Bitcoin's alternative. - page 2. | Bitcointalksearch.org

davis196

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Quote from: nizamcc on August 30, 2016, 01:15:31 AM

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

People here ask the same question over and over again.

What if some altcoin becomes more popular that bitcoin?

I would say "great".It`s a market economy,it`s a honest competition.If some altcoin beats bitcoin,it

probably will have more and better advantages than bitcoin,which is better for us.

vero

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a natural thing monero supporters say it as it may also ethreum supporters would say the same thing but the fact altcoin will never be able to take position of bitcoin.

X-ray

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Quote from: zoave.com on August 30, 2016, 07:00:19 AM

Bitcoin is the best cryptocurrency at the moment and I don't see any altcoin that is better nowadays. But the alternatives to bitcoin are litecoin and dogecoin that can be a secondary option.

so many alternate coin out there having so much feature than bitcoin and to be honest i do say that the features is quite helpful but still can't compete with the bitcoin if it's about the popularity,it's not about better or what else,it's about which one gets first attention
and for secondary option of cryptocurrency i would prefer litecoin which having quite stable price

xuan87

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yes there is always a possibilities that bitcoin is going to be replace by other alt coin, but for now its difficult to beat bitcoin, bitcoin is more famous nad being used more than any other crypto currency, so its going to need time and a lot of effort to promote other coin to beat down bitcoin

zoave.com

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Bitcoin is the best cryptocurrency at the moment and I don't see any altcoin that is better nowadays. But the alternatives to bitcoin are litecoin and dogecoin that can be a secondary option.

deisik

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Quote from: NorrisK on August 30, 2016, 03:13:46 AM

Bitcoin may have gotten very slow and stale, but atleast it is stable and working for now (transactions are becoming a problem though, it is getting slower and more expensive to send stuff through).

The main issue with such approach is that it may turn out that when the moment arrives (to copy some unique and superior features from a certain coin), the ship has already sailed and it might be too late to change anything. The history is full of stories when now defunct businesses failed to adapt in due time and got competed out of existence by more agile companies...

Could the same thing happen to Bitcoin? I think it is quite possible

Script3d

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Quote from: nizamcc on August 30, 2016, 01:15:31 AM

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

if your looking for bitcoin alternative with the same price as bitcoin but there no other altcoin that have this price but there is a potential altcoin that might reach this price try to look altcoin that doesnt have on trading

NorrisK

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Quote from: pawel7777 on August 30, 2016, 03:06:55 AM

Quote from: nizamcc on August 30, 2016, 01:15:31 AM

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

The best argument I heard in the past was, that when certain altcoin gains a lot of popularity because of its unique, superior features, then you could just implement such features in Bitcoin.

But after seeing Bitcoin devs not being able to agree on something as trivial as blocksize increase, many no longer see the above argument as viable option.

The same will happen to these altcoins if they reach the status and market use that bitcoin has managed to acquire.

When the coins have small market caps and little users, the only transactions being back and forth to exchanges, ofcourse it is easy to implement new features. But if these coins reach multi billion dollar market caps, coins being used for all kinds of different things, this changes also for them. More people will be involved with more different opinions, fear of fuck ups like the ethereum chain split after hardfork, etc.

Bitcoin may have gotten very slow and stale, but atleast it is stable and working for now (transactions are becoming a problem though, it is getting slower and more expensive to send stuff through).

pawel7777

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Quote from: nizamcc on August 30, 2016, 01:15:31 AM

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

The best argument I heard in the past was, that when certain altcoin gains a lot of popularity because of its unique, superior features, then you could just implement such features in Bitcoin.

But after seeing Bitcoin devs not being able to agree on something as trivial as blocksize increase, many no longer see the above argument as viable option.

deisik

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Quote from: nizamcc on August 30, 2016, 01:15:31 AM

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

I think nothing out of the ordinary will happen. If some coin does make it to the top (which is still a big if), Bitcoin will lose its grasp on the cryptocoins market it now has and will become just one of many other altcoins that have been floating around for some time now...

Lites, doges have been there (here) for years already

entrepmind23

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Quote from: nizamcc on August 30, 2016, 01:15:31 AM

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

I don't think so for now that there is an altcoin that can take place of bitcoin. Bitcoin is getting popular by the day and it has so many uses like you can already buy something with it compared to altcoin that has little value for now and cannot be an alternative payment for fiat because no one is accepting it yet. Maybe when that time comes that an altcoin will take place bitcoin then bitcoin may still be use because its already popular and that altcoin will be use by people also and they will both exist. Bitcoin will not disappear in the market but instead there would be some kind of competition for the two coins.

Doms

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I think it wouldn't be that easy for an altcoin to replace bitcoin altogether. Bitcoin will stay as the primary crypto currency there is around for as long as there's support and transactions happening on a daily basis. We have seen altcoins come and go, while bitcoin remain strong and looks great because of strong fundamentals.

NeuroticFish

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Quote from: damiano on August 30, 2016, 02:20:43 AM

Monero is only added to one darknet site that will end up going down and killing monero anyway. Just your everyday pump to the moon before the exit scam that will happen and leave happy bagholders. I don't really look far into any coin taking over Bitcoin, because I don't believe it lol

I tend to disagree.
While altcoins cannot replace Bitcoin, some have they use in the real world and can coexist very good with Bitcoin.
It's a tiny niche which will never really threaten Bitcoin, but it's there.

In the case you said, Monero is fit for that job and I think that it has its future in that; it's the niche for Monero.
It will kill Monero? Maybe, but I don't see how. Maybe governments will ban it, but I don't see how and why, it's a rather small market.

damiano

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Monero is only added to one darknet site that will end up going down and killing monero anyway. Just your everyday pump to the moon before the exit scam that will happen and leave happy bagholders. I don't really look far into any coin taking over Bitcoin, because I don't believe it lol

OmegaStarScream

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It's impossible for any altcoin to replace Bitcoin , at least not the for moment. Bitcoin is still being developed and there is more to come so It's too early to say that another coin is better just because of what you mentioned.
Only coins I see around the web are Litecoin , Dogecoin , Dash (none of them are comparable with Bitcoin of course) so anything else isn't considered as a valid alternative as they are not used in shops or anywhere , they are just being traded , people wants to become rich while It's not the real purpose of using a cryptocurrency.

severaldetails

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Quote from: NeuroticFish on August 30, 2016, 01:56:09 AM

While there is a chance that an altcoin could take bitcoin's place, that chance is very small in the near future.

Yes, bitcoin has some possible problems: block times are big (would you use Mastercard if you'd have to wait 20 minutes to confirm your payment?), past flood tests shown that the network cannot handle well a huge spike in the number of the transactions (one reason being the pools that sometimes don't include as many transactions as they should, another reason the block size).
Bitcoin is, unlike people thought at first, not fully anonymous.

I know for sure (99%) that Dogecoin has much better block times.
I know for sure (99%) that Monero and other coins are anonymous.
These are things that give them an edge.

But neither of them have the strong network Bitcoin has. Dogecoin even experienced the fear of 51% attack; luckily it didn't happen.
There's no altcoin with the strength Bitcoin has. And while this holds true, there's no alternative to bitcoin.

We share the same opinion.
The infra structure that has grown in the bitcoin system will not be achieved by any other coin.
It is bitcoins greatest strength.
There is simply no need to have a paralell payment system, so nobody will put up that much effort to install it.
All those altcoins out there are just something for traders.
And compared to the large amount of normal bitcoin users, the traders just make a small group.

romero121

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Right now no digital currency has the potential to overcome bitcoin and take its place. As described by few users monero, dogecoin and all will be a competitor for bitcoin but replacing won't happen as the user profile of bitcoin is quite increasing than any other currencies compared to other digital currencies with the rising potential.

NeuroticFish

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Quote from: nizamcc on August 30, 2016, 01:15:31 AM

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

While there is a chance that an altcoin could take bitcoin's place, that chance is very small in the near future.

Yes, bitcoin has some possible problems: block times are big (would you use Mastercard if you'd have to wait 20 minutes to confirm your payment?), past flood tests shown that the network cannot handle well a huge spike in the number of the transactions (one reason being the pools that sometimes don't include as many transactions as they should, another reason the block size).
Bitcoin is, unlike people thought at first, not fully anonymous.

I know for sure (99%) that Dogecoin has much better block times.
I know for sure (99%) that Monero and other coins are anonymous.
These are things that give them an edge.

But neither of them have the strong network Bitcoin has. Dogecoin even experienced the fear of 51% attack; luckily it didn't happen.
There's no altcoin with the strength Bitcoin has. And while this holds true, there's no alternative to bitcoin.

groll

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I cannot think of any alternative crytocurrency to bitcoin as of now. Bitcoin is the first and the most sought after digital currency in the market today. Even the trading of other digital currencies were based on the price of bitcoin. I just think that if ever bitcoin will be dead then so the other cryptos because bitcoin is its foundation.

Velkro

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Quote from: nizamcc on August 30, 2016, 01:15:31 AM

Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

I would have effect on bitcoin, but its impossible. Bitcoin is backed by strongest computing power in the world. U can't beat that, new currency would need to have huge advantages which bitcoin cannot adopt.

So its impossible.

Topic: Bitcoin's alternative. - page 2. (Read 1741 times)