What makes Bitcoin or any crypto have a value?
It's the trust shown by the investors.
Bitcoin is at the peak when it comes to trust. Bitcoin has become synonymous to cryptocurrencies. Any new investors or trader always starts with Bitcoin first. The market isn't that big in valuation that people can consider utility as an important factor. Right now, crypto is just a speculation asset through which you can grow your money in short term. Unless the market becomes big enough that people actually will start investing in idea. No other coin can replace btc.
Topic: Why hasn't any altcoin replaced bitcoin? - page 2. (Read 3455 times)
It's because Bitcoin is the, origin of crypto currency and major investors, specially the early ones have most of their funds in Bitcoin as Bitcoin is the most promising and trusted coin of all of crypto market, along with the fact that Bitcoin had many years more of growth than any other alt coins makes it leading in that sense as well 
If you see at the market cap, it's hardly a few hundred billion dollars. It's nothing when it comes to the other investment asset. This shows that people don't trust crypto as an investment yet. When the overall trust is that low when it is compared to other assets, the first mover usually is the most trusted one. People won't shift from btc and invest in anything else until the market reaches a significant cap.
Therefore, it will be really tough for an altcoin To replace Bitcoin.
Therefore, it will be really tough for an altcoin To replace Bitcoin.
That's certainly true, mate. Altcoins are far away from replacing Bitcoin anytime soon. There's a large gap between altcoins' and Bitcoin's market cap. Even with the most advanced technologies and features used by many altcoins of today, Bitcoin is still the "King" for a very good reason. The first thing a person topples up with is Bitcoin above all else. After all, every other cryptocurrency depends on it to succeed. Altcoins have been unable to maintain independence from Bitcoin whatsoever. The only altcoin which is close enough to achieving this is Ethereum. But even the world's second largest cryptocurrency by market cap, is not as popular as Bitcoin is. Lots of marketing/promotion and mainstream adoption is needed for an altcoin to truly overcome Bitcoin within the mainstream world.
As time goes by, we'll be able to see vast improvements in the Blockchain industry. We cannot deny the fact that every single cryptocurrency is based on Bitcoin's core Blockchain technology. Which means that you cannot defeat the original project which started it all. In order to make the difference, an altcoin needs to have a completely revolutionary technology that solves many of the known limitations of Blockchain today. Until then, it'll be nearly impossible to replace Bitcoin within the mainstream world. Don't be surprised to see Bitcoin remain as the #1 cryptocurrency on the market within 10 - 20 years from now, while other altcoins are left behind in the dust. Just my thoughts
At least for today I can’t completely explain the values of Bitcoin in the cryptocurrency market, because I understand that there are other cryptocurrencies that can surpass Bitcoin in technical specifications, but nevertheless Bitcoin is a pioneer among all cryptocurrencies and enjoys great trust among many users cryptocurrencies, as evidenced by the high capitalization of this coin and a fairly high price on the cryptocurrency market. In addition, active forecasts about high Bitcoin prices in the future also contribute to the popularity of Bitcoin among investors, attracting more new people to the cryptocurrency market.
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?
its because bitcoin is built by trust the creator is missing and not even moving the coin he ownsWhy 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?
unlike altcoin it's built for the creator to earn some money you will see some news that some developer is selling their coins
that why its really hard to fully support altcoin because the creator can make a lot of changes
sell all their coin that will result for a price drop or even leave their project and make a new one
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.
Bitcoin is the base of the blockchain system. Though technology is updated and lots of crypto coin has been created. But Bitcoin is the master of crypto technology. I don't think any crypto will be able to get ahead of Bitcoin. In the future, Bitcoin will become dominion on the blockchain.
Simply because, while in the examples you cited there has always been an improvement, no cryptocurrency is better or equal to bitcoin: decentralization, immutability, incensurability. All the other crypto experiments don't have simultaneously and all these advantages/protections. That's why, to date, bitcoin is the the only currency OF THE people.
Indeed. There are a lot of coins in the market thattriess to defeat and replace bitcoin as the number one cryptocurrency in the market, but even the half of it's price they haven't reach it because of mass adoption and it was the first crytocurrency that was created, so what would you expect, of course it will be impossible for bitcoin to be defeated.
If you see at the market cap, it's hardly a few hundred billion dollars. It's nothing when it comes to the other investment asset. This shows that people don't trust crypto as an investment yet. When the overall trust is that low when it is compared to other assets, the first mover usually is the most trusted one. People won't shift from btc and invest in anything else until the market reaches a significant cap.
Therefore, it will be really tough for an altcoin To replace Bitcoin.
Therefore, it will be really tough for an altcoin To replace Bitcoin.
Bitcoins performance has already build a relationship to their consumer. They gained the trust of all of their consumer that is why they are continue to purchase and support bitcoin at all times. Unlike those altcoin that is new, they don't know if it has a potential or not that is why they are not investing on it because there is no security that their money will grow.
