Topic: Which cryptocurrency comes close to bitcoin? - page 5. (Read 623 times)

Yea, first cryptos which came to mind were Litecoin and Monero as others have mentioned above.

Personally though I cant see anything other than Bitcoin because its open source, the massive backing
of miners and node runners and its ultra secure network.

Altcoins come and go, get replaced and fizzle out - not so with Bitcoin so I dont want to put energy
into something which may not necessarily be around in the near future.

with no more bitcoin i mean:

When there are no more bitcoins to buy because big companies like blackrock and governments will buy and hold everything away to back their ETF and fiat.


but cardano still has some plans to become decentralized, they are working on becoming the most secure and decentralized blockchain.

I think coins like Litecoin and Dogecoin are closer to Bitcoin than Ethereum and Cardano. And this is because the nature of the blockchain. In other words, if you have to migrate a project from bitcoin to another blockchain it will be a complex task with ETH but an easy task for LTC, because the way it works is really similar.

To understand what cryptos are closer to bitcoin you need to see the technical side of the coin, how close is the fork to bitcoin, and how decentralized is its network.

If we are going to talk about decentralization,  I really don't think we have Blockchains that fit this profile wholly without any controversy or links of being run in a centralized way.

But just for the sake of avoiding being paranoid about security and all that, personally I don't mind using binance chain, tron etc **ethereum Blockchain is a no for me as third parties add high fees on transactions which isn't justified even after the fork**

Which Blockchain? Well let's just say all blockchains are unique in their own way and have their shortfalls which shouldn't stop us from using the alternatives available,  but to fit this profile maybe Eth comes close

And incase of any emergency if BTC isn't an option? I think any Blockchain with low transaction fees should be good otherwise BTC is going nowhere

There’s none and none will be as decentralised as bitcoin in future times to come. The software bitcoin was created on is very exceptional from the rest. Being the first cryptocurrency to exist, it already has a huge potential ahead of the rest. They can’t beat the reach.



This statement is false and a statement like this will never come to past. What will make bitcoin go into exile and they’ll be no any to own again? Maybe you haven’t known much about bitcoin. You should try and learn more on bitcoin distribution.

with no more bitcoin i mean:

When there are no more bitcoins to buy because big companies like blackrock and governments will buy and hold everything away to back their ETF and fiat.

The maximum supply of bitcoin is  21 million and all of them will not be mined at once. It predicted that the last bitcoin will be mined around the year 2140. There is no way bitcoin will not be on the market because there will always be sellers and not everyone will sell to whales. Therefore, there is no need to rush or engage in panic buying because you will always have bitcoin to buy. The only issue you can consider is the price in the future. Bitcoin might become very expensive in the future and some persons might not be able to afford it.

I have seen people argue that some altcoins will compete favorable with bitcoin. But I have not come across such a coin. Bitcoin seems to be the pathfinder in the cryptocurrency space. The gap between bitcoin and altcoin is so wide that I doubt if any of them can come close to bitcoin price and recognition. People might be making so much profit from altcoins but the rate of fall of most of them is very alarming.

I am not very expert in trading but you question seems so childish. Because if you look at the dominance of BTC then you will understand fhat the half of cryptocurrency market capital is covered only by BTC. Then how any other coin like ETH or Cardano or any other would compete with it. Even if you compare the Trading volumne, hype, use cases, adoption rates, most prefered in business, legal tender, passive source of income, and etc. Etc. I could make a long list of factors.

Which will distinguish that how much BTC has the potential that no other crypto coin made it possible to reach near it. Oh, if you differ them by applying the filter of "Token" and "coin" because both are two different things then half of the rivals of BTC will be out of competition because they are token and BTC is a coin. I hope you may know the difference between them. So, overall answer is no cryptocurrency has the potential to come near BTC.

Other coins will never be identical to Bitcoin. The primary reason for this lies in Bitcoin's unique characteristic of having no centralized team to exert influence over it. This fundamental aspect ensures Bitcoin maintains true decentralization, setting it apart from all the others that rely on teams capable of influencing their respective coins. Moreover, some alternative cryptocurrencies face challenges from law enforcement, causing disruptions that do not affect Bitcoin, as no individual or entity can be arrested or punished in connection with it. While there may emerge newer coins with enhanced security features compared to Bitcoin, it is unlikely that any will match the genuine decentralization that Bitcoin embodies, making it an enduring symbol of a truly decentralized cryptocurrency.

You are talking about CBDCs and their use in the future. CBDC will become a thing in the near future and will probably replace the paper money we use today. If and when that happens, you'll have no other choice than to use it as your country's fiat. CBDCs will first go hand in hand with traditional paper money but will slowly replace it. The Scandinavians will surely be among the first to get rid of any leftover paper money as they are already walking down that road.

Regarding alternatives to Bitcoin, no other coins share the same features as Bitcoin. That doesn't mean that I don't use some of them, but I am aware it's a completely other world. The next best things after bitcoin is monero due to the inbuilt privacy features.

