Hello Steemians, today I will present my fourth post about the 5th challenge "I love bitcoin" to celebrate Bitcoin's twelfth anniversary . In which i invite you to take a look behind the reasons that distinguish Bitcoin from other cryptocurrencies and make the title of king of cryptocurrencies reserved for it?

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Why is Bitcoin the first and also the most famous cryptocurrency?

All other crypto-currencies are more or less strong copies. In the long run, a single cryptocurrency will prevail for a particular application.

The network effect: if many people use a certain solution together, they would lose many contacts on the network if they switched to another solution. This is why there is hardly any other social network other than Facebook that works the same way as Facebook. Twitter works differently and that is why it can prevail alongside Facebook.

At first, it is often not clear which solution will prevail. It's not the best, it's the most popular solution.

Popularity : At the moment, Bitcoin is clearly the most popular solution. It has the highest market capitalization of all cryptocurrencies(represents 60% of the cryptocurrency stock market). In the long run, Bitcoin will likely prevail against all other cryptocurrencies that are just a copy of Bitcoin. Bitcoin is quite simply the first and most famous cryptocurrency.

The playing field for cryptocurrencies is vast. Thousands of offers compete for interested parties. I'm afraid that around 99% of the cryptocurrencies in circulation today will not exist in 10 years. In addition to Bitcoin, cryptocurrencies that cover a special niche, such as B. Namecoin, which offers blockchain-based name resolution.

Bitcoin itself is changing. Last years, a complex optimization was introduced to the blockchain (Segregated Witness) amid big disputes. This shows me that blockchain solutions are not static. In the medium term, I therefore expect fierce competition between the different blockchains. Zcash, for example, could lose in a few years if Bitcoin finds a way to implement true anonymity in transactions. Other cryptocurrencies are also focusing on faster transactions, if the Bitcoin Lightning Network wins.

This shows that at this time it is impossible to predict in the long term which cryptocurrencies will stay with us. We don't know what the individual cryptocurrency communities will do.

But I think Bitcoin will remain the main cryptocurrency.

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Summary comparison:

Bitcoin is the original cryptocurrency as far as everyone knows, but Bitcoin is much more as well.

• You need Bitcoin (usually) to buy other cryptocurrencies
  

• About 95% of other cryptocurrencies are exchanged for Bitcoin (pairings: BTC / ETH, BTC / LTC etc.)
  

• Bitcoin is considered the safe haven in crypto crises.
  

• Acceptance: Bitcoin is accepted directly in many stores etc, only a few others like Litecoin can follow here.
  

• Bitcoin (and the different versions of it) are represented by influential pools and lobbies that are less common with new currencies.
  

• Bitcoin is widely known, hardly anything else.
  

VS

Altcoins are much less resilient and often promising technologies, only at a very early stage and very much driven by the hype, so rather risky in the long run.

In the case of Altcoins (other cryptocurrencies), the “owners”, “major shareholders” and inventors are generally known, with Bitcoin everything is pretty veiled.

The models and purposes are different for all cryptocurrencies, only a few function as virtual currency due to the lack of acceptance.

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