Would Bitcoin become irrelevant or remain the King?

carlisle1

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

Bitcoin will never become irrelevant thats for sure as blockchain is the best technology EVER made.

But lets give the benefits of the doubt,if ever bitcoin become irrelevant doesnt mean the value will drops badly,this is the most popular cryptocurrency and we can’t take a fact that we will use this currency even how many comes out

drachman

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

Those are not the only options, there is a third option in which bitcoin is no longer the leading coin in the market but it is still relevant, however I find that option to be very unlikely and the same is true for the option that you give in which bitcoin becomes irrelevant, bitcoin created this market out of nowhere and only a coin that is many times superior to it could take away its place and I do not see any coin like that.

fasdorcas

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Why would it be just those two options? Does it have to be the king or become irrelevant, is the drop looking that bad for the future ? I mean maybe one day bitcoin and crypto all will prevail from this awful bear year and it all goes up however ethereum goes up higher and takes the number one spot from bitcoin ?

Bitcoin would become say 30 thousand dollars while ethereum is 20 thousand dollars (higher marketcap because of the volume), that doesn't mean bitcoin is irrelevant at all, that means bitcoin is still amazing and doing very well but people would decide that ethereum is just much better and become the king. There are a lot of in between areas for bitcoin to be in aside from king or bust, it can be 10th biggest coin one day, that wouldn't make it irrelevant neither.

Herbert2020

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Quote from: buwaytress on December 01, 2018, 11:44:10 AM

Quote from: South Park on December 01, 2018, 11:02:59 AM

Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

It is not as simple, bitcoin is not only a technology it is also a currency and one of the more important things a currency needs is the trust of the people, if it was not for the trust people have in the US dollar it would have crashed a very long time ago, people trust in bitcoin a lot more than in all the other coins put together so the chances it will become irrelevant are low.

Remember when the sentiment fell after 2014 amd then for the next 2 years when it seemed the dream was over? The argument then was all about "blockchain not Bitcoin". Then we saw the flight of frenzy with altcoins and platforms for dapps, all with superior tech, scalability, tps, etc.

Then 2017 came along and showed, after all, Bitcoin had not become irrelevant. Far from that. It introduced the tech to the masses, sure. But it's uniqueness as a currency, as a new form of money... That's never going to grow old in our lifetime.

you can't call others such as DApps,... as "superior technology" to bitcoin because it is not the same thing, it is a different technology designed to do a different thing. bitcoin is a currency and the reason why it is staying on top is because despite what people like OP think it is still the best decentralized payment system out there.

Clark05

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In the next few years bitcoin remain king and for sure it will recover again and back to the highest price and we will be happy for sure because we earn more money again. We need to trust again to the bitcoin and everyone will get benefits from the bitcoin.

buwaytress

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Quote from: South Park on December 01, 2018, 11:02:59 AM

Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

It is not as simple, bitcoin is not only a technology it is also a currency and one of the more important things a currency needs is the trust of the people, if it was not for the trust people have in the US dollar it would have crashed a very long time ago, people trust in bitcoin a lot more than in all the other coins put together so the chances it will become irrelevant are low.

Remember when the sentiment fell after 2014 amd then for the next 2 years when it seemed the dream was over? The argument then was all about "blockchain not Bitcoin". Then we saw the flight of frenzy with altcoins and platforms for dapps, all with superior tech, scalability, tps, etc.

Then 2017 came along and showed, after all, Bitcoin had not become irrelevant. Far from that. It introduced the tech to the masses, sure. But it's uniqueness as a currency, as a new form of money... That's never going to grow old in our lifetime.

