Bitcoin Forum

The alt threads are full of people looking for the next Bitcoin and developers trying to create the next bitcoin. Why are so many people looking for the next Bitcoin? What's wrong with the one we have now?

There's nothing wrong with Bitcoin. People are just hoping to make a fast buck.

In the point of view of most of people that post in the altcoin section, the major problem is they lost the opportunity to become millionaire with only a couple of $ and some time doing faucets or begging some coins.


They do it because they want to become rich too

Nothing really, the concerns that are essentially Bitcoin are the issues of non-refunds if you make a mistake
Advanced decentrailized autonomous independent of a controlled stock
And more advanced features that are not easy to implement when their are a lot of users without forking.
(Risk of breaking bitcoin scares etc)

They missed bitcoin train at the end of 2013, and want to get rich using same method like bitcoin bubble.
So they create altcoin, which many of them is crap coin, nothing new and only pump-dump coin.
And they promote it everywhere, telling another people this coin will make you rich, price will skyrocketing, to the moon and many more :D
They instamine or collect as many as coin at launching date, and dump it if that coin have decent price
They get profit, and create another crapcoin :D

Better condition if that altcoin have unique feature and innovation, better than bitcoin feature.
But back again, many of it just want quick rich scheme

The altcoin scene is starting to remind me of penny stocks where nobody makes any money except those touting the stock.

there is no the next bitcoin for a while now and bitcoin still much better than altcoin in terms stability of price

I'm privy to one such project.  :-X

There's nothing wrong with Bitcoin?
The Bitcoin fees are too high for micro-transactions, perhaps there should be at least 3 standard minimum fees based on the transaction amounts.
Bitcoin has other issues, but it's really good for a first attempt.


People are just hoping to make a fast buck.
In many cases that is true, but there is nothing wrong with a profit motive, especially if they somehow provide unique value to the consumer.

Even the bitcoin price has dropped a lot. We cant use the price to weigh all of the cryptocurrencies. I think there are some real good altcoins out there, which can be applied in our life. I am not saying bitcoin is not good. But we cant ignore the fact that some altcoins provide some features Bitcoin don't have and is our required supplement. 

Alt coin users wants to experience the Bitcoin "gold rush"  ::)

The creators of MANY of these Alt coins, do it for a pump n dump move.... {Not all of them} Look for the Alt's where pre-mining was done.

They stand on the side, screaming ....... "Show me the money!!!!!!"

I think they just want to create a new alt coin in the name of Bitcoin so that can asstract more attention.

Pump dump coins that live a few months?

last time i checked that section, the only thing that i see are scammer dev running hidden code to steal bitcoin to poor newbie, i don't think many of them are looking to create the new bitcoin, they are there for a quick book, or quick dump if you want to call it with a more suited term...

Greed. They want to be first in line for the next coin "going to the moon."

it is just the clone of bitcoin without any change! Ppl are getting fed up with them, which will die soon!

- slow
- hybries
- more and more centralised
- bad distribution
- bad image
- large blockchain
- high inflation
- cult-like following  

To name a few things that are wrong with bitcoin. There is great opportunity in altcoins in the years to come imo.

No need to make more and more alt coins ,It's just a copy and paste by the way.

Because people are making change their thinking.

Which is not true. There are more than enough altcoins that were built from scratch and represent real innovation. In fact less and less altcoins are brainless c/p.

Yup, Greed is the cause of this problem. They use all means to acquire more wealth and more

There s nothing wrong with the one we have not.

They do not try to recreate the next BTC but they try to recreate the way early BTC adopters made their money.

They probably can't afford to buy bitcoin at the current price & want some cheap, nasty altcoin to be the next big thing (which it clearly won't).

Cryptonote coins such as Monero is not a copy and paste. It is anonymous coins, less traceable than bitcoin.

Well of course there will be a more improved version of Bitcoin, but Bitcoin is still our classic standard!  ;)

yeah, most of altcoin done like that anyway :D
the winners are devs and many users who bought that coin at first and sell it at the right time
IPO / ICO coins even worse :( the devs run with IPO coin, sometimes even before the coin launched. Too bad for many greed people who invest in such coins
yeah agree If new coin feature just like another coin before, but if new coin give us new and unique feature, maybe it's better than bitcoin in the future :)

at this point the next altcoin doesn't stand a chance. even if it offers really solid features. people and investors are only interested in bitcoin.

Indeed, the only thing that would come to mind why people would want another coin is the PoW and PoS difference that BTC doesn't have, other than that I don't think people will value altcoins more cause the PoW of BTC is so high nowadays that it literally gives value to BTC just because of that.

yeah ok, but the "base of it" is still a clone, b esides the anon features, which will come to bitcoin too in a different approch and maybe will be better also, monero does not offer anything new

but i still like monero(not the name though...) because it's less crap than the rest, i can give you this

they can wait a long time  ;D

maybe they should invest their time and learn more about BTC

And you think that if we create something else, for example bitcoin 2.0 it will be totally flawless and free from imperfections? I doubt it, because bitcoin is pretty much great but there are problem with people who twist and bend its image. If we create decentralised coin with the possibility of free mining - there is 100% chance that there will be specialised mining farms hence centralisation could happen. Bitcoin is not slow, it is just confirmation times which can be longer than instant. And bad image is not problem with bitcoin but with people who are using it.

You won't find the next bitcoin until this bitcoin is sucessful!

Most are looking to make money off it quickly, developers included. Bitcoin does have some features that could be improved: transaction time and scaling, but I do not think any alt coin improves on that.

Or unsuccessful!
There is a possibility that in future Bitcoin won't offer enough security and privacy and people will turn to something more advanced.

Bitcoin shills in one thread  :D

There are to reasons:
1. bitcoin is not perfect, some people believe they can create much better currency.
2. some people just want to earn money through altcoin.

Yeah, like others already pointed out: People hope that their coin is the coin that succeeds, because the developers often have "premined" a certain amount of coins for themselves, or start mining when the difficulty is still incredibly low. That way they can initiate a "pump and dump" where they make some money for nothing, basically. Those coins aren't better than Bitcoin, actually...

People and developers have been looking for the next Bitcoin Ad nauseam.  Instead of trying to see if the grass is greener on the other side, try to make things work with the best and the original.

Here's what the the most recent Altcoin developer had to say on the state of Crypto:

https://www.youtube.com/watch?v=cIasr2AiyZ0

most alts are full of scamming, pump and dumps, crazy promises, premines, scammy icos and coin thefts.

unfortunately for the alt community even the fairest coins have gone to the waste side (price wise)

its quite clear people are not highly interested in alt currencies in the long run, just for the quick profit and move on to the next.

if the whales are no longer holding large sums of bitcoin, magically then a new bitcoin 2.0 will rise out of nowhere.  and we will all be alt bag holders like the rest of them

This. People wanna make a fast buck from the booming of new alts.
The problem is when the new alts coming there's almost the end with no one use it again.
Not like bitcoin that still have the price.
The circyle like : New alts -> booming with high prices -> people sold it -> go down -> the end.
Like this and thats why another alts cant beat Bitcoin.

Are you actually surprised to find a lot of people who like Bitcoin in a Bitcoin Discussion thread? Really?

All those clueless guys think the analogy of BTC being "Napster" and then waiting for the next Bitorrent to invest and make millions make me laugh. They are missing the completely.

ALL alts are alts for a reason: They are cheap BTC knockoffs, except a few.

there wont be the next bitcoin because most probably such success can happen to only one cryptocurrency

Like any two polarised groups (i.e. Altcoin vs Bitcoin) the truth is usually somewhere in the middle. While I think we all need to focus on one coin as the main digital currency Altcoins have some hope for a few reasons. Firstly the world is not just one currency however strong the dollar is it has competing currencies which adds balance. Secondly its a valid argument that with Bitcoin with a market cap of a few billion the decision to whether Bitcoin will be the 'King' of digital currencies is in its infancy. If some alt coin for example manages to break the mainstream then in a short time Bitcoin could look obsolete, google coin, FB coin anyone? (hopefully not but they do have the upper hand in terms of ability to break the mainstream). There are others I could give but you get my point.

But the big mistake Bitcoin Bros make is that some new alts aren't really coins and aren't competing with Bitcoin, they are actually tokens for a system giving it the ability to become decentralised. One I believe in is Getgems which has the ability to decentralise social media.

https://itunes.apple.com/us/app/telegram-bitcoin-getgems-messenger/id942306232?mt=8

Sorry dude, you missed out on the one and only bitcoin. There will be no others. Sorry to burst your bubble!

What if the chat app gets a million users? (not uncommon to many chat apps)

A million brand new holders of a digital token?

Still. BTC has the market cap. It wont be easy to just take it from BTC. Don't get me wrong. Its possible, just highly unlikely.

Your not getting it, A million people holding a digital currency, how many holders of Bitcoin are their really? A million or three?

And also don't get me wrong Bitcoin is also helped as the wallet contains a bitcoin wallet. Users are EVERYTHING to a currency. Imagine just fro example Whatsapp users was the same system as Gems with the same amount of users then Bitcoin would look like like a second rate altcoin in comparison. We are talking 100 billion plus value. No one is saying Gems could become Whatsapp but even a few hundred thousand users would make a mockery of NXT etc overnight that have a user base of I suspect 10,000 max.


Plus no one is late to the party IF bitcoin is to become anything more than a niche geek project. You don't have a global currency valued at 3 billion dollars, (rolls eyes) Bitcoin IF it does half of what people think it will do then price wise its peanuts still.

First answer and nailed it 100% :D
When you don't know what it is about, its about money :P

Dumb and simplistic.

Many new projects are not really coins but tokens, so you are really buying a stake in the success of the company. And here's the thing, many are based on the blockchain and the success of Bitcoin so to be against them is to say the blockchain has no purpose.

that is true.. but where is LTC today? :D

Agree. And I do actually think that 99% of alt coins are a pure joke however thats the penalty for freedom, i.e. people also do stupid stuff, morally questionable and outright scams but anyone who loves freedom has to take the rough with the smooth. But good stuff rises to the surface in the end and like you say being blinkered into one way of thinking only means you miss opportunities.

I don't think any pure coin has a chance against Bitcoin. The projects to look out for are not Bitcoin rivals but projects that will grow due to the success of Bitcoin and the blockchain tech.

I think that is spot on. Look for businesses serving the bitcoin economy and other uses for the blockchain.

+100 for both of you guys!

Also known as pumping and dumping.  :'(

Because they want earn a big profit using pump and dump. This is the method where you can earn big profit by buying altcoins in low price then wait for a few days and sell it again with high price. Thats is pump and dump

shadowcash is the future

Nothing in this world is perfect and as in the case of bitcoin we are still trying to overcome the flaws. Since it's open source there's no stopping anybody on trying to create a new coin that solve all the problems. But perhaps the biggest agenda on their mind nevertheless is still money and control. And a successful coin is definitely what matters.