Why hasn't any altcoin replaced bitcoin?

Bitcoincc

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Quote from: Rozita on August 22, 2019, 02:14:09 PM

I think bitcoin has been one of the biggest innovations of the human in the past years. Many altcoins have been created after bitcoin. But none of them have been successful as bitcoin is. Why is that?
Why no altcoin can replace bticoin?
Every new thing and every technology is usually replaced by a newer one as the world is always developing.

The first television built was mechanical, then electronic television were invented, then colour televisions, digital, 3D, ....
The first automobiles invented were steam-powered wheeled vehicles, then electric automobiles appeared. Now we have autonomous cars. Now we have Tesla model S. Now we have Lamborghini.
All of us know about the developments made in mobile phones.

Every thing is being developed. Every device is finally replaced by a newer one. Why no altcoin has replaced bitcoin till now? Do you think it will happen in future?
I personally think people will trust what Satoshi has created more than altcoins till many years later.
Altcoins are created to make the developers rich. But bitcoin is different. Bitcoin was created in favor of us. So, no altcoin can be trusted as bitcoin.

What do you think?

The reason any altcoin has not replaced bitcoin is simply because people are demanding for it most and bitcoin demand is more than any altcoin demand.

In the future, it will also be hard for any altcoin such as ethereum and litecoin to replace bitcoin because bitcoin is a limited coin and its value will increase significantly because of this in the future.

Zemomtum

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It might take a while if such will ever happen because Bitcoin was developed based on research and testing the outcome of it. Most other alternative digital currencies have an irrational motive ahead to scam investors and not building anything that was promised in the Whitepaper. It not going to be something that will be easy like that or we can see happen suddenly if it will ever occur.

luppecuppe

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Bitcoin was released 10 years ago. In this case the first investors received bitcoin. Behind Bitcoin is a huge economic power. The Bitcoin community does not want to lose this power. Bitcoin domination on the market does not drop it far above.

taraku78

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I think it hard to replace Bitcoin with any altcoin since Bitcoin is the First and pioneer of cryptocurrency. Bitcoin is the mother of cryptocurrency based on Blockchain technologies.

drumamat

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Quote from: thirdlight on January 05, 2020, 03:47:20 PM

Quote from: gentaap01 on January 04, 2020, 05:21:37 PM

I doubt there were any real altcoin could ever become any close to btc independance tho

Even the name "altcoin" suggests that it's an alternative to something, in this case an alternative to Bitcoin, so alt can't overtake Bitcoin.

I think the success of any cryptocurrency does not depend on the name.It is possible that there will be some altcoin that can overtake bitcoin,but the fact that the bitcoin node has already been launched into space says a lot.Someone knows more than we do) So ,,buy bitcoin,,

thirdlight

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Quote from: gentaap01 on January 04, 2020, 05:21:37 PM

I doubt there were any real altcoin could ever become any close to btc independance tho

Even the name "altcoin" suggests that it's an alternative to something, in this case an alternative to Bitcoin, so alt can't overtake Bitcoin.

purebitco

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I don't know what's going to happen on crypto later. Basically what's going to happen to bitcoin and how other cryptos may substitute bitcoin. Perhaps some day there will be other more advanced innovations that can change bitcoin's status as the current king of cryptography. We never know what's going to happen in the future. Hopefully no altcoin will replace btc in the future

gentaap01

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I doubt there were any real altcoin could ever become any close to btc independance tho

Voland.V

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Quote from: Bitcoincc on January 06, 2020, 06:44:29 PM

Quote from: Rozita on August 22, 2019, 02:14:09 PM

I think bitcoin has been one of the biggest innovations of the human in the past years. Many altcoins have been created after bitcoin. But none of them have been successful as bitcoin is. Why is that?
Why no altcoin can replace bticoin?
Every new thing and every technology is usually replaced by a newer one as the world is always developing.

The first television built was mechanical, then electronic television were invented, then colour televisions, digital, 3D, ....
The first automobiles invented were steam-powered wheeled vehicles, then electric automobiles appeared. Now we have autonomous cars. Now we have Tesla model S. Now we have Lamborghini.
All of us know about the developments made in mobile phones.

