Bitcoin Forum

Right. Satoshi Nakamoto created Bitcoin. He's a genius. Bitcoin systems and communities are working perfectly, and everyone is crazy about Bitcoin. But what happens if someone creates a blockchain that is faster and better than Bitcoin and puts it out into the world without any greed, as Satoshi did? Are people going to ditch Bitcoin away? In that moment, we're going to see a blockchain that's performing better than Bitcoin and is perfect for decentralization that everyone emphasizes. What will happen?

Let's think a little. Do you still use your old Nokia from 1998? I guess not, although 2G is still supported by the GSM network.
If something better, faster, safer it's invented, it has the potential to replace Bitcoin.

But keep in mind that for this it also has to be at least as profitable to mine as Bitcoin is, else the miners will not change, hence the network safety (for the new coin/system) may not become safe enough.

Maybe you are outdated but there’s a lot of blockchain existing that faster than Bitcoin. I believe most of new blockchain nowadays is much faster than Bitcoin in terms of ToS since they use PoS and other protocol.

There’s no second Satoshi just because much better blockchain arrive. Bitcoin is special because it’s the only real decentralized blockchain since there’s no centralized entity or company that control the decision making on blockchain.

No one will ditch Bitcoin just because faster blockchains existed since Ethereum exist a long time ago yet Bitcoin still at the top.

Well, ... Ethereum is imho not better than Bitcoin (not even equal), so it already doesn't fit OP description, and it's certainly not safer (and that by far, sadly) either, and that's imho a common sense requirement on top of what OP has written.

There are millions of possibilities out there so we can consider one possibility that another genius besides Satoshi might come up with another blockchain and some other token that would solve more blocks, can process more transactions, and would have lesser fees, more rewards, etc. in compare to the BTC blockchain but BTC or its blockchain has become a brand now.

Even if those new projects came into being, which is in the market, because there are many blockchains that can process more transactions, have lesser fees, and can create blocks quickly with more rewards in tokens. But those platforms are not able to replace BTC because they are not being adopted by the crypto community and BTC has gained so much attraction and market cap and trading volume that none of the others can compete with it.

So, for the next 20 years minimum and 40 years maximum, I don't think if any other coin can come up that could give solid competition to the BTC market.

What is certain is that the project must be able to outperform Bitcoin in any aspect. If it is lacking in just one of them, no matter how good the project is, the potential to displace Bitcoin is very unlikely. To be honest, we have often heard of projects that are represented as being able to displace Bitcoin by crypto project developers, but in reality these projects are gradually fading and their value is below Bitcoin and some even end up bankrupt and even scams. This explains absolutely that Bitcoin is a monument to cryptocurrency itself that cannot be replaced.

If a better system is created and it is proven to be superior to Bitcoin is security, decentralization, scalability and other factors, it will replace Bitcoin as the top cryprocurrency.

Bitcoin is at the top cause it is superior and not because of the sentiments of investors, so it will be an easy choice should something better come up. This will not make the inventor the second Satoshi and will not make the invention Bitcoin 2.0.
Bitcoin will still exist and be used

I cannot agree more with you. BTC really has become a brand, just like old and reputed companies, which are the first choice of all investors to invest money in. Why would an investor spend millions of dollars on a project with a high risk that is being launched in the market in competition with BTC? That would be so stupid, but even though, as you said, many new tokens or coins have been launched into the market, the funny thing is that most of those meme-shit coins make posts on social media platforms.

If you missed BTC, ETH, BNB, or some other two or more coins, then buy our shit coin and make 100x. Yeah, many platforms try their best to lure as many people as they can, and then all they do is rug-pull them.

Overall, if one does know the potential of BTC like you mentioned, the market cap or dominance would be great to mention here, then that person considering the new upcoming BTC would definitely delete that thought. And for OP, no, we won't ditch BTC at least. I will not do that.

That person will rather be regarded as Refurbished Satoshi because I know it will definitely be building on the existing protocol that bitcoin is on and this is something satoshi doesn’t also rule out.


Yes POS is faster than POW because of the computational power needed to solve the puzzle of the block but that also makes up with its security. Also POS dependent coins aren’t even the fastest. We have something like Ripple which uses neither of both and is faster than them, but at the detriment of what? Centralization.

