“Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part”. This sentence is proving pretty much what Bitcoin has that the other competitors don’t have. Bitcoin was the first cryptocurrency to be made along with the blockchain itself by Satoshi Nakamoto in 2009. Now that’s a huge advantage, but except Bitcoin after that, there were more coins which didn’t survive then why Bitcoin did? Nowadays Bitcoin is the masterpiece that was made not only by Satoshi Nakamoto but by developers all around the world with thousands of commits and hundreds of contributors making Bitcoin what it is today. Bitcoin is a revolutionary financial system, money should be owned by the holders (decentralized), not by the government or any bank system. They can take care of our money, get paid for their services, but they can’t own the money because no own it or better to say everybody owns it.
Bitcoin in the last couple of months proved to be not so much stable and bringing what it’s promising. But money systems are not built by a few days, months or years. It takes decades to build a solid money system which has a global scalability use, nine years and Bitcoin already valued at hundreds of billion dollars but it didn’t reach even the half checkpoint and it will take at least another decade to be dominance in our economic system. Already Bitcoin foundations in so many countries and such a big use, for nine years it’s much more than excepted. Bitcoin is the closest thing to be natural money system in our world, pretty surprising relative to a digital currency.
So. Why is it so better than the other competitors? Why so many people passionate about Bitcoin than any other currency? The answer is pretty simple. Since Satoshi Nakamoto isn’t here to represent Bitcoin’s vision that’s what makes this coin so good. Bitcoin will be whatever we will want it to be. Behind Ethereum, there’s Vitalik. Behind Litecoin, there’s Charlie. Behind Bitcoin? There’s us. No specific vision, not only one truth is correct. Everything is acceptable to Bitcoin and everything is welcomed either if we like it or not. No one is having a huge influence on this digital system that’s what makes it so decentralized, literally no statements only speculations and opinions. Meaning it will pump and dump from 20k to 8k and so on because now on it’s still not fully built yet, but with the coming years, it will become better and better and more decentralized, more hodlers, distributed around the world. Hodlers in Africa, hodlers in USA and hodlers in Russia; literally everywhere no matter if there’s a World War III or apocalypse. That’s how strong and stable the digital cash system is, having wealth that is stored safely and by you and you only.
The stats are proving the situation by itself, for the last nine years since cryptocurrency industry was created. All the altcoins including the top-ranked such as Ethereum, Litecoin, Ripple and etc. They all were influenced directly by Bitcoin itself where there is a clear dominance by the coin in the market and being as most of the ways to purchase other altcoins. Bitcoin also showed us how things can get scary and dirty when it fell from $32 to $2 and from $1,000 to $200 and more many times in the history but eventually always rising up and keep having huge influence and exposure to the world. The real revolution isn’t the price itself but the occupation of many corporations, companies and even small stores around the corner. Because the coin is used and accepted by everyone (no matter what the law says) as a currency, that’s how the revolution is made and changing the rules of the game. The power in this world belongs to the people equally, no centralized party should deprive this power of us. Bitcoin is bringing the power back to the average person and giving the power to the public, giving back their own rights.
Source: https://bitcointalk.org/index.php?topic=3139629.0
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While BTC is the top coin now (and probably will be for foreseeable future), it's still important to note it might not be the only coin that will succeed and have have widespread adoption. Specialization is important. That's why some altcoins still make sense even if they will never be the "top" coin.
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There is no doubt Bitcoin is still the top coin. It's worth the most and the name is synonymous with cryptocurrency.
In a few years, however, it may not be the most utilized/popular. It has its issues and compared to many coins out there, it's slower and doesn't have many advantages. But it has been around for so long and a lot of other coins/exchanges rely on it to be able to buy other currencies.
This year, things will be a bit slow for crypto it seems. There are so many new ICOs, tokens and ideas coming out. The market is just being saturated and will slowly start to climb back up as these lesser coins peak and die, while the actual good coins climb back up again. Bitcoin, Ethereum, Litecoin, etc will all slowly grow and the smaller coins that have potential will grow as it's competitors die out. I'm shooting for NEO and EOS myself. Vertcoin has potential to act like Litecoin and it has a good backing and people seem to really like that one. I'm mining that one as we speak :)
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Keep this up, Followed you for more :)
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