Why are there no altcoins that can replace Bitcoin? - page 3.

Sebas.tian

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The crypto market become known because of Bitcoin, not altcoins. And the reason why no altcoins will replace Bitcoin and that was because no one is capable of it. None from these altcoins will even have an influence more than Bitcoin. In fact, if we take a look at the market demand, it is obvious that Bitcoin is in the lead.

So many things that Bitcoin couldn't be replaced by any of these altcoins
* trading volume
* potential
* market price
* as first cryptocurreny created

I agree with you, bitcoin can never be replaced by any altcoins because bitcoin still remain the king among other cryptocurrencies in the community. Bitcoin is more popular in the community than altcoins because whenever bitcoin price is increasing in the crypto market, then altcoins price will be increasing too, show that bitcoin is more potential than altcoins. Many investors are still making a huge amount of money from bitcoin investment than altcoins investment because altcoins price is not too stable for both long and short term investors to make a good profit from the market.

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The right analogy, it is true that Bitcoin is difficult to replace by Altcoins because in terms of performance Bitcoin is far superior to Altcoins. Besides that, the popularity of Bitcoin as the first crypto that exists is also an attraction for some people who like popularity. Moreover, the fantastic value of Bitcoin Of course, many people are more after Bitcoin than Altcoins. People's fears if BItcoin suddenly disappears also began to be buried because it can be proven that until now BItoin can still survive even its performance is considered to be getting better every year, so I also think Bitcoin has a longer period of time than some Altcoins that often appear but suddenly just stuck even disappear.

suzanne5223

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I don't know why some people are still surprised why there's no altcoin that can replace Bitcoin when the name given to them said it all.
For better understanding, Alt means alternative and in other words, is called second or non-standard and if we check it very well altcoin standard cant be compared to Bitcoin cause they all imitate Bitcoin concept.
Nevertheless, one thing about the crypto market is that the first project to introduce a concept into the market the project crypto enthusiast will trust the most.

Ozero

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Quote from: Tony116 on March 27, 2022, 05:40:28 AM

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

Here, first of all, it is necessary to clarify what is meant by the word "replace", because the appearance on the market of altcoins with better characteristics does not lead to the automatic disappearance of bitcoin. The replacement process can be viewed in terms of increasing the price, capitalization, number of wallets, and so on. I do not think that appearing on this market, altcoins set such a task. At the same time, it cannot be denied that altcoins are now developing very well, new useful areas of their activity are constantly appearing. It is too early to say that bitcoin is irreplaceable. We do not know what will happen to the cryptocurrency in a few decades. In the meantime, you should not oppose bitcoin and altcoins. Let them develop together and this market becomes more and more reliable and useful for people.

LUCKMCFLY

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I believe that such an altcoin will never exist, firstly because no altcoin has a life of its own and secondly because BTC is the only reliable currency and that it has more than 10 years of history, in addition to all altcoins depending on the movements of BTC, that is, there is no no scenario that this can be possible. In some countries they can create their own cryptocurrencies or their own stablecoins, but they will never have the acceptance that BTC has worldwide, much less the community and acceptance that is currently being captured.

AicecreaME

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Quote from: Tony116 on March 27, 2022, 05:40:28 AM

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

Bitcoin is considered the pioneer and founding coin of all cryptocurrency. Among all other coins, bitcoin stand out the most because of its features that others don't have such as its volatility rate, decentralization, its uses, and its competency against the flow of time. Which is why most often people say that bitcoin already withstood the test of time, in which most coins in the same timeline with bitcoin didn't survive.

Personally, I think there would come a time that bitcoin will have its greatest competition and probably has the possibility to lose the spot of being the top 1 above all. However, I don't really see it happening soon because as of now, the coins might be competitive, but it still lack on some part and its innovation still needs improvement. Those coins in par with bitcoin could possibly be the center of the light in the future, if they would surpass all bitcoin has to offer. Although, i think it would still take a long time for that, and bitcoin will still continue to reign despite all soaring crypto coins nowadays due to nice projects and background.

