Take a look at the last decade pal, there have been “geniuses” who have tried to replicate Bitcoin even from the early days, a good example is Bitcoin Cash. It was speculated that BCH was going to be new Bitcoin, people bought Bitcoin Cash believing it was the better version of Bitcoin and today we can all see how wrong they were. Many coins have been forked from Bitcoin but altcoins can never be the same as Bitcoin because the creators of these altcoins are solely in for the profits.
I don't really know what op really meant by that words but I think it is the wrong words to use. There is no matter Bitcoin can ever become an inferior cryptocurrency looking at how it had started and where it is going. There is no crypto projects that can be compared to Bitcoin whether it had been launch or going to be launched the future. Bitcoin had full control of the crypto market and there is no way a new coin will come up that would have effective dominance in the market than what Bitcoin is doing. We just have to keep buying and holding Bitcoin for as long as we want to looking at the future of Bitcoin. 
Topic: what if bitcoin becomes inferior - page 3. (Read 656 times)
Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
Remember, Bitcoin is a technology, it is compose of codes which can be modified and upgraded. It is wrong to compare Bitcoin to physical car since physical car has its limitation and needed to create a new one to go and par with the technology advances.
There will always be a creation that will make other creation obsolete but good thing with Bitcoin is that it can be upgraded according to the current need.
A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
You've raised a very good question and honestly I've never thought about this before. Just as you pointed out, the world is evolving everyday, technology is constantly been improved and newer products are developed as we've seen with automobiles, television, aeroplanes etc. However, since Bitcoin came into limelight there have been many cryptocurrencies that have sprang up, claiming to outperform Bitcoin. Most of them have disappear into thin air while some of them are in life support fighting for their dear life. So what I can tell you is that Bitcoin is here to stay and there's really not going to be any altcoin that will outperform Bitcoin. Bitcoin might be outdated in the long run when compared with these new high potential coins but as long as the market demand is high, bitcoin will always remain on top of other cryptocurrencies.
I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
This is not new for bitcoin. A lot of potential projects are born in the market everyday but until now, not any single project has replaced the position of bitcoin. That is the same with the situation you have cited OP. It's not actually a threat for bitcoin if something new better has come up, because the real challenge is if that project will come to conquer the crypto market for more than a decade just like bitcoin did. Of course, there will be higher potential coins that will arise in the market that has better innovation compared to bitcoin, but the problem is if it will get bigger market demand higher than bitcoin since we all know a king will always be a king, and bitcoin will always be the lifeblood in the crypto market ever since. 
Ultimately, I don't think that's a bad thing.
I mean, if we had another coin that has all the wonderful features of Bitcoin and even better, it would be to our advantage. If all these altcoins we have around were like Bitcoin, I believe the cryptocurrency industry would have developed more than it is today.
We are using Bitcoin today and we believe it's the best version of itself, but I believe it can get better, even if we haven't seen it.
People who used sophisticated inventions in the 19th and 20th centuries thought they were using the best version of those inventions, but today those inventions have been updated and are better. For instance, people who used computers in the past decade. The computers we use today might be obsolete by the next century.
Technological advancement is not a bad thing. The good thing about Bitcoin is that it was built to evolve, it was built to grow so it's difficult for it to be obsolete , sobefore something can be better than that, it has to be a very sophisticated invention and that's an advantage to us in my opinion.
I mean, if we had another coin that has all the wonderful features of Bitcoin and even better, it would be to our advantage. If all these altcoins we have around were like Bitcoin, I believe the cryptocurrency industry would have developed more than it is today.
We are using Bitcoin today and we believe it's the best version of itself, but I believe it can get better, even if we haven't seen it.
People who used sophisticated inventions in the 19th and 20th centuries thought they were using the best version of those inventions, but today those inventions have been updated and are better. For instance, people who used computers in the past decade. The computers we use today might be obsolete by the next century.
Technological advancement is not a bad thing. The good thing about Bitcoin is that it was built to evolve, it was built to grow so it's difficult for it to be obsolete , sobefore something can be better than that, it has to be a very sophisticated invention and that's an advantage to us in my opinion.
I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
Bitcoin is not like other innovations, it's type has not been built ever since it was created because as you said, Satoshi built it with passion without aim of profiting from it but today, look at the market, all the coins and tokens that are been listed are profit oriented, the teams behind it has tokens set for themselves, did pre-sale, public sale and all sort of public funding to raise money just to finance them but bitcoin is difference, no greed people around even the 1M bitcoin Satoshi left to himself is yet to be move or touch a single penny from it.
I'm not underestimating how innovations changes with time but I'm just saying, if there is going to be another coin like bitcoin, the founders and developers has to do something extraordinary and encouraging the people but I don't think it might be fruitful to outshine bitcoin. Even bitcoin is not relaxing, the developers behind it are also working everyday to improve and scale it in other to boost, security and decentralization, other coins lack this 3 aspects altogether.
I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere.
