Why is Bitcoin worth so much more than other crypto

tygeade

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Quote from: Cookdata on January 15, 2025, 01:41:48 PM

What technology standpoint are you talking about? The meme coins? The jpeg files and documents? Lmao. There is no any technological advancements that has superpass Bitcoin in any form, if it was for speed, there are many things that are been broken about altcoins for achieving the speed, it's something Bitcoin can achieved too but there many things that are going to be compromised and security details will be as well that's why the protocol remain the way it's.

Bitcoin is expensive because a lot of people trust it as it's the first legacy coin about cryptocurrency that is successful, it doesn't have teams that will dilute to the market and make irrational decisions by selling, it doesn't have foundation or any thing that makes it decentralized which is why it remain the best asset for anyone. Have you ask why Bitcoin is always the reference for cultural reserve in the US? The truth don't hide, Bitcoin only.

The one I can only imagine is stuff like SOL and Tron or whatever, where you could have much more transaction, still secure, but much faster and cheaper. Bitcoin definitely needs that, we have bitcoin that is used the most, but it's also very slow and very expensive, it even prevents adoption as well, because you can't just go out to some cafe and spend bitcoin, it would take minutes, and depending on fee you use, maybe even an hour, so it's very slow, and you would have to pay tens of dollars for it, no need for that.

If we could have better innovation for bitcoin, where we have it under a minute, and also spend less than a dollar, that would be lovely and I would say others already solved that problem so bitcoin take a look at it and make a change maybe.

DediRock

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Bitcoin leads due to its trust, security, and first-mover advantage. Other cryptos struggle to match its adoption and scarcity. As a bitcoiner, I see Bitcoin as the true leader.

Cookdata

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Quote from: rosefan on January 15, 2025, 12:19:18 PM

From a technological standpoint, many quality crypto projects are already ahead of Bitcoin. However, during bull cycles, Bitcoin typically reaches its all-time high (ATH) first. Then, Bitcoin's dominance decreases, and altcoins start hitting their ATHs. The altcoin rally is just beginning, so I find this situation quite normal.

What technology standpoint are you talking about? The meme coins? The jpeg files and documents? Lmao. There is no any technological advancements that has superpass Bitcoin in any form, if it was for speed, there are many things that are been broken about altcoins for achieving the speed, it's something Bitcoin can achieved too but there many things that are going to be compromised and security details will be as well that's why the protocol remain the way it's.

Bitcoin is expensive because a lot of people trust it as it's the first legacy coin about cryptocurrency that is successful, it doesn't have teams that will dilute to the market and make irrational decisions by selling, it doesn't have foundation or any thing that makes it decentralized which is why it remain the best asset for anyone. Have you ask why Bitcoin is always the reference for cultural reserve in the US? The truth don't hide, Bitcoin only.

rosefan

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From a technological standpoint, many quality crypto projects are already ahead of Bitcoin. However, during bull cycles, Bitcoin typically reaches its all-time high (ATH) first. Then, Bitcoin's dominance decreases, and altcoins start hitting their ATHs. The altcoin rally is just beginning, so I find this situation quite normal.

philipma1957

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Well all pos coins unless directly linked to mining are Pieces os shit 💩.

Thus 90% of coins are pointless garbage.

Solana is a rare pos coin as it is directly linked to the helium hotspots mining. most other pos serve no purpose other than to enrich the developers.

There are only a dozen or two dozen coins with some value.

After them the rest are repetitious garbage.

In no order at all.

xec
bch
btc

doge
ltc
pepe
lky

grin
raven
xelis

iot

kas

moreno

the above have some value.

I would argue only a few more are worth while.

Baki202

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Quote from: arwin100 on December 31, 2024, 06:56:24 PM

I also guess the level of trust is so high since for many years Bitcoin remain reliable asset that's why many people prefer to have this rather than any altcoins in the market. Many people also see some good opportunities on other coins since they believe that if they are new in the market the chance of getting a good pump is high and that's profitable for them. Also I really don't like the idea about spreading our investment to various coin since market is so unpredictable and there are so many scams on the market that's why I'd better choose few reliable options rather than picking lots of risky alts out there.

People have trusted bitcoin to level that if not for anything they will not want to even comsider investing in any other coin except bitcoin, and there people that the only coin they know about is not other than bitcoin and no matter how things must have changed they won't seems to care they will choose bitcoin any day any time, and the trust people have in altcoin have blinded them that they don't want to see any other coin if not some new coins coming to market might actually give a good profit, this are all part of the reasons why there are people that also prefer to buy altcoin than bitcoin, and if you spend your money in different aspects of coins, then there is more options to consider, because there are of coins that there is no prospect in them so the coin you select will determine what you will get. And it is better to make use of platforms thay will help select coins that will give you profit.

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Quote from: batang_bitcoin on December 30, 2024, 06:48:12 PM

They have their respective functions and markets. That's why many investors are stopping getting into Bitcoin because they think that those altcoins that they have chosen are way worth more than of Bitcoin. They're looking at the numbers and expensiveness of Bitcoin. So, instead of spending that $90k for a Bitcoin, they are spreading it into various cryptos that they think will grow tremendously than Bitcoin. But if someone out there is still thinking and having hard time to decide, I tell you one thing; you'll never go wrong in choosing Bitcoin.

the truth is, as of late, most of alts has been underperforming, back then market favour low market cap alts because it's easy to grow, this market is different, high trading volume and high market cap coin are the one making a big bullrun, BTC is doing 400% gain while alts are having around 10-20% gain compared to few months ago for most of alts with mediocre market cap and probably around 1.8 - 2x gain for the one that's in line with current narrative.

the only thing that makes me think BTC can be valued so much more compared to alts is simply because unlike alt where there is so many premined or pre minted coin for investors and teams and the community usually only holds 10% at the beginning, BTC is fair game for all.

tottong

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Quote from: batang_bitcoin on December 31, 2024, 11:52:55 AM

They only see it because they think that they'll get larger profits with those coins. That's true and that's the reason why they think that it should be better than Bitcoin. Other than that, they just don't like Bitcoin because of its high price, they think that it's too late for them to have Bitcoin at these price ranges because it's not worth it for them. But if they will analyze it, Bitcoin is going to move forward as this is the blue chip of this market and everyone needs to take that.

