Bitcoin Forum

My Points:

• BTC is tracable
• BTC is having a huge txn costs
• Time taken to transfer money is more than 10 minutes
• Mining is being done with somewhat centralized servers(pools)
• Several other Alts are now at the market and they performs well in the market
• People use different currencies for different purposes

Other currencies can certainly push BTC to be better and they already are. Bitcoin will always have an advantage because it came first and because of what it stands for. Bitcoin unlike many is not controlled by its developer.

In short, bitcoin can be replaced but it will take something revolutionary and for bitcoin to not try compete.

My instincts are saying “Of course not”. Bitcoin is clearly a protocol for sending value around the internet. Any computer science geek can tell you it meets all the requirements to be a bona fide protocol. All protocols gain dominance and hold it in the same way, without exception: Once one protocol gets out in a clear lead against any competing protocols, the Network effect never fails to work for it and against every competitor. This is unavoidable; it's just human nature. For instance, HD DVD is never going to overtake Blue Ray, just like Minidisc never overtook CDs, nor Betamax never overtook VHS. Many have tried to create better protocols than these, (and minidisc was clearly superior to the CD) but nothing ever overtook TCPIP nor HTTP nor FTP either for their respected roles... This clearly means that no altcoin you can create today is ever going to overtake bitcoin, period. -No matter how advanced it is. You may ask then why we don't use VCRs nor CDs anymore; but they weren't beaten by others attempting to replace their protocol... They were made useless by some new level of technology that doesn't even need that format at all anymore. (A CD is a protocol for storing music on a cheap disc... We don't need the format of discs anymore, so hence that whole format has gone extinct, not just CDs.)

For some new kind of money to come along that can do the same to bitcoin it would have to be so advanced that we cannot imagine it today. I believe telepathy would be required, or it may be be based on some kind of data that can be sent faster than light... But the thought of it just being more anonymous, secure, or have faster confirmation times is laughable... Think of how much better bitcoin had to be than the Dollar for it to overtake that. (When it finally does.) That's the amount of difference you must look for before bitcoin can be over taken.

It is true that bitcoin in delivery time is slower compared to coin coin altcoins, but this does not affect the bitcoin always best, I think bitcoin will not be replaced by altcoins because bitcoin already has a lot of confidence in society and bitcoin to be coin was first created in this world, so I think it's hard to be a bitcoin substitute.

I think even my sight for now, there is no Altcoin that can match bitcoin, until now it all depends on bitcoin price in the world market there is no Altcoin movement that rival bitcoin, of course we also do not know in the coming year whether there is a as well as bitcoin, to really be able to shift the bitcoin on the layover ...

You forgot a very important point:

In the era of CO2 emissions,

• Running the bitcoin network uses as much electricity as a medium-sized country

https://digiconomist.net/bitcoin-energy-consumption

It may happen or it will not happen, but if it happens sometime I can not be sure, but I think it is very difficult to replace the bitcoin position that is very famous in the world, we'll see just the same future development later.

All AltCoins came from Bitcoin and so far, none of them showed an impressive performance compared to the original currency. So I don't believe Bitcoin is going to be replaced soon. The points you listed can make sense, but what you said is already happening since some good time ago and meanwhile Bitcoin only gets stronger... The conclusion I can reach is that these points aren't affecting Bitcoin existence and dominance.

People are always going to be searching for the "next" bitcoin in the altcoin market. Realistically, it will take alot to oust BTC as the market leader. The great "flippening" has been talked about in the past and ETH has come closest but I don't see BTC leaving it's seat any time soon. IMO, the only way that happens if there becomes greater FIAT entry directly into other coins. Right now the FIAT to altcoin market is limited so the majority of buying and selling funnels through ETH and BTC pairs

Many say that in the future coins will appear that can beat even replace bitcoin. But, so far the new coins that appear cannot replace bitcoin because the coins still make bitcoin as a benchmark to determine the price so that the coins can not be separated from the effect of bitcoin fluctuations. If there is one coin whose price movements are not influenced by bitcoin prices then the coin can be said to be able to replace bitcoin because it has a different market for bitcoin.

No, because it is about thrust. When the coins developer gone then the price will be crash. Bitcoin has no developer that exist but it is become the number one cryptocurrency. This because people are thrust bitcoin, bitcoin will not scam them. Why? Because it is just a currency. So I am sure that btc will not replaced by an altcoin.

