Will Bitcoin be replaced by another cryptocurrency? - page 140.

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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?

There is always some changes but it is very unrealistic if we talk about future. Bitcoin is a good coin and there is no coin that has a great features as bitcoin, however if another coin do really overcome bitcoin then the users will be cut in half because people thinks the new one is better but unsure of it cause lot of bitcoin users will stick to what they're used to, so it means that the coin doesn't really overcome bitcoin but it is just been a substitute instead.

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Quote from: mayax on April 12, 2017, 06:14:23 AM

the past is telling us what it will happen in the future.

there few very good (at that moment) e-currencies like e-gold or liberty reserve. they are down now...

bitcoin is just another one. it's trendy and nothing more. if you are honest with yourself, you will see that it has nothing better than any other e-currency but contrary. it has many bad things like a huge time for confirmation. there will not be a mass adoption for Bitcoin because it's fluctuating without any sense. the big exchangers and the miners are manipulating the market as they want.
the shit with demand and offer is just for kids or brainwashed people

BTC is an opportunity to make quick money and then go out.

tl;dr: Bitcoin is a speculative asset therefore it shouldn't reach its potentials.

Take a look at other markets. Apple is trendy and nothing more. It's not offering something better than other smartphones. Smartphones have almost the same specifications but Apple costs much more.

Mass adoption will occur at the most trendy cryptocurrency first. And if it's still bitcoin, then bitcoin will achieve mass adoption. There's no point saying that bitcoin will go down because people that have enough bitcoins (probably the ones that bought before most people did) are manipulating the bitcoin price. The whole idea that bitcoin community is getting larger because the price is increasing cannot be confirmed but we also cannot confirm that the whole thing is nothing but a mere game to the whales.

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Quote from: Creepings on April 12, 2017, 06:28:37 AM

I don't think that bitcoin will ever be replaced by another crypto currency. Bitcoin is the original and the true cryptocurrency, without bitcoin there will be no altcoins. Altcoins will stay alts, I mean alternate crypto for bitcoin to have a profit, but they will never leave bitcoin or replae it. They are just using altcoins, so that they can have a profit from it, but when the time comes, thwy will be converting it to bitcoins.

It's not a first come first serve thing. Almost everything becomes obsolete over time. But since bitcoin can adapt to changes, bitcoin becoming obsolete is not going to happen in the foreseeable future. One thing that might kill bitcoin is when a new coin with real-time, ping-time confirmation was launched. The crowdsale of it will surely reach millions of dollars. People will not hesitate to become part of it since it's something that everyone's been waiting for.

If this new coin don't reveal how they do things and only give a rough draft or rather an explanation without specifics, then bitcoin surely will have a hard time to catch up. It wouldn't take that much time for people to switch from using bitcoins to using that new coin. So, if bitcoin didn't get all the specifics and released a patched version of bitcoin with ping-time transactions right on time, then bitcoin will be replaced by that coin. Otherwise, there will be a great battle between the two and the first one to launch another killer feature will surely win.

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Quote from: Creepings on April 12, 2017, 06:28:37 AM

I don't think that bitcoin will ever be replaced by another crypto currency. Bitcoin is the original and the true cryptocurrency, without bitcoin there will be no altcoins. Altcoins will stay alts, I mean alternate crypto for bitcoin to have a profit, but they will never leave bitcoin or replae it. They are just using altcoins, so that they can have a profit from it, but when the time comes, thwy will be converting it to bitcoins.

Being the original does not justify that it will prevail and nothing will surpass it. Take note that an old one can be replaced any time by a new one, especially when the new one is better that the old one. So being the original is worthless if it will not improve itself to provide better service.

Quote from: mayax on April 12, 2017, 06:14:23 AM

the past is telling us what it will happen in the future.

there few very good (at that moment) e-currencies like e-gold or liberty reserve. they are down now...

bitcoin is just another one. it's trendy and nothing more. if you are honest with yourself, you will see that it has nothing better than any other e-currency but contrary. it has many bad things like a huge time for confirmation. there will not be a mass adoption for Bitcoin because it's fluctuating without any sense. the big exchangers and the miners are manipulating the market as they want.
the shit with demand and offer is just for kids or brainwashed people

BTC is an opportunity to make quick money and then go out.