The reason is classic and common because humans are never limited to thinking about making more profit but they do not adjust the capital they use.
In certain cases it may be true that some people succeed in doing it but there is almost no larger percentage that succeeds in implementing the concept.
Bitcoin is clear in terms of returns and it really depends on the capital we apply and on the other hand bitcoin can provide much more certainty as long as people understand the process of its journey.

The price should actually be a strong belief because usually the price of an item will increase as long as there is demand and supply.
This is a certainty in carrying out investments and perhaps we can see this demand from how far Bitcoin has traveled since it was first introduced until it has developed so far.

arwin100

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Quote from: tottong on December 31, 2024, 01:36:04 AM

Quote from: batang_bitcoin on December 30, 2024, 06:48:12 PM

They have their respective functions and markets. That's why many investors are stopping getting into Bitcoin because they think that those altcoins that they have chosen are way worth more than of Bitcoin. They're looking at the numbers and expensiveness of Bitcoin. So, instead of spending that $90k for a Bitcoin, they are spreading it into various cryptos that they think will grow tremendously than Bitcoin. But if someone out there is still thinking and having hard time to decide, I tell you one thing; you'll never go wrong in choosing Bitcoin.

I don't think because other coins are more valuable and I'm sure that almost most people know the fundamental coins and have a higher value in Bitcoin.
But why do people see opportunities in other coins because they think they can generate large profits with relatively smaller capital and when the coin gets pumping will give them big profits.
Spreading to various coins does have a risk, but if they are able to see opportunities in certain coins, they can provide benefits. If you want to look safer in investment, choosing Bitcoin is a much better choice and does not provide a large risk if invested correctly.

I also guess the level of trust is so high since for many years Bitcoin remain reliable asset that's why many people prefer to have this rather than any altcoins in the market. Many people also see some good opportunities on other coins since they believe that if they are new in the market the chance of getting a good pump is high and that's profitable for them. Also I really don't like the idea about spreading our investment to various coin since market is so unpredictable and there are so many scams on the market that's why I'd better choose few reliable options rather than picking lots of risky alts out there.

batang_bitcoin

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Quote from: tottong on December 31, 2024, 01:36:04 AM

Quote from: batang_bitcoin on December 30, 2024, 06:48:12 PM

They have their respective functions and markets. That's why many investors are stopping getting into Bitcoin because they think that those altcoins that they have chosen are way worth more than of Bitcoin. They're looking at the numbers and expensiveness of Bitcoin. So, instead of spending that $90k for a Bitcoin, they are spreading it into various cryptos that they think will grow tremendously than Bitcoin. But if someone out there is still thinking and having hard time to decide, I tell you one thing; you'll never go wrong in choosing Bitcoin.

I don't think because other coins are more valuable and I'm sure that almost most people know the fundamental coins and have a higher value in Bitcoin.
But why do people see opportunities in other coins because they think they can generate large profits with relatively smaller capital and when the coin gets pumping will give them big profits.
Spreading to various coins does have a risk, but if they are able to see opportunities in certain coins, they can provide benefits. If you want to look safer in investment, choosing Bitcoin is a much better choice and does not provide a large risk if invested correctly.

They only see it because they think that they'll get larger profits with those coins. That's true and that's the reason why they think that it should be better than Bitcoin. Other than that, they just don't like Bitcoin because of its high price, they think that it's too late for them to have Bitcoin at these price ranges because it's not worth it for them. But if they will analyze it, Bitcoin is going to move forward as this is the blue chip of this market and everyone needs to take that.

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Quote from: Zoomic on December 30, 2024, 02:50:49 PM

Quote from: Rampagoe004 on December 29, 2024, 05:20:26 AM

Bitcoin was the first cryptocurrency to appear in Cryptocurrency then followed by other altcoins that were similar but not the same. There are several reasons why Bitcoin has quite high potential to date, Bitcoin was first created in 2006 by Satosi Nakomoto with strong fundamentals so that it can create many new altcoins are children of bitcoin therefore the prices of other altcoins do not have the potential to be the same as the king of coins which is Bitcoin.
I think other Altcouns have missed something important the origin of the cryptocurrency space as a whole is sticking to Bitcoin.

It is not all businesses, organisations or inventions that first came into existence that are able to remain and stay ahead of competitors for a very long time the way Bitcoin has done. Satoshi really did well by handing over Bitcoin to everyone of us and that is the major strength of Bitcoin.

The fact that Satoshi gave everyone the opportunity to participate in the development of Bitcoin and control if too is the main reason Bitcoin will continue to be ahead of altcoins. Lots of people mine, develop and control and secure Bitcoin, this means lots of people trust Bitcoin. No wonder whenever people talk about crypto, the thing that comes to the minds of every average man is Bitcoin. Many altcoins will never attain this level, even if they do, they can never defeat Bitcoin.

