Topic: could bitcoin be replaced by another crypto currency? - page 26. (Read 11957 times)
Yes time can only tell this. But for now bitcoin is so strong that nothing can defeat it in all aspects. Yeah there are some issues that needed to be resolve but altcoins have also some issues. Therefore, there is no perfect coin in this world so stop comparing each other. As time passes by many will try to take over the place of bitcoin and there'a nothing we can do about it but to just wait and watch if this coin will survive or die slowly.
i think there is a possibility in the future because in line with technological advancement early stages (bitcoins technology) will become part of the latest technology (other cryptocurrency).
At first I thought it was impossible for Bitcoin to be replaced since it is the first cryptocurrency, but you are right, some altcoins may have better features than Bitcoin and people may prefer them instead.
Here's an analogy, lets imagine all cryptocurrencies are like mobile phones. Bitcoin is Nokia, and started the mobile phone trend. And soon after everyone started using Nokia. But brands like Blackberry, Samsung and Apple soon created their own phones, and Apple made a major breakthrough with a touchscreen function, where everyone gradually switched to that after a while, and now Nokia is outdated.
Bitcoin has our trust now, but other cryptocurrencies might overtake BTC in the future.
,i like the example....well we all know that as time passes by people keep on finding ways to improve certain things or to improve daily living, and if it is possible they wanted to make short cuts.. this could also be applied in bitcoin, maybe someday another cryptocurrency will outplayed the role of bitcoin, who knows. Here's an analogy, lets imagine all cryptocurrencies are like mobile phones. Bitcoin is Nokia, and started the mobile phone trend. And soon after everyone started using Nokia. But brands like Blackberry, Samsung and Apple soon created their own phones, and Apple made a major breakthrough with a touchscreen function, where everyone gradually switched to that after a while, and now Nokia is outdated.
Bitcoin has our trust now, but other cryptocurrencies might overtake BTC in the future.
Of course maybe, there are currently more than 1000 coins and I'm sure there will be coins that can replace bitcoin, NXT, Byteball or Waves are coins that have the opportunity to replace bitcoin.
Until today I always thought that Bitcoin's position as the top cryptocurrency will be unthreatened forever.
But forever is a strong word, Chinese miners decided that they want to grab even more money and forked bitcoin,
effectively creating altcoin from 'nothing' and now this coin is threatening to unbalance the whole bitcoin ecosystem.
But forever is a strong word, Chinese miners decided that they want to grab even more money and forked bitcoin,
effectively creating altcoin from 'nothing' and now this coin is threatening to unbalance the whole bitcoin ecosystem.
It's really good question to discuss. We all know that many people prefers bitcoin because it is old, known and trusted. But there are something which people don't like as time goes, for example high transaction fees and low block size. But people trust to bitcoin so much, it's currently hard to beat btc. Maybe in future there will be 1 good altcoin, better than bitcoin which will gain more trust and popularity, really hard to discuss but I am optimist on bitcoin and I think it will be always as first in cryptocurrencies as google is first in search engines.
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?
It may happen, but usually the altcoins that mentions you have concrete segments, while the bitcoin is just like money. Ethereum and IOTA may be replacing the Bitcoin one day, who knows.
Bitcoin occupies the top position in the world of crypto currency and no one will ever be able to replace. He will always be №1 currency. If you ever crypto currency will be legalized the first thing will be to legalize bitcoin.
Well for now I can't really accept with some other people who believe bitcoin will be replaced or other coin will be value more than bitcoin. The splits just happen and we can see that the effects of Bitcoin cash on Bitcoin is insignificant at the moment, though time shall tell.
Though difficult but I'm sure there will be coins that can replace bitcoin, I'm sure that someday there will be a country that will make coins and legalized so that it can be used en masse country and it is likely to beat bitcoin.
There is a chance if the cryptocurrency is good like bitcoin or even better than bitcoin like for now, there is a threat which is the bitcoin cash and it is now taking all the people's attention and its price is slowly moving up and that is a threat for bitcoin because the demand might diverse and it will go into bitcoin cash instead of bitcoin and that can replace bitcoin anytime.
yes no doubt that chance is always there but i think if we study and analysis bitcoin with other altcoin, then we can come to the conclusion that it is not so easy for any altcoin to overcome bitcoin, because bitcoin is becoming more and more stronger from time to time. 