Just like the second coming of Jesus or the rapture, we will never know about the next Satoshi until we see him in action, and I think that's a far from ever happening anyways, a lot of early cryptocurrencies were inspired by bitcoin and most of them wanted to create a bitcoinesque crypto that has a better network and at the same time be better than bitcoin but so far no one or none was able to create the next bitcoin and no one has yet to topple the throne of Satoshi as the best founder in the cryptocurrency space, but to indulge your fantasy, I would say that people would probably have the same reaction when Satoshi and his bitcoin first appeared, only the tech bros would probably be interested in it but they're accompanied now by speculators and those speculators are going to be the factor that will make or break the next Satoshi, if they get in too fast then the possibility that people will quickly get out to make a profit.

Well, where is that, "The Thing new, " there have been more than 12 thousand attempts, so, what happens, nothing.

In fact it is "incomprehensible" (it is not so much, we already know the reasons) that something like bitcoin in +14 years there would not be replaced in a more relevant percentage than what we currently use, consequently, we understand that bitcoin is a relevant option to "accompany" (for now) what the traditional Fiat system manages..

So, in practice it is not only about better than what exists, the systems, understanding their definition as a global aspect, not only referring to the technological aspect, the systems are complex to adapt to new things, in this case technologies, the implementation of anything new has an impact on the user.

Anyone who works in the IT aspect understands this, but it not only happens in the implementation of a technology, it happens in the implementation of infrastructure, new policies, etc. An existing system has an adaptation period, and that adaptation period includes rejection and/or acceptance.

So in that idea, any project that is carried out with the new idea of being better than bitcoin faces first of all the great existing Fiat system and then bitcoin, this regardless of how efficient the first two mentioned are, in that sense any new project has to face the trust that exists with the two systems mentioned.

There is currently no crypto project as reliable as bitcoin, but above all, that users give it so much trust, hence, any project will take many years to achieve the latter.

This will only create a more competitive environment in the bitcoin market and nothing big. The new technology will be regarded as a new one and bitcoin will still exist and stand on its existence protocols. The world is big for new technologies to emerge without having to tarnish the existing ones. Bitcoin was already built on decentralisation which many digital currency tried to copied but all to no avail. It will not be an easy one for something like bitcoin to be invested again, but when it does, they can both exist on their own without destruct the use of any of them.

You can't tell whether the miners are really going for the new one. Even if they start with CPU mining to make it fair for everybody it's the price that will determine if people are really going to use the network. Nothing beats BTC still since it was adopted and we have gone through all the fuds in this world for it and only to be replaced?

Satoshi wasn't greedy. He didn't use the BTC in his wallet also. In fact, he wants the miner to start over but none wants to restart the network as least this is what I know.

Yeah, there are other blockchains that are faster, have lower fees etc, but none of the existing ones are better at aboslutely every aspect than bitcoin like decentralization, reliability (+ all previously mentioned) and that's why all of them failed to surpass bitcoin.

As for OP's question, if something better than Bitcoin appears, people will most likely adopt it but I don't see it happening anytime soon. And even if appears, it doesn't mean that it will make Bitcoin completely obsolete.

many new projects have claimed to be the next bitcoin but so far nothing has replaced bitcoin yet bitcoin is a well-established  name now and for a reason even if there would be a new cryptocurrency that could surpass bitcoin it’ll take time still there are over 190 million users of bitcoin (https://explodingtopics.com/blog/blockchain-stats#) they’re not gonna just drop a trusted and reliable currency for a new one that claims to be all better than bitcoin in a snap

time will tell but right now and maybe in the next few years bitcoin will remain to be the biggest cryptocurrency

I am not sure who is/ are Satoshi Nakamoto and can not say that the founder of Bitcoin is a man, woman or a bigger entity like a group of secret agencies, government, whatever.

There are many alternative cryptocurrencies (altcoins) with bigger block sizes, faster block times but you know, Bitcoin is unique and is a strongest cryptocurrency.

Bigger block size does not mean anything if people don't want to sacrifice their fund security to use a blockchain that can be more easily attacked 51%.
Faster block times, faster confirmations are not attractive enough for careful people who don't want to face with risk of censorship, blockchain rollbacks that can be done by centralized altcoin blockchains.

https://howmanyconfs.com/

That website has a comparative table that shows you the power of Bitcoin network compares to altcoin networks.

There are already people who have created blockchains that are “faster” and “better” than Bitcoin. They have blockchains that are everything different than Bitcoin that you could imagine. However, the problem is always decentralization and fair distribution. This is where Bitcoin will always be King and why it isn’t easily replicable.

Satoshi is still called a human even though his abilities and mindset in creating Bitcoin are worthy of being called a human genius.
Albert Einstein and other humans who were considered geniuses because they discovered science that was useful to all other humans also acknowledged that one day there would be other humans who would make great discoveries.
If humans after Satoshi were able to produce a useful discovery in the application of a system like Bitcoin, we also admit it, but don't ask to what extent they can beat the greatness and superiority of Bitcoin.

