Topic: Why hasn't any altcoin replaced bitcoin? - page 5. (Read 3501 times)

altcoins are from the image of bitcoin there is no other better than bitcoin fo someone who is dreaming that someday they will surpass bitcoin , its not going to happen , it maybe replace it from top 1 standing, all of coins even ethereum is base on bitcoin so no matter what happen it maybe replace bitcoin in papers and standings but it will be never be same as bitcoin

No altcoin will ever replace Bitcoin because it is a scarce asset that has global trust running for years. Most alts gain their value from the implication that they can gain more BTC from their alts.

Citation needed.

Altcoins are quick to add marketing features, but over and over again those wizbang features have thoroughly undermined their security usually while providing little to no practical benefit, sometimes while not even providing a clear theoretical benefit.

Superior shouldn't be about how many bullet items you can put on a webpage to fleece suckers with, it should be about keeping your coins secured and easily transacted.

There is an occasional altcoin that has some genuine improvement but it's usually packaged with other marketing features that hurt security or other features or tradeoffs that make it less of a competitor to Bitcoin (premines, worse scalability, centralization, etc.).

If some altcoin did one day supplant Bitcoin it's far from clear that the whole circus wouldn't just stop not long following that... After all, if foocoin can replace bitcoin then won't some barcoin replace foocoin eventually? If so-- why would you want to own foocoin either?

Exactly. While most altcoins prove to be superior than Bitcoin in terms of technicalities, they haven't been unable to beat the "King" because they don't have a trusted brand/name within the mainstream world. When joining the world of crypto, the first thing a person topples with is Bitcoin. And this is for a very good reason. Being the world's first cryptocurrency ever created, it has a lot of support from developers, businesses, companies, and individuals alike. Altcoins are simply copies of the original Bitcoin blockchain that have been modified at some degree by integrating additional features, etc. But the truth is that every single cryptocurrency is just based on Bitcoin's Blockchain technology. The pioneer cryptocurrency's major improvement has been SegWit and the Lightning Network. This might be all Bitcoin needs to stay relevant in the mainstream world, relative to other cryptocurrencies on the market.

The inability to provide real use cases for the world, has been one of the many reasons why altcoins have been unable to replace Bitcoin. Most of the altcoins we know and love today, need a lot of marketing/promotion and adoption within the mainstream world to be able to stand next to Bitcoin in every way. But we all know, it's virtually impossible to take down something that's the origin of a disruptive technology that's bound to change the world. Hence, Bitcoin will continue to be the "King" for years to come while altcoins will be considered as second-class cryptocurrencies within the mainstream world. Just my opinion

You are right in saying that "Bitcoin is still king" and that cannot be denied until now. all developments in altcoin that circulate in crypto are always and will be affected by what happens to bitcoin. It might not take many years to replace but altcoin will never happen to replace bitcoin. ethereum which is quite stable and can move on its own until now has not been able to replace it, as well as other altcoins.

There are stages in the development of a technology. As a logic, the first technological product develops and changes. But bitcoin is different. I have bitcoin for 10 years. No major improvements other than the SegWit update. Alternative coins could not spread in the market. Bitcoin is still king.

there are many factors related to profit in this case, apart from the main advantage of the high price but on the other hand there are many altcoins that are more profitable in terms of costs and also faster transactions. even so indeed, bitcoin is still difficult to replace because i only see from the side of the reputation and popularity of bitcoin itself that most people will only know bitcoin than other crypto which is not so popular among ordinary people and also new investors in this industry.

i think, other crypto have own specialization and it can be better than bitcoin. many reason why altcoin cant replace bitcoin. bitcoin is the main coin in cryoto and all of platform accept it, and use it as payment. but there are some coin that used as payment too. maybe, when talking about profit, bitcoin is profitable than other crypto

I never used to believe in bitcoin. Yeah, I thought that bitcoin is a temporary thing which was hyped  and advertised widely. I was wrong with my supposiotion until I comprehended the most crucial bitcoin benefits. Chiefly I understood that cryptocurrencies and especially bitcoin are vital for the further evolving of high tech. Concerning bitcoin if I arrange cryptocurrencies in order of importance I will put bitcoin on the first place.
Beyond doubts sometime bitcoin will be changed by a more interesting and prospective cryptocurrency but until that moment it is impossible to take a guess that cryptocurrency.

That's certainly true, mate. Most altcoins are simply created to benefit the developers instead of the end user. It's no wonder why they've failed in taking Bitcoin place across the crypto market. Not to mention, most altcoins have a lesser degree of security than Bitcoin. Many people trust the pioneer cryptocurrency because it's extremely secure, and serves well as a store of value. If altcoins want to be as good as Bitcoin, they need to have extremely active development, innovation, and most of all, marketing/promotion. This is the key towards achieving mainstream adoption as we know it. Only then, altcoins will be able to present themselves as true contenders of Bitcoin.

