Topic: Why hasn't any altcoin replaced bitcoin? - page 7. (Read 3455 times)

Many altcoin have lower price and keep higher for long term way its make never have altcoin can't replace bitcoin position. When bitcoin going down maybe altcoin keep lower price and never take back to be higher price than bitcoin. Until today no have altcoin can change position place bitcoin in number one on exchange market and have higher price.

Exactly. It's no wonder why many altcoins have been unable to surpass Bitcoin in terms of market cap. Most of the altcoins we know and love today have a lesser degree of decentralization than Bitcoin. The reasons for this are many including but not limited to the type of consensus algorithm used, and supply distribution. Considering that most altcoins are simply pump & dump without any real use cases for the mainstream world, they won't be able to overcome the pioneer cryptocurrency anytime soon. With Bitcoin's market cap (and dominance) on the rise, the chances for an altcoin replacing Bitcoin becomes bleak over time.

Of course, there's still the possibility of another cryptocurrency taking Bitcoin's place in the future. If the alternative cryptocurrency manages to gain massive traction within the mainstream world while obtaining unparalleled security and reliability, it could become a fierce contender against the world's largest cryptocurrency by market cap. The chances of replacing Bitcoin becomes even higher, if an altcoin adopts a unique and revolutionary technology that's better than Blockchain itself. Nowadays, every cryptocurrency is based on the Blockchain one way or another. In their current state, they cannot defeat Bitcoin since they're using the same technology of the original project. A new technology which proves to be much more efficient and secure than Blockchain technology could completely change the whole scenario. But it could take years to see this happen (if it ever does).

Nonetheless, it's best for Bitcoin to remain as the "King of Crypto" while other altcoins follow its footsteps. After all, the crypto market depends on Bitcoin as its reserve currency. Everything moves with Bitcoin, and without it as the dominant cryptocurrency, things would change drastically within crypto land. In the future, there will be a reduction in the number of altcoins being used worldwide while a select few (like Ethereum and Monero) will survive a lifetime. All in all, it seems that an altcoin replacing Bitcoin is more of a dream than anything else. Just my thoughts

What happens is simple, Bitcoin is the leading currency, the only way an altcoin can try to compete with Bitcoin is:

1.- If the altcoin have a backrest based on gold, oil, precious stones among others.

2.-  Compare the altcoin when you are 10 years old.

After that time has passed and after having passed through some stages of the market such as accumulation and distribution, it is possible to begin studying its future and as a possible competition vs Bitcoin, apart from seeing what community it has and what technology it offers.

Another way to see and compare is if the new currency could reach a life of its own, that is, it does not depend on the price of Bitcoin, as is the case with all altcoins,

It is something very difficult to expect, because you need a coin with those characteristics and with history, in addition to having a life of its own, that is why the possibilities are minimal. Bitcoin will remain the King of Crypto.

Altcoin not available replace bitcoin price because have much supply than bitcoin, many altcoin have supply with billion coin and not available although you hold with long term with your altcoin but price never can replace with bitcoin, altcoin only have position under bitcoin and next time never have new coin can replace with bitcoin.

Replying the question on your topic, I believe you know the answer. Bitcoin is the very first cryptocurrency. Moreso, it is the grandmother of each and every cryptocurrency. Hence, I don't think there's any alt coin that can be like btc.

In this case, no one wants to replace bitcoin but only to supplement it, that is, bitcoin along with altcoins will exist for a long time.And the that will in the future I not know.But clearly 1 bitcoin will not remain.

This.

The problem is the cryptocurrency community that is so obsessed with trying to find the next ethereum and doesn't like the hard work required over several years to ensure an alt succeeds.

Bitcoin had certain advantage being first cryptocurrency. That wasn't the most important but it strenghtent its position, reached the highest value, adoption and implementation in real world. All other coins have very difficult task trying to achieve that but I don't think that any other altcoin will be ever so successful. To achieve that it should be far more techical advanced, more valuable and without all issues that Bitcoin has. At the moment I.don't think this is possible.

I believe 1 day an altcoin may very well replace Bitcoin. But Bitcoin was the original cryptocurrency.  It will always be worth something because it was the first.  But as far as fees and use cases some alts have already replaced it. The demand for the Original Bitcoin will always be there though. Maybe one day the Developers will build more functions making the demand for it much higher!

Bitcoin is the first and original OG 
People like to stick to what they know and bitcoin works and works well and we all know about it. It is secure and safe to use. I think it is mostly because there is no real reason to change to anything else.
There is only a reason to hold some altcoins to pay for things as well. Secondary to bitcoin.

