Will the bitcoin be outdated by another currency? - page 48.

crazycatwoman03

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Quote from: jamids on April 22, 2018, 11:08:55 PM

It is possible that another currency would be able to take the throne of bitcoin. There are a lot of attempts claiming its position but so far no one succeeded because people still prefer bitcoin. If there is more demand to a coin that is a payment option and is better than bitcoin in terms of transaction fee and confirmation time then there is a possibility it will be replaced but if not then bitcoin would remain in its throne. There are so many altcoins nowadays, thousand of them but not one can surpass bitcoin yet because the demand of bitcoin is still there.

This is true, many have really tried to replace bitcoin in its spot but still bitcoin remain to be the number one cryptocurrency. We can see that even Ethereum, the leading altcoin, can't just replaced bitcoin in its place. Their price equivalents are far from each other which shows how bitcoin is really dominating. Anyways, there is a possibility for bitcoin to be replaced in its spot but it is not going to be easy. When we say cryptos, people who haven't know it yet that much will say, "Crypto as in Bitcoin." Bitcoin is very popular that when we say cryptos/ digital money/cryptocurrency, Bitcoin is the first thing that will cross their minds.

As for me, thinking about bitcoin being replaced will be very hard especially when it is the most popular, in-demand and most used cryptos by all of us.

krishnaverma

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Quote from: w33man on April 22, 2018, 07:52:34 PM

Bitcoin had been popular and well known to people. They treat it as the main currency in crypto world. It's the first crypto currency to ever bring convenience to everyone using the block chain technology. The reason why there are over thousands of crypto currencies today, is because it was inspired by the idea of bitcoin. So, I guess there nothing to replace it.

That is a very conservative approach in my opinion. I am also a fan of bitcoins but I think that there is always scope for improvement. Everything changes with time and bitcoins is no exception. We can have better technologies in future and bitcoins can co-exist with them.

BartS

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Quote from: DevelopmentBank on April 22, 2018, 10:52:28 PM

I love bitcoin and am all for it's goals in decentralization. It is clearly the king and won't be outdated by any other coin any time soon. However, as new technology evolves I am worried that bitcoin becomes stagnant and can be overtaken by other coins like Ethereum which already has far more features than what bitcoin has. Naturally, people will flock to what is useful, cheap, convenient. If Ethereum or some other coin offers that, people will use it instead. I hope that bitcoin development continues to think outside the box and continues innovating.

If having more features was enough to surpass bitcoin then ethereum will be the first coin already in market cap, don't you think? So we cannot think that a coin is going to surpass bitcoin just because it can do more things, I know that this is true with most technologies, but you must not forget that bitcoin is not only a new technology, bitcoin is also a currency and if you take the time to look at the history of currencies you will see that it takes a lot of time before a currency is replaced by another, so I am very confident that bitcoin will be around for a long time.

Elrozaq

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Quote from: waywethe on April 03, 2018, 12:02:39 PM

No altcoin can be compared to Bitcoin and Bitcoin will forever be a king in Crypto. But if you want to overthrow Bitcoin, only ETH can do it. Because ETH is also developing strongly and is trending up like Bitcoin before

yes, it is true mate. I dont find a similar coin like bitcoin. many advantages of bitcoin. easy, simple and secure.

icecube45

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will the bitcoin be outdate by another currency ?the answer is yes, maybe I have different views and opinions with you because there are always other currencies that are superior in some sectors. by the way I like the analogy about bitcoin is myspace and the other currency is facebook and it's true it's wrong. bitcoin is one of the most currency in the world and one of the most users in the world so it's this that might make bitcoin become not out of date

jamids

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It is possible that another currency would be able to take the throne of bitcoin. There are a lot of attempts claiming its position but so far no one succeeded because people still prefer bitcoin. If there is more demand to a coin that is a payment option and is better than bitcoin in terms of transaction fee and confirmation time then there is a possibility it will be replaced but if not then bitcoin would remain in its throne. There are so many altcoins nowadays, thousand of them but not one can surpass bitcoin yet because the demand of bitcoin is still there.

EnricoGomez

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In my opinion, yes, bitcoin may be outdated by another currency - but in the future. No one really knows what can happen in the future but surely there are a lot of innovations on technology to be used. Someone may create something better and secure than Bitcoin.
But in this time frame, maybe not yet. Bitcoin is the forerunner on cryptocurrencies and has the most advanced technology which makes it the most popular.