         If we make an analogy to compare digital assets,it is more accurate to say that bitcoin is like gold and altcoins are like platinum or silver. They are at thr back of bitcoins. But bitcoins and altcoins are both valuable for different reasons as digital assets.
       And for me Bitcoin will remain and none of the altcoins could replaced bitcoin. Because bitcoin is always be the original digital asset. It solved the problem of trust-less scarcity on the internet. It is also a survivor. Bitcoin survived from 9 years of constant attack,bad press,attempted government regulation,an onslaught of altcoins and tons of ICO tokens. Despite all of this bitcoin continues to grow and remains the purest,strogest,most decentralized,most valuable,most leaderless version of cryptocurrency. Bitcoin is always the best digital asset and no altcoins can replaced.

Maybe, maybe not. Or maybe no one will care in the future as long as it serves its purpose. There may be a time bitcoin will be replaced but bitcoin will never be forgotten as it was the first product of blockchain technology.

well there is one i know has a plan on replacing the bitcoin but hello bitcoin is rising again.

bitcoin are traceable, YES it is, you can track how many bitcoin your account or ones account send by other account but it will not give you who send it (name and location) what they called Anonymity

It have a huge fee in sending bitcoin, because it was maintain by miners

Receiving takes more 10 minutes, ..."Currently, bitcoin network traffic is unusually high due to increasing demand for transactions per block. Block sizes are limited, so this means that transactions which exceed the capacity for a block get stuck in a queue for confirmation by bitcoin miners. This queue of unconfirmed transactions is called the bitcoin   mempool." Ref: as for bitpay

.."Confirmation times vary. Confirmation times depend on the transaction fee paid by the sender. If the fee is high enough, Bitcoin transactions can obtain three confirmations in as little as 30 minutes. If the fee is low, it may take days for a transaction to be confirmed." ref: Luno

I believe that it takes many year before bitcoin will be replace by Altcoin, if these problem will not resolve. But, for now bitcoin will be remain on top of all crypto as it is the first crypto embrace by society.

Substitutions will not be exact. They will always go as friends in kinoshku and will always be nearby. But there is no substitute for friend-ruga.

Well said,  i think it is very hard to replace btc. Because as far as i know altcoin is alternativecoin . Bitcoin was the first coin that ever made. Then there is altcoin that was next. So i guess replacing btc is difficult.

Bitcoin to me is unreplaceable when it comes to altcoins potentially replacing it. Bitcoin has much more base value, has a much more bigger community and a deeper potential when it comes to all that is said and done. GRanted that you have been able to provide the cons you have listed above the potential still far outweighs it whenever you are looking for the answer to this. Try to compare the two values and which one you like now, would it change after a few years? If no? Then that your andwer

NICE

It's not possible it can be replaced by alt coin but at great cost. Bitcoin is huge with currently over 40% cake of the market portion. Bitcoin is the base of the market. Say "mother" of crytpo currencies, without its foundation alt coin might be hard to scale up.

However, I don't agree you say txn cost is expensive that there were segwit to reduce it made possible by two major exchanges.

I don't think bitcoin is replaceable with any altcoin although it's transactions time getting slower but still people feel confident with bitcoins more and why not it's the first decentralized digital currency and survived for over 9 years with lot of bad news, government regulations etc. Bitcoin will always stay on top.

Your points are all right. But, you have forgotten that bitcoin is the most acceptable currency that can be converted into fiat. This alone gives bitcoin the upperhand from all the other alt coins. Still, the most important thing in this market is how you will be able to obtain your fiat money from digital money.

Well there's a possibility, but I don;t think this will happen anytime soon. A lot of altcoins holders convert to btc when there is crisis in cryptocurrency in panic. So I think bitcoin will till be strong in spite of the above disadvantage reasons that you give.

The only reason Bitcoin is in such a good position is the first digital coin and in my opinion, there are dozens of altcoins that can reach the value of the Bitcoin's current circulation. For example, the Ethereum is one of the altcoins that have capacity to back up Bitcoin and no doubt it will be in the future.

only if you can find an altcoin that is truly better than bitcoin and solves the issues you think exist without introducing newer problems. for example some altcoins think they can solve the bitcoin scaling issue with simply increasing the block size of it or reducing the block time, (eg BCH and ETH) and they fail because they create newer problems.

There are definitely a few good altcoins that have got the potential to beat bitcoin such as Ethereum, Neo, and Litecoin. But I don't think they can beat bitcoin in near future.

