Topic: Why hasn't any altcoin replaced bitcoin? - page 20. (Read 3501 times)

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.

People trust the bitcoin more than any other coins available in the market and that will ever be created, Satoshi is anonymous and built the bitcoin on a very valuable technology and he doesn't even have control over it now, and the government can not arrest anyone for been the creator of bitcoin and it has nothing like board of directors.

Did you come up to a thing that an original is being replaced by a copycat? Basic questions have obvious answers bro.
I mean some altcoins didn't really copy the blockchain network but as an intellectual user of cryptocurrency, you'll stick the uniqueness.

Obviously, bitcoin has the original idea and have been through a lot of struggles in the on-chain network. Bitcoin was already developed and made some of the users made a layer 2 solutions on this digital currency.

You've mentioned all about advancement that has taken place with the telecommunications sector, automotive industry and several other industries where the growth keeps on progressing with a new thing more innovative taking advantage over the old one. This is true and the reality is being experienced.

By this time you failed to remember or mention gold which till date hasn't got outdated or decline in its value. Also nothing big has come to take rule over. This has crossed years and years, and now gold has got to be used in different forms digitally which is the advancement. Same is our bitcoin, it'll get used and accessible in different forms which is the advancement and nothing gonna replace it.

Who knows maybe that coin has not been born yet, never say never, everyday new project keeps coming into the crypto community looking to make a change or right some flaws they think btc has but so far none has been able to come to per with btc,
good thing is the space is vast and full of endless opportunity so there is more than enough room for young and fresh innovations to step in as at when due.

Bitcoin was the first of its kind to come into the mainframe of cryptocurrencies. Altcoins were created and introduced to the world later.
Bitcoin holds almost 70% of the market cap, leaving only a small margin for Altcoins and other Cryptocurrencies. The various kinds of Altcoins circulating in the market are creating unwanted competition for themselves.
New Altcoins are introduced very frequently in the market, and many even die a natural death. Whereas, Bitcoin has stood the test of time.
The ROI that Bitcoin has offered over the years to investors is much higher than any Altcoin has ever yielded. These are the many reasons why Altcoins have not surpassed Bitcoin yet.

It can be true, but I think it is not only the reason for this case.
Some altcoins are trustable and potentially improve well in the future, but there are no coins as the real competitors of Bitcoin so far. I can understand this situation since Bitcoin has been proven longer than others. Moreover, Bitcoin is still the main factor to determine the "up or down" the prices of crypto coins till now. So, it is not surprising if no altcoins can replace it. 

I don't think it will happen in the near future. We are far from seeing that moment that bitcoin will ever be replaced by another altcoin.

The reason why no altcoin replaces the king is that they all have the same idea and purpose. And those purposes that they are coming up with can already be seen to bitcoin and majority of us would want to stay on it.

what about now ? bitcoin is not new anymore , its been so many years that bitcoin existed in the space and there are now millions of coins have been created but still bitcoin is on the top . in the future you can say all those stuff . bitcoin will still be the first no matter how long it goe's  .

nothing is replaced . nokia , bbm and other older brands are still there  . they did catch up and built thier own android phones .

For now, yes no coin can replace bitcoin. because of

1. First inovation for decentralized digital money
2. First blockchain system
3. Mother of cryptocurrency

But in the future, it's possible for other coin to replace it. Just remember Nokia or blackberry history, Nokia is one of the best phone in his era, they have great innovation, but now you know they replaced by samsung and other android phone.

This also almost same with blackberry, blackberry only just rely on their BBM, but now they replaced with other phones and their BBM replaced by whatsapp

I don't think it applies to Cryptocurrency, Cryptocurrency runs on code and all these altcoins are just cloned of Bitcoin who are all using Bitcoin code with alteration, it's better to learn how Cryptocurrency works the first time using Bitcoin and not it's clone coins.

And besides Bitcoin's dominance is now over 70%

I guess it's an unconscious respect for Bitcoin by other cryptos that has still made them all to queue behind it, rather than overtake it  That's just a mild joke. On a serious note, I believe is greed from the altcoins devs that has continually gone against them. I bet the anonymity of Satoshi is a plus for the growth of Bitcoin and it goes a long way to curtail the greed that might have sprung if Satoshi was known and directly involved. In 2017, I thought Bytebal would've overtaken Bitcoin for it was the second to Bitcoin in price but it just couldn't do the magic. Now Bytebal is just as ordinary as most of the altcoins with low prices.

