Will Bitcoin be replaced by another cryptocurrency? - page 224.

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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?

Hard to tell. Another genius could have been born there or here and just progressing now for the future. But in the end it will always need the support of many people. Without it, it will be nothing.

hawkins

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I do not know, I guess that will not happen. bitcoin is currently still the best coins of the others, and I guess it will never be replaced. bitcoin might be replaced if there is a coin that has a higher price of bitcoin. but until now there has been no sign of the coin

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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 do not think that that is ever going to happen Bitcoin is the most popular one so for a other cryptocurrency to take it over seems unlikely.
Maybe in the future Bitcoin will be taken over, you never know what can happen.

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That's really hard to replace and take the place of bitcoin by any other digital currency, because following the existence of bitcoin lots and lots of digital currencies existed but nothing has survived long as bitcoin.

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There is no such support into any crypto as bitcoin has, besides being the first crypto currency, is the main coin mined for any miner, or big miner. Altcoins are all traded against bitcoin, soo to bitcoin looses the king of crypto something bad should happen to it or maybe the altcoin get some huge interest from huge company.

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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 makes sense since in this world nothing is permanent but change. But i think for that to happen, it will take sometime. And if proven Bitcoin Tech in that time is obsolete and need a much more advance crypto currency and base user and fan exceeds of that of Bitcoin. And the most essential is government support. If some coin and not bitcoin will be supported and back by many country it will surely replace bitcoin.

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I think no other currency will replace btc but some can become almost as popular. Altcoin, for example

wiked1

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It might be replaced by many cryptocurrencies if it does not achieve what it was supposed to in the first place.

elyas772

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this is just my opinion, bitcoin will replace dollar system, blockchain will replace bank system, after long time maybe 100-500year people create new currency, higher technology than bitcoin, then people use it and leave bitcoin.

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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 do not think that Bitcoin is going to be take over by a other currency because Bitcoin is the most popular so it would really take something to take it over.
It can be possible that Bitcoin is going to take over a other cryptocurrency.

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Quote from: calkob on July 02, 2016, 03:39:44 PM

I think its main rival recently was Ether but since the whole DAO scandle it has droped back abit to reinforce bitcoin dominance.......

The Ethereum is in big trouble at the moment. It might not even survive. Even if it survives, it will be the second coin.

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I think its main rival recently was Ether but since the whole DAO scandle it has droped back abit to reinforce bitcoin dominance.......

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Quote from: randy8777 on July 01, 2016, 12:17:07 PM

Quote from: ASHLIUSZ on July 01, 2016, 11:56:34 AM

Quote from: agustina2 on July 01, 2016, 11:17:03 AM

Quote from: rababo on July 01, 2016, 11:10:44 AM

Technology always inovate. In future, I'm sure there will be better cryptocurrency than bitcoin. It's just a matter of time.
But, bitcoin might be unreplaceable. Bitcoin is so popular and has high demand, maybe it's popularity will getting grower and will be the best cryptocurrency ever.

For that to happen, it doesn't need a technology improvement. If all big whales will left bitcoin then that's it.

But this is impossible. Since they will have to start again from the scratch to start a strong market like bitcoin market currently is.

Bitcoin offers benefits to merchants as well, as transactions that involve the digital currency are secure and irreversible.
Another major plus of the new cryptocurrency is the very low cost for sending and receiving bitcoins. While it is possible to send transactions completely free of charge, no other cryptocurrencies can do this.

transactions without any fees barely confirm unless you are very lucky and the transaction size is very low. and then it still may take a day or so. that's not really a benefit of bitcoin anymore like it was years ago.

Transactions of bitcoin are much instant (only confirmations takes time) than any other digital currency. Besides that trasaction of bitcoin are much cheaper than others as due to low fees comparitively. And I dont think in presence of these benefits bitcoin will be replaced by any other digital currency in future.

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Quote from: ASHLIUSZ on July 01, 2016, 11:56:34 AM

Quote from: agustina2 on July 01, 2016, 11:17:03 AM

Quote from: rababo on July 01, 2016, 11:10:44 AM

Technology always inovate. In future, I'm sure there will be better cryptocurrency than bitcoin. It's just a matter of time.
But, bitcoin might be unreplaceable. Bitcoin is so popular and has high demand, maybe it's popularity will getting grower and will be the best cryptocurrency ever.

For that to happen, it doesn't need a technology improvement. If all big whales will left bitcoin then that's it.

But this is impossible. Since they will have to start again from the scratch to start a strong market like bitcoin market currently is.

Bitcoin offers benefits to merchants as well, as transactions that involve the digital currency are secure and irreversible.
Another major plus of the new cryptocurrency is the very low cost for sending and receiving bitcoins. While it is possible to send transactions completely free of charge, no other cryptocurrencies can do this.

transactions without any fees barely confirm unless you are very lucky and the transaction size is very low. and then it still may take a day or so. that's not really a benefit of bitcoin anymore like it was years ago.

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Quote from: agustina2 on July 01, 2016, 11:17:03 AM

Quote from: rababo on July 01, 2016, 11:10:44 AM

Technology always inovate. In future, I'm sure there will be better cryptocurrency than bitcoin. It's just a matter of time.
But, bitcoin might be unreplaceable. Bitcoin is so popular and has high demand, maybe it's popularity will getting grower and will be the best cryptocurrency ever.

For that to happen, it doesn't need a technology improvement. If all big whales will left bitcoin then that's it.

But this is impossible. Since they will have to start again from the scratch to start a strong market like bitcoin market currently is.

Bitcoin offers benefits to merchants as well, as transactions that involve the digital currency are secure and irreversible.
Another major plus of the new cryptocurrency is the very low cost for sending and receiving bitcoins. While it is possible to send transactions completely free of charge, no other cryptocurrencies can do this.

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Quote from: The Sceptical Chymist on July 01, 2016, 11:14:54 AM

I think it's possible, especially if there is one created by the big banks. On the other hand I think if bitcoin fails, there's not going to be much that's better that's going to come along. It really is entrenched. When people think of crypto, they think of bitcoin.

i don't agree at all.
one of the most amazing features of bitcoin or any other altcoin for that matter is the decentralized feature of them so if a bank creates it then nobody will ever be interested in it because they are using fiat without any problem now.

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Quote from: rababo on July 01, 2016, 11:10:44 AM

Technology always inovate. In future, I'm sure there will be better cryptocurrency than bitcoin. It's just a matter of time.
But, bitcoin might be unreplaceable. Bitcoin is so popular and has high demand, maybe it's popularity will getting grower and will be the best cryptocurrency ever.

For that to happen, it doesn't need a technology improvement. If all big whales will left bitcoin then that's it.

But this is impossible. Since they will have to start again from the scratch to start a strong market like bitcoin market currently is.

The Sceptical Chymist

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I think it's possible, especially if there is one created by the big banks. On the other hand I think if bitcoin fails, there's not going to be much that's better that's going to come along. It really is entrenched. When people think of crypto, they think of bitcoin.

rababo

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Technology always inovate. In future, I'm sure there will be better cryptocurrency than bitcoin. It's just a matter of time.
But, bitcoin might be unreplaceable. Bitcoin is so popular and has high demand, maybe it's popularity will getting grower and will be the best cryptocurrency ever.

PinkLlama

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It's possible, but I doubt it personally. Bitcoin is where all the coins originated from.

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