could bitcoin be replaced by another crypto currency? - page 27.

error08

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Quote from: EdenHazard on August 01, 2017, 07:37:08 PM

Quote from: Idrisu on August 01, 2017, 01:36:27 PM

I don't think bitcoin will be replace by another altcoin as many times bitcoin has proven to has no competitors. Most of the altcoins developers told us time without number that they systems were built on new ideas and information and the coin was developed to replace bitcoin but most of them has no significant value like bitcoin!

it is not something impossible to happened , as you may know recently there is a split happened unexpectedly in bitcoin causing there is an alternate coin called bitcoin cash which speculated could replaced the previous bitcoin as the biggest and most used crypto.

i don't want to speculating now, as it is too soon, but that is what people saying.

There are so many altcoins with various advantages and specific purpose, and we can assume the most famous cryptocurrecy are bitcoin and ethereum even though there are some altcoins that has higher price compare to eth. Bitcoin cash just launched and seems could get many attention from bitcoiners and will take the second place of highest price in the market. In my opinion, there is no way for any coins could compete with bitcoin, because the most important thing is usability, which bitcoin has achieved so far and being accepted by many people, business and exchanges.

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Quote from: wizardee on August 02, 2017, 03:37:14 AM

I don't think that bitcoin can be replaced by any other cyprtocurrency at this stage. We can see bitcoin cash rising a bit, but it will probably die out soon. The maximum I could see bitcoin cash in is as a great altcoin, such as ethereum. At this stage of the game, I wouldnt say that bitcoin needs to fear of any real competition. The future should be bright for bitcoin!

BTC got used to competition since Litecoin, and that never damaged the economy at large.
And that Bitcoin Cash incident rattled former persuations, there has been tons of unproductive hatred targetting against it. But it's still there, and imagine if just 10% of total hashrate would support it?
Ethereum is another beast, at least offers some perspective on technology evolution which is darely needed. Actually we need more experiments of the ETH sort, than BCH in my opinion.

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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.

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Quote from: chineseprancing on August 01, 2017, 06:48:03 PM

Quote from: HermanTheGerman on August 01, 2017, 02:52:47 PM

I think since Bitcoin was the first cryptocurrency it is also the most adopted one by retailers and shops. So due to this unique position I do not expect it to be replaced. However in the meantime there are a lot of other coins and tokens available out there which do a much better job and are much more appropriate for their specific purpose.

I agree with you it seems bitcoin had good position in crytocurrencies industry. However due to large volume of altcoins in crytocurrencies world we can't says if bitcoin hold their position for long time. Moreover, theirs a lot of developers who create newly coins, so maybe one day we see bitcoin fall down in their position.

Most of problems stated by the OP are now supposed to be solved after segwit, right? Thus, I think now there is even less chance that btc is going to be replaced, although it is true that some currencies are safer, cheaper and faster. And yet now btc has a very solid opponent which is the alternative btc aka bitcoin cash. It is gaining popularity and probably some will choose it for business projects rather than bitcoin. If I'm not mistaken, bch has 8mb block size whereas btc will have 2mb. I think it makes bch better in long-term perspective.

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Quote from: cafucafucafu on August 02, 2017, 04:32:36 AM

Quote from: jag1969 on June 11, 2017, 10:25:22 PM

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?

When I was new to Bitcoin, I also thought that bitcoin was the best cryptocurrency in the world and no other coins could beat it. But now after seeing so many new icos being released and so many other cryptos being successful, I realisedd something.

When you say "successful" what do you mean, exactly? That the ICO raised a lot of money? That the marketing pitch sounds really great, and you think the developers will build a great product someday?

Quote from: cafucafucafu on August 02, 2017, 04:32:36 AM

Bitcoin was the first to implement blockchain technology, but there are other coins that have even better tech and they also solve a lot of Bitcoins problems which are mostly related to transaction times and fees.

When you say that they solve Bitcoin's problems, they have not been tested at scale. Time will tell. Bitcoin is being built to be robust, and that's why it performs so well today, whether there is network congestion or not.

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Quote from: jag1969 on June 11, 2017, 10:25:22 PM

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?

When I was new to Bitcoin, I also thought that bitcoin was the best cryptocurrency in the world and no other coins could beat it. But now after seeing so many new icos being released and so many other cryptos being successful, I realisedd something.

Bitcoin was the first to implement blockchain technology, but there are other coins that have even better tech and they also solve a lot of Bitcoins problems which are mostly related to transaction times and fees.

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Quote from: jag1969 on June 11, 2017, 10:25:22 PM

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?

About the issue of bitcoin to its high fee that cant be the reason to be beat by other crypto currency. Bitcoin still ahead from altcoin because it has so many advantages compare to other currency.

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Quote from: rouhaud on August 02, 2017, 03:41:47 AM

it's very possible but i don't see it happens soon.
It's still the first door to the cryptoworld.
For that to be accomplished, platform like coinbase will need to add more crypto directly buyable with fiat.

