Topic: Why hasn't any altcoin replaced bitcoin? - page 8. (Read 3501 times)

 It hasn't even been 10 years since the inception of Bitcoin. Cryptocurrency is still in introductory phase. Bitcoin having the first mover advantage, was able to take a big market share. Then due to excessive manipulation in altcoin market, people started shifting towards Bitcoin more because of which now BTC is at 70% dominance in overall marketcap. Right now, taking market cap from BTC to become a number one currency isn't that easy for any coin. But that could happen in future if some altcoin comes with disruptive use case.

Really, but also altcoin was also had on that feature. For me, no one replace Bitcoin because it is the first crypto and it no altcoin can replace it even the ethereum can't. Crypto was being familiar due to bitcoin the reason why it is number one and also its values is very high and the price of altcoins is very far from bitcoin the reason why it's irreplaceable. But probably it will happen, but it has a less chance, who knows.

One of the reasons why nobody can beat bitcoin is its anonymity. Nobody controls bitcoin and it is still alive today due to everyday adoption. And this is what bitcoin has that altcoin does not have, which is why it is preferred by all investors because it is the father of all altcoins.
And not everything is changed, because bitcoin is unique and its uniqueness is not what everyone else can do.

Right from the start, the hype and saying that bitcoin is the king of crypto has become a catchphrase for all users, as long as the allusion to crypto, the first name that appears in the brain of we will be bitcoin. But just one strong advertisement is not enough, bitcoin has also demonstrated the value and admiration of people on how can help it go up, never miss a moment to prove its value, the legend is still maintained and exploded strongly after many years, other altcoins are nearly impossible to achieve to such reputations

Opinions that can be understood and must be recognized, that the existence of crypto because of the existence of bitcoin. the two cannot be separated from each other. so for now no one can match the greatness of bitcoin, especially to replace the existence of bitcoin. bitcoin is the king of crypto

I think the first company to create is always the first one in the market. For example, Microsoft has come to the market after that, but no one else can occupy the position of Microsoft.For that, the first company is different. No one can capture the love of Bitcoin. No coins at all.

Did you know? Because of bitcoin cryptocurrency has gained a lot of popularity in the crypto space, its highly impossible to replace the bitcoin.

Since you have touched upon Scalability where you claim that some of the altcoins have much better scaling solutions than bitcoin and if that is the case i would like to know about those coins and whether they could manage the same number of transactions when they user base starts to increase, we are just a new technology and there are developments going on to improve bitcoin and i still hope that we will find a solution since the smartest people are dedicating their work to improve the technology.

Crypto become alternative payment for the future and only bitcoin become most interested currency than other coin like ethereum, ripple and litecoin. Bitcoin main for all altcoin and never can replace with any new coin have higher price than bitcoin, many altcoin have listed on exchange market but keep lower price under bitcoin.

I believe crypto will be an alternative payment option. now many large companies that you say have received crypto. but at Starbucks, they still convert it to Fiat. we just need to wait that things will turn out well, crypto is soon the best option for payment.

one of the reasons you have mentioned. the next reason in my opinion is, because bitcoin is a pioneer of crypto currency. full decentralization, full property rights. what about altcoin, nothing like that. Bitcoin without altcoin is fine. altcoin without bitcoin is gone. other than that 100% of people's trust in bitcoin, not altcoin.

That is definitely true, but bitcoin developed a very hardcore, very dedicated following by being the first cryptocurrency.  That's why there hasn't yet been an altcoin that's even come close to challenging bitcoin's supremacy, even though there are alts that perform *much* better than bitcoin! 

Somehow bitcoin was the one that rocketed to $1000 first, endured all the drama with Mt. Gox (and survived), and had retained its loyal following not only through those events but to the present day.  It really is amazing.  And when someone creates an altcoin, even if it has features that bitcoin does not possess, it is still measured against bitcoin and particularly in its performance in the market.  So far no altcoin has attracted anywhere near the size and passion of the community that bitcoin has. 

