Will Bitcoin Be Dethroned by an Altcoin? Not in This Life

d5000

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Decentralization Maximalist

Quote from: findingthemoon on May 22, 2017, 10:00:46 PM

Bitcoin doesn't fundamentally have anything that can't be found in an altcoin, the only thing going for it is that it has first mover advantage and currently a high hashpower in relation to anything else out there.

No. The main advantage Bitcoin has is its ecosystem. It is the most used cryptocurrency, there are real values behind it. Hashrate is easy to achieve, a ecosystem of businesses, organizations and good developers is not.

Regarding use, Ethereum has about 40% of Bitcoin's transaction volume, but I'm sure that's because there are plenty of automated transactions executed by smart contracts/dapps. All other altcoins are insignificant as of now. See here how "much" the top 10 cryptos are used as of now.

Remainder

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I think bitcoin can be dethroned by altcoin in future but it depends on how this altcoin play in the market.

L00n3y

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Quote from: MMysterious on May 23, 2017, 04:46:18 AM

Quote from: pooya87 on May 23, 2017, 03:37:18 AM

everyone is caught up into the hype of the altcoins these days, the price has blinded them all. the fact that an altcoin can simply rise up nearly 800% in 2 months should be as a warning to any investor to move carefully because no matter what that altcoin is, that huge price rise is a bubble and can not be controlled forever. it will pop at some point.

True, everyone is caught up with altcoin hype these days because of the price but I know a lot of people who's investing altcoins because in the end they would still convert their profits from whichever coins they have to btc. So that really means Bitcoins can't be dethroned by an Altcoin. It won't happen I'm sure of that.

Yup. Some are just going on with the flow because it is better to be early in something take the risk in altcoins because it might be surpassed Bitcoin. Some are earning in altcoins and investments that's why they go to altcoins but when they get their earnings they will convert it to btc also. Bitcoin will be hard to overthrow by altcoins but still the possibility is there. I'm more into BTC, but I'm more into countermeasures. I can't just le all my wealth online into one Cryptocurrency. BTC will be at the top I'm sure of that too but I'm not ignoring also the alternatives.

MMysterious

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Bear season or just the beginning

Quote from: pooya87 on May 23, 2017, 03:37:18 AM

everyone is caught up into the hype of the altcoins these days, the price has blinded them all. the fact that an altcoin can simply rise up nearly 800% in 2 months should be as a warning to any investor to move carefully because no matter what that altcoin is, that huge price rise is a bubble and can not be controlled forever. it will pop at some point.

True, everyone is caught up with altcoin hype these days because of the price but I know a lot of people who's investing altcoins because in the end they would still convert their profits from whichever coins they have to btc. So that really means Bitcoins can't be dethroned by an Altcoin. It won't happen I'm sure of that.

pooya87

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everyone is caught up into the hype of the altcoins these days, the price has blinded them all. the fact that an altcoin can simply rise up nearly 800% in 2 months should be as a warning to any investor to move carefully because no matter what that altcoin is, that huge price rise is a bubble and can not be controlled forever. it will pop at some point.

Sadlife

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ETH is only good for for short term investment ETH holders should gain profit and move into a much better long term crypto currency especially when bitcoins scaling problem will soon be fixed.
Bitcoin is the most adopted payment method by merchants, countries, good and services, local businesses, bitcoin will never be replaced by centralized currency that is created by bankers

hl5460

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news.8btc.com

Quote from: jekjekman on May 22, 2017, 10:35:23 PM

Quote from: hl5460 on May 22, 2017, 09:42:15 PM

Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.

The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.

http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

ETH is like playing around 8-10% of Bitcoin's value as of now, and bitcoin will never be dethrone by ETH or any other altcoin because in my own opinion BTC is the medium or primary trading factor to convert it back to FIAT of any other altcoins, and most of the characteristics of new alts is being overpass by the devs of BTC.

You are right, BTC is still the most popularly adopted coin but ETH is taking 21% of total market cap.

jekjekman

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Quote from: hl5460 on May 22, 2017, 09:42:15 PM

Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.

The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.

http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

ETH is like playing around 8-10% of Bitcoin's value as of now, and bitcoin will never be dethrone by ETH or any other altcoin because in my own opinion BTC is the medium or primary trading factor to convert it back to FIAT of any other altcoins, and most of the characteristics of new alts is being overpass by the devs of BTC.

findingthemoon

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Bitcoin doesn't fundamentally have anything that can't be found in an altcoin, the only thing going for it is that it has first mover advantage and currently a high hashpower in relation to anything else out there. But there are plenty of decentralized heavy altcoins, and even bitcoins development is heavily centralized in the hands of few players be that core developer or certain mining companies so I don't think its fair to say bitcoin is better even in that regard to certain alts.

So what it comes down to I guess is the only thing its got going for it is hashpower, but hashpower can be changed at relatively short notice.

I agree however that bitcoin is not going to be dethroned soon, but it can obviously change in the future. And why don't think it will happen soon? Because compared to other alts bitcoin is used much more in the real world, the altcoins even ethereum is currently only used by traders, ICO's and a few other limited projects.

Paashaas

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ETH will be in trouble when Rootstock arrives. RSK offers a better smart contract solution than ETH.

soul-impact

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Quote from: hl5460 on May 22, 2017, 09:42:15 PM

Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.

The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.

http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

Although the ethereum is growing extremely strongly, however, it still has not enough power to compare with bitcoin. In recent times, ETH has grown remarkably and made people more trustworthy about it, I'm sure there are not any coins that are powerful enough to determine bitcoin. It's too early to say that.

25hashcoin

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ETH holders should take profits and exit to BTC and/or ETC while they still can.

hl5460

legendary

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news.8btc.com

Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.

The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.

http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

Topic: Will Bitcoin Be Dethroned by an Altcoin? Not in This Life (Read 1498 times)