Yes, in theory this is possible. Why not? But in practice there were many claims from the devs of different cryptos that they are better than bitcoin. Time passed and there's still no other currency which can replace BTC, although right now many believe it could be Bitcoin Cash. I'm not from them, I stick with bitcoin.
This is the perfect time to answer this question,we are expecting another fork this year by November and we might be having three split coins ,now we have bitcoin cash and bitcoin segwit and the third one will be SegWit2x ,that is what i am expecting ,so i am not sure these things will hurt bitcoin in the long or short term but that is the direction in which we are going right now.
There is a chance if the cryptocurrency is good like bitcoin or even better than bitcoin like for now, there is a threat which is the bitcoin cash and it is now taking all the people's attention and its price is slowly moving up and that is a threat for bitcoin because the demand might diverse and it will go into bitcoin cash instead of bitcoin and that can replace bitcoin anytime.
I don't see that imminent but yes, that could be possible in future times. As of now I don't see any competitor of bitcoin in any way but in future times, when bitcoin will not be mined, that is very much possible.
ETH is the closest competitor to bitcoin as per the market cap but not as per the price. However, I won't be surprised if ETH takes over bitcoin in long run. Bitcoin is minable till 2023. After that, ETH or any other coin with cutting-edge technology can take over bitcoin. It is not impossible.
ETH is the closest competitor to bitcoin as per the market cap but not as per the price. However, I won't be surprised if ETH takes over bitcoin in long run. Bitcoin is minable till 2023. After that, ETH or any other coin with cutting-edge technology can take over bitcoin. It is not impossible.
Doubt my patience could last till 2023, that's six years into the future counting moar like dog years.
A small uncertainity remains, since mining didn't done us well around August 1st ... as can be seen.
Maybe another distribution approach pops up that washes away all former approaches?
There's the lever that competition should get hands on.
I think that bitcoin can be replaced by another crypto currency. Someone can develop a better currency and it will gain more momentum than bitcoin. I do not see any decent options yet.
Yes, in theory this is possible. Why not? But in practice there were many claims from the devs of different cryptos that they are better than bitcoin. Time passed and there's still no other currency which can replace BTC, although right now many believe it could be Bitcoin Cash. I'm not from them, I stick with bitcoin.
I don't find any other crypto currency to replace bitcoin in future as its adoption rate among people is up and moreover it is trending day by day. Additionally I don't found any other crypto that can withstand against it so there's no chance of its replacement.
Today,its very hard to find an altcoin which has the potential to replace bitcoin.High transaction fee problem has been almost solved by segwit implementation.At first,ethereum was considered as the best competitor but due to hard fork,it got split into ETH and ETC and it failed to deliver the expected results.Monero and zcash too were expected since they provided full anonymity while bitcoin was just pseudo anonymous,but they too failed to compete with bitcoin.
In our world nothing is eternal and impossible. When a mother gives birth to a child he lived for a long time with her, and then they separated and each has its own life. Maybe it will happen with bitcoin. You need to wait and we will see which of these coins would be more progressive.
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?
Well in my opinion, It is quite hard to get the trust factor which bitcoin has, Bitcoin has the first in the market advantage, Even thou better altcoins do exist, Each coin has its pros and cons. Think of it as Samsung vs All the Chinese Android Mobiles, Even thou they perform better in some cases but the end consumer still prefers the Samsung, why? its because they have the trust factor behind them of creating quality products, So is the case with Bitcoin, Bitcoin is Samsung and all these Altcoins are Chinese variants of bitcoins, Unless they make a revolutionary breakthrough which bitcoin can't adopt, Like an Apple IOS, Bitcoin Will always be the king of Cryptocurrency.
I don't see that imminent but yes, that could be possible in future times. As of now I don't see any competitor of bitcoin in any way but in future times, when bitcoin will not be mined, that is very much possible.
ETH is the closest competitor to bitcoin as per the market cap but not as per the price. However, I won't be surprised if ETH takes over bitcoin in long run. Bitcoin is minable till 2023. After that, ETH or any other coin with cutting-edge technology can take over bitcoin. It is not impossible.
ETH is the closest competitor to bitcoin as per the market cap but not as per the price. However, I won't be surprised if ETH takes over bitcoin in long run. Bitcoin is minable till 2023. After that, ETH or any other coin with cutting-edge technology can take over bitcoin. It is not impossible.
Jump to: