Topic: Why isn't there an Altcoin capable of overtaking Bitcoin ? - page 2. (Read 2574 times)

Read this article written in 1988
https://socioecohistory.wordpress.com/2014/07/26/flashback-1988-get-ready-for-a-world-currency-by-2018%E2%80%B3-the-economist-magazine/

WARNING! COMING SOON TO A BANK NEAR YOU - A CASHLESS SOCIETY
By Marilyn MacGruder Barnewall
http://www.newswithviews.com/Barnewall/marilyn224.htm


 

Well said, but fiat exchange will also exist do you think, Bitcoin was design as  a way out of fiat

While I'll be the first to admit that I'm nearly wrong about everything, and therefore probably right about one thing, laughing the numbers off won't give you a proper risk assessment.

This is hilarious! Are we in the alt section again on BTCtalk conspiring to run a coup d'etat on Bitcoin? ROFL!

It was in the 90s in total market cap of all cc when I got here, and now it is consistently in the low 80s (and that's with a halving) so maybe remittance is the one trick it can do--do you need trust for that or low-fees+fast-transactions?

It is not something that will happen overnight.
The decline in bitcoin's market share,though,is pretty much linear(albeit choppy)



source: coinmarketcap

 


 

Simple, bitcoin is the prototype of cryptocurrency, maybe one day in 2050, eth or anohter altcoin will replace bitcoin, like motorola's(motorola is the prototype of mibile phone) failure.

because none of the altcoins are created to do that.
instead whenever someone starts a new altcoin project the only thing in his mind is the amount of money he can get out of it. so all the projects turn into pump and dumps and die after the dev moves on to the next project and more money.

besides when there is a good thing going on (with bitcoin) people will not look for a substitute.

bitcoin is gold

People think that because BTC can function as a commodity.
But there is a problem with that concept.

BTC Utility
1. Crypto trading pairs
2. Crypto to Fiat Conversion
3. Payment system.

Gold has many more utility uses than BTC,
http://geology.com/minerals/gold/uses-of-gold.shtml
1. Jewelry
2. Electronics
3. Financial Store of Value
4. Dentistry
5. Medical Uses
6. Gold Awards & Status Symbols (Olympic Gold Metals)
7. Glassmaking

Gold has unique characteristics that make it better than almost all other metals.
So what happens when it's value fluctuates down, the other utility will use more of it and that will decrease supply and stabilize it value.
Where as if the Price of Gold goes higher , the industries use as little as possible, but they still have to use some as nothing else meets their requirements as well.

Now lets look at BTC Utility as a payment system,
To send $4 it costs me almost ~25 cents, and that is with the current BTC ~$600.
With LTC, I can send $4 and it cost less than 1 penny with LTC current price ~$4 per LTC,
LTC price could increase 20X up to  $80 per LTC and it would still be cheaper to send as LTC than BTC.
Meaning BTC will not be able to hold on to a Payment System as a utility.

CoinBase adding LTC has put the Nail in the Coffin for BTC, by adding a LTC to Fiat Gateway.
So BTC will also lose its crypto to fiat gateway conversion utility.

Leaving it only with a Crypto Trading Utility to keep it Solvent.
With it recent spike in price near the halving, many crypto coins were actually completely pushed out of the BTC pairing as they could no longer meet the price of 1 satochi.
Leaving those coins to only have LTC & Doge for their main pairings.
If the BTC price stays over $300, it loses those coins as a support matrix for its prices, and all of those satochi .

And here is the Rub,
Gold is physical and does not need a network of PoW ASICS miners to keep it running.
The underlying flaw in BTC, it's PoW miners have to make a profit to continue mining , but with all of the lost utilities uses their will not be enough transaction volume to keep them solvent.  
Just a matter of time, until this becomes reality and not conjecture.

 

bitcoin is gold....will always be......probably will have a prohibitive price to be used regularly, prohibitive transactions cost, prohibitive as a pair for altcoins, prohibitive as handling all  network transactions in a fast pace.....bitcoin won't develop n scale easy n fast...but that's good....

Litecoin will emerge to fullfill this gap, n will we see others more n more, like bitshares n omni.....but market price n legacy/ sustainable growth I can only see for btc n ltc n maybe another one for microtrasactions with a good global reach.

An overblown database to track, bag , and tax you to death.

They were never designed to do so.

The "overtake Bitcoin" meme implanted in the heads of alt coin true believers is a scheme to attract liquidity.

Carrot and the stick approach.

Altcoins are designed to be the only real market Bitcoin has.

Between that and new money Bitcoin wouldn't really exist they way it does today.

A king needs subordinates or he doesn't have a kingdom.

community is stong dev team strong can and easy exchange to fiat money can replace bitcoin
is litecoin is requirement is in , but until now litecoin is stagnant and can't replace bitcoin

This is my theory exactly... and when they include LTC as an option for the CB wallet service (in 2 months) it will continue it's domination. I wonder what 9 billion will look like sliding into a coin with a 180MM market cap? ROFL... the green dildo we saw on MTGOX with the USD/BTC pair will be nothing compared to the BTC/LTC pair. Takes days/weeks to move dollars into BTC in any sort of significant matter, but for BTC to slide into LTC it could literally happens within hours/days.

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..

FTFY.

I can't think of another altcoin that has a reason to exist.  Some of the newer ones claim to have features that bitcoin doesn't have--smart contracts and all that--but time is going to tell whether that's true or not.  All the ones that clutter exchanges like Yobit are absolute garbage and exist(ed) only to enrich the developers.  Pump and dump all the way.

Bitcoin has the brand name.  It's like Coke, and all the other shitcoins are like store brand colas that taste like shit.

Alt coins are faster and can handle more transactions, so why is BTC still at the top.

Legacy Hype, it was the 1st popular one and with being first has the current lead on Crypto to Fiat Conversion Gateway.

Now that Coinbase has added LTC, this lead will begin to diminish with every passing month.

Reason is pure economics.
Now that LTC can act as a Gateway between the crypto & fiat , cutting BTC out of the Game Completely.

Due to it's faster speed and lower transactions price , it will be in higher demand.
With BTC, I can send $4 worth of BTC, which is 0.01 , but my cost to send it , is .0004 (23 cents)
With LTC, I can send $4 worth of LTC, which is ~1 LTC , but my cost to send it, is only 0.00010000 LTC (not even a Penny)

You can send BTC, because you believe the hype,
but poorer people & smarter people will send LTC because it will cost less and is faster than BTC.

Hype takes time to fade, but BTC Hype will fade with every passing month,
as economics make the point clear to everyone.

 

Because bitcoin is amazing with it's PoW network. I think AppCoins have a chance of getting a bigger marketcap and user base than bitcoin. Bitcoin will probably remain and start being used by new users of AppCoins because of blockchain length and PoW security.