Topic: Why are there no altcoins that can replace Bitcoin? - page 7. (Read 1111 times)

Well, there's more to just saying gold is a valuable metal. In the financial world gold has been made valuable because it was connected to the dollar (rather that's why it's still valuable today). The thing with altcoins is that there really is no need for a takeover in that sense. Most altcoins actually provide something different than BTC has to offer and in that sense are not competing with it, but coexisting with it.

Bitcoin has stand the test of time, Security, store of , money , scarcity, inflation hedge etc.
I will also say too, that this is how the algorithm was programed for Bitcoin to be King of other digital currency because almost every other Cryptocurrency is influenced by Bitcoin's movement,  If Bitcoin falls almost every other crypto falls verse versa.

I think you have it very wrong and other cryptocurrencies will surpass Bitcoin eventually. It might not happen in the next ten years, but there are plenty of technologies out there which improve upon the standards that Bitcoin laid down. It's more like comparing a 28k modem versus fiber optic internet connections - the first iterations of the internet at much slower speeds were incrementally improved over time to allow much greater capacity. There are some inherent limitations that only other versions of cryptocurrency have the ability to change. Network capacity, speed, energy usage and transaction fees have improved over time but they need to keep dropping to compete with existing payment networks.

There is no altcoins that can replace bitcoin simply because altcoins only serve as an alternative coins, the main coin will always be bitcoin. And because of its own decentralized nature, people even love it more. Unlike altcoins that are mostly centralized so its never a good preference for us. And because bitcoin has the most expensive price, enough to dominate the whole crypto market. So if you aim for a huge reward from an investment, you must also pay its expensive price.

We cant predict the future on what it would look like but we couldnt just deny that Bitcoin is really been mainly supported which is something not surprising.Not only the first but also this one had
started out in overall cryptocurrencies existence which do materialized out and make it a functional utility in terms of decentralized payment which the community do mostly or greatly appreciate it.

Even though there are lots of coins or alts in the market which do works more better and bit superior in terms of functionality and application but still people could not just
simply reject nor ignore the importance of bitcoins existence but we wont know on how long it would be sitting on number #1 spot.

Because,


Only Bitcoin is truly decentralized,
Only Bitcoin is leaderless,
Only Bitcoin is money,
Only Bitcoin has global-level security,
Only Bitcoin has a consistent immutable monetary policy,
Only Bitcoin is widely trusted.


Bitcoin is unique in the crypto world and no altcoin even comes close to Bitcoin in a variety of ways. Altcoins are essentially all corporate products sold and issued as fundraising for the company, and the product's main objective is to make apps and they focus on this app functionality instead of on immutability, decentralization, security, etc. That's extremely different than what Bitcoin is. Bitcoin is money, altcoins are apps.

And even for the few that sorta tried to be like Bitcoin, there's no need for a second global money so they failed (this is why LTC is no longer relevant), while some realized it was pointless to try to compete with Bitcoin so they tried to pivot from money to the app space that all other altcoins are focused on and they just ended up failing in that space too because they are taking a failed product to compete in a space that already has plenty of competition.


They only way to even attempt to make another thing like Bitcoin would be to mimmick how Bitcoin started - no company, no pre-sell, no coins held for advertising and partnerships and the team and so on, likely no Proof of Stake or similar mechanisims, no sacrificing decentralization to gain a bit of functionality, and no founder or central figure, while being very easy to run nodes on common househould hardware. And even if all that was done (which nobody is trying to do because the people interested in making new coins are doing it to get rich, ie build a company) that new coin would have to somehow outcompete Bitcoin which is already globally recognized as the one and only digital money and has global recognition and support, so it would be a impossibly losing battle right from the start.

So instead people focus on making the next round of apps in this new market space and trying to get rich off their corporate product.

Bitcoin is the benchmark among cryptocurrencies, the pioneer. It will always be a market legislator, it will always be valued more, better, and more willing to invest in it. How many of these bitcoin killers have already been invented? Can't count. They try to lure us with low commissions, speed of transactions, privacy and other things. But no altcoin will ever replicate the success and acceptance of bitcoin. Altcoins can be useful for some specific tasks when interacting with the crypto industry, no more. For full-fledged superiority, there is very little of that. Although some argue that ETH will become the number 1 cryptocurrency for the foreseeable future.

Gold is a store of value for centuries and millennium and many of the kings viewed it as a benchmark for wealth and prosperity. Gold is high in demand as a store of value and in times of inflation, investors will jump into gold to store their value than investing in any other volatile market.

