Topic: Why hasn't any altcoin replaced bitcoin? - page 13. (Read 3478 times)

Bitcoin has been developed a lot and it has been considered as the king of all crypto. Just look how the price grew when it was first developed until now. A lot of people are watching over bitcoin price. I think no altcoin can surpass bitcoin in regards to popularity.

Its just a replica of Bitcoin, no other cryptocurrency will be equal to bitcoin. bitcoin created a lot of history for itself, and we all see that. We all see how great it is to be replace by some altcoin for some reason.

Altcoin is a bridge for everyone to get Bitcoin for free or trade, so I think to replace Bitcoin is very difficult, because most people already believe in Bitcoin very much and of course the price is very high even though at the moment, Bitcoin prices are low, at least the price of Bitcoin is not comparable to prices in 2013, so that's why I think why Bitcoin will never be replaced by Altcoin which has a great power in it ...

Bitcoin is a trusted coin in cryptocurrency and bitcoin popularity continues to increase compared to Altcoin, and besides that bitcoin is the first digital coin in the world and Altcoin is just an alternative coin that wants to follow the development of bitcoin, so for whatever reason Altcoin won't be able to change the position of bitcoin and bitcoin is the father of cryptocurrency and Altcoin is his children.

While there are a lot of speculations going by that altcoins cannot take over and replace bitcoins simply because they are just derivatives, and of course, alternative coins, I would like to disagree because the industry has shown us time and time again that anything can most likely happen, and the possibility of altcoins replacing bitcoins can not be overlooked.

Exactly. While Bitcoin may have its limitations, it's still the dominant cryptocurrency because it's been the first which started this movement. No other altcoin can match Bitcoin's branding recognition within the mainstream world. After all, the pioneer cryptocurrency has a proven track-record of security and stability over the years. Many altcoins have useful features but are not as secure as Bitcoin. For this and many other reasons, not a single altcoin has been able to replace Bitcoin today.

Of course, everything will depend on the level of demand and usefulness of a specific cryptocurrency. If an altcoin manages to gather a large number of people into it, delivering a rock-solid blockchain network to the world, then it could rival Bitcoin within the crypto market. Additionally, such altcoin needs to be deflationary by design if it wants to gain higher prices than Bitcoin over time. I believe that Litecoin is an altcoin that’s very close to Bitcoin in this sense, but it lacks true innovation. Most of its development is nearly the same as Bitcoin’s, as Litecoin copies its footsteps every step of way. It's even used as experimental grounds for Bitcoin nowadays.

Nonetheless, with Bitcoin growing every step of the way, it becomes much harder for altcoins to replace it in the future. Something big needs to happen for Bitcoin to take down its place as the world's largest cryptocurrency by market cap. In the meantime, Bitcoin will continue to prevail being the reserve cryptocurrency of the market for years to come. Just my thoughts

Because we haven't any altcoins that back by giant company yet, and once that happens bitcoin will face his first real competitor and we might see the bitcoin get beaten in term of market domination and usage. Libra would probably take over if governments allow facebook to go in its direction without limitation to become a currency that can be used by people all over the world. At the end of day, most people just a currency that they could move easily, they don't that much on other stuff, just see how they prefer to use centralized exchange over decentralized. having that said, bitcoin will play the rule of gold in future, I don't see it to be a currency that will used to purchase our daily needs.

You're wrong. Bitcoin is the father of all the coins here and altcoins are just clones from bitcoin, having its name Altcoins that means Alternative coins, they are clones and forks according to the article that I've read in quora, in Math, bitcoin is the original equation and Altcoins are just the derived equations from it, without bitcoin, blockchain and all of other cryptocurrencies would not exist.

so it is accurate to assume that altcoins could never replaced bitcoin, ever, but I've seen many that tried so far to do this *sighs*

The altcoin has owners, they change things, for their every statement price can go up or down! They reserve huge money for their developers, even they don't want to overcome Bitcoin, which is not possible though. Some altcoin project claimed they are making a better coin than Bitcoin, those projects are failed/dead badly! But Bitcoin has not that type owner, this is a great technology managed by the people, no governments rules, no CEO rules here. Bitcoin is a flag of true decentralization, true freedom. So, no one other coins can get this high popularity. Bitcoin will remain the unreplaceable digital asset, the King of crypto!

