Bitcoin Forum

Oke so Bitcoin always had the highest price, because I think it was the first cryptocurrency.
that is why it's still the best coin, and Bitcoin is actually still very young.
Only 6 years old if you compare it to Litecoin it is only 4 years old.

All the other "300" altcoins are the same as Bitcoin, But they are still, all different from each other.
And they all add the newest features and try to become the best I think, but bitcoin can also still evolve from this.
It is like a whole family of coins and bitcoin is like the mother and father. 
But my questions are:

What innovation has a Altcoin to bring, to beat bitcoin? Or maybe bitcoin cant ever lose to another cryptocurrency?
Could a government or bank create a coin, and hype it with the MSM and beat bitcoin?
Or maybe bitcoin cant ever lose to another cryptocurrency?
Will there be a new online currency in the future? 
Maybe a new code which is way better then Bitcoin, think of Nano computers what will that change.
Lots of questions I know, but I hope it will bring some interesting discussions!
 
 

https://i.imgur.com/87zAFA4.png

Start with beating this.

the two main reasons for the bitcoin price

1. difficulty.. which means it costs alot of electric and equipment to produce so this makes the supply cost high
2. useability. the short and curlies of it is that shops accept bitcoin (atleast 100,000 places accept it) - this is the demand side of it.

so even if you had 500,000 shops accepting an altcoin, the price would still remain as low as it costs to create, and how much supply there is.

so step one is to get an alt usable and make people want it. the more they want it the more they will try to get it. which will cause a demand rise. which will then cause people to want to make people invest more into mining it, which will raise the cost of production which will raise the price.

it doesnt matter if there was only a 10.5mill coin limit and the block reward was only 12.5 coins, if it only takes 1ghash to mine a block. (under $1 electric/block), the price per coin would be under 8cent

Never ask if Bitcoin will have threatening competition

Believe that it won't. We don't need a non believer.

To be honest I don't think that bitcoin will ever be "Beaten" by an altcoin because the concept just doesn't make sense IMO.
Every single alt-coin is based off Bitcoin and therefore is prone to the short-comings that bitcoin has and it is only reactionary to the upgrades/updates that bitcoin makes.

In other words, alt-coins will remain alt-coins and bitcoin will remain king, period.

you can't do anything to beat bitcoin,just follow the popular of bitcoin,its advantage.

To answer some of your questions:

What innovation has a Altcoin to bring, to beat bitcoin? Or maybe bitcoin cant ever lose to another cryptocurrency?
- Higher demand than bitcoin already has / Higher value than bitcoin with less time mining each coin compared to bitcoin.

Or maybe bitcoin cant ever lose to another cryptocurrency?
- That will also be my guess as I see hardly any other coin could beat bitcoin for the obvious reasons

Will there be a new online currency in the future?
- I believe so and as i' typing this, some are getting developed from scratch

Bitcoin can't ever be beaten. From those words it should be clear that the reason why it shall never be is that because of people contiously supporting the growth of bitcoin. People believes in the potential of bitcoin. We can never erase the thought that there will always be anoher cryptocurrency tho, but then, it shouldn't be taken as a competition to bitcoin. Bitcoin is bitcoin and that is that.

Most Alt coins are pre-mined to benefit the creators, and this should not be the case. You do not create a Alt coin to make a quick fortune, when you dump the pre-mined coins.

We also have a huge developer base out there, that support the development side of things. Bitcoin can add or remove features to stay on top of any innovation out there, if it is needed.

Nope, 42Coin has a higher price than Bitcoin.

No, being the best coin has virtually nothing to do with its price, and everything with its usability, level of trust, size of network, acceptance rate, community, market maturity, and the whole eco system of products and services around it. In terms of all these factors, Bitcoin is much, much bigger by far than any other coin (or all other coins combined, even).

Why does an altcoin have to 'beat' Bitcoin? What's the point?

But to answer the question: it would need to surpass Bitcoin in the criteria I mentioned above.

Most definitely not, as this is in no way comparable to Bitcoin.

Banks have already created a coin: the Euro, the Dollar, the Pound, the Yen, et cetera. They have been hyping it for decades. However this is not a cryptocurrency, and any 'bank owned/controlled' coin is by definition not a cryptocurrency but just another kind of fiat money.

The whole idea of cryptocurrency is that it derives its trust and independency from being decentralized (P2P) and based on open source cryptography. Thus, NOT owned or controlled by anyone (especially not a bank or government).

That may be true but is completely bullshit at the same time. Ofcourse a coin with only 42 coins ever will have a higher price than something with 21 million coins, of which 2/3 is already mined..

Nobdy is using or buying 42Coin, therefore price of that is completely irrelevant as an argument that there is a coin with a higher price. It should always be compared to total circulating coins, thus marketcap, which is nowhere near bitcoin.

Unless something really bad happens to Bitcoin, this isn't going to happen. Altcoins are a nuisance at best. The only people who really believe that this could happen are people who are invested in them (i.e. biased opinion).

Of course, I fully agree, just meant to make a point that the price of a coin is completely irrelevant.

If Bitcoin just so happened to be created with a limit of 21 trillion instead of 21 million, the price per bitcoin would have been a million times lower, while Bitcoin itself would be exactly as successful and 'good' (in context of this topic) and valuable and everything.

Bitcoin is a start. Maybe it will be displaced in the future.

Hehehehe.  Noice noice, very noice.

http://www.newscinema.it/wp-content/uploads/2012/02/Russell_Crowe.jpg

and we don't need another clone of it

surely if we want to beat bitcoin you need a new coin that is revolutionary like bitcoin was in its prime

but no one will leave bitcoin so easily, because tons of money are involved already and there will be only a big loss

just wait for the power wars to begin .....not that long ,you can see it if you observe .. forum and reddit. :)

You would have to convince the miners to stop mining Bitcoin, but mine your Altcoin.
That is one scenario, that seems realistic to me, but that might also destroy confidence in cryptocurrencies in general and not just Bitcoin, which would also hurt your Altcoin.

Another scenario might be if a well known player, like Apple or Google make a coin and gives it out to their userbase with just an update of their OS. I am not sure, how that would turn out.

I love Bitcoin, but anyone who thinks it can't be beaten is dangerously deluded.

Top dog never stays top dog forever.

Fact of life.

That is right.But the top dog can stay on top for a very long long time!! ;)
Furthermore if there would be anything out there which could have beaten Bitcoin it would have already happened.So far there is nothing for the moment and maybe for the next several decades which can do so.Bitcoin as open source will/should always try evolve as the markets demand it.If not people will choose other options.

Bitcoin will need to improve to stay a top dog. In the present time, I think that Bitcoin will stay easily at the top even without improving. Crypto user base is not big enough and even Bitcoin struggles to be recognized and to gain trust of the world, and not some other alt coin out there. I mean look at Ethereum, NXT and Bitshares the last 10 days. Complete dumping.

This above might change in the future. As Bitcoin starts gaining trust, other alts will also be given a chance. And this is where Bitcoin will have to step up the game.

I see no problem though as many people claim that pretty much everything can be added to the Bitcoin that other alts have already developed. I hope this is right!

I gotta tell you that if people dedicate their efforts, time and strength to upgrade, promote and expand bitcoin we would be living in bitcoin world right now. I it painful to see that people driven by greed or other low emotions would create another altshitcoin to pump and dump. Instead of making our world better.

Thanks guys I already learned some new things from this topic!

!

I agree on this, only do you think Litecoin came out because he thought he could get rich with a new Altcoin? while Bitcoin wasnt even that big yet?
I think indeed alot of altcoins try to make money fastest way possible, but aren't there altcoins with good intentions?
I mean some altcoins bring new people to Bitcoin, that maybe never heard of bitcoin at all!
Because if you want to buy Altcoins, you have to buy Bitcoins First.
And isn't that a good thing?

Well it's hard to beat bitcoin, it's have a huge market on cryptocurrency, the demand is increased recently. because this is the first cryptocurrency, more famous, more valuable, more adopter coming.

I'm sure people will not know altcoin before know bitcoin first.