I gotta step in on this one, because there's a huge amount of people defending bitcoin.
Well at the technical level it's no the best currency in the market, there are other currency with way better tech out there, some created to scale where bitcoin can't, others bring true anonymous transactions, and so on... each one has it's own purpose, and a good bunch are better than bitcoin.
There's also a lot of shitcoin, i would say 90% of the crypto market is complete garbage, this makes bitcoin a safe bet compared with the overall options.
The main reason why bitcoin is still the reference coin in the crypto scene, it's because it's pretty much the father of all currencys, it's been around longer than any other, it's one of the few that can be exchanged to FIAT.
It's also the one used in all exchange pairs, so it's dominance has nothing to do with technology or quality and more to do with market adoptance.
From my perspective at this point i don't think bitcoin is any good at all, extremely volatile, speculation all over the place, it also eclipses a lot of good projects that are buried beneath the shitcoins and bitcoin, projects that actually have great future prospects and can innovate using blockchain.
It's a great coin for investors, traders and speculators, it's a crap coin in the real world. Seriously, no serious application is gonna use bitcoin as a payment the way it is now... it would be suicide to accept payments from something that devalues 20% in a single day.
But hey, you can sure make a lot of money from it
i'll give you that.
Well at the technical level it's no the best currency in the market, there are other currency with way better tech out there, some created to scale where bitcoin can't, others bring true anonymous transactions, and so on... each one has it's own purpose, and a good bunch are better than bitcoin.
There's also a lot of shitcoin, i would say 90% of the crypto market is complete garbage, this makes bitcoin a safe bet compared with the overall options.
The main reason why bitcoin is still the reference coin in the crypto scene, it's because it's pretty much the father of all currencys, it's been around longer than any other, it's one of the few that can be exchanged to FIAT.
It's also the one used in all exchange pairs, so it's dominance has nothing to do with technology or quality and more to do with market adoptance.
From my perspective at this point i don't think bitcoin is any good at all, extremely volatile, speculation all over the place, it also eclipses a lot of good projects that are buried beneath the shitcoins and bitcoin, projects that actually have great future prospects and can innovate using blockchain.
It's a great coin for investors, traders and speculators, it's a crap coin in the real world. Seriously, no serious application is gonna use bitcoin as a payment the way it is now... it would be suicide to accept payments from something that devalues 20% in a single day.
But hey, you can sure make a lot of money from it
i'll give you that.