Why hasn't any altcoin replaced bitcoin? - page 19.

Abiky

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

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 Grin

Kasabus

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We are not in the politics which we could vote whose next to become president, whose in favor with Bitcoin. But even we do voting system, Bitcoin will still win and people would choose for it.
Bitcoin remains at top cause the community looks it valuable. Indeed, it was and no other coins could offer such a thing. Thus, keeping into the situation like this, it is our own discretion to thinks whos best and whos gonna be more profitable. Profits is what we looking for, not the name.

mazdafunsun

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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.

jakoylantern

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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.

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I feel that bitcoin is different from all these types of developments from time to time. Bitcoin is too high and the more people believe it, the stronger bitcoin is at the top. So, this is something that cannot be replaced because of its popularity, although there are many projects that are getting better but for the medium term I'm not sure bitcoin can be replaced, although of course I believe in other developments that might replace bitcoin in the future because at least there will be a change that we don't know about in the future.

thunderbitz2717

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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?

Never forget that because of the blockchain technology Bitcoin was created and because Bitcoin, altcoins was created too. In short, without bitcoin altcoin for sure will not be create, get it? But I can't deny that with altcoins many community had a chance to earn bitcoin because of it and I am one of them actually. And many became successful traders in crypto because of the altcoins for having a bitcoin profit in the end.

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Bitcoin was the first crypto currency and it will always remain the first. This does not mean necessarily it is the best, but being the first comes with a huge popularity and a lot of advantages.

Imagine how would it be for a new mobile phone manufacture to come on market with a great product and to replace Samsung and Apple. It would be almost impossible even if their product will be very good. Same happens for Bitcoin.

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Quote from: LogitechMouse on August 27, 2019, 04:07:08 AM

I think the trustworthiness of Bitcoin let it stay from the top. We know that it is the first cryptocurrency that has been created and many believe that buying and holding Bitcoin will give them huge profits in the long run. In terms of technology, no doubt that some altcoins are better compare to Bitcoin but the fact that it is the first crypto to be created let it stay on the top.

Bitcoin is more trusted perhaps because there is no team or CEO or authority that can control transaction data and supply quantities. Altcoin is still not very trusted by investors because of price fluctuations that are too high and also many projects that fail to reach the target

LogitechMouse

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I think the trustworthiness of Bitcoin let it stay from the top. We know that it is the first cryptocurrency that has been created and many believe that buying and holding Bitcoin will give them huge profits in the long run. In terms of technology, no doubt that some altcoins are better compare to Bitcoin but the fact that it is the first crypto to be created let it stay on the top.

slaman29

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The most logical reason for that is; Bitcoin was created first and get the hype in the early stage. Altcoins tech is better and they have more features but whatever they do, nothing can replace Bitcoin. Bitcoin is a revolution.

Yeah, most logical answer for almost anything is to be first mover. Bitcoin's hype was healthy hype (not now of course but at the beginning).

It's like Coca Cola. You can have Pepsi and 100 different competitors in all countries but the way Coke changed soft drinks, and how it is still the most preferred. You can't really beat that. One day maybe, but not if it keeps improving.

Bitcoin may be slower and less techy, but that's all on the surface. Underneath, it's the superior machine.

suhadi88

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Basically, Bitcoin is the first digital coin there. And this coin is continuously being developed and until now is still very dominating. Too fast if we think that Altcoin will replace Bitcoin.

Until now there is still no coin capable of approaching Bitcoin achievement. The coins that many people say will be able to replace Bitcoin is Ethereum. But until now does not happen.

Bitcoin is continuously being developed and able to dominate the crypto market. Bitcoin will survive the number one coin for a very long time.