I am not certain but all I know is that bitcoin will never be replaced by any altcoin even if we continue what Satoshi wants to do with it is because a lot of people are earning their profit from it. It is the first successful crypto currency so obviously it will be the first one to be expensive and with its volatility, the price can be quickly manipulated to reach great heights that will boost more profit and will boost more demand in the near future.

No, because Ethereum was made too centralized, reflected by the fact that they can undo blockchain transactions on a whim, which permanently damaged its reputation. Oh and infinite supply...

Centralization is the biggest weakness of many altcoins, but not the only one. I don't even know of any altcoin deserves the term "competitor" at this point, as they all combined keep moving less than Bitcoin alone.

Bitcoin isn't perfect but so far the alternatives have been far from being better. This is bad for everyone, of course. Perhaps another one will come made by (yet another) anonymous developer who will disappear permanently following Satoshi's footsteps. That would be the first step in dismantling any scam or profit scheme accusation (ie. Litecoin guy selling his Litecoins). Having its own blockchain (and not piggybacking on anyone else's as "token") probably helps. Then being centralized, ie. unstoppable. A well made code that will keep the coin design following its route whenever that may be. No identifiable individual or company you could destroy to destroy the coin, basically the opposite of many altcoins.

And even after all that, it takes something especial to be recognized by the community. Faster transactions? Bigger anonymization? How about security and redundancy, ease of use, etc.

If Satoshi were to make Bitcoin today, what would he/she/they made different after magically having earned these 10 years of past experience? THEN we MIGHT see something remotely resembling competition. Most of what we have now is useless and or not trusted, and there is the addition that there is simply too many, among all that garbage may a gem remain hidden, but most people can't spot it yet.

In my opinion, the cryptocurrency market is still very young and the first competitor to Bitcoin is Ethereum.  Perhaps in the near future the situation may change dramatically, because compared to Bitcoin, Ethereum has a much faster transaction speed and the transaction cost has decreased again.  Of course, scalability is still the main problem on the path to mass use, as well as before attracting large sums of money from a large business.  But I hope that the team will do everything to solve this problem.

For now it seems btc will still continue to reign supreme, btc is the first and everyone hold it in high esteem, but that does not mean it is impossible to see another that will take its place, crypto existence is still young, you never know what could happen in the future, it can't always be btc for the rest of human existence, something will change it eventually.

There is one simple plain reason why bitcoin is still on the top.Every coin has a owner but in case of bitcoin there is no particular owner.
Everybody is the owner. Now this might look like a shitpost but deep down, it's the actual truth and the ultimate reason why bitcoin cannot be destroyed by anything.

Because they try to replace Bitcoin using Bitcoin's own code or because the coin's motive is only to enrich its creator, traders and whales in the community are more on Bitcoin then these altcoins, for us to get adopted Bitcoin should go first, Bitcoin is not something that you should just use, but you also need to undestand how it works.

Many have tried to match Bitcoin but most of them failed yet there are who passed too yet people still choose Bitcoin no matter how many times they have to fork it they will still remain as an altcoin. Bitcoin is the father of all cryptocurrency today that ever existed and thanks to Satoshi for making this innovative technology to fight against the banking system.

To answer your question with your own analogies, why hasn't "3D" Television replaced everything completely?

When a new technology comes, the next that offers an "upgrade" isn't necessarily accepted. While truly revolutionary technologies end replacing everything behind, sometimes things come that people do not want, or at least do not want at that point in time (Ahead of its time, see Apple's Newton, tablets in the 90ies).

Your car anology is a bit backwards, but then again electric cars came before gasoline cars, they weren't particularly useful or wanted back then, they are now. Your Lamborghini would need to be thrown against a Tesla Roadster (the newer edition), and it would beat it, without any vroom... Engines were invented in a particular historical succession, with Steam coming earlier then the others, but the others proved far more efficient, smaller and reliable.

Why no altcoin has succeeded? Perhaps none of their proposals are good enough yet, or they are also sacrificing something critical that people are not willing to risk their money into. (Such as centralization).