Still though, Bitcoin is the father of Blockchain technology. Considering that every cryptocurrency uses Blockchain as their base layer, it's very unlikely that they'll replace the original project anytime soon. Also, the most prominent altcoins on the market today, can easily be replaced by newcomers in the crypto space. In the world of crypto, nothing is certain. Even Ethereum could easily lose its place on the market in the long run. But Bitcoin will remain as the top cryptocurrency of the market for the foreseeable future. Hence, it's impossible to replace Bitcoin anytime soon. Just my thoughts

the same question, why there's nothing could replace gold yet
cause people believe in them.
that's what make them so valualbe.
 there are alt-coins. and alt-metal. but they're just altenative case.

I think you have a point but right now we don't have to talk about it because bitcoin is not in the mainstream yet, so we have to wait a long time for this to happen,
And I see that bitcoin will never replace bitcoin, But bitcoin will only be used because of the new coins that are emerging today to fill alternative bitcoin payment methods.

I think the answer lies on every altcoin purpose in the blockchain and the community
as i read correct me if im wrong , bitcoin purpose like what satoshi nakamoto wan'ts
bitcoin to be an accepted currency, while bitcoin is created to that purpose, the other coins
or altcoins purpose is different from one another , others might be like a crosschange to another tokens or coins
while others are being use for security reasons and so on, while all of this is different each of the purpose is
very important and play a vital role in crypto community either it a currency , security, and more
but still bitcoin is bitcoin its core is very different from the others  are just a copy with different algorithms
i hope i help you a bit try to check the difference in google they have full information about it

I think the most important reason is that Bitcoin is the most trusted cryptocurrency. People use Bitcoin to buy altcoins so when Bitcoin price falls, other fall too. Nowaday, most new currency are borned with ICOs and many of them are scam.

Maybe one could, but why would it?  If it did, wouldn't it get replaced?  If it will get replaced too why value it in the first place?

Most altcoins are hobbled by their creators motivations to line their pockets.   E.g. Ethereum premined 72 million tokens.

Most altcoins that don't have extremely scammy origins you hardly hear about because they don't have fat pocket books to buy placement on exchanges/website listings/conferences.

To differentiate themselves from Bitcoin altcoins make various design departures, some might be useful-- but if they're really that useful, Bitcoin will likely adopt them, so they need design departures that Bitcoin would never adopt and those tend to be ones that make the economics suck or which severely hobble decentralization at least in the long run.

Exactly. You can't beat the original project which started this craze in the first place. Bitcoin is known as the father of Blockchain technology, and without it, many of the altcoins we know and love today wouldn't exist. We've seen how the market depends on Bitcoin to succeed one way or the other. After all, Bitcoin is the reserve cryptocurrency of the crypto market. With an ever-growing market cap, it becomes harder for altcoins to be able to reach the pioneer cryptocurrency's top spot on the market. The only altcoin that's close enough to replace Bitcoin, is Ethereum. But even Ethereum, is struggling to get past new ATHs because Bitcoin is still on a constant decline in price.

Which is why, I believe that Bitcoin will remain as the "King of Crypto" for the foreseeable future. Unless a new cryptocurrency comes into play with better tech than Blockchain, I don't see altcoins replacing Bitcoin anytime soon. Time will tell us whenever Bitcoin will be able to maintain itself over time, or fail altogether. Considering that it's been just a decade of success since it's inception, I doubt that Bitcoin will die sometime in the future. The rest of the cryptocurrencies on the market will simply follow Bitcoin's footsteps for years to come. As long as you invest into Bitcoin above all other altcoins, you won't have nothing to worry about. Just my thoughts

Many users also invested time and money for ICOs that can be considered scam as of now. During 2017, I participated a lot of ICO and earned a lot but now it's worst than I expected. Other assets that is eth-based are not profitable and should be disregarded in the community. That's the reason why bitcoin is still on the top.

Strongly agree with you. The ethereum-based token sold at ICO is the biggest problem because it is often used to do scam projects. I have 5 times invested in scam projects and decided to no longer buy ICO coins which made me lose a lot of money.

Talking about crypto and blockchain are talk with bitcoin only because have higher price than other coin, why many altcoin can replace with bitcoin position because price of altcoin never can take with bitcoin position, now only bitcoin cash have higher price than other altcoin but still far from bitcoin price, during many altcoin goes down when make bitcoin with lower price.

well in my opinion bitcoin or crypto is the new technology
that will replace the current payment system online