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Quote from: romero121 on April 03, 2022, 06:13:57 PM

Yes, this is the reality. Once ethereum dominance on the market kept on increasing whereas the dominance of bitcoin kept falling. Those are days when it is talked about the hard competence. Then onwards there is nothing to compete bitcoin for various reasons. Ethereum with its popularity as the dominant altcoin in the market have took a strong place. For now ethereum holds its position and it can't make any changes with bitcoin market.

I think you can't compare Ethereum and Bitcoin. Bitcoin is more of a digital gold while Ethereum is more of a digital resource. That's why I don't think they can replace each other. I rather see both as the players in their field. So the question should be more like this: Why can't Altcoins replace Bitcoin and why can't platform tokens replace Ethereum?

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Quote from: GeorgeJohn on April 02, 2022, 06:24:52 PM

Quote from: AmoreJaz on April 02, 2022, 06:10:35 PM

the reality is even noncrypto users, when you ask if they know crypto, and they will most probably answer back, is it bitcoin? most people, in one way or another, have encountered the term bitcoin. but when you try to mention other alts, ethereum may be popular but with other alts, they will think twice what's the difference or what are those alts for? indeed, up until now, bitcoin is the very first in mind not only with crypto users as well as noncrypto users. hard to beat that popularity spanning more than a decade already.

Yes, Ethereum as one of topmost altcoins has dispensed the information of altcoins, but it's known by people who knows cryptocurrency very well, but some elements of people or category of people who are newbies into cryptocurrency industry don't have the pre knowledge of Ethereum because what dominate the ground is bitcoin and the name has circulates round the corners, so in summary, some of the starter of cryptocurrency investor dont know Ethereum, their focus goes directly to bitcoin.

Yes, this is the reality. Once ethereum dominance on the market kept on increasing whereas the dominance of bitcoin kept falling. Those are days when it is talked about the hard competence. Then onwards there is nothing to compete bitcoin for various reasons. Ethereum with its popularity as the dominant altcoin in the market have took a strong place. For now ethereum holds its position and it can't make any changes with bitcoin market.

People are aware of bitcoin, because it is the one that is being talked by any news source whenever something is being broadcast about cryptocurrency. Another thing is the usage and acceptance. There is no other cryptocurrency that have been accepted and getting used similar to fiat on different needs.

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Quote from: Sled on April 03, 2022, 09:13:13 AM

The crypto market become known because of Bitcoin, not altcoins. And the reason why no altcoins will replace Bitcoin and that was because no one is capable of it. None from these altcoins will even have an influence more than Bitcoin. In fact, if we take a look at the market demand, it is obvious that Bitcoin is in the lead.

So many things that Bitcoin couldn't be replaced by any of these altcoins
* trading volume
* potential
* market price
* as first cryptocurreny created

Well you have a point about this and I want to add something.
^{[safe haven asset and privacy]} are also the most thing that people wanted to use in this network because of the decentralization that made no one control it. There is no single altcoin that can replace bitcoin, that is why bitcoin will remain on the top and even ethereum cannot do of what bitcoin has even though they had different functions.

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Quote from: The Cryptovator on March 27, 2022, 08:07:24 AM

The main reason is true decentralization, there are a few good altcoins around the market but not truly decentralized. They likely decentralized functionally on the chain, but not overall. Bitcoin is the mother coin backed by the worldwide Bitcoin community and investors that no altcoin succeed to build. That's the reason still now no altcoin replaced Bitcoin. Not sure about the Future, there would be a more powerful cryptocurrency with the latest technologies that would replace Bitcoin. But there is a matter of community that we can't ignore. It will play a major role in replacing Bitcoin.

Altcoins are more on alternatives for bitcoin so it won't totally replace bitcoin in the long run. And to think that people love the freedom they found in bitcoin, then there's no reason that they would stick to altcoins as they are more centralized. However, we don't hold the future so there are still chances that an altcoin could somehow replace bitcoin. But for now, bitcoin has always dominate the crypto market and even fills the community with huge bitcoin users and owners.

