How can the blockchain be used to create better currency than Bitcoin?

[Possum577]

How can the blockchain technology be used to create better currency than Bitcoin?

Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?

[jonald_fyookball]

How can the blockchain technology be used to create better currency than Bitcoin?

Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?

There are thousands of alternative cryptocurrencies (alt coins).

Some folks (mostly those with a vested interested) say they are superior to Bitcoin. 

You can see a few here:
https://en.bitcoin.it/wiki/Comparison_of_cryptocurrencies

And do the research on them if you want.  I'm sure you'll get a million opinions here.

[Eastfist]

I don't get why people want to get rid of Bitcoin. The unit of measure for the blockchain is called "Bitcoin". You can attach any object of value to it, in this case, I think people are associating Bitcoin with money. Bitcoin and blockchain are one in the same, inseparable. That's like saying you want to destroy packets and replace it with something new but still use the Internet. So you start calling packets "net baggies", then "digipings", then "bleepbloopbloops". It's all the same, rebranding it doesn't change the implementation and protocol and terminology.

[1Referee]

How can the blockchain technology be used to create better currency than Bitcoin?

Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?

Ahum.....

There is an altcoin section here in this forum if you didn't know. 

[Possum577]

How can the blockchain technology be used to create better currency than Bitcoin?

Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?

Ahum.....

There is an altcoin section here in this forum if you didn't know.  

To the casual user NONE of the alt coins are an improvement upon bitcoin, if they were they'd have attracted the bitcoin economy and community. Instead all alt coins are mere inferior alternatives from the current dominant choice.

I don't think bitcoin can or should be replaced...but I'm also not as wise as many others here on the depths of the technology, which is why I asked the question.

Thanks for the responses so far!

[1Referee]

How can the blockchain technology be used to create better currency than Bitcoin?

Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?

Ahum.....

There is an altcoin section here in this forum if you didn't know.  

To the casual user NONE of the alt coins are an improvement upon bitcoin, if they were they'd have attracted the bitcoin economy and community. Instead all alt coins are mere inferior alternatives from the current dominant choice.

I don't think bitcoin can or should be replaced...but I'm also not as wise as many others here on the depths of the technology, which is why I asked the question.

Thanks for the responses so far!

You got that right. Bitcoin can't and won't be replaced.

Investors, large companies and services are cooperating with Bitcoin by offering it as form of payment or investing in mining hardware and startups.

They do that because of the potential, safety and security of the network. The network is only getting stronger, thus, even more secure.

[Possum577]

How can the blockchain technology be used to create better currency than Bitcoin?

Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?

I think all altcoins already have a blockchain. So how is the question relevant to the bitcoin one  ?

I think the question is only relevant to bitcoin. The altcoins don't push the technology any further, the copy the bitcoin technology. The question is could the bitcoin technology evolved to something better than bitcoin. The consensus so far is "no", it can't really be evolved into something better, it's pretty damn good as it stands!

Keep the thoughts coming, if others are out there.

[Beliathon]

How can the internet be used to create a better protocol than HTTP? It can't.

[Possum577]

How can the internet be used to create a better protocol than HTTP? It can't.

NICE! That's the kind of response I'm looking for, thank!

Either definitive "it can't" or definitive "here's what's likely to happen"...

[ChuckBuck]

You can't separate the blockchain from Bitcoin, they're one and the same.  Satoshi created one with the other in mind.

That said I think the OP is referring to those alt chains for those alt coins that have different features or functions, different confirmation times, Proof of Stake, etc.

You can't create better currency than Bitcoin from the original blockchain.  Next question.

[Beliathon]

You can't separate the blockchain from Bitcoin, they're one and the same. 

This. The network is secured by miners, the miners are incentivized by the value of the currency. The two are inextricably linked.

[BADecker]

Get rid of the Bitcoin protocol; only keep the blockchain.

Make the blockchain the ledger that it is, with openess, and people's names and SSNs attached to their transactions.

Let people who do transactions, manually check at Blockchain.info for the blockchain identities of all the people they do business with.

This whole idea would simply be an open, manual, readable in english or other languages, ledger type of blockchain.

[Mr Crabs]

How can the blockchain technology be used to create better currency than Bitcoin?

Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?

Ahum.....

There is an altcoin section here in this forum if you didn't know.  

To the casual user NONE of the alt coins are an improvement upon bitcoin, if they were they'd have attracted the bitcoin economy and community. Instead all alt coins are mere inferior alternatives from the current dominant choice.

I don't think bitcoin can or should be replaced...but I'm also not as wise as many others here on the depths of the technology, which is why I asked the question.

Thanks for the responses so far!

You got that right. Bitcoin can't and won't be replaced.

Of course it can. All you need to do is offer something that was better than bitcoin. This is like saying the Vinyl record can't be replaced. It has been replaced by CDs and then Mp3s replaced that. All you need to do is come up with the idea. I think bitcoin does what it needs to do well but it could always be improved and there are plenty of people trying to figure that out. It's not too big to fail or die that's for sure.

[1Referee]

How can the blockchain technology be used to create better currency than Bitcoin?

Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?

Ahum.....

There is an altcoin section here in this forum if you didn't know.  

To the casual user NONE of the alt coins are an improvement upon bitcoin, if they were they'd have attracted the bitcoin economy and community. Instead all alt coins are mere inferior alternatives from the current dominant choice.

I don't think bitcoin can or should be replaced...but I'm also not as wise as many others here on the depths of the technology, which is why I asked the question.

Thanks for the responses so far!

You got that right. Bitcoin can't and won't be replaced.

Of course it can. All you need to do is offer something that was better than bitcoin. This is like saying the Vinyl record can't be replaced. It has been replaced by CDs and then Mp3s replaced that. All you need to do is come up with the idea. I think bitcoin does what it needs to do well but it could always be improved and there are plenty of people trying to figure that out. It's not too big to fail or die that's for sure.

Perhaps I should have defined my previous post a little bit better.

I meant to say that at this point any "new" created Bitcoin alternative won't stand a chance against the success of Bitcoin.

Bitcoin ejoys a massive amount of support worldwide. It's not likely that this will change in the comming years.

But you're right, it's not too big to fail. Perhaps in the long future there will be something better.

[croato]

Guess you can have altcoins faster or with some fancy feature like better anonimity and use them for some purposes but Bitcoin will allways be main crypto in my opinion.

[thejaytiesto]

One of the main features for a coin to be solid is the network effect. Only Bitcoin has that, the rest aren't worth it otherwise people would move.