South Park

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

It is not as simple, bitcoin is not only a technology it is also a currency and one of the more important things a currency needs is the trust of the people, if it was not for the trust people have in the US dollar it would have crashed a very long time ago, people trust in bitcoin a lot more than in all the other coins put together so the chances it will become irrelevant are low.

gabmen

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Quote from: joshv06 on November 27, 2018, 08:55:24 AM

Quote from: rjsmith on November 27, 2018, 08:21:47 AM

Bitcoin can never become irrelevant ad challenges are bound to happen.bitcoin was the first and original cryptocurrency.i think bitcoin opened the doors to a whole new world of digital possibilities.

Yes Bitcoin is the king of crypto world and it will not become irrelevant because BTC has been recognized and globally accepted by more countries. It is being used as alternate to currency in few countries and few countries have BTC ATM which shows the positive acceptance of bitcoin across the world. So the king of crypto will always be Bitcoin!!

Again when it comes to what will happen and the future of bitcoin, we can't tell for sure. Like this crash that's happening right now. I am one with you with optimistic views for bitcoin but things happen dudes.

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

This decline in prices is due to the manipulation of very intentional elements. I think you can find readings in many threads in this forum about what happened in the last few days. for problems not relevant, I think that is your own opinion, because bitcoin remains binding on the market to date.

joshv06

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Quote from: rjsmith on November 27, 2018, 08:21:47 AM

Bitcoin can never become irrelevant ad challenges are bound to happen.bitcoin was the first and original cryptocurrency.i think bitcoin opened the doors to a whole new world of digital possibilities.

Yes Bitcoin is the king of crypto world and it will not become irrelevant because BTC has been recognized and globally accepted by more countries. It is being used as alternate to currency in few countries and few countries have BTC ATM which shows the positive acceptance of bitcoin across the world. So the king of crypto will always be Bitcoin!!

rjsmith

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Bitcoin can never become irrelevant ad challenges are bound to happen.bitcoin was the first and original cryptocurrency.i think bitcoin opened the doors to a whole new world of digital possibilities.

Serious Miner

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No there is no chance to be irrelevant in the future bitcoin is a popular alternative digital currency it plays a vital role in making payment for different types of transactions. Bitcoin will remain the king whatever the situation is it really doesn't matter bitcoin will fight back soon just be patients and hold guys.

sinkfish

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eventually bitcoin will be thing of the past. that will be another 20-30 years at least. for now bitcoin still be king.

Herbert2020

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the main problem with people like OP is that they are brainwashed by the altcoin advertisements. they keep blaming the hardcore bitcoiners who are blind to everything else while they are blinded themselves. and meanwhile the same altcoins that have brainwashed them have zero innovation! they have changed a bunch of small things to create their altcoin and then pretend to be better Cheesy

Naughty Princess

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Quote from: oppasong on November 21, 2018, 11:53:00 PM

bitcoin does not mean that it is not risky, but basically bitcoin is decentralized so what happens now with the price of bitcoin is decreasing every time everyone thinks that bitcoin is not useful but we have to look positively about the crypto world.

I agree. Bitcoin is remain popular and king even it falls really hard, the price remain expensive among other coins. I believe that it is useful to hold and look positively that cheaper price is an opportunity to have more volume. I believe that it would recover soon and bullish in the market again.

Vickyrichy

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

I believe you basically don't understand how Bitcoin operates. PLease you need to read the whitepaper of Bitcoin, with that you will understand some basic concept. Bitcoin goes beyond its market value. Don't be worry about the drop of its market value, its just a phrase of Bitcoin's transformation.

Andam76

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bitcoin will still be the parent of Cryptocurrency ... the current decline in bitcoin prices does not mean that bitcoin is irrelevant ... in the crypto world prices are fluctuating so there is nothing to worry about it

jhanson

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the future is uncertain and I do see bitcoin falling. however value is determined by scarcity and demand. Does that mean btc is going anywhere? don't think so imo

Bountyhonter

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Bitcoin will still remain the king of Cryptocurrencies, everything has it's own problem it's left for you as an individual to decide if you think it's use overweighs it's problem or not

FedorIzmailov

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nothing will happen because bitcoin will be supported and in the future it will develop and conquer new heights

GoodAltcoin

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There is no way that BitCoin will ever be irrelevant. It will always be the primal and crypto that others are compared to. It is completely understandable that the newer crypts have other benefits and that are technically better, but it is the fact that none of them will have the impact BitCoin has. It will never be another crypto that will be spread and has influence as BitCoin.