I hope you return to this thread to read one by one the posts that are present here responsibly after you invite discussion.

Decentralization is only seen in Bitcoin. None of altcoins have decentralization and fair distribution is harder to achieve by altcoins. They have centralized teams even not anonymous and usually have considerable coins premined by founder teams or minted with smart contracts.

With unfair distribution when their blockchains initiate, it is impossible to see fair distributions years after genesis blocks on altcoin blockchains.

Because their chains are centralized, rollbacks are big risk like Vitalik team did after the DAO hack and in 2022, some Solana blockchain based projects wanted to do the same or Binance Smart Chain can be halted by Binance team anytime.

A lot of new projects come out saying they'll be the next Bitcoin. They say their blockchain is faster or has higher bandwidth or lower fees or something.  But here's the thing - none of them are better at everything compared to bitcoin. Unless some huge flaw comes out that makes bitcoin fundamentally broken, I dont think people will ever fully jump ship.  That's just my opinion though.  I'm no expert.  But I don't see bitcoin losing its top spot anytime in the next few decades at least.

Nothing will happen.

When bitcoin was launched visa already processed thousands of transactions per second. Bitcoin was created anyway, not because it would be faster, but because nobody controls it, i.e., decentralized.

Speed is not important here.

World needs a decentralized currency, which is permitiontless and borderless.

Many people created bitcoin forks that should be faster, but they are just ignored or just made a few people rich.

The possibilities of AltCoins taking over Bitcoin is extremely a 99.99% heavy task talk more of a yet inventing future crypto currency to challenge Bitcoin that is already existed as the first invented crypto currency which has been acceleration to maintaining its values and potentials and as a matter fact the most reliable crypto currency.

In summary it is impossible but imaginarily if possible, I will be reminded of the strategy of MMM consider the said coin to be a Ponzi scheme because it is impossible for a just newly invented crypto currency to overhead AltCoins talk more of Bitcoin the topmost crypto currency in values and in reliability.

However, I would refuse to be flexible to things that  glitters for all are not gold. Besides... I am already adaptive and inspired on my journey of Bitcoinaire to take control of my emotions towards investment Strategies and choice makings.

Just put up into your mind.

• Innovation is unstoppable and inevitable
• There's no such thing about permanent into this world
• Things really get outdated
• Everything would really be that depending on the demand

Thing here is that Bitcoin is really that the father or the main coin that we do have on this market or simply being the origin.
Yes, it might be that a little bit outdated comparing into those current existing ones but still you could see  that demand isnt really that something
that could be dictated. Bitcoin remained #1 but doesnt mean that it would really be guaranteed to be lasting up forever.

This is why it would really be that your choice in speaking about on what coin or project that you are really that want to invest with.

there is only one bitcoin in this world, it is only bitcoin which was created by satoshi nakamoto, out there, there are many altcoins that claim to be the best, the fastest, the safest than bitcoin but until now those altcoins have not been able to shift bitcoin from the top. bitcoin will never be replaced, because bitcoin was created to improve the world's financial order, bitcoin will continue to exist while altcoins, surely one day they will just disappear and always remember there will be no next bitcoin, bitcoin will not be replaced.

I have to disagree with you as long as investors exist in Crypto-currency then altcoins would never disappear it's the best alternative especially for those investors would don't have the financial capacity to purchase Bitcoin in large quantities also those who have interest in short term pump and dump coins, Crypto-currency is big and everyone has their own point of interest so I think in the future we may not see some certain altcoins (probably went to the ground and never rose) but there would be more altcoins in future that would replace them.

If someone were to create a blockchain better than Bitcoin, it could definitely get some attention. But Bitcoin has been around for a while, and it’s kind of like the gold standard in the crypto world. So, even if a new and better blockchain comes along, it might take time to gain that level of trust and adoption. Both of them could even coexist, with Bitcoin as the digital gold and the new one for different purposes.

How about the altcoins that are created and some of them are really fast and have cheaper transaction fees but they are unable to replace bitcoin. Some altcoins may call themselves bitcoin killers, but they could not overtake the marketcap of bitcoin.

I don't think anyone can develop a better blockchain than Bitcoin. Bitcoin has proved over the period of a decade that it is a foolproof blockchain and no other can match.

By the way, one thing to note is that the founder of Bitcoin Satoshi Nakamoto does not exist, and therefore there can be no change in code, in supply etc. I hope you can understand the transparency here as there is no owner who can dump the majority of the holdings (as it happens with most altcoins).

