Why Bitcoin is the most popular currency?

[Projectcrypto 4382]

6 minutes ago, BTC Future said:

Blockchains may have helped but if they are not decentralized they bring danger. A decentralized blockchain as Bitcoins is immutable. Meaning noone can go back into past blocks and alter the data. Are we sure that all these corporate blockchains are doing the same? For example is IMB's blockchain decentralized, secure and immutable? I highly doubt that. I think it is centralized and under total control of the people in charge of the company. So someone actually has power to alter the data.

This does not happen with Bitcoin.

Yes that is true and that is why bitcoin is safe on blockchain network since it is decentralized and there is no one that can get access to your account unless you give them your personal private information.

[Yomose 3704]

5 hours ago, Projectcrypto said:

Yes that is true and that is why bitcoin is safe on blockchain network since it is decentralized

Bitcoin is safe on blockchain network not because it is decentralized, it is because there are many hashes generated on the network, this helps its safety. The more the miners, the more the hashes, the more the security. 

[Projectcrypto 4382]

15 hours ago, Yomose said:

Bitcoin is safe on blockchain network not because it is decentralized, it is because there are many hashes generated on the network, this helps its safety. The more the miners, the more the hashes, the more the security. 

I understood what you actually mean here but still bitcoin being decentralized contribute to it safety especially from hackers and I will be glad if you will elaborate more on what you actually mean by the term hashes?

[Yomose 3704]

7 hours ago, Projectcrypto said:

I understood what you actually mean here but still bitcoin being decentralized contribute to it safety especially from hackers and I will be glad if you will elaborate more on what you actually mean by the term hashes?

Hashes are generated by miners, I mean mining machines like CPU, GUP and ASICs, hey ate used to secure the bitcoin Blockchain network, they are connected from nodes to nodes and also used to make transactions and mining. 

[Projectcrypto 4382]

20 hours ago, Yomose said:

Hashes are generated by miners, I mean mining machines like CPU, GUP and ASICs, hey ate used to secure the bitcoin Blockchain network, they are connected from nodes to nodes and also used to make transactions and mining. 

Thanks for that explanation mate, i think I will need to do more research on this so that I will also have add knowledge to share with other members in the forum.

[Yomose 3704]

On 8/14/2020 at 5:22 PM, ndadukun12 said:

Despite other currencies having more functionality than Bitcoin, it still managed to be the most popular and most valuable. This is because it is the first crypto currency that was created. I still thing it has some unique features that makes it stand out.

I do not get you rightly or did not get what you commented, if I may ask you, how are other cryptocurrencies  more functional than bitcoin?

I hope you are very wrong. 

Edited August 19, 2020 by Yomose

[Yomose 3704]

On 8/10/2020 at 4:28 PM, TheRaed said:

I haven't seen anyone investing in Bitcoin and then lose track of It.

 If someone buy bitcoin in the wrong time, they will lose, for example, if someone buys at $19000 on 2017, will be not be losing now if he has not sold his bitcoin. So, good strategy that will bring profit is required. All cryptocurrencies  are risky, only professionals do gain. 

[BitcryptoHan 2557]

On 7/9/2020 at 2:01 AM, Tunuu said:

I think bitcoin is the most popular crypto currency because it was the first crypto to be created and launched. Many people are believe in bitcoin than any other crypto, this made the value of bitcoin to grow daily.

You meant binance is the first crypto exchange? If so, you are very wrong. There have been crypto exchanges as far back as 2012. Binance was launched in 2017. Which means you are very wrong. 

On 8/11/2020 at 3:11 PM, Projectcrypto said:

Yes that is true and that is why bitcoin is safe on blockchain network since it is decentralized and there is no one that can get access to your account unless you give them your personal private information.

Bitcoin has the highest security when it comes to blockchain security. The more miners will generate hashes, the more secure the bitcoin blockchain network is secured. That is why, bitcoin has the strongest blockchain because it has more miners to generate the hashes. 

[Projectcrypto 4382]

12 minutes ago, BitcryptoHan said:

Bitcoin has the highest security when it comes to blockchain security. The more miners will generate hashes, the more secure the bitcoin blockchain network is secured. That is why, bitcoin has the strongest blockchain because it has more miners to generate the hashes. 

I have to believe and agree that this hashes you made mention of is the main reason why bitcoin is becoming stronger in terms of security in the blockchain, thanks for the update mate.

[BitcryptoHan 2557]

On 8/19/2020 at 11:42 AM, Projectcrypto said:

I have to believe and agree that this hashes you made mention of is the main reason why bitcoin is becoming stronger in terms of security in the blockchain, thanks for the update mate.

