Will Bitcoin be replaced by another cryptocurrency? - page 165.

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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?

Let such currency be X. Now X will be invented at least 9 years after Bitcoin.
To replace Bitcoin, X should be better than Bitcoin.
Suppose public assume X to be a new potential and invested alot in it. X in turn offer various new features like instant confirmation of transaction, more secure, etc.
But still X will not able to obsolete Bitcoin, it would just be a competitor to Bitcoin.
Bitcoin already grabbed huge market due to first mover advantage. It has become standard for other cryptocurrencies.

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Nothing is impossible. We can expect another currency is coming to beat Bitcoin. Beause we are living in a advanced world. new new advanced technologies coming in this world. But its very hard to beat Bitcoin. Because it already showed its power in the world.

lOvE mE forEvEr

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May occur, the value of the currencies of many countries always down if exchanged for strong currencies such as the dollar, surely the existence of the bitcoin will open up opportunities for countries adopting and replacing their currencies. This issue of the publication for accept by citizen.

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Quote from: wahb on January 18, 2017, 02:20:05 AM

Quote from: Devboy on January 17, 2017, 10:57:11 PM

Quote from: jaymarkcapoy11 on January 17, 2017, 10:47:39 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?

There are many crypto-currency not only bitcoin but in the question that if it is replace I probably say not cause bitcoin is an old crypto-currency and it also use now by many people and bitcoin is used in payment like freelancing and other investment site and thats the reason why I say not.

Yeah!In beggining bitcoin was dominated other crypto-currencies over more than 8 years.According to be replaced by other currency could be a dream only,there nothing any strong opponent who can come over bitcoin and defeat in present situatio while bitcoin continuously growing.

many people are spending wrong news about bitcoin. according to some alt coins can lead bitcoin, i think actually are the support of such coins and want to promote it, but i think it is not such an easy job. there is not competitor of bitcoin in current time. bitcoin is the best and hope that it will continue holding the status of 1st crypto currency of the world.

You have a point and im thinking the same thing too on which those people who was just promoting their own coin and keeping on saying wrong information or fuds that a particular coin could able to surpass bitcoin but those are just false claims and they still continue to fail in the long run on trying their best to compete with bitcoin.

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Quote from: Devboy on January 17, 2017, 10:57:11 PM

Quote from: jaymarkcapoy11 on January 17, 2017, 10:47:39 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?

There are many crypto-currency not only bitcoin but in the question that if it is replace I probably say not cause bitcoin is an old crypto-currency and it also use now by many people and bitcoin is used in payment like freelancing and other investment site and thats the reason why I say not.

Yeah!In beggining bitcoin was dominated other crypto-currencies over more than 8 years.According to be replaced by other currency could be a dream only,there nothing any strong opponent who can come over bitcoin and defeat in present situatio while bitcoin continuously growing.

many people are spending wrong news about bitcoin. according to some alt coins can lead bitcoin, i think actually are the support of such coins and want to promote it, but i think it is not such an easy job. there is not competitor of bitcoin in current time. bitcoin is the best and hope that it will continue holding the status of 1st crypto currency of the world.

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Quote from: jaymarkcapoy11 on January 17, 2017, 10:47:39 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?

There are many crypto-currency not only bitcoin but in the question that if it is replace I probably say not cause bitcoin is an old crypto-currency and it also use now by many people and bitcoin is used in payment like freelancing and other investment site and thats the reason why I say not.

Yeah!In beggining bitcoin was dominated other crypto-currencies over more than 8 years.According to be replaced by other currency could be a dream only,there nothing any strong opponent who can come over bitcoin and defeat in present situatio while bitcoin continuously growing.

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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 are many crypto-currency not only bitcoin but in the question that if it is replace I probably say not cause bitcoin is an old crypto-currency and it also use now by many people and bitcoin is used in payment like freelancing and other investment site and thats the reason why I say not.

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Quote from: burner2014 on January 17, 2017, 09:21:23 AM

I've been more 2 years here in bitcoin industry and never in my entire life that I thought of the chance that bitcoin will replace by other cryptocurrency.
Bitcoin has a great impact in our life and economy no one would just come and replace the king. But, I believe there would really a rivalry between crytocurrency in the coming months.

i dont think so, because some people make something new everyday to replaced the old ones with new method and etc.
Bitcoin will be replaced, i dont know when but it will be. Nothing is gonna be forever man.

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Quote from: charmingfreddie on January 17, 2017, 03:11:55 PM

When quantum computers come out new blockchain tech will follow including bitcoins replacement.

At least the current wallet already provides the quantum resistance. I'd like to call the quantum computer it seems like a delusional.

