Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: jibon.ahmed75 on January 14, 2020, 07:12:09 PM

Title: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: jibon.ahmed75 on January 14, 2020, 07:12:09 PM
The cost of Bitcoin transfer is very high. And it takes a long time to get out of the way. Otherhands, the speed of Altcoin is very high and the transfer cost is very low. i think, Bitcoin is not perfect for small transfers.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: Zed0X on January 15, 2020, 10:05:34 AM
It's no longer a secret that bitcoin transactions takes longer confirmation time compared to other altcoins like ltc, doge, dash, and xrp. If one wants to fasten it up, he/she shall pay higher fees so the miners can "prioritize" his/her transaction.

I can't say for sure why some people refuse to use altcoins when sending payments but it's probably because of ethics or they believe it's against the idea of decentralization. Another reason is probably out of loyalty to bitcoin.

Quote from: jibon.ahmed75 on January 14, 2020, 07:12:09 PM
~ i think, Bitcoin is not perfect for small transfers.

Segwit and LN were developed to address this.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: alstevenson on January 15, 2020, 02:30:18 PM
I get your idea bro, most people in this industry really use bitcoin in transaction because they knew that bitcoin is truly decentralized and its the most popular. And somehow, most people only know bitcoin and don't know about other altcoins in the market. But as we go over I think people will still choose bitcoin over altcoins in terms of transaction despite of its speed and cost.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: Alcor on January 15, 2020, 05:36:41 PM
People keep bitcoins because they hope to profit from the growth of its price. However, for transactions, altcoins are still used, which are really more convenient. It is estimated that more than 90 percent of all transactions are in ethereum, tron and EOS. Bitcoin transactions are relatively few. If the functionality of Bitcoin does not improve, then over time it will lose popularity and leadership positions.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: Cutter Cute on January 15, 2020, 05:58:36 PM
Bitcoin will always be an option because it has a higher price compared to altcoin, the speed of sending transactions does not prevent someone from choosing bitcoin.
There are many reasons that cannot be mentioned directly because as we know, there are many shareholders who have more Bitcoin, they can sell and choose stablecoin for transactions.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: tervel on January 16, 2020, 07:49:37 AM
One of the simplest and most important requirements in the crypto world it is to be held by a large number of people.Forgetting how cryptocurrencies and their blockchains actually work for a moment, Bitcoin is still the most viable currency for retailers to accept and use.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: LogiC on January 17, 2020, 07:48:12 AM
Not many altcoin are convenient enough and accepted by many establishment. Unlike bitcoin which has been accepted by most merchants. The important thing here is the use case and availability of the coin to be use on different fields. Blockchain is useful but there is what we called pioneered approach which the first one usually rip the glory.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: shadowdio on January 17, 2020, 03:32:13 PM
Yep, I don't recommend bitcoin to those who transfer their low funds, the fee is so high. Better to use Doge or XRP if you want to transfer your funds.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: Fenix on January 17, 2020, 05:39:00 PM
Yes, bitcoin is still rarely used as a means of payment. People buy it and hold it mainly as a means of accumulating value, hoping for high price growth in the future. It seems that this situation will continue. Now states will massively issue their national stable coins and it is possible that people will use these stable coins as a means of payment. It will largely depend on how convenient and profitable it will be to use them.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: alltalk on January 17, 2020, 06:29:22 PM
Quote from: jibon.ahmed75 on January 14, 2020, 07:12:09 PM
-snip- i think, Bitcoin is not perfect for small transfers.
Agree. For small transfer, it is better to use altcoins that have lower costs. But it doesn't mean having altcoins as our assets are better than having Bitcoin. Even if Bitcoin has a high cost to transfer it but the value tends to be more consistent to grow than altcoins.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: Master107 on January 18, 2020, 05:19:41 AM
For now and tomorrow save your bitcoin.
Why do transaction using bitcoin if you can do it using altcoins fees?

Treat bitcoin as the most precious coin that perfect to hold.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: Latunes on January 21, 2020, 04:31:52 PM
There is such a thing as a habit. There is also a fear of something new. Although this is strange, because if you use bitcoin, then you clearly love the latest. And they are afraid of new products, using the new products is rather strange. Personally, I do not use bitcoin, I can not know from this. I just use altcoins.
Title: Re: Why people use bitcoin? Altcoin transaction speed is so fast and low cost.
Post by: Jaguar on January 22, 2020, 04:34:26 AM
Some possible reasons are:

Fear of bitcoin to stop and be dead.
They own large amount of bitcoin.
It is their Habit.
No choice.