Topic: Why hasn't any altcoin replaced bitcoin? - page 3. (Read 3455 times)
in what context do you mean there is no altcoin that replaced bitcoin so far? it won't happening forever, that does not make any sense to actually have that. there is a reason that bitcoin is still on top 1 of coinmarketcap and there is no altcoin could actually replace that in matter of technology and stuff.
in my opinion bitcoin is the first cryptocurrency to be traded, so it can be seen as a symbol of cryptocurrencies, when they first entered the market people always wanted to buy the best cryptocurrency, of course they would choose the top coin when they do not know all the market information, and also part of the volume of bitcoin trading is very large, so it is difficult to give this position to any other coin.
it will only last in the short term if it is symbolically always associated with the first-appearing crypto.the analogy is that it is impossible for citizens of the world to only use gold as a medium of exchange in every change of the era, in the coming decade every form of interest and usefulness will strengthen, every strong altcoin will be able to adapt to meet the legality requirements and eventually become popular. The volume of Bitcoin will shift slightly though it will still have a very high price compared to the others.
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.
in my opinion bitcoin is the first cryptocurrency to be traded, so it can be seen as a symbol of cryptocurrencies, when they first entered the market people always wanted to buy the best cryptocurrency, of course they would choose the top coin when they do not know all the market information, and also part of the volume of bitcoin trading is very large, so it is difficult to give this position to any other coin.
Unfortunately, it's about the dollar. The price of bitcoin rose too high. Blockchain's economy was founded with Bitcoin. The community that owns Bitcoin has taken power. In the blockchain system, you might want to bring an opponent to the bitcoin. To do this, you need to have a very large capital. The central bank of a developed country can do this.
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.
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.
Many altcoins do not fall under the distribution of bitcoin. There is a group of altcoins that do not have a signal for bitcoin, or these coins are on the POS algorithm, or there are nodes.
Altcoin supporters need to do a lot more work in making their coins more visible.
I was very impressed with how Ethereum launched itself a few years ago - they even managed to get the New York Times to do an article about them and their coin. That's the kind of marketing you need in order for an alt to even start competing with bitcoin.
I was very impressed with how Ethereum launched itself a few years ago - they even managed to get the New York Times to do an article about them and their coin. That's the kind of marketing you need in order for an alt to even start competing with bitcoin.
Completely agree with you, mate. Most altcoins are focused on hype, rather than working on their core Blockchain protocol or even taking their time for marketing/promotion within the mainstream world. The closest, most successful coin to Bitcoin has been Ethereum ever since it launched back in 2015. The rest of the altcoins are more of the same, mostly driven by hype than anything else. There are some cryptocurrencies which have been abandoned in development too (like Dogecoin). I believe that's the true reason why altcoins haven't been able to replace Bitcoin to this date (aside from the fact that all cryptocurrencies are based on Bitcoin's Blockchain technology). It's not easy to overcome the original cryptocurrency project which started it all.
Which is why, I believe that Bitcoin will remain as the "King" of crypto for the foreseeable future. Unless a new cryptocurrency comes up with better a tech than Blockchain itself, I don't see altcoins replacing the original cryptocurrency anytime soon. Bitcoin is and will always be the #1 cryptocurrency in the world for a very good reason. After all, it's the most decentralized cryptocurrency in existence today. Altcoin developers should learn that it's about decentralization above all else. Once they realize this, altcoins will be able to succeed to "infinity and beyond". Just my thoughts
No altcoin was able to replace Bitcoin until now because no altcoin could surpass Bitcoin yet.
Based on your comparison, people were able to invent one thing greater from another. In my opinion that is probably because there was a physical machine to improve unlike in the blockchain world where everything is virtually present and it was a challenge to improve everything.
Based on your comparison, people were able to invent one thing greater from another. In my opinion that is probably because there was a physical machine to improve unlike in the blockchain world where everything is virtually present and it was a challenge to improve everything.
It is difficult to assert that bitcoin cannot be replaced in the future, but for now bitcoin has a lot of advantages over other altcoins, which is the huge support community, the advantage of the first cryptocurrency, on the other hand. Bitcoin is also constantly evolving and being upgraded regularly.
With 50%+ market dominance? and there are still doubts on bitcoin to be replaced? Even there are coins such EOS, Ethereum or XRP that is way much better than it, Bitcoin will always be bitcoin. The only one who lifted the crypto space up and garnered a lot of investors through the process. So I guess altcoins would take so much time to take the position of bitcoin now. On top of that is the growing adoption processes of big companies with bitcoin making it more popular. 
Most of the alt coins that are around are not actually offering anything new from what Bitcoins is already giving us so there is really no reason why people should be ditching Bitcoin and be going in for the Altcoins I am sure other coins with new features unlike bitcoins will tempt others.
It is difficult to assert that bitcoin cannot be replaced in the future, but for now bitcoin has a lot of advantages over other altcoins, which is the huge support community, the advantage of the first cryptocurrency, on the other hand. Bitcoin is also constantly evolving and being upgraded regularly.
What do you think?
No one knows on what bitcoin isn't still being replaced yet in spite on being outclassed by most updated or good featured altcoins in the market currently.
But we can already presume that Bitcoin is king of crypto that's why its being mainly supported by the masses in spite of its scability issues.
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Even the name suggests it's an alternative, Bitcoin is the creator of crypto, so it's unlikely anyone will replace it in the future. The Alts are also dependent on Bitcoin, so they can't replace it.
The reason is that no altcoin didn't reach the value that Bitcoin has and it's isn't that applicable in real world. Bitcoin maybe has the advantage of being first cryptocurrency but to my opinion no othe altcoin has potential to get even close to Bitcoin, it's hard to compete with it. Probably that wouldn't change in near future.
i do not agree with you, when zcash comes to the markets the starting value was 3000 BTC. That price doesn't last for long... But for a moment things were that way.
And as you say, bitcoins have the advantage of being the first cryptocurrency, That's one of the factors why it is on the top.
Right! There is no currency that can replace bitcoin in the electronic market today. For many people, Bitcoin is not only the tycoon of cryptocurrencies, it is also a real currency. Everything else, including Ethereum is called an alternative currency or altcoin. what's your opinion?
The reason is that no altcoin didn't reach the value that Bitcoin has and it's isn't that applicable in real world. Bitcoin maybe has the advantage of being first cryptocurrency but to my opinion no othe altcoin has potential to get even close to Bitcoin, it's hard to compete with it. Probably that wouldn't change in near future.
Many people forget about the true value of Bitcoin and see only its price. This forces them to use the coin again and again to earn money, this is one of the reasons why altcoins are not used as much as Bitcoin
But wait, would it be positive if the case is like what you've just said? Because people found the way how bitcoin could be profitable, they will surely adopt into using it to their transactions and make it their main investment platform. Because As far as I can see, if people are supporting bitcoin, the market price of the altcoins are also getting higher, I am not saying people should consider market price as the top to consider, but most of the time, the cryptocurrency with the most market price are what people think is the most valuable as well.
Bitcoin is widely used and the most popular crypto currency right now that's why many people still invest in it. One of the reasons why bitcoin is still number one despite the number of competition out there. Probably because of the trust and reputation of bitcoin that despite being in a countless bubbles, it still manage to survive maybe that's why.
Many people forget about the true value of Bitcoin and see only its price. This forces them to use the coin again and again to earn money, this is one of the reasons why altcoins are not used as much as Bitcoin
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