Will the bitcoin be outdated by another currency? - page 7.

beverly788113

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Quote from: BitHodler on April 04, 2018, 09:34:08 PM

Quote from: orions.belt19 on April 04, 2018, 07:56:04 PM

Others speculate so as well because pf how popular etherium is becoming. Others think that some day will come when etherium will actually surpass bitcoin because of its aspects that are better than bitcoin’s. Some even claim that btcoin will eventually die because of the many altcoins and competition being created. Bitcoin has slowly become outdated because of its high transaction fees and long confirmation times, and people say that this is what would eventually kill bitcoin.

Ethereum's aspects? The only point of usage it enjoys and thrives on is the booming ICO market. If we look at how governments are tightening their regulatory framework, Ethereum might be up for some harsh times.

People have been complaining about Bitcoin for years, but they still are using it because there is no better alternative. If altcoins were really that much better, there would be a shift happening, but there isn't.

Bitcoin is the first of the first and people value that, where the network speaks for itself as well. Altcoins have earned their place in this market, but as a separate lower division. Bitcoin is on top and will remain there until the end.

Absolutely agree with you, altcoin only appears after a bitcoin for a short time, not entirely because of the early appearance of the bitcoin that caused their dominance. People trust bitcoin for their safety, security and security of price

KingdomHearts

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Quote from: cryptocurrencyguru on September 12, 2018, 07:49:08 AM

Bitcoin won't be outdated by any other currency Bitcoin is independent of everything and it can be in competition with no one either fait or any other currency

This may happen and may not because as we go on we meet with new technologies so something other can out-date it. But I see that there is nothing that can compete with the Bitcoin and can overcome it up till now so we have this source of investment as well as payment system. All we need is to use it and get the benefits of it either in the form of savings or simply profit.

Xenoph0bia

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Quote from: Bitcoinbitcoin0909 on September 17, 2018, 11:14:52 AM

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.

There is a possibility but still it would take up a long time before that happens considering the expensive value of bitcoin and the price gap of it with other altcoins. Bitcoin has built it success after a long time of criticism and doubtful minds of the people but still it reigns dominant so it would be hard to outdate bitcoin.

No I don't think so that any other cryptocurrency or altcoin has that much of capability and potential to overtake or out date Bitcoin.Bitcoin is a father of all the cryptocurrencies and it is the most expensive and valuable one in the market.Tt has the highest number of users among all the cryptocurrencies and its demand is also very high in the market.It is the best option for investment purposes in today's date.It is also considered as the future of the currency.

Bitcoinbitcoin0909

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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.

There is a possibility but still it would take up a long time before that happens considering the expensive value of bitcoin and the price gap of it with other altcoins. Bitcoin has built it success after a long time of criticism and doubtful minds of the people but still it reigns dominant so it would be hard to outdate bitcoin.

beverly788113

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Quote from: cleygaux on April 04, 2018, 11:01:11 AM

Another currency or another altcoin? If altcoin then Lets wait for etherium to replace the throne of the king if bitcoin will not implement the lightning network and etherium will in the future successfully feature it Im sure eth will be the next one.

In my opinion, it is very difficult for ETH to beat BTC, if there are a lot of other coin apps that are better than ETH and BTC. However, the difference is that people only believe in bitcoin because their prices are not so volatile

Piggy

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Quote from: angaper on September 15, 2018, 06:51:50 PM

If we compare the technological achievements that we have today with those that were twenty or thirty years ago, we will conclude that everything that at one time we thought was superior and irreplaceable has come to fall into absolesence with the passage of the years. Unfortunately I do not think that the case of blockchain technology happens in a different way, and in fact at this very moment we are witnessing the great enthusiasm that cryptology is generating, stretching the technological limits of new cryptocurrencies to levels really unsuspected a few years ago.

This does not mean that the bitcoin as a store of value or as a long term investment ceases to be convenient or loses its usefulness over the years, but in strictly technological terms it is a fact that sooner or later it will be outdated.

I agree with you here and i would like to show this graph to give an idea about the incrising technological advancements

Going back to the question of the op, truth is we cannot know, it depend also from the changes that bitcoin will undergo in the future.

boynamnhi

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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.

Absolutely correct, bitcoin will never be outdated by other coin makers, many claim that ETH is the penny of the year, but you can see in the past month 8,9 value has dropped many times, maybe bitcoin is the best choice

juperos

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I do not think Bitcoin is obsolete compared to other altcoins. Nowadays, the whales still support Bitcoin a lot and the pump-and-hold event always works the most in BTC. In addition, the number of transactions is highest in the daily market and that shows that trading on the BTC is safe.

BertoloyBTC

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We the supporters of bitcoin will really say that bitcoin will not be outdated by another currency and this is also proven for there are a lot of coin that are attempting to outdated the bitcoin but they are failed because bitcoin as now is still very popular in the cryptoworld as the number one coin in the market place.

wallstone

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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.

Confidently it is a NO. Since bitcoin is the first cryptocurrency that has been made, other cryptocurrency will need to work hard just to surpass the legacy that become has made. It will greatly hard for them, since bitcoin is widely known. Many people are trusted to invest with bitcoin.

Shiversnow

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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.

Clearly the answer is NO. Bitcoin will be the number one in all time. It already build a name and gives trust by the people. It would be in the past years that bitcoin will still remain on top. Other alternate cryptocurrency needs a lot of effort to be like bitcoin.

lendahawkins

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“The Future of Security Tokens”

Bitcoin will be remain top 1, the reasons cause it were the first one and the famous one, but we dont know what it will be in future, i think bitcoin is only use for investing in ico and there is so many new stable coins that are good for transaction. Lets see how bitcoin will be, for now it will remain in top 1 but in 10 years everything could change.

XpanderaX

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Bitcoin is the king of Cryptocurrency, he was born first and has the highest price. I am sure and believe this coin is a coin that will become the leader of Cryptocurrency in a very long time. and I'm sure there won't be any other coins that will be able to beat Bitcoin. Even though there are currently lots of potentially good new coins.

alroys

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Quote from: cryptoblue on April 03, 2018, 12:15:10 PM

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.

if I think NEO will not be able to beat Bitcoin, even if it's for a long time. Bitcoin is king of Crypto and has become a favorite coin for many people. Although bitcoin transfer fees are more expensive and also the speed is not like other coins, but Bitcoin is the first coin that has taken the hearts of Crypto players.

anthonytcm

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Quote from: 1Referee on April 03, 2018, 11:19:58 AM

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.

While I agree with the OP when he says bitcoin will not be outdated by another currency, I don't agree with his analogy. It has more to do with what the user I'm quoting referred to, bitcoin is simple and that's what makes it more attractive. Also the fact that it is more established as THE original crypto, it gives value to newcomers I guess.

Astra2127

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We can say that there is a possibility, maybe yes, maybe no. We are in the modern era now everything is possible, if and if we are just eager enough to do so. People are great immitators, maybe on the next 5,10, or 15 yrs from now, something will change. We'll never know, someone is planning, and will be copying or even revising some about format or system of BTC.

Nakedbitcoin

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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.

As state above, bitcoin is built on confidence, tradition and security, so it will be so hard to be outdated by any crypto currency. The trust is built and is strong. Bitcoin remain the king of crypto world.

cescudero95

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Let me pose this question:

Bitcoin is a decentralized electronic currency. It was the first in this class of technology (block-chain based).

The question is, what example, if any, can you cite that the first version or iteration of a technology was never superseded by another version?

WUUEX79

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Xch4nge.com

Both the principles and concepts I think bitcoin will not be possible can be defeated by other currencies. Besides that payment with bitcoin's easier when compared to credit cards as well as debit cards and bitcoin can be accepted through without a seller account. Bitcoin payments can be made through the wallet application both on your computer and smartphone, just by entering the recipient's address, payment amount, and press send.

angaper

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If we compare the technological achievements that we have today with those that were twenty or thirty years ago, we will conclude that everything that at one time we thought was superior and irreplaceable has come to fall into absolesence with the passage of the years. Unfortunately I do not think that the case of blockchain technology happens in a different way, and in fact at this very moment we are witnessing the great enthusiasm that cryptology is generating, stretching the technological limits of new cryptocurrencies to levels really unsuspected a few years ago.

This does not mean that the bitcoin as a store of value or as a long term investment ceases to be convenient or loses its usefulness over the years, but in strictly technological terms it is a fact that sooner or later it will be outdated.

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