We need an altcoin with lots of market cap.
Even litecoin can't replace bitcoin, the rest is nowhere close.
Topic: Altcoin that will one day replaces bitcoin - page 2. (Read 2631 times)
If a cryptocurrency will overtake Bitcoin, it will have two attributes:
- An extremely significant advantage. Bigger and different from what any current competing alt has.
- The advantage must be inherently something that the existing Bitcoin infrastructure will resist implementing, likely due to disadvantage to current holders, miners, etc.
What will this advantage be? I have no idea. In my opinion, however, these do not meet the criteria:
- Faster transactions
- Lower cost transactions
- More transaction volume
- Alternative to proof of work
- Anonymity
You can already be relatively certain a TX will confirm and will be resistant to a double spend in a matter of seconds with bitcoin, speeding the time it takes to get one confirmation will not change this and will actually make it take longer to know if your TX will actually make it onto the "final" blockchain- An extremely significant advantage. Bigger and different from what any current competing alt has.
- The advantage must be inherently something that the existing Bitcoin infrastructure will resist implementing, likely due to disadvantage to current holders, miners, etc.
What will this advantage be? I have no idea. In my opinion, however, these do not meet the criteria:
- Faster transactions
- Lower cost transactions
- More transaction volume
- Alternative to proof of work
- Anonymity
I think $.04 is already a very low cost to send a TX. Any lower then that will not be economically meaningful.
The protocol can easily be adjusted when it is necessary to have more TXs per second.
PoW is the best way to mine right now, and any mining method must spend some level of resources otherwise miners have no reason to be honest.
Bitcoin has anonymity.
What will this advantage be? I have no idea. In my opinion, however, these do not meet the criteria:
- Faster transactions
- Lower cost transactions
- More transaction volume
- Alternative to proof of work
- Anonymity
- Faster transactions
- Lower cost transactions
- More transaction volume
- Alternative to proof of work
- Anonymity
You just listed 5 serious flaws of Bitcoin...
And then claimed that eliminating these problems is not an "advantage". Hmmmmm.
In the last 3-4 months BTC market share has dropped from 95% to high 80s...
That decline will start accelerating exponetially...
Bitcoin is well on it's way to becoming a crypto "reserve currency" not unlike gold...
But it's not clear what will blow by BTC...
Whether it's something from the Gen 2.0 platforms or the "perfect" Alt.
By perfect Alt I'm not saying "best"...
The design element that succeeds on the net is "viral"...
Both Twitter and Bitcoin are basically crap that succeeded because "designed to be viral".
The blockchain would still be obscure if it was not attached to a viral cryptocurrency.
The Alt that blows by everyone will have a new "viral" element...
It could be the 750% stake of HYP (which is working) or something else...
*** So, actually, the guy I quoted is right ***
http://www.gwern.net/Bitcoin%20is%20Worse%20is%20Better
So if there is any flaws or changes that are worth the change IT WILL change
if there is really a far superior alt coin, by all means i will adopt it quickly. Why wait for bitcoin to change?
if there is really a far superior alt coin, by all means i will adopt it quickly. Why wait for bitcoin to change?
Yes, but the likelihood of a far superior alt coin appearing is zero. Every alt coin with some different feature from Bitcoin has some problems with that feature. Nothing can be said is clearly avantage over Bitcoin without adding new problems.
I don't see this happen, i think Litecoin will raise because its dependend on Bitcoin [if bitcoin raises litecoin raises] and Litecoin can become a good worth coin IF bitcoin does too [already is, but i mean more then currently].
Why would you replace something with something that does the same thing, Bitcoin is not like GOLD it can morph , change, adjust and be programmed. So if there is any flaws or changes that are worth the change IT WILL change.
Too much time, money , power and people are involved here. They will not push it to the side for something else which bitcoin can also be.
Too much time, money , power and people are involved here. They will not push it to the side for something else which bitcoin can also be.
Why would you replace something with something that does the same thing
A new altcoin with far better technologies is not considered replacing something with something that does the same thing. They are both crypto but one performs better than the other
Bitcoin is not like GOLD it can morph , change, adjust and be programmed.
