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Author Topic: Why bitcoin is successful? - this one statement sums it up!  (Read 4064 times)
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September 15, 2019, 12:46:33 AM
 #101

At it's beginning,,bitcoin looks very egalitarian in it's core.This must have been a big reason,why the early adopters started mining btc and spreading awareness about the first cryptocurrency.
10 years later,the egalitarian nature of btc is gone.There are big miners,big crypto whales and big crypto exchanges.The myths about zero fee instant transactions and 100% anonymity are busted.
However,the lack of complete centralization is still a big advantage.

If it looked egalitarian in the beginning it was by accident. For starters, everyone did not own a computer. And everyone did not own a farm of computers. even in the old days, the race was on and some people simply had more capital to invest more into mining than others.

Mining in itself is not the reason to be for Bitcoin, and as you can see, only 10 years later is starting to look uninteresting. Eventually all those big miners will leave as it becomes unprofitable to mine at any scale, and only a few hobbysts and those with free electricity will remain..

I don't know what you think "instant" means, but a Bitcoin transaction is lightning fast next to a regular international wire transfer. It might not compete against a debit card (without LN) yet, but for almost anything else its better. 1 hour wait? next to 1 week wait?

Anonymity still depends on you. If you mine it yourself, or if you know how to purchase them. Anonymity wasn't really its core feature, the blockchain is public anyone can follow transactions as long as you disclose them.

Most of your comments seem to be your own self made pre-conceptions. Bitcoin is still Bitcoin, it didn't came here to end inequality or give you anonymity.



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September 16, 2019, 04:50:40 PM
 #102

Bitcoin can be successful because whales support it. People with economic potential, dreams of changing the investment trend of the world. Those who have created Bitcoin's success can be known as heroes of Cryptocurrency.
I think the most important aspect of the success about Bitcoin is that of it decentralized process of existence among all other cryptocurrency. Its just a project with success and never attached anyone to the success, no controllers, no intimidation from owners, a technology that give freedom for all to be their own self bank and have full control over their wealth. Sometimes, Bitcoin wonder me about it success when I see other coins struggling with the regulations and government, like Libra coin.
That is a false statement, whales do exist but the popularity of bitcoin is not achieved by whales, bitcoin is famous for many things, rapid user growth, makes prices explode and that's what makes bitcoin more successful. Whales does not give any contribution to succesfully of bitcoin, but they can actually worsen bitcoin itself because the action is only concerned with their interests.
Although whales have their own positive side also, but the damage that they later cause to the market is something that cannot be comprehended. If there were no whales, the market would have been growing without seeing much panic sell that usually do pull the price of bitcoin down.

Whales started this problem since 2017 when they suddenly entered the market to make some moves that was not in line with how the market should have moved, they pumped money in which made the value surge and most people fell for it out of fomo, and that was the weakness that they saw in us that made them dump the coin and many of us panicky sold into their hands, but despite all their manipulation, bitcoin still manage to survive and that is the success story.



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October 06, 2019, 07:09:53 AM
 #103

The only thing I love about why Bitcoin is successful is that of "No Board Meeting" to discuss the selfishness that will put the majority into abject poverty. I don't foresee in the near one decade to two of any project that will come closer

Using bitcoin makes you feel that you own a company or a business, it feels good because you boss yourself around when you are going to work, when to stop, and what to do. Bitcoin gives us a lot of conviniency in life that we could never had when we are in a real job, also bitcoin gives us a lot of money by sitting in front of our monitors all day doing Trading, or even here in this forum doing signature campaigns. It is the definition of "work smart, not harder".


you have only look in one direction or have focus on what you are doing.
Bitcoin is not a job, it's just a currency, what you are doing in front of your computer is you are earning bitcoin through signature campaign, and yeah, you are your own boss as you hold your own time, but you can also do it with other online job with different payment method.

Lastly, don't think too much that signature campaign is a job as it's not.. it's just a privilege to earn and it come go away anytime.

looking for signature space? use mine
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October 06, 2019, 08:45:46 AM
 #104

I think it is more or so because of :-
 Globalization
 Better job opportunities
 Volatility makes a good trading opportunity
 Well known
 Biggest crypto
 Needs less documentation
 Trustable
 Gives freedom to people
 Not controlled by the government
 No set time limit for encashing or buying
 ..etc..



