Bitcoin Forum

Hi guys,

May I solicit your educated opinion on this topic.. as you can see Bitcoin have undergone a fork this 2017 and now there will be another fork again for Bitcoin Gold.. How sure are we that Bitcoin will perform its purpose, or will another Token or coin come into the spotlight, maybe not now... but most probably on the year 2021?

Thank you for the feedbacks.. All are highly appreciated.

Bitcoin is the original coin, and Bitcoin gold is a alt, get that, then even learn that no coin or nothing can replace Bitcoin ever. Bitcoin cash came and look now no one doesn't even talk about it anymore. Bitcoin gold will come and go, if you're wanting to invest or buy Bitcoin, keep on buying slowly and hold it for the long run. Ps how did you come up with the year 2021?

I was wondering how you came up with the year 2021 as well. Do you know something we do not? It is less than 4 years from now and that seems like such a short time for Bitcoin to go away completely when it has done nothing but grow for almost 10 years.

You're asking how sure we are that "Bitcoin is performing its purpose"? Well, let's take a look at its purpose, distilled down to the most basic idea, as represented by the title of its white paper: "a peer-to-peer digital currency".

Even if only because it was an early mover (not the very first, some will argue, with valid points), Bitcoin can already be used to day as exactly that: a P2P digital currency. There's not any other cryptocurrency or altcoin that has as many merchants accepting it. You can use it to buy almost anything these days. Some governments even allow tax and payments in Bitcoin already.

So we don't need to look at 2021, Bitcoin already is performing its purpose today, as it was even at least three years ago.

Whether or not another token/coin will replace Bitcoin might become irrelevant once crypto becomes recognised and accepted globally.

You can compare this with GNU/Linux distros. Taking Debian for example, Ubuntu is a fork from it, Xubuntu is a fork from Ubuntu and so Debian. There are maybe about 100 forks from it. Is there an OS that completely replaced Debian. Yes in term of popularity, but Debian is stll considered as the mother of all Linux OS and the most solid and stable. Why ? Because some of the forks are more user friendly.

A crypto developed with this idea can have the potential to replace Bitcoin in term of popularity. If the crypto is more user-friendly, more developed, a larger ecosystem etc.

bitcoin have undergone other forks in other (previous) years too.

that has little to do with bitcoin!
it is just a project using bitcoin's name, code and blockchain to create some ICO altcoin with a large amount of premine.

bitcoin will "perform its purpose" for the foreseeable future.

what token?
first there needs to be something capable of replacing or competing with bitcoin then it replaces it!

it sounds very much less likely that one another coin or token replacement. as bitcoin is the initiator, it will be always exist and dominating one imo.

Did you came from the future or something? As you gave almost an exact date that some coin will replace bitcoin, anyway to answer the question here is my take on that matter. I think that there is no coin that may replace bitcoin as of now or on the year 2021 first is mainly because bitcoin was the first coin so it is already established unlike the other coin, we may see other coins such as etherium following bitcoin's path but still it has a long way to go. Second not all establishment or entrepreneurs deal with bitcoin my point on this one is if there is not that much merchants or entrepreneurs uses bitcoin what more would you expect from alt coins. There may be other coins that exceeded etherium in terms of pricing and strategy still they are still young so as bitcoin so there is a lot of room for growth, and lastly bitcoin has not yet depleted so miners still get it some of it and depletion will not take place on 2021.

If you are talking about BCash and BGold forks then No they can never replace bitcoin and they are simply altcoins and have/will have different chains.If you are talking about upcoming Segwit2x fork in november then nothing is certain till now except there will be a fork and that time we will see which chain comes as a winner(B2X or Bitcoin core).I will be keeping my coins this time on both the chains as this fork will be very different then Bcash fork.Most business are supporting Segwit2x and if it gets adopted by users then most of the exchanges/bussiness might write it as bitcoin.

maybe. If bitcoin remains like this is not impossible there will be new coins that will outperform bitcoin. now we know that the ethereum in call mention will replace bitcoin position someday. but we will not know what's going on in the future, maybe there's a great new coin that can beat ethereum and can outperform bitcoin.

As we can see on August hatdfork, bch didn't even rung for long, it was just made on split but didn't performed well,still btc gains more success after that. But we don't know what the nwe hatd fork can make yet.

There are already many coins that are far superior to Bitcoin technically, offering 100% anonymity, faster transactions, reduced fees, smart contracts, eco-friendliness (proof of stake), etc.
But nothing has surpassed Bitcoin because it's the first cryptocurrency of all, and therefore the most popular/trusted. For the past 8 years since its creation nothing has come close to surpassing it, maybe there will be something within the next 5 years but to say that it's unlikely would be an understatement.

Of course not. However, the bitcoin will not be replaced by tokens and other coins. Why? because bitcoin is the first coin to appear in the world of cryptocurrency. so, bitcoin is an example and reference for other coins either in the form of tokens or not. The hard fork will not be able to equate bitcoin with other coins.

Honestly, I do not believe that some altcoin can replace bitcoin. It was and will be the first and only of its kind, no matter how many forks. Another thing is that one day it may be hacked or banned somehow, then on the front line some other crypto currency will come out.

This is a very tough question to answer , still i would put my views in this way. Many new tokens/coins are launching each and every day , its hard to predict which is going to be popular like bitcoin . However, based on the volatility or performance of the new coins fluctuation still would be on both sides and as bitcoin is the initial coin , still that would be treated as gold for sometime atleast for another 5 years , parallel other coins also will perform based on their company events or performance. For short term and good returns, new tokens would be great for good returns.

Thank you for your response.. I am now currently practicing it buying with whatever the price will be and then hold for the longest time possible... I think it will be very productive in the long run compared to trading with the risk of losing it all..

For the year 2021.. it is just a speculation for me... that there will be a token who might come close or continue to even greater heights than bitcoin..

You may search this on etherscan.. Token name: Kuarta (KTA)...

You have a point there... coz this has kept me thinking.. why is it very hard for bitcoin to replace the current financial system we have today...?

You are probably right about this.. It's good we have to have an open mind on the current and future growth of cryptos... Hopefully, this will be very soon.. from the FED system to the New Peer to Peer system...

I think that in present time we are not going to experience any new experience on bitcoin, In fact bitcoin is the number one currency of the world and we can expect that it will remain as number one for a long time time, and not a single alternate coin can cross bitcoin, because bitcoin is still the number choice of the investors as they feel bitcoin as more secure to investment. So we can expect that bitcoin will remain as number crypto currency for a long long time.

It's the most popular, the most well known. Now if someone learns about cryptocurrencies it's Bitcoin. You first hear about Bitcoin then try to know more and find other altcoins.
In future there will be a point when everybody will know about Bitcoin and they will start comparing features and possibly choosing those they need more like better anonymity or cheaper transactions.

A new type of token or coin will NOT replace Bitcoin because Bitcoin has the most secure network to function on with the most people that want it to thrive and continue to do so. With so much love on one chain, others will only die eventually. Also cuz they're centralized;)

Yes, another fork is going to happen which is Bitcoin Gold but it going happen on October 25 at 00.01 but the full network launch is scheduled for November 01 this year not 2021. However, the Bitcoin Gold is just another altcoin and it won't take the number spot from Bitcoin.

I think the bitcoin gold just follows the big name of the bitcoin.
yes I think gold bitcoin including allcoin catagory. so I'm not too sure, maybe so will get the attention of all of us.

It's not about following. With a big network upgrade like that Bitcoin has to fork, there's no other way. It happens because you just can't make everyone move to the new chain and abandon the old one. Bitcoin Gold is only a byproduct of changes to the network, like Bitcoin Cash. I believe both will eventually be abandoned. BCC is slowly but surely going down in price. Same thing will happen to Bitcoin Gold.

I think it is impossible for a new type of Token or Coin to replace Bitcoin completely. Bitcoin is the first mover cryptocurrency in a world of digital currencies. It is currently the most valuable and also the one with the most media attention. In the long run, there could be a chance that Bitcoin dies off of popularity or utility, but the truth is that more hard forks will come off of the original branch of Bitcoin. Each fork just gives free dividends and "free money" to Bitcoin holders. Judging from the success of Bitcoin Cash, it seems pretty clear that hard forks are a major benefit for Bitcoin holders.

