Topic: Will Bitcoin be replaced by another cryptocurrency? - page 169. (Read 186407 times)
I think that the only way bitcoin will be replaced by another crypto is if first it can prove itself. Crypto to most of the world is already a crazy idea, so I think BTC will be the one that the people put their faith in as it's already the "standard".
There have been a lot of other alt currencies, but don't seem to have what Bitcoin does. I think down the road potentially, but as of now the focus seems to be on how to make Bitcoin better, safer and more accessible. We're pretty bullish on it.
They can't be bitcoin if bitcoin will be died and it will never replace by other cryptocurrencies because i think that bitcoin is the father of all alternative coins if theres no bitcoin it will be worthless for those altcoins. Bitcoin is good and very expensive to be change 
This discussion has nothing to do about being the father of all cryptocurrency, but the usage and effectiveness of Bitcoin with regards to economic and technical use.
I think at this time there is no other currency yet that surpasses bitcoin effectiveness in economic scale. Thought I believe in terms of technology, there is far better currency that bitcoin but popularity and economic wise there is none that will make bitcoin obsolete at this time. The possibility is still there but when is still unknown.
I don't think Bitcoin will be replaced but other Cryptos like Ether LTC and Monero will take off.
There have been a lot of other alt currencies, but don't seem to have what Bitcoin does. I think down the road potentially, but as of now the focus seems to be on how to make Bitcoin better, safer and more accessible. We're pretty bullish on it.
They can't be bitcoin if bitcoin will be died and it will never replace by other cryptocurrencies because i think that bitcoin is the father of all alternative coins if theres no bitcoin it will be worthless for those altcoins. Bitcoin is good and very expensive to be change 
There have been a lot of other alt currencies, but don't seem to have what Bitcoin does. I think down the road potentially, but as of now the focus seems to be on how to make Bitcoin better, safer and more accessible. We're pretty bullish on it.
They can't be bitcoin if bitcoin will be died and it will never replace by other cryptocurrencies because i think that bitcoin is the father of all alternative coins if theres no bitcoin it will be worthless for those altcoins. Bitcoin is good and very expensive to be change There have been a lot of other alt currencies, but don't seem to have what Bitcoin does. I think down the road potentially, but as of now the focus seems to be on how to make Bitcoin better, safer and more accessible. We're pretty bullish on it.
Most altcoins will be worthless in the next few years.
There have been a lot of other alt currencies, but don't seem to have what Bitcoin does. I think down the road potentially, but as of now the focus seems to be on how to make Bitcoin better, safer and more accessible. We're pretty bullish on it.
naaaaaa . bitcoin cant replace by any other cryptocurrency . if ever they can replace bitcoin , its ok bitcoin has done to it .
Maybe Yes, and maybe No too, because we cannot predict on how long the bitcoin will rise and low and we do not know if somebody will do another coin and hit the high price as bitcoin does but then I guess it would be hard to beat bitcoin now because it is so in good condition and being known world wide.
It's like the chances of survival has gone even lower for the altcoins to be able to take over the king (bitcoin).
Nowadays, my answer is a big NO. It will not be replaced by any cryptocurrency as of the moment.
Though it is either a good or a bad news because as an ordinary bitcoin user, the rise was beneficial for me. I don't know for the side of the altcoin owners.
If the price of bitcoin is to go down i am sure all the coins will fail without any doubt because the entire crypto currency market is modeled around bitcoin and its success and if one bubble break the entire bubble bursts. Nowadays, my answer is a big NO. It will not be replaced by any cryptocurrency as of the moment.
Though it is either a good or a bad news because as an ordinary bitcoin user, the rise was beneficial for me. I don't know for the side of the altcoin owners.
It's like the chances of survival has gone even lower for the altcoins to be able to take over the king (bitcoin).
Nowadays, my answer is a big NO. It will not be replaced by any cryptocurrency as of the moment.
Though it is either a good or a bad news because as an ordinary bitcoin user, the rise was beneficial for me. I don't know for the side of the altcoin owners.
If the price of bitcoin is to go down i am sure all the coins will fail without any doubt because the entire crypto currency market is modeled around bitcoin and its success and if one bubble break the entire bubble bursts. Nowadays, my answer is a big NO. It will not be replaced by any cryptocurrency as of the moment.
Though it is either a good or a bad news because as an ordinary bitcoin user, the rise was beneficial for me. I don't know for the side of the altcoin owners.
It's like the chances of survival has gone even lower for the altcoins to be able to take over the king (bitcoin).
Nowadays, my answer is a big NO. It will not be replaced by any cryptocurrency as of the moment.
Though it is either a good or a bad news because as an ordinary bitcoin user, the rise was beneficial for me. I don't know for the side of the altcoin owners.
