Topic: could bitcoin be replaced by another crypto currency? - page 3. (Read 11965 times)
maybe the etherium will replace bitcoin, because it has a cheaper and faster transaction
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?
Slow transactions and high volatility are undermining his trust and people are already thinking that bitcoin is not that good. Who does not have it at once can buy cheaper alts and rejoice. 
Yes, Bitcoin has some disadvantages, but it is historically the first and best crypto currency. I do not think that another alternative coin will be able to replace Bitcoin. Although anything can happen and it is difficult to make any predictions.
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?
I think it could be bitcoin replaced with other crypto currency, especially if other crypto currency is better than bitcoin. However, for now the prima donna in the crypto world is bitcoin, since bitcoin is the oldest crypto currency and invests heavily in bitcoin, but someday maybe people will switch to other crypto currencies if better than bitcoin.
Although Bitcoin is the first cryptocurrency, it does not mean that it will be the ultimate “winner” when confronted with newer technology.
However some things in its favour are:
-bitcoin is the original digital asset which makes it valuable
-there is no leader and therefore no way to stop or change the rules on it
-Bitcoin can be upgraded, meaning that any functionality that has been proven on an altcoin can eventually be added to Bitcoin
-bitcoin is in space, meaning that anyone with a computer and satellite dish can participate in it- doesn't rely on internet
-it has the most developers contributing to bitcoin - 3 times more than the second largest cryptocurrency
-so far bitcoin has survived 9 years and continues to grow
However some things in its favour are:
-bitcoin is the original digital asset which makes it valuable
-there is no leader and therefore no way to stop or change the rules on it
-Bitcoin can be upgraded, meaning that any functionality that has been proven on an altcoin can eventually be added to Bitcoin
-bitcoin is in space, meaning that anyone with a computer and satellite dish can participate in it- doesn't rely on internet
-it has the most developers contributing to bitcoin - 3 times more than the second largest cryptocurrency
-so far bitcoin has survived 9 years and continues to grow
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 be replaced by other because network can be busy fast.some altcoins like Ripple and Ether can replace bitcoin easy.
bitcoin can keep it’s first place investment way.
I think that the etherium has already replaced bitcoin, not by price but by activity, it is used more often than bitcoin.
Many currencies changed their forms from time to time. Some currencies get replaced by new currencies over period of time. Bitcoin is the first digital currency introduced in 2009. Many altcoin also get introduced over a period of time following bitcoin`s footsteps. Bitcoin is a decentralized and most volatile currency, due to this it is difficult for countries to trace bitcoin users, and many countries are banning bitcoin currency for security reasons. In this situation Altcoins can be a good substitute for biotin currency. Ethereum is a quite popular cryptocurrency. It may overtake bitcoin currency in 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?
I think right now there are new cryptos that people developing this time to replace bitcoin but I don't think that it can erase bitcoin in the market because people are used to bitcoin and they trust bitcoin other than altcoins out there so it might be hard for other altcoins to bring down bitcoins especially right now.
Bitcoin won't remain king forever. The only question is when not if.
The probability of this is very low to a uncertain to happen kind ot thing, because bitcoin is the very first crypto ever created into the dates back to 2009 and it's impossible to overrun bitcoin if you are the second crypto created and there's just so much people investing to bitcoin so it's very impossible.
If we look at the unique facts, then the coins are likely to beat the bitcoin at this time there are some that is Ripple, Ethereum and bitcoin cash. Ethereum has risen rapidly over the past year and we can see the data in coinmarketcap.
So yes it is possible that other coin will replace bitcoin. But that would be not so soon considering that bitcoin price is far from other coins price. And it is the most trusted and sought after digital currency. But yes it is possible that it will be replaced by other coin in the future.
It is quite possible. And if I remember correctly, a couple of times Bitcoin came close to being replaced as the no.1 crypto-currency. I still remember how ETH threatened the dominant position of Bitcoin in mid-2017. Only a few billion USD in market cap separated Bitcoin from Ethereum then. But after that ETH lost value. And a few weeks back, something similar happened, this time between XRP and BTC.
Honestly when we have noticed specially the coinmarket cap,all altcoins were behind of bitcoins which is probably true.That's why i can say that no one can replace bitcoin because of it's highest value that dominant of all altcoins.And i know this is the reality that's why I'm very impressed of bitcoin,for how many years that no one of altcoins list can replaced for bitcoins value price.
If we look at the unique facts, then the coins are likely to beat the bitcoin at this time there are some that is Ripple, Ethereum and bitcoin cash. Ethereum has risen rapidly over the past year and we can see the data in coinmarketcap.
it's hard to predict if bitcoin will stay #1 cryptocurrency for the next years but I guess ethereum will make faster gains this year in terms of marketcap making them very close to each other.
And as some others already mentioned it will take time for other cryptos to develope and establish and by that time bitcoin will also make steps in dev and publicity
And as some others already mentioned it will take time for other cryptos to develope and establish and by that time bitcoin will also make steps in dev and publicity
The current difference between bitcoin and Ethereum is about 47% when, a year ago the difference was more than 500%, that means Ethereum showed a significant increase and the chance to beat bitcoin.
It's possible but it require some time since bitcoin are the first and in order to take the first place, they need extra trust and extra advantage so it can compare on bitcoin. It's only a matter of time since many people start build their own advantage to be the best cryptocurrency that ever exist
I agree that it takes time before a something like an other form of crypto currency to established a new form of currency on a specific type of transactions and in the platform of trading. I think most of people want to trust a trusted cryptocurreny like Bitcoin rather to start a new one so it definitely need time for people to have or consider another cryptocurreny to replaced Bitcoin.
As of today no altcoin can replace bitcoin most of the people only know about bitcoin and half of them knows that there are altcoins, we use bitcoin yo trade so as long as we keep using bitcoin then it will ever be replaced it will always be number one not unless if we the community of bitcoin will decide that bitcoin is no longer useable and look for another coin.
I predict that crypto can replace Bitcoin in the future, it is definitely Ethereum, as this crypto overcomes many of the disadvantages Bitcoin is facing. In addition, all of the existing altcoins on the trading floor have a network of links to Ethereum, so transaction fees will be cheaper than Bitcoin trading. I hope ETH will replace Bitcoin as the # 1 currency in the market.
Bitcoin is actually a cryptocurrency in my knowledges so the other cryptocurrency which want to replace it have to be very potiental, have solutions for what bitcoin is missing to replace it. Jump to: