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Author Topic: which altcoin would be bitcoins likely replacement ?  (Read 4802 times)
CrypticTrader
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January 13, 2016, 04:54:38 AM
 #41

Why does any coin need to replace Bitcoin? as I see it they all can work together.
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January 13, 2016, 05:27:59 AM
 #42

Why does any coin need to replace Bitcoin? as I see it they all can work together.

... because the current adoption level of Bitcoin is hard coded into the Bitcoin protocol. It is called the 1 MB blocksize limit.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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January 28, 2016, 10:54:32 AM
 #43

Why does any coin need to replace Bitcoin? as I see it they all can work together.

... because the current adoption level of Bitcoin is hard coded into the Bitcoin protocol. It is called the 1 MB blocksize limit.

The 1MB blocksize limit will kill bitcoin. It is no use for daily transaction. More transaction capacity is required.
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January 28, 2016, 11:05:33 AM
 #44

Why does any coin need to replace Bitcoin? as I see it they all can work together.

... because the current adoption level of Bitcoin is hard coded into the Bitcoin protocol. It is called the 1 MB blocksize limit.

What does that have to do with the price of chicken in china?

Is there only one currency in the world? NO


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January 28, 2016, 01:15:21 PM
 #45

Even with the 1mb blocksize that doesn't necessarily mean Bitcoin will die though.  All it would mean would be a change in the long term goal.  It may not be any use for daily transactions but it would still make a great store of value similar to gold.

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January 30, 2016, 05:03:50 AM
 #46

There is the eMunie crypto currency that will be having an Open Beta and IPO within just a couple of months or less.  It will have an actually working client with multiple functionality. One of the features is a working Debit card directly to the eMunie live network.  Also, the client will eventually be able to run on just about any computer or mobile device, even a flip phone will be able to run a mobile light client.

Regarding bitcoin, I see it and litecoin staying around as stores of value or like gold and silver, for awhile.  But, because of the 1M blocksize limit, the daily transactional use of bitcoin has just about seen it hay day.  Now that litecoin can be mined with ASICs, I see it eventually going down the same road as bitcoin and becoming centralized by wherever cheap power is located, ie China.
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January 30, 2016, 06:46:42 AM
 #47

Don't give up on bitcoin yet,every body who had stake on bitcoin are working it out,bit if you are going to include more coins,litecoin,dogecoin and ethereum are the best choice you can also add bytecoin it's a dark horse and worthy of your bet they are very cheap now and could yield you a good investment in the future...


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January 30, 2016, 10:49:37 AM
 #48

Between Litecoin and Dodge as a replacement for BItcoin if BItcoin runs into trouble, I would pick Doge. The reason Doge has a tail emission. The biggest challenge facing Bitcoin today is the 1 MB blocksize limit. What many do not realize is that the reason why there is so much division among the Bitcoin developers is that there is no simple solution to this problem. Simply increasing the blocksize only kicks the can down the road. The issue is how do you secure Bitcoin once the block subsidy runs out? This is why many are so reluctant to increase the blocksize in order to make the blocksize a scarce commodity to ensure that there are enough transaction fees to secure the network.

We are paying 3600 BTC a day to secure this network. Paying the miners 25 BTC every ten minutes.
Compare with Bitcoin Number Of transactions Per Day:
https://blockchain.info/charts/n-transactions?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
(been about 227.000 transactions at 12/15/2015)
(picking a best case scenario, on a day with merely 1 transaction the numbers are staggering)

On the same day we had 466 USD / BTC on Bitstamp, so 3600 * 466 = 1.677.600 USD to be paid for 227.000 transactions processed.

1.677.600 USD / 227.000 transactions = 7.39 USD and I tend to believe that seven dollars is enough postage payable for a single "Bitstamp" why heading for an even more expensive transaction fee? I cannot afford to pay seven dollars postage and packaging when sending a single dollar to somebody.
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January 30, 2016, 03:40:50 PM
 #49

Very difficult to tell. Probably none of the existing ones. Ether has good chances, but there are three very interesting Newcomer:
eMunie,
Decred
IOTA

We will see!