Every thing is being developed. Every device is finally replaced by a newer one. Why no altcoin has replaced bitcoin till now? Do you think it will happen in future?
I personally think people will trust what Satoshi has created more than altcoins till many years later.
Altcoins are created to make the developers rich. But bitcoin is different. Bitcoin was created in favor of us. So, no altcoin can be trusted as bitcoin.

What do you think?

The reason any altcoin has not replaced bitcoin is simply because people are demanding for it most and bitcoin demand is more than any altcoin demand.

In the future, it will also be hard for any altcoin such as ethereum and litecoin to replace bitcoin because bitcoin is a limited coin and its value will increase significantly because of this in the future.

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The reason is that all of the listed technical innovations are a molding of the old, modernization and not something fundamentally new.

Bitcoin is a cryptographic product.
And in the world of cryptography and technology in this field of knowledge, it is much more difficult to think up something new and better than to make a modern laptop from a computer the size of a house.

This is a different level of difficulty.
Here the molding of the old, modernization - will not do anything.
What is needed here is real discovery, not commercial achievement, such as thin smartphones or flat-screen TVs.

Try it yourself, and you will see that it is more difficult than coming up with a computer from scratch.

pearnapple

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Bitcoin is at the core of all altcoins and should be respected, coins and their developers should avoid trying to harm Bitcoin with their false narratives and lies because if you harm Bitcoin you just harm the value of your own coin and all other altcoins. You also weaken the whole culture of cryptography. It's a very dumb game to play and at the end of the day it does nothing. However, many of the ICO and AltCoins are simply Shillcoins and Scamcoins that serve to help somebody or a community rather than showcase a technology. For all altcoins, I'm sure Bitcoin is like a grandfather and won't be replaced with anything else, but I never put anything on BTC.

universe_

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It's not even been ten years since Bitcoin's conception. Cryptocurrency is still in the phase of introduction. Bitcoin was able to take a large market share with the first mover advantage. Then due to excessive manipulation in the altcoin market, people began turning to Bitcoin more because of which BTC now dominates the overall marketcap at 70 percent. Right now, it is not that easy for any coin to take BTC's market cap to become a number one currency. But if some altcoin comes with a disruptive use case, that could happen in the future.

Voland.V

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Bitcoin will end up like a longwave radio or telegraph. First it is necessary to make it possible to make fast small transactions, purchases, say 1 second after the occurrence of such a desire, and then to see the perspective of this technology. The technology used to turn the bitcoin is only suitable for use as a place to save capital, large anonymous purchases (although this is a controversial issue, anonymity is only for simpletoners) and earning on speculative growth. These are powerful tools for raising capital in this asset, but these privileges will quickly end when an alternative is available. And there will be many alternatives soon. And what to do after the success of quantum computing, in 5 years, I do not know at all. You have to be under stress with such prospects. Is this an island of safety and tranquility?

Voland.V

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Bitcoin has an advantage over other cryptoactives because of the psychological characteristics of most people.
He's the first, he's the most promoted advertisement, he's been poured a lot of money into it. That's all. He has no other advantages.
Bitcoin cryptography is the most common and the most controversial in reliability. We're talking about digital signature based on elliptical curves. serious organizations have abandoned this cryptography since about 2015.
There's nothing else to do with it.
But a change of opinion is not far off.
There are already cryptographic currencies with good cryptography, post quantum. It's not the primitive level that Bitcoin has now.
Wait a couple more years, everybody will be announced the end of any current asymmetric cryptography to which ECC belongs and everybody will move to a currency based on XMSS and post quantum encryption methods. Such currency is already in use, but the herd psychology of the investor is still looking at "like everyone else" until the thunder comes down.

hahay

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Although it can be said that bitcoin is an old product from the cryptocurrency industry but bitcoin is still the strongest in the industry, so it is not surprising when many new altcoins are created that are still unable to replace bitcoin, because developing to be the best at least takes longer. When you compare it to electronic developments such as television, are developments occurring in a short time? So I guess it's clear, at least there will be a better technology in the future that is able to replace bitcoin and that still requires more time because the growth of bitcoin is still happening.

