Will An Altcoin Ever Surpass the Value of Bitcoin?

[MicroGuy]

Or become a respectable fraction of the value of Bitcoin; forget becoming equal or surpass its value.

Its been six years, maybe 2000 odd me-toos. Is it time to give up? There is usually a time to stop trying on a new business ideas (or clone).

The simple thought I have is we really can't have an altcoin close to the value of bitcoin, why do we (as a community) continue to waste our time (and money/resources) with more and more new altcoins.

Please share your valuable thoughts.

Thanks

Yes. The future of digital currency will include coins, like GoldCoin (GLD), which could possibly surpass Bitcoin in usage, popularity, and valuation.

But I don't think the existing clones will fare well. The community simply needs to continue consolidating development, narrowing down the field, and focusing on coins that have unique design and innovation. I think it's important to improve on bitcoin and gain prominence through better coding.

We'll be inviting many of you over to our team once the new multi-coin java client is released later this month.

[Gabri]

I don't think any coin will ever surpass btc.

[Bit_Happy]

I love Bitcoin, but it is tainted by an extreme imbalance in the early distribution, so there is room for other currencies to thrive in the future.

[TaunSew]

I love Bitcoin, but it is tainted by an extreme imbalance in the early distribution, so there is room for other currencies to thrive in the future.

That's ponzi 101 - create a huge imbalance in the distribution and walk away rich.  Satoshi mined well over a million coins, as did other early adopters, who then mostly refrained from selling and this induced scarcity is what gave Bitcoin its' value.  A widely distributed Bitcoin, or a Bitcoin with Doge inflation over 6 years, likely would be nothing today.

[stellar1]

Thanks for some very wise inputs. I am sure more will roll in.

Speculation apart, the 2000 odd me-too clones have spent 6 years bouncing. Lets forget the Gates and the VCs of this world (they talk and change their talk depending on where their money is currently stuck, and charity is always done after receiving the net profits; never the other way round). Do we want to give the clones 60 years to demonstrate their possible upmanship over bitcoin ?

In the meanwhile how about "officially" classifying all altcoins into a "For R&D or Manipulation or DayDreaming purposes only" category? Because that seems to be their sole purpose, going by practical market reality.

[Daedelus]

You're free to classify them as you please.

[doc12]

I think bitcoin will be somethink like a very rare asset in the future, not for payment. But it will stay the most valuable blockchain ...