Sandus_Cryptolover

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Bitcoin surely will still remain as it is the standard to which all altcoins will be referenced to unless there's a means of buying altcoins via fiat and vice versa without going though Bitcoin.

SoiledDove

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I've been doing a bit of reading around. Bitcoin was the first and original cryptocurrency. Although it improves with every update, it still has a way to go to evolve to being what as cryptocurrency truly is. We have to way till the cryptocurrency evolves to being the currency it was truly meant to be. Faster, smoother and more user friendly. And this will happen. It's happening.

kaisa

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Talking about algorithms will never be finished because technology will always develop. Moreover, technology created as financial services. then it must renew security at any time. I agree to renew the bitcoin core, though in principle it must be maintained. Hardfork is not the solution to renewing technology, because they are very different and have other interests. I think no one can shift bitcoin as the most popular cryptocurrency because bitcoin still has a large community.

PeRo

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Not one currency has ever come even close to taking Bitcoins place and you think that Bitcoin will become irrelevant? Try tracking the price of the whole market, you will see that when Bitcoins price falls, every other cryptocutrency will fall in price. Also, the fall in price is irrelevant because the whole cryptoccurency market recently fell in price.

mrcash02

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There is a constant attempt to make Bitcoin look irrelevant, but these attempts always fail miserably. When BTC falls, the whole market falls, so Bitcoin isn't losing price because another currency is rising and becoming the favorite one. Maybe some developers think they can defeat Bitcoin this way, dumping BTC and pumping their AltCoins, but it never really happens.

And I believe it will continue this way for a long time yet. Bitcoin is King and even not being perfect it has plenty conditions to rule the market with excellence, providing an awesome experience for all its users.

earlytrade24

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Quote from: jrrsparkles on November 22, 2018, 07:11:26 AM

Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

If you see that the price of other coins were more when compared with the price of bitcoin which is a sign that bitcoin is still king at this long bearish run.Most of the projects were just copying the idea of already existing coins so which may not bring anything new here even if some coins were created it will not be so easy to get recognized as bitcoin and taking its crown.

It is already recognized the bitcoin is the pioneer of cryptos, but saying that new projects may not bring anything new is unfounded. If you carefully read the whitepaper and even articles about new exchanges, you will be surprised to discover how much these alternative cryptos can offer. Didn’t cryptos rise initially as free market tools? The Virie Market, for example, offers a distributed exchange network with escrow system. It can actually represent the new generation of what bitcoin started. I think Bitcoin opened the doors to a whole new world of digital possibilities.

RondoAnyar

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I see the potential of bitcoin to remain high and bitcoin can become the king of crypto coins. so no other words than bitcoin still has the potential to grow high in crypto

baghdatis1990

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I think Bitcoin's problem would be to always cost over $ 20-30K. No one could invest in Bitcoin at those permanent prices. Bitcoin has no problems. Bitcoin crosses a normal stage. It's a whale marketing strategy. Bitcoin's story clearly shows us this. The previous bearish market is much worse than what we see now and yet people have not abandoned the bitcoin. BTC is a well decentralized currency and will not die so easily.

PlusOne88

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It is not just about algorithm, it is not about how great bitcoin is. It is how useful bitcoin can be. That is all that matters as much. Consider a very good coin and name them, there are too many having just the same function or use as bitcoin, but who uses it? Without usage or a real application it will become useless. Relevance would only count on these ideas.

enhu

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None of these coins solve the adoption problem, they compete to its perfection but I think the biggest problem is its utility which I believed solve by platforms already. Bitcoin still can remain king because of its limited supply and widely known everywhere that when people think of crypto its bitcoin that comes in mind. It will be the king still even when confirmation could take hours.

bolbau

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bitcoin will still be the best at its function. even if there are new coins that offer better technology, it is not a setback. this is a good sign that more and more people are interested in developing blockchain technology in crypto. bitcoin is a reference because it is the first digital coin found. and I think people will still believe in bitcoin at any time.

