Topic: Will Bitcoin be replaced by another cryptocurrency? - page 209. (Read 186421 times)
Right now, I can't see how it is a possibility. Every single altcoin depends on Bitcoin. But maybe in the future, after some upgrades, a new coin will rise and surpass Bitcoin. Maybe a rise-only coin that you can sell whenever you want? People would surely invest in a coin like that especially if it's rising exponentially.
Yes bitcoin will be soon replaced by new crypto because bitcoin has some flaws like long confirmation time which is getting longer every year
Bitcoin has had a huge advantage by being the first cryptocurrency ever. Its market cap is 10x larger than the closest competitor in terms of market cap (ethereum).
It also has received significantly more press in mainstream media than other altcoins.
Since many altcoins have more advanced and complex features over bitcoin, they are even harder to understand to the ordinary person.
Try explaining "smart contracts or the dao to someone with no knowledge of cryptocurrency and you will understand.
At some point bitcoin will be overtaken, just because it is far behind in its technology, but the question is how long that will take. No coin has gathered that kind of momentum since bitcoin.
It also has received significantly more press in mainstream media than other altcoins.
Since many altcoins have more advanced and complex features over bitcoin, they are even harder to understand to the ordinary person.
Try explaining "smart contracts or the dao to someone with no knowledge of cryptocurrency and you will understand.
At some point bitcoin will be overtaken, just because it is far behind in its technology, but the question is how long that will take. No coin has gathered that kind of momentum since bitcoin.
"Since many altcoins have more advanced and complex features over bitcoin, they are even harder to understand to the ordinary person"
I agree with that. The simplicity is the key to the bitcoin success.
It is possible, but very unlikely in my opinion.
Bitcoin has had a huge advantage by being the first cryptocurrency ever. Its market cap is 10x larger than the closest competitor in terms of market cap (ethereum).
It also has received significantly more press in mainstream media than other altcoins.
Since many altcoins have more advanced and complex features over bitcoin, they are even harder to understand to the ordinary person.
Try explaining "smart contracts or the dao to someone with no knowledge of cryptocurrency and you will understand.
At some point bitcoin will be overtaken, just because it is far behind in its technology, but the question is how long that will take. No coin has gathered that kind of momentum since bitcoin.
It also has received significantly more press in mainstream media than other altcoins.
Since many altcoins have more advanced and complex features over bitcoin, they are even harder to understand to the ordinary person.
Try explaining "smart contracts or the dao to someone with no knowledge of cryptocurrency and you will understand.
At some point bitcoin will be overtaken, just because it is far behind in its technology, but the question is how long that will take. No coin has gathered that kind of momentum since 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?
Maybe not replaced by any cryptocurrency the bitcoin because it is mainly used to buy our altcoins . And it is also the most main cryptocurrency so hard to be replaced by others . The bitcoin will be used to invest more and can be converted into cash but the other cryptocurrency will need to sell it for use in bitcoin before we convert it.Me too i don't think that bitcoin is going to be replaced by another currency easily. And I can see that there are some few alt coins that has the potential to be next to bitcoin but they don't have any chance of replacing bitcoin. I can see the ETH and monero they are on my list but I still don't know if they are going to be tough enough.
Bitcoin is not perfect so progress and change are inevitable. Sooner or later, newer more robust technology will seek to replace Bitcoin the same way Bitcoin seeks to replace fiat. However it will likely be a very long time before this happens. The blockchain is powerful enough to last for many generations unchallenged in my opinion.
I think it is possible, bitcoin also start as a usual cryptocurrency, so any alt coin can replace bitcoin as long as it has a lot of user and the transaction rate is high, but to achieve or replace bitcoin is a difficult things, because bitcoin is already famous and has so many user
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 not replaced by any cryptocurrency the bitcoin because it is mainly used to buy our altcoins . And it is also the most main cryptocurrency so hard to be replaced by others . The bitcoin will be used to invest more and can be converted into cash but the other cryptocurrency will need to sell it for use in bitcoin before we convert it.Me too i don't think that bitcoin is going to be replaced by another currency easily. And I can see that there are some few alt coins that has the potential to be next to bitcoin but they don't have any chance of replacing bitcoin. I can see the ETH and monero they are on my list but I still don't know if they are going to be tough enough.
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 not replaced by any cryptocurrency the bitcoin because it is mainly used to buy our altcoins . And it is also the most main cryptocurrency so hard to be replaced by others . The bitcoin will be used to invest more and can be converted into cash but the other cryptocurrency will need to sell it for use in bitcoin before we convert it.Me too i don't think that bitcoin is going to be replaced by another currency easily. And I can see that there are some few alt coins that has the potential to be next to bitcoin but they don't have any chance of replacing bitcoin. I can see the ETH and monero they are on my list but I still don't know if they are going to be tough enough.
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 not replaced by any cryptocurrency the bitcoin because it is mainly used to buy our altcoins . And it is also the most main cryptocurrency so hard to be replaced by others . The bitcoin will be used to invest more and can be converted into cash but the other cryptocurrency will need to sell it for use in bitcoin before we convert 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?
Maybe not replaced by any cryptocurrency the bitcoin because it is mainly used to buy our altcoins . And it is also the most main cryptocurrency so hard to be replaced by others . The bitcoin will be used to invest more and can be converted into cash but the other cryptocurrency will need to sell it for use in bitcoin before we convert it.
I don't think bitcoin will be replaced, but I think the price will get so high that there will be another cryptocurrency or several that will be used in conjunction with bitcoin. I think there is room for more than one.