Yeah, for sure, there is beyond doubt that currently there are so many alternatives
Which is better than Bitcoin in terms of speed, less fee, etc. due to its service measures, but cannot make itself a worthy attribute like Bitcoin. It is obvious that, apart from Bitcoin, other coins are similar. But in a decentralized ecosystem, the most important point is trust. And if we talk about trust and confidence, Bitcoin is at the top and has become prominent in the eyes of people.

And now if someone claims that I can implement something better than Bitcoin, then he will be right, but even putting all the effort into it, he will not be able to provide something as trustworthy and valuable as Bitcoin. Because Bitcoin has given people a complete guarantee that it is trustworthy despite the day and night interruptions, and now when the new satoshi needs to gain their trust first, they can go for it. Then they can take what Bitcoin has taken. But in fact, it is not possible that he will be able to lower the legacy of the real Satoshi Nakamoto (Bitcoin) and get himself on top.

Can I ask why you are creating multiple threads on the same topic? After that, you created this thread, which is almost the same: https://bitcointalk.org/index.php?topic=5472843.msg63104804#msg63104804

Why are you concerned about the new cryptocurrency? There are a lot of altcoins, and I don't see anything to worry about. It's a normal procedure that something always comes new, and individuals don't welcome everything. Just look at the market and see how many coins exist and how the community has welcomed them. I don't ignore the possibility of a new advanced virtual currency, but that doesn't mean Bitcoin will not exist.
 

Money has been used for making transaction or purchases for who knows how many centuries. Don't you think Bitcoin is better in every way than money? Then why Bitcoin is still struggling to get accepted by every people in the world? The answer is user-friendly and reputation. If I make a new currency and try to use it instead of money, how do you think people will react to that? Do you think they will accept it immediately or it has to be around and prove itself to be worthy?

My point is, Bitcoin has been with us for almost 15 years. It has been around for a long time to create a reputation in which people have faith in it and they are using it as a community. People have already tried creating something similar to Bitcoin but none of them have worked out as good as Bitcoin did. And everyday more and more projects are popping up from thin air in which most of them are scams. How do you think people will take something new that claims to be better than Bitcoin and the most important part, being decentralized.
How can people be sure that the person who invented that is really not going to take control over it? We live in a world where we doubt almost everything and can't trust anything. There will always be people working around the dark. How do you fix that? If it can prove its worth over time, only then people will accept it something as great as Bitcoin or better than Bitcoin.

Everything that is good at first might not actually last and still end up being useless. But if this new innovation gains more advantages than bitcoin, and is seen to be more productive and profitable than bitcoin, then why not? People will eventually rush to study it and invest on it later on. However, we can't expect people to finally leave bitcoin as easy as it is. Bitcoin has been here for more than a decade and until now its still in high demand and still proven valuable and profitable. They might be tempting to engage with this new one but that is only for exploration until proven that its way more beneficial than bitcoin.

There are lots of possibilities that could happen, but in the future, getting something like that can't be done at the moment because of course the most important thing right now is that we also have to pay attention to several other factors such as Popularity and Quality. owned by bitcoin.
Bitcoin is the best at the moment and we know what Bitcoin's popularity is like at the moment and indeed this is supported by the quality that Bitcoin has so that everyone here thinks that Bitcoin is the best because of its quality, although there are no guarantees, its progress is very good for the future.

Now we have seen many projects that are even faster than bitcoin but their popularity and quality are still weak so even though there will be possibilities as you think with developing technology but bitcoin will remain bitcoin that will not disappear for some time to come. for years or even decades because its popularity and quality will still be highly accepted by many people.

For me, its never a threat to the original bitcoin innovation. It needs to prove its utility case first and should exceed the performance and profitability  of bitcoin so that people will be more attracted to invest in it and make it as a priority. However, it may take years for it to happen and for sure, with the high rate of scams in the market, people will be more cautious not to invest and trust into new innovation unless if it can outperform bitcoin and its utility cases in the market.

Definitely, people always go for what they think is better for them. Right from the development of Bitcoin, there's one thing I noted about it, which is consistency in price movement and popularity, but for some other investment means, it has only been a trend that comes and goes. Perhaps a trend can last a while, and before you know it, it's not the same as it was again. Bitcoin is constantly growing, and if there is any technology that can beat Bitcoin, until then, we shall know what will happen. But as far as I know, there are still other forms of investment like real estate, gold, bunds, stocks, etc., but most people still stick to Bitcoin. Even if there is another technology, people will still have their Bitcoin.

