Topic: what if bitcoin becomes inferior (Read 656 times)

When someone says that the price can go Down , I Accept it , it is within expectations, now if the expectations are that the maximum will be reached at this time in 2023, or by 2024 or the end of 2024, I could not say that things are going well as they should. be, but I am sure that when I talk about many things and ways of seeing this, you can think that most of us think that Bitcoin can even Reach $50k from everything that has been seen, it is good and valid that the opposite happens, It is something that we can all see coming , but I don't see that there is another way to look at this , it may go Down , but I don't think it will be that  much.

the valuation of this technology will be determined in the years to come if some people are still not believing that this tech has value already in the market. there is corresponding value already and yet many people don't believe in this tech. well, it is not a loss for those users who are already in here.

Don't worry Mikko Hyyppönen won't let that happen. He claimed to me to be part of the Bitcoin inner circle along with all the cypherpunks like Nick Szabo etc. Unfortunately this entire forum is run by people who wish to keep his involvement a secret as well as the rest of the cypherpunks who secretly run this forum.

Change never stops! Yes, no altcoin can surpass Bitcoin," Why are you so sure Bitcoin is best? Blockchain, the cornerstone of Bitcoin, changed financial transactions, but is it perfect? Every giant has a competitor, history indicates. What if blockchain is replaced by a superior technology? While rooted in current patterns, your view seems to neglect innovation's relentless march. Cryptocurrencies evolve constantly. Bitcoin's privacy, decentralization, and value storage are impressive. Assuming it will always reign overlooks human innovation. Bitcoin fans and global financial systems will benefit from your claim that the new technology improves these crucial qualities. Bitcoin and its successor may evolve together digitally. We should adopt new technology if it benefits us, as you say. Keep in mind that development often removes the old without our consent. Can we adjust if this unforeseen technology miracle occurs sooner than expected?

BTC will never be inferior.

First of all you need to find someone who is willing to give up for free his creation, like Satoshi did. Then you need to build a community that actually believes in your product and understands its value. Doing the same thing that bitcoin did is not easy at all, it takes a lot of efforts, sacrifices and time. And especially becoming so decentralized like bitcoin is another extremely hard thing to achieve. Sometimes I feel like people really underestimate bitcoin.

It is good to hear about your deep dive into Satoshi's posts and your admiration for his passion and contribution to the creation of Bitcoin. There is no doubt Bitcoin has  made the way for blockchain technology and decentralized digital currencies it is good to remain open to innovation and progress.

If someone develop a system that surpasses Bitcoin(which is quite impossible in my point of view) in terms of performance decentralization and other key aspects it will be an exciting development. The beauty of technology is that it always be advanced  just like  Yahoo was surpassed by Google it is possible that a better system can come in future again.

So if a new genius with a passion for decentralization and innovates a superior system it will be an exciting opportunity for the cryptocurrency world.

Change is a constant thing in life and as time passes we are likely to witness technological advancement but no one knows for sure when that will happen. For a new development to emerge and surpass bitcoin then it would have to make use of a different technology other than cryptographic blockchain technology else it would just be seen as another altcoin and I don’t think there will be any altcoin that can surpass bitcoin. If eventually there comes a new technology that beats blockchain technology and is also aimed towards improving on the bitcoin function of decentralization, anonymity and store of value then it is a good thing for cryptocurrency community but it doesn’t mean bitcoin will be forgotten, the two can exist on their own and it will be a win for us either way.

I don’t think this can happen anytime soon but if in the future it happens we would welcome the new technology if will actually serve us in a good way.

I believe your type of thinking is also that of the government, they also think that nothing can be better and threaten their fiat because fiat has also dominated this world for hundreds of years. But then bitcoin appeared under their contempt until they learned that it was completely superior to fiat and it was too late to stop it .

Our world is constantly evolving and better things will always appear with time. Many bitcoin maximalists are more crazy about bitcoin than their god , but they also need to accept the fact that anything is possible. Satoshi is not the only genius in this world, and we should expect and embrace the world's development instead of expecting it to become obsolete.

Bitcoin is king.

enough of the what if this or what if that kind of question. What if it doesn't happen? The truth is that change is a normal occurrence and if it makes things easier and provides a better way of doing things, I don't think a wise and reasonable person will close his eyes to such changes. No one is saying because bitcoin is the first cryptocurrency no other cryptocurrency should exist. You should know that there are many altcoins here and there and no one is condemning or wishing it bad but it becomes bad and seriously unnecessary to want to suggest that bitcoin should go into extinction before there is a high probability of a new technology that will replace or become better than bitcoin.

I think I will ask you back this same question because the answer is pretty obvious. I believe as humans we are all looking for that technology or invention that will further better our life and that is what we we have been doing through out all our stay on earth from the evolution stages you would see this clearly. Technology has been of massive impact to the lives of humans and I doubt if there would be rejection if another person with better motive create a tech that is better than Bitcoin. But there is one problem people will not just started adopting since there would skepticism to well it is over Bitcoin so it would have to speak for it self just as Bitcoin is doing over the millions of other cryptocurrency out there.

In essence, Bitcoin will be invincible as a system that uses peer-to-peer technology in its operations without a central authority. Even if someone else finds a system that is more powerful than Bitcoin, Bitcoin will still be different from the great system that person discovered.

A number of coins that already exist in the crypto space numbering in the tens of thousands with systems designed with their respective advantages cannot yet compete with the greatness of the Bitcoin system.
Without Bitcoin, all these types of coins would not exist. Bitcoin is the best even in the future.

The normal analogies of first mover companies being beaten by later entrants (Yahoo vs Goolge in your post), or cars as you mentioned is a false analogy. Money doesn't get worse like a car does over time. Nor is Bitcoin a company that can be outcompeted by a newer company.

Money is a totally different thing. And the thing that makes Bitcoin unique, more so than just its actual payment processing tech, is its security, decentralization, and network.

Sure it is possible someone in the near future formulates a totally new design to a digital currency that is vastly improved over Bitcoin including security, decentralization, and efficiency. But why worry about that? Do you think people for thousands of years worried about Gold being replaced by some other metal? Also, bitcoin is code, and it can keep being improved.

And how many times have we heard people claim the solved the problem of decentralization and efficiency? Hundreds at least. And not once was it actually solved. Doesn't mean it won't ever be solved, but if it ever is, by that time Bitcoin will likely be a network of billions of people so I wouldn't worry about some new upshot money technology competing with it in the decades to come. Just enjoy the fact that we now have the best money humanity has ever created and we live in a time when most people haven't even realized it yet so we are early to the party.

For now I am not interested in having another technology, I like this one more because it does not depend on anyone, any type of government, or banks, I doubt that they will make another technology like it, because if they do it would be created for other purposes, if they enter only an elite group and only they can control it, in the meantime, bitcoin is just one of the things that continue to be so great, things will always be very good so that bitcoin continues to grow and not be controlled by anyone, that is the best and What do I like the most, for that reason I believe that things are always good, I personally will always see bitcoin as one of the best forms of Investment Above many others.

If it is not create by the government, it will pass through the same phase to grow into what is known and used as bitcoins and it will still experience rejection for a while, but by then bitcoins must have been at its best. Most of the creators who are trying to create something better than bitcoins have not been able to yet, because they have only been able to create more altcoins. Except it is another financial system, Bitcoin will always remain the number one in cryptocurrency.

We have had countless of genius like satoshi and even smart individuals but you need to know that cryptocurrency revolves around security, decentralization and speed. Bitcoin obviously has decentralization check and confirmed, it has one of the greatest security in its blockchain but has an average speed, it cannot compete with the likes of Visa transactions that can process thousands of transactions per seconds. But that has not limit Bitcoin development, it speed has been scaled to layer two solution which have the three but it is a base layer of Bitcoin, this is to say that bitcoin is improving everyday.

Other cryptos that we have had today also build around decentralization, security and speed and despite the magic they have used, nothing has been delivered because you can't have this three working perfectly together, one has to be compromised to get others working perfectly. If you don't let go of decentralization, you have to let go of speed or security but doing so especially security will is a disaster. No blockchain is superior to bitcoin in anyway, that is why they never thought of how altcoins that we have today, bitcoin remain the best of best.

I came to believe that first inventory (s) always remains the most reliable and quality in reputability. The phases of the initial inventory (s)  is where alternative inventories are emulated and there proffers tendencies of counterfeits of analogous
This is exactly why since Bitcoin has been a grassroot of crypto, other coins are termed AltCoins (alternative coins) meaning there are still choices after the principal.

However, I am glad that someone could have such state of thought in mind and then, I would appreciate if you can go through this recent thread I make from my local board that stresses about "The wonders, worries and how I feels about Bitcoin in general".
Read on @ https://bitcointalksearch.org/topic/m.63132919

To that person, give praise if the system created is truly superior to Bitcoin created by Satoshi.
I will do it if in testing it is able to survive more than the time predicted for Bitcoin initially.

Tens of thousands of coins came after Bitcoin was created but none could be like Bitcoin. Bitcoin one (BTC) is not as many types as altcoins. The maximum total Bitcoin is 21 million. Unlimited altcoins.

The reason why other altcoin can never be as bitcoin is because they are just imitation of bitcoin,  trying to be like bitcoin that is why most of them ends up becoming a failed project. As far as a new innovation is trying to have the features of bitcoin,  bitcoin will always surpass it.
If their will be a new innovation that will be better than Bitcoin I won't be surprised because the world is evolving,  technology is advancing it is possible to have something as good as Bitcoin if only creating it will be in a different idea and not as that of bitcoin.