But bitcoin *isn't* the best payment option out of all the coins on the market.  If I was waiting in line at starbucks and if they accepted altcoins as well as bitcoin, I would much prefer to pay for my coffee with a coin like doge.  The confirmation would be quick and it would be next to nothing to send the coins.  That might not be true if I were to pay for my coffee with bitcoin.

That is truly right every single day the new technology is upgraded and  yes I agree and wknow that bitcoin and altcoins is under in new technology, but so not compare it in things like television improvoment, altcoins and bitcoin are not things it a currency came from digital money. I think no need to explain the difference of altcoins and bitcoin as currency.

It is really hard to say why any altcoin still couldn't reach Bitcoin's level in terms of price. I can try to explain the reason that Bitcoin is the oldest crypto in the market but that is still not enough to prove it.

Bitcoin is a cryptocurrency best made, it has made all the changes first and is therefore one of the most popular and best payment options of all altcoins.
It is perfectly made and has opened up some new horizons in the world of cryptocurrency.
It has entered into many payment systems, like in trading, and therefore all other currencies will not approach it. It is very used and this makes it difficult for altcoins to enter the market.

It seem you are only looking at bitcoin as a technology but even if you do that no altcoin has surpassed bitcoin because if an innovation is made in an altcoin what it is going to stop the bitcoin developers to add that same characteristic to bitcoin? And even if the day came when a group of developers created something better than bitcoin and those characteristics could not be imported to bitcoin, bitcoin also has first mover advantage and that cannot be easily overcome.

And if that was not enough bitcoin is a network as well and the more people are using it the more valuable it is, this is the reason why it could be easy to create a facebook clone but you cannot replace the billions of users it has, and finally bitcoin is also a currency and historically people do not abandon the previous leading currency unless they lose confidence in it.

There are several reasons why Bitcoin maintains its domain, one of them is its prestige of having been the first cryptocurrency, another reason is that the difficulty of its mining is so great that it is handled efficiently by large entrepreneurs, Bitcoin is the most popular and accepted and its price volatility generates speculation spaces and millions of people have obtained benefits.

As for the Altcoins, the biggest problem is that no project has yet arisen that makes a commitment to mass use, where an intense campaign is made to facilitate millions of people the use of certain cryptocurrency, although several projects are trying , I consider that in the near future a project with such characteristics will emerge.

No altcoin will ever replace Bitcoin because not a single coin is being used by the mainstream for its intended purposes. All coins are still 95% speculative and the trading is all speculation, no real demand. Bitcoin is still the largest  because it is the first attachment by many crypto enthusiasts.

Only when a coin becomes mainstream will it have a chance to replace Bitcoin.

Which one? Bitcoin is not gonna disappear anytime soon because as long as internet exists, Bitcoin is still gonna exist even altcoins are getting the popularity over Bitcoin.
I don't know why people being so skeptical because altcoins are getting used by more people, yet Bitcoin is still at the top :d

Of course. There's still a slight chance for an altcoin to replace Bitcoin sometime in the future. After all, nothing lasts forever. But somehow, Bitcoin has managed to retain mainstream adoption and branding recognition over the years. Despite being inferior to other altcoins in terms of scalability, it's still the world's most secure Blockchain network to date. I believe that's why no other altcoin has been able to replace Bitcoin, since they have a lower degree of security than it. Not to mention, their market capitalization is much smaller than Bitcoin's. If we take a deep look at the world of crypto, we'll notice that they're more of the same.

Altcoins are based on the same technology as Bitcoin (which is the Blockchain). The only true way to threaten Bitcoin's existence is to come up with another revolutionary technology that's superior than Blockchain itself. There hasn't been an altcoin which has done this yet. However, as technology progresses, we'll be able to see this in the future. It'll be survival of the fittest as Bitcoin and other altcoins battle their way towards the top spot in market cap.

Nonetheless, I believe that altcoins won't be able to replace Bitcoin for a very long time. The pioneer cryptocurrency will remain as the "King of Crypto" until something new and revolutionary comes up that'll threaten its very existence. In the meantime, altcoins will serve as a complement to the main Bitcoin blockchain. In areas where BTC cannot fulfill certain tasks, altcoins are useful. But they can never outmatch the security and reliability Bitcoin has been known of for quite some time. Just my thoughts