Slow death

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Quote from: Tony116 on March 27, 2022, 05:40:28 AM

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.

the gold situation is completely different from the bitcoin situation, eventually there will be something better than bitcoin and that is something inevitable that happens

Quote from: Tony116 on March 27, 2022, 05:40:28 AM

So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

look to the future Is obviously there will be an altcoin that will surpass bitcoin, this issue of electricity consumption is a big disadvantage that bitcoin has, but in the future there will be some altcoin that will surpass bitcoin, it just needs to be some truly decentralized altcoin with an anonymous creditor is safe and does not waste electricity you will see people running to use this altcoin

Sled

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The crypto market become known because of Bitcoin, not altcoins. And the reason why no altcoins will replace Bitcoin and that was because no one is capable of it. None from these altcoins will even have an influence more than Bitcoin. In fact, if we take a look at the market demand, it is obvious that Bitcoin is in the lead.

So many things that Bitcoin couldn't be replaced by any of these altcoins
* trading volume
* potential
* market price
* as first cryptocurreny created

oudomopo

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The reason why no altcoin surpass bitcoin is that Bitcoin is more popular and a lot of people heard of it. It has more investors, more miners, and the cryptocurrency created the birth of the blockchain. Ethereum is the 2nd most valuable cryptocurrency and the most popular altcoin. The month of the first half of November is the golden age for Bitcoin and ethereum. The closest that ethereum would surpass bitcoin when ethereum was close to half of the value of bitcoin's market cap. Bitcoin was about $1.5 trillion in market cap while ethereum's market cap was $600 billion. Right now, Bitcoin's market cap is about $800.5 billion while ethereum's market cap is about $400 Billion. 2022 is the year that we experienced another crypto recession and this year was chaotic. So there is a small chance that ethereum could's surpass bitcoin's value. My favorite cryptocurrency is Bitcoin right now and hopefully it won't het surpassed by other altcoins. If bitcoin can reach at least the price of $95,239, then it's market cap would soar past 2 trillion. Ethereum needs to reach $8,334 to pass $1 trillion in market cap. Hopefully Bitcoin would surpass $2 trillion by 2023.

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Quote from: AmoreJaz on April 02, 2022, 06:10:35 PM

the reality is even noncrypto users, when you ask if they know crypto, and they will most probably answer back, is it bitcoin? most people, in one way or another, have encountered the term bitcoin. but when you try to mention other alts, ethereum may be popular but with other alts, they will think twice what's the difference or what are those alts for? indeed, up until now, bitcoin is the very first in mind not only with crypto users as well as noncrypto users. hard to beat that popularity spanning more than a decade already.

Yes, Ethereum as one of topmost altcoins has dispensed the information of altcoins, but it's known by people who knows cryptocurrency very well, but some elements of people or category of people who are newbies into cryptocurrency industry don't have the pre knowledge of Ethereum because what dominate the ground is bitcoin and the name has circulates round the corners, so in summary, some of the starter of cryptocurrency investor dont know Ethereum, their focus goes directly to bitcoin.

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Quote from: GeorgeJohn on April 02, 2022, 05:40:44 PM

Quote from: ultrloa on April 02, 2022, 05:29:00 PM

They are not totally under with bitcoin but they are over shadowed by the fame of bitcoin since when people talk about crypto bitcoin will
go first to be discussed so as long as there's no other altcoin will defeat its fame and trust to its institutional investor we can say for now that there's no other altcoin around will replace bitcoin.

it's very obvious that Bitcoin gives rise of altcoins, because is quit comprehendable and understandable that without the existence of bitcoin today altcoins won't have gain values, and according to your own point of view via bitcoin and altcoins, i want you to answer me categorically while without the acceleration or elevation of bitcoin in cryptocurrency market sphere, altcoins will not on their own get potential acceleration in market? I need just two reasons.

the reality is even noncrypto users, when you ask if they know crypto, and they will most probably answer back, is it bitcoin? most people, in one way or another, have encountered the term bitcoin. but when you try to mention other alts, ethereum may be popular but with other alts, they will think twice what's the difference or what are those alts for? indeed, up until now, bitcoin is the very first in mind not only with crypto users as well as noncrypto users. hard to beat that popularity spanning more than a decade already.

