Topic: Will Bitcoin be replaced by another cryptocurrency? - page 144. (Read 186407 times)
look at the current situation, making me think that bitcoin price increases that occur continuously make another coin prices to be down. and there will be no altcoin which supersedes bitcoin until the price of a coin exceeds the bitcoin prices.
As Ive observed, bitcoin cannot be replaced by another cryptocurrency. Nowadays, bitcoin has become growing daily, increasing its price and demand. It cannot be replace because many are using btc already and attracted to bitcoin.
Another thing to consider is how demand/requirements change when the majority of the public enter the market.
Considering the Innovation Adoption curve we can assume that as of today, only the pioneers and early adopters are using cryptocurrency. Once the Early and Late Majority jump on board we'll see what requirements appear..
I can only assume that transaction speed will be one of the requirements.
Considering the Innovation Adoption curve we can assume that as of today, only the pioneers and early adopters are using cryptocurrency. Once the Early and Late Majority jump on board we'll see what requirements appear..
I can only assume that transaction speed will be one of the requirements.
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?
i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.But prior to that before bitcoin will lose its competitiveness there should be a crucial and devastating event before bitcoin will suffer such event. But anyways it will not occur to bitcoin since as you notice even after huge has recovered fast unlike. Aside from that there are no more bubbles and the increase in bitcoin is a display of strength and trust of people towards it.
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?
Well, that is ridiculous belief and speculation. Sometimes, others here became exaggerated for what they're thinking about in bitcoin. Even there is truth behind that question but no one knows what will happen tomorrow. All I can say, it maybe or it maybe not.It is true, no one know about what would happen tomorrow. But i still believe bitcoin not need to change into other crypto currency. As you said it is a ridiculous speculation, I agree with your thinking because of i want to tell, bitcoin is already a crypto currency and on one other crypto has come to competitive with it. its mean bitcoin will be remain as it is, and finally bitcoin has good career and also has a good past history, So bitcoin don't need to change.
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?
Well, that is ridiculous belief and speculation. Sometimes, others here became exaggerated for what they're thinking about in bitcoin. Even there is truth behind that question but no one knows what will happen tomorrow. All I can say, it maybe or it maybe not. 
This may already have been covered, haven't read all 90 pages 
IMHO, maybe Bitcoin is not replaced, but it will most likely to be complemented when popularity picks up for real. Meaning that BTC may function as a store of wealth while other coins function better in transactions, others may be more adopted in gaming or apps etc..
Bitcoin alone as it is today cant do all this, its just too slow.. Maybe the upcoming potential hardfork may reveal a faster bitcoin.
IMHO, maybe Bitcoin is not replaced, but it will most likely to be complemented when popularity picks up for real. Meaning that BTC may function as a store of wealth while other coins function better in transactions, others may be more adopted in gaming or apps etc..
Bitcoin alone as it is today cant do all this, its just too slow.. Maybe the upcoming potential hardfork may reveal a faster bitcoin.
It is not only that (that it is too slow)
It is also too good to be used as payment for cheaper things. Gresham's law asserts that the "bad" money drives the "good" out of circulation. Obviously, Bitcoin is the good money here, though good and bad are relative terms in this context. Bitcoin is expensive and to spend it when you can spend a cheaper coin and get what you need is against human nature. Thus people are inclined to keep bitcoins and shell out cheaper coins. I don't think that faster transactions are going to change anything in this respect (provided other altcoins will be as fast as a faster Bitcoin, of course)
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?
i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.Litecoin should have replaced bitcoins a long time ago if so. Almost every altcoin out there are better than bitcoins in terms of features. The only thing that let bitcoin stay at the top is the fact that it's much more popular than most coins and it's the base line of everything. We are all here because of bitcoins. All altcoin's concept is based from bitcoin's concept. Decentralized, anonymous, fast and cheap transactions, etc. At some aspects, altcoins are better than bitcoins.
