Topic: Why hasn't any altcoin replaced bitcoin? - page 18. (Read 3511 times)
It's called Alternative for a reason, Bitcoin is the first coin on this platform, we can compare it to the well-known products, people will use it again and again cause they are so used to it. Bitcoin is powerful, but still, someone with the great minds and ideas that develops something much better, we might get to see it dominate, but still, Bitcoin will stay on the trend.
Bitcoin is the well known coin that has gained peoples trust
Not only Bitcoin has given the trust from the community but they give also trust to some altcoins in the market. The only thing that Bitcoin being separated and having a huge gap away from those altcoins is its market value. Thinking of its market demand, no other coins could take that numbers nor ETH can do. People recognize the importance of Bitcoin in the blockchain technology helping to retain as a valuable cryptocurreny ever.
I think that in the next 5 years nothing can replace Bitcoin. It is possible that some kind of coin will appear with super functionality and a network of products, and this will become the key moment for replacing. But now Bitcoin wins due to its reliability, almost the entire market trusts the coin and this makes it top
My guess is, bitcoin will forever live as the number one currency in the crypto space. Bitcoin is the one who are talking altcoins to success, despite bitcoin does not have the greatest use case but it was treated as a currency and investment at the same time, so it's hard to see people living bitcoin for altcoins since from the very beginning, it's already bitcoin that was heavily invested by investors and that doesn't change now, in fact, bitcoin now have 69% dominant rate based on coinmarketcap.
As you said before because altcoin is made to make developers rich or just to introduce ideas without developing to be useful for many people.
Very strong community support is one of the factors that makes many people interested until finally becoming a BTC lover.
Most altcoins have not found the purpose of their use so it is difficult for people to use it.
But it is not impossible that someday BTC will be replaced by another coin or another technologies.
Very strong community support is one of the factors that makes many people interested until finally becoming a BTC lover.
Most altcoins have not found the purpose of their use so it is difficult for people to use it.
But it is not impossible that someday BTC will be replaced by another coin or another technologies.
As it stands now, no altcoin can ever dream of replacing bitcoin. Bitcoin will continue to rule them all. Bitcoin is the well known coin that has gained peoples trust
I think that in the next 5 years nothing can replace Bitcoin. It is possible that some kind of coin will appear with super functionality and a network of products, and this will become the key moment for replacing. But now Bitcoin wins due to its reliability, almost the entire market trusts the coin and this makes it top
What do you think?
I believe that no other altcoin has been able to replace Bitcoin, simply because they lack the mainstream adoption necessary to keep moving forward. After all, Bitcoin is the original cryptocurrency with first-mover advantage on the market. It's not simple to take down a cryptocurrency that has been used by many people for years. Despite many altcoins being superior than Bitcoin in terms of technology and features, they still lack the branding and trust Bitcoin has obtained since inception. For this very reason, I believe that Bitcoin will continue to reign supreme for many generations.
Unless another breakthrough technology comes into inception with the promise of overcoming crypto's existent limitations, Bitcoin won't be going anywhere. It shows us that altcoins are simply copies of the original Blockchain protocol (Bitcoin), unable to independently rise on their own. With Bitcoin's limited supply, and an ever-increasing demand, the possibilities of altcoins replacing it becomes one in a million. Just my thoughts
It is this breakthrough technology that we are always expecting from another projects that is making the market give birth to lots of project that has over shadowed the number of users that are even currently interested in cryptocurrency, why cant we just push for a better development of bitcoin and those lapses we have seen, if those had been our goal, the cryptocurrency market would have become better today.
Bitcoin has become the most major digital asset. Bitcoin is easier to develop because it has a very large community. An altcoin is too many coins, so the investor divided. Moreover Altcoin many are experiencing failures, so investors would prefer to invest in Bitcoin.
I personally also have a desire that there will be an Altcoin that can reach like Bitcoin. The industry is very large and everyone in the world can develop it. So in the future, I am sure if there will be a coin that can replace Bitcoin.
I personally also have a desire that there will be an Altcoin that can reach like Bitcoin. The industry is very large and everyone in the world can develop it. So in the future, I am sure if there will be a coin that can replace Bitcoin.
For the fact that btc was the first coin in crypto is just a big thing that makes it gain more than any other coin in the industry, the most save and easy to get to know with a kind of limit supply .
Btc has a very unique idea and also the only decentralized coin which has no authority controlling it on like other alts coins that has one CEO or the other who makes decision on how it will be run but for btc , there will be a consensus for any decision making with makes it more secure and decentralized.
Btc has a very unique idea and also the only decentralized coin which has no authority controlling it on like other alts coins that has one CEO or the other who makes decision on how it will be run but for btc , there will be a consensus for any decision making with makes it more secure and decentralized.
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?
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?
Because not one single coin has yet achieve mainstream adoption, even Bitcoin. So, Bitcoin still has that first mover network effect advantage since all of them are still speculative. I believe the future belongs to the first coin that achieves mainstream adoption.
And maybe it will be Libra coin (Holy Shit!). Yeah, Facebook has the means.
Many altcoins have been introduced to become better than Bitcoin, to introduce a new technology all together but none has been able to do so. Bitcoin still remains the king and no one can replace it.
The most direct answer to your question is, basically, the Network effect phenomenon.
Here are a few selected resources which explain and extend this perspective:
Here are a few selected resources which explain and extend this perspective:
- Bitcoin - a 6-sided Market and Network Effect by Antonis Polemitis
- The 7 Network Effects of Bitcoin by Trace Mayer
- Bitcoin is Worse is Better by Gwern
- Bitcoin as Decentralized Money: Prices, Mining, and Network Security by Emiliano Pagnotta
- Bitcoin’s Gravity by Gigi
- Crypto Network Effects by Tobias Huber
- On Bitcoin Maximalism, and Currency and Platform Network Effects by Vitalik Buterin
- Bitcoin: Time Compression, Causation And Feedback Loops by Hans Hauge
- Why Bitcoin Matters by Marc Andreessen
- "It has the potential for a positive feedback loop; as users increase, the value goes up, which could attract more users to take advantage of the increasing value." by Satoshi Nakamoto
Because bitcoin had already prove that they are trusted unlike other altcoin projects that are keep showing on altcoin threads with promising whitepaper but in the end it was just like others that are shit and undervalued as the time goes by. Bitcoin runs almost a decade and no scam reports are into bitcoin and the transactions are being made every second. The bitcoin revolutionized cashless payments and other altcoins will promised to do but as of now almost are dumped and being scams so people will stick on the safest crypto which is bitcoin.
For me, another altcoin can't replace bitcoin for now because it still the widespread, trusted, acceptable, bigger community than others, etc. The altcoins were giving us a great offer, but, bitcoin is the superior of all what I said popularity, trusted, and many more. When bitcoin started it facing a trusting problem because many persecutor and issue happen. But when bitcoin's community grow the acceptance follow and followup by some huge company that accepts bitcoin as a payment and after that, it becomes valuable. That is the main reason why this altcoin can't replace bitcoin because of what bitcoin experience and what happened. But I think in the future some of this altcoin will reach the bitcoin's level. 
other than that bitcoin is the first cryptocurrency or arguably bitcoin is the mother of cryptocurrency so that no one has been able to replace it like a calculator is the embryo of a computer and until now the calculator cannot be replaced even on cellphones and PCs of any sophisticated there must be a calculator function that is one of the proof
this is just my opinion, if something goes wrong please correct it
thank you
Bitcoin is not yet replaced in terms of market capacity and popularity but if we speak with its usability bitcoin was already replaced by few altcoins especially eth when it first introduced smart contrasts in blockchain technology its one of the most used feature of new blockchains today which bitcoin has none.
And what are that altcoins that replaced Bitcoin in usability?
I can't agree with that because Bitcoin is still the most accepted and the most implemented coin in.real world. Some altcoins like Ethereum or Litecoin have managed to be good accepted by users but they haven't replaced Bitcoin, they are just used along with it.
But none of altcoins have managed to achieve the value that would be competitive to Bitcoin and I don't think that will happen any time soon.
To those saying bitcoin was the first crypto, actually this one was the first crypto. Though bitcoin was the first decentralized crypto 
and definetly the first to go mainstream.
and definetly the first to go mainstream.
MOST ALTCOIN ARE JUST AN OPPORTUNIST WHO IS TAKING ADVANTAGE OF THE COIN TO MAKE MONEY by promising to have a more refund system after seeing some few flaws of bitcoin and with that was, we have been so contended with the usage, and I think that altcoins are not really performing to standard except the one that are within the top 200, those altcoins are still trying their possible best to ensure that they meet up, but it is just unfortunate that most of their effort is not shown now that the market for altcoins is still in the hands of the bears, and also now that bad projects and scammers are kind of tarnishing the image of the ICO that has made a lot on prospective investor to quite dissociate themselves from making further investment or using those projects.
It might happen someday, people used to think Myspace was the best and then Facebook overtook it. Bitcoin has become super dominant but so have many other companies in the past and then they end up losing market share. Also don't forget that bitcoin had a couple inflation bugs in the past.
How would you define replacement of bitcoin?
Bitcoin could have very large marketcap but it usage still could be small. Other coins very well overtake BTC in usage , transaction amounnts and speed while BTC still is the number one option for investment.
Bitcoin could have very large marketcap but it usage still could be small. Other coins very well overtake BTC in usage , transaction amounnts and speed while BTC still is the number one option for investment.
It seems like what you say about other coins can overtake btc for quick and easy transactions. obviously understandable because btc is too big and the transactions are quite a lot so it takes time compared to other coins. but if to replace being the best, it might still take a long time.
I agree with you that BTC is still the number one for investment.
in my opinion it is not impossible someday there is a substitute for bitcoin, it could be ethereum or other altcoin. but I don't know when it will happen. now we better focus first on the development of bitcoin.
Moreover, at this time in my country Indonesia has begun to aggressively news from the government so that people are more vigilant when using bitcoin, and it is not impossible that bitcoin will be banned also in Indonesia. And I think in other countries, government also plays an important role in the future development of bitcoin.
along with the times, of course in the future technology will increasingly develop and increasingly modern. whether bitcoin is able to meet the needs of the community, or maybe other altcoins can solve this, I don't think it can be confirmed at this time.
Moreover, at this time in my country Indonesia has begun to aggressively news from the government so that people are more vigilant when using bitcoin, and it is not impossible that bitcoin will be banned also in Indonesia. And I think in other countries, government also plays an important role in the future development of bitcoin.
along with the times, of course in the future technology will increasingly develop and increasingly modern. whether bitcoin is able to meet the needs of the community, or maybe other altcoins can solve this, I don't think it can be confirmed at this time.
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