It's a free world, no one is stopping them, let them sit down and think of a possible offer that is far better and then introduce it to the world, if we see its something new and different with more better offers, then it will surely boom, just as after the introduction of bitcoin, some so many people have also tried to create their own altcoins to counter bitcoin but they couldn't succeeded, so it's a matter of who is ready to be the next Satoshi and what new thing did he has to offer.

Now the market like Bitcoin has fulfilled multiple coin development but hundreds of projects have vanished from the market. I don't think there will be a competitor to Bitcoin in the near future. Coins like Bitcoin are created but may not be as popular as Bitcoin due to disclosure of ownership. In my view, any coin similar to Bitcoin can enter the market and survive.

There are a lot of promising projects that were born in the market but the problem is they don’t actually last like bitcoin did. That’s why most of the recent projects these days that are out in the market are now imitating the image of bitcoin, not actually to outperform it and replace its position but somehow to be equal in it. But still, bitcoin still end up having the edge and still on top of others.

However, still I am open to a lot of better projects in the crypto market in the near future. Bitcoin will definitely have its certain end and something new will sure to replace on its position, but for now let’s just enjoy the present and the future benefits that bitcoin has to offer.

Bitcoin became as big as it is now not only because of that. There are several factors, and Bitcoin trading occurred a long time ago, through a long process, with exposure to various negative issues. However, trust in Bitcoin has never waned. And if you want to know, currently various other blockchain projects have been developed and produced altcoins with concepts and advantages and several things that they might consider faster than Bitcoin, but in fact they are still unable to replace Bitcoin. because once again, Bitcoin is not just about its speed.

Did Satoshi create Bitcoin out of greed? Where can you think like that? This is really funny.

Don't think about things like this. And this is something that seems quite impossible to happen. If people dump Bitcoin, then all altcoins will also be worthless. I wouldn't think that people would throw away Bitcoin and Bitcoin would disappear in this world and no one would use it anymore. Unless this is something unexpected in the future for a very strong reason.

Protocols currently exist that have much more better (security, performance, etc)  features compared to bitcoin even though decentralization is not their strongest suit. At first, I was a big believer of the "Bitcoin has the first mover advantage" narrative  but overtime, it turned out that Bitcoin is much more than that. So even if someone comes around with a new more shiny tech which has been done a couple of times over so anything else will probably be next in line many others that have come before them.

Technology has proven to be the best solution apporach to challenges faced by humanity, every decade, a certain technology surfaces solving loads of complex problems and faces trying times and when it succeeds, it gets adopted and then goes through another series of challenges associated with regulations, just as Bitcoin currently is undergoing its own phase. If any technology comes up and goes through this process and survives it, the world will embrace it, Bitcoin isnt the first and its not gonna be the last.

This does not rule out the possibility because technology will continue to develop and change. But why here I love Bitcoin which is irreplaceable is because, Bitcoin already existed first, what is lacking in Bitcoin now can be added freely by developers to continue to improve and make it better than before, for new projects that will compete or shifting will certainly be difficult and the possibility is very small for new projects. These new projects may only end up as alternative coins such as ETH, BNB and so on. has its own ecosystem and its own focus.

Not only second Satoshi, but there have been many self pro claimed Satoshi, the two most popular are BCH, RogerVer (https://bitcointalk.org/index.php?topic=5153498.0) and BSV, Craig Wright (https://bitcointalk.org/index.php?topic=5149062.0). The fact many self pro claimed Satoshi's projects are failure, Bitcoin is still the best cryptocurrency.

Even there are new project comes up and claimed better than Bitcoin, it's all depends on us aka people who want to trust with project and where we're going to invest our money.

Many altcoins have come and gone and Bitcoin is still on top. There are coins which many people would consider better than Bitcoin. It isn't enough to just launch a coin with better features. Bitcoin was the first cryptocurrency to really gain traction. That is something that cannot be replicated so any new coin that launches will have to live in Bitcoin's shadow for a long time before it can really become a worthy challenger. Many projects already know it will be nearly impossible to overcome Bitcoin's network effect so instead they choose to carve out their own niche and there are a few that will work on improving Bitcoin.

We are still waiting for a faster, better and more secure blockchain. Bitcoin Cash was supposed to be "faster and better" because of the bigger mining blocks, but it failed. Ethereum was supposed to be "faster and better", but it's not.
Having less transaction fees and faster confirmation time means that such blockchain will have to sacrifice a little bit of the security, which is an instant red flag.
What will happen, when such "better" blockchain appears? Well, the crypto enthusiasts will adopt this blockchain and reduce their usage of BTC and the BTC blockchain. There's no drama here. The world of crypto is competitive and I don't find any problem with this. Bitcoin will remain "the first cryptocurrency" and it will become a legend.

First of all, there are a lot of blockchain technologies out there and many coins, or what we call "altcoins," but why are people still into bitcoin? It's because without the bitcoin that Satoshi builds, there are no other coins or altcoins. In short, all altcoins are based on the technology of bitcoin; they rely on it. For example, all altcoins can be affected by the price movement of bitcoin, and I guess you all know that.

If, for instance, there is another technology that surpasses bitcoin, then I think people will still be in bitcoin because it's not easy to let go of a technology that offers a lot of opportunities, and as long as it is useful, I know bitcoin will never be replaced. There are a lot of possibilities as technology advances in the future; we never know; we can't predict the technology, and that is the most exciting part of it.

The basis or parameter that you care about is just about "blockchain" and there is a lot of blockchain currency that has surpassed BTC. It's just that it's not enough because it's not number one. I think one that could create it would just create something else not necessarily BTC.

If ever it will be replaced by something that could be worth more, it's going to be a change and transfer of wealth again because at the start, it wouldn't be priced higher than BTC at the start but in the long run it could overtake if that happens.

I think what the OP means is that there will be a coin or a solution that is perfect and superior to bitcoin, he is not referring to current altcoin blockchains. That is also possible because the world is constantly evolving and bitcoins are also created from that process. So I wouldn't be surprised if in the future a more perfect solution than bitcoin is born. But we won't know when it will happen just like how bitcoin was born, no one knew until it appeared. So instead of thinking about things that haven't happened yet, we should focus on the reality and the present, which is bitcoin.

If someone develops anything better then it will definitely create an impact. I mean everyone wants the latest and the best thing possible for any object or asset. So people will definitely move from Bitcoins to that new invention. But the most challenging part will be the promotion of the new invention, as if people won’t be able to know about it, then how they gonna use it. But practically creating something better than blockchain or Bitcoins is very hard. But yes it’s a good topic to keep our opinions.

But it's not impossible for BTC to have a successor in the future. It's true that thousands of altcoins have emerged, aiming to be better than Bitcoin, but it's the insincere developers who create their own downfall. We can even witness many attempts driven by greed from new developers. This means that there's still nothing that can surpass the stability of Bitcoin so far.

I've also had thoughts about a new coin that could be widely adopted by people all around the world and regulated fairly. However, it seems challenging for a fully decentralized coin, unless each country shares the same view on cryptocurrency and has a positive mindset about the presence of blockchain technology and cryptocurrency.

It's not only about features to my mind. Bitcoin is so popular that no coin is going to easily replace it, bitcoin is just the king of the jungle named cryptocurrency.

I don't think it's that simplier. Why hasn't Monero changed bitcoin? Monero has absolutely everything that Bitcoin lacks, Monero fulfills every demand of bitcoin users: privacy, security, decentralization, asice resistance. Because of these features, I thought Monero was the best investment option and would become more popular and expensive than Bitcoin but I was wrong. Maybe I am blind but I would love to hear what makes bitcoin a better than Monero?

The first thing is that there have been many crypto-currencies that imagined themselves in comparison to Bitcoin, but so far no coin has shown its performance better than Bitcoin.However it is possible we cannot say that it cannot happen at all. If this happens and there is a coin that performs better than Bitcoin, I don't think it will have much impact on Bitcoin,because each has its own characteristics, even with the presence of Bitcoin, you will find many people investing in altcoins.

Although Bitcoin is currently the safe and best investment option in the entire cryptocurrency market.If someone outperforms Bitcoin, people will prefer to invest in it, but that doesn't necessarily mean people will leave Bitcoin,but these are all fictitious things and assumptions made by us. It will be known at that time if the situation really arises like this.

No, no crypto coin will ever replace Bitcoin. There have been attempts for this for years, but the result is a big disappointment. If you think that alternative crypto coins will replace Bitcoin based only on transaction speed, then you don't understand Bitcoin. We can also solve the speed problem with the Lightning Network. The Lightning Network is in its infancy and still in development. Developers are trying to figure out if it will work as they imagine. If it does, the benefits of Lightning Network technology will make Bitcoin indispensable.

When it comes to the reason for using Lightning Network technology, the answer is actually very simple: scalability. If the network really does solve Bitcoin's main problem, it is likely to be adopted by other cryptocurrencies. In this case, there is the possibility of further development of cross chain exchange technology. This would be the first step towards the creation of truly decentralized cryptocurrency exchanges.