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October 06, 2019, 10:23:36 AM
 #105

This is not quite right. Bitcoin is the father of great Blockchain technology and it's replacement is Bitcoin, but Bitcoin has many challenges to overcome, there is so much work to be done, just like on all Altcoins. It has to find a reliable proven scaling technology, which we may already have with Lighting network or Liquid, but we don't know for sure yet. It needs to have much better UX for second layer wallets on all platforms. It needs to gain the long term trust of billions around the world. Ethereum competes on different aspects that bitcoin doesn't compete in. Ethereum is for the whole dapps and ICOs type of stuff. So Ethereum might be used more like a "virtual stock exchange" or smart contracts type of network whereas bitcoin competes on store of value and medium of exchange as lightning network.
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October 06, 2019, 12:39:52 PM
 #106

The suffering. At some point bitcoin will erase it in you if you're in good terms with bitcoin. Like, you invest and then your investment grows, and then help you to overcome such so-called sufferings, might be financial? Ofcourse! But if the other thing had happened then bitcoin might be an other burden for you. Yes, it does help if you're doing it wisely. Bottom line here, bitcoin is successful because it really did portray a real money, but doesn't have the same stuff like a real money does.

There are so many people I know that bitcoin help them to solved their financial problem, and you won't believe it, they are doubters of bitcoin at first, but now they are all bitcoin enthusiast, first impression is always wrong I guess. They was struggling to support their family financially in the year 2016, so I tried to be a good samaritan and introduced bitcoin to them, they was having a hard time also understanding how it works

but in the end they managed to make it through.
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October 06, 2019, 04:10:28 PM
 #107

The first and foremost reason is the anonymity blockchain transaction offer.Also, BTC allows people to send money to any place in the world at very low costs. The transactions are completed faster than the normal transfer between banks. Seconly, the BTC transactions are extreemly secure. It is very difficult someone to steal your money when we talk about BTC wallets. Although, there are ups and downs bitcoin has a big potential. We see that BTC is going up but i think in the future BTC will become stable. What do you think will BTC become stable?
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October 06, 2019, 05:23:07 PM
 #108

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?

We often look for the answer of these questions. The twitter handle of CryptoKanoon answered it and I can't resist myself from sharing it with the fellow community members.

The tweet says,

Quote
No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings.

I don't think of anything better can be answered against those above mentioned questions! Want to beat it??

Original content link: https://twitter.com/cryptokanoon/status/1132223935058042880


No questions raised, bitcoin is enjoying its dominance in crypto space because of the reputation it planted through out the years of its existence, and no alternative currencies has been overthrowing it from its position. Looking at the convenience it offered the crypto space, who wouldn't to have it and use it as their currency for their transactions. Peoples freedom to fully control their money is the biggest reason of the dominance, and the anonymity of every transaction laid by the blockchain technology will also add up to everything that convinced  the traders, investors and businesses to patronize bitcoin.


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CherylltheBombshell
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October 06, 2019, 09:30:31 PM
 #109

This is the best but i wanna add “Unlimited break and lunch time” 😅😅😅

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rodel caling
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October 06, 2019, 09:49:14 PM
 #110

Without anything for bitcoin no management, meeting etc. but promtion is have people promoting bitcoin through internet soical media, that why bitcoin today is popular and successful by the help of new technology bitcoin popularity as new currency is easy to,spread the world about this important information to encourage people to learn and asopt bitcoin.
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October 06, 2019, 10:01:34 PM
Last edit: October 06, 2019, 10:11:40 PM by finaleshot2016
 #111

Are you referring decentralization? The fact that you said you where no one can control bitcoin because it's decentralized. That's why investor and other users wanted it because of its potential as an independent cryptocurrency.
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No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings
Another thing is having an anonymity gives great factor for those who wants to do transaction secretly but the tx is recorded and transparent in the block chain. But still, bitcoin is being promoted by other people who is affiliated to satoshi or admins, some of it are are being promoted in social media so I think they're still doing and have social media. I don't know if it's legit but if satoshi really created this forum, then theymos is one of the employee here, but not in bitcoin, only in the forum.

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October 06, 2019, 11:33:41 PM
 #112

Why bitcoin is successful?
Why no other crypto currencies are able to even come closer to it?

We often look for the answer of these questions. The twitter handle of CryptoKanoon answered it and I can't resist myself from sharing it with the fellow community members.

The tweet says,

Quote
No head
No funding
No employee
No PR agency
No Social media
No advertisement
No board meetings

The only reason which made #bitcoin succesful was the purpose and that was to help people overcome their sufferings.

I don't think of anything better can be answered against those above mentioned questions! Want to beat it??

Original content link: https://twitter.com/cryptokanoon/status/1132223935058042880



It is a so simple but nice explanation for Bitcoin's success. Bitcoin is the oldest and strongest cryptocurrency in the market. People really liked it and started to use it. Investors chose Bitcoin to invest in mostly.

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