I still believe in bitcoin nobody can replace bitcoin as king of altcoins, I can't understand why people always asking bitcoin replace by the potential altcoin in the market, we should know have many problem and trials faces of bitcoin starting from the start as first decentralized cryptocurrency and all the problems are successfully fix. have nothing doubt bitcoin is very strong as currency.

I think bitcoin can be replace with other altcoin. Right now, many coin/token with different good project and purpose. I am believe that bitcoin dominant on market cap will decrease because several good token/coin.

I don't see any reason to believe that bitcoin can substitute for any coin of altcoins. The only drawback of bitcoin is the speed of confirmation of the transaction. But this problem is sure to be solved. The rest of the arguments OP is a FUD. The price of a bitcoin transaction is also a very controversial point. In percentage terms, it is small, but if you convert it into dollars, it is high. This means that you need to move away from the need to convert Fiat to bitcoin and back.

I think its not, bitcoin grow so much and even the second coin next to bitcoin is spending much time just to surpass it. Replacing bitcoin is not that easy, and untill now i still didnt see any altcoin that is very close to replace bitcoin. Even though they are trying to copy bitcoin and even the name of it, still no one succeed to replace it.

It is difficult to imagine the circumstances that could destroy the value of Bitcoin, the low number of transactions possible per minute. The high amount of electrical energy needed for mining, and the possibility that some entity may find a previously unsuspected exploit and game the system.

ETH has a good chance. When we look carefully at the characteristics that differentiate Bitcoin and Ethereum, we come to the conclusion that the second cryptocurrency is much more universal, gives more possibilities. It is no wonder that 2017 is not only in terms of the growing BTC price, but also the growing valuation and popularity of ETH. It seems that ETH has more features of the means of payment. Meanwhile, Bitcoin, due to its inalienable features, will become something like virtual gold, an asset that is supposed to preserve the value of capital over time.

Why does everyone think that altcoins ever replace Bitcoin? That will not happen. even after 5 years (and this is a great time for cryptocurrency) capitalization of Bitcoins will be higher than that of any other cryptocurrency.

There will be time where the King will be replaced either by dying or having a better king as a replacement. Same goes to the Crypto the king is bitcoin but there is a super small of it dying however there is a chance of it being replaced by alt coin in the future if there will be a coin that can contend with bitcoin.

I don't think an altcoin replacing Bitcoin is possible... yet. It's surely plausible and it would depend how the market moves forward with development. The Blockchain technology is revolutionary, but I still think it has not reached it's max potential. I would say with confidence it would depend on how the Bitcoin progresses overtime and any future technology creation in the industry.

Bitcoin will always be a security like gold, but I don't think it be the main form of cryptocurrency. So with that said it's very possible that an altcoin will replace Bitcoin.

Yes so lots of people will go to bitcoin but i think when the bitcoin price goes down I think I'll catch it with other altcoins, But it's hard to believe and happen.

     Well obviously, all of those you have mentioned are true and have already been taken into consideration by most investors out there. I get it, bitcoin is not perfect but it still has a lot of time to grow and get fixes to its issues that most of us get irritated about. And honestly, I think that people have accepted these drawbacks of bitcoins, which is why they still put their money into it and hold for long periods of time. Although I know that there will always be a possibility that bitcoins will get replaced by some random altcoin out there that clearly is more better than what bitcoin is today but I personally think that it will take a whole bunch of time before this happens. Specially when we try to consider that most of us here was brought in to the crypto world because of bitcoins or have known bitcoins first before we have ever heard of other altcoins.

see the development of the declining bitcoin, however bitcoin will be difficult to replace by altcoin because bitcoin is a milestone of altcoins.

I often think will bitcoin reach some sort of 'gold' status in cryptocurrencies in the future? Even if we have better and quicker cryptos that are less energy consuming, BTC introduced the blockchain technology and is by far the most well known and is relatively scarce. Maybe because of that it will retain a high value in the future.

This has been asked a lot of times in this thread. Before, I've been thinking that it would be replaced soon but as I observed, it would take time before it will. As we all noticed, when the value of Bitcoin drops, all the other coins do the same thing.

I don't think so. You first need to buy BTC before you can buy an altcoin. You can figure out the logic then.

Bitcoin no one will replace, but the degree of its influence will be reduced by other altcoyins

I cannot clearly see it happening because bitcoin is already distinguished as the King of all cryptocurrencies aince bitcoin ia the only cryptocurrency that reached $20000 mark. The first thing for an alternative coin to have  is a great potential to the market and huge demand although everything has a possibility, the feasibility of an altcoin to replace bitcoin is unpredictable.