Will Bitcoin be replaced by another cryptocurrency? - page 153.

Rostadom

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Quote from: requester on February 22, 2017, 08:39:43 AM

probably not possible because bitcoin is the father of all alt coin and without bitcoin no other alt coin have value because sites and store don't accept alt coins they accept only bitcoin and this is possible only when we have bitcoin so bitcoin will always rule the world of cryptocurrency.

Supposed that a coin is starting to create a fuss and slowly starting to kick bitcoin out of the scene, for sure the merchants will start accepting it. Dogecoin, Litecoin, and Ethereum are accepted in gambling sites and it's just a matter of time when merchants start accepting them too. It's not that hard to convert these altcoins to bitcoins but it's the transaction and convertion fee that merchants are worried about.

Rinder

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Bitcoin is getting a lot issues recently around the confirmations i wouldnt be surprised if some investors switch to other altcoin that hasnt such delay to confirm the transactions as bitcoin is having. Without any upgrade this will keep happening, and looks like miner farms doesnt agree at all wich is the best thing to follow. Its getting boring already make and be at bitcoin with those issue not handle yet, how long can bitcoin survive if bitcoin dont upgrade into better system?

AUDREY23

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until now have not thought about it because it is very difficult for others to cryptocurency could replace cryptocurency bitcoin my knowledge there because bitcoin created as a benchmark to price cryptocurrency.

Sadlife

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I think that wouldn't happen or it would never occur no time soon. This crypto currency has survive countless hardships over the years passed and people still buy it because this investors can see the potential of this coin to grow.
Bitcoin has evolve and gained million of users not only in the surface web but this digital currency was firstly used it deepweb, darknets even though its price value was not that high that time.

signature200

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Quote from: requester on February 22, 2017, 08:39:43 AM

probably not possible because bitcoin is the father of all alt coin and without bitcoin no other alt coin have value because sites and store don't accept alt coins they accept only bitcoin and this is possible only when we have bitcoin so bitcoin will always rule the world of cryptocurrency.

I agree with you completely. If bitcoin will disappear he will disappear and other cryptocurrencies. Though of course this place for a long time will not be empty. I think that even if bitcoin will disappear in the time it will be another cryptocurrency. It is possible that the Federal reserve will try to run in a turn, something like that.

MWesterweele

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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?

I think its not, bitcoin has a very good value in the market, i think it takes too long before it will be replace by another coin. devs should keep it and it will not easily go down. as days passes by bitcoin keeps its position in the market, and it increases its value too. i think btc has a its power to keep in the list and to prevent loosing its spot in the market.

requester

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probably not possible because bitcoin is the father of all alt coin and without bitcoin no other alt coin have value because sites and store don't accept alt coins they accept only bitcoin and this is possible only when we have bitcoin so bitcoin will always rule the world of cryptocurrency.

SpousedHF

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I believe many of coins have tried to do this they just get pumped in a sense none of them actually fully make it. It would be nice to see a change but I don't believe anything of this sort will change. I don't know but I'm for sure its quite impossible considering it has been tried a few times.

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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 a possibility that the Bitcoin will be replaced by another crypto currency but it won't be easy for another crypto currency.
Because the Bitcoin is like the mother of all crypto currencies that are active. The other currencies have long way to go if the want to replace Bitcoin.

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Quote from: Wapinter on February 22, 2017, 07:12:03 AM

There still is a large group of people who dont know about bitcoin or cryptocurruncy and there is a group of people for whom crypto means bitcoin and they didn't hear about Altcoins.
Third there is even a smaller group of people who know about bitcoin and Altcoins.
With only such a small group of people aware about Altcoin, how is it possible it replace bitcoin?

Absolutely true
I think it's only a matter of time. People increasingly read about bitcoin and a fraction will ultimately buy some.
Once they are into bitcoin, they will consider altcoins, read about it and ultimately invest.

Wapinter

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There still is a large group of people who dont know about bitcoin or cryptocurruncy and there is a group of people for whom crypto means bitcoin and they didn't hear about Altcoins.
Third there is even a smaller group of people who know about bitcoin and Altcoins.
With only such a small group of people aware about Altcoin, how is it possible it replace bitcoin?

wisqo

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Highly unlikely. It is pretty much the gold standard at the moment, and I have yet to really see anything out there that can take the crown from bitcoin.

kingsart

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I don't think it will be replaced by another cryptocurrency, it will more likely become like gold, which will not be used in day to day purposes, but in storing the value or investing.