BuNga_cute

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Because bitcoin is too strong to be replaced, bitcoin also has a very large volume compared to altcoins. This proves that
bitcoin still gets the trust of most of the people in the crypto world. And also bitcoin already gives a lot advantages for its
users. Making bitcoin increasingly stronger, can be seen until now bitcoin still dominates the market. So it's difficult to
replace bitcoin.

Darooghe

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I think because Bitcoins decentralization is perfect, and it's proof of work that created the ledger is so monumental, it's impossible to imagine another coin that can be a lot better. Further, if a coin can replace bitcoin, then one can argue that crypto-currencies will never gain mass adoption. because if a coin comes out that is better than bitcoin, then another coin can be developed that is better than that one, and so on and so on. No one wants to store their wealth in a crypto-currency that will get replaced with another one eventually.

Assface16678

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Quote from: btccashacc on January 04, 2020, 12:26:04 PM

Actually altcoin was created as a complement to the bitcoin which is improving or presenting features that bitcoin doesn't have, but why hasn't any those coins replace it, well people trust bitcoin more than altcoin I think this is one of the reasons why they can't replace bitcoin at least for now, besides that altcoin still depends on bitcoin, people still trade altcoin for bitcoin or vice versa, it's hard to predict which altcoin will surpass bitcoin's price.

In the long run of cryptocurrency, bitcoin is one of the first coins created by a person called now as Satoshi Nakamoto, and the price of the bitcoin before is not valuable. However, still, people are using this coin to buy some things like money. After many years the price of the bitcoin growing up and gives a huge profit to the holders and they made looks like a duplicate of the bitcoin but not the same of it this we called now as alternative coins or the altcoins these coins are substitute to the bitcoin and today there are a lot of this. One thing why the altcoin cannot beat the price of the bitcoin because of the market price the altcoin must take a long year and becomes popular with the people to face the market price of the bitcoin.

btccashacc

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Actually altcoin was created as a complement to the bitcoin which is improving or presenting features that bitcoin doesn't have, but why hasn't any those coins replace it, well people trust bitcoin more than altcoin I think this is one of the reasons why they can't replace bitcoin at least for now, besides that altcoin still depends on bitcoin, people still trade altcoin for bitcoin or vice versa, it's hard to predict which altcoin will surpass bitcoin's price.

Aurora Castro

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Quote from: Rozita on August 22, 2019, 02:14:09 PM

I think bitcoin has been one of the biggest innovations of the human in the past years. Many altcoins have been created after bitcoin. But none of them have been successful as bitcoin is. Why is that?
Why no altcoin can replace bticoin?
Every new thing and every technology is usually replaced by a newer one as the world is always developing.

The first television built was mechanical, then electronic television were invented, then colour televisions, digital, 3D, ....
The first automobiles invented were steam-powered wheeled vehicles, then electric automobiles appeared. Now we have autonomous cars. Now we have Tesla model S. Now we have Lamborghini.
All of us know about the developments made in mobile phones.

Every thing is being developed. Every device is finally replaced by a newer one. Why no altcoin has replaced bitcoin till now? Do you think it will happen in future?
I personally think people will trust what Satoshi has created more than altcoins till many years later.
Altcoins are created to make the developers rich. But bitcoin is different. Bitcoin was created in favor of us. So, no altcoin can be trusted as bitcoin.

What do you think?

You are right, everything that man has created, little by little has been updated and improved, in order to meet the needs of the community, since every day we have more needs that we must meet. But in my opinion; I think that Bitcoin covers those needs, improved our quality of life and gave us security, since Bitcoin is technology and the future, so I think it could not be replaced, it is the best creation in history. Cool

Wintersoldier

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It is simple, the concept of alternative will explain it all. The reason why they are called alternative is becauss there is a cryptocurrency that is leading the way to development and these altcoins are the alternatives if ever people couln't have the chance to be use or in othe rcase they are more suited for a certain usage or aspect. If and only price is the only basis, then this concept could be flushed out, but no, twe need to acknowledge the existence of a cryptocurrency that is first enabled and opened us to the world of digital payments and transactions.

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