Quote from: Sophokles on October 15, 2023, 05:55:43 PM

Quote from: legendbtc on October 15, 2023, 04:57:41 AM

Bitcoin's dominance in the market will never go away as it is the only decentralized currency with the best security. Bitcoin's dominance will only be shaken or replaced unless there is a coin with superior features to bitcoin. Otherwise, bitcoin will forever be the king of the cryptocurrency industry. As for current altcoins, they are a centralized mess, and were created for the purpose of pumping and dumping, they do not bring any practical utility or application to us. None of them are qualified to challenge bitcoin's throne.

New blockchains are offering better features than bitcoin. Some of them even have lower but faster transaction cost. They are lacking one essential elements which is decentralization. Most other blockchains are centralized or semi centralized so their price can not create much appeal for investors to put money into them. Bitcoin dominance is not content. It also goes ups and downs like bitcoins price so we can not say bitcoin dominance will never go down.

Lower transaction fees, and faster transaction speeds, what does that mean? Have you ever heard of bitcoin's blockchain being hacked or experiencing a power outage? But that often happens with blockchains that you think are superior to bitcoin.

Decentralization is the deciding factor in the quality and value of cryptocurrencies. If altcoins don't have them, they're nothing more than a pile of garbage created for purposes other than bringing us real solutions. As I see it, altcoins are just used for hype and pump and dump rather than actually providing truly useful utilities like bitcoin.