This justify that being the original has nothing to do with how long it will prevail. The future is very unpredictable.

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Quote from: emezh10 on April 11, 2017, 10:36:08 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?

Maybe but that new coin will surpass bitcoin characteristics like the major problem of bitcoin now is the delay of transactions so if that coin have that fast transactions and every features of bitcoin that is upgraded maybe. But that need a lot of funds.

No, no, no, I don't think that it is enough to replace bitcoin by a new Altcoin because of its transaction speed, we are talking about bitcoin, and not just ordinary coin. Bitcoin's superiority can not be replaced just like that, if we just want to increase the speed of our bitcoin transaction, then we need to pay higher transaction fees, it doesn't matter, but it does if we are not making enough bitcoin, I mean, if the transaction fee is higher compare to our earning in a day, then it is a problem indeed.

So, I am sure that bitcoin will still dominate the cryptocurrency for a lifetime, if bitcoin won't face a really huge problem in the near future that could eliminate it.

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I don't think that bitcoin will ever be replaced by another crypto currency. Bitcoin is the original and the true cryptocurrency, without bitcoin there will be no altcoins. Altcoins will stay alts, I mean alternate crypto for bitcoin to have a profit, but they will never leave bitcoin or replae it. They are just using altcoins, so that they can have a profit from it, but when the time comes, thwy will be converting it to bitcoins.

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the past is telling us what it will happen in the future.

there few very good (at that moment) e-currencies like e-gold or liberty reserve. they are down now...

bitcoin is just another one. it's trendy and nothing more. if you are honest with yourself, you will see that it has nothing better than any other e-currency but contrary. it has many bad things like a huge time for confirmation. there will not be a mass adoption for Bitcoin because it's fluctuating without any sense. the big exchangers and the miners are manipulating the market as they want.
the shit with demand and offer is just for kids or brainwashed people

BTC is an opportunity to make quick money and then go out.

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Quote from: (altair) on April 12, 2017, 05:47:45 AM

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?

Yes of course it makes sense if you and we will believe through it.Yeah bitcoins is the most popular and most valuable cryptocurrency on e-market today but technology is developing,more good coin will come to compete with bitcoin with better features and faster network i think due to development through years

I agree , the cryptocurrency now which is dominated by bitcoin , I believe that other coins which will be invented in the future will surely compete with bitcoin . Like now some of the people is using other coin in their transaction because of the long transaction period of bitcoin.

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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?

Yes of course it makes sense if you and we will believe through it.Yeah bitcoins is the most popular and most valuable cryptocurrency on e-market today but technology is developing,more good coin will come to compete with bitcoin with better features and faster network i think due to development through years

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Quote from: DoublerHunter on April 12, 2017, 02:28:34 AM

Quote from: gabbie2010 on April 12, 2017, 01:39:29 AM

I don't think another cryptocurrency can replace bitcoin in years a head even bitcoin itself is gaining global recognition gradually how much more a new cryptocurrency coming to replace bitcoin absolutely it is not possible, there are some third world countries that had little or no information about bitcoins.

You are expecting too much about bitcoin and you think that bitcoin will stay here in the world forever. Bitcoin is limited and there is a lot of coins out there that has a potential for bitcoin to be replace and we should accept that. In fact, the reason why the altcoins are not overtaking bitcoin is because bitcoin is still good and profitable so they are not leaving bitcoin but once the bitcoin become not profitable or let say worthless then you will see how bitcoin will be replaced by another coin.

But there is no scope that bitcoin will become worthless in future as bitcoin is growing and once we will see mass adoption then it will take the price of bitcoin even higher and I don't think that any altcoin has that potential to take over bitcoin as altcoins are comparatively too small in compare to bitcoins.

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Quote from: gabbie2010 on April 12, 2017, 01:39:29 AM

I don't think another cryptocurrency can replace bitcoin in years a head even bitcoin itself is gaining global recognition gradually how much more a new cryptocurrency coming to replace bitcoin absolutely it is not possible, there are some third world countries that had little or no information about bitcoins.

You are expecting too much about bitcoin and you think that bitcoin will stay here in the world forever. Bitcoin is limited and there is a lot of coins out there that has a potential for bitcoin to be replace and we should accept that. In fact, the reason why the altcoins are not overtaking bitcoin is because bitcoin is still good and profitable so they are not leaving bitcoin but once the bitcoin become not profitable or let say worthless then you will see how bitcoin will be replaced by another coin.