Essentially what this means is that maybe we should be thinking about what happens when Bitcoin takes over the world......as opposed to when it will die.  :o just my 2 cents.

I doubt that there is any other altcoin or token that can replace the bitcoin. At least not for the next 5-10 years. Bitcoin brings legitimacy to cryptocurrency as a whole, especially since most people don't even know that other cryptocurrencies exist. Moreover, Bitcoin has been around for a long time and has proof that it can withstand through hard times and has a history of constant increase.

I believe that cause in my opinion I think the total supply amount of Bitcoin is limited so when all the Bitcoin around the world mined out maybe Bitcoin price and trading volume will decrease because of this case or maybe because the limited supply amount Bitcoin will become more rare and it will make the 1st place of Bitcoin stronger but I think the first case, Bitcoin price and trading volume will decrease, will happen and other altcoin will replace its place maybe it can be Ethereum.

There's a lot of coins sprouting in our era. but those alt-coins originally came from the mother of all coins, Bitcoins are the most established ever and i don't see possibilities will overtake the value of btc in the future. Remember the most popular of all coins are the most expensive one. Compared to other alt-coins they have to surpassed more years to come up with good value.

I agree, Bitcoin is the original token, Ethereum added new features to the blockchain including smart contracts, which is now used for all the ICOs. I do no think, that an token - especialy a token on the ETH blockchain - can overtake Bitcoin for now. Furthermore, even though there is a lot of speculation going on, many people and companies are heavily invested in Bitcoin, this also adds to the value.

According to what I know a new bitcoin hard fork will appear this month, but the current event has not yet been implemented and I hope it will succeed.

Maybe. Not a direct replacement with some edited values though. That's been tried by numerous altcoins and they have never succeeded in the long run. But, in the future if it's there's a new concept brought in and some new ideas then it's entirely possible. If it's going to improve on Bitcoin then I'm all for embracing future cryptocurrencies. At the moment though Bitcoin remains the king.

If that happens, it's definitely a good thing and we should learn. I think Bitcoin is still dominant now, but we still have not figured out how long Bitcoin will last, for me there will be times when Bitcoin will be down and replaced by a better market.

I Don't think so that bitcoin will be replaced by another token. Bitcoin is the original one and has its name already for many years. I think bitcoin will continue to grow into a bigger one. Maybe they will add a new tokens but not to replace bitcoin

I agree. The pioneer isn't always the last man standing. There are plenty of factors to consider, but for at least the next 5 years or so, Bitcoin will be here to stay. We know how fast the landscape could change, and some new revolutionary unforked crypto could take the world by storm.

I thinknot.
There may be a coin that can someday compete with bitcoin when it comes to price.
But to say that will it totally replace bitcoin,  then i think it is not possible.
Bitcoin has been the foundation therefore it will always have an edge compared to others.

No doubt Bitcoin is pioneer in cryptocurrency world and still leading the market as a main coin while all other cryptocurrencies are considered as altcoins, but this worth and demand of bitcoin is only because of its loyal community who rely on bitcoin than any other coin.
What OP is asking is somehow possible If the whales in the market decide to shift their investment to any other coin than definitely there would be a alarming situation for bitcoin.

I thought bitcoin will never replaced by other coin even for bitcoin cash or bitcoin gold because bitcoin is the original and other is altcoin but who know what will even in future maybe it'll happen someday.

That is not a guarantee that the no other token or coin could replace bitcoin,what if a better solution to the problems bitcoin is currently having is replaced by a better solution and a team forks the coin from the present block chain,it is highly possible in the future,so do not count down the possibility as there could be changes ,i am not telling it is certain but anything is possible.

as far as I see it, bitcoin already established his identity and if ever any alts or token to show up it cant replace what bitcoin already gain in terms of support
so I'm in the other side which I believe that its hard to find another crypto or create another crypto to replace btc.

Other coins are emerging, but they are only temporary, nothing lasts as long as BTC. bitcoin will always exist and no one can destroy it, because of its already strong protection.

I think it is extremely hard for a new token/coin to replace bitcoin because bitcoin is already 9 years old. You cannot create something so old and so popular in a short time.
The only coin that coule replace bitcoin is a coin created by governments, a coin created by USA or China could surpass bitcoin. But that seems impossible because I dont think the governments need that.