DevelopmentBank

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I love bitcoin and am all for it's goals in decentralization. It is clearly the king and won't be outdated by any other coin any time soon. However, as new technology evolves I am worried that bitcoin becomes stagnant and can be overtaken by other coins like Ethereum which already has far more features than what bitcoin has. Naturally, people will flock to what is useful, cheap, convenient. If Ethereum or some other coin offers that, people will use it instead. I hope that bitcoin development continues to think outside the box and continues innovating.

Martinkuhn

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0xf54CA5618b90810722B0e833DC150a97743A40B4

Bitcoin will always be here as the top cryptocurrency for storage of value but the blockchain has greater potential than just a store of value.

So we will see ETH and NEO taking up first place for smart contracts.. but BTC will still be around.

gambitcoin53

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funny, you've answered your own question nicely and neatly, since bitcoin is in digital platform, being outdated is so impossible, it is an ever evolving platform. first, bitcoin was intend only as a digital currency, limited only for online purchases only, now it is as good as fiats, blockchains are being developed to shell out bitcoin's full potential, as what we are enjoying right now, it can give us the chance to work or render services paid in bitcoin, it can be use as payment for utility bills, send P2P, and so much more. though many altcoins are being developed too, bitcoin will remain to be the best among them, no other crypto currency can beat bitcoin. even fiat currency cannot outdate bitcoin, since fiats are limited per international laws and exchanges, bitcoin is digital, so there are no international laws barrier. as long as bitcoin is accepted by a certain country.

Janation

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Quote from: cahbagus555 on April 22, 2018, 08:19:26 PM

Quote from: virasisog on April 22, 2018, 07:55:44 PM

No, as we are heading to the future it will be always a question and for some instances a competition and competitor that will claiming they will have the best system of cryptocurrency to beat bitcoins in ranking. Time will say everything and for all i knw it can't be happen bitcoin is exploding and no one can stop it.

Maybe in the future, many coin more advance and offering lower fee than bitcoin but I am believe that bitcoin still primary choice because its pioneer in cryptocurrency. But in other side, others coin will rising and can take bitcoin domination

I don't think that will happen with a lot of Bitcoin users and supporters all around the world. Considering the people who also want to invest on Bitcoin and plan to hold on it until they've reached a favorable price that is good for them to sell it. Bitcoin might have a high fee but we all know that a lot of great profits was given by Bitcoin in the past.

cahbagus555

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Quote from: virasisog on April 22, 2018, 07:55:44 PM

No, as we are heading to the future it will be always a question and for some instances a competition and competitor that will claiming they will have the best system of cryptocurrency to beat bitcoins in ranking. Time will say everything and for all i knw it can't be happen bitcoin is exploding and no one can stop it.

Maybe in the future, many coin more advance and offering lower fee than bitcoin but I am believe that bitcoin still primary choice because its pioneer in cryptocurrency. But in other side, others coin will rising and can take bitcoin domination

joms123

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Quote from: lbassotto on April 03, 2018, 10:59:32 AM

My answer to the principle is: NO

Bitcoin is money, the value of money is built on confidence, tradition and security, attributes that Bitcoin offers easily. The analogy between Bitcoin and social networks is completely incorrect, people think that Bitcoin is an myspace that will be replaced by facebook. It turns out that Bitcoin is money and not a social network, so this comparison is completely wrong.

Most of mankind's wealth resides in vaults for hundreds of years, so the circulating medium is derisory close to it. Why are we going to need fast, no-fee coins if we can use paper money and banks? Bitcoin's purpose is to be a safe asset, scarce and superior to gold. What is behind Bitcoin is the fact that no politician can steal you through taxes or inflation, there is nothing safer than Blockchain and Bitcoin. So far no technologically superior currency has emerged to Bitcoin to the point of provoking an abyss between technologies and will hardly emerge.

BUY BITCOIN TODAY AND ALWAYS.

Bitcoin is King Kong

Do not mistake this. Bitcoin (BTC) is still standard of measurement against ALL other altcoins in the crypto world. And when BTC runs or when BTC dips, alts bleed. This is because BTC still rules them all.

And while I have answered questions regarding other coins in the past, I have only focused on altcoins with solid dev teams behind the coin and have the markings of a solid project. However, I never mistake those coins as better than BTC or long term holds.

