What are the chances BTC is replaced by something better soon? - page 15.

kateycoin

full member

Activity: 882

Merit: 104

Quote from: Dr Bloggood on January 14, 2014, 06:51:35 AM

"Soon" would be in the next 1-3 years or so.

One of the biggest dangers for BTC is something more useful coming along and investors switching - a process which could happen extremely fast, once started.

So to all the tech savy people in here - what advantages could other cryptocurrencies bring that will give them a crucial edge over BTC, and how fast could something like that come along?

As of now no coin beating the popularity and price of bitcoin. And I know you can see that, bitcoin is so useful in everything we can use it as a payment and investment. So I think no chances that other coin will replace the bitcoin.

bitcointodayand

full member

Activity: 259

Merit: 100

I think the chance that bitcoits will be replaced by another coin is extremely small, because bitcoin is still king and dominates the entire market! Perhaps this will happen sooner or later, but I think it will be the birth of a new era!

devlincarter.868

newbie

Activity: 74

Merit: 0

We need a coin that anybody can obtain and easily,Now that most of online casinos and other business owners are starting to accept it, I don’t think they will accept new one soon, if ever there will be.

ShawnJessie

newbie

Activity: 70

Merit: 0

I just want to admit that there is no substitute of bitcoin and may be never will be also.

harrylucky67

newbie

Activity: 101

Merit: 0

Bitcoin is a clear example of the chicken and Egg riddle.Bitcoin will be remembered for being the pioneer in the field of open source p2p digital currency. But it's got its own problems. Another system will come along and solve these problems.

BlackRacerX

full member

Activity: 462

Merit: 102

Quote from: Dr Bloggood on January 14, 2014, 06:51:35 AM

"Soon" would be in the next 1-3 years or so.

One of the biggest dangers for BTC is something more useful coming along and investors switching - a process which could happen extremely fast, once started.

So to all the tech savy people in here - what advantages could other cryptocurrencies bring that will give them a crucial edge over BTC, and how fast could something like that come along?

My guess is that it is really high. Bitcoins are slowly being incapacitated by better competition. It is just that bitcoins are higher in price and has dominated the market ever since. An alt coin will probably take over the industry in around 7 years after the decline of bitcoins. Always be prepared for these kind of things.

billionaireSHS

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Activity: 269

Merit: 10

Decentralized Transportation Solution

I don't think so that there is something better that will replace bitcoin because as far as I know bitcoin is on top in crypto, but who knows? May be someday there is something better that will bitcoin, we didn't know but hopefully none.

Tommy len

newbie

Activity: 86

Merit: 0

Let's remember though that bitcoin is a payment system, and right now of any market it effectively has a "0%" market share. Visa and Mastercard do more in 5 minutes than bitcoin does in a year. So yeah, there is still a lot of time and room for another coin to be established in the future, challenge, and then smash bitcoin.

Kittygalore

member

Activity: 868

Merit: 63

Quote from: 5hoop5 on June 08, 2018, 10:59:07 AM

The price of Bitcoin is growing exponentially, and this will continue until 1BTC costs between $ 20,000 and $ 100,000. You can distinguish four stages of its development: fermentation, exponential growth, transition stage, plateau.

The chances of bitcoin being replaced in the number one spot by a better cryptocurrency is very high. After all bitcoin is mediocre at some points. But the problem is, it would not've replaced anytime soon. Not in the next ten years or so. Bitcoin is almost rooted to the number one spot for all we know.

DemiGodKaido

newbie

Activity: 27

Merit: 0

There is no assurance that the btc will be replaced but we never known what will the future bring so maybe sooner or later it will be replaced. Lets hope that that thing doesn’t happen cause there will be alot of adjustment needed to for us to be fully adopt to the new system

Aryadwipanggah

member

Activity: 350

Merit: 13

Until then maybe some altcoins become an alternative for investors to get quick profits like its a bitcoin

ggh0stt1

full member

Activity: 350

Merit: 103

Let's suppose the people have developed a good strong private cipher for new electronic currency implementation and managed to secure the source code of algorithms. It must be really good because the Secret Government have supercomputers and the best specialists with knowledge of cryptography which with combined attack can break the code (just like they broke the Enigma machine).
But this is not guaranteed that they are going to succeed in breaking the private cipher even with best minds and supercomputers. They will need some time that's for sure.

Worth a try. That's the future. The liberty of the people. Freedom of humanity.

Lamisa asfiya

member

Activity: 242

Merit: 10

I think BTC will soon be faster than some good conditions. Bitcoin transactions are still sluggish and safety measures are also not available in the public position. Bitcoin will improve these problems very soon.

nvt2511

newbie

Activity: 106

Merit: 0

Can definitely see this happening, BTC was the start, it's like thinking the Model T would be the only car to be used in the future because it was the first

davidsfam

newbie

Activity: 2

Merit: 0

The chances are close to 0 imo, but you never know what will happen. Almost everyone knows about Bitcoin now or at least has heard the word "Bitcoin".

cold beer

jr. member

Activity: 168

Merit: 1

There's got to at least 20 other altcoins that people consider better. I see bitcoin as near perfect in my opinion. The only problems with it are it's difficulty to obtain for the average person and mining pools, which no other altcoin seems to fix.

billknight

jr. member

Activity: 197

Merit: 1

Quote from: mehmehspazumweh on January 14, 2014, 07:01:02 AM

NXT will destroy all

NXT will never replace bitcoin. There are many other good coin NXT such as ADA, NEO, and ETH. In the future, it is likely that ETH will beat Bitcoin and become number one in the crypto market

5hoop5

member

Activity: 154

Merit: 10

The price of Bitcoin is growing exponentially, and this will continue until 1BTC costs between $ 20,000 and $ 100,000. You can distinguish four stages of its development: fermentation, exponential growth, transition stage, plateau.

Sumo

hero member

Activity: 1098

Merit: 500

No one can say for sure, but I hope that bitcoin will still remain the leader among crypto-currencies. It never ceases to evolve and improve, and it gives me hope.

Shtamm_oval

full member

Activity: 364

Merit: 100

Quote from: Dr Bloggood on January 14, 2014, 06:51:35 AM

"Soon" would be in the next 1-3 years or so.

One of the biggest dangers for BTC is something more useful coming along and investors switching - a process which could happen extremely fast, once started.

So to all the tech savy people in here - what advantages could other cryptocurrencies bring that will give them a crucial edge over BTC, and how fast could something like that come along?

They actually have more than that. If for example someone develops private cipher they would crack it by brute force in few seconds with supercomputers.

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