Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: ambar33n on July 10, 2018, 08:45:13 PM

Title: The real reason BTC has remained on top despite so many alternatives
Post by: ambar33n on July 10, 2018, 08:45:13 PM

This may be a stoner-ish thought, but bear with me. In addition to its 'first mover status' and all the media hype over the years, I believe one main reason Bitcoin is still the top crypto is because it is fundamentally relatable. What I mean by that is, because it uses proof of work (PoW), the general public can better relate to it because it is synonymous with the fact that they themselves must work to earn money. They like the fact that the machines must work hard to obtain a profit, because it is such a familiar concept.
Compare that to any proof of stake (PoS) coin or token, and the same level of attraction just isn't there, because it implies that only the rich can play. Opinions?

Title: Re: The real reason BTC has remained on top despite so many alternatives
Post by: Kiran Sehzadi on July 14, 2018, 11:16:12 AM

nonymous created helps. Imagine having the CEO of the dollar.

Like what happens when Vitalik dies?

Satoshis genius was not just in the tech but in the choice to remain anonymous.

Title: Re: The real reason BTC has remained on top despite so many alternatives
Post by: sugarchrisp on July 14, 2018, 11:22:03 AM

There's just no vulnerabilities that anyone has found too.  Bitcoin has been around for almost 8 years now, it's lasted and it's trusted for the most part.  Other coins will reach the same level of success eventually, but for now everyone trusts bitcoin simply because it's been around for so long, other coins have to be established longer before they get adopted en-masse.