Mr.grin
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December 22, 2016, 10:05:32 PM |
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see bitcoin price is very high for this time, it is very difficult to think that bitcoin will be replaced by altcoin. today, most users cryptocurrency, focusing their goal to be able to get bitcoin more, and I'm sure they utilize altcoin to be able to have a lot of bitcoin. Well, because I do that too.
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cjmoles
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December 22, 2016, 10:07:32 PM |
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As long as bitcoin has a community to support it, then bitcoin will never become obsolete. It's the community behind bitcoin that makes the bitcoin network so much stronger than its counterparts. However, if something happened to cause the community to lose confidence in the protocol, then the network would be effected negatively which might drive the community to support an alternative chain. Maybe someday a technology will provide us with a more robust network, but I don't see the community giving up on bitcoin on a magnitude that would cause it to become obsolete. There will always be somebody who is holding a stake large enough to be motivated to maintain the security of the network and that's all it takes.
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couldbeangel
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December 22, 2016, 10:53:32 PM |
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and the coin that replaces bitcoin we be replace too
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South Park
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December 23, 2016, 11:08:37 PM |
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It is possible bitcoin may be replaced but to become obsolete it will need lots of things like the devs not doing their job of developing new solutions to the current problems that bitcoin faces, besides as long as we have confidence on it someone will keep using bitcoin.
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MicroGuy
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December 23, 2016, 11:41:08 PM |
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It is possible bitcoin may be replaced but to become obsolete it will need lots of things like the devs not doing their job of developing new solutions to the current problems that bitcoin faces, besides as long as we have confidence on it someone will keep using bitcoin.
But because the devs of bitcoin has strong determination and has been doing hard work to make bitcoins success and they have contributed a lot of on what it is happening now with it. And also because of us, users who are faithfully using bitcoin. It reaches to the top as the main used crypto currency and most of the crypto's that are next to it just copied the idea of it. The rising tide of cryptocurrencies is much like the occurrence of various makes and models of automobiles. The only difference is, many of us don't believe in choking off the main chain and limiting its throughput and horsepower. |
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jacobmayes94
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December 23, 2016, 11:42:16 PM |
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Unless Bitcoin comes to a consensus on the scaling issue, then I see another cryptocurrency replacing it as a PAYMENT system but not as a store of wealth or very large transactions.
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chennan
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December 24, 2016, 05:17:06 AM |
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Unless Bitcoin comes to a consensus on the scaling issue, then I see another cryptocurrency replacing it as a PAYMENT system but not as a store of wealth or very large transactions.
I mean you are more than likely right... As of right now it is pretty well known that Bitcoin keeps the altcoin markets "sane" in that they are a good tool for referencing the real time worth of an altcoin. Bitcoin is valuable, primarily because the cryptocurrency system depends on that. The only thing that can be a downfall to Bitcoin in terms of how people value it, is that it isn't a physical asset that has inherent properties that makes it valuable. All of the value given to Bitcoin is no better than what gives fiat value... it's value comes from trust, and if there ever comes a point where people can't trust the Bitcoin network anymore there will be chaos not only in the Bitcoin ecosystem, but every single cryptocurrencies ecosystem. |
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cjmoles
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December 24, 2016, 06:52:46 PM |
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Unless Bitcoin comes to a consensus on the scaling issue, then I see another cryptocurrency replacing it as a PAYMENT system but not as a store of wealth or very large transactions.
I mean you are more than likely right... As of right now it is pretty well known that Bitcoin keeps the altcoin markets "sane" in that they are a good tool for referencing the real time worth of an altcoin. Bitcoin is valuable, primarily because the cryptocurrency system depends on that. The only thing that can be a downfall to Bitcoin in terms of how people value it, is that it isn't a physical asset that has inherent properties that makes it valuable. All of the value given to Bitcoin is no better than what gives fiat value... it's value comes from trust, and if there ever comes a point where people can't trust the Bitcoin network anymore there will be chaos not only in the Bitcoin ecosystem, but every single cryptocurrencies ecosystem. All this is true. But, there are aspects of bitcoin, and the blockchain technologies in general, which I believe are being overlooked by many. The power of a decentralized system which maintains a distributed ledger has potentials that are only now being understood and realized. Those technologies which are capable of taking advantage of these newly realized potentials may very well take over the markets. It's hard to ignore the turing complete blockchain protocols from that perspective. Decentralized applications, autonomous digital business platforms, smart contracts, botnets, information analytics...etc, may seem futuristic to many but they are already in development....It's an exciting space! |
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marseille
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December 24, 2016, 06:57:29 PM |
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99% chance that bitcoin will be the master in cybercoin space, because of the wide adoption and big interests already established that it is virtually impossible to change. That 1% could come with some really fatal issues which is not very probable.
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KingdomHearts
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December 24, 2016, 08:06:04 PM |
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bitcoin would be never replaced by another currency because there is bitcoin is very much useful currency and a lot of people trust on bitcoin and we know bitcoin is very safe and secure currency than other crypto currencies.
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StarofBTC
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December 25, 2016, 08:10:48 AM |
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I can't imaging any other cryptocurrency to replace bitcoin, it can't be possible. Or if it is people will trust it less then bitcoin. BTC made a very long trip to get here as it is and I think the people will not happen something like that
It is true that no other cryptocurrency can replace bitcoin, but as bitcoin becomes more and more harder to mine and more expensive to buy people will start to search for an alternative, which they are already doing it by mining altcoin like Lite coin or Dogecoin, but most of the people mining altcoin usually end up exchanging them to bitcoin. |
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avikz
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December 25, 2016, 02:00:37 PM |
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I don't see any immediate chance of it happening but in future, it will happen. Probably after 2023 when bitcoin will be exhausted, then another crypto currency will have to take over to number one position by replacing bitcoin. But that is not happening soon.
Bitcoin, being a pioneer in crypto currency market, is already enjoying the highest market cap and global people's trust. So that is not going to changed overnight. Slowly but surely it will happen and probably only after 2023.
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Kray
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December 26, 2016, 03:14:45 AM |
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No it's not possible because bitcoin is father of all cryptocurrency and when a new user hear about