HODL2090

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There is of course always room for improvements, considering the wealth of experience and expertise in the cryptocurrency sector.
Bitcoin has a clear lead at the moment. And it can still be improved, same with other technologies. I don't see Bitcoin becoming irrelevant in the near future, or distant future to that effect.

reynald70

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I think Bitcoin will continue to be king at any time, because BItcoin is the first digital coin to experience great success, so many other Altcoins are following it, and the current Bitcoin price is decreasing is normal, because we know the price of Bitcoin from first listed in the price exchange market is always up and down, so I still have a positive outlook on Bitcoin.

Olayinka225

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I see bitcoin becoming just an investment soon because I can see many other altcoins trying to overtake bitcoin. More and more coins are on the way to replace bitcoin power.

SixOfFive

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Everything has to end one day. The same applies to Bitcoin too. That being said, I think Bitcoin will still remain the king of the cryptocurrency market and is not going to end anytime soon. I know it has many problems but it enjoys strong support of its community. The Bitcoin enjoys the faith of the investors and has maintained its first position since its launch. I don’t think it will be easy to dethrone Bitcoin from its position.

pacman7331

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Nothing is 100% accurate or problem free so bitcoin also have some problem but this is not a big deal because bitcoin has a lot of advantages and positive sides where its minor problem is not countable. So there is no chance to be irrelevant but it will always be relevant remain the king.

Harkorede

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Bitcoin had already set a pace for which others are following, and so far, none has even come close but, should eventually any coin surpasses bitcoin (Which I find very unlikely, at least not for the nearest future), Still bitcoin wouldn't become irrelevant and will still always be reference point for how the whole cryptocurrency came into play.

Quote

The price drop isn't showing that great either!

As for the price fall, that has nothing to do with bitcoin dying or becoming irrelevant; It is all due to the big players at their game, it will all be over soon.

dmcx

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Quote from: Joeyvicky on November 22, 2018, 10:28:28 AM

In this current falling state of bitcoin there is no competitor and i am very optimistic thaat bitcoin will continue to rule as king of cryptoand nothing or no a;tcoin can render it irrelevant. It the best coinnand still impacting lives.

I believe so. But all positive people with bitcoins are telling each other that bitcoins will die, dropping to 1k. These are the opinions I deem wrong, myths and BTC will prove that it's wrong in early 2019, I believe in Bitcoin Lips sealed

.

Wind_FURY

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Quote from: bitfocus on November 22, 2018, 06:14:58 AM

Bitcoin is the only real crypto, well you can cound on Ethereum, too, but please don't compare them with any alts.

Ethereum is an unscalable network that has not reached, and will never reach its goal as a "world computer". There is not one useful "DAPP" running on it, and there is not one strong and healthy decentralised system created.

Newbies should know this.

Bonheur

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For now bitcoin will still be the king.But in the long run I believe one of the bitcoin forks will take its place.Yes bitcoin is the one that opened the door for so many opportunities but being the prototype means being the one that can be improved.For example I really like bitcore's features and improvements.

FunGate

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Bitcoin will remain the main coin until another one is accepted as a universal currency, which I think will eventually happen.

