Will Bitcoin be replaced by another cryptocurrency? - page 129.

carlerha

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Quote from: cryp24x on May 17, 2017, 03:57:18 PM

Quote from: Netnox on May 17, 2017, 11:18:25 AM

Check this:

https://coinmarketcap.com/

Ripple is getting so close. The Bitcoin market cap is stable at $29 billion, while Ripple is more than half of that amount at $14.5 billion. And most importantly, the share of BTC in the total crypto market cap has gone below 50%.

This is so funny, how can a billion coin get close to the million coin in terms of dominance if your reference is the current price times the total coins? I think it is a flawed logic. I would be convinced if we talk about stores that accept such currency. As of today, I think no one ever get near to bitcoin in terms of store acceptance and adoption.

Well I am not clear about what you said do you mean to say that when 50% of the world population will start using the bitcoin? 50% of the world population is very huge we don’t know whether it is possible or not but if even 10% of the world population start using bitcoin the prices will not be in reach then.

rchstr

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Quote from: staff_1307 on May 21, 2017, 09:53:22 AM

Yes, always to replace the old will come something new, as Bitcoin once came. It just takes time.

that has no sense. we know that the idea of crypto currency started to bitcoin. bitcoin cant be replaced by something. maybe some coins can go ahead to bitcoin but still bitcoin cannot be replaced or be dumped.

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Quote from: Subrojit Roy on May 21, 2017, 10:13:18 AM

I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.

There is no competition for bitcoin at a moment but it can be changed in future when new technology will arrive and at that time there is a possibility that bitcoin can get replaced by other currency.

i think bitcoin is the most popular currency as majority of people are using it and as you think that in future it could be replace by new currency with the arrive of new technologies, well so i think that when in future the new technologies arrive so bitcoin will also adopt these technologies and update its self

If we are talking of something entirely new, that may not be possible

Since that would effectively mean creating a new coin. The crucial point here is that we should distinguish between really new, breakthrough technologies (such as the blockchain technology itself is) and further development or improvement of an already existing one. Obviously, in the latter case, Bitcoin can easily adopt and adapt, but this is not so with a genuinely novice approach. For example, someone invents a new kind of money based on completely different fundamentals and principles than Bitcoin (read it may have nothing to do with blockchain), and how Bitcoin is going to update itself?

Subrojit Roy

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I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.

There is no competition for bitcoin at a moment but it can be changed in future when new technology will arrive and at that time there is a possibility that bitcoin can get replaced by other currency.

i think bitcoin is the most popular currency as majority of people are using it and as you think that in future it could be replace by new currency with the arrive of new technologies, well so i think that when in future the new technologies arrive so bitcoin will also adopt these technologies and update its self.

staff_1307

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Yes, always to replace the old will come something new, as Bitcoin once came. It just takes time.

White Christmas

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Quote from: shinratensei_ on June 07, 2016, 05:57:02 PM

Quote from: Moneroman88 on June 07, 2016, 03:19:53 PM

Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?

You can think again, Does bitcoin replaced by another cryptocurrency. Maybe you already know the answer. One main reason bitcoin is a mother of another cryptocurrency it's difficult to replace it for now . but nothing is impossible.

Yes in this world nothing is impossible. time will come that bitcoin will be replaced by other cryptocurrency but as of now bitcoin is the leading cryptocurrency so its hard to replaced in just a short term. I think it may take years before that happen.

Salazarian

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Quote from: deisik on May 17, 2017, 02:48:03 PM

Quote from: Hydrogen on May 16, 2017, 04:08:23 PM

If big blocks are a "good idea" has anyone made an altcoin with larger blocks to see how well it performs?

To really see how well it performs, you should raise the adoption levels of this coin to be on par with Bitcoin so that the blocks should be filled to the hilt. For example, Litecoin effectively has 4 times bigger blocks than Bitcoin (in terms of 10 minute blocks) while Dash outright has 2 megabyte blocks, and I bet you didn't know that, right? And what did it change? The Litecoin network processes an order of magnitude less transactions daily in comparison with Bitcoin, so how are you going to test these limits in practice?

Now they have SW and LN, and so what?

Yes really I never knew it before that the Dash has two megabyte block. It seems something interesting to me anyway as you have said the scale of transactions of the others are quite low as compare to the bitcoin so the fair comparison can’t be done. It can only be done it the transaction volumes of both the currencies are same or almost the same.