Nowadays, my answer is a big NO. It will not be replaced by any cryptocurrency as of the moment.
Though it is either a good or a bad news because as an ordinary bitcoin user, the rise was beneficial for me. I don't know for the side of the altcoin owners.
That is my greatest fear when the judgment of the government will not be for the good of overall economy of bitcoin. We hope, they will understand us and they can find a way somehow to regulate us otherwise they will ban us.
If they want to ban you, only a huge bribe can save you. Govs are like criminal associations, and now comes along president Trump.
This legal principle does not apply to Bitcoin, which could lead to Bitcoin's demise. This could happen tomorrow - the feds could declare that this list of bitcoins [insert list here] had been used to pay a ransom or to buy drugs or support terrorism and were now forfeit. Obviously there would be no way for the feds to actually confiscate said Bitcoins, but this would effectively keep them off the exchanges and make them worthless.
This is why I believe that one of the anonymous cryptocurrencies (of which Monero is currently the frontrunner) could eventually replace Bitcoin
This is why I believe that one of the anonymous cryptocurrencies (of which Monero is currently the frontrunner) could eventually replace Bitcoin
There are some serious gaps in your reasoning
Let's assume that a government declares that some bitcoins are illegal (for example, in this or that wallet). Does it mean that a person who happens to hold these bitcoins can't spend them? If you think that he can't spend them, what exactly will prevent him from doing just that? Will the government be able to revoke his private key or can it make exchanges in other jurisdictions reject them? I guess that it won't and can't. It can't even prevent him from sending these bitcoins from one his wallet to another (I remember you said something about Bitcoin not being truly fungible). In this way, the government can as well ban the law of gravity tomorrow (and some American court is rumored to have actually done that), but does it mean that there will be no more gravity? Let's get real here. As Napoleon once said, and his dictum fits here perfectly, one should never forbid what one lacks the power to prevent
This is exactly what I find to be so interesting, and why I think a financial revolution will occur. Bitcoin isn't something governments can control. So what are they to do? They can embrace it or they can fight it. How can they embrace that which they have no control over, and how could they possibly fight it when it's not something that can be fought by a government? If we assume an idea like bitcoin is a big enough idea to change the world, the only outcome of the two aforementioned scenarios is.... a revolution.
This legal principle does not apply to Bitcoin, which could lead to Bitcoin's demise. This could happen tomorrow - the feds could declare that this list of bitcoins [insert list here] had been used to pay a ransom or to buy drugs or support terrorism and were now forfeit. Obviously there would be no way for the feds to actually confiscate said Bitcoins, but this would effectively keep them off the exchanges and make them worthless.
This is why I believe that one of the anonymous cryptocurrencies (of which Monero is currently the frontrunner) could eventually replace Bitcoin
This is why I believe that one of the anonymous cryptocurrencies (of which Monero is currently the frontrunner) could eventually replace Bitcoin
There are some serious gaps in your reasoning
Let's assume that a government declares that some bitcoins are illegal (for example, in this or that wallet). Does it mean that a person who happens to hold these bitcoins can't spend them? If you think that he can't spend them, what exactly will prevent him from doing just that? Will the government be able to revoke his private key or can it make exchanges in other jurisdictions reject them? I guess that it won't and can't. It can't even prevent him from sending these bitcoins from one his wallet to another (I remember you said something about Bitcoin not being truly fungible). In this way, the government can as well ban the law of gravity tomorrow (and some American court is rumored to have actually done that), but does it mean that there will be no more gravity? Let's get real here. As Napoleon once said, and his dictum fits here perfectly, one should never forbid what one lacks the power to prevent
This is exactly what I find to be so interesting, and why I think a financial revolution will occur. Bitcoin isn't something governments can control. So what are they to do? They can embrace it or they can fight it. How can they embrace that which they have no control over, and how could they possibly fight it when it's not something that can be fought by a government? If we assume an idea like bitcoin is a big enough idea to change the world, the only outcome of the two aforementioned scenarios is.... a revolution.
I don't think another cryptocurrency will replace bitcoin. Bitcoin is the oldest coin so far and many people already know about bitcoin, even the price for each bitcoin is really high. That cryptocurrecy who want replace bitcoin need to achieve that to replace bitcoin.
Acheiving a high price do not mean that it will be able to replace bitcoin but when an altcoin will be able to provide all the opportunities and services which bitcoin is providing then a that time that altcoin will reach to the point where bitcoin is today but at that time bitcoin will be established much more and no one will be able to compete it. 
Its getting harder to get near bitcoin, the recent pumps at bitcoin made almost all crypto going into the red, loosing value against bitcoin, at the moment is very hard to believe bitcoin will be replaced, and if there is a crypto coin with balls to challenge bitcoin at the moment, looks like bitcoin is growing and there is no space to altcoins get close.
This legal principle does not apply to Bitcoin, which could lead to Bitcoin's demise. This could happen tomorrow - the feds could declare that this list of bitcoins [insert list here] had been used to pay a ransom or to buy drugs or support terrorism and were now forfeit. Obviously there would be no way for the feds to actually confiscate said Bitcoins, but this would effectively keep them off the exchanges and make them worthless.
This is why I believe that one of the anonymous cryptocurrencies (of which Monero is currently the frontrunner) could eventually replace Bitcoin
This is why I believe that one of the anonymous cryptocurrencies (of which Monero is currently the frontrunner) could eventually replace Bitcoin
There are some serious gaps in your reasoning
Let's assume that a government declares that some bitcoins are illegal (for example, in this or that wallet). Does it mean that a person who happens to hold these bitcoins can't spend them? If you think that he can't spend them, what exactly will prevent him from doing just that? Will the government be able to revoke his private key or can it make exchanges in other jurisdictions reject them? I guess that it won't and can't. It can't even prevent him from sending these bitcoins from one his wallet to another (I remember you said something about Bitcoin not being truly fungible). In this way, the government can as well ban the law of gravity tomorrow (and some American court is rumored to have actually done that), but does it mean that there will be no more gravity? Let's get real here. As Napoleon once said, and his dictum fits here perfectly, one should never forbid what one lacks the power to prevent
Correct me if I'm wrong here but I understand it's possible to track specific Bitcoins as they travel from wallet to wallet. Of course it's true that gov't couldn't prevent the use of "confiscated" Bitcoins, but as I said they could prevent their use on exchanges within their jurisdiction. If someone owes you Bitcoins, would you rather be paid in "clean" Bitcoins that you could sell on an exchange or in "confiscated" Bitcoins you couldn't sell? Remember Gresham's law (bad money drives out good). People would hoard their "clean" Bitcoins and try to get rid of their "confiscated" Bitcoins. At the very least this would create two classes of Bitcoins
I'm inclined to think that you are incorrect in your premises
You say that Bitcoin is less fungible than cash while it is certainly the other way round (if we are not talking about nickels, of course). Every paper bill has a serial number on it, so, strictly speaking, it is unique and can be distinguished by this number from other such notes. That's basically why they have serial numbers, to easily tell one bill from another. In respect to Bitcoin, after you send, say, 1 BTC to your wallet which has a balance of 9 BTC, you won't be able to tell which one among 10 bitcoins is the bitcoin that you sent to your wallet (Bitcoin address). In this way, it is easy to understand that Bitcoin is in fact by far more fungible than any paper money out there. So what you suggest is simply impossible to implement since ultimately you would have to mark as dirty all existing bitcoins and the government will have to ban the entire Bitcoin network
Suppose that it were a felony to trade "confiscated" Bitcoins. Are you really so confident that you can cover your tracks that you would be willing to risk prison time to continue to use your "confiscated" Bitcoins? I wouldn't. Would you continue to buy or accept even "clean" Bitcoins knowing that they might be blacklisted at any time? I wouldn't do that either
Only certain transactions can be marked as dirty, not bitcoins which they are used to transfer
I think that we can safely say now that the answer is NO.... 
the network effect now is just to good, i would say that most of the good altcoins will have to work along side bitcoin from now on.
Bitcoin will always have its place in the history at least. It still can be replaced. If you do not think an altcoin can overtake it because it is better, then it might be the fall of Bitcoin and not the rise of an altcoin that will happen. I am not sure, was Mt Gox the leading exchange? They made a mistake and we still remember it, but just in the history. Why should this not happen to Bitcoin? the network effect now is just to good, i would say that most of the good altcoins will have to work along side bitcoin from now on.
I think that we can safely say now that the answer is NO.... the network effect now is just to good, i would say that most of the good altcoins will have to work along side bitcoin from now on.
the network effect now is just to good, i would say that most of the good altcoins will have to work along side bitcoin from now on. 
naaaaaa . bitcoin cant replace by any other cryptocurrency . if ever they can replace bitcoin , its ok bitcoin has done to it .
IMO, in future there is a strong chance that Bitcoin will be replaced with a technologically advanced crypto-currency. Bitcoin has a lot of advantages, but at the same time, it is having a few issues as well. In future, if a new crypto-currency is capable of avoiding these issues, then there is a good chance that it will replace Bitcoin.
One of them is the scaling issue. The number of people using the platform may be a limited number at the moment, but that number may grow absurdly. Another problem, at least for some users, is the confirmation time. It would not be a problem if the network did not present delays sometimes.
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