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Quote from: cryp24x on January 17, 2017, 05:10:56 PM

536696#msg17536696 date=1484689843]

Quote from: charmingfreddie on January 17, 2017, 03:11:55 PM

When quantum computers come out new blockchain tech will follow including bitcoins replacement.

Technology is upgrading, so is Bitcoin in my opinion. Bitcoin developers are getting ready for this said doom of Bitcoin trying to make bitcoin resistant to quantum computers. but of course along the way there is always a competition on who is the number one cryptocurrency, and I also believe that when bitcoin fail, there will be a new currency that wil take its place.

I hope there will no replacement in the future , no bitcoin fail or something
Bitcoin is too great to fail , even i know we cannot avoid the fact there is nothing last forever
Just hoping at least a digital money like bitcoin will keep alive for long time enough
Is is only the matter of time actually for common people accept this new technology go into digital age.

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Quote from: Arvydas77 on January 17, 2017, 09:28:22 AM

Quote from: burner2014 on January 17, 2017, 09:21:23 AM

I've been more 2 years here in bitcoin industry and never in my entire life that I thought of the chance that bitcoin will replace by other cryptocurrency.
Bitcoin has a great impact in our life and economy no one would just come and replace the king. But, I believe there would really a rivalry between crytocurrency in the coming months.

Why not? There are many reasons that Bitcoin could be replaced by another cryptocurrency in daily usage. But it is just a two sides of a coin. Bitcoin will remain as a store of value and because of that people will continue to invest in Bitcoin. But for daily use other cryptocurrencies are more suitable. In this case analogy with gold is very appropriate. Who uses gold today for daily transactions? People are using fiat currencies (in cash or in e-currency form). But gold remained as store of value. The same could happen with BTC in the future. It will remain prestigious as a world first cryptocurrency but someone will tkae the lead in daily usage.

This is true... I mean it's not like someone personally will go "replace the king" by declaring that everyone must use 'x-coin' from here on out. No...

People control what is in demand by the use and function of a coin. Right now, what Arvydas77 is saying is pretty much right; that Bitcoin's main function right now is a "stable" investment hedge against fiat that functions like gold, while also providing a sort of gold standard across all cryptos. This gives altcoins the value in USD you see today and as of right now it's a pretty good system. But this in no way makes Bitcoin "the king" because it's technologically superior by any means.

You need to continuously improve software, just as you would for you computers... the same goes for Bitcoin. Bitcoin is essentially that which desperately needs to be updated, but everyone is keep on hitting the "Remind Me Later" button while knowing that if they don't update it will slow things down.

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536696#msg17536696 date=1484689843]

Quote from: charmingfreddie on January 17, 2017, 03:11:55 PM

When quantum computers come out new blockchain tech will follow including bitcoins replacement.

Technology is upgrading, so is Bitcoin in my opinion. Bitcoin developers are getting ready for this said doom of Bitcoin trying to make bitcoin resistant to quantum computers. but of course along the way there is always a competition on who is the number one cryptocurrency, and I also believe that when bitcoin fail, there will be a new currency that wil take its place.

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Quote from: charmingfreddie on January 17, 2017, 03:11:55 PM

When quantum computers come out new blockchain tech will follow including bitcoins replacement.

That alone would not be enough for Bitcoin to be replaced by another cryptocurrency, because Bitcoin could receive a quantum cryptography in its code, to protect the network against possible attacks.
There are already solutions available for this, and I think the Litecoin developers are considering implementing this kind of protection.

From the last time I saw them discussing this: https://www.reddit.com/r/litecoin/comments/53xrnh/do_we_need_to_make_litecoin_quantum_resistant/

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Quote from: Vikingr on January 17, 2017, 03:21:11 PM

Quote from: nelson4lov on January 17, 2017, 01:46:14 PM

Quote from: GMPoison on January 17, 2017, 11:15:27 AM

Quote from: numismatist on January 17, 2017, 11:02:02 AM

Quote from: Daybreaker on January 17, 2017, 10:44:34 AM

I'll stay in bitcoin because its impossible that bitcoin can be replace by another altcoin or any crypto currency bitcoin is unique almost the other there are just clone of bitcoin.. for safety stay in bitcoin

Just turn this around! Its impossible that bitcoin can replace FIAT, which somehow still seems to be the silent dream of many participants.

Says who? It used to be thought impossible to put a man on the moon.

Nothing is ever impossible. Bitcoin still leads and Thus, It is the most accepted Cryptocurrency. Bitcoin may be replaced in the future but I'm not sure It will be anytime soon (Maybe in a decade or two )

even in decades or two it is impossible that any altcoin will come and will replace bitcoin. Bitcoin is a much powerful crypto currency and it has more power to rule over the online digital financial system.