The reason you see majority of the investment coming into the cryptocurrency space is simply because of the hype and not because they researched about the fundamentals and i am saying this simply because there is no reason why some of the shit coins rallied will not making any sense . The reason is that money is flowing where there is a hype and not looking at the fundamentals.

Bitcoin is unique and it has some extra features. People trust Bitcoin more than any other coin. Bitcoin is one of the most popular and well known crypto in the world. Who are familiar with crypto, he should know about Bitcoin first.

Gold is far from being the most expensive metal per unit of weight. Gold is simply the most common store of value among metals because it's not in high demand for any industry and its supply hits the sweet spot where it isn't too common and easily found, but also not too scarce so a lot of people can own it.

Bitcoin is an entirely different story. It's simply the best coin, because it has the highest PoW, the biggest community, the highest adoption, and its core goal is to be secure and decentralized, while its competitors have abandoned this goal, and it comes to bite them back when they get hacked or attacked.

Bitcoin has built a strong foundation of trust, especially for most investors because it has proven lots of things for years. It's being adapted and used in many ways almost around the world and has achieved lots of achievements. These are the things that altcoins should establish before they could replace Bitcoin. BTC as the father of cryptocurrencies has passed all the tests of time.

what you say is the truth...Bitcoin can't be replaced by any altcoin.  Bitcoin is the creation of satoshi, people are already in love with this first cryptocurrency.  besides being purely a decentralized asset, the amount of Bitcoin also cannot be manipulated, Bitcoin is king.

I don't think the comparison with gold is 100% accurate. Steel, for example, is much more abundant, and being scarce is one of the reasons gold is valued. Of course, it's not the only reason because something can be very scarce but not of interest to anyone either, but still.
No altcoins replaced Bitcoin because they're not good enough to be an obvious improvement over Bitcoin. They can have some features which allow making things Bitcoin doesn't, but Bitcoin is good enough as a currency, and  as a form of investment, to not be replaced.

Sorry to be a bit pedantic, but while gold might be number 1 in an iconic sense, in terms of actual value, it isn't.  Palladium and Rhodium are considered more valuable.

It's a different situation with Bitcoin, though.  One of the biggest factors behind its superiority lies in network effects.  In essence, the more people who use it, the more utility it has.  It's not something other coins can easily replicate.  Essentially, unless Bitcoin has any serious technical issues in future, there's not much which would put a dent in the number of people who use Bitcoin, so the number is likely to grow larger in future.  Other coins might fill niches that Bitcoin doesn't cater to, but there's nothing out there that could easily replace Bitcoin.

However, some altcoins that have been recognized and have a good future can certainly compete with bitcoin, but in the quotes "Nothing Can Replace Bitcoin", Bitcoin remains the main one, because all altcoins are born from bitcoin, from the source code that was developed so that until now many altcoins are starting to appear.

Currently, what cannot be trusted are coins whose founders and goals are not clear, because they will only become trash coins without any development.

Bitcoin is the main reference, Bitcoin is not regulated by anyone and Bitcoin is a very valuable digital currency today.

Since the success of bitcoin, now many other coins have appeared, such as altcoins and cash coins, but until now no one has been able to replace bitcoin, in fact the presence of altcoins is to cover the shortage of bitcoin, not to compete with bitcoin, because altcoins have a smaller capacity in compare with bitcoin, so it is very difficult for altcoins to match bitcoin, which already has a very wide capacity.

Yes, market cap matters here if we talk about it here. The market cap of Bitcoin is already telling you why there is no one can replace Bitcoin.
I believe that since the beginning when Bitcoin started, no other cryptocurrency or altcoins surpassed the Bitcoin market cap even in just a matter of seconds.

So overall, as long as the Bitcoin network will continue to work and people still can use it, no other altcoins will replace Bitoin.

In your Opinion, no altcoins can replace btc.
And on BTC talk, many follow the same opinion.

The rest of the world has no restriction to follow that opinion.  

Others care more for real-world performance than dogmatic faith in an outdated tech product named btc.
But that is just another opinion.    

I think this is because of the trust factor that drives bitcoin as an investment destination. Actually, in investing, investor trust is the main thing, with limited supply and most importantly standing in the world of cryptocurrency, so it's no wonder that bitcoin is the parent of altcoins, and in this case I think that no altcoin will ever be able to replace it. if we look at the bitcoin marketcap, of course it dominates very large adrift

After I read your topic, I remember reading about: 4 Cryptocurrencies That Could Replace Bitcoin, after finishing reading the sources above, there are two conclusions I can draw that are absolutely ridiculous.
1. a picture, if, in the future, suppose, really nothing can replace Bitcoin.
The 2nd one.
Really, there is no answer to the OP's question, meaning: Bitcoin, king over king.