Bitcoin Forum

Is there a chance that other currencies such as Dogecoin, Guncoin, Altocin and litecoin will be more popular and more valuable that Bitcoin?

No.

How could that be possible?
As other cryptocurrencies could be used as they are cheeper, so if lots of people started buying them then the currency's value will go up!

IMO, yes I think so...

More and more of the newer and upcoming crypto's, like cryptonote, are becoming more known for having superior technology for better fungibility, anonymity, and continuing block sizes.  Then you have the fact that the economy is going down with China and will have the negative effect on bitcoin. As bitcoins prices go down then that would have to mean that everything will go down with it. I feel like at that point when all crypto's are relatively cheap, people will then start to question which coin would people in general want to go with. There will be a large support for bitcoin, because people are generally reluctant to change, but I believe that a larger majority will start to delve more and more into other online currency.

People tend to bring up the relationship with bitcoin and myspace... the more superior technology tends to rise when it is in demand. Faster, better layout, etc. (twitter, facebook, etc.)

Then again, I'm just a simple minded noob getting into the hang of things... just my opinion.

Can I change the question to say, "is it possible that a coin that solved Bitcoin's critical flaws could become more popular and valuable than Bitcoin?"?

If so, I say yes it is possible.

Those critical flaws:

• Double spending on every network fragment.
• 0-confirmation transactions require network centralization to be reliable.
• Scaling transaction volume requires network centralization to handle bandwidth (hello Bitcoin XT a.k.a. GavinCoin a.k.a. GovCoin).
• No on chain, end-to-end principle anonymity.
• Not censorship resistant long-term. Permission-less commerce not insured long-term.
• 51% attack could change the protocol in the future, by then the masses don't care. They didn't care that the dollar is debased.

Bitcoin is a highly flawed 1.0 version of crypto. Version 2.0 will definitely challenge it. Stay tuned.

I believe a contender would need to fix ALL of the above and more. Not just fix one or two of the issues.

Notice the coins you mentioned don't address those issues.

i think its almost the only outcome, that a p2p currency exceeds bitcoin in usefulness and popularity at sometime in the not too distant future, however i don't think that future p2p currency exists yet.

devs (as they mostly pretend to call themselves) from this community are too obsessed with 'innovation' but here that means complications. the real innovation needed is simplification.

i've found though the nerdy IT crowd here is in general far removed from understanding the most basic market dynamics, currency or even basic math.

not to mention way too linear in understanding potential security flaws.

Please enlighten us.

where would i begin ?

Step 1

The Begining

Point A

Anywhere

Yes an alternative will beat Bitcoin but it will not be one of those coins nor any on this forum or on the exchanges.  The simple truth is all the analytical research suggests Bitcoin is used by almost nobody and the user base is not growing exponentially.   Your alternates are doing far worse.

The blockchain is a novel idea and seems to work well for handling decentralized currency.  Yet the blockchain alone isn't enough to undue all the public image problems associated with Bitcoin and the anarcho-libertarians who are most vocal about it.

Will happen

Only way is if the coin has a more users than Bitcoin.

ok begin with market dynamics

the 'price' v USD of bitcoin,

nothing more then the greater fool theory;  in this case the price of bitcoin is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants. A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.Or one may rationally have the expectation that the item can be resold to a "greater fool" later.

anyone brave or stupid enough to tell me that 99.9% of bitcoin holders on this forum, aren't holding simply to sell for a higher price to a greater fool later on?

(well tbh this isn't the only mechanism that got us to this point, there was off course manipulative bot trading).

Only if there's a major problem in Bitcoin, such as a major design decision turning into some sort of bizarre holy war and heading straight past any reasonable point for the decision to have been made. It will require a huge amount of development effort moving, though, it's difficult to explain to a non-technical user just how much effort is being poured into the Bitcoin Core code, making constant improvements in performance, security, stability, scalability etc.

There is always a chance.

Short answer: no. Non of your named coins will beat Bitcoin. i am sure, when crypto currencies will enter mainstream one day, then there will be a more valuable coin in the future, but no one of the existing ones.

no

It can beat btc but it has like a 0.000000000001% of doing so lol

I can see it.

Some big player like eBay or Amazon, introduce a crypto or adopt another such as Ripple/Litecoin (after buying a shitload for themselves first perhaps)

Maybe.. I dunno, but I think now in 2015, one of these big websites could have the potential to make or break Bitcoin overnight.

It's possible but unlikely for existing coins. The key is acceptance as payment and ease of use on consumer side. The technical features are probably quite secondary and unimportant. For example most of these gift cards for markets, iTunes, Amazon and so on are more or less easy to fraud, but still they are widely accepted.

It doesn't have to be a large player to introduce it, it could be a company that wants to challenge PayPal with a crypto coin based paying system with enough backing, or just that right idea at the right time (like Slack), to pull it off. Possibly accidentally even (like Slack again).

My issue with the "nerds" is they evangelize about Bitcoin and spout off the same talking points about how it solves the Byzantine Generals problem or the blockchain is an amazing piece of technology or that it is backed by math, yadayada. The average joe doesn't give a crap, or even knows or understands what the Byzantine problem or a blockchain is. They just want to know if the money is secure, is tradeable for goods and services and won't lose 80% of its value in 6 months.

I still say the main thing people need to be pushing Bitcoin as is to be a general hedge against economic uncertainty (digital gold), as a form of payment for ONLINE ONLY purchases or a currency that rewards digital services derived from the blockchain, frankly there is no practical reason to use Bitcoin as a currency in the brick and mortar world over a credit or debit card, its more convenient for most people to whip out a card and swipe at a terminal than having to do the stupid "hold my phone up to the QR box, try and get a scan, wait, wait wait a few seconds, hang on its blurry let me refocus..." which does nothing but hold up the line for everybody else. And even if it saves Merchants on fees, again the consumer doesn't really know or care on that end.

People only like bitcoin as it is an alternative currency to their own, it can not be taxed as is decentralised and It is universal and can be used in many countries! This is the same as all of the other cryptocurrencies

Yes i think we will have new developments what in time can be more  popular than bitcoin

If you acknowledge technology is moving forward,there must be something new and interesting will be more popular and easy use than Bitcoin. :)