ZCash could be the one to take the seat of the bitcoin or become a second coin as it offers the anonymity in transaction.
huge premine and you have to trust someone to maintain that privacy? that don't sound very promising to me. that's not gonna stop a stupidly high valuation of course. no one seems to care about crypto's principles if there's a smell of pump.
There is no premine.
https://forum.z.cash/t/final-zcash-mining-specifications/355
Block time spacing/target spacing: Currently, in testnet, 2.5 minutes, with 12.5 ZEC reward per block. If there are any forthcoming multiplicative changes in block reward, they will be correlated to spacing such that zcash's rate of emission is fixed at an equivalency to Bitcoin's original emission curve, such that 50 ZEC are issued every 10 minutes. This emission curve is finalized, even though the block reward and spacing aren't yet.
github.com/zcash/zcash/issues/142#issuecomment-112935618
However, to protect against instamining and accusations of miner collusion, the zcash team has decided not to apply the above rate of emission right from the genesis block. Instead, ZEC's emission will be subject to a slow start, where the emission curve will gradually ramp up to the full emission rate of 12.5 ZEC per block over the first 20,000 blocks. If there are further adjustments to the block spacing and reward, they will be in such a way that the following equation always remains true:
{# of slow start blocks} * {full block reward} = 250000
ZCash could be the one to take the seat of the bitcoin or become a second coin as it offers the anonymity in transaction.
huge premine and you have to trust someone to maintain that privacy? that don't sound very promising to me. that's not gonna stop a stupidly high valuation of course. no one seems to care about crypto's principles if there's a smell of pump.
I dont think it could ever happen in future that bitcoin being replaced by any other crypto-currency.As of now we see any other crypto-currency has no match with the bitcoin till now.Ethereum promised alot in the start and looking like a good compatitor of bitcoin but it is now too far away from bitcoin so i think bitcoin will rule the crypto-currency world.
There is always this possibility that someone will take the seat of bitcoin as the number one cryptocurrency but no one can replace bitcoin in terms of what it has done to the financial and investment world. Pioneer will always get the credit even if it become obsolete. But the demise of bitcoin depends on the decision of those who have the authority over the changes and implementations of bitcoin.
ZCash could be the one to take the seat of the bitcoin or become a second coin as it offers the anonymity in transaction.
I guess all the exchanger sites right now , you cant even see any other crypto currency that has a 50% price on bitcoin so i think that this is merely possible even in the future
it's really possible in the future that some another cryptocurrency could even replace bitcoin it's just depend on how techonologies are getting developed years by years,as you see so many altcoin now offering so many features and unique features always getting developed,it's just matter about the time but i think it's still far away for another cryptocurrency to take over bitcoin placeBut bitcoin has really a strong value on the market right now and theyve also build a much stronger community so the probabiloty was really really low. Unless if all the users switches which is really impossible for me
The main reason why bitcoin is so popular and is the most widely used cryptocurrency is just because it was the first currency that has ever been invented in the digital world and that is crypto and even though I really like it and even have some I think that there are better cryptos for sure
In my opinion it is the only question when bitcoin is going to be conquered by some other crypto, we already see that there are many rivals and they are already really strong, I'm sure that in the future they will be only stronger and bitcoin will have to be updated hard in order to fight for the name of the best cryptocurrency
I dont think it could ever happen in future that bitcoin being replaced by any other crypto-currency.As of now we see any other crypto-currency has no match with the bitcoin till now.Ethereum promised alot in the start and looking like a good compatitor of bitcoin but it is now too far away from bitcoin so i think bitcoin will rule the crypto-currency world.
There is always this possibility that someone will take the seat of bitcoin as the number one cryptocurrency but no one can replace bitcoin in terms of what it has done to the financial and investment world. Pioneer will always get the credit even if it become obsolete. But the demise of bitcoin depends on the decision of those who have the authority over the changes and implementations of bitcoin.
I dont think it could ever happen in future that bitcoin being replaced by any other crypto-currency.As of now we see any other crypto-currency has no match with the bitcoin till now.Ethereum promised alot in the start and looking like a good compatitor of bitcoin but it is now too far away from bitcoin so i think bitcoin will rule the crypto-currency world.
of course, is the pioneer of digital currency bitcoin today. bitcoin will persist until some time later. when bitcoin can be replaced by altcoin, then the future of digital currency would end.
Exactly as it is. If bitcoin will become a fail one all of cryptos will suffer too and because that is the main thing no such replacement will happen.
A crash bitcoin means a crash of cryptocurrency and it will never bring back the support it already received by the community.
Yeah if bitcoin dies or disappear in future then many people will loose faith in crypto currencies and will prefer to quit them and there is full possibility of this to happen in future.
Since bitcoin still crash after such stable stand today no way investors or other people in the community will prefer to use again the art of cryptocurrency.
It's a 100% lose faith since how come a strong currency still failed. So that is also possible for those other alts.
of course, is the pioneer of digital currency bitcoin today. bitcoin will persist until some time later. when bitcoin can be replaced by altcoin, then the future of digital currency would end.
Exactly as it is. If bitcoin will become a fail one all of cryptos will suffer too and because that is the main thing no such replacement will happen.
A crash bitcoin means a crash of cryptocurrency and it will never bring back the support it already received by the community.
Yeah if bitcoin dies or disappear in future then many people will loose faith in crypto currencies and will prefer to quit them and there is full possibility of this to happen in future.
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