GeorgeJohn

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Quote from: ultrloa on April 02, 2022, 05:29:00 PM

They are not totally under with bitcoin but they are over shadowed by the fame of bitcoin since when people talk about crypto bitcoin will
go first to be discussed so as long as there's no other altcoin will defeat its fame and trust to its institutional investor we can say for now that there's no other altcoin around will replace bitcoin.

it's very obvious that Bitcoin gives rise of altcoins, because is quit comprehendable and understandable that without the existence of bitcoin today altcoins won't have gain values, and according to your own point of view via bitcoin and altcoins, i want you to answer me categorically while without the acceleration or elevation of bitcoin in cryptocurrency market sphere, altcoins will not on their own get potential acceleration in market? I need just two reasons.

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Quote from: GeorgeJohn on April 02, 2022, 05:10:48 PM

Quote from: Anguwa on March 27, 2022, 07:42:28 AM

Bitcoin is the most reliable cryptocurrency and has been the pioneer of blockchain technology, altcoins are produced based on the benchmark bitcoin built for cryptocurrency. So, while there have been innovations developed by altcoins in different blockchains that have solved some of the challenges bitcoin is attempting to tackle, I don't believe any altcoin can completely replace Bitcoin.

You are absolutely correct, while no altcoins will supercedes the values of bitcoin is because their are under Bitcoin and bitcoin has more relative abundance than any of them, as you said that they are reliable, "yes" because during investment bitcoin can only decreased in value but can't give off in the market, while some altcoins can be rusticated in the line of prolonged investment, so if replacement of bitcoin to altcoins will take place is not something of twenty years time

They are not totally under with bitcoin but they are over shadowed by the fame of bitcoin since when people talk about crypto bitcoin will go first to be discussed so as long as there's no other altcoin will defeat its fame and trust to its institutional investor we can say for now that there's no other altcoin around will replace bitcoin.

And all of them will just follow how bitcoin pump and how it dumps.

GeorgeJohn

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Quote from: Anguwa on March 27, 2022, 07:42:28 AM

Bitcoin is the most reliable cryptocurrency and has been the pioneer of blockchain technology, altcoins are produced based on the benchmark bitcoin built for cryptocurrency. So, while there have been innovations developed by altcoins in different blockchains that have solved some of the challenges bitcoin is attempting to tackle, I don't believe any altcoin can completely replace Bitcoin.

You are absolutely correct, while no altcoins will supercedes the values of bitcoin is because their are under Bitcoin and bitcoin has more relative abundance than any of them, as you said that they are reliable, "yes" because during investment bitcoin can only decreased in value but can't give off in the market, while some altcoins can be rusticated in the line of prolonged investment, so if replacement of bitcoin to altcoins will take place is not something of twenty years time

laurenB7742

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Because most of the altcoins are created from bitcoin, and controlled by a specific organization.
The base of most altcoins is not as strong as that of bitcoin, and a small number of altcoins are formed from the fork of bitcoin.

So tell me, who will people trust more?

Who is Bitcoin or those who were created much later? Bitcoin, of course.

Besides, altcoins are somehow seemed like custodial services, Bitcoin is the only coin that is most trustworthy.

stepwilli

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It is the first cryptocurrency and when something is the first, it is always very hard for it to be beaten by others that comes after it. There are so many cryptocurrencies in the market , we have over ten thousands of them today, but to me I do not think that any of these cryptocurrencies would be able to take over and become the number one cryptocurrency in the market.

I see it that Bitcoin is still going to stay as the number one, while other cryptocurrencies are just going to be there as an alternative. And yes we all know that all these alternative cryptocurrencies were released to be a better version of Bitcoin and offer features that is not available in Bitcoin, but despite all that Bitcoin still stays at the top.

Topic: Why are there no altcoins that can replace Bitcoin? - page 3. (Read 1096 times)