming famous too as days passed by so who knows. Maybe altcoins will be more popular than bitcoin in the succeeding years.

pushups44

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I agree that a large part of bitcoin's popularity is its status as the very first cryptocurrency. In business there is a real phenomenon called the first-mover advantage. Bitcoin has built up a brand name that is hard for other cryptocurrencies to rival. Right now the brand name is as powerful as the technology behind it.

drawoh14

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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 became popular because it is the founding father of all cryptocurrencies and many major companies now are accepting bitcoin as payment and I think it is the best way to promote bitcoin in the industry

aoloili

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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?

Simply because bitcoin is the highest value altcoin at the present time and volume increases day by day.

King Sastro

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Because bitcoin is the first cryptocurrency, since being first would be easy and most famous, almost all trades use bitcoin as a price benchmark so the use of bitcoin is very large than any other cryptocurrency.

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