Beyond that, the problem is that big money tends to flow towards more stable assets, even within the risky world of cryptocurrency. Naturally, that means Bitcoin. Also, regardless of what features are coded into various altcoins today, most if not all of those features can be integrated into Bitcoin (at least via drivechains, sidechains, etc). Bitcoin moves slower: that's a feature, not a bug. Wink

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Quote from: Kersh768 on August 02, 2017, 03:07:30 AM

Quote from: jag1969 on June 11, 2017, 10:25:22 PM

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?

Ofcourse, it is inevitable. There is a possibility that Bitcoin will be replaced by other cryptocurrency because they all depend on the market's demand. If more people will choose other Crypto other than Btc it will because it is more benefitiary and has bigger value than BTC's. The only reason why Bitcoin remained as the no. 1 crypto is because it has a big community that makes it more in demand.

At present there are several other digital currencies that are highly profiting as well provides a bigger profiting. This is all because of the coin being developed to fulfill specific functions. In real time if replacing is possible, right now some digital currency could have overcome bitcoin in terms of volume and value.

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Quote from: wizardee on August 02, 2017, 03:37:14 AM

I don't think that bitcoin can be replaced by any other cyprtocurrency at this stage. We can see bitcoin cash rising a bit, but it will probably die out soon. The maximum I could see bitcoin cash in is as a great altcoin, such as ethereum. At this stage of the game, I wouldnt say that bitcoin needs to fear of any real competition. The future should be bright for bitcoin!

Competition keeps moving until whenever and bitcoin will still excel because the total volume, I think ethereum is the closest competitor, but depending on whether they are able to govern with a smart co. No sign will be overtaken but bitcoin competitors continue to develop their systems.

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it's very possible but i don't see it happens soon.
It's still the first door to the cryptoworld.
For that to be accomplished, platform like coinbase will need to add more crypto directly buyable with fiat.

wizardee

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I don't think that bitcoin can be replaced by any other cyprtocurrency at this stage. We can see bitcoin cash rising a bit, but it will probably die out soon. The maximum I could see bitcoin cash in is as a great altcoin, such as ethereum. At this stage of the game, I wouldnt say that bitcoin needs to fear of any real competition. The future should be bright for bitcoin!

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Quote from: jag1969 on June 11, 2017, 10:25:22 PM

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?

Ofcourse, it is inevitable. There is a possibility that Bitcoin will be replaced by other cryptocurrency because they all depend on the market's demand. If more people will choose other Crypto other than Btc it will because it is more benefitiary and has bigger value than BTC's. The only reason why Bitcoin remained as the no. 1 crypto is because it has a big community that makes it more in demand.

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Quote from: Idrisu on August 01, 2017, 01:36:27 PM

I don't think bitcoin will be replace by another altcoin as many times bitcoin has proven to has no competitors. Most of the altcoins developers told us time without number that they systems were built on new ideas and information and the coin was developed to replace bitcoin but most of them has no significant value like bitcoin!

it is not something impossible to happened , as you may know recently there is a split happened unexpectedly in bitcoin causing there is an alternate coin called bitcoin cash which speculated could replaced the previous bitcoin as the biggest and most used crypto.

i don't want to speculating now, as it is too soon, but that is what people saying.

chineseprancing

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Quote from: HermanTheGerman on August 01, 2017, 02:52:47 PM

I think since Bitcoin was the first cryptocurrency it is also the most adopted one by retailers and shops. So due to this unique position I do not expect it to be replaced. However in the meantime there are a lot of other coins and tokens available out there which do a much better job and are much more appropriate for their specific purpose.

I agree with you it seems bitcoin had good position in crytocurrencies industry. However due to large volume of altcoins in crytocurrencies world we can't says if bitcoin hold their position for long time. Moreover, theirs a lot of developers who create newly coins, so maybe one day we see bitcoin fall down in their position.

phr0stbyt3

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It can one day there will a coin which will replace bitcoin many including thought that would be ether but sadly ether had lost it's market too it can be the one coin to replace bitcoin but in long run dash looks like it will be replacing bitcoin in future getting accepted in apple store is the biggest news every

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Is unlikely to happen, because bitcoin is most successful cryptocoin with most number of users and transaction volume than other cryptocoin.

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I think since Bitcoin was the first cryptocurrency it is also the most adopted one by retailers and shops. So due to this unique position I do not expect it to be replaced. However in the meantime there are a lot of other coins and tokens available out there which do a much better job and are much more appropriate for their specific purpose.

grermezter

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There is always the possibility of that happening, i mean even though bitcoin is the first crypto currency, people were interested in virtual currency before bitcoin gained the ascendancy, and its going to be a matter of time when people will find another crypto currency that can give them even much more profits that bitcoin. People will always go where the money is.

Lampaster

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Bitcoin now as ever closer to official recognition by governments. At this point nobody will allow the bitcoin ceased to exist. In fact, it is not profitable even for altcoins. Any coins which are separate from bitcoin are scams and will die even before they are born.

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