Angi

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I point my answer to the title of this thread. Grin

I do believe that no altcoins can replace bitcoins price as of now or maybe next few years. I really think that altcoins now are so focusing on transparency to gain more trust so that user may be use it. then, it's really really hard that existing altcoin may replaced btc's popularity and price. common users or outsiders now come here because they inspired just for btc. and altcoins hard to get that way. we can expect will be replaced for next 10 years. Roll Eyes

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Quote from: undergroundartpal on August 26, 2019, 10:44:20 PM

I figure it's because not all altcoins are out to actually replace Bitcoin, but solve other problems or be used for different purposes. If not that, they draw in different kinds of adopters.
Just like how I can't see Facebook's Libra replacing Bitcoin, even though it seems set to want to try to do so.

Bitcoin remains as what it was, it deserves to be at the top cause of its purpose and playing a big role in the market. No other coin can copy such uniqueness it has and put to its end.
And talking about Libra, nothing to see its potentiality to run over Bitcoin. It has to say that Libra will still as its altcoins just like of many others newly created.

undergroundartpal

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I figure it's because not all altcoins are out to actually replace Bitcoin, but solve other problems or be used for different purposes. If not that, they draw in different kinds of adopters.
Just like how I can't see Facebook's Libra replacing Bitcoin, even though it seems set to want to try to do so.

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Quote from: Mind Control on August 26, 2019, 07:40:38 PM

Quote from: ?? on ??

The most logical reason for that is; Bitcoin was created first and get the hype in the early stage. Altcoins tech is better and they have more features but whatever they do, nothing can replace Bitcoin. Bitcoin is a revolution.

Being the first or Alpha does not ensure a spot to be the "king" as most would say. It is true that there are some altcoins that works better that Bitcoin but still, no one replaces Bitcoin. The mere explanation for this is the people support. People support bitcoin more than any cryptocurrency out there. Without this support, no altcoin could dethrone Bitcoin.

Basically this. The people trusts Bitcoin, the others? Not so much. That is reflected in the market value. Bitcoin did things good enough for most people, while most others always sacrifice something, often decentralization which makes any alternative coin worthless.

Mind Control

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Quote from: ?? on ??

The most logical reason for that is; Bitcoin was created first and get the hype in the early stage. Altcoins tech is better and they have more features but whatever they do, nothing can replace Bitcoin. Bitcoin is a revolution.

Being the first or Alpha does not ensure a spot to be the "king" as most would say. It is true that there are some altcoins that works better that Bitcoin but still, no one replaces Bitcoin. The mere explanation for this is the people support. People support bitcoin more than any cryptocurrency out there. Without this support, no altcoin could dethrone Bitcoin.

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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 only thinking about bitcoin in terms of its technology but bitcoin is more than that, bitcoin is money and money is based on trust, gold and silver were the main forms of money for thousands of years, despite its flaws the US dollar has been the reserve currency of the world for one hundred years, and bitcoin has been the leader of this market since day one, no altcoin has reached the level of trust that bitcoin has, most altcoins despite the hype are copies of bitcoin and do not bring to the table anything that the bitcoin devs could not implement in the future, the devs working on bitcoin are the best in the world and the first mover advantage of bitcoin seems unbeatable at this point.

I am sure there are even more reasons why no alt is even close to challenge bitcoin and its leadership over this market but those are the first that came to my mind.

todiboa

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For me, the reason is the maximum decentralization of Bitcoin in relation to all altcoins. Nobody knows Satoshi Nakamoto and for many years no one has changed anything on the Bitcoin network, there were no deceptions and manipulations. This makes Bitcoin the number one coin and the most trusted ever so no one altcoin can get ahead of it despite the better functionality.

TheClownSong

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Quote from: pragna on August 26, 2019, 02:58:07 AM

I think no altcoin can be replace of BTC as whole world measurement digital currency with satoshi at first. You also will see every alt coin pair with BTC which is basic of digital currency. So i think in future also BTC will be unique and no alt can defect it until another currency system come in world.

It is difficult for altcoin to shift the position of bitcoin as king in the cryptocurrency market. With a limited supply and has also begun to be recognized as a digital asset, bitcoin will always be the first choice for investors. But altcoin also has a chance to develop because investors must speculate on the development of altcoin and this provides an opportunity for altcoin prices to rise

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