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Quote from: doomloop on May 18, 2017, 02:32:06 PM

Quote from: tranle789 on May 18, 2017, 06:30:33 AM

Bitcoins cant be replaced by other cryptocurrencies because everyone is using the bitcoin rigtht now so i dont think other people would love to use an other one right now as you know.

yes you are right that bitcoin can't be replace by another cryptocurrencies because bitcoin was the first digital currency, a lot of people have adopted it and the popularity of bitcoin took too much time as other cryptocurrencies were introduced after it and the popularity of bitcoin is greater as compared to some other cryptocurrencies, and people are working keenly in bitcoin because of its services, so i think also due to strong price the bitcoin will not be replace in future.

i agree with you that bitcoin would be never replace by another cryptoc currency because there is a lot of services allow on bitcoin and many online website are accepting bitcoin and bitcoin adoption increasing too much faster and demand is also increasing because going to stronger its price.

bncbnc

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Quote from: QuestionAuthority on May 15, 2017, 10:51:09 PM

Everything is replaced eventually.

Yes I agree that everything has a replacement. If we look into the past in the history we will find many things replaced by others. Like we can say that the direct use of gold for the purchase and sales of goods and services was replaced by different coins and paper notes and even the coins and the paper notes use is now becoming less due to the plastic money or the digital money.

carlerha

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Quote from: Osarman on May 15, 2017, 01:58:42 PM

Quote from: pinggoki on May 15, 2017, 12:46:31 AM

Quote from: speem28 on May 15, 2017, 12:30:08 AM

Quote from: fujyo86 on May 14, 2017, 04:26:30 AM

Bitcoin is most successful cryptocurrency ever in world. A bit difficult if bitcoin can be replaced by another crypto. Bitcoin stays in front of all cryptocoin. In future, there will be only a few surviving cryptocoin.

Yes, Bitcoin is indeed the most successful cryptocurrency ever developed. I mean for the past years, many cryptocurrencies started to make their own way in the world of crypto but they end up failing and suddenly disappear. Bitcoin is the only crypto that lasted for many years that became successful and getting more and more attention from people. So I doubt that there will be another cryptocurrency that can go toe to toe with bitcoin.

Indeed, I don't think another cryptocurrencies could replace bitcoin. As of now there are many coins are pop up inorder to beat bitcoin but no one could reach it. Bitcoin is most of the successful cryptocurrencies that ever made.

you are right that other crypto currency could never replace bitcoin because there is a lot of services are available on bitcoin and bitcoin is very much powerful and popular currency of the world and we know that bitcoin getting much power day by day.

Yeah I agree the bitcoin is got a separate recognition in the line of the crypto currency. Saying it will not be wrong that the Bitcoin is a benchmark for the alternates and many of the alts are trying to copy the strategies of the Bitcoin. In fact being a pioneer all the others in the line are just copying the Bitcoin

Colt22

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Quote from: hubinator on May 18, 2017, 12:35:44 PM

Bitcoin will stay, it will be adopted for finance. There will be also other altcoins that will meet different requirements (probably not fully legal, where privacy matters).

Other altcoins will be there but that do not mean that they will have the requirements which bitcoin will not be able to adopt with the passage of time bitcoin will develop more and the features of it will increase to provide more convenience to the users of bitcoin and people will prefer only bitcoin and none of the con will have the power to replace bitcoin.

Rinder

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Bitcoin still being a powerfull currencie and has several money invested on it, soo it might loose its current place but it will be hard since investors/miners are focus into it. Altcoins are used to pump and dump, but every moment bitcoin up almost all altcoins goes down, bitcoin has the huge delay into the transactions, until they handle those at once others coins can grow against it.

doomloop

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Quote from: tranle789 on May 18, 2017, 06:30:33 AM

Bitcoins cant be replaced by other cryptocurrencies because everyone is using the bitcoin rigtht now so i dont think other people would love to use an other one right now as you know.

yes you are right that bitcoin can't be replace by another cryptocurrencies because bitcoin was the first digital currency, a lot of people have adopted it and the popularity of bitcoin took too much time as other cryptocurrencies were introduced after it and the popularity of bitcoin is greater as compared to some other cryptocurrencies, and people are working keenly in bitcoin because of its services, so i think also due to strong price the bitcoin will not be replace in future.

Gameroid

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Quote from: KingdomHearts on May 18, 2017, 11:50:36 AM

Quote from: Osarman on May 18, 2017, 11:00:55 AM

Quote from: Tungsten-1 on May 18, 2017, 10:01:57 AM

Quote from: tranle789 on May 18, 2017, 06:30:33 AM

Bitcoins cant be replaced by other cryptocurrencies because everyone is using the bitcoin rigtht now so i dont think other people would love to use an other one right now as you know.

