Topic: Can other cryptocurrency ovetake bitcoin inthe future? - page 3. (Read 4798 times)

Litecoin vs Gulden is going to be a interesting race for the silver spot over the next few years. Guldens development team might be the best in crypto if you look at what they bringing in for their 1.6.0 release, it must be making a lot of coins nervous.


https://developer.gulden.com/

Get rich quick with grabbing the people money through ico.

All of them was chain fork.

What always surprises me is that new altcoins start new block chains, instead of forking off bitcoin.
Of course, in as much as altcoins are meant to profit from the initial seigniorage, that's understandable, but given that one of the main difficulties of a cryptocurrency is the fairness of its initial distribution, and that bitcoin has, because of its origins, one of the better initial distributions, it would seem to me that when creating a new altcoin, instead of starting a new block chain with all the hassle of trying, again, to obtain a fair "initial distribution", using bitcoin's distribution at a certain point (the forking block, eventually in the past) solves this issue way way better than "doing it over again".

If that's the case, altcoins are just "alternative bitcoins" and one cannot really say that they "overtake" it.  They would simply be forks of the same original chain.

The fork could be entirely radical, with different emission schemes, different mining, different rules: the only thing that is taken over from bitcoin is the initial distribution at the moment of forking.  One could even eliminate Satoshi's stash if that's considered a potential problem.

Nobody has done this as far as I know, and I don't know why (except for the obvious reason that this doesn't allow for an initial scammy premine or ninjamine).  the boundaries between "bitcoin" and "altcoins" would be much more blurred then.  All bitcoin holders (in the past) would then automatically become new coin holders too, which would create an initial community much larger than what one could hope with a new chain.   For the fairness and the quality of the new coin, I cannot think of a better way to start it than fork it off bitcoin, but I never saw this happening.

Only a huge company in my opinion can create a coin as huge as bitcoin,if a company has a ready merchants and community it's possible that they can overtake bitcoin.

Well, its money, who does not like it?  But not all developer are doing nothing with their project.  It is that  they are just overshadowed by the achievement of bitcoin in terms of adoption.  But just you wait, there will be one altcoin that will contest it or even overtake its position, there are several candidate at this point.  And will have more in the future.

Exactly. Only comitment: get rich quick

If you may, you can argue with this,


No matter how strong the position of one thing, it is always susceptible to change.  For now, yes Bitcoin is very strong and maybe it will have another decade to stay in the top position, but as time pass and technology move forward, there will be one new created crypto currency that will overtake bitcoin.  So better take advantage of it while it is trending. 

In my opinion it is not possible for any old or new cryptocurrency to make Bitcoin useless or overtake the Bitcoin Because the main reason behind this is that every new currency depends upon the Bitcoin rate and its price also so not easy for anyone to overtake Bitcoin .

If we are talking about now, My answer is no! there are no other currency at the present time now that can overtake bitcoin, it will be a miles away before that happen it will years or decades I think. Like most member in this forum said majority of the altcoins are like zombies.

here's hoping its the one i'm developing

That will be left in the hands of the developers to get their priorities straight whether that is their objective or just to create "something" which will not stand the test of time only for them to finish the ICO then make some bucks and bolt no support nor campaign nothing. How will that even stand close to Bitcoin not to talk of overtaking?

THE bitcoin is like gold in the times of the Middle Ages. Today you do not see more people shopping in gold but in FIAT currency. So we'll see in a few years the bitcoin will be held in a safe a altcoins will be used for shopping.
Which Altcoin? i don't know maybe the next one

yeah but most people also don't like to wait, incur excessive risk or extra work for the same result. There's still some constraints before it can branch out into mass adoption, which need to be addressed before main countries start rolling out their digital currency. Otherwise people will just go for the simplest/"safest"/known solution, since it'll operate (almost) exactly as fiat currencies do now electronically.
Also USD is the currency of the internet, followed by most other fiat currencies. Bitcoin exchange volume is still very low in comparison (although the current volume is already an achievement)

Bitcoin will remain the currency f the internet no matter what. The government may come up with their own centralized attempts to make a cryptocurrency mainstream while remaining in total control of it all, but the internet is the wild wild west and people don't like to be controlled, therefore bitcoin will remain the decentralized freedom gateway for life.

Bitcoin is safe for the next 5 years at least as number 1. The real alternative mainstream currency race will be between litecoin and Gulden. This is where the action will be especially if your investing in Gulden for long term.

Gulden for Europe and Litecoin for China as it stands.

I don't include anon or assets in the mix.

I think no, BTC will remain the benchmark all the coins even in a future.but prices will probably be in excess of BTC in the future. There's my opinion..

No! I beg to disagreed into it. Because bitcoin nowadays will not be gone forever especially the price value of it is continue increasing by now and everyday the investors increasing too together with the user also.

well bitcoin did take a couple of years before catching on. Trust takes a bit of time, specially when most aren't useful or have problems like you say

That thing is not gonna happen even in the future. They cant even come close to btc. And we know most of altcoin is just a shitcoin. Maybe some are trusting on those popular alts but not like the trust they are giving to btc.

There are already some alternatives it seems.
For example, with the one i'm currently developing, transactions will be confirmed and published within seconds (doesn't have to wait for our "block-equivalent"). It uses different mechanisms for validating transactions (no PoS/PoW) so the validation work is more balanced and less redundant, increasing the overall transaction throughput of the network.
Also, the nodes are made to be abstracted from the general users so they don't actually need participate with the network (unless they want to) or store/synchronize all that extra unnecessary information.

It's called Unified Digital Currency (UDC) and the whitepaper is already available.
Announcement thread: https://bitcointalksearch.org/topic/udc-unified-digital-currency-a-digital-currency-for-unifying-global-commerce-1666899