Who said he did not keep anything for himself because he also has many BTC in his holding and those BTC are around 1.1 million in BTC. These numbers are not small, so I don't think it would be nice to say he did not keep anything for him. Like you said, he did all this without any greed. There is no doubt in it that he was doing all of this without any fixed incentives, like if he made BTC or blockchain, he would get this $100k amount in fiat. No, he was making efforts, and if they worked out, which they did, he would be a billionaire at some point in time. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves?
This question has already been asked before, but my answer will remain the same: even if new geniuses come up with another BTC, let's say BTC version 2, would people adopt it? Yes, they will, because airdrop hunters are always in search of new projects and they will not let this opportunity go to waste.They will spend money on it, and there is no doubt about it, but BTC V2 cannot compete with the BTC we are using now because all the hard forks of BTC, like LTC, BCH, etc., are better than BTC, but why are they not overtaking BTC?
Take a look at the last decade pal, there have been “geniuses” who have tried to replicate Bitcoin even from the early days, a good example is Bitcoin Cash. It was speculated that BCH was going to be new Bitcoin, people bought Bitcoin Cash believing it was the better version of Bitcoin and today we can all see how wrong they were. Many coins have been forked from Bitcoin but altcoins can never be the same as Bitcoin because the creators of these altcoins are solely in for the profits.
OP, I love you reasoning, but you have to know that the technology behind this Bitcoin is high, if another person comes up with another idea, people weigh the value of a while and decide the one to go for, but for now we have Bitcoin which is the highest rated cryptocurrency, if this come to existence people will be left with options either to continue with bitcoin or dump it for the newest option but for this to happen, the new one has to higher in value and price more than bitcoin.
Op, we have to be realistic I Don't think that any cryptocurrency will ever be valued more than Bitcoin instead of this to happen bitcoin will continue to rise, Bitcoin has proven beyond reasonable doubt to be the best among all.
Op, we have to be realistic I Don't think that any cryptocurrency will ever be valued more than Bitcoin instead of this to happen bitcoin will continue to rise, Bitcoin has proven beyond reasonable doubt to be the best among all.
Bitcoin has been dominating the crypto market for more than a decade, so I see no reason to believe that it's going to change any time soon. Bitcoin isn't losing dominance over time, and its closest contestant, Ethereum, is nowhere near it. Sure, hypothetically, at some point, there can come a more attractive currency that might beat Bitcoin, but it's going to be really hard to do because of the sheer number of altcoins as a widespread dismissive attitude toward them. In any case, if that happens, one can choose to remain true to Bitcoin or to sell Bitcoin and switch to the next big thing. So it's not really a problem.
Your sense of reasoning is high, your assumption is right, I know many will not agree with your saying but it is the very truth. Anything can happen and the former superior can later become inferior. Life is full of change that occur on daily basis as humans find better way of doing things. If it happens that bitcoins is about to go inferior, the new technology will have to compete until it overcomes, which will take a considerable number of years, this will give bitcoins investors the chance to take their decision on which side to belong
I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better.
No one can beat what Bitcoin achieved especially Satoshi. He is the only creator he didn’t cash out his holdings and let the community decide for the future development that makes Bitcoin the true decentralized blockchain. I believe no project can beat that since most of the project main goal is to gain profit especially for its creator.
There’s a lot of blockchain that has a better performance than Bitcoin yet no one has the feature of being real decentralized since most of them have DAO while the team or VC holds the majority of the tokens to manipulate the development of the project while Bitcoin is pure community driven project.
In terms of network and how it works, there's not much improvements but given how there's already a lot of developers that have been trying to solve what bitcoin lacked and still not get the same result that bitcoin have shown through the years and even if there ever is a crypto that will beat bitcoin in terms of technology, no one's going to beat bitcoin when it comes to being a pioneer and being a solid investment plus you also have to consider that when it's cryptocurrency related, it's always going to be bitcoin that many will come from their mind first more than any other cryptocurrency out there so in terms of superiority, I don't think that bitcoin's going to be beaten by any even if they say they've got a better technology than what bitcoin has because they lack bitcoin's prestige and notoriety.
I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
As soon as this new genius appears, then we will begin to look for a solution to this problem, but for now, we will probably be content with what we have. Namely, bitcoin. You are wrong about cars. What about those released 50 years ago? I'm talking about retro mobiles. Most of them are more expensive than new cars. These cars can't compete with modern ones in speed, comfort, technology, etc., but note that these cars very expensive. Think about it.
Faster, more technologically advanced and more modern are not always better for society. Some public consensus is important here. Bitcoin is recognized as number #1, flagship, symbol of cryptocurrencies. Everyone wants to own this, not some shitcoins. Even if what you described happens (a new genius creates a new brilliant cryptocurrency), bitcoin will still remain what it is now. This is not just cryptocurrency, it is the personification of all cryptocurrencies.
What should we do if someone gives us a better system than bitcoin as a gift and leaves?
Firstly Op Bitcoin isn't an ordinary gift Bitcoin is a cryptocurrency which means it will always be in existence even though there is an introduction of another coin which can be regarded as altcoin. So many altcoins has been introduced since Satoshi introduced Bitcoin yet none has been valued more than Bitcoin regardless of the rumors that has been said against Bitcoin by its haters why do you think the introduction of another coin will even make Bitcoin to become inferior when Bitcoin has gained more popularity and recognition than any other coin? New technologies may be introduced but none can make Bitcoin inferior not even fiat that existed before the introduction of Bitcoin.
I think the possibility of bitcoin being inferior is very low and other currencies will take a long time to compete with Bitcoin. Bitcoin is a very old currency and its popularity is increasing day by day bitcoin is the king of crypto will live as long as bitcoin no one can mess it up anymore. This shock has hit the economy of all developed and developing countries everyone is looking for a systematic way for coins like bitcoin. Virtual currency can be introduced in other countries in a special systematic way but no one can compete with bitcoin. Cryptocurrency or bitcoin currency will change the economic face of the world.
Many speculate that Bitcoin will die and be replaced by coins A, B, C, and so on, but the fact is that up to now Bitcoin is still the most popular cryptocurrency invested by many people globally. I'm sure that there will be more better coins than Bitcoin, but will it take Bitcoin's place? no one knows, but until now people are still investing in Bitcoin, which means Bitcoin is still a favorite, and maybe it will last in the future.
Haha, Bitcoin vs Altcoins is not as simple as Yahoo vs Google, What are you talking about OP, a better-decentralized system as far I know with the existence of Bitcoin there are so many Altcoin projects, calling themselves decentralized and blah blah, on the end they were not even close to the decentralized system and Bitcoin's decentralization can only be a daydream for them.
When I was a newbie I had heard of many projects hyped by rumors they'll surpass Bitcoin and at that time I was also taking it seriously by looking at their interesting marketing tactics, time to time this happens, on the POS vs POW debates times the hot topic was after the degradation the ETH will completely suppress the Bitcoin in market capital and domaince, It almost going to be 15 years and none of the concept dared to even close up to the domaince of Bitcoin and many many 15 years will be going to be a dream for those who are waiting for Bitcoin to be down from the King's Postion.
When I was a newbie I had heard of many projects hyped by rumors they'll surpass Bitcoin and at that time I was also taking it seriously by looking at their interesting marketing tactics, time to time this happens, on the POS vs POW debates times the hot topic was after the degradation the ETH will completely suppress the Bitcoin in market capital and domaince, It almost going to be 15 years and none of the concept dared to even close up to the domaince of Bitcoin and many many 15 years will be going to be a dream for those who are waiting for Bitcoin to be down from the King's Postion.
History shows that no coin has surpassed Bitcoin, but who knows what the future holds? We should always embrace the changing times and technological advancements, right?
There are many factors that can be said to go beyond Bitcoin. Like transaction speed which may be much faster than Bitcoin, privacy issues, and decentralization do not have.
Bitcoin remains decentralized and is the King of Coins that will affect all altcoins.
In the 14 years since Bitcoin was created, there have been many coins claiming that they are better than Bitcoin and even forked Bitcoin.
But nothing has ever surpassed it, coins that claim to be better than Bitcoin will just disappear and not be chosen by users.
Bitcoin remains Bitcoin and nothing will ever replace it.
For instance, you've probably experienced transactions taking a long time to process and the fees being quite substantial. These might seem like minor issues, but never underestimate them, as there are those who exploit these shortcomings. If Bitcoin does find its successor, we should be ready.
But if we can think wisely and keep up with technological developments. If we find a replacement for Bitcoin and it can indeed be replaced, we must be ready.But whether the replacement can fulfill everything that bitcoin has and is better.
Before Bitcoin is finished mining, Bitcoin will still be at the top according to the course.
History shows that no coin has surpassed Bitcoin, but who knows what the future holds? We should always embrace the changing times and technological advancements, right?
Some people might not like the idea of Bitcoin having competitors, but let's open our minds. Every technology becomes outdated and is replaced by something new. It all depends on society's needs and preferences for comparison. We know that Bitcoin can be used for investment and transactions, but it's not without its flaws.
For instance, you've probably experienced transactions taking a long time to process and the fees being quite substantial. These might seem like minor issues, but never underestimate them, as there are those who exploit these shortcomings. If Bitcoin does find its successor, we should be ready.
Some people might not like the idea of Bitcoin having competitors, but let's open our minds. Every technology becomes outdated and is replaced by something new. It all depends on society's needs and preferences for comparison. We know that Bitcoin can be used for investment and transactions, but it's not without its flaws.
For instance, you've probably experienced transactions taking a long time to process and the fees being quite substantial. These might seem like minor issues, but never underestimate them, as there are those who exploit these shortcomings. If Bitcoin does find its successor, we should be ready.
Jump to: