Most of bitcoin's value comes from the fact that it has been here for really long, and it is like the big statue of the cryptocurrency market, you won't hear about someone who knows about an altcoin but never heard about bitcoin.
Not only that, most of the altcoins are being traded against bitcoin only so if someone want to buy a specific altcoin he has to buy bitcoin at first and then to convert it into alts.
The only reason I see bitcoin goes down from being the main cryptocurrency is a fork or something like that.
Topic: Will the bitcoin be outdated by another currency? - page 55. (Read 5719 times)
For me theres no impossible since we have so much time to wait,and so long way to go..yes bitcoin is the first coin,yes bitcoin has limited volume,yes bitcoin ithe highest valued coins as of now..but remember theres no permanent in this world.theres a situation that will come and wont be managed by this great coin and will lead for the outdated.so what we do now is wait for the right time.
Bitcoin is going 9yrs old, so far no alts surpasses Bitcoin. For 9yrs it remains the king. While Bitcoin is going down, no alts remains strong. All alts are crashing too. This is the best indication that Bitcoin has no replacement.
It is only the king because it was the first one, I think. The code is outdated, transaction commissions are over the top, lots of other issues etc. But I see it remaining the equivalent of gold in crypto world for quite a while.
must be admitted bitcoin is a very sophisticated technology with unquestionable security
now with a high bitcoin price it is unlikely that bitcoin will be expired by another currency
I can not say no ... becouse nothing is impossible in this world.
now with a high bitcoin price it is unlikely that bitcoin will be expired by another currency
I can not say no ... becouse nothing is impossible in this world.
At present, I don't think that any other coin would beat bitcoin, but there are a few good coins that have got a very bright future such as Neo.
Bitcoin is already being outdated by other cryptocurrencies, even Ethereum was a generational improvement on Bitcoin. However, as we all know, the best isn't always the most successful, and bitcoin is clearly the most successful. However, modern cryptos such as ADA and EOS could possibly overthrow bitcoin if they manage to gain significant traction and partnerships, this is because they have much more potential outside of just being a payment system.
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
Bitcoin is going 9yrs old, so far no alts surpasses Bitcoin. For 9yrs it remains the king. While Bitcoin is going down, no alts remains strong. All alts are crashing too. This is the best indication that Bitcoin has no replacement.
I don't find any similarities between BTC and social networks and I don't think this is the case. But the important thing now is that people should not consider Bitcoin as a property. We can see this attitude through governments implementing taxes on storing cryptocurrencies and through people buying and selling BTC like crazy. All of this lead big leaps in prices and high volatility. If people want Bitcoin to be a currency they should stop treating it like something else.
Bitcoin is simple, and that's what people like. People want to store value, move value back and forth, and if possible, at low cost. Altcoins have been offering all sorts of gimmick features throughout the years, but 95% of the people aren't interested in using these features at all, which once again points out that it there is no such a thing as Bitcoin being outdated.
Another aspect I see people complain about, is that Bitcoin's transaction fees are so expensive while altcoin fees are so insanely low. Roger Ver did that too, and he even made fun of Bitcoin various times in his streams as well. People should understand that the only reason altcoins are able to offer cheap transaction fees is because barely anyone is using their networks. High fees = high demand for block space. Low fees, or even no fees = low to no demand for block space (ie, coin is practically redundant). While I don't like altcoins, I do like their presence and the global interest in them. It's impossible to point out exactly, but the altcoin market makes sure a very large number of Bitcoins are taken out of direct circulation, and that makes sure there will only be more coin scarcity in the coming years. In other words, booming altcoin market is great for Bitcoin as well.
Another aspect I see people complain about, is that Bitcoin's transaction fees are so expensive while altcoin fees are so insanely low. Roger Ver did that too, and he even made fun of Bitcoin various times in his streams as well. People should understand that the only reason altcoins are able to offer cheap transaction fees is because barely anyone is using their networks. High fees = high demand for block space. Low fees, or even no fees = low to no demand for block space (ie, coin is practically redundant). While I don't like altcoins, I do like their presence and the global interest in them. It's impossible to point out exactly, but the altcoin market makes sure a very large number of Bitcoins are taken out of direct circulation, and that makes sure there will only be more coin scarcity in the coming years. In other words, booming altcoin market is great for Bitcoin as well.
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 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.
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