Sometimes there are some companies that happen as "not the first one" but become the biggest, like for example you think Amazon is the first market place in the world? Of course not, hell at the start it was just a bookstore and nothing more, an online bookstore, you didn't buy stuff there like a marketplace, you just bought books, and then it became this giant huge thing.

So not everything is the first thing in its existence, and we shouldn't really consider this as crucial or important, we need to realize this could be a solution that could be very final, when we need a better approach. Bitcoin is the most important one and that would be a lot better idea because there isn't anything better on the market right now, if there was something that was better than we would have definitely used that one.

tottong

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Quote from: batang_bitcoin on December 30, 2024, 06:48:12 PM

They have their respective functions and markets. That's why many investors are stopping getting into Bitcoin because they think that those altcoins that they have chosen are way worth more than of Bitcoin. They're looking at the numbers and expensiveness of Bitcoin. So, instead of spending that $90k for a Bitcoin, they are spreading it into various cryptos that they think will grow tremendously than Bitcoin. But if someone out there is still thinking and having hard time to decide, I tell you one thing; you'll never go wrong in choosing Bitcoin.

I don't think because other coins are more valuable and I'm sure that almost most people know the fundamental coins and have a higher value in Bitcoin.
But why do people see opportunities in other coins because they think they can generate large profits with relatively smaller capital and when the coin gets pumping will give them big profits.
Spreading to various coins does have a risk, but if they are able to see opportunities in certain coins, they can provide benefits. If you want to look safer in investment, choosing Bitcoin is a much better choice and does not provide a large risk if invested correctly.

batang_bitcoin

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They have their respective functions and markets. That's why many investors are stopping getting into Bitcoin because they think that those altcoins that they have chosen are way worth more than of Bitcoin. They're looking at the numbers and expensiveness of Bitcoin. So, instead of spending that $90k for a Bitcoin, they are spreading it into various cryptos that they think will grow tremendously than Bitcoin. But if someone out there is still thinking and having hard time to decide, I tell you one thing; you'll never go wrong in choosing Bitcoin.

Woodie

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It's worth so much because it's regarded as the mother of all cryptocurrencies, even though I read somewhere that Bitcoin wasn't the first crypto coin out there** that's a topic for another day**

But I also believe it's worth more because all cryptos use it as a scale to value other altcoins as a base currency..and the obvious reasons has to do with its fixed supply and halving that leaves it to rely on demand to push it's price.

Zoomic

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Quote from: Rampagoe004 on December 29, 2024, 05:20:26 AM

Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Bitcoin was the first cryptocurrency to appear in Cryptocurrency then followed by other altcoins that were similar but not the same. There are several reasons why Bitcoin has quite high potential to date, Bitcoin was first created in 2006 by Satosi Nakomoto with strong fundamentals so that it can create many new altcoins are children of bitcoin therefore the prices of other altcoins do not have the potential to be the same as the king of coins which is Bitcoin.
I think other Altcouns have missed something important the origin of the cryptocurrency space as a whole is sticking to Bitcoin.

It is not all businesses, organisations or inventions that first came into existence that are able to remain and stay ahead of competitors for a very long time the way Bitcoin has done. Satoshi really did well by handing over Bitcoin to everyone of us and that is the major strength of Bitcoin. The fact that Satoshi gave everyone the opportunity to participate in the development of Bitcoin and control if too is the main reason Bitcoin will continue to be ahead of altcoins. Lots of people mine, develop and control and secure Bitcoin, this means lots of people trust Bitcoin. No wonder whenever people talk about crypto, the thing that comes to the minds of every average man is Bitcoin. Many altcoins will never attain this level, even if they do, they can never defeat Bitcoin.

Smack That Ace

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Quote from: Rampagoe004 on December 29, 2024, 05:20:26 AM

Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Bitcoin was the first cryptocurrency to appear in Cryptocurrency then followed by other altcoins that were similar but not the same. There are several reasons why Bitcoin has quite high potential to date, Bitcoin was first created in 2006 by Satosi Nakomoto with strong fundamentals so that it can create many new altcoins are children of bitcoin therefore the prices of other altcoins do not have the potential to be the same as the king of coins which is Bitcoin.
I think other Altcouns have missed something important the origin of the cryptocurrency space as a whole is sticking to Bitcoin.

There is no denying that bitcoin is the first coin and the origin of the cryptocurrency industry, without bitcoin we would not have the cryptocurrency industry. But I think that is not enough for bitcoin to become king and maintain its throne. If bitcoin did not have a difference and superiority over the rest, bitcoin would have been defeated long ago.

Gold was not the first metal discovered and used by humans, but it is considered the most valuable metal and asset in the world because of its unique properties that no other metal can compare to. Similarly, I think it is the decentralized nature, scarcity and security of bitcoin that has helped it become the king and maintain its position. Bitcoin is the only coin that possesses these elements, while no altcoin has them.

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Quote from: ? on December 30, 2024, 09:11:23 AM

many factors that determined the choice of bitcoin as a currency that can be used to buy up the whole world.

A very interesting fact is that the code is open source. There is no logic that Bitcoin should cost more than altcoins, except for the explanation that a high Bitcoin rate is needed by those who have a lot of them. Any crypto can be made expensive if you pay a lot for it.

?

