Topic: Why hasn't any altcoin replaced bitcoin? - page 15. (Read 3511 times)

Bitcoin is known to be the most profitable coin for now but i think it will still come to its own expiration in time. It will still lose its value because a much better coin will soon to arise and definitely replace its position. But that might happen in an indefinite time. No one can predict exactly when will bitcoin loses its value but for me, as soon as technology keeps on evolving, changes will take place and a new more developed coin will soon be invented.

The main reason why Bitcoin is still on top of other altcoins on the market today, is because of its first-mover advantage. There's no other way around it. Bitcoin has managed to gather a lot of supporters over time, which has lead it towards long-term success. Despite being limited in features, it has remained resilient and secure enough for the mainstream world to trust it. Many altcoins nowadays are less secure than Bitcoin, with an unstable Blockchain network. They're highly vulnerable against manipulations and attacks from outsiders. A good example is PoW-based cryptocurrencies that are extremely vulnerable with a small hashrate across their blockchain networks. Without real use cases for the mainstream world, altcoins will turn out to become speculative assets that will serve no purpose for everyday people.

Despite this, there's a chance for an altcoin to replace Bitcoin if it manages to gather a large number of users into it. Not to mention, it would need to be resilient against external attacks. With this, and a wealth of attractive features (mostly for scalability and privacy) it could very well rival Bitcoin within the future. But as of now, Bitcoin seems to be in the lead across the crypto market. With many altcoins falling in price at a faster rate than Bitcoin, it seems very unlikely that the pioneer cryptocurrency will become replaced sometime in the future. After all, all altcoins depend on Bitcoin as a reserve cryptocurrency one way or another. Only time will tell the of fate of Bitcoin as people make use of it within their everyday lives. Just my thoughts

Too little time has passed for this. Altcoins actually began to develop four years ago when ethereum formed. During this time, altcoins have achieved good success and many of them surpassed bitcoin in some functional indicators. In addition, bitcoin still has a tough price dominance over all altcoins, and this circumstance strongly oppresses them. Because of this, the last two years they practically do not grow in price. However, over time, the situation will inevitably change. The laws of the market will work and if Bitcoin does not develop further, it will lag.

Honestly, I believe in regards with tech firm, The first always lose just like Facebook beats Friendster. Google beats Yahoo, and many more that is beaten up because of being first.
I agree with you that bitcoin will remain at top for "now". but yeah I think a new crypto will be created that will replace the bitcoin for being top, because bitcoin didn't have a large scale update that will benefit every single user of it.
But who knows! Let's figure it out together and enjoy crypto adaptation into real world  

Oh! I see. I get your point mate. As I think of what you've said, I may say that's a possible way to knock down btc. If we assume that every government of all nation decides to ban the use of btc in their country but allow the remaining alts then it will surely die because the demand will be forcibly lost  And most probably the ending would be ETH reigning as the new king. Well, that's only an assumption and very hard to put in reality so gor now BTC will stay and remain on top .
It will be the same IMO because of the impression which are engraved in our minds — that alts/token was just made for Pump and Dump. Yeah! They will support it at first, create hype and other stuff but once they are do they'll go back again to the strongest coin in the market.

The possibility for crypto currency in the future seems limitless. There may be another alt that will beat Bitcoin on the number 1 spot, yet it will take several years before it happen. The number of adoption of Bitcoin in the market is still solid. ETH to be specific comes the closest competitor, yet It was far behind from dethroning Bitcoin yet. I know theres still plenty of room for improvements and fill those specific areas they have failed.
Massive prohibition for Bitcoin might be possible too, but banks, government agencies, and other financial firms are already  recognizing the technology.

It isn't life of their own, it is all because of the dependence. Just think of bitcoin which is valued in terms of USD. This doesn't mean it has a life of its own. There are few cryptocurrencies that have its individuality but they're not up to the level of the one that served to be the base for the entire cryptocurrency network.

I agree, Bitcoin is the currency that commands and the other altcoins depend on Bitcoin, simply because they have no life of their own. The dependence of the altcoins will always be given, there is no way other currency that can compete with Bitcoin given the history that has been presented.

I believe that Ethereum can become a direct competitor to Bitcoin and be able to get ahead of it in the cryptocurrency market.  Of course, I understand that Bitcoin is a pioneer, but cryptocurrency users in the future can evaluate Bitcoin as a rarity, and this may be its value.  And Ethereum has every chance to become a leader in the cryptocurrency market, since the speed of transactions, their value, as well as security at a very high level.

Be reminded that the blockchain is what makes bitcoin valuable as it offers endless possibilities in the application of future transactions. One of the reasons on why bitcoin continues to dominate the cryptocurrency market is because of its price. There are hundreds and thousands of altcoins available in the market but no one comes near to the price of bitcoin.

Not to mention, the number of people who transact using bitcoin is significantly large, to the point that it attracted notice to the governments of different countries across the world.


The only way that I see an altcoin replacing bitcoin is when there is a massive prohibition on bitcoin SPECIFICALLY or if another altcoin surfaces and improves all the areas that bitcoin failed to meet. But I seriously doubt that this will happen anytime soon considering the number of users and the price of bitcoin in the market.

Simply Bitcoin is the only one real cryptocurrency and altcoins (even Ethereum) are just the attempts to repeat the glory of BTC. As BTC is limited in coins (21 million), it is strongly protected from inflation, and altcoins are not. The cryptocurrency number one will not years change its status for at least 20 years. I guess, finally, it will be really adopted globally, in less than 3-6 years.

First of all there is the psychological factor. Bitcoin was the first and had no competitor for years, therefore it has begun to be the FACE of a cryptocurrency. Even now when you say cryptocurrency most people think about Bitcoin and not about altcoins at all. Then it is most surely the most used cryptocurrency and it does not have an actual human behind it, but just a name.. Satoshi Nakamoto. I think its creator was very smart by keeping himself/herself anonymous.

Metcalfe's law says that network grow proportionally to the number of users https://en.wikipedia.org/wiki/Metcalfe%27s_law. That is why google plus never caught on with facebook, every user was already on facebook. In the case of Bitcoin, this goes stronger, it is easier to jump from a social network to another. In case to go from BTC to alts it has a monetary cost so the jump is a lot harder. Also, BTC does not have a pre-mine, and Satoshi has never moved his stash from mining, giving more confidence.

You have answered your question with one of the most common reason why Bitcoin sits atop of all crypto.

Bitcoin is the mother of all crypto currency, and It took several years for it to be recognized and used as a currency for payment. There are already millions of Bitcoin in the circulation before the 2nd crypto currency was created. So, if you come to think of it why people choose to have Bitcoin in their bags rather any other altcoins, it is because Bitcoin has been used for payment long before all the alts in the market today, and thats what you call the mainstream acceptance.

You're right, why bitcoin can't be replaced with new altcoins like ethereum for example. why until now bitcoin is still the king of the crypto world ? is it possible because bitcoin have many users and is more trusted for an advantage in cryptocurrency?

It's not only that. Also a lot of people still don't know of any other cryptocurrencies besides Bitcoin. For them it's Cryptocurrency = Bitcoin. Same goes for the mainstream mass media. That's why any altcoin has a hard time to compete.

There is no doubt that bitcoin is one of the biggest innovations of the human in the past years. People trust on bitcoin but they can't trust on any altcoin like they trust bitcoin. I think this is the most important different thing between bitcoin and altcoin.


Those thing you are talking about are very old. Bitcoin and altcoin came in this world like 10 years. I think this take some time for change it (if it is possible).


That's one of the good point you gave also. In this cheat or scammers world trust is the most value able thing at this moment. And of course people believe trust able thing. Why they just believe in some scam altcoin which is not trust worthy.

As popularly said that the only constant thing in this world is change and we prove that from time to time. With the examples you said I think it undergoes planning and research on how to improve the present machine or anything they are using right now.  In terms of altcoins still bitcoin is unbeatable crypto in the crypto world so it will not replace by a new altcoin but satoshi will planning and researching about on how to develop and improve bitcoin to keep its popularity and value.

To say bitcoin is a masterpiece is not so accurate, agree that it is a pioneer for crypto but the features, even usefulness are still very limited, more precisely, it is more outdated than current altcoins. However, in return for these disadvantages, bitcoin receives the attention of everyone when it exists for a long time and has reached a very high value, their positions have not been able to change since both were born, altcoin is dependent on bitcoin when we can see that the value of each altcoin is calculated and converted to the value of bitcoin on CMC

Earlier almost all of the altcoin trade used to be against Bitcoin. But the situation is slowly changing. If you check the major exchanges such as Binance and Huobi, now a large part of the trade is being conducted against USDT (Tether) or other stablecoins. ETH is also being used more for trading the smaller altcoins. This can be both beneficial and disadvantageous for the alts. For example, if a Bitcoin bull run occurs in the future, then the impact may not be visible for the alts.