I don't think you all know what innovation means.
Oh dear Allah you really are a worse Spoetniktard than we all first thought:https://medium.com/swarm-nyc/being-first-to-market-doesnt-mean-success-81648df045df#.fr938fcrr
Topic: Why isn't there an Altcoin capable of overtaking Bitcoin ? (Read 2574 times)
https://medium.com/swarm-nyc/being-first-to-market-doesnt-mean-success-81648df045df#.fr938fcrr
Thanks for your questions but i think there is up coming coin which has the the same code base with bitcoin.
VirtaCoin is a decentralized crypto-currency, like bitcoin. In fact, it is based on the Bitcoin Codebase, so it works almost exactly like bitcoin.
VirtaCoin is a decentralized crypto-currency, like bitcoin. In fact, it is based on the Bitcoin Codebase, so it works almost exactly like bitcoin.
(5) Bitcoin's organized culture of hate/greed...
and the alt space doesn't have this? woah. someone must be piping a different internet into my computer because there seems to be enough of this to go around for every coin.
It is not something that will happen overnight.
The decline in bitcoin's market share,though,is pretty much linear(albeit choppy)
source: coinmarketcap
The decline in bitcoin's market share,though,is pretty much linear(albeit choppy)
source: coinmarketcap
Now down to 80% share, Bitcoin's demise is almost a certainty:
(1) BTC is controlled by a cartel of probably < 10 Chinese businessmen (mining, ASIIs)...
The Chinese government could take out Bitcoin in 24 hours and no one would care...
The way the Hong Kong authorities allowed Bitfinex to swindle it's Customers tells you a lot.
(2) The 2016 block time standard is Graphene's 3 seconds (BTS, STEEM, others)...
This is very close to "real-time" processing required to do anything interesting on the web...
Frankly, I totally dread firing up Bitcoin and dealing with 10 minute blocks and $2.00 fees
(3) BTC is worth less than it was 3 years ago, that's a pathetic fact...
In tech, once something stops growing exponentially it's pretty much game over.
(4) Bitcoin has failed to go mainstream and is not even "hip" anymore.
(5) Bitcoin's organized culture of hate/greed which was totally exposed during ETH's recent troubles...
Is clearly holding back the advance of crypto in general (even more than the herd of scam artists here).
The crypto space is very dynamic and there will be big surprises in the next 2 years...
The opinions and polls here always support the status quo and have been dead wrong year after year.
Well for me, since every altcoin is dependent on bitcoin in terms of pricing, it's hard to really defeat just that. Also, since bitcoin is the first cryptocurrency that has reached the general public (and it is the most well known too), others would need to have an impressive media appearance first so that the public would lend some ears to that said crypto and give it a chance. Til then, I don't think others would listen to jargon and other techy stuff about a certain altcoin.
New Economy Monero (NEM) has a chance.
Very simple question with a very single answer:
1) Bitcoin is the longest surviving chain, this makes investors feel safer
2) Bitcoin has the best developers
3) Bitcoin has the strongest network
That's all.
1) Bitcoin is the longest surviving chain, this makes investors feel safer
2) Bitcoin has the best developers
3) Bitcoin has the strongest network
That's all.
This is probably the best answer,people are comfortable on developers that will troubleshoot any problems that might occur and I think Bitcoin has all features to always stay on top...
Remember they have reported hundreds of times in the past but they always come back stronger than before..
I can see it happening. The blockchain is getting longer and longer. That, Coupled with the ability to trace bitcoin transactions, and its vulnerability to 51% attacks.
Bitcoin was a revolutionary piece of technology. It will reign for years. But an altcoin reaching parity, and eventually taking over, is not a far fetched idea.
Bitcoin was a revolutionary piece of technology. It will reign for years. But an altcoin reaching parity, and eventually taking over, is not a far fetched idea.
With the abundance of Altcoins available people find it hard to stick to just one and rather pump and dump. There's still room for a Doge esq coin or maybe a POS coin but those depend on how many investors are involved and commitment.
Re: Why isn't there an Altcoin capable of overtaking Bitcoin ?
Because no coin has yet gained minimum economy-of-scale of network efforts:
The [chicken or egg dilemma] onboarding problem that every crypto has is the same. They can't get many users until they have many users.
the only coin that could even touch Bitcoin would be one that more closely matched the even dollar values. with BTC at $600-700, that means that a real FIAT to BTC change in the real world marketplaces and acceptance by a majority would have to see BTC used and expressed in Bits, which I believe is the 0.001 division, otherwise the numbers would be too confusing for people. 0.00075 BTC for a gallon of milk or 40000 Satoshis? For that initial switch to go well, a coin like LTC, well established and closer to the even exchange rate might make a good show against BTC.
in my opinion about all the other digital currency are indirectly depends upon the peice of bitcoins . the set their rates in terms of bitcoins. the better example is doge . since we can camapare the strenght of ether to bitcoins but i think it is also indirectly depwnd upon btc .
It would be hard for an altcoin to overtake bitcoin for the rest of the world are all watching which coin can it be and the whales will start to milk from it before it could even rise. They buy dump, and buy back and then dump..it will cycle until it can't grow.
Overtaking bitcoin is never an easy task for any altcoins even when they make many claims. The first thing bitcoin enjoys over the altcoins is the massive first mover advantage it has. Due to this factor, bitcoin was able to gather the support and attention of many investors and users. This is enough to keep bitcoin running and stay on the top.
The same investors and early adopters can manipulate the entire world to adopt and consider bitcoin as the king of cryptoland. There ain't no thing we can do about it. You can say start using LTC, ETH and ditch bitcoins, promote to your friends and all, but bitcoin is bitcoin.