This coin will have to solve Bitcoin's current problems and those of all other altcoins up until this point-lack of usability, difficult to use, and there is still the risk of getting hacked or being subjected to fraud because we still have to use exchanges.

maianh09

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

Do not worry about these problems, the algorithms need to be perfect if you want Crypto to grow. Bitcoin is invaluable because it is more valuable and more accessible to evaporate than other Altcoin. Every investor is interested in profitability, and they do not care about the perfection of the platform.

ynatopak14

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Bitcoin will remain as the king of cryptocurrency as for now.
It will take a long time to dethrone the king in this community.
But lets compare it to other technology.
We all know that the telephone is the root of telecommunication in this world.
But they we are using it now frequently.
We had the best selling cellphone from NOKIA.
Nokia never had a fault, they didn't do mistakes.
But they are not the king of cellphones now.

Daniel91

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

I don't see such scenario in the close future.
Bitcoin was first, bitcoin is crypto leader and will remain leader for many years.
Of course, 10 or 20 years can be very long period of time, specially on Internet so I don't think that anybody can be sure about distant future, 10 years or more.
I think it's possible that some other currency will replace bitcoin eventually but not so quickly in my opinion.
Almost all crypto currencies have price drop because bitcoin is still main entry point for many new users and when bitcoin price drop they withdraw money not just from btc but also from all other crypto currencies.

jeromix

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I can't figure out really why one will say that bitcoin is irrelevant where in fact the bitcoin has no competition and all other crypto are just an alternative to it. All of the crypto are bitcoin base and you can see this in the market wherr bitcoin market price drop then so does the other crypto in the market.

Joeyvicky

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In this current falling state of bitcoin there is no competitor and i am very optimistic thaat bitcoin will continue to rule as king of cryptoand nothing or no a;tcoin can render it irrelevant. It the best coinnand still impacting lives.

lyks15

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I think bitcoin is still and remain the king even the price is already down. Because all we know that even the price is already fall we can use it to some online payment so it is also help us in our transactions. We can say that bitcoin is still the king because it is relevant as a payment and also it is still a good investment that we can invest. I think we cannot based on the low price to say that bitcoin is now irrelevant because I know and all we know that bitcoin will rise again in the next following months so all of will be benefited again.Just wait and don't be afraid to invest because bitcoin is relevant in our daily life.

Dudeperfect

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See each and every coin has its own philosophy and that's how it works. Bitcoin came up with the solution to the issue of time-consuming costly fund transfer option and enabled users to do the same task in less time and cost. Similarly, there are other coins dealing with a different kind of issues hence I won't compare the two coins in terms of utility value so I don't think any other coin can replace Bitcoin at least in near future.

worldofcoins

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

I can only speak based on the evidence and so far it seems that even if Bitcoin prices are slumped there is no coin whose price is anywhere near Bitcoins, thus to say that if BTC collapses entirely only then BTC will become irrelevant and replaced by its competitors.

jrrsparkles

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

If you see that the price of other coins were more when compared with the price of bitcoin which is a sign that bitcoin is still king at this long bearish run.Most of the projects were just copying the idea of already existing coins so which may not bring anything new here even if some coins were created it will not be so easy to get recognized as bitcoin and taking its crown.

bitfocus

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Bitcoin is the only real crypto, well you can cound on Ethereum, too, but please don't compare them with any alts.

M.Jukey

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Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

According to me BTC is a good decentralized currency..
It still has some little problems but they are not so big to be stopping and not so big to make BTC not relevant.

Moreover, what about altcoins ? They are still in alpha and they are not ready to be really useful (not more than btc)...

low cap and speculation..

blocklancer8

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By becoming a big fan of bitcoin, of course you really understand the existence of bitcoin, both advantages and disadvantages that can arise at any time in bitcoin. In the process, bitcoin is still quite early, but until now it remains an independent digital currency. In the adoption stage, there are certainly problems faced and I am sure this will remain relevant at any time.

Corsicoin

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CryptoSport

Btc will remain the king because it's associated with freedom.
It's not illegal because it depends on what you do with your money!
If you hold bitcoins in your wallet you don't give a shit about people saying it's illegal ^^
Nobody will ever know you own those BTC !

Stac

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Bitcoin never become irrelevant though the current market price is going little down it will recover shortly to its full strength. Bitcoin
is an electronic asset with a strong net work systems connected with the modern technology...Bitcoins features are very attractive to the global investors and it is a decentralized one with anonymity.Its all transactions are recorded in an electronic ledger with the block chain technology..The introduction of the block chain technology is ensuring its clarity and the security systems in order. The invention of he bitcoin is an outstanding one in this century which can change the entire face of the global economy.which is introducing a new form of economy which is contrary to the present economical concepts. The bitcoin originators intention is to provide a strong common currency to the to the global community which can be operated world wide for their daily requirements.. The introduction of bitcoin is quiet relevant. to the global market which can emerge and remain as a king very shortly when the market is turning to a bullish move.

Wind_FURY

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Quote from: OgNasty on November 22, 2018, 02:34:12 AM

Quote from: Pursuer on November 22, 2018, 02:30:22 AM

the big question that nobody asked you is that what makes you think that these altcoins don't have problems?

your argument is basically saying that bitcoin has problems so it can become irrelevant because of some altcoin. but you are forgetting that this altcoins that you have in mind also have problems and actually that is why they have been irrelevant all these years despite all the huge trading volume that goes in to them to pump and dump them.

Ya, most people don’t realize that a vast majority of altcoins don’t scale well. If they were as widely used as Bitcoin, there’s no telling what issues would pop up. I’d point to Ethereum which became bloated and unusable because of some virtual cat trading. Bitcoin is King for a reason.

Plus "blockchains" are a slow database, and will not scale on-chain without centralizing the network. The developers who propose on-chain scaling solutions like "sharding" might be, scamming, lost, or have not accepted reality yet.

Give them time.

munareal

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Bitcoin can never become irrelevant ad challenges are bound to happen. Bitcoin is facing a downtime and will soon rise again. It will ever be the king of cryptocurrencies because it set the space other coins follows.

OgNasty

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Quote from: Pursuer on November 22, 2018, 02:30:22 AM

the big question that nobody asked you is that what makes you think that these altcoins don't have problems?

your argument is basically saying that bitcoin has problems so it can become irrelevant because of some altcoin. but you are forgetting that this altcoins that you have in mind also have problems and actually that is why they have been irrelevant all these years despite all the huge trading volume that goes in to them to pump and dump them.

Ya, most people don’t realize that a vast majority of altcoins don’t scale well. If they were as widely used as Bitcoin, there’s no telling what issues would pop up. I’d point to Ethereum which became bloated and unusable because of some virtual cat trading. Bitcoin is King for a reason.

Pursuer

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Where is my ring of blades...

the big question that nobody asked you is that what makes you think that these altcoins don't have problems?

your argument is basically saying that bitcoin has problems so it can become irrelevant because of some altcoin. but you are forgetting that this altcoins that you have in mind also have problems and actually that is why they have been irrelevant all these years despite all the huge trading volume that goes in to them to pump and dump them.

kelvinspeed

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Quote from: Tamilson on November 21, 2018, 11:41:53 PM

You've already said that you're a big fan, so in short you knew all the important nor the risk of having it, and if the price make you worried then your losing the process.
Every coin has its own problem and bitcoin as an innovative one so problem will surely occur every now and then. What's happening now is just pure manipulation in which whales are accumulating.

Having $4k for its bottom is actually a perfect time to buy.

Exactly because every useful coin must be tasted to know it's strength n value n one such method is economical push n pull on a coin, I also believe that much work n acceptance on bitcoin wont allow it to crash or become irrelevant

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

As others have explained, it has flawed but there's this so called solution - Lightning Network. I advise you to read all about it. When you say bitcoin becomes irrelevant what are your basis? The price? Like going to 0? Or people finding other coins to used either as payment method or SoV (store of value)?

I'm assuming that you're looking at the price for you basis if so then bitcoin would be still be relevant because there's no other coin that even get close to what the price of bitcoin has reached so far. On the contrary it might just be the beginning, the price drop that we witnessed in the past week might be a good indication that the bullish cycle might come to an end and 2019-2020 will the year when the bulls started to get control of the ecosystem again.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

First of all, Bitcoin is not defined by it's price. Secondly, Bitcoin is programmable code and it can be changed with the changing demands of the people. We saw that Bitcoin had some scaling issues and the developers added code to address that issue.

So whatever other people can do, we can do better with a team of highly skilled developers. Bitcoin is the mother of all coins and people should respect that. They would not even exist, if it was not for this ground breaking technology. Wink

kingcolex

sr. member

Activity: 254

Merit: 1258

Bitcoin has something no others could ever truly have something that was incredibly unique, an anonymous leader that stepped away and didn't spend his coins. That's insane to really even try and comprehend, how many of us say sure we wouldn't touch it but to have at times a billion right there and never spend a dime of it? That's wild.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.

"More and more people are trying to perfect their algorithms"? Who are those "people" and what cryptocurrencies are they "perfecting"? Cool

Quote

What if they reach their goals and bitcoin becomes irrelevant?

But Bitcoin has reached its goals and it is reaching more. Most of "them" will never reach their goals. Do you believe Ethereum will be the "world computer"?

Bitcoin is an open, secure, censorship-resistant store of value, and it is provably scarce. It also gives its users the ability to private key ownership, which is an inviolable "property right". More inviolable than stocks, real estate, and gold.

It will always have value.

Quote

The price drop isn't showing that great either!

But what was Bitcoin's price 7 years ago?

Jating

hero member

Activity: 2842

Merit: 772

Quote from: project_delta on November 21, 2018, 11:13:45 PM

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

I think if you're going to look at the previous bearish market, its a lot worst than what we are seeing and yet people didn't abandon bitcoin but they just HODL on it and I'm sure many of them make tons of money in 2017.

If I'm in your shoes, I wouldn't look at the downside as something negative, but take the opportunity to accumulate at this very moment and let your bitcoin sits on your hardware wallet or in your Bitcoin core or Electrum and wait in 2019-2020 and see how your investment goes.

oppasong

full member

Activity: 476

Merit: 100

bitcoin does not mean that it is not risky, but basically bitcoin is decentralized so what happens now with the price of bitcoin is decreasing every time everyone thinks that bitcoin is not useful but we have to look positively about the crypto world.

Tamilson

hero member

Activity: 1022

Merit: 503

You've already said that you're a big fan, so in short you knew all the important nor the risk of having it, and if the price make you worried then your losing the process.
Every coin has its own problem and bitcoin as an innovative one so problem will surely occur every now and then. What's happening now is just pure manipulation in which whales are accumulating.

Having $4k for its bottom is actually a perfect time to buy.

YOSHIE

legendary

Activity: 2128

Merit: 1775

Quote from: project_delta on November 21, 2018, 11:13:45 PM

What if they reach their goals and bitcoin become irrelevant?
The price drop isn't showing that great either!

It has become a risk for the Bitcoin user himself if the price of Bitcoin remains the current price, and people buy at high prices.
But I am sure Bitcoin is the most popular digital currency in the world today and I see every move of the Bitcoin in the price of other coins also moving and vice versa,
well for that I think Bitcoin will not die and continue to prosper all the time waiting for time. positive thinking and focus on investing better.

pooya87

legendary

Activity: 3472

Merit: 10611

bitcoin has problems but it still is a damn good decentralized currency. in other words the benefits and positive sides of bitcoin are a lot more than the problems. that means any problem (which are small ones by the way) are acceptable. as a result bitcoin will remain useful and "relevant".

as for alternatives, so far we have not seen anything that can come close to be useful. they are improving indeed but their problems are much bigger that in their case the problems overshadow the benefits.

project_delta

jr. member

Activity: 98

Merit: 2

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

Topic: Would Bitcoin become irrelevant or remain the King? (Read 869 times)