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January 30, 2016, 03:50:29 PM
 #50

Bitcoin will stay the number one coin for the next years, probably for the next decades. But there are some good projects which could be successors or even good competitors. In my opinion, those projects are Ethereum, NEM, NXT, Counterparty (uses the Bitcoin blockchain) and Emercoin. I also believe that Qora is playing a good role, even it is has some troubles at the moment.



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January 30, 2016, 03:56:09 PM
 #51

none of them are going to replace bitcoin.














 

 

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January 31, 2016, 01:57:26 AM
 #52

Iota

Read guys
Read and educate yourself
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January 31, 2016, 02:36:06 AM
 #53

Iota

Read guys
Read and educate yourself

That's how Iota's Blockchain looks alike. Every new block has 2 references pointing at 2 older blocks somewhere back in time. Except Blocks two, three and four of course since they have only one Block to point at, the Genesis Block. Maybe you could explain the fundamentals for us laymans?

A Tangle is a Directed Acyclic Graph (DAG).
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January 31, 2016, 02:39:14 AM
 #54

NOT ANY ALTCOIN WILL REPLACE BITCOIN OR GET AT THE SAME LEVEL WITH BITCOIN PEACE Smiley
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January 31, 2016, 08:13:54 PM
 #55

Iota

Read guys
Read and educate yourself

That's how Iota's Blockchain looks alike. Every new block has 2 references pointing at 2 older blocks somewhere back in time. Except Blocks two, three and four of course since they have only one Block to point at, the Genesis Block. Maybe you could explain the fundamentals for us laymans?

A Tangle is a Directed Acyclic Graph (DAG).



That's right there is no blockchain and a tangle brings with it many innovative benefits.

Read the threads guys.

If you want to really learn whats coming next
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January 31, 2016, 10:09:17 PM
 #56

It will either be Ethereum or Stellar.
Those are currently the only coins that can challenge bitcoin.
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February 01, 2016, 01:00:48 AM
 #57

That's right there is no blockchain and a tangle brings with it many innovative benefits.

Read the threads guys.

If you want to really learn whats coming next

Many? Mostly these two: New Blocks dont need to wait for timing ... like ten minutes. It can come into existance immediately, there is no block timing. Another advantage is parallelism, in between the same second several Blocks can be created. Blocksize is loosing relevance, this can scale indefinitely.

Disadvantages? Open to discuss, I am still stuck inside their white paper. Tangles seemingly are a way to somewhat secure huge amounts of data from tampering, that does not qualify for storage of value.

Psychology: Imagine your house door locks are opening in between the split parts of a second. Maybe even on proximity of your cellphone or a transponder chip. Would be very convenient ... but ... my firm believe people do not associate "security" with some such fast mechanism. More leaning against locks that do a lot of show time before opening. That's what we mortal humans do associate with security.

The faster a coin is capable to perform a transaction, the less confidence users will wager for its security. This is stupid, I know.

Some Alts changed their blocktimes during their livetime, somehow reflecting the above observation. Feels a tad sad that "stupid psychology" has an impact on these innovative things.
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February 07, 2016, 10:08:23 AM
 #58

It will either be Ethereum or Stellar.
Those are currently the only coins that can challenge bitcoin.

It will not be Stellar. It is centralized. Ripple is more popular than Stellar.

I think Ethereum will be the biggest altcoin.

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February 07, 2016, 10:12:31 AM
 #59


It will not be Stellar. It is centralized. Ripple is more popular than Stellar.

I think Ethereum will be the biggest altcoin.

Ethereum is not an altcoin and neither is ripple. Therefore eth/xrp do not qualify as a bitcoin replacements.

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February 08, 2016, 12:28:48 AM
 #60

Iota

Read guys
Read and educate yourself

That's how Iota's Blockchain looks alike. Every new block has 2 references pointing at 2 older blocks somewhere back in time. Except Blocks two, three and four of course since they have only one Block to point at, the Genesis Block. Maybe you could explain the fundamentals for us laymans?

A Tangle is a Directed Acyclic Graph (DAG).



That's right there is no blockchain and a tangle brings with it many innovative benefits.

Read the threads guys.

If you want to really learn whats coming next

IOTA looks very promising, probably the most innovative digital currency of 2016.
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