Topic: What if the second Satoshi appears? - page 2. (Read 466 times)

The basis or parameter that you care about is just about "blockchain" and there is a lot of blockchain currency that has surpassed BTC. It's just that it's not enough because it's not number one. I think one that could create it would just create something else not necessarily BTC.

If ever it will be replaced by something that could be worth more, it's going to be a change and transfer of wealth again because at the start, it wouldn't be priced higher than BTC at the start but in the long run it could overtake if that happens.

First of all, there are a lot of blockchain technologies out there and many coins, or what we call "altcoins," but why are people still into bitcoin? It's because without the bitcoin that Satoshi builds, there are no other coins or altcoins. In short, all altcoins are based on the technology of bitcoin; they rely on it. For example, all altcoins can be affected by the price movement of bitcoin, and I guess you all know that.

If, for instance, there is another technology that surpasses bitcoin, then I think people will still be in bitcoin because it's not easy to let go of a technology that offers a lot of opportunities, and as long as it is useful, I know bitcoin will never be replaced. There are a lot of possibilities as technology advances in the future; we never know; we can't predict the technology, and that is the most exciting part of it.

We are still waiting for a faster, better and more secure blockchain. Bitcoin Cash was supposed to be "faster and better" because of the bigger mining blocks, but it failed. Ethereum was supposed to be "faster and better", but it's not.
Having less transaction fees and faster confirmation time means that such blockchain will have to sacrifice a little bit of the security, which is an instant red flag.
What will happen, when such "better" blockchain appears? Well, the crypto enthusiasts will adopt this blockchain and reduce their usage of BTC and the BTC blockchain. There's no drama here. The world of crypto is competitive and I don't find any problem with this. Bitcoin will remain "the first cryptocurrency" and it will become a legend.

Many altcoins have come and gone and Bitcoin is still on top. There are coins which many people would consider better than Bitcoin. It isn't enough to just launch a coin with better features. Bitcoin was the first cryptocurrency to really gain traction. That is something that cannot be replicated so any new coin that launches will have to live in Bitcoin's shadow for a long time before it can really become a worthy challenger. Many projects already know it will be nearly impossible to overcome Bitcoin's network effect so instead they choose to carve out their own niche and there are a few that will work on improving Bitcoin.

Not only second Satoshi, but there have been many self pro claimed Satoshi, the two most popular are BCH, RogerVer and BSV, Craig Wright. The fact many self pro claimed Satoshi's projects are failure, Bitcoin is still the best cryptocurrency.

Even there are new project comes up and claimed better than Bitcoin, it's all depends on us aka people who want to trust with project and where we're going to invest our money.

This does not rule out the possibility because technology will continue to develop and change. But why here I love Bitcoin which is irreplaceable is because, Bitcoin already existed first, what is lacking in Bitcoin now can be added freely by developers to continue to improve and make it better than before, for new projects that will compete or shifting will certainly be difficult and the possibility is very small for new projects. These new projects may only end up as alternative coins such as ETH, BNB and so on. has its own ecosystem and its own focus.

Technology has proven to be the best solution apporach to challenges faced by humanity, every decade, a certain technology surfaces solving loads of complex problems and faces trying times and when it succeeds, it gets adopted and then goes through another series of challenges associated with regulations, just as Bitcoin currently is undergoing its own phase. If any technology comes up and goes through this process and survives it, the world will embrace it, Bitcoin isnt the first and its not gonna be the last.

Protocols currently exist that have much more better (security, performance, etc)  features compared to bitcoin even though decentralization is not their strongest suit. At first, I was a big believer of the "Bitcoin has the first mover advantage" narrative  but overtime, it turned out that Bitcoin is much more than that. So even if someone comes around with a new more shiny tech which has been done a couple of times over so anything else will probably be next in line many others that have come before them.

Bitcoin became as big as it is now not only because of that. There are several factors, and Bitcoin trading occurred a long time ago, through a long process, with exposure to various negative issues. However, trust in Bitcoin has never waned. And if you want to know, currently various other blockchain projects have been developed and produced altcoins with concepts and advantages and several things that they might consider faster than Bitcoin, but in fact they are still unable to replace Bitcoin. because once again, Bitcoin is not just about its speed.

Did Satoshi create Bitcoin out of greed? Where can you think like that? This is really funny.

Don't think about things like this. And this is something that seems quite impossible to happen. If people dump Bitcoin, then all altcoins will also be worthless. I wouldn't think that people would throw away Bitcoin and Bitcoin would disappear in this world and no one would use it anymore. Unless this is something unexpected in the future for a very strong reason.

There are a lot of promising projects that were born in the market but the problem is they don’t actually last like bitcoin did. That’s why most of the recent projects these days that are out in the market are now imitating the image of bitcoin, not actually to outperform it and replace its position but somehow to be equal in it. But still, bitcoin still end up having the edge and still on top of others.

However, still I am open to a lot of better projects in the crypto market in the near future. Bitcoin will definitely have its certain end and something new will sure to replace on its position, but for now let’s just enjoy the present and the future benefits that bitcoin has to offer.

Now the market like Bitcoin has fulfilled multiple coin development but hundreds of projects have vanished from the market. I don't think there will be a competitor to Bitcoin in the near future. Coins like Bitcoin are created but may not be as popular as Bitcoin due to disclosure of ownership. In my view, any coin similar to Bitcoin can enter the market and survive.

