Topic: Why are there no altcoins that can replace Bitcoin? - page 8. (Read 1096 times)
Bitcoin remains to be irreplaceable at this point as it holds a symbolic position to help tell the world where cryptocurrencies all started from, and I think the top two coins do represent this history well ,btw the rankings aren't based on time of creation either. And in terms of dethroning bitcoin it has to take some form of consensus by the crypto world to allow this to happen but for now this ain't happening.
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.
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.
Remember that the creation of all altcoins was based on the foundation that Bitcoin built on this innovative transaction method. Though there are some altcoins which introduced some innovations and technology that may try to replace BTC as the reigning crypto, the latter is still far superior.
In addition, it all boils down to the price and usage of such. While there may be altcoins that have functions that Bitcoin does not have, the fact that people still utilize and purchase the latter means that its price and usage would continue to outgrow any altcoin/s in the market.
I'm just paying attention to the fact that after bitcoin, people don't believe in altcoins created by a pseudo-anonymous.
The basic weakness of altcoins in general is the exposed founders. Interested parties can create other "rules" that pressure the founders to change their coin base network protocol to a more centralized one. Blockchain may be decentralized, founders can still be regulated.
The basic weakness of altcoins in general is the exposed founders. Interested parties can create other "rules" that pressure the founders to change their coin base network protocol to a more centralized one. Blockchain may be decentralized, founders can still be regulated.
Bitcoin been the primary use of crypto investors before they can think of other altcoins to invest with. Most of the exchanges accepts bitcoin unlike in altcoins that not all exchange accepts it. Knowing that bitcoin can do what other altcoins can make it superior as well the decentralization as well history it already proven to gain profit despite the pump and bump of the market. The transactions were easier same with its adoption.
Whoever made this claim was wrong or you may have misunderstood them.
There can be an altcoin that replaces bitcoin someday but there is so far there isn't a single altcoin that can even come close, simply because they lack utility and innovation.
All these big coins like ETH, XRP, ... have serious flaws and were made mainly to let their creators make tremendous amount of money by ripping people off.
There can be an altcoin that replaces bitcoin someday but there is so far there isn't a single altcoin that can even come close, simply because they lack utility and innovation.
All these big coins like ETH, XRP, ... have serious flaws and were made mainly to let their creators make tremendous amount of money by ripping people off.
I do believe that same flaw is being copied by others and they are now making shit projects all the time. Who knows side by side Vitalik might be faking 100's of projects to collect millions of dollars. Who knows he might be reading our posts right now and smiling at his desk.
Honestly, bitcoin was first in the race and eventually bitcoin will end this race. There is few % chance of any altcoin which will replace bitcoin. The main reason is bitcoin's authenticity and originality.
Everyone entering into the crypto market have always made their mindset as - altcoins are poor way to invest, the projects could be scams, invest at your own risk kinda thoughts. However, bitcoin is name of trust, so its not going anywhere and it will always get invested no matter what.
Well, as much as I'd to actually agree and push this thought as well being a huge fan of bitcoin, we just can never deby the fact that with each passing day, new things happen and many variables are created changed or rid off. Which is why none of us can really say for sure that bitcoin will stay on top forever no matter how much ut may seem like it today. Because clearly speaking, there are altcoins out there that can serve the same purpose with some better use cases. Just saying.
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.
It is also a lot about perception.
Good or bad, right or wrong for a lot of people they see all the alts as copycats.
Some might even have better features or a better way of doing things but in the end there will always be someone shouting it's not Bitcoin.
-Dave
Good or bad, right or wrong for a lot of people they see all the alts as copycats.
Some might even have better features or a better way of doing things but in the end there will always be someone shouting it's not Bitcoin.
-Dave
If you ask me, some of the altcoins that you're mentioning probably have more utility than bitcoin has, I mean look at ethereum, they probably have more projects attached to them compared to bitcoin. Yes bitcoin is valuable but it has to show that it's valuable eventually, right now, I believe it's just banking on the fact that it's the pioneer.
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.
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.
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.
It has several factors in my option:
1) Bitcoin was the first and most famous and also the most supported coin
2) Bitcoin is limited
3) Bitcoin is the most decentralized and thus secure project of those you mentioned. This creates trust
4) And finally, another factor that should not be ignored: The mystery surrounding Satoshi
Bitcoin is like a gold standard in blockchain industry and crypto market.
Altcoins can bring bigger or smaller total supply, faster transaction speed but VTPS is more important than TPS
Altcoins are not decentralized like Bitcoin. Will they be able to be decentralized? I don't know but it sounds impossible. Nowadays, founders or projects are doxed so you can not call them decentralized because with the lack of decentralization on their network and when doxed founders found, get caught, etc. their network might be fallen under risk of weird requirements from governments.
No joke https://twitter.com/Excellion/status/1333966283876954113
Altcoins can bring bigger or smaller total supply, faster transaction speed but VTPS is more important than TPS
Altcoins are not decentralized like Bitcoin. Will they be able to be decentralized? I don't know but it sounds impossible. Nowadays, founders or projects are doxed so you can not call them decentralized because with the lack of decentralization on their network and when doxed founders found, get caught, etc. their network might be fallen under risk of weird requirements from governments.
No joke https://twitter.com/Excellion/status/1333966283876954113
Because only Bitcoin is decentralized and that, among many other features, makes it unique. People have recognized this over the years, and those who believed that some new crypto king would emerge were not only disappointed, but also lost a lot of money. All these coins you mentioned have nothing (at least for me) superior, but they are trying to be better than Bitcoin with some innovations that most people don't need or don't understand anyway.
To be honest, everyone is looking for something to buy cheap and one day sell for a thousand times the price. This is how the entire altcoins market works.
To be honest, everyone is looking for something to buy cheap and one day sell for a thousand times the price. This is how the entire altcoins market works.
Whoever made this claim was wrong or you may have misunderstood them.
There can be an altcoin that replaces bitcoin someday but there is so far there isn't a single altcoin that can even come close, simply because they lack utility and innovation.
All these big coins like ETH, XRP, ... have serious flaws and were made mainly to let their creators make tremendous amount of money by ripping people off.
There can be an altcoin that replaces bitcoin someday but there is so far there isn't a single altcoin that can even come close, simply because they lack utility and innovation.
All these big coins like ETH, XRP, ... have serious flaws and were made mainly to let their creators make tremendous amount of money by ripping people off.
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.
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.
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