For example, Ripple (XRP) has a solid run. Many people began buying into it as it started to run and at the all time high (ATH). Those who bought ATH, for example, learned a hard lesson. It took a hard dip and correction and many people were hurt (or in the crypto world, the term is they got “wrecked). However, if you were like me, I sold my XRP when it hit the ATH and put it into USDT, then jumped in on a BTC dip three days ago when BTC went from $15,000 to $17,400 (it jumped $2,400) and I pulled back to USDT.

While others who bought into Ripple, currently at $2.73 as of writing this, are waiting for the next price jump (to $3.00?), I made 20x as much buying into BTC while they wait for their profits

…because BTC is still the king.

Elkafi

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Quote from: lbassotto on April 03, 2018, 10:59:32 AM

My answer to the principle is: NO

Bitcoin is money, the value of money is built on confidence, tradition and security, attributes that Bitcoin offers easily. The analogy between Bitcoin and social networks is completely incorrect, people think that Bitcoin is an myspace that will be replaced by facebook. It turns out that Bitcoin is money and not a social network, so this comparison is completely wrong.

Most of mankind's wealth resides in vaults for hundreds of years, so the circulating medium is derisory close to it. Why are we going to need fast, no-fee coins if we can use paper money and banks? Bitcoin's purpose is to be a safe asset, scarce and superior to gold. What is behind Bitcoin is the fact that no politician can steal you through taxes or inflation, there is nothing safer than Blockchain and Bitcoin. So far no technologically superior currency has emerged to Bitcoin to the point of provoking an abyss between technologies and will hardly emerge.

BUY BITCOIN TODAY AND ALWAYS.

I am not sure, I think no altcoin can be compared to bitcoin.bitcoin is simple, that what people prefer bitcoin than another.

ralle14

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Quote from: bamboylee on April 22, 2018, 07:38:18 PM

Maybe in the next 10 years, bitcoin will still be number 1 but there will be something new that will be developed that will overthrow and replace bitcoin someday.

It should be number 1 for more than a decade there's no way other top cryptos would take bitcoin's number 1 spot. I do agree with you nothing is permanent here except for change there's always an end for something whether we like it or not. Bitcoin would get replaced in the future the only question here is when? It could take hundreds of years before a better crypto would get more demand over it.

virasisog

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No, as we are heading to the future it will be always a question and for some instances a competition and competitor that will claiming they will have the best system of cryptocurrency to beat bitcoins in ranking. Time will say everything and for all i knw it can't be happen bitcoin is exploding and no one can stop it.

w33man

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Bitcoin had been popular and well known to people. They treat it as the main currency in crypto world. It's the first crypto currency to ever bring convenience to everyone using the block chain technology. The reason why there are over thousands of crypto currencies today, is because it was inspired by the idea of bitcoin. So, I guess there nothing to replace it.

Lazada

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Quote from: bamboylee on April 22, 2018, 07:38:18 PM

I think that it is bad idea to think that something will not be replaced. That will just mean that something will be stagnant and not develop anymore. Technology develops fast and things get outdated one way or another. I think, it is the same with bitcoin. It is a great technology but there will always be better as time goes by. That is how technology advances. The old is replaced by something new and better. I think bitcoin is not immune to that. Maybe in the next 10 years, bitcoin will still be number 1 but there will be something new that will be developed that will overthrow and replace bitcoin someday.

Yes it is true that this time bitcoin still has such great power. Bitcoin still has a very high popularity and there is no coin that can beat the popularity of Bitcoin. As you said that I quite agree that there may be a coin that will have great strength in the next ten years. So things can happen, but for now we still trust Bitcoin as something that has a very high level of trust and popularity.

bamboylee

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I think that it is bad idea to think that something will not be replaced. That will just mean that something will be stagnant and not develop anymore. Technology develops fast and things get outdated one way or another. I think, it is the same with bitcoin. It is a great technology but there will always be better as time goes by. That is how technology advances. The old is replaced by something new and better. I think bitcoin is not immune to that. Maybe in the next 10 years, bitcoin will still be number 1 but there will be something new that will be developed that will overthrow and replace bitcoin someday.

thecoder2017

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No altcoins can surpass bitcoin even when the times that prices of altcoins go down all of them go down no one stay and beat bitcoin so i believe that bitcoin is still the father of all coins and no one can beat it.

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