Yes you are right because bitcoin are very popular currency and all those people are use this currency. There fore and majority people are invest in these currency and this reason bitcoin are very strong.

you are right that bitcoin is very much popular currency and a lot of people adopting bitcoin for the future and and maximum people investing their money in bitcoin so bitcoin is very stronger currency and other crypto currency never replace the bitcoin.

i think bitcoin is the one unique crypto currency which getting popularity too much faster and bitcoin is increasing their users also too much faster and all bitcoin users know that bitcoin future will be too much bright and rise because they investing their money in high amount in bitcoin.

although there are so many other fiat currency, which have good volume and having good potential to increase their price, but still bitcoin is the number one currency of the world and will remain as number one currency of the world. because bitcoin is becoming more popular and investing their money in bitcoin,

hubinator

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Bitcoin will stay, it will be adopted for finance. There will be also other altcoins that will meet different requirements (probably not fully legal, where privacy matters).

KingdomHearts

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Quote from: Osarman on May 18, 2017, 11:00:55 AM

Quote from: Tungsten-1 on May 18, 2017, 10:01:57 AM

Quote from: tranle789 on May 18, 2017, 06:30:33 AM

Bitcoins cant be replaced by other cryptocurrencies because everyone is using the bitcoin rigtht now so i dont think other people would love to use an other one right now as you know.

Yes you are right because bitcoin are very popular currency and all those people are use this currency. There fore and majority people are invest in these currency and this reason bitcoin are very strong.

you are right that bitcoin is very much popular currency and a lot of people adopting bitcoin for the future and and maximum people investing their money in bitcoin so bitcoin is very stronger currency and other crypto currency never replace the bitcoin.

i think bitcoin is the one unique crypto currency which getting popularity too much faster and bitcoin is increasing their users also too much faster and all bitcoin users know that bitcoin future will be too much bright and rise because they investing their money in high amount in bitcoin.

deisik

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Quote from: Netnox on May 17, 2017, 11:18:25 AM

Check this:

https://coinmarketcap.com/

Ripple is getting so close. The Bitcoin market cap is stable at $29 billion, while Ripple is more than half of that amount at $14.5 billion. And most importantly, the share of BTC in the total crypto market cap has gone below 50%.

That pretty clearly proves how shitty is market cap as a metric for evaluating a coin's performance

All these numbers (including that of Bitcoin's market cap) are utterly misleading if not outright deceiving. I can't help being fascinated why so many people are taking these numbers seriously for so long. So Ripple is said to have a market cap of 14.5 billion dollars which allegedly puts its in the second place after Bitcoin, right? And how many coins had been taken (out of their total number) to calculate this so-called market cap? 1% or even less? In this manner, I can sell to myself 1 satoshi for 1 dollar, and then start claiming that Bitcoin market cap is equal to 21 million coins × 100M dollars per coin. Just in case, that would be 2,100 trillion dollars, i.e. over 2 quadrillion dollars of Bitcoin market cap

equator

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Quote from: Osarman on May 18, 2017, 11:00:55 AM

Quote from: Tungsten-1 on May 18, 2017, 10:01:57 AM

Quote from: tranle789 on May 18, 2017, 06:30:33 AM

Bitcoins cant be replaced by other cryptocurrencies because everyone is using the bitcoin rigtht now so i dont think other people would love to use an other one right now as you know.

Yes you are right because bitcoin are very popular currency and all those people are use this currency. There fore and majority people are invest in these currency and this reason bitcoin are very strong.

you are right that bitcoin is very much popular currency and a lot of people adopting bitcoin for the future and and maximum people investing their money in bitcoin so bitcoin is very stronger currency and other crypto currency never replace the bitcoin.

Not only the reasons what you are giving one main reason is that Bitcoin is not controlled by any developer or one person but it is runed by users but in other cryptocurrency they are created by the developers and they are controlling it , that is the main reason of the success of the bitcoin.

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Quote from: tranle789 on May 18, 2017, 06:30:33 AM

Bitcoins cant be replaced by other cryptocurrencies because everyone is using the bitcoin rigtht now so i dont think other people would love to use an other one right now as you know.

of-course bitcoin cannot be replaced by any other cryptocurrencies because bitcoin is such currency which a large number of people are using it and bitcoin is gaining the great popularity in the world and also the price of bitcoin is going to much high and the market cap of bitcoin is also very high, therefore the bitcoin is going stronger due to investors , so i do not think that bitcoin will be replace by another cryptocurrency.

Osarman

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Quote from: Tungsten-1 on May 18, 2017, 10:01:57 AM

Quote from: tranle789 on May 18, 2017, 06:30:33 AM

Bitcoins cant be replaced by other cryptocurrencies because everyone is using the bitcoin rigtht now so i dont think other people would love to use an other one right now as you know.

Yes you are right because bitcoin are very popular currency and all those people are use this currency. There fore and majority people are invest in these currency and this reason bitcoin are very strong.

you are right that bitcoin is very much popular currency and a lot of people adopting bitcoin for the future and and maximum people investing their money in bitcoin so bitcoin is very stronger currency and other crypto currency never replace the bitcoin.

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