Friend, I honestly do not understand this point, but let me explain why we are here and I hope I am not wrong, Bitcoin will never cease to exist, it will always be present... why? Well, basically the BTC is limited to 21 million, and this feature makes it unique and valuable. As people continue to mine new bitcoins, they are added to the total supply, but there will come a time in the future when that 21 million limit is reached and no more will be created at this point. However, this does not mean that bitcoins will disappear or as you say "if there are no more Bitcoins". Existing bitcoins will continue to be available for use and transaction. Also, because a bitcoin is divisible into many smaller units called satoshis, there will always be enough to carry out smaller value transactions.

Here I leave a source so you can investigate a little more:: https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/#:~:text=As%20we%20already%20know%2C%20one,bitcoins%20have%20already%20been%20mined.

Now in that case, and we all end up being wrong and you end up being right, one day suddenly Booom "the Bitcoins disappeared", I would recommend having a well thought out backup plan to make sure that your assets are protected. For example, you could choose to use hardware wallets or invest in another cryptocurrency that has potential or matches BTC (assuming its value doesn't drop extremely "because there's no BTC")

Just a heads up that a coin being useful doesn't automatically mean it's a good investment. I think Tron can be really useful for cheap stablecoin transfers, but I also think that there are far better altcoin investments out there.

While you're correct and I would agree, It is only time until a more capable cryptocurrency comes up from the ringer and beats bitcoin out of the top spot at least in utility, market cap-wise it's a tough opponent to best I would say that much, but utility and overall popularity, it could be beaten with a token with proper utility and popularity and since this industry moves so fast to innovate it's not gonna be surprising to see projects out there creating the next bitcoin-killer.

Anywho, it's part of an industry that relishes on innovation, sometimes projects that do not provide the best interests of the people contemporarily, regardless of their stature in the market are left in the dust eventually for a project/token that's more useful.

I think TRX is very good for investment. this altcoin price maybe rise really high in the next bitcoin halving, bitcoin price also influence altcoin price. people really use TRX in real life. in my case, I usually use this cryptocurrency to buy game items. today, many people like to play games whether only for having fun or become game streamer, it is a big industry. I think their market target is very clear and promising. also if you want long term investment, staking this coin also profitable.

That doesn't make any sense. What do you exactly mean by "No more bitcoins"? because there will always be available bitcoin in the market. A world with zero BTC sellers is nonexistent.

I see people saying that nothing else comes close to Bitcoin and I don’t really believe that is true. I believe there are many superior coins out there that do a better job than Bitcoin. However, what makes Bitcoin special is the original distribution being more fair than anything else ever can be, as well as the mining network securing it being extremely powerful.

If you were looking for the closest thing to Bitcoin though, I would point to Namecoin.

Nothing comes close to being what bitcoin is & what it offers humanity, both now & in the future. Bitcoin is the single, greatest monetary innovation of our lifetime. Some people will profit handsomely from alts but no altcoin can compete with bitcoin as a combined package.

And you think if there's no bitcoin other coin would survive??
I can say with all assurance that if there's no bitcoin today all other altcoin will fold up by dumping 99 percentage.

What's left for you is to grab as much Bitcoin as you can afford. They will buy more Bitcoin and keep it as part of their holdings; they will trade it and make profits for their investors. Micro Strategy is holding a huge amount of Bitcoin, which its investors are entitled to according to their shares.

The Bitcoin ETF and those large asset managers purchases are not going to buy off the entire Bitcoin in the market; they will only purchase what they budget for. Instead of Bitcoin being completely off the market, it will only become more expensive as the demand will increase, so buying more and holding is what I think is left and has always been the alternative option.

All altcoins appear to be centralized, as Bitcoin is the only digital currency that appears to be completely decentralized (correct me if I am wrong).

I just want to find a secure and decentralized alternative to bitcoin

Which blockchain could become just as decentralized as Bitcoin?
Where could I store my assets in an emergency if there are no more bitcoins?


Bitcoin:
Bitcoin is not a currency that we will use for everyday, it is more like gold that will be used to store our wealth.
I don't think we're going to see much bitcoin in the future because big money managers and governments are going to grab bitcoin.
The BRICS currency is coming soon and it will be backed by commodities.
The most valuable commodity that can save the dollar is Bitcoin.
With the Spot ETF, large asset managers such as Blackrock or Fidelity will grab a lot of Bitcoins.

What is left for us then?
Exactly as good as nothing!


Ethereum:
Currency will be CBDC or USDC/USDT, as stupid as it sounds, most people let governments guide them and that's why I'm pretty sure most people will use CBDC.
CBDC are created by smart contracts, and there are already some CBDC that will run on Ethereum.

I think Ethereum will dominate the currency industry, the blockchain is in eyes of the government perfectly suited for this.
I also think Ethereum will never bee decentralized as Bitcoin.


Cardano:
They are working on one of the most secure blockchains.
They proceed scientifically before there are changes in the blockchain.
Cardano’s Proof of Stake also works a little differently than Ethereum’s.
They also focus on AI and ML.
They use one of the most difficult and safest programming languages.
There is no foundation that has the power like ethereum.
Hoskinson says Cardano will be 100x more decentralized than Bitcoin.

For these reasons, I strongly believe that Cardano will take over the DApp market instead of Ethereum.

Would Cardano come close to Bitcoin in terms of decentralization? ( by using artificial intelligence and machine learning )
Would they have to switch to Proof of Activity for this?