Topic: could bitcoin be replaced by another crypto currency? - page 28. (Read 11957 times)
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!
Nothing is impossible, of course it is possible if any altcoin would meet the users demand like bitcoin and can have some extra features which bitcoin doesn't have. But this need a lot of time to make it possible.
Of course very likely, this is because more and more found weaknesses of bitcoin, this becomes an opportunity for other crypto currency to beat bitcoin.
I don't think any cryptocurrency available out there can replace Bitcoin as Bitcoin is the most popular cryptocurrency out there which also make it the most acceptable as well as stable crypto. It would take more than 30 years for any crypto to replace crypto.
that's not gonna happen at least for now.. I see no other cryptocurrency can replace or match the position of bitcoin in terms of popularity and public acceptance of cryptocurrency.
Time will tell..
Yes, even ethereum which is at the second position in terms of market capital is far behind bitcoin in terms of popularity and acceptance by the online websites or marketplaces. Time will tell..
There are definitely issues with bitcoin, especially as it gets larger. However it is unlikely we will a replacement any time soon. It would require a major overhaul of the whole crypto community including exchanges. I just don't see that happening.
There are issues but the devs are trying to do something and resolve it for better usage and attraction for new investors. I really don't see that bitcoin will be replaced by another crypto currency, it's closed opponent which is ETH is going now at PoS and not all are agreed with it. Bitcoin will remain the number 1 crypto.
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's true that some altcoins like Eth and ripple are coming up too fast compared to other coins, but I am sure that it will not be an easy job to replace a 43 billion USD strong coin anytime soon. Bitcoin is the pioneer of the crypto currency and hence it enjoys maximum public trust and also the highest market cap.
Probably in future bitcoin will be replaced by any other crypto currency, but I don't see that coming very soon. Not at least before 2023, till the time bitcoin is mine-able. But it is a good time to invest in ETH as the potential is really huge for this coin.
There are definitely issues with bitcoin, especially as it gets larger. However it is unlikely we will a replacement any time soon. It would require a major overhaul of the whole crypto community including exchanges. I just don't see that happening.
It's hilarious to see all the arguments like "Bitcoin is big, so it can't be replaced".
As if no major company (say, Blackberry), have been replaced by a shinier brand in the future.
As if no major company (say, Blackberry), have been replaced by a shinier brand in the future.
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?
Bitcoin can not be replaced, what do you mean with the mining process is slow? Mining the blocks is slow? It's not bad.
The fees are getting back to normal, at the moment it is recommended 40 satoshis per byte or 0.0004 per 1kb which means 0.0001 per a simple transaction with one input like months before.
Bitcoin can be useless but not replaced with another coin, it can happen that another coin like dash/eth can have a larger community and being used more but bitcoin can't be replaced.
Of course!
Throughout history, most large empires have fallen.
If most large empires have fallen only to be replaced by another, why couldn't Bitcoin suffer the same fate?
Now, do we want this to happen? That is a whole different question altogether. I guess it depends how much Ethereum you own! haha
Throughout history, most large empires have fallen.
If most large empires have fallen only to be replaced by another, why couldn't Bitcoin suffer the same fate?
Now, do we want this to happen? That is a whole different question altogether. I guess it depends how much Ethereum you own! haha
Bitcoin is a crypto currency number one. No other currency will not be able to replace it. You can say anything on this, but look at the price chart. Problems with the fall in the price of bitcoin has hit all cryptocurrencies. It says on their dependencies.
that's not gonna happen at least for now.. I see no other cryptocurrency can replace or match the position of bitcoin in terms of popularity and public acceptance of cryptocurrency.
Time will tell..
Yes, even ethereum which is at the second position in terms of market capital is far behind bitcoin in terms of popularity and acceptance by the online websites or marketplaces. Time will tell..
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.
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.
With this analogy, it looks possible for the other cryptocurrencies to replace and surpass Bitcoin especially with the better advantages that they offer. The other cryptocurrencies may not be as popular as Bitcoin but just like Blackberry, Samsung and Apple, they started out that way. The future of Bitcoin would depend on its strength as a currency, and like Nokia it may continue to be recognized as strong throughout the years or it may meet its downfall and end.
that's not gonna happen at least for now.. I see no other cryptocurrency can replace or match the position of bitcoin in terms of popularity and public acceptance of cryptocurrency.
Time will tell..
Time will tell..
Bitcoin got a big advantage by being the first cryptocurrency. It is still the most used and most well known.
However, it is possible that over time, another one will take over. It's also possible that several cryptocurrencies can be successful at the same time. Bitcoin could be used for large transactions and other altcoins with lower fees could be used for smaller transactions.
The advantage you said is the biggest thing,because before that no one has thought about having a digital currency,except for a few with flaws,but bitcoin just came out with a bang and will rule the crypto world in the future,if bitcoin developers are able to make necessary changes in due time i do not think that any currency will take over bitcoin,However, it is possible that over time, another one will take over. It's also possible that several cryptocurrencies can be successful at the same time. Bitcoin could be used for large transactions and other altcoins with lower fees could be used for smaller transactions.
Reading all these posts making me feel that bitcoin can be a looser in the future. Is that the reason now a days bitcoin fluctuates so much? Is the mining getting too difficult for people around the world. I'm relating all these answer to that scenario, feeling like I'm right about it. Bitcoin if doesn't get enough miners and if its network difficulty keeps increasing then it might go down very soon. Never thought about bitcoin in that sense. Hope we don't see anything like this in the future. Because I'm making plans to invest in bitcoin rather than altcoins.
Bitcoin got a big advantage by being the first cryptocurrency. It is still the most used and most well known.
However, it is possible that over time, another one will take over. It's also possible that several cryptocurrencies can be successful at the same time. Bitcoin could be used for large transactions and other altcoins with lower fees could be used for smaller transactions.
The advantage you said is the biggest thing,because before that no one has thought about having a digital currency,except for a few with flaws,but bitcoin just came out with a bang and will rule the crypto world in the future,if bitcoin developers are able to make necessary changes in due time i do not think that any currency will take over bitcoin,However, it is possible that over time, another one will take over. It's also possible that several cryptocurrencies can be successful at the same time. Bitcoin could be used for large transactions and other altcoins with lower fees could be used for smaller transactions.
Bitcoin got a big advantage by being the first cryptocurrency. It is still the most used and most well known.
However, it is possible that over time, another one will take over. It's also possible that several cryptocurrencies can be successful at the same time. Bitcoin could be used for large transactions and other altcoins with lower fees could be used for smaller transactions.
The advantage you said is the biggest thing,because before that no one has thought about having a digital currency,except for a few with flaws,but bitcoin just came out with a bang and will rule the crypto world in the future,if bitcoin developers are able to make necessary changes in due time i do not think that any currency will take over bitcoin, However, it is possible that over time, another one will take over. It's also possible that several cryptocurrencies can be successful at the same time. Bitcoin could be used for large transactions and other altcoins with lower fees could be used for smaller transactions.
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?
Bitcoin got a big advantage by being the first cryptocurrency. It is still the most used and most well known.
However, it is possible that over time, another one will take over. It's also possible that several cryptocurrencies can be successful at the same time. Bitcoin could be used for large transactions and other altcoins with lower fees could be used for smaller transactions.
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