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Quote from: Rampagoe004 on December 29, 2024, 05:20:26 AM

Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Bitcoin is still the standard of all cryptocurrencies. And it's very profitable to leave it that way. Those who have a lot of Bitcoins have the whole world. To buy back power over the world with bitcoins. Previously, this function was performed by the dollar, but bitcoin is more convenient. There could have been another crypt in place of bitcoin, but there are probably many factors that determined the choice of bitcoin as a currency that can be used to buy up the whole world.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Bitcoin was the first cryptocurrency to appear in Cryptocurrency then followed by other altcoins that were similar but not the same. There are several reasons why Bitcoin has quite high potential to date, Bitcoin was first created in 2006 by Satosi Nakomoto with strong fundamentals so that it can create many new altcoins are children of bitcoin therefore the prices of other altcoins do not have the potential to be the same as the king of coins which is Bitcoin.
I think other Altcouns have missed something important the origin of the cryptocurrency space as a whole is sticking to Bitcoin.

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Quote from: retreat on December 28, 2024, 12:56:45 PM

Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

This question has been asked many times in this forum and the answer is actually simple, it is because Bitcoin is the first popular cryptocurrency and the features it offers make people interested in investing in it. Also, it does not only offer features, but it also carries the spirit of Satoshi who wanted a financial revolution, which is different from what traditional banking offers. And this is what makes more people interested in using Bitcoin, because it is original, has value, and credibility. While other cryptos just follow what Bitcoin does, and most of them just end up as dreams or scams.

also everyone got equal opportunity to get in, unlike most of alts with VC seed rounds and all where they got infinitely cheaper price compared to the retailer or average joe like us.
this means fairer odd of making profit.

just see right now big institutional investors are hesitating big time to invest into some of the alts especially the ones where they got big vested allocation for the investors, advisors, and team.

it's always the coin with high decentralization that actually making it big this time around, even defi with decentralized distribution is also making it big.

bitgolden

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Having a trust in bitcoin, the biggest crypto out there, the first one, the most decentralized one, and consider it the best one and investing into that more than anything else, isn't really looking like it is that much of a bad deal if you ask me. I mean most people invest exactly for that reason, they just think it is the best and that's what they do.

If you could consider that as something unreal, then I do not know what to say. Isn't it the oldest? Isn't it the biggest right now? Isn't it the most decentralized? Overall that makes people think it is the best and they are right, for investment purposes it is the best. Sure it has shortcomings like expensive and slow transactions, but people usually use it for investing, not spending.

Oshio-man

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Because bitcoin is the first cryptocurrency that created other cryptocurrencies in the industry today, the team behind bitcoin are more stronger than any other cryptocurrencies which is the reason why you see bitcoin increasing more than other cryptocurrencies when there is a bull season that will lead traders to earn income, because institutions and traders will like to trade their bitcoins to earn a good income which they will surely achieve their target from bitcoin, but you can't have such confidence on altcoins in the bull season because they don't have strong team like bitcoin, and whenever the price of bitcoin is increasing other cryptocurrencies will be increasing too, which are some points that make traders to like bitcoin more than any other cryptocurrencies.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Bitcoin is the first cryptocurrency that was created. It has the potential that there is no other cryptocurrency that has it. Since bitcoin was created, it has been able to get adopted by millions of people, and this is what gives it more recognition. It’s technology and network and the decentralization also involve.

Furthermore, Bitcoin has changed many people's lives from being poor to millionaires through investments that you can just do without any stress. I think there are many things that make Bitcoin get potentials that other altcoins did not get, and they will not get that as long as Bitcoin keeps existing because every day Bitcoin is growing.

retreat

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

This question has been asked many times in this forum and the answer is actually simple, it is because Bitcoin is the first popular cryptocurrency and the features it offers make people interested in investing in it. Also, it does not only offer features, but it also carries the spirit of Satoshi who wanted a financial revolution, which is different from what traditional banking offers. And this is what makes more people interested in using Bitcoin, because it is original, has value, and credibility. While other cryptos just follow what Bitcoin does, and most of them just end up as dreams or scams.

MusaMohamed

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Quote from: Strongkored on December 28, 2024, 02:07:25 AM

The answer is because crypto is developed more to gain developer profit than development for the benefit of the community, unlike Bitcoin which is developed for the benefit of the community so it gets very strong community support.
You don't need to expect there to be a crypto that can be like Bitcoin, because Bitcoin will probably always be at the forefront among other coins.

Altcoins are created for profit of their founders, developers because they premined, preminted coins or tokens.

Bitcoin is created by Satoshi Nakamoto, without premined bitcoin. For Bitcoin developers, there are information with their Bitcoin addresses for community and Bitcoin users to donate bitcoins if they see a developer has good contribution for Bitcoin history and development.

https://bitcoindevlist.com/

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Not something but there are many things that other cryptos have not been able to achieve in order to surpass Bitcoin, because Bitcoin is already famous for its technology and its pretty good network so far. In addition, in terms of marketcap volume, Bitcoin is also much larger so it will always be difficult to surpass by other cryptos, especially if other cryptos are still very new in the market so it will not be possible to immediately surpass Bitcoin which has been quite mature in the long term in terms of anything in the current market.

Strongkored

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

The answer is because crypto is developed more to gain developer profit than development for the benefit of the community, unlike Bitcoin which is developed for the benefit of the community so it gets very strong community support.
You don't need to expect there to be a crypto that can be like Bitcoin, because Bitcoin will probably always be at the forefront among other coins.

tvplus006

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Quote from: FinneysTrueVision on December 26, 2024, 10:12:59 PM

Besides all of the general reasons that have already been mentioned, ETFs have made it easier for institutions to get direct exposure to BTC. The only way for institutions to invest in coins like Ripple and Solana is to buy them directly. They might view self-custody as being too risky, and also they might not want to deal with the hassle of maintaining so many different wallets. Ethereum also has ETFs, but those funds are not allowed to stake their coins, which means for an investor, your capital is being used in an inefficient manner, therefore making Bitcoin ETFs more attractive.