Can somebody do something about the transaction confirmation time? It slow compared to most of the alts
So if there is any flaws or changes that are worth the change IT WILL change
if there is really a far superior alt coin, by all means i will adopt it quickly. Why wait for bitcoin to change?
If a cryptocurrency will overtake Bitcoin, it will have two attributes:
- An extremely significant advantage. Bigger and different from what any current competing alt has.
- The advantage must be inherently something that the existing Bitcoin infrastructure will resist implementing, likely due to disadvantage to current holders, miners, etc.
What will this advantage be? I have no idea. In my opinion, however, these do not meet the criteria:
- Faster transactions
- Lower cost transactions
- More transaction volume
- Alternative to proof of work
- Anonymity
- An extremely significant advantage. Bigger and different from what any current competing alt has.
- The advantage must be inherently something that the existing Bitcoin infrastructure will resist implementing, likely due to disadvantage to current holders, miners, etc.
What will this advantage be? I have no idea. In my opinion, however, these do not meet the criteria:
- Faster transactions
- Lower cost transactions
- More transaction volume
- Alternative to proof of work
- Anonymity
I don't have an answer to that but looking at all the other alt coins i would say none have come close
In order to take the No 1 spot, that coin would have to be something that can solve all current btc weaknesses and with new technology. Probably fresh new codes. Only few coins that is not based entirely on btc codes like monero, ripple but i don't think that could change.
Well the possibility is there that someday that there will be one revolutionary coin that will dislogde btc spot
Your views?
In order to take the No 1 spot, that coin would have to be something that can solve all current btc weaknesses and with new technology. Probably fresh new codes. Only few coins that is not based entirely on btc codes like monero, ripple but i don't think that could change.
Well the possibility is there that someday that there will be one revolutionary coin that will dislogde btc spot
Your views?
So far I've yet to see any altcoin that can replace bitcoin. Not saying there aren't innovative alt currencies, seems like a majority of them are just vehicles to obtain more btc. Maybe in the future btc will be replaced but I can't see it happening for a while now at least.
Why would you replace something with something that does the same thing, Bitcoin is not like GOLD it can morph , change, adjust and be programmed. So if there is any flaws or changes that are worth the change IT WILL change.
Too much time, money , power and people are involved here. They will not push it to the side for something else which bitcoin can also be.
Too much time, money , power and people are involved here. They will not push it to the side for something else which bitcoin can also be.
bitcoin is not the problem
its the sheeple following prices of bots and mysql database entries on crappy exchanges that limit whale buyins due to amlkyc..
if you look at localbitcoins which is $70 higher. they and places like bitcoin-otc are where the true value lays, as you cant bot trade localbitcoins.
localbitcoins is true bank account fiat <-> bitcoin. no mysql in the middle to fake numbers
bitcoins dont kill the economy, sheeple do!
its the sheeple following prices of bots and mysql database entries on crappy exchanges that limit whale buyins due to amlkyc..
if you look at localbitcoins which is $70 higher. they and places like bitcoin-otc are where the true value lays, as you cant bot trade localbitcoins.
localbitcoins is true bank account fiat <-> bitcoin. no mysql in the middle to fake numbers
bitcoins dont kill the economy, sheeple do!
Nearly impossible unless bitcoin encounters fatal problems. Bitcoin is number one cryptocurrency and as a middle of exchange. The volume of every cryptocurrency are calculated as BTC.
I don't have an answer to that but looking at all the other alt coins i would say none have come close
In order to take the No 1 spot, that coin would have to be something that can solve all current btc weaknesses and with new technology. Probably fresh new codes. Only few coins that is not based entirely on btc codes like monero, ripple but i don't think that could change.
Well the possibility is there that someday that there will be one revolutionary coin that will dislogde btc spot
Your views?
In order to take the No 1 spot, that coin would have to be something that can solve all current btc weaknesses and with new technology. Probably fresh new codes. Only few coins that is not based entirely on btc codes like monero, ripple but i don't think that could change.
Well the possibility is there that someday that there will be one revolutionary coin that will dislogde btc spot
Your views?
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