Bitcoin Forum

Based on currently available technologies, which currency do you think will be the #1 currency of the future?

Bitcoin started it all. It has developer, exchange, market and even government support now. However, it has the same problem it has when I stopped trading Bitcoin in 2011 - scaling and transaction problems. 6 years later that still has not been resolved. Even the proposed Segwit2x changes may likely only be a temporary fix and a hard fork to a Bitcoin Classic is sounding more and more likely. I personally think Bitcoin's greatest strength (current gold standard) may doom it in the end, because there is so much money and so many different players involved that getting unanimous consent on changes is impossible.

My personal opinion is that the #1 cryptocurrency of the future needs at least 5 things:
1. Manageable blockchain / alternative that is small enough or capable of working on a smartphone. Any crypto that scales indefinitely will eventually run out of space or become centralized. (Interesting discussion here (https://www.reddit.com/r/Ripple/comments/67pltl/ripple_on_yahoo_news_april_26th/dgsuu7c/))
2. Transaction speed - <=1 min - You can't stand 1hr in line at the grocery store waiting for your purchase to confirm.
3. Transaction number - >10,000-100,000TPS. It basically has to be able to replace your credit card... on a global scale.
4. Secure - unhackable, non-DDOSable. You know... a cryptocurrency.
5. Anonymity - fungibility. Acts like cash. Cannot be traced. This may be very optional as companies may WANT traceability to deal with theft or the possibility of counterfeiting. There may be more than one "best" major cryptos - one that is totally anonymous and one that is traceable.

I know of no single crypto that includes all 5 of these features. Bitcoin has #4. NEM and IOTA may achieve 1, 2, 3 and 4. Cloakcoin can achieve 2, 4 and 5, but will have scalability issues in the future and is not open source, so 5 is in question. Monero achieves 4 and 5, but has major scalability issues.

So here is a list of the top 12 cryptos by market cap. Will Bitcoin prevail? What else do you think has potential? Is there anything out there that can achieve all 5?

Bitcoin! It's like Gold - you have like Platin which is mabye more worth but the standard stays Gold no mater what you do.

My bet goes for Litecoin... We will see this changing August 1st

;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D sure not back to 1,5$

Litecoin is still the best and it has been undervalued for many years. Hope that people will soon see the potential within this coin. You can see, litecoin has a good dev team and not like bitcoin, developers are doing their best for this coin

If you mean gold standard as a value storage, I also see bitcoin as winning it the long term. It just has too much media coverage and popularity outside crypto world to be dethroned any time soon...unless something considerably damaging would happen (even then, I think it can bounce back with time and still keep a leading role).

Maybe we won't buy coffees with BTC, but I'm still using BTC on a weekly basis. There still is a huge usability when buying and selling goods and services that aren't minute-time-sensitive.

We shall live and see.

 

Seeing the current growth and acceptance of various cryptocurrencies, i don't think that any altcoin out there can surpass Bitcoin simply because it is the most accepted cryptocurrency out there. It has shown good rates of growth and it can be gold standard of future.

You can't look further than bitcoin. At the moment it is the coin with the best value, most people get into altcoins as a way to hedge  bitcoin.

A lot of altcoins have some technical difference compared to bitcoin and that is often the reason given for why people invest in them.

Bitcoin is proven as a store of value with proven security. Once it's network issues and transaction fees are sorted. It will become unbeatable.

At the moment bitcoin will not stop to rise and still stay at the top

Bitcoin will always be gold, even if shitcoin can pass it marketcap.

the answer is somewhat clear.
bitcoin may be that coin.
there is no way ethereum comes even close.
LTC has a better chance but the following 6 months will determine if LTC will become a real currency and mass adopted with a shooting price to the moon or will become a dead chikun.
Monero is the best anon coin but these coins will be under a lot of pressure and will face a lot of problems from governments if they gain any popularity.
the rest are mostly jokes to me.

bitcoin block time is 10 minute on average (1 confirmation) and in the past 8 years nobody waited more than 5 seconds then buying something from a physical shop. and there has been 0 reports of fraud from any of the physical shops who accepted bitcoin so far.

and remember if you want to truly be safe you have to wait for more confirmation in other words wait until the transaction is deep. for bitcoin it is 3 for other altcoins it is 10, 50, 100 confirmation. so the same time!

I think None, but if any of these coins has a chance it will be Bitcoin, but I think the demerit of Bitcoin here is the 21 million unless we start to spend Satoshi unit  when 1satoshi equals $1

For something to be a standard, it must first and formost be fair.
You could say:

Bitcoin = Gold
Litecoin = Silver
Monero = Nickel

I voted for bitcoin. I think bitcoin is and will be number one cryptocurrency.
I don't think grocery stores will accept cryptocurrency in near future, and under 1 minute transaction is not possible with large number of transactions.

The answer is pretty obvious,right now it's still Bitcoin and will always be Bitcoin if the current trend continuous, there will be big update on August 1 this is I believe to fix what current bitcoin holders are facing after Bitcoin will continue to hold the number one spot.

I think or I'm sure bitcoin would become the gold standard in the future. Look at its price now for goodness sake out of all the other coins, alternate coins that is.

Litecoin

ETH, cos this is going now: it giving life for new coins like a basic treasure.

Viacoin is going to be much better then litecoin imo. ;D

I don't think the "gold standard" exists yet.

My take is on Ardor with its childchains and smart transactions build onto NXT proven technologies which is 3.5 years old.
https://www.ardorplatform.org/

It only miss point 3 at the moment, it has all the others, but the devs (https://www.jelurida.com) are working on this improvement (point 3) with childchain subnet.

NXT currently does 100tps, it should be note that Ardor will do more than NXT at release since it is an optimize version of NXT. Then now that Ardor has solved the scalability issue concerning the blockchain bloat (point 1), the next objective by the devs will be to push the tps to the higher as possible.

In the end, i'm very confident that the team behind Ardor and Nxt will contribute at lot to the blockchain space.

I invite you to take a look at this very underlooked project.

PS. Some fork of NXT by others did achieved a lot in term of tps (800 tps) in private environment setting by the Russia’s National Settlement Depository:
https://bitcoinmagazine.com/articles/russia-s-national-settlement-depository-successfully-tests-blockchain-based-e-voting-system-1464198071/
Now imagine what Ardor will be able to do.

For those who said, "other" - what other?

Why people always claiming their coin or project going to beat Bitcoin? I mean confident is good but too much confident make ones look stupid?

It will be a platform for ISO, for exchange. Or purses for storing different coins. I make bets on such projects.

Digibyte

Bitcoin for sure, i can guarantee it

I voted for bitcoin it is the first crypto currency and also most of the people knows about bitcoin . Once they familiar with bitcoin then they will look into altcoin . Bitcoin having limit 21 million once it reached then its value automatically increase.

I have two option cryptocurrency that going to be gold eth and bitcoin. I think no other altcoin can beat them in near future.

I'm not sure. Obviously the most likely candidate is going to be bitcoin as it is indeed the number one cryptocurrency ever since cryptos were a thing, and was also the first cryptocurrency that was ever developed.

If you think about it, it really does not matter whether or not your coin has more features than bitcoin. You have to have more features AND have nearly the same trust and adoption of bitcoin, and the blockchain needs to be scalable.

I think that Monero has a real future here. It is probably the best altcoin out there at the moment, because every single coin is fungible. With bitcoins, you're getting much better privacy than bank transfer, but Monero is on another level.

Definitely bitcoin. More popular and being use to buy goods. Alot of people trust bitcoin than the others.

I will choose the ETH and ICO based its platform. BTC will be very difficult to keep the current location if not improved

I voted Stratis, because I think it has the most potential but I see a future where many coins work together. For instance the Stratis team said they aim to work alongside the bitcoin blockchain which is why they are making a trustless bitcoin mixer.

I chose ethereum
Why?
Because Ethereum Wallet is the gateway to decentralized applications in the Ethereum blockchain. This allows you to hold and secure ether and other crypto assets that are on top of Ethereal, as well as writing, deploying and using smart contracts.

Interesting topic and something I've been thinking about lately.
Bitcoin is completely dominant, but if they can't lower transaction time (verifications), it'll never work as a currency for everyday transactions. It could still be a great store of value, people don't use gold at the grocery store.

Government always want control, they will try to steer the focus towards something traceable.
The people want anonymity, so as to get away from the government looking over your shoulder all the time.
Will government control or anonymity win?

My personal favorite is CloakCoin. Great dev team and they are working on making it open source. Will it be the one to challenge Bitcoin? I have no clue, but it's fast and as anonymous as it gets. I'm betting anonymity will become increasingly important. As the economy gets progressively worse, government will strive for greater and greater control.

I don't know if the bill has already passed or if it's still being worked on, but the last I heard, you will be expected to declare (if you're entering or leaving the US) the amount of Bitcoin you're carrying if it exceeds $10 000 in value. This tells me a couple of things. The government wants control and they are completely clueless about how crypto currencies work.