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I don't think another cryptocurrency can replace bitcoin in years a head even bitcoin itself is gaining global recognition gradually how much more a new cryptocurrency coming to replace bitcoin absolutely it is not possible, there are some third world countries that had little or no information about bitcoins.

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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?

Maybe but that new coin will surpass bitcoin characteristics like the major problem of bitcoin now is the delay of transactions so if that coin have that fast transactions and every features of bitcoin that is upgraded maybe. But that need a lot of funds.

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Quote from: whizter on April 11, 2017, 02:35:58 PM

Quote from: tokenmarket on April 10, 2017, 05:49:50 AM

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?

It's possible. but bitcoin has gained much more popularity and it has been adopted for mass use.

and still the popularity of bitcoin is continously increasing, as we can see that the number of bitcoin users are increasing more and more, i think very soon all the people of the world will be using bitcoin. and very soon bitcoin will become the world number one currency.

That's why we need to trust the entire system of crypto currency because it is not only bitcoin that is growing, some altcoins are also making a good journey. However, I do not think bitcoin will be replace since it is still the most popular with the biggest marketcap, people know more about bitcoin with the presence of altcoins because bitcoin is the origin.

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Quote from: tokenmarket on April 10, 2017, 05:49:50 AM

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?

It's possible. but bitcoin has gained much more popularity and it has been adopted for mass use.

and still the popularity of bitcoin is continously increasing, as we can see that the number of bitcoin users are increasing more and more, i think very soon all the people of the world will be using bitcoin. and very soon bitcoin will become the world number one currency.

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Quote from: salamyman on April 11, 2017, 01:29:37 PM

so what if it will? one thing or another - something will always be.

True, can't stop progress. If Bitcoin hopes to not be replaced it will eventually have to transform to compete. That's going to be difficult as we have seen, although I guess the idea is that the transformations will happen in the layers riding on top of the btc blockchain. The problem will be that it is unlikely that bitcoins algo is the optimum one (since it was the first) and that will only get more impossible to change. Eventually projects that incorporate other systems may have significant efficiency gains. It would seem that if you want to keep your money in crypto you may be required to keep an eye on emerging projects that could overtake any asset you are using to store value. I don't think network effect will be as big a barrier as people think because these are tradeable assets, and many are easily swappable.

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so what if it will? one thing or another - something will always be.

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Bitcoin its a strong currencie and has a huge investment inside it, i doubt any big investor would allow to let it loose the place it had conquer since the begining, altcoins were created based into bitcoins, and some of them might look even better, but the big money is at bitcoin and all crypto are traded against btc and not the reverse.

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Quote from: MingLee on June 07, 2016, 06:19:54 PM

Bitcoin itself won't be taken over/replaced by a different cryptocurrency unless there is some major shift with the cryptosphere or a lot of the fiat financial systems start to move into cryptos and everyone pushes for a new one.

Bitcoin can change and be modified, but there's a very small chance that Bitcoin will be replaced in the foreseeable future.

Yes I agree bitcoin future is hitting its heights peak for now. We can see the drastic change of value and price of bitcoin. So in the near future more opportunities will come and develop for the bitcoin transaction to upgrade. And if we think it will be replaced by other crypto currency for me it is very evident the it is impossible. Because the community and support of users of bitcoin is also increasing as its function develop. So for me the best conclusion is on upgrading bitcoin for the better rather than replacing it.

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Quote from: Distinctin on April 11, 2017, 08:15:32 AM

Quote from: johnnyyash on April 11, 2017, 07:54:16 AM

I don't think so ...because Bitcoin is gaining popularity and widely used and recognised.

We do not control the future but we have to believe that more people will support bitcoin than the upcoming altcoins now.
The maket of altcoins are getting better also because they have a developer that are active in making improvements, while bitcoin is not.

We just have to hope that no altcoin will surpass the capability of bitcoin or bitcoin should evolve and improve so that even if an altcoin gained the same level of capability of bitcoin, it will not take the place of bitcoin that easily. Constant evolution and improvement for bitcoin is crucial so that bitcoin will stay number 1.

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