In addition, the market price of Bitcoin is affected by its high cost of mining, which is incommensurable with the cost of production of altcoins. And despite the fact that sometimes the cost price of BTC is higher than the market price, but this is an exception to the general rule.

alastantiger

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Quote from: Z_MBFM on December 27, 2024, 12:44:16 AM

And after doing various researches on bitcoin, various developed countries have legalized bitcoin and various big business people like Elon Musk, Donald Trump are investors of bitcoin so no other coin can do well like btc. And bitcoin's marketcap will never exceed any other coin. Bitcoin occupies about 57% of the entire crypto market with thousands of crypto coins in the market

This isn't the reason why Bitcoin is doing better than other cryptocurrency because there are some altcoins that have more known investors and public figures backing them but still they don't have the level of success that Bitcoin has because Bitcoin is trusted that's what it's worth more. Other cryptocurrency haven't gotten the trust people have in Bitcoin. Bitcoin is the oldest cryptocurrency and has gone through bad times and good times still it didn't vanish as some projects do when they go through a bear market and they can't bounce back from the correction.

Agreed with you that Bitcoin is decentralized while most other cryptocurrency aren't decentralized also I believe lots of the other cryptocurrency, their prices are being manipulated to look successful to attract investors but since the price appreciation aren't genuine, they can't sustain the manipulation for long and the price of the altcoin finally crash the price to zero. Bitcoin has a better supply of coins and they're scarce not surplus.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Because this is the reference of the other coin, reason why we called this as the mother coin of all crypto, its start with the bitcoin, the bitcoin proven through out the years the potential of it and even with the outcome and supports by the different organizations with the bitcoin, now the bitcoin is now widely spreading even the president of the US supports with the use of the bitcoin, so like the other coins they would like to follow the move of the bitcoin but of course into different path and purpose of their coins, now its up to them how they will handle their owned coins to get ride with the crypto market.

justdimin

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Quote from: Mame89 on December 25, 2024, 02:19:53 PM

Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

because bitcoin has been proven, even bitcoin has been able to survive for more than a decade. In addition, Bitcoin grows faster and is more resilient in many ways. This has happened since bitcoin was born until now, Bitcoin has also been ranked first and has never failed. What is even more amazing is the trend of decentralization that bitcoin has had from the past to the present, even the Bitcoin network consists of tens of thousands of nodes and an unknown number of miners. This is unlike most altcoins, besides bitcoin cannot be closed by the wishes of any entity including the state.

The success of Bitcoin that is happening now has also given birth to many imitations and derivatives that seem to be able to threaten Bitcoin in various ways. However, Bitcoin has some uniqueness that cannot be imitated by altcoins. That is why bitcoin is always on top and altcoins will never be able to beat bitcoin. It can be said that bitcoin is the leader or parent of all altcoins.

I can see why that would feel any different, I can see why that would be a shocking situation, it is not really that complicated to have this type of situation and we could potentially cause it to grow even further with time.

However, we also need to realize that things aren't always easy as black and white, and this could change in the future. Of course bitcoin is the best and that is why it is at the top, but what if something else becomes the best? Either something that already exists and has an improvement that makes it best among the investor, or something that isn't even created so far and gets created and it such a unique and brand new thing that everyone loves it and becomes the best? That is not impossible, not really likely, but not impossible neither. So always be careful, yes it is the best now, and you should put most of your money into it and just hold, because that is a great way to make money, but you should be careful about it as well.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Bitcoin is totally decentralized and it is totally impossible to hack Bitcoin network. Each block of Bitcoin is very securely saved with a ledger, which is not the case with any other crypto coin. And Bitcoin is the first cryptocurrency coin to be launched as a digital currency. And after doing various researches on bitcoin, various developed countries have legalized bitcoin and various big business people like Elon Musk, Donald Trump are investors of bitcoin so no other coin can do well like btc. And bitcoin's marketcap will never exceed any other coin. Bitcoin occupies about 57% of the entire crypto market with thousands of crypto coins in the market

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Besides all of the general reasons that have already been mentioned, ETFs have made it easier for institutions to get direct exposure to BTC. The only way for institutions to invest in coins like Ripple and Solana is to buy them directly. They might view self-custody as being too risky, and also they might not want to deal with the hassle of maintaining so many different wallets. Ethereum also has ETFs, but those funds are not allowed to stake their coins, which means for an investor, your capital is being used in an inefficient manner, therefore making Bitcoin ETFs more attractive.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Not every cryptocurrency can be Bitcoin and that should be fine but they do not have to be scams as they are bringing a bad reputation to the cryptocurrency industry because when projects scam people and they begin to report it, it makes the whole industry bad as some people do not know the difference between cryptocurrency but consider all to be one that when something bad happens, they think it is Bitcoin that it is happening to. Having altcoins can be very good for the market as they bring about a different way that people can make money by trading them. Altcoins can not be like Bitcoin because they do not have the same Blockchain and for those that are operating on Bitcoin Blockchain, they are created for the wrong purpose.

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Quote from: South Park on December 26, 2024, 12:43:54 PM

Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Most of the other coins are scams

All coins (except maybe Ripple) have a Bitcoin core. The technological nature of the coin has a much smaller part in the price than speculation. Warren Buffett said: you pay the price, but you get the value. Bitcoin has disproved this saying. The value of all cryptocurrencies is almost the same, but Bitcoin wll be inflated to the point of completely will absorbing the dollar.

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Quote from: Jegileman on December 26, 2024, 02:30:01 PM

Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

It’s not and cannot be manipulated as other coins does.

Bitcoin is very well manipulated. Bitcoin is no better than other coins. He's just chosen for... . The liquidity of the selected cryptocurrencies is artificial. Crypto-exchanges create supply and demand. If you had 90% of the coins in your wallet, it would be very profitable for you to make a high price for bitcoin. A big price is made by the fact of selling on the stock exchange. You can sell to yourself from different wallets. Bitcoin can be worth a million, 10 million or more. The price is not important if you sell it to yourself... But the whole world will know this price, and they will be ready to sell anything for the new bitcoin price that you set yourself...

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

There are other good cryptocurrencies like ethereum, solana but Bitcoin has an edge being the first decentralized digital currency and a pacesetter. It currently has a market cap of 1.8 trillion, followed by ETH with 400 billion and tether with 139 billion. The well established margin makes it difficult for others to play catch up and with many nations considering having a Bitcoin reserve, it will further help it cement it place at the top, making it impossible for any digital currency to overtake it.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Bitcoin is the pioneer cryptocurrency to have ever existed and the consensus on which it works is very different from other cryptocurrencies. The decentralized nature of the coin makes it very exceptional from the rest and we may not see any of them performing exceptionally as it does.

Bitcoin has never been found much wanting as other coins does in terms of performance and use case. Its characteristics makes it suitable as a more viable option for the fiat currency rather than generalizing all crypto’s to be an alternative to fiat. It’s not and cannot be manipulated as other coins does.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Most of the other coins are scams or bad projects that are not worth your time, then it is not unreasonable for those coins to never reach the same results that bitcoin has reached, and when it comes to the rest of the coins that are legitimate projects, they will have a lot of problems catching up to bitcoin, since if we are realistic about it, bitcoin is the only coin that is actually used for everyday transactions, while the majority of those coins are just used for speculation purposes.

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you cannot ever have a "second first time". having a decentralized coin requires no advantages for people involved.
now any coin can just be launched by a full team, with insiders and so on.

its really hard to have a coin with better features. 10 minutes a block, the size, difficult adjustment. Nothing has been choosed casually.

Its impossible have a coin with larger computational power.
...

This can continue with many many reasons... and probably there are even more that we are still not really aware...

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Trust is the real difference here between Bitcoin and any other altcoins, 90% of the altcoins were premined which is same as fiat printer then why would people need something of the kind. And also Bitcoin didn't grow just overnight, it's the growth achieved in a long journey and lot of members contributed in different ways then importantly Satoshi didn't even touch his Bitcoin even though it's worth billions now is what makes people think that Bitcoin is not gonna slip away from its purpose.

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Because Bitcoin is the first coin in crypto and Bitcoin gives benefits more than the other coins. The other coins follow where Bitcoin moves as Bitcoin will be in the top cryptocurrency.

When a coin can not become popular, nothing happen to Bitcoin. But when Bitcoin lose the price and drop significantly, there will be a panic in the market. People will thinks that crypto will end soon so they will save themselves by selling their coins.

Bitcoin will be the best for a long term investment but the other coins could only good for short and middle term investment although they can be a long term investment too. But Bitcoin will still takes the position to be the leader in cryptocurrency.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

The complicated process and how bitcoin was created will be a picture of why it is so valuable, after bitcoin was created it was also followed by perfect technology so that there is a blockchain that completes perfection.
Bitcoin is also valued by the number of people's interest in investing or in other words the value of the asset is determined by supply and demand which may affect the journey in the market at any time according to the period.
Other coins do not have the same capabilities as bitcoin and that's why they are difficult to match, even if you look at ETH as the closest competitor but they are not able to surpass bitcoin.

Bitcoin is unique and there may be many advantages that it has so that people see this as the only one that has potential for the long term, apart from other coins that may be able to provide personal benefits for people who invest.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

You can't expect for other cryptos to have the same potentials with bitcoin, simply because each coin has its own utility case to its users and creates its own impact to its different users. One may find bitcoin more useful and profitable, but others would find altcoins more interesting to invest. But one thing is certain, bitcoin is still the number one coin in the crypto market, and the rest are just a copied image out from bitcoin.

Furthermore, bitcoin is the first cryptocurrency that existed in the market, so the impact hits different when it's more known to the people, compared to those new launched altcoins that have no clear utility cases even to their own developers.

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Honestly, "because it's the first one" will always be the main reason and I do not see anything getting any different anytime soon. We need to really reconsider all of this because bitcoin being first isn't always the one that is making it go to the first place and stay there. First of all, look at all the coins you see at the top, how many of them really feels "decentralized"?

I mean Vitalik wanted to switch to Proof of Stake, and all of ETH did that, XRP is literally ruled by two people at some company, USDT is just some company giving us digital numbers in exchange for our dollars, bnb is managed by binance and fully centralized. So basically, go look at anything, and you will see that there is a team behind it, whereas bitcoin is the only one without anyone and that's why I believe decentralized is the only and biggest reason for this to continue, and I believe it will continue be the case for a long time as well, that's why it's number one.

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Quote from: Questat on December 25, 2024, 10:58:16 AM

Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

I believe each crypto signifies its own brand in the market. However, the only advantage of bitcoin is its market dominance which made it having the largest market capitalization, that paved way to its bigger audience and wider adoption. Since bitcoin dominates, the rest are just like following the path of bitcoin. Although a lot have tried to compete the potentials of bitcoin, unfortunately none of them surpass bitcoin’s dominance.

It dominated the market because it's the prime mover, simply as that. Although there are other 'cryptocurrency' before it's time, they are not successful. And Satoshi acknowledge this pre-cursor in the white paper.