Bitcoin is offering people exactly what they want. Altcoins with their flashy gimmick features are only there to attract gamblers buying their coins where the majority ends up holding the bag. I don't consider any altcoin at this point to offer anything that people in Bitcoin are missing beside faster confirmation times. Another thing is that many people (aside from noobs of course) don't take altcoins serious at all. They just serve as a speculative investment solution.

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Quote from: GMPoison on January 17, 2017, 11:15:27 AM

Quote from: numismatist on January 17, 2017, 11:02:02 AM

Quote from: Daybreaker on January 17, 2017, 10:44:34 AM

I'll stay in bitcoin because its impossible that bitcoin can be replace by another altcoin or any crypto currency bitcoin is unique almost the other there are just clone of bitcoin.. for safety stay in bitcoin

Just turn this around! Its impossible that bitcoin can replace FIAT, which somehow still seems to be the silent dream of many participants.

Says who? It used to be thought impossible to put a man on the moon.

The difference between the two is that, government supports the idea of man in the moon, while with bitcoin, we have not seen this action from the government, so basically at this point the idea of bitcoin replacing certain currency is impossible. And even I am a Bitcoin enthusiast, I will never replace our currency with bitcoin, the main reason is, i do not want my country's economy be controlled by whales of Bitcoin.

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Quote from: nelson4lov on January 17, 2017, 01:46:14 PM

Quote from: GMPoison on January 17, 2017, 11:15:27 AM

Quote from: numismatist on January 17, 2017, 11:02:02 AM

Quote from: Daybreaker on January 17, 2017, 10:44:34 AM

I'll stay in bitcoin because its impossible that bitcoin can be replace by another altcoin or any crypto currency bitcoin is unique almost the other there are just clone of bitcoin.. for safety stay in bitcoin

Just turn this around! Its impossible that bitcoin can replace FIAT, which somehow still seems to be the silent dream of many participants.

Says who? It used to be thought impossible to put a man on the moon.

Nothing is ever impossible. Bitcoin still leads and Thus, It is the most accepted Cryptocurrency. Bitcoin may be replaced in the future but I'm not sure It will be anytime soon (Maybe in a decade or two )

even in decades or two it is impossible that any altcoin will come and will replace bitcoin. Bitcoin is a much powerful crypto currency and it has more power to rule over the online digital financial system.

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When quantum computers come out new blockchain tech will follow including bitcoins replacement.

ChrisPop

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From my point of view there is a very very low probability that an "altcoin" could replace the "father" of all crypto-currencies,the all mighty Bitcoin. Cheesy

Bitcoin is on a continuous uptrend and daily more and more people and entities start accepting it. So bitcoin gains people's trust while a new coin would have to "travel" all the bumpy road that bitcoin passed so far.

BitHodler

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Quote from: nelson4lov on January 17, 2017, 01:46:14 PM

Quote from: GMPoison on January 17, 2017, 11:15:27 AM

Quote from: numismatist on January 17, 2017, 11:02:02 AM

Quote from: Daybreaker on January 17, 2017, 10:44:34 AM

I'll stay in bitcoin because its impossible that bitcoin can be replace by another altcoin or any crypto currency bitcoin is unique almost the other there are just clone of bitcoin.. for safety stay in bitcoin

Just turn this around! Its impossible that bitcoin can replace FIAT, which somehow still seems to be the silent dream of many participants.

Says who? It used to be thought impossible to put a man on the moon.

Nothing is ever impossible. Bitcoin still leads and Thus, It is the most accepted Cryptocurrency. Bitcoin may be replaced in the future but I'm not sure It will be anytime soon (Maybe in a decade or two )

I don't see any ground for another crypto currency to take over Bitcoin's leading position.

If you consider that the block size will increase throughout the years to match demand where the activation of segwit is going to be a first step, then we're already moving forwards.

Another thing is that we also have lightning network that at some point will get implemented to make Bitcoin yet again a bit more future proof.

That's the beauty of an open source project that Bitcoin is. Improvements can be implemented in order to update Bitcoin where needed.

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Quote from: GMPoison on January 17, 2017, 11:15:27 AM

Quote from: numismatist on January 17, 2017, 11:02:02 AM

Quote from: Daybreaker on January 17, 2017, 10:44:34 AM

I'll stay in bitcoin because its impossible that bitcoin can be replace by another altcoin or any crypto currency bitcoin is unique almost the other there are just clone of bitcoin.. for safety stay in bitcoin

Just turn this around! Its impossible that bitcoin can replace FIAT, which somehow still seems to be the silent dream of many participants.

Says who? It used to be thought impossible to put a man on the moon.

Nothing is ever impossible. Bitcoin still leads and Thus, It is the most accepted Cryptocurrency. Bitcoin may be replaced in the future but I'm not sure It will be anytime soon (Maybe in a decade or two )

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