It's a free world, no one is stopping them, let them sit down and think of a possible offer that is far better and then introduce it to the world, if we see its something new and different with more better offers, then it will surely boom, just as after the introduction of bitcoin, some so many people have also tried to create their own altcoins to counter bitcoin but they couldn't succeeded, so it's a matter of who is ready to be the next Satoshi and what new thing did he has to offer.

Definitely, people always go for what they think is better for them. Right from the development of Bitcoin, there's one thing I noted about it, which is consistency in price movement and popularity, but for some other investment means, it has only been a trend that comes and goes. Perhaps a trend can last a while, and before you know it, it's not the same as it was again. Bitcoin is constantly growing, and if there is any technology that can beat Bitcoin, until then, we shall know what will happen. But as far as I know, there are still other forms of investment like real estate, gold, bunds, stocks, etc., but most people still stick to Bitcoin. Even if there is another technology, people will still have their Bitcoin.

For me, its never a threat to the original bitcoin innovation. It needs to prove its utility case first and should exceed the performance and profitability  of bitcoin so that people will be more attracted to invest in it and make it as a priority. However, it may take years for it to happen and for sure, with the high rate of scams in the market, people will be more cautious not to invest and trust into new innovation unless if it can outperform bitcoin and its utility cases in the market.

There are lots of possibilities that could happen, but in the future, getting something like that can't be done at the moment because of course the most important thing right now is that we also have to pay attention to several other factors such as Popularity and Quality. owned by bitcoin.
Bitcoin is the best at the moment and we know what Bitcoin's popularity is like at the moment and indeed this is supported by the quality that Bitcoin has so that everyone here thinks that Bitcoin is the best because of its quality, although there are no guarantees, its progress is very good for the future.

Now we have seen many projects that are even faster than bitcoin but their popularity and quality are still weak so even though there will be possibilities as you think with developing technology but bitcoin will remain bitcoin that will not disappear for some time to come. for years or even decades because its popularity and quality will still be highly accepted by many people.

Everything that is good at first might not actually last and still end up being useless. But if this new innovation gains more advantages than bitcoin, and is seen to be more productive and profitable than bitcoin, then why not? People will eventually rush to study it and invest on it later on. However, we can't expect people to finally leave bitcoin as easy as it is. Bitcoin has been here for more than a decade and until now its still in high demand and still proven valuable and profitable. They might be tempting to engage with this new one but that is only for exploration until proven that its way more beneficial than bitcoin.

Money has been used for making transaction or purchases for who knows how many centuries. Don't you think Bitcoin is better in every way than money? Then why Bitcoin is still struggling to get accepted by every people in the world? The answer is user-friendly and reputation. If I make a new currency and try to use it instead of money, how do you think people will react to that? Do you think they will accept it immediately or it has to be around and prove itself to be worthy?

My point is, Bitcoin has been with us for almost 15 years. It has been around for a long time to create a reputation in which people have faith in it and they are using it as a community. People have already tried creating something similar to Bitcoin but none of them have worked out as good as Bitcoin did. And everyday more and more projects are popping up from thin air in which most of them are scams. How do you think people will take something new that claims to be better than Bitcoin and the most important part, being decentralized.
How can people be sure that the person who invented that is really not going to take control over it? We live in a world where we doubt almost everything and can't trust anything. There will always be people working around the dark. How do you fix that? If it can prove its worth over time, only then people will accept it something as great as Bitcoin or better than Bitcoin.

Can I ask why you are creating multiple threads on the same topic? After that, you created this thread, which is almost the same: https://bitcointalksearch.org/topic/m.63104804

Why are you concerned about the new cryptocurrency? There are a lot of altcoins, and I don't see anything to worry about. It's a normal procedure that something always comes new, and individuals don't welcome everything. Just look at the market and see how many coins exist and how the community has welcomed them. I don't ignore the possibility of a new advanced virtual currency, but that doesn't mean Bitcoin will not exist.
 

Yeah, for sure, there is beyond doubt that currently there are so many alternatives
Which is better than Bitcoin in terms of speed, less fee, etc. due to its service measures, but cannot make itself a worthy attribute like Bitcoin. It is obvious that, apart from Bitcoin, other coins are similar. But in a decentralized ecosystem, the most important point is trust. And if we talk about trust and confidence, Bitcoin is at the top and has become prominent in the eyes of people.

And now if someone claims that I can implement something better than Bitcoin, then he will be right, but even putting all the effort into it, he will not be able to provide something as trustworthy and valuable as Bitcoin. Because Bitcoin has given people a complete guarantee that it is trustworthy despite the day and night interruptions, and now when the new satoshi needs to gain their trust first, they can go for it. Then they can take what Bitcoin has taken. But in fact, it is not possible that he will be able to lower the legacy of the real Satoshi Nakamoto (Bitcoin) and get himself on top.

How about the altcoins that are created and some of them are really fast and have cheaper transaction fees but they are unable to replace bitcoin. Some altcoins may call themselves bitcoin killers, but they could not overtake the marketcap of bitcoin.

I don't think anyone can develop a better blockchain than Bitcoin. Bitcoin has proved over the period of a decade that it is a foolproof blockchain and no other can match.

By the way, one thing to note is that the founder of Bitcoin Satoshi Nakamoto does not exist, and therefore there can be no change in code, in supply etc. I hope you can understand the transparency here as there is no owner who can dump the majority of the holdings (as it happens with most altcoins).