But Bitcoin was the first of it's kind and so we know from it's past history that there are a lot of who doubted it in the beginning and sell early and regret their decision. And even today, there are lot of personalities who says that they are Satoshi to claim as being the creator because just imagine the fame that you will get because you developed one of the greatest invention in the last 10 years or so.

Now Bitcoin is so huge, even countries knows that and so they are thinking of having it as a strategic reserves including US, Russia and China.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

because bitcoin has been proven, even bitcoin has been able to survive for more than a decade. In addition, Bitcoin grows faster and is more resilient in many ways. This has happened since bitcoin was born until now, Bitcoin has also been ranked first and has never failed. What is even more amazing is the trend of decentralization that bitcoin has had from the past to the present, even the Bitcoin network consists of tens of thousands of nodes and an unknown number of miners. This is unlike most altcoins, besides bitcoin cannot be closed by the wishes of any entity including the state.

The success of Bitcoin that is happening now has also given birth to many imitations and derivatives that seem to be able to threaten Bitcoin in various ways. However, Bitcoin has some uniqueness that cannot be imitated by altcoins. That is why bitcoin is always on top and altcoins will never be able to beat bitcoin. It can be said that bitcoin is the leader or parent of all altcoins.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

It is because every other cryptocurrencies are just imitation of bitcoin and they can't really get the quality of bitcoin. Bitcoin just remains bitcoin, a digital currency that was created not from the idea or concept of any digital currency. Every cryptocurrency tries to be what bitcoin is that is why it normally ends up to be very low in quality when you compare it to bitcoin.

Some ends up as becoming shitcoin when trying to imitate bitcoin. I think bitcoin is worth so much than other digital currency because of it originality right from it creation , it is what it is and it will be very difficult for any digital currency to be what it is.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

I believe each crypto signifies its own brand in the market. However, the only advantage of bitcoin is its market dominance which made it having the largest market capitalization, that paved way to its bigger audience and wider adoption. Since bitcoin dominates, the rest are just like following the path of bitcoin. Although a lot have tried to compete the potentials of bitcoin, unfortunately none of them surpass bitcoin’s dominance.

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Bitcoin is a decentralized currency that doubles as a store of value scalable at almost anytime with little to almost no interference and alternation of authorities unlike others that are utility and project based which cannot scale up as much as can be done with Bitcoin as they are all Bitcoin dependent but Bitcoin is independent of them all.

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Quote from: crwth on December 22, 2024, 07:35:01 AM

You know companies that have been the first ones in the field? That's how Bitcoin is. It's the first digital currency that was able to be verifiable and not duplicated. We all know its properties: decentralized, scarce supply, and security. It's all part of it, but since it's the first, it's really the most valuable.

There would be no similar success at the moment. We will never know.

Altcoins with centralization can be scarce but scarcity can not make altcoins more valuable.

An example is YFI from Yearn finance.
https://www.binance.com/en/trade/YFI_USDT?type=spot
https://coinmarketcap.com/currencies/yearn-finance/

It's total supply is very scarce, with only 36.64K YFI. See its price since 2021 to realize that value does not only come from scarcity.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

The price of any commodity, including Bitcoin and altcoins, depends on supply and demand. Considering that with each halving, the amount of BTC decreases and demand increases, this leads to an increase in the price of Bitcoin.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

A lot of folks will probably tell you its because Bitcoin was the first. And thats part of it. But to really understand why Bitcoin worth so much more than other cryptocurrencies, you must understand why cryptocurrencies have value at all. Im guessing you already know about stuff like security, decentralization, scarcity - things that define cryptocurrencies. But have you heard of network effect?

Thats when the value of something increases the more people use it. And Bitcoin has a massive network effect after being around over a decade. Its got way more users and infrastructure than the other guys. That network effect snowballs making Bitcoin more and more dominant.

Sure, being first gave it a head start and a first-mover advantage in this regard. But now Bitcoins so far ahead, it will be real tough for another crypto to catch up. Them trying to compete is like a little start-up taking on Microsoft. Good luck with that! Cheesy

BABY SHOES

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Yeah... Like someone else said this is the first coin that was created that many people thought was a coin until but now it's so valuable because of the huge community support.

Another reason why bitcoin is difficult to surpass other altcoins... because of the large adoption, it has become a reserve asset in several countries and no owner can control bitcoin.

Unlike altcoins there are owners, when they can dispose of their tokens in possession... so this is what is difficult to trust in altcoins, there have been many falls.

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Aside the fact that bitcoin is the first created crypto in the market, hence it also gained the most widespread adoption that made bitcoin become the most dominant coin in the crypto market. Bitcoin is the foundation of crypto, so it's not surprising why bitcoin is the most valuable and most in demand to its users, altcoins are only left as the alternative coins.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

If you look into the history of bitcoin op, and why the inventor did it, and what can it do for our people all over the world? There is a google search or chatgpt you will see the answer
that there is nothing more and nothing less op.

And until now bitcoin is still proven and tested when it comes to long-term investment, and you will not see anything until now like Bitcoin. Many have imitated bitcoin and many have also said that they will surpass bitcoin but all those who said that have not proven it.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

The value of an asset is determined by demand and demand is determined by its use case, practical application, the benefits it provides...and supply is also an important factor. If you compare them with each other, you will easily realize that Bitcoin will outperform all other cryptocurrencies in the above factors and many more. Because bitcoin was created with a clear purpose, it was not created just to be a speculative asset, pumped &dumped.

Similar to gold, have you ever wondered why people prefer gold over silver, iron, copper...? Because gold is completely superior to other metals in every way. You can also apply this comparison to bitcoin and altcoins.

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You know companies that have been the first ones in the field? That's how Bitcoin is. It's the first digital currency that was able to be verifiable and not duplicated. We all know its properties: decentralized, scarce supply, and security. It's all part of it, but since it's the first, it's really the most valuable.

There would be no similar success at the moment. We will never know.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Pure decentralization. Since the new tokens or coins lack this major source of criteria and mostly have some VC tokens this will not let some project become so famous such as bitcoin. Theres always a chance to bash some project with this reason alone as this could backfire to them as dumping the tokens with the community. Unlike bitcoin the holder of most users are primarily pioneers users of bitcoin, some retailers, and no VC that might dumped it except Satoshi which we knew none existent anymore as per everybody.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

the PoW that makes bitcoin secure and the fact that it's the first crypto ever, it's the mascot of cryptocurrencies so you should expect that bitcoin will dominate entire crypto market.

the reason why other alts can't do as well as bitcoin is because despite the fact that they try to come up with another interesting capabilities such as smart contract and better scaling is mainly due to the fact that they are mostly VC funded alts, where VC holds majority of allocation, their blockchain aren't that decentralized speaking honestly, since they used PoS, so big financial institutions don't want to play a losing game and instead choose the better coin which is bitcoin. thus, the billions of dollars flowing into bitcoin.

bitcoin is the biggest crypto for this reason and will always be.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

First, before we get into anything, have you read the Bitcoin Whitepaper? - https://bitcoin.org/en/bitcoin-paper
Don't you get scared. It's only 8 pages of what you need to read, and the wording is not a lot per page

Once you read the white paper, you will know why bitcoin is an awesome invention, and you will get answer to most of your question such as why it is worth much more than any other crypto copycats out there.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Because bitcoin has made an achievement others are just copying after, you can imagine when you developed an original product to someone who created a counterfeit of that same product, he will sell at a more cheaper price than you, because he know what makes the difference and would only encourage for patronage through the cheap price offered, same way we have with altcoins, some are rushing into them after discovering about bitcoin, because they wanted to make it quick, without taking into consideration the risk involved in that same thing, every other data with bitcoin are far higher compared to the summation of all other cryptocurrencies.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Actually yes, they are missing something very crucial. The Genesis of cryptocurrency as a whole, the first place of this innovation, belongs to BTC and that is something that will never change. History is being written and unfortunately for all the other coins, BTC was the first.
Simple, think about how the term "Alts" has prevailed because they are not... BTC. Regardless of name, background, code, mining procedure, etc., everything is in the "same" bag. Nothing else can be "The King", no matter what.

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Quote from: Dr.Bitcoin_Strange on December 21, 2024, 11:24:57 AM

There's different reason why Bitcoin is doing better than altcoins, first you need to understand that Bitcoin is a proof of work (POW) while so many of those altcoins are POS (proof of stake). Secondly, Bitcoin is the first crypto and it has won the trust of so many investors that has invested billions of dollars. Bitcoin is decentralized and has limited supply compared to other altcoins.

Sometimes I don’t even put bitcoin been a POW project as an advantage because some of these altcoins too use POW even before migration to others but the decentralized nature of bitcoin is what set it apart from other cryptocurrencies. Most of all these new Altcoins have were created just to correct some so called bitcoin flaws like scalability and at the end they ended exposing some vulnerabilities too which always leads people back to bitcoin. Not that bitcoin doesn’t even have little flaws but this current altcoins still do not have perfect solution to it, so bitcoin even without been the first coin it ticks many boxes than the rest

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There's different reason why Bitcoin is doing better than altcoins, first you need to understand that Bitcoin is a proof of work (POW) while so many of those altcoins are POS (proof of stake). Secondly, Bitcoin is the first crypto and it has won the trust of so many investors that has invested billions of dollars. Bitcoin is decentralized and has limited supply compared to other altcoins.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Bitcoin is the king, and it can’t be replaced as there’s only one king. Just like gold, silver can’t take its place. Think about it this way: if Bitcoin falls, the entire market will tumble with it. That’s the kind of influence Bitcoin has.

Even if there are other assets you think might be better, they’ll never overtake Bitcoin in terms of market cap. You can explore them as opportunities to diversify your funds, but for the long term, your trust should heavily lean toward Bitcoin. It’s the foundation you can rely on.

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Quote from: ? on December 21, 2024, 04:48:40 AM

why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

How they were created can explain it for you.

Bitcoin was created by Satoshi Nakamoto, a great mind with excellent developing skills, to create something that can change the world and bring blockchain to daily life.

Altcoins were created by not great mind behind, mostly with Get-Rich type of motivation and see, you can not expect great products from those people. Some succeeded like Ethereum with Vitalik Buterin but most of altcoins died and that caused many people lost money with altcoins.

Altcoin enthusiasts can feel great by calling themselves like this, but with time, most of them were betrayed by altcoins and incapable founders and developers. They hope that if they have a second chance with a time travelling machine, they will choose Bitcoin, not altcoins.

Failed altcoins.
Why 99% of altcoins failed?

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Bitcoin is the first cryptocurrency that gave birth to other cryptocurrencies. Bitcoin creator also created blockchain which other cryptocurrencies are suing but advancing.

Bitcoin remain decentralized and does not have a known developer like other cryptocurrencies. This makes it stand out from there that has creators and centralized it with their influences and design.

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why is it so difficult for other cryptos to have the same potentials as bitcoin , are they missing something?

Topic: Why is Bitcoin worth so much more than other crypto (Read 713 times)