/bitcoin/ - Bitcoin

The Internet's Currency

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Questions that don't deserve their own thread sticky

Got a "Question that doesn't deserve their own thread" or just a subject too small in substance for its own thread? Reply to this post. Anything bitcoin related is game.

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/bitcoin/ meta

Welcome to /bitcoin/, the board for discussion about the world's first and most known cryptocurrency.

Current Rules for /bitcoin/, remember to use the 'Report' feature:

1.Follow the 9chan ToS.

2.No spamming, advertising, or referral links.

3.Duplicate threads will be deleted, unless the OP intent is for region-specific discussion or a thread in one language.

4.Non-BTC & BTC fork (i.e. BSV, BCH) discussion should be contained to one thread. Go to >>>/crypto/ to discuss BTC forks and other cryptocurrencies, >>>/bitc0in/ to discuss BSV.

5.No low effort posts - ask yourself if what you are writing is interesting or related to XBT at all.

"Once you’re in the crypto ecosystem, no one can ever take you out. It’s knowledge you possess forever."
Glossary of Bitcoin Terms:https://9chan.tw/bitcoin/glossary.html
How to Buy Bitcoin:https://9chan.tw/bitcoin/howtobuy.html
Satoshi Nakamoto:https://9chan.tw/bitcoin/satoshi.html

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Why is Bitcoin King?

Heavy lies the crown

There's an obvious answer here, Bitcoin is the longest standing censorship-resistant transaction netowrk with proven security and proven store-of-value in thousands of use cases all over the world. It provides currency to millions of people who have become a victim to their nations failing economy. Bitcoin's profile is so large that all altcoins follow BTC's movements; that's not a coincidence, people simply experiment with altcoins. Bitcoin is more useful and easier to exchange into FIAT with a larger footprint than any digital currency project on the market, and that's largely due to the anonymity that the original creator has retained and the trustless model of Bitcoin itself (see the whitepaper).

Remember that most other altcoins are forks of Bitcoin Core and unless you're discussing newer/experimental projects that use newer protocols, most altcoin projects (no matter what value you think it brings to the cryptosphere) have either a tiny network, poor developer support, or no max supply, which goes against the fundamental belief of what money should be.

In order to understand why bitcoin works better in the long-run over USD, here is the US's monetary system in a nutshell: https://youtu.be/iFDe5kUUyT0?t=81
In the video above, it explains that the value of US FIAT, USD, is dependent on debt, secured by America's infrastructure. The problem remains that money cannot be in unlimited supply, a point that the fed has made it clear they don't agree with: https://www.youtube.com/watch?v=JSmhJ5Ow8b4