Quote from: Phu Juck on April 19, 2025, 02:32:36 PM

Bitcoin is such a good coin because it has good code

Bitcoin's code is so good because it is simple and solid. It was released by Satoshi Nakamoto and in its original form, Bitcoin is supposed to survive from its code alone. We do not need to change its code because it is simply a good code and it's well reviewed.

Bitcoin has SegWit to lower transaction fees

SegWit offers us compared to Legacy or nested SegWit really low transaction fees and it will reduce our costs paid for transaction fees a lot.
SegWit transactions are simply smaller in size compared to legacy transactions because all witness data (signatures) is separated from transaction data. As a result, we get a lower fee per transaction vbyte.

Bitcoin’s SegWit offers increased Block Capacity

Bitcoin has a limit of transactions in terms of transaction size for each Block: a limited number of transactions can only be fitted into each Bitcoin block, limiting Bitcoin’s capacity in terms of transaction size per new block.
SegWit allows more transactions to be fitted into each block. By separating all witness data, SegWit effectively decreases size limits for each transaction and effectively increases Bitcoin’s block size limit, which helps to process more transactions per block.
So, SegWit actively helps to reduce congestion in Bitcoin’s mempool.

Overall, using SegWit addresses will help us to reduce transaction costs, have a better network performance and future-proofing for additional improvements and features for Bitcoin.

Reasons for and against Pos vs. PoW

Quite contrary to PoS, PoW is very hard or almost impossible to compromise. Not so for PoS, where more attack vectors can be found.

For example, PoS can be abused by rich stakers. Many PoS projects have a so-called pre-mining of coins allocated to the team and the team can abuse such pre-mined coins to gain influence about project decisions.
A large pre-mine is making a project centralized in many ways and devs can gain much influence by staking a large amount of PoS coins.
PoW is not having such issues.

A similar problem is called "nothing at stake", where attackers benefit from no cost to stake ETH or similar PoS coins. Should a fork occur, no matter if the fork is a friendly, accidental or a malicious attempt to rewrite history and reverse transactions, it’s a given strategy for any staker to stake on every chain. By doing so, he will get a reward no matter which fork will succeed and he will have no additional cost to do so.
In PoW, such a problem is not happening because PoW always means work (spending electricity) needs to be done. A cost occurs for every miner and he can’t mine on multiple chains because mining of a different chain means an extra cost.

Bitcoin is well reviewed

When Bitcoin was invented, it was set up to be a big security. Hacks should be impossible and get prevented by good code. Bitcoin attracted and still has a very large community of really educated developers.
Bitcoin has a very reliable coder community, where flaws will be detected early before implementation and no risks are being taken. Many much smaller coins have a very flawed code review process.
A large and educated coder community reviewing code during testing times is an important advantage for Bitcoin.

And luckily, it saves us from possible hacks, when hackers are prevented from detecting flaws faster because all flaws are removed before implementation.
We have seen so many hacks, where a flawed code was exploited and people lost money, like for Altcoin cross chain bridges recently or when Terra Luna failed.
Still, people are buying coins from unreliable coders like Tron from Justin Sun or even weaker DeFi coins like Acala Stablecoin from Polkadot’s supplier Web 3.
Unfortunately, some people will only learn after a loss.

Some coins are very centralized and have a single point of failure like Solana, when it was down several times or devs have much power like in Binance Coin or Tron.
And DeFi coins can easily print some more coins / tokens into existence.
Bitcoin is having a big advantage here.

Bitcoin has PoW

It is big controversy for a long time, if a coin makes PoW or PoS, like it was for Ethereum [ETH]. Not for Bitcoin because Bitcoin developers have decided PoW is best because of security. From what Experts have said so far, PoW is very hard or almost impossible to compromise instead of PoS, where more attack vectors can be found. Like Corona, we should trust majority of experts who have education and experience in an issue. Satoshi implemented PoW not PoS because Satoshi knew. He was very experienced and called it right.
PoS can be abused by rich stakers and makes a project centralized in many ways like premined coins and devs can create much influence by staking a large amount of PoS coins. PoW is not having such issues.

Security is Bitcoin’s priority

As for a safe cryptocurrency, security standards are very important. First point, we need security standards and Satoshi implemented it right himself, when he developed Bitcoin. Early Bitcoin developers added more security standards. Second point is after some time, to NOT remove such security standards. First point and especially second point are relevant to many Altcoins, which is a big issue for Altcoins.
Many Altcoins don’t offer anymore to create private and public keys to prove ownership of funds and access it. It is very concerning and seems mind blowing to many experienced coders.
For example, when creating a Solana wallet or similar new Altcoins. Altcoin developers are not focusing on security.
Or even MEW is bitching around more and more every time going away by implementing insecure patches. We need to have our private key offline.
Many Altcoins are leaving people vulnerable which is very concerning.
Bitcoin is better like Electrum for example. Its design is not so nice but Electrum is good tech and recommended by many experts.

Bitcoin is still having very high security standards today because of Bitcoin does not want to build a hype coin, Bitcoin wants to build a safe coin.
It is our duty to select a safe coin instead of an unsafe hype coin.

Bitcoin is often called the "Mother Currency." It’s not controlled by anyone. If it were, People would be afraid to trust it.

Another important point is that Bitcoin has a limited supply, What exists now is all there will ever be. There's no possibility of increasing it.

Bitcoin is also considered the currency of the future, Which is why it’s the best and safest crypto coin. For long-term holding, Bitcoin will always be my first choice.

Rony121

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