Popularity is the number one thing that makes people buy something. Like, if Starbucks' coffee or In and Out's burger or Chipotle's burrito wasn't all hyped up on the Internet, people will not be buying those stuffs. We all know that it's unhealthy and there exists much better food than those, but we keep on buying them just because it's popular. It's so popular that we start liking it even when we initially don't.
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?
i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.But prior to that before bitcoin will lose its competitiveness there should be a crucial and devastating event before bitcoin will suffer such event. But anyways it will not occur to bitcoin since as you notice even after huge has recovered fast unlike. Aside from that there are no more bubbles and the increase in bitcoin is a display of strength and trust of people towards it.
This may already have been covered, haven't read all 90 pages
IMHO, maybe Bitcoin is not replaced, but it will most likely to be complemented when popularity picks up for real. Meaning that BTC may function as a store of wealth while other coins function better in transactions, others may be more adopted in gaming or apps etc..
Bitcoin alone as it is today cant do all this, its just too slow.. Maybe the upcoming potential hardfork may reveal a faster bitcoin.
IMHO, maybe Bitcoin is not replaced, but it will most likely to be complemented when popularity picks up for real. Meaning that BTC may function as a store of wealth while other coins function better in transactions, others may be more adopted in gaming or apps etc..
Bitcoin alone as it is today cant do all this, its just too slow.. Maybe the upcoming potential hardfork may reveal a faster bitcoin.
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?
i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.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?
i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.I dont think I understand that.
Its like a circle.
But in regards to the OP's question. I dont think it could be just like that.
They are like relying on bitcoin for their own value.
Maybe something which is different could replace it.
We need another genius to be born for it to be discovered and maybe make it popular somehow.
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?
i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.I dont think I understand that.
Its like a circle.
But in regards to the OP's question. I dont think it could be just like that.
They are like relying on bitcoin for their own value.
Maybe something which is different could replace it.
We need another genius to be born for it to be discovered and maybe make it popular somehow.
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?
i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.
Highly Unlikely. Although several other digital currencies are in the competition - Ethereum being the closest one - there is still a very little chance that it will be dethroned from the top spot anytime soon. The current market cap of Ethereum is $1bn USD while that of Bitcoin is over $10bn USD. The only advantage that Ethereum holds over Bitcoin is that it's capable of performing faster transactions. Where a Bitcoin blockchain performs 3 transactions per second, Ethereum blockchain can perform up to 25. Overall, Bitcoin is there to stay on top for a long long time.
It could, im skeptical that it will though. Bitcoin has the best devs and can upgrade if it needs to. Despite everyone attacking eachother over the scaling debate, if things were so bad that bitcoin was going to get taken over, I think something would reach compromise.
Well sometime ago i havent believe it would be possible to bitcoin to loose its power, but the last days the split that might happen, will damage a lot bitcoin, and we do saw the market is looking for another options to keep and protect their money.
There are many speculations going around the bitcoin split, but it is not possible right now because bitcoin is slowly regaining where it was in the month of January. Everyone has their feeling when it comes to bitcoin split, but daily many people are buying bitcoin and holding their bitcoin.
At one point it may happen,cryptos are getting to be more and more advanced and I am sure one day there will be a crypto being able to compete with BTC,and if BTC hasn't been established as a official cryptocurrency in a lot of countries,there's a possibility for it to be replaced,yet it still be a major player in the crypto world
Hmmm,i think the word "will" would have been better as "can" for now.
the only constant thing is change. There is always space for improvement.
and if there is improvement it is accepted. who ever thought bitcoin will come to replace fiat? and now its growing fast.
although, bitcoin has come in its kind to stand as a cryptocurrency on its own.of a truth, if another cryptocurrency appears with stronger/more convincing features. bitcoin may shift.
the only constant thing is change. There is always space for improvement.
and if there is improvement it is accepted. who ever thought bitcoin will come to replace fiat? and now its growing fast.
although, bitcoin has come in its kind to stand as a cryptocurrency on its own.of a truth, if another cryptocurrency appears with stronger/more convincing features. bitcoin may shift.
Monetary rules may change, but in the short times, that can not happen
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