Please don't misunderstand me, I am a fan of bitcoin and I support other altcoins such as LTC, ETH, NXT, etc. But I just want to throw light at the real situation without getting biased.
The same investors and early adopters can manipulate the entire world to adopt and consider bitcoin as the king of cryptoland. There ain't no thing we can do about it. You can say start using LTC, ETH and ditch bitcoins, promote to your friends and all, but bitcoin is bitcoin.
Please don't misunderstand me, I am a fan of bitcoin and I support other altcoins such as LTC, ETH, NXT, etc. But I just want to throw light at the real situation without getting biased.
I don't think you all know what innovation means.
FOR 99.9% A fancy tech
, I supposefor me a working solution for some problem that people will need that it's no fullfilled.
I hope make some money from it. 
I don't think you all know what innovation means.
in·no·va·tion
noun: innovation
synonyms: change, alteration, revolution, upheaval, transformation, metamorphosis, breakthrough; More
new measures, new methods, modernization, novelty, newness;
creativity, originality, ingenuity, inspiration, inventiveness;
informala shake up
"no appliance manufacturer can survive without an ongoing commitment to innovation"
a new method, idea, product, etc.
I don't think you all know what innovation means.
Just wondering why. Do you have a clue to that ?
In my opinion because bitcoin is more older than another coins and it becomes currency pairs on markets altcoins, if there are coins who has good innovations i think they can be overtaking bitcoin. Although it will be hard for doing because need time and seriousness. And if developer of ETH has seriousness, maybe ETH is candidate for overtaking bitcoin.
I meant TRUE REAL innovation..
You will only see a small amount of innovation from a product creation date, until the next AHA moment, and then the majority will update to it.
The innovated product was the blockchain.
However it is the same as any product ,
Takes computers, We used Punch Cards for years , until finally the Keyboard & Mouse came along.
Now ~25 years later, we are finally moving to direct voice control and hand gestures.
Once the main innovation is created , expect the next major one to be years even decades before the next increase.
Peercoin Proof of Stake is an innovation, although many want to argue against it.
Even Monero ring signature is innovated, personally no interest in it , but I would never deny it is an innovation.
The main thing right now is newer coins are able to handle a Greater Transactions Load at a higher speed and at a lower cost.
(Just like someone buying a computer or new smart phone every 3 years, does the old one still work , Yes it Does, but the Newer ones can do the same thing much Faster)
The next revelations are economic , which coin allows me to accomplish the same service at a Faster Speed and a Cheaper Price.
LTC is Cheaper & Faster & Now with Coinbase can complete as a Crypto to Fiat Gateway.
BTC is getting Slower by the Day.
FYI:
Saying an ALTcoin will never replace BTC,
is the same as saying that a New Dell PC will never replace your Commodore 64.
You will only see a small amount of innovation from a product creation date, until the next AHA moment, and then the majority will update to it.
The innovated product was the blockchain.
However it is the same as any product ,
Takes computers, We used Punch Cards for years , until finally the Keyboard & Mouse came along.
Now ~25 years later, we are finally moving to direct voice control and hand gestures.
Once the main innovation is created , expect the next major one to be years even decades before the next increase.
Peercoin Proof of Stake is an innovation, although many want to argue against it.
Even Monero ring signature is innovated, personally no interest in it , but I would never deny it is an innovation.
The main thing right now is newer coins are able to handle a Greater Transactions Load at a higher speed and at a lower cost.
(Just like someone buying a computer or new smart phone every 3 years, does the old one still work , Yes it Does, but the Newer ones can do the same thing much Faster)
The next revelations are economic , which coin allows me to accomplish the same service at a Faster Speed and a Cheaper Price.
LTC is Cheaper & Faster & Now with Coinbase can complete as a Crypto to Fiat Gateway.
BTC is getting Slower by the Day.
BTC is has taken +60min to make ONE block today ... it can not function as the one and all purpose coin ... it is nearly 100% certain that the transactions will overflow into the current established 'alts'.
FYI:
Saying an ALTcoin will never replace BTC,
is the same as saying that a New Dell PC will never replace your Commodore 64.
No altcoin has improved on Bitcoin.
Copying the concept of "Block-Chain" is not innovative new features.
Then adding ICO's make it far more scammy and pointless.
Why does a digital currency have to have a block-chain ?
think about it..
Copying the concept of "Block-Chain" is not innovative new features.
Then adding ICO's make it far more scammy and pointless.
Why does a digital currency have to have a block-chain ?
think about it..
An overblown database to track, bag , and tax you to death.
I meant TRUE REAL innovation..
Bitcoin show cased a new idea.. THE BLOCK CHAIN
What has happened since ? ..more block chains.
Altcoinz ? = ALL OF THEM CRYING WE AR TEH INNOOVATORZ !!!111111
The scene is full of short sighted idiots.
Why must a "coin" have a block-chain to begin with ?
Like we are not dealing with very bright people..
They see Bitcoin and fire off a "me-too coin"
Wanna speculate why there isn't one better ?
No one made one
Nor are they even trying !!
The fact that ICO's even exist at all is crystal clear proof of it.
Each ICO is just another spit on Satoshi's face.
They are a step down / in-reverse of actual innovation.
Which is what the OP asked about..
Until you all get that through your greedy SHORT SIGHTED profiteer heads do NOT expect
ANY Altcoin to ever accomplish anything.
And don't forget shit talking shills might as well all be talking to them selves
because planet earth could not care less what they "say"
Earth forms it's own opinion and it is LAW !
They have watched for 7 years and they have their opinions period /.
I seen a commercial long ago that sums it up.
It showed a million people all shouting in little cubicles covering their ears.
That is all i see with the bullshit moronic talk that permeates this board section.
All in vain..
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