Supebox

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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?

It does make sense because there is a possibility that it will be replaced.
But i don't think that the Bitcoin will be obsolete or at least not soon.

Senor.Bla

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Quote from: geopolisch on February 22, 2017, 02:26:52 AM

Quote from: kumax on February 20, 2017, 04:54:52 AM

Quote from: ASHLIUSZ on February 18, 2017, 04:46:39 AM

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

Yeah, I also wouldn't say that bitcoin will be completely replaced soon, but its purpose can be changed in some ways. I can see the trend already, that bitcoin starts to be used more as an investment than as a currency and this role (the currency one), can be taken by some another altcoin, because there are some which are more secure, more anonymous, with lower fees and quicker transaction time. Cool

Well you are right, in fact the thing that the people don’t know about bitcoin is that it is limited some at some point there will be no more bitcoin to cover the need of the market and that maybe the end of bitcoin, and I think, if that happens some kind of new technology cryptocurrency is going to take over and become the new bitcoin.

The total amount of Bitcoin is fixed, so the supply will become more scarce and dry up, but it will take another good 100 years before that. Never the less the supply will shrink in the next 10-20 years significantly. Bitcoin will still be able to cover the needs of the market as it is very good divisible. This is also the reason that most see the price reaching higher and higher.

geopolisch

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Quote from: kumax on February 20, 2017, 04:54:52 AM

Quote from: ASHLIUSZ on February 18, 2017, 04:46:39 AM

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

Yeah, I also wouldn't say that bitcoin will be completely replaced soon, but its purpose can be changed in some ways. I can see the trend already, that bitcoin starts to be used more as an investment than as a currency and this role (the currency one), can be taken by some another altcoin, because there are some which are more secure, more anonymous, with lower fees and quicker transaction time. Cool

Well you are right, in fact the thing that the people don’t know about bitcoin is that it is limited some at some point there will be no more bitcoin to cover the need of the market and that maybe the end of bitcoin, and I think, if that happens some kind of new technology cryptocurrency is going to take over and become the new bitcoin.

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Quote from: nelson4lov on February 20, 2017, 07:48:32 AM

Quote from: positivezero on February 20, 2017, 07:40:27 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?

Maybe if no one would use bitcoin or no one will trust bitcoin, but today? no doubt, bitcoin would never be replaced by any cryptocurrency since bitcoin is very useful, progressive and used by many people here in many countries. It would never happened that bitcoin would be obsolete since bitcoin gives us may benefits and most especially in doing some transactions.

So your point is that because Bitcoin has some benefits like making transactions means It wouldn't get replaced? really?

As far as I know, There are a lot of coins that does same but at the same time, These Altcoins serves different purposes not just making transaction. Either way, I do think that bitcoin wouldn't be replaced by another Cryptocurrency anytime soon.

USD became center of world currencies, and continue to be printed in accordance with the law of supply and demand in foreign exchange market. Not so with bitcoin mining will someday run out, it means bitcoin can't regenerate and will be dominated by powerful groups. To take advantage of it, would appear loopholes that could be exploited by altcoin to get to the top.

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Quote from: positivezero on February 20, 2017, 07:40:27 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?

Maybe if no one would use bitcoin or no one will trust bitcoin, but today? no doubt, bitcoin would never be replaced by any cryptocurrency since bitcoin is very useful, progressive and used by many people here in many countries. It would never happened that bitcoin would be obsolete since bitcoin gives us may benefits and most especially in doing some transactions.

So your point is that because Bitcoin has some benefits like making transactions means It wouldn't get replaced? really?

As far as I know, There are a lot of coins that does same but at the same time, These Altcoins serves different purposes not just making transaction. Either way, I do think that bitcoin wouldn't be replaced by another Cryptocurrency anytime soon.

positivezero

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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 if no one would use bitcoin or no one will trust bitcoin, but today? no doubt, bitcoin would never be replaced by any cryptocurrency since bitcoin is very useful, progressive and used by many people here in many countries. It would never happened that bitcoin would be obsolete since bitcoin gives us may benefits and most especially in doing some transactions.

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Quote from: ASHLIUSZ on February 18, 2017, 04:46:39 AM

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

Yeah, I also wouldn't say that bitcoin will be completely replaced soon, but its purpose can be changed in some ways. I can see the trend already, that bitcoin starts to be used more as an investment than as a currency and this role (the currency one), can be taken by some another altcoin, because there are some which are more secure, more anonymous, with lower fees and quicker transaction time. Cool

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