Before the relationship, Bitcoin builds trust which is the most important thing, for a decade of ups and down, the price has been a roller coaster, and so many altcoins attempts to destroy its name for them to be the top coins or the replacement of Bitcoin but no one wins so far, still Bitcoin is the number of.
Bitcoins performance has already build a relationship to their consumer. They gained the trust of all of their consumer that is why they are continue to purchase and support bitcoin at all times. Unlike those altcoin that is new, they don't know if it has a potential or not that is why they are not investing on it because there is no security that their money will grow.
No altcoin has ever come to a better place than bitcoin. Because there's a lot of money behind the bitcoin. And why would the bitcoin community want to lose this power? There are projects with better technology than Bitcoin, but money is behind bitcoin.
It has nothing to do with Bitcoin community having the money or the power. Just because a coin claims that it is superior to Bitcoin, the users are not going to suddenly dump BTC and go after that particular cryptocurrency. There should be clear reason for that. As of now, Bitcoin is not 100% perfect. The other coins are not able to replace it, because they themselves are not that good either.
Bitcoin's the first and original crypto currency so there's a uniqueness to it that no other altcoin has. It was first and absorbed the market share before any other crypto was able to target a user base. Litecoin was the most recent alternative proceeding Bitcoin and the prices/demand aren't remotely comparable so there was evidence early on that no one would adopt altcoins like they would Bitcoin. Newer coins with better technology like Ether have somewhat a viable path to compete with Bitcoin but not overtake it for the simple fact that any deviations from the norm make people uncomfortable. Right now, Bitcoin's the norm and it isn't going to change. Oh, and you can't forget the fact that 99 percent of newer altcoins are worthless garbage pump and dump scams.
Users of cryptocurrencies have more trust to bitcoins than altcoins. I'm sure that there is no altcoins that can replaced bitcoin in terms of market capitalization and of course volume. As you said bitcoin is the first currency and it is the most popular cryptocurrency. Also the merchants and businesses that are only willing to accept bitcoin as mode of payment and not altcoins such as ethereum, litecoin and XRP.
The field of cryptography is too new to be sure of anything. Can coin may yield great profit and may vanish at the same time. Coins are different and therefore their function and strong sides are different. We're not supposed to compare them. Personally, I think the crypto world is beautiful not because of its diversity, but because of it. 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 population of cryptographs. It's a very dumb game to play and at the end of the day it does nothing.
Bitcoin's the first and original crypto currency so there's a uniqueness to it that no other altcoin has. It was first and absorbed the market share before any other crypto was able to target a user base. Litecoin was the most recent alternative proceeding Bitcoin and the prices/demand aren't remotely comparable so there was evidence early on that no one would adopt altcoins like they would Bitcoin. Newer coins with better technology like Ether have somewhat a viable path to compete with Bitcoin but not overtake it for the simple fact that any deviations from the norm make people uncomfortable. Right now, Bitcoin's the norm and it isn't going to change. Oh, and you can't forget the fact that 99 percent of newer altcoins are worthless garbage pump and dump scams.
Due to the popularity, I think that altcoin can't replace bitcoin until now. And also Bitcoin is a pioneer in blockchain people will never forget Bitcoin because if there's no Bitcoin then there's no cryptocurrency. Although some altcoins have better technology in technology than bitcoin. Yet altcoin can't defeat bitcoin because they lose volume of trade, market capitalization, quality, and group count. Bitcoin's decline and rise is also a guideline for most altcoins. So I don't think there will be any altcoin for the next few years to replace bitcoin.
No altcoin has ever come to a better place than bitcoin. Because there's a lot of money behind the bitcoin. And why would the bitcoin community want to lose this power? There are projects with better technology than Bitcoin, but money is behind bitcoin.
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?
Some Altcoin seem to be created to fail that is why Bitcoin has no close competitors. Most of the Altcoin rely upon Bitcoin for growth.
We have seen the bad energy of majority of Altcoin on the blockchain. This is disadvantaged as it has made government and some stakeholders to have a wavy trust on cryptocurrency. Make it difficult for the scalability of Bitcoin.
Bitcoin has been introduced on its own and blockchain system at a time, there are some basic reasons behind this argument. Bitcoin also introduced the cryptocurrency to the whole world, people first knew about Bitcoin and then other cryptocurrencies. So Bitcoin has a special reputation around the world and it has already built an established position, it's common understanding that other cryptocurrencies are just Bitcoin's copies, so it's really hard for an Altcoin to get Bitcoin replaced. It's a matter of recognition and legitimacy, I guess. Therefore, as far as this problem is concerned, Bitcoin is out of competition with other altcoins, as the founder of this blockchain network
There are so many reasons why Bitcoin has never been replaced, but if we take as a whole, Bitcoin simply supports most investors and because of the large capitalization in the market, no one can replace Bitcoin.
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