Post
Topic
Board Bitcoin Discussion
Topic OP
Reason why Bitcoin will always lead other cryptocurrency
by
Yemson820
on 10/03/2023, 02:37:52 UTC
Bitcoin is the first cryptocurrency that has totally revolutionized the financial world. Its use and acceptance go beyond borders and is being used by thousands of people around the world as a way to pay online, purchase products and services, and as a way to send money. All of these things are currently being done with fiat currency – money backed by central banks. Bitcoin has much more value than just this - it can also be used to store value (e.g. your retirement funds) or an investment that makes you money in the future (e.g. stocks). This could make Bitcoin surpass other cryptocurrencies due to its inherent values of security, liquidity, volatility, inflationary risks and thus stability over time at a minimum rate of 5% per year since inception in 2009

Overall, Bitcoin provides a lot of additional value over other currencies. Firstly, it provides transparency and a history for each transaction, which is not possible with most altcoins. Secondly, it has an un-stoppable network effect: the more people use or know about Bitcoin, the more valuable it becomes! Thirdly, the lower supply of bitcoins means that higher prices are required to buy them and hold them. This creates scarcity and increases demand

Bitcoin is the original cryptocurrency. That alone gives it an advantage over other cryptocurrencies. Even if there are many other cryptocurrencies which have started following the footsteps of bitcoin, none of them are as successful as bitcoin was when it was released in 2009. The reason for this is the fact that Bitcoin is safe and secure and people trust it enough to use it just like they use dollars, euros or pounds.