Simply because bitcoin got the trust of each and everyone who invest on it and account also those whales that the intention is to manipulate to market to bag tons on money everytime they pump and dump the prices.it  is hard to admit but Bitcoin has been being abused by riches and the small investors mostly the victims.

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But in totality?the reason why there’s no altcoin replacing bitcoin?because nothing can outgrow the popularity of this Blockchain based currency

Basically, people always find a credible and trendy thing, you can't even suggest a thing which has no credibility that's why we try to keep on an established platform, for me, Bitcoin has already been an established platform and other Alts try to follow BTC still now. If you make a good impression in the market you must have the guts and the guts come from the position what you have. If you build a platform then you must be the pioneer of this way, Bitcoin is such like this. another thing is the acceptability around the world. I think no Alts will replace the Bitcoin but they could exist for a long time. ETH & XRP has chance to get popularity like bitcoin.

Maybe it is because bitcoin is the root of all?Bitcoin is still the main topic whenever we talk about cryptocurrency no matter how many coins are issued with more advance security and features than bitcoin.Bitcoin being the first one plays a big factor on why it is still not being replaced at top by some altcoins.

The Bitcoin community is the largest by far, and the technology of Bitcoin is the most developed... It is 5 years ahead of any other cryptocurrency, and this is why Bitcoin is still dominating the crypto-currency market.

Bitcoin is the first crypto coin and is the strongest coin, and as the most popular coin of course bitcoin will not be easily swiped by altcoin.

The popularity of BTC makes people believe its the best one. People think Btc more reliable than the altcoins in the market. Many people doesn’t even know the difference between some Alts, so they tend to believe all Alts are same. And we can’t deny many of alts are useless. I mean, many of them don’t even deserve the hype. So they disappear in short term. In this case, i don’t expect people to adopt the Alts enough to compete with BTC. It seems like bitcoin will stay as number one cryptocurrency in near future.

There are several alts that ARE better than btc when it comes to usage. Though if you're looking for one that would overthrow btc's dominance, i doubt you'll find one. Back then people were looking at ether to be the next in line. Then came alts like ripple and bch that challenged eth as the number 2 alt. I guess unless people understand what crypto is entirely, they'll see it mainly as bitcoin.

What I think is, the popularity of bitcoin is still in the line. many people see cryptocurrency = Bitcoin. the not enough knowledge base on what is cryptocurrency is still the factor on that. Because there's a several alts that is actually a good one, I can say that EOS and ETH have a potential to replace bitcoin for being first, but yet people still choosing bitcoin because simply bitcoin is the first cryptocurrency.

It's pretty different from technological developments. Basically it's money and a money which got a first mover advantage. Think of it as USD of cryptocurrencies. It is quite old and many new currencies and economies have been built after that but they aren't able to take over USD in the world's market cap. Or think of it as some brand like Coca Cola which has got a first mover advantage in it's industry. Bitcoin has that same first mover advantage and people know cryptocurrencies because of bitcoin. This is the reason why no altcoin has replaced bitcoin. It was pretty late until any altcoin was developed BTC has already gathered a lot of heat so it remains the mainstream currency but this doesn't means it can never be replaced any new innovation which is popularized even more than btc can surpass BTC in future.

because it's a matter of trust
technology is usually replaced with a new one because people believe the technology is improving and better than before, be it television, cars, smartphones and so on

but bitcoin is not just a matter of technology, but trust, how many people make altcoin but we don't know which one can be trusted

but everyone who enters the world of cryptocurrency believes in bitcoin because we know bitcoin is 10 years old and never dies, and every alt depends on bitcoin which makes it always alive

don't gold and silver come before paper money? and until now people still believe in gold and silver

because the first bitcoin cryptocurrency made it impossible for any coin to stop bitcoin or replace bitcoin will never happen because the first digital bitcoin asset that many people use in the world so they will always use bitcoin, and if there are coins that can replacing bitcoin still, they will always use bitcoin as their assets and bitcoin will not happen