5 Reasons Why Bitcoin is King Cryptocurrency
7 years ago in #bitcoin by davidhay (56)
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Bitcoin will always be around but Ethereum is going to take the throne soon. You see, Chaos is a ladder. Many who try to climb it fail and never get to try again. The fall breaks them. And some are given a chance to climb, but they refuse. They cling to the realm or the gods or love. Illusions. Only the ladder is real. The climb is all there is.
Although, it might happen I do not think so. The main reason is a philosophical one. Right now there are crypto's that surpass the tech of BTC, yet they don't even come close to BTC. BTC has become a symbol. Before Ethereum or even Litecoin when you hear crypto currency the first thing that pops into your head is bitcoin. Bitcoin will represent all of it and will always be valued as such. It started the movement and out of respect for it people will value it even more. It is a reason why it is considered the gold of the industry.
In the crypto space BTC is the currency of choice. Despite some ETH pairs, most times, if you want to get into any alt coins you have to buy BTC first. That demand is huge and will continue. BTC will also improve as it has a lot of development commitment. If, or rather when big players will come into this space in numbers, they will need large denomination players to enter, and BTC is the largest. BTC is here to stay and thrive.
You've got a good point that BTC has the brand recognition going for it. Whenever someone who knows I'm into crypto pokes fun at the market they don't say "hey how much money did you lose on Cardano?"
Agree with all of these David! When bitcoin fix their issues that it is having at the moment, Then it will the absolute king!
I think that Lightning Network can be huge positive for Bitcoin, because can reduce the transaction cost and give to Bitcoin scalability.
+1! I really can't wait for this to happen. Even if it's out since almost 10 years we're not even halfway down, development wise. Still a lot of room for improvement :) great read, @davidhay
Agreed on all points. I love to see how many Youtubers start to slowly switch from ICOs and hot content to actually reporting on solid projects.
Also it is the fundemental crypto for exchanges with altcoins and I guess safest.
I think this is all true. I also think that as long as bitcoin is king that litecoin will continue to have utility. Sending bitcoin takes a long time and is expensive, and most exchanges have litecoin readily available with cheaper and quicker transactions.
Thanks for the post, I fully agree :)
I love technology and I have the feeling that Bitcoin is getting to old.. And the lightning network might save him... But very expensive transactions slow transactions... And a lot of things that should be improved at this point makes me fill unease with Bitcoin... ETH for me is much better and I think the future might bring better solutions... Bitcoin is now some sort of value storage, but not usable coin in the world of crypto 2018.
Bravo David!! ups_and_downs.jpg BellaVita Sempre.
The bitcoin vs Ethereum battle is really going to heat up in the next 18 months. Lightning network is often spoken about in whispiers by bitcoiners as the white knight, but when/will it ever roll out and improve the xfer speeds? Either way, It's an exciting time to be a speculator!
What are your thoughts about Lightening Network?
👍
A thought on the branding: I think Bitcoin has name recognition, yes, but it is not at all in control of its brand. In fact, it takes a consistent beating from alt coins that do have marketing budgets or a central spokesperson.
I think there are a few other advantages for consideration:
Analysis is spot on. Bitcoin is the king. All you need to do is to go to worldcoinindex.com and look the the 7D charts and see how all the Alts are just mirroring Bitcoin. Been trading Bitcoin to USD and playing the trading range for small, but consistent, profits. Trying not to get whipsawed by the markets.
I agree with this post. While bitcoin might be the king, and isn’t just a pure speculative coin, there are still legitimate token and coins out there. And while some may not be “launched” yet the companies and development teams are legit. But a lot of them may not be as well. Exciting things to come in the future! But always, do your own research!
To Me Bitcoin (BTC) Is Still The Undisputed King Of Crypto.