Topic: what if bitcoin becomes inferior - page 4. (Read 656 times)
Even though I have learnt to keep an open mind as regards Bitcoin, I wouldn't want to give this a second thought because it is practically impossible. Are you by any chance suggesting that a new innovation will emerge that will gain the acceptance that Bitcoin enjoys? Don't forget that several cryptocurrencies have been developed, some claiming to be an improvement of Bitcoin yet the later remained unbeatable and incomparable to anything in the digital space. Well, it is good to dream but we should not put too much hopes I dreams we know will not come true.
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?
It's definitely hard to imagine something as groundbreaking as Bitcoin but you are right that innovation is constantly happening in the blockchain and cryptocurrency space. Yes, I know quite well that there are a lot of different possibilities and it's hard to predict what will actually happen if something better than Bitcoin emerge eventually. But one thing to keep in mind is that Bitcoin has built up a lot of momentum and network effects over the years. What I mean is that, even if a new cryptocurrency is better than Bitcoin in some ways, it would be very difficult for it to completely replace Bitcoin. The fact that Bitcoin is limited in supply, I think it could remain a popular store of value even if a better cryptocurrency comes along.
(...)What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
So you can imagine yourself coming up with the next technology that can pioneer and replace bitcoin. I know that's not going to happen in terms of ideas and some similar crossover is unlikely compared to bitcoin. In fact, even at the present time, there are different opinions about the acceptance of bitcoin, so don't expect too much that something will happen soon because the OP mentioned the historical development story. Then remember how long it took Bitcoin to reach its current state.Anyway, I'm not too fanatical about Bitcoin, but when it comes to technology, I think it is currently much ahead of its time. I really feel very lucky to be people who know about bitcoin. But if what OP happens, I'm not sure I'd be knowledgeable enough to recognize it early on.
What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
Good. Better technology would replace the old ones, especially if it brings something new to the table and fixing the current problems. I do not see that would be a concern for the community. Bitcoin doesn’t have to be followed religiously. And an innovation being used widely and replacing the old one is a common thing. We can see it happen to many other system or aspect of technology in general.
This should not be a concerning matter, honestly. Better system that fix or solve user needs will surely be utilized more massively.
It may get inferior but it'll remain the first one who started all this, this fact can't be changed no matter what. You talk about later time meanwhile we have heard talks of Ethereum flippening Bitcoin already.
~..What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
As for now there's nothing coin released that surpass bitcoin itself it this could be the biggest news of all time, but currently, most of the coins created besides bitcoin or we call altcoins are still some of the follower of bitcoin price, and its feature. We know why Satoshi created bitcoin because of wanting to become transparent and decentralized if another creator offers like this I guess no most of them want to become have authority and power with the coin they've created. The reason most of the altcoins are centralized. Just my cent, if someone will offer the same as the bitcoin i guess could be another life changing.
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 has a decentralized structure. Besides Bitcoin, there are thousands of altcoins. In fact, many coins were launched to become a new Bitcoin, but they were not as successful as Bitcoin.
Bitcoin brought a different understanding. If something new like Bitcoin is to be successful, it must come with a different understanding. At the same time, the comparison between Google and Yahoo may not be accurate. Two different companies that are successful in their own fields.
I would like to say one more thing that what you say is not possible, that is, I do not think that there can be another similar to the formation of Bitcoin and its experiences and development in the market.
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?
If you look at the current crypto market, there are so many developers who claim to create something better than Bitcoin and what you see, of course, is just a one-sided claim (they consider themselves better than satoshi). You are wrong if you equate bitcoin with cars because that is not an appropriate equation, if car manufacturers continue to innovate on the cars they create, that means things are different with bitcoin, the number of bitcoins cannot be added or reduced, bitcoin will always be like its natural nature forever.
Bitcoin didn't start from superior and it started from the inferior so it will not go back again. You are something of futuristic and not present. For now bitcoin is highest. If anyone will create a coin that will be more then bitcoin then indirectly fiat currencies will be wiped away from the earth. And the coin that will come will be an imitation of bitcoin because now bitcoin is a decentralized and also if that coin will be decentralized then is an imitation of bitcoin.
You have misquoted everything about Satoshi Nakamoto. Bitcoin was not created in 2009 and only that shows that you read the upside down of the white paper and not the inside. For you information bitcoin was created in 2008 and was launched in 2009. You should go back and re-read it again for the comprehensive understanding of the white paper because for now. You are out of point.
And for your information, Yahoo is very active and from beginning Yahoo was for chatting and searching and google was mainly for searching only. At first Yahoo was having different functions than Google. It is still functioning very well. I am still using my Yahoo mail. Yahoo is serving it purpose. So I don't see here google is more important than Yahoo and all depends on the function.
You have misquoted everything about Satoshi Nakamoto. Bitcoin was not created in 2009 and only that shows that you read the upside down of the white paper and not the inside. For you information bitcoin was created in 2008 and was launched in 2009. You should go back and re-read it again for the comprehensive understanding of the white paper because for now. You are out of point.
And for your information, Yahoo is very active and from beginning Yahoo was for chatting and searching and google was mainly for searching only. At first Yahoo was having different functions than Google. It is still functioning very well. I am still using my Yahoo mail. Yahoo is serving it purpose. So I don't see here google is more important than Yahoo and all depends on the function.
