Topic: could bitcoin be replaced by another crypto currency? - page 33. (Read 11957 times)
Bitcoin can be replaced by a stronger cryptocurrency. Nothing in this world is permanent and so it bitcoin. If in the future there will be a coin that can overcome the weakness of bitcoin, it may take the crown as no.1 crypto.
This is possible bitcoin replace by another crypto currency. As ethereum is also leading top in the market and many people also invest in ethereum. Theres a possibility though, depends on its massive adoption by traders.
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?
For me it is very impossible that bitcoin can be replaced by another cryptocurrency. Bitcoin is really powerful and it is continuing to gain more power. No altcoins can stand up and can replace the bitcoin. Also many people prefer the btc than the altcoin.
I think ETH - Ethereum is a great candidate to replace Bitcoin, it is gaining a huge / massive pump these days, also Bitcoin must face some future problems as hard fork into two different approaches due to the block size limit.
Recently certain users have started to believe that bitcoin is going down as few altcoins grew higher. Bitcoin getting by some other altcoins is same like bitcoin replacing the traditional fiat. Fiat on an outline make us think with the growth bitcoin might go mainstream, but that won't happen anytime.
It's already replaced with other coins to some extent but that don't require to entirely abondon bitcoin.
The fate of bitcoin lies not on a single entity, and for it to fail or succeed, a joint effort must be exerted. That is how a decentralized currency works. Right now, what we are seeing are issues popping out and people who are starting to question whether bitcoin can hold onto its position as the primary crypto currency. Bitcoin, in terms of development, is still years ahead of the other altcoins, but if this progress gets stalled by more issues, then bitcoin could face stiffer competition very soon.
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?
Once that altcoins 2.0 you are talking about will become in-demand the same way that bitcoin is currently experiencing, there will be high fees and slow confirmation time too. The hype for those altcoins 2.0 is just for profit purpose and not as general usage.
Once bitcoin will replaced, expect some downfall of those 2.0. No way all bitcoin users will just transfer to another crypto even it has a good price. Bitcoin after big success still crash? No dount it can happened also to other altcoins.
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?
For me it is very impossible that bitcoin can be replaced by another cryptocurrency. Bitcoin is really powerful and it is continuing to gain more power. No altcoins can stand up and can replace the bitcoin. Also many people prefer the btc than the altcoin.
It is possible, bitcoin existence is based on the users as long as there are a ot of user then bitcoin cant be replaced but when people dont want to used it then bitcoin will become no value, but for now bitcoin has set a strong foundation, it has been recognized by many countries and a lot of shop already accepting bitcoin, so it will be hard to replace bitcoin
In the near future is not possible. Bitcoin is the most famous cryptocurrency in the world and he can't come to a comparable U.S. dollar amounts. All altcoins things worse. Soon altcoins will disappear and there will be only 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?
I don't think any alt coins are going to overthrow bitcoin's commanding lead in the next few years... maybe way down the line, but not any time soon. Bitcoin has both momentum and, most important of all, more trust than any of the other alt coins. Its age and wide recognition make it more trust-worthy to investors, which is more important than being a superior currency. Alt coins are seen today as gambles, because that is what they are - speculative investors trying to get rich quick by buying random coins that might blow up by random chance. Bitcoin, while still seen as an extremely speculative investment, is much more recognizable and seen as more acceptable.
The one thing that I think could cause bitcoin to fall and another crypto to take the #1 spot is if there were some technical problem discovered with bitcoin.
First and for most bitcoin cannot be replace by some other existing coins around we can see how people supporting bitcoin, though there are lots of concerns now about fees and slow transaction process. Bitcoin cannot replace by those pump and dump coins out of nowhere. Bitcoin is very strong at the moment, if you do not mind there were lots of coins who really tries to make bitcoin die but they cannot, bitcoin still standing and growing fast.
It may happen sometime in future but not now. There is a problem of fees and transaction in bitcoin. But that not gonna harm a lot at present. Bitcoin is number one choice for anybody entering the cryptocurrency world. Bitcoin has became a synonym for cryptocurrency. People get to know about virtual currencies through bitcoin. So, I would say that bitcoin will retain its top position for now.
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?
There is really no demand for these sort of things. They may sound useful on paper but in practice they little extra to the table that can't already be done with centralized applications and contracts. There are a lot of limitations to what smart contracts can do, and the ethereum network is experiencing congestion as well just like the btc network and probably will worsen as time goes on.
Bitcoin as the first cryptocurrency will never be replaced. Altcoins can come close like they did right now but will never do it. There is just too much sentiment in traders. They're only familiar with BTC pairs, not familiar with ETH pairs even though polo and other exchanges have them as they generate very little volume.
It may be possible because bitcoin is the only one but when other cryptocurrency is build maybe just maybe. But bitcoin is very useful especially with the people who don't have work to support themselves. Even if it have one who compete with bitcoin as a cryptocurrency yes it's possible
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 be possible.
If enough hype is generated around Ethereum, then it's quite easy actually for them to surpass bitcoin in market capitalization. However should market capitalization really be a mesaure of how successful a coin is, or whether it is the #1 crypto or not? I think not. Even though EThereum is currently very close to bitcoin, people still don't know it. Maybe 1% of people on earth know about bitcoin but only 20% of people who know bitcoin knowns about Ethereum. I find it hard to even find info on how to install and use ethereum apps. It's confusing af.
And even if ethereum surpasses bitcoin, it'll be short term. Bitcoin will definitely make a comeback.
Yeah, i think the only benefit Bitcoin has, is the fact that it is the first one. Other than that, it becomes almost useless. Etherium is used for smart contracts, but it can also be used just like Bitcoin, for payments. And let's not even talk about the absolutely enormous BTC transaction fees. Sure if you transfer $1000+ they are not that high, but imagine you would like to use BTC in a store and buy a loaf of bread and you end up paying $1+ in fees...
Bottom line is, i think there are way better coins than Bitcoins, each in their own field of usage. If you want anonymity, go with Monero, you want some smart contracts and platforms? Choose Etherium, Stratis, Lisk, .... You want Youtube like service on the blockchain? Take a look at LBRY. Sports betting? Check out Wagerr ICO.
Bottom line is, i think there are way better coins than Bitcoins, each in their own field of usage. If you want anonymity, go with Monero, you want some smart contracts and platforms? Choose Etherium, Stratis, Lisk, .... You want Youtube like service on the blockchain? Take a look at LBRY. Sports betting? Check out Wagerr ICO.
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 could. If the fork does not go well in August, which i doubt, then Ethereum has a real chance to catch up. It's already within nearly 10 billion in market cap which may sound like a lot but really a $150-200 price increase of ethereum will easily exceed bitcoin.
The main problem with altcoins in my opinion is ICOs. Devs are trying to monetize their coin, having the rewards before anything has even been released to the public. This is unlike bitcoin which is built from scratch, never had any ICO, early adopters didn't know that bitcoin was going to take off etc.
Even if bitcoin gets exceeded in market cap by another altcoin, i really wouldn't call it being "replaced". Take for example, fiat and gold. Fiat obviously has a larger "market cap" than gold, but gold's status is unmatched.
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?
Actually, those features you listed there are something that beholds the eye which might move bitcoin to the background considering the current technological development they possesses but at the same time, I see most of these projects complementing each other rather than replacing them, the block chain that backs bitcoin is another fundamental infrastructure useful to a large extent and that several organisation are equally adopting this alone might create a fixed number of years before it can be changed into another software.
Jump to: