Will Bitcoin be replaced by another cryptocurrency? - page 174.

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Quote from: jacobmayes94 on December 23, 2016, 06:42:16 PM

Unless Bitcoin comes to a consensus on the scaling issue, then I see another cryptocurrency replacing it as a PAYMENT system but not as a store of wealth or very large transactions.

I mean you are more than likely right... As of right now it is pretty well known that Bitcoin keeps the altcoin markets "sane" in that they are a good tool for referencing the real time worth of an altcoin. Bitcoin is valuable, primarily because the cryptocurrency system depends on that.

The only thing that can be a downfall to Bitcoin in terms of how people value it, is that it isn't a physical asset that has inherent properties that makes it valuable. All of the value given to Bitcoin is no better than what gives fiat value... it's value comes from trust, and if there ever comes a point where people can't trust the Bitcoin network anymore there will be chaos not only in the Bitcoin ecosystem, but every single cryptocurrencies ecosystem.

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Unless Bitcoin comes to a consensus on the scaling issue, then I see another cryptocurrency replacing it as a PAYMENT system but not as a store of wealth or very large transactions.

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Quote from: South Park on December 23, 2016, 06:08:37 PM

It is possible bitcoin may be replaced but to become obsolete it will need lots of things like the devs not doing their job of developing new solutions to the current problems that bitcoin faces, besides as long as we have confidence on it someone will keep using bitcoin.

But because the devs of bitcoin has strong determination and has been doing hard work to make bitcoins success and they have contributed a lot of on what it is happening now with it. And also because of us, users who are faithfully using bitcoin. It reaches to the top as the main used crypto currency and most of the crypto's that are next to it just copied the idea of it.

The rising tide of cryptocurrencies is much like the occurrence of various makes and models of automobiles. The only difference is, many of us don't believe in choking off the main chain and limiting its throughput and horsepower.

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It is possible bitcoin may be replaced but to become obsolete it will need lots of things like the devs not doing their job of developing new solutions to the current problems that bitcoin faces, besides as long as we have confidence on it someone will keep using bitcoin.

couldbeangel

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and the coin that replaces bitcoin we be replace too

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As long as bitcoin has a community to support it, then bitcoin will never become obsolete. It's the community behind bitcoin that makes the bitcoin network so much stronger than its counterparts. However, if something happened to cause the community to lose confidence in the protocol, then the network would be effected negatively which might drive the community to support an alternative chain. Maybe someday a technology will provide us with a more robust network, but I don't see the community giving up on bitcoin on a magnitude that would cause it to become obsolete. There will always be somebody who is holding a stake large enough to be motivated to maintain the security of the network and that's all it takes.

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see bitcoin price is very high for this time, it is very difficult to think that bitcoin will be replaced by altcoin. today, most users cryptocurrency, focusing their goal to be able to get bitcoin more, and I'm sure they utilize altcoin to be able to have a lot of bitcoin. Well, because I do that too.

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Not in the foreseeable future, but it's possible.

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Quote from: Vorth on December 22, 2016, 03:41:52 AM

it could be possible if ever people will stop using bitcoin and migrate to alternate cryptocurrency or the bitcoin blockchain will cease on their operation . as of now it is not likely to happen as I can see the price of some alt coins are falling because of the big jump of bitcoins' price .

people are not going to stop using bitcoin, to me i think the users of bitcoin are increasing from time to time. and i think this strategy will continue even in 2017. therefore bitcoin is not going to be replace by any other currency.

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Quote from: agamasrori on December 21, 2016, 10:29:01 PM

Quote from: Rinder on December 21, 2016, 11:26:22 AM

Bitcoin is king of currency without any improvement, when those happens it just show others that bitcoin can get better, altcoins will always be altcoins, but we cant say that bitcoin wont find some strong altcoins in the future, since we all know the issues that some people dislike at bitcoin, and if a solution doesnt show off on the next years, some altcoins may hit bitcoin deeply.

Although so many people interested in altcoin especialy ETH but I think they thrust it becouse they knew about the first cryptocurrency that will not die. If bitcoin replaced by altcoin I think people will lose thrust with every cryptocurrency.

no need to lose trust, because bitcoin is not going anywhere. i think a time is coming when bitcoin will be one of the most popular currency of the world and all the people of the world will be using it for shopping trading and for so many other purposes. so bitcoin is not going to be replace by any other currency.

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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 everything is possible include bitcoin can replaced by another cryptocurrency, if other currency more be loved all person .
and other currency more high price . but i think this is difficulf thing!

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Quote from: Vorth on December 22, 2016, 03:41:52 AM

it could be possible if ever people will stop using bitcoin and migrate to alternate cryptocurrency or the bitcoin blockchain will cease on their operation . as of now it is not likely to happen as I can see the price of some alt coins are falling because of the big jump of bitcoins' price .

IN the present situation i think it's not possible, the Bitcoin is getting more popular in online gambling field. And people are started to accept bitcoin as payment in small business. I am getting my online job payment through Bitcoin. So day by day it's becoming more popular. I think no other cryptocurrency will beat bitcoin in coming days.

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Quote from: Vaskiy on December 22, 2016, 03:48:11 AM

Quote from: lite on December 22, 2016, 02:53:35 AM

Quote from: agamasrori on December 21, 2016, 10:29:01 PM

Quote from: Rinder on December 21, 2016, 11:26:22 AM

Bitcoin is king of currency without any improvement, when those happens it just show others that bitcoin can get better, altcoins will always be altcoins, but we cant say that bitcoin wont find some strong altcoins in the future, since we all know the issues that some people dislike at bitcoin, and if a solution doesnt show off on the next years, some altcoins may hit bitcoin deeply.

Although so many people interested in altcoin especialy ETH but I think they thrust it becouse they knew about the first cryptocurrency that will not die. If bitcoin replaced by altcoin I think people will lose thrust with every cryptocurrency.

You misspelled trust.
sure there is interest in altcoins, but nothing is going to replace bitcoin. no altcoin is ever going to be as popular and strong as bitcoin.

Altcoins were given preference for a short time when its found to be in the peak for the trading needs. Rather than that bitcoin is given preference by most of the users due to increased acceptance than other digital currencies as well due to the long lasting.

Nothing can change the fact that bitcoin is superior among any other cryptocurrency right now.
But who knows in the future some altcoins give a surprise.
A breakthrough just like what ethereum did last year and make them almost as popular as bitcoin.

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Quote from: lite on December 22, 2016, 02:53:35 AM

Quote from: agamasrori on December 21, 2016, 10:29:01 PM

Quote from: Rinder on December 21, 2016, 11:26:22 AM

Bitcoin is king of currency without any improvement, when those happens it just show others that bitcoin can get better, altcoins will always be altcoins, but we cant say that bitcoin wont find some strong altcoins in the future, since we all know the issues that some people dislike at bitcoin, and if a solution doesnt show off on the next years, some altcoins may hit bitcoin deeply.

Although so many people interested in altcoin especialy ETH but I think they thrust it becouse they knew about the first cryptocurrency that will not die. If bitcoin replaced by altcoin I think people will lose thrust with every cryptocurrency.

You misspelled trust.
sure there is interest in altcoins, but nothing is going to replace bitcoin. no altcoin is ever going to be as popular and strong as bitcoin.

Altcoins were given preference for a short time when its found to be in the peak for the trading needs. Rather than that bitcoin is given preference by most of the users due to increased acceptance than other digital currencies as well due to the long lasting.

Vorth

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it could be possible if ever people will stop using bitcoin and migrate to alternate cryptocurrency or the bitcoin blockchain will cease on their operation . as of now it is not likely to happen as I can see the price of some alt coins are falling because of the big jump of bitcoins' price .

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Quote from: Harlot on December 22, 2016, 03:25:58 AM

Quote from: Achargeturry78 on December 22, 2016, 03:21:05 AM

Quote from: Senor.Bla on December 22, 2016, 03:05:13 AM

I just came to the realization that the success of Bitcoin might become a problem. If the Bitcoin price i to high and if there is an altcoin that is as good as bitcoin, but much cheaper, then people might adopt that coin instead of Bitcoin. Because right know i do not see that the infrastructure of Bitcoin is that much better like the price suggests.

Bitcoin is successful currency that will never be a problem anymore not all altcoin are depending on the price of the bitcoin altcoins are dependsnon the volume and demand as well pumping them and dumping then is part of market exchange to get profit , bitcoin soon will build its own structure bitcoin has a big potential growing community.

Actually that is not the case whether Bitcoin is expensive or not other altcoins will be under is shadow. Look at other altcoins that prove they are better than Bitcoin, they still have lower value compared to Bitcoin. Of course its because Bitcoin has the largest market share among all cryptocurrencies, Bitcoib so far is the most widely accepted cryptocurrency out there.

I can agree that Bitcoin is the most accepted crypto there is. Also the price of other cryptos is lower then Bitcoins. Maybe some are even better. If that is all the case, then some better altcoin should replace Bitcoin over time. Why should i pay more for something worse. This will not happen overnight, but replacing Bitcoin does not mean that you have a higher price then Bitcoin. It means you are wider adopted. And for this a cheaper price might be even better.

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Quote from: Achargeturry78 on December 22, 2016, 03:21:05 AM

Quote from: Senor.Bla on December 22, 2016, 03:05:13 AM

I just came to the realization that the success of Bitcoin might become a problem. If the Bitcoin price i to high and if there is an altcoin that is as good as bitcoin, but much cheaper, then people might adopt that coin instead of Bitcoin. Because right know i do not see that the infrastructure of Bitcoin is that much better like the price suggests.

Bitcoin is successful currency that will never be a problem anymore not all altcoin are depending on the price of the bitcoin altcoins are dependsnon the volume and demand as well pumping them and dumping then is part of market exchange to get profit , bitcoin soon will build its own structure bitcoin has a big potential growing community.

sorry, but i can honestly say that i have tried to make sense of what you wrote, but i have no clue what you mean. Explain it so i can understand what your point is or i will have to assume that it is just some Bitcoin is the best rubbish without a point and that you have no understanding of Bitcoin.

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Quote from: Achargeturry78 on December 22, 2016, 03:21:05 AM

Quote from: Senor.Bla on December 22, 2016, 03:05:13 AM

I just came to the realization that the success of Bitcoin might become a problem. If the Bitcoin price i to high and if there is an altcoin that is as good as bitcoin, but much cheaper, then people might adopt that coin instead of Bitcoin. Because right know i do not see that the infrastructure of Bitcoin is that much better like the price suggests.

Bitcoin is successful currency that will never be a problem anymore not all altcoin are depending on the price of the bitcoin altcoins are dependsnon the volume and demand as well pumping them and dumping then is part of market exchange to get profit , bitcoin soon will build its own structure bitcoin has a big potential growing community.

Actually that is not the case whether Bitcoin is expensive or not other altcoins will be under is shadow. Look at other altcoins that prove they are better than Bitcoin, they still have lower value compared to Bitcoin. Of course its because Bitcoin has the largest market share among all cryptocurrencies, Bitcoib so far is the most widely accepted cryptocurrency out there.

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Quote from: Senor.Bla on December 22, 2016, 03:05:13 AM

I just came to the realization that the success of Bitcoin might become a problem. If the Bitcoin price i to high and if there is an altcoin that is as good as bitcoin, but much cheaper, then people might adopt that coin instead of Bitcoin. Because right know i do not see that the infrastructure of Bitcoin is that much better like the price suggests.

Bitcoin is successful currency that will never be a problem anymore not all altcoin are depending on the price of the bitcoin altcoins are dependsnon the volume and demand as well pumping them and dumping then is part of market exchange to get profit , bitcoin soon will build its own structure bitcoin has a big potential growing community.

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Quote from: Senor.Bla on December 22, 2016, 03:05:13 AM

I just came to the realization that the success of Bitcoin might become a problem. If the Bitcoin price i to high and if there is an altcoin that is as good as bitcoin, but much cheaper, then people might adopt that coin instead of Bitcoin. Because right know i do not see that the infrastructure of Bitcoin is that much better like the price suggests.

That's possible. But we can't disregard the fact that behind the bitcoin's success is the people who are using it, that means they are the foundation, Without them bitcoin cannot reach it to the top and succeed. Investors won't just quit bitcoin when it is still profitable.

What I think that could make people leave bitcoin is if it fail to please them and if there are flaws that is unfixed or worst irreparable.

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