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What if there's also no technology like Bitcoin in centuries to come? Bitcoin has lived for a decade now, and since then, other technologies and altcoins have always emerged, but none have beaten Bitcoin. Defi came, NFT came, and CEfi also came but could not do better than Bitcoin. I still remember some Defi projects that I invested in, and at first they were giving me some profit, which was tagged as auto-compounding profit, which always generated more of that coin in my wallet every minute and hour. But today all the Defi projects I invested in are dead, and even their telegram groups are all dead. I am very young, and if you ask me, I would say that there is no technology coming so soon that can surpass Bitcoin; it could be centuries after I am no longer alive.
Something better does not make Bitcoin inferior.
Bitcoin will always function as it was designed to.
Bitcoin will always function as it was designed to.
And if we look at it, there are a lot of altcoins that might be better and superior to Bitcoin, like in terms of speed and confirmation times they are very quick. However, the question is, how safe are those altcoins from not being hack?
If the OP is interested, he can check this out: https://howmanyconfs.com
Most likely this is the very reason why bitcoin will not become inferior, it was designed to be robust and it is very secured regardless of the critics saying that it is very slow and not instant.
And even if we have altcoins that is near instant, no one can take the place of BTC and it remain superior.
Something better does not make Bitcoin inferior.
Bitcoin will always function as it was designed to.
Bitcoin will always function as it was designed to.
That is why we have the altcoins market for people who are passionate to create their own coin and monetize it in a way that people would invest and hold if they like the concept and utility of the project. There are so many amazing crypto projects in the crypto market but there is no one that can be compared to Bitcoin looking at the way the system works allowing every interested investors to mine and earn Bitcoin as long as they want to be mining. Many of the altcoins we see in the market are there to enrich the dev and the team pocket with little funds for marketing to create awareness about the project.
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?
Of course that is the nature of technology, some of them come and go. But so far with all the thousands of altcoins that have existed, no one can still topple Bitcoin. And maybe Satoshi was really a genius. I mean him disappearing really put his "Project" into like an enigma that up to this day, it is still the number 1 crypto and not even anyone can get close to it.
Actually there was an attempt before, and it was called "The Flippening", wherein Ethereum supposedly overtaking Bitcoin, but they failed.
And then "The Rippening", Ripple as well, but then again, their attempts met similar faith as Bitcoin didn't moved.
So still depends on Bitcoin enthusiast to make it and continue to be the dominant coin and so far all signs pointed that Bitcoin community is very strong till the next the decade.
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What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?
WTF, OP? I get you are excited about this topic and want to discuss it, but making multiple posts about the same thing is a bit much. We like fresh ideas here, not reruns. Dont you know how to use the forum? Its like you are stuck in a loop, repeating the same thing over and over.
What if the second Satoshi appears?
Bitcoin is the mother of cryptocurrency, so any other coins, even those advanced from Bitcoin, will still be an altcoin. I am talking about those creating virtual currency using cryptography. So technically, any cryptographic altcoin won't surpass or destroy Bitcoin due to the nature of cryptographic blockchain technology. But I admit there would be a new virtual currency with some other latest technologies instead of cryptography and blockchain. It doesn't mean a new virtual currency would replace Bitcoin. Both would exist on their own platforms. Both would be welcomed by digital currency users. For example, you are using Bitcoin, but you can't ignore PayPal or other digital fiat currencies. All of them exist on their own platform, which we continue to use. MFS (Mobile Financial Services) is performing well when the traditional banking system still exists.
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. A good question indeed about if another crytocurrency were to take over from bitcoin as the undisputed leading cryptocurrency, maybe bitcoin can still have it's relevance or it'd be relegated to being called "shitcoin". I sincerely hope that will not happen, because bitcoin has my respect, as the first and most outstanding crypto that has changed the narrative of transactions from banks to DEX. Another reason why i won't like another crypto to take the lead or be in pair with bitcoin in the crypto space is because, crypto in general might start to loose value just as other lesser coins are not worth much.
We live in a competitive internet age, where almost anything is possible, technological innovations are happening everyday. Individuals and firms are outdoing each other to give better versions of their innovations, so we'll just wait and see whether any any cryptocoin can take over from bitcoin, although I won't worry myself about that now.
it all boils down to popularity. once something new comes out, it will have to compete with BTC and see if it can topple BTC. so many have surfaced along with ETH in the past but have not been successful enough to replace BTC on top. the closest to BTC by far the difference is just the blocksize is BCH.
as of now it is only ETH that has been challenged many times that's why there are ETH killers but none of the devs are ever so crazy to claim their project is a BTC killer.
as of now it is only ETH that has been challenged many times that's why there are ETH killers but none of the devs are ever so crazy to claim their project is a BTC killer.
It's a bit like the classic story of innovation and progress. Just as Yahoo gave way to Google, new and improved technologies can emerge over time. If another brilliant mind like Satoshi comes along and creates a better system than Bitcoin, it's a chance for the crypto community to evolve; a win for us. IMO, the key is to keep an open mind and adapt to changes while we also honor the essence of decentralization.
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?
I think the only constant thing in life is changes. As time passes by, so new technology always comes up. Other technology advancement might come up but I think It would not be in form of crypto currency or blockchain technology. Even if it's crypto currency it would only be and update of blockchain technology to secure it harder to prevent hackers to penitrate our wallets. If Satoshi nakamoto brings a new thing I don't think it would be Bitcoin again. Looking from what he did after Bitcoin, he created Bitcoin forum to make people interact vividly on bitcoin and it's inportant and how long it will exist. If he would have created another thing that would be more than bitcoin I think he wouldn't have created this forum.
Taking about cars that wear created in 2009, if you check they are still car I don't think if there names change from car to another thing. Rather there version changed. Blockchain technology is an invention which Bitcoin has gained popularity so far and people has been grinded much on it. So I think there is nothing that shake people.
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