In order for an alt to replace bitcoin everyone has to coalesce and rally behind a single alt.

We're not seeing that. Instead new alts are launched every day and people jump onto the bandwagon hoping that this is "the one". But they usually fizzle out and then the mob moves to the next thing.

As a result none gains much traction because the crypto community is too fickle (and too eager for get-rich-quick schemes).

That's because Bitcoin is the most decentralized and secure cryptocurrency till date despite having scalability issues. BTC dominance today is 66% and as far as I see Bitcoin will continue to rule in years to come.

Bitcoin is the one who develop first and after the bitcoin was develop, the altcoins follows then as we think about it bitcoin will be the seniority among all the coins even the ripples.
I think the main reason why no altcoins can defeated bitcoin is just because bitcoin is the number one in the coinmarketcap and bitcoin is the one who have the large volume and liquidity, no altcoin can equal to bitcoin when it comes to this terms.
Bitcoin is the main coin that has been develop until now and the other coins or altcoins are just depending on what would be the movement of bitcoin when it will goes up or down. That would be the reason why altcoins cannot defeated or replaced bitcoin.

Bitcoin has a feature that no other altcoin has, and it has survived a decade in the crypto world. Bitcoin has already proven that it is the only king of crypto currency and no one can steal it. And if any new technology comes along that will try to beat bitcoin. First they need to break people's support for bitcoin and I think this is unlikely to happen.

The time that Bitcoin had existed is one of the greatest influences that made it became and continue to become the the top among the cryptocurrencies which dominates the market volume if you were to look at the coinmarkecap. Through the time, it had garnered people's trust due to how this cryptocurrency is made which is decentralized and peer to peer. In the future, Bitcoin might not be used a regular currency but if we look at history, gold also been used monetarily but as it became expensive it had transformed to become a luxury and one of the major player in the stock market being used to back the fiats and other things in the past and in the modern times.

I think it's because when it comes to a software , it's not always like the example that you gave , we all know how our parents choose the appliances that are belonging to a trustable company with a big history with them , or how we choose with respect to mobiles ...apple was launched in 2007 ( smartphone ) and Samsung in 2009 so if you had the chance , will you buy apple or Samsung ?
The thing is it gets updated !
It does have more trust !
The creators and the people responsible for maintaining it have more experience!

Why need to compete and replace Bitcoin? Well, in the first place, altcoins are not created to compete who is the best among them and who should be number one, their mission should be how they are going to change the world into full technology and innovative digital world, and not just after the money that they will gonna earn from putting up altcoins, and if one will compete, it will not win as Bitcoin is far superior from others.

That's certainly true, mate. Most altcoins we know and love today are rather speculative than anything else. Bitcoin and Ethereum seem to be one of the few cryptocurrencies on the market with real use cases for the mainstream world. With decreasing demand of altcoins within the crypto market, they won't be able to topple the world's largest cryptocurrency by market cap anytime soon. While they have outstanding features and greater performance than Bitcoin itself, they lack trust among people worldwide. That's mostly because altcoins have a lesser degree of security and reliability than Bitcoin. Still though, there's still a possibility of an altcoin replacing Bitcoin in the future if it gathers mainstream adoption by a large scale. Such coin needs to be actively developed and promoted heavily across mainstream media in order to succeed. It also needs to have a proven track record of stability and reliability so that it can obtain the trust of people worldwide.

Nonetheless, it's becoming nearly impossible for an altcoin to replace Bitcoin since it has grown too big to fail. Bitcoin has been on the scene for quite a long time, while most altcoins are relatively new to the world. With an ever-growing market cap, and user adoption, I believe that Bitcoin will remain as the #1 cryptocurrency on the market for a very long time. Altcoins will simply remain as "inferior" blockchain networks for the foreseeable future. Just my opinion

How Altcoin can replace bitcoin and I will answer it simply, because bitcoin is the first and most popular digital currency in the world, and Altcoin comes as an imitation of bitcoin but cannot be like perfect bitcoin, so how can imitation replace the original bitcoin, and of course the original is much better and has a different quality than the whole.

For me personally, explaining the Bitcoin phenomenon is very difficult, because if you compare the capabilities and technical characteristics of Bitcoin and other cryptocurrencies, then some coins are superior to Bitcoin in some respects, but nevertheless, today, Bitcoin capitalization has the best performance in the entire cryptocurrency market, while  Almost 60% of the total cryptocurrency trading volume relates specifically to Bitcoin.  People believe in this coin and therefore Bitcoin is a leader in the cryptocurrency market.