Yes, the hashes generated by miners make the blockchain not to be prone to 51% attack. With less miners will be less hashes, this can lead to attackers to compromise the blockchain. 

[Projectcrypto 4382]

41 minutes ago, BitcryptoHan said:

Yes, the hashes generated by miners make the blockchain not to be prone to 51% attack. With less miners will be less hashes, this can lead to attackers to compromise the blockchain. 

I understand what you mean already and I hope anyone that come across this conversation grab something to add to there experience because I never knew this before but thanks to your explanation.

[TimopheyKa 3900]

I think that bitcoin is such a popular solution for many users. Because, you can keep your funds on your balance, and also not pay taxes, your money is completely anonymous, and you can also withdraw them without any problems, receive funds, as well as a percentage of the exchange rate, bull runs !

[BraveHeart01 1569]

Bitcoin was the first cryptocurrency that was ever  created you an say it the mother of all the cryptocurrencies and that is why it is more popular in all over the world.

[Honny143 13612]

On 1/8/2020 at 3:37 PM, btcLover said:

In my opinion, Bitcoin is a popular currency because its price changes daily, so it allows us to trade it, and that its price is high, so it allows you to trade from a low price. This was my opinion, and what do you think?

This is also one possibility but other several thinks do bitcoin popular in crypto market, like bitcoin first crypto currency and its gives freedom of investment, and we use bitcoin worldwide without any problem and especially bitcoin price equals everywhere, and bitcoin opens new doors for earning.

[kryptonick 2659]

It is the most popular because for a long time there was no other coin but only Bitcoin. Some altcoins appeared two or three years later and they were named shitcoins and some of the older Bitcoin holders still call them like this. The rest cryptocurrencies have not reached close to Bitcoin not in price but in usecase ever.

[Nikel_jery 49]

Since bitcoin is the first cryptocurrency coin created in the world by Satoshi Nakamoto, so it has a large number of members, it makes bitcoin trading volume the largest.In the cryptocurrency world

[malik6314193 5449]

On 1/8/2020 at 3:07 PM, btcLover said:

In my opinion, Bitcoin is a popular currency because its price changes daily, so it allows us to trade it, and that its price is high, so it allows you to trade from a low price. This was my opinion, and what do you think?

Bitcoin is famous because of high volatility in the market. And may be other reason is that it is first ever crypto currency. Everyone knows more  about bitcoin then other currencies. 

[Naylor89 1223]

Bitcoin is the first cryptocurrency in the world. It is popular because of its expensive market value which is due to the high market demand generated by its large community. Even Bitcoin is the most trusted digital currency. So it has got legal recognition in many countries. And besides, bitcoin foundation is getting stronger just because a lot of  supporting this currency.

[valikhim 24]

Всем привет! Я согласен с мнением автора, все из-за большой волатильности да и хайп в 2017, позволил заработать многим трейдерам и инвесторам, ну и + так как сложность майнинга наверное больше чем у других монет, это делает его все больше ограниченным скажем так, а все ограниченное всегда дорогое, надеюсь вы поняли что именно я имел ввиду

[sergey_dlrs 226]

There is only reason. BTC = cash.

That's all.

[rafa31x 198]

Because more and more retailers are accepting bitcoin as a form of payment. Several investment and trading companies have even launched futures trading for Bitcoin, a measure that helped legitimize it. Another situation was Facebook's planned launch of its digital currency "Libra" in the middle of the year, which caused a rise in the value of Bitcoin and other crypto currencies in the minds of many investors.

[JGUMoney Official 48]

bitcoin is a popular currency not only for its price, but for the advantages that it offers over the old way of sending money that banks handle, for its security and others, it is true that it is widely named for the figures it reaches but also For the use that is usually given to the cryptocurrency itself, being so accessible to everyone that adds many points as well and being a decentralized currency, this is my opinion why it considers bitcoin as a popular currency today

[chinox2020 11]

In my opinion, Bitcoin is a popular currency because its price changes daily, so it allows us to trade with it, and because its price is high, in addition, Bitcoin is the first cryptographic currency and now almost a decade is on the market, the people feel good about this now, even with a very small community, their presence and existence is the most popular.

[luismar77 68]

Currently the bitcoin is positioned in many pages as the most secure and reliable crypto currency and besides that allows us to make transactions to anyone anywhere in the world in a safe and anonymous, also for its high price is ideal for investors who use this currency because it is an investment thinking about the future 

[rakimus 58]

In my opinion bitcoin is the most popular cryptocurrency because it is the first cryptocurrency to emerge and secondly it is the notoriety it has acquired over time. I like to compare this process with the life cycle of a human being; newborn, baby, child, adolescent, man ... etc.
That is, bitcoin is popular because it has a special place in people's hearts.