Topic: could bitcoin be replaced by another crypto currency? - page 12. (Read 11974 times)

As of now i thinks bitcoins is irreplaceable ,because of its huge value now in exchange market. the value now of bitcoins runs approximately to $9000-$10000 compare to the other kinds of coins or altcoins.this is the highest pump in the history of bitcoins, since the first time that it was proposed in the blockchain market.

i do this question because i´ve read in this website issues with bitcoin, slow mining process, high fees, etc. and i´ve read too good reviews of some altcoins, ethereum (smart contracts), ripple (for transfers between banks), dash and nem. these altcoins called 2.0. could bitcoin become just in future virtual gold reserved to companies and rich people?

That won't be happening. Everything depends on the community. The better the community, the higher the value of a coin will be with better demands. Bitcoin has its own advantage as being the first crypto currency. We have a very strong community with just a little ups and downs. So no currency can take down bitcoin as long as the community stays strong.

i do this question because i´ve read in this website issues with bitcoin, slow mining process, high fees, etc. and i´ve read too good reviews of some altcoins, ethereum (smart contracts), ripple (for transfers between banks), dash and nem. these altcoins called 2.0. could bitcoin become just in future virtual gold reserved to companies and rich people?

Now, this is something already expected, especially, with bitcoin's success. However, BTC is dominant in its own industry, so it might be little difficult for other cryptocurrencies to best it.

The market capitalization of the bitcoin is really high and I believe that there is no altcoin that can surpassed the market capitalization of the bitcoin. Bitcoin will stay no.1 in the cryptocurrency world forever. 

IMO as long as bitcoin can avoid a catastrophic crash, it will remain the dominant cryptocurrency for having established itself as #1 so early in the game. Despite other coins having better features, bitcoin has the top spot in the consumers mind, like Coca-Cola. Not to say we won't have strong #2s and #3s - there will always be Pepsi, but it will be very difficult for any other coin to knock bitcoin from its throne. The mystery of Satoshi just adds to the allure of bitcoin. Stories are important.

A good example is the QWERTY keyboard. It's known to be slower and inefficient compared to other keyboard layouts (Dvorak and KALQ) but we're still using QWERTY and probably will for as long as keyboards exist. QWERTY got ahead in people's minds and no one cares enough to switch, so manufacturers continue making QWERTY keyboards. The same could be said for the internal combustion engine that was created in 1859 and is just now starting to lose popularity even though the electric motor came out first ^{https://en.wikipedia.org/wiki/Electric_motor}

When your Mom goes to her financial advisor and asks about investing in bitcoin, they're going to sell her bitcoin tried and true, and maybe some ether. Not some high risk alt. Coke and Pepsi.

Again, the crash would have to be so massive as to completely destroy people's trust in the system and scare off the hoard of people who would otherwise happily buy in at almost any level below where we are now, and even then, the resilience shown by the community in the past leads me to believe we could bring it back from anything short of the eventual heat death of the universe.

I don’t think so this is possible at all. We all know that other crypto currencies which are altcoins are strongly dependent on bitcoin for their dumps and pumps. These altcoins are all the time following the footprints of bitcoin in order to stay stable in the market. Even the leader of altcoins which is eth is again relaying on bitcoin for its market value. Bitcoin is the future of the crypto currencies and it is never ever going to be dead.

There is nothing ideal, and certainly at some point you will see much better and excellent cash than bitcoin. just waiting around time, perhaps a good coin and may substitute bitcoin is Ethereum and surf.

There is a possibility. However the probability of this ever happening is quite low.

In all of cryptocurrency's history, bitcoin has always been the number one crypto. Litecoin, Ethereum, Ripple have all come close but none have ever overtaken it. I believe that the reason this is the case even though you can see that Ethereum has more functionality, ripple is able to do interbank transactions and already have partners, and litecoin being cheaper in transaction fees and faster in blocks is that bitcoin has a reputation that no one else has.

All these altcoins are built on top of bitcoin's blockchain technology. Bitcoin was the first to implement it, it has a wider community etc. You barely can find one person that is involved in altcoins but not bitcoin. But you'll find lots that only believe in bitcoin, but not altcoins.

Often different project were getting into existence with varied accessibility features. But none were that solid as bitcoin in terms of growth. This gives me a belief that, however advancement take place bitcoin will lead the track and nothing is gonna replace bitcoin.

i do this question because i´ve read in this website issues with bitcoin, slow mining process, high fees, etc. and i´ve read too good reviews of some altcoins, ethereum (smart contracts), ripple (for transfers between banks), dash and nem. these altcoins called 2.0. could bitcoin become just in future virtual gold reserved to companies and rich people?