We are all here to tend to seek ways to benefit ourselves, we are not here to adore and worship someone or something. Bitcoin is just one of many financial tools for us to leverage for our benefit and it is not god or deity for us to worship. So if in the future there is a project that is superior to bitcoin and brings more benefits and profits than bitcoin, people will definitely flock to it instead of bitcoin. It's obvious, you don't need to ask anyone.

The use of Bitcoin has now doubled from what it was before. Many other coins came before Bitcoin, maybe those coins were traded then and those coins are gone. But as long as Bitcoin is growing, people's interest in trading it seems to be increasing. I think Bitcoin will become much more popular in the future. Developed countries are now introducing Bitcoin transactions. A restaurant in a big country like Germany has launched transactions with Bitcoin. The use of Bitcoin will increase manifold in the future.

The main problem with this idea is the problem that all cryptocurrencies have faced since Bitcoin.

Bitcoin has a HUGE advantage being the first. Because the mining industry grew up around Bitcoin that made sure Bitcoin was always by far the most secure cryptocurrency. It's not THAT hard to 51% attack the other large PoW chains, because they aren't really that large. That's a main reason we've seen a complete switch away from PoW, because only Bitcoin was really secure using that method.

PoS isn't nearly as good for decentralization and security. So, considering we already have Bitcoin, how would a brand new cryptocurrency rise up to overcome this problem? We already know simply having a faster blockchain is meaningless because most cryptos are faster than Bitcoin. And since security and decentralization of this sort of network comes from its size, there's no way to bootstrap a new cryptocurrency to have that security to start. So even if a fast potentially really secure and decentralized blockchain made altruistically without the goal of controlling it by the founder were to be made, it would have to go through a long period of time of not being decentralized and secure. There just is not really a way to compete with Bitcoin unless a blockchain is already really large, which obviously it can't be because like Bitcoin it would have to grow to be very large. Any creation that could bootstrap itself would by definition have to be coming from a company or govt rather than growing on its own, which of course would then not be decentralized at all.


This is the reason that Bitcoin is likely a "one and done" situation. By which I mean we are never going to get a "second Bitcoin" or a Bitcoin competitor of any sort. Because we already have Bitcoin and there is unlikely any incentive that would allow a later solution to be able to grow to the size at which it could realistically compete with Bitcoin. Anytime someone tries to do this the overriding question would be: "why go with this new thing when we already have Bitcoin?"

By the time the idea of Bitcoin and cryptocurrency is accepted by the masses enough for some small new cryptocurrency to be seen as anything other than a gamble Bitcoin will be so entrenched in society that there will be no reason for anyone to switch. Bitcoin is currently not very accepted by society, most people are very uneducated about it and antagonistic towards it. So certainly some random new crypto is not going to gain acceptance before Bitcoin. But by the time Bitcion is accepted enough for there to be a possibility of some random new crypto to be highly accepted, Bitcoin's acceptance is going to be complete so there will be no reason for people to accept some other much smaller cryptocurrency.

All current altcoins cannot replace or outperform bitcoin, but it would be stubborn to say that in the future there will be nothing better than bitcoin created while the technology world is developing rapidly. Just like governments believed that their fiat currency would never have a rival, or that anyone could not threaten it until bitcoin was created. I am very passionate about bitcoin and have faith in its future, but developments are happening in our world and if something better than bitcoin is created we should not be surprised. But I don't think that will happen anytime soon.

Thank you for this reply. But the truth is that there are other Blockchain technologies that are likely to be faster than the Bitcoin technology and probably even more profitable to small investments, but unlike you say, that does not take a way the technology built by the founder of such invention as any other genius building a similar digital currency will have to tap those ideas from Satoshi's Bitcoin.

And I think that solution to such problems and issues have been created by Satoshi since you do not have to create a new technology outside of Bitcoin with the open source software that Bitcoin was built on. All you just need to do is to contribute to the already existing system through the open source and Bitcoin can be better by your contributions.

Actually that happened already with the founders of Grin (https://coinmarketcap.com/currencies/grin/). They used pseudonyms based on the Harry Potter series to launch their whitepaper, code & blockchain. At least one of them is still active here on the forum, from time to time.

Even though it was based on some novel tech (mimble-wimble) that offered a greater degree of both anonymity and simplicity than Bitcoin, it never really caught on as a cryptocurrency (some blame their choice of tail emission model). Perhaps the most important thing it did was allow Litecoin to integrate Mweb (https://wenmweb.com/) which gives certain LTC transactions more privacy.

Yes that's right. Altcoins still never disappear, in fact there are many technologies that are better than Bitcoin if you look at transaction speed, or you can see from ETH's approach to finance that it is very good. Plus the LSDfi and LSTfi boom with upcoming projects built on eth is crazy. Just look at the ethene laboratory for example. but altcoins still cannot compete with bitcoin. Because bitcoin was created by satoshi with unique technology, no one can imitate the sophistication of bitcoin technology and bitcoin was also created with sincerity at a time when the world economy was not doing well.

Anything can happen in this free world, and the competition is fierce. If we come across a new project that's better than Bitcoin, people might invest in it, and Bitcoin could gradually lose its popularity until the market declines. But that's a worst-case scenario, my friend. Personally, I don't worry about the future because it's all uncertain. My advice is to enjoy the benefits Bitcoin offers while we can. If the time comes for it to be replaced, we'll have enough to invest in a new project.

Why do you consider that the worst case scenario? If that happens, we should be happy because we will get a more perfect version of bitcoin that will bring greater benefits to us. After all, Satoshi created bitcoin because he was fed up with the way governments ran the world, the devaluation of fiat currencies...so he created bitcoin to overcome those shortcomings. And if someone inherits Satoshi's thinking to create something more perfect, why do we consider that a bad thing?
But you're right, that hasn't happened yet and we only have bitcoin for now, so enjoy bitcoin while waiting for a better version of bitcoin.

Monero is a great coin, I like it too. But imho it's, by far, less secure than Bitcoin. Monero doesn't have the huge mining businesses built around it and there used to be words here and there about botnets mining it, which have the potential of gathering too much hashing power in one organization's hands. And because of this, Monero is not a strong enough competitor to Bitcoin.



Just faster and maybe sometimes (!) more profitable is not good enough. And Bitcoin's security is harder to beat every passing day.
Ethereum came with smart contracts. Monero came with privacy. But they are not a significant (or significant enough) leap forward from Bitcoin. And they didn't gather the proper mining support for becoming bullet proof from security point of view.


Of course that this is the most straightforward way to help. Ideas like what Satoshi had don't come every decade.

OP asked if people would get rid of their Bitcoin if something like this happened. I think it's the worst situation for investors because just imagine, Bitcoin is already worth more than $600 billion in marketcap, and all that money could disappear if a new cryptocurrency or a better one is created.

I'm open to making changes to improve the system, but we should also be prepared for when that time comes. We're not just holding onto Bitcoin for no reason. It's important to get our investment back and maybe even make some profit before Bitcoin loses its value.

It would also have to be a technology that Bitcoin could not implement because Bitcoin has something that many of the other contending networks lack and that is a vibrant, global and continuously growing ecosystem. This won't just be ported to a different network. So maybe this new technology pulls miners / part of the network over from Bitcoin, but for how long will the new network offer competitive profitability when whatever the rewards are to maintain the network have to be shared by a growing pool of contributors?

There is a lot of things that would have to happen in order for Bitcoin to be replaced. It would have to be something entirely new that Bitcoin itself could not integrate into its protocol and at the same time boast incentive structures that offer rewards which sustainably outcompete what Bitcoin has to offer. I think Satoshi ha worked something out that's here to stay for a while. But of course in the field of technology, many things are just a question of time.

There are already lots of blockchain networks that are faster and cheaper than bitcoin. Look at all of its hard-forked coins. Every time dev saw a problem with the bitcoin network and they couldn't change the core network they tried to create a fork that could work better than bitcoin. Are they more popular than bitcoin right now? There are some obvious reasons why bitcoin is still dominating.

What satoshi nakamoto created was unique and any upgraded version of his idea will not get the recognition that bitcoin has. Bitcoin was created to give people financial freedom. If someone comes up with a better idea that can reach this goal in a better way then there is no point in using that instead of bitcoin but it needs to be unique, not an idea copied or inspired by bitcoin. With a new technology and concept we can have a bitcoin competitor, but do we really have that technological advancement now? I don't think so.

I don't know why you are asking that question but as you can see when Bitcoin started noticed by people and now many people are using it but when they use it they have something they want like much faster transaction getting confirmed and that's the start of new cryptocurrency being created and it is now called altcoin or as an alternative of the current crypto called Bitcoin. Of course, that altcoin have its own blockchain.  I am sure if you make some research then you'll see that there are other crypto that have their own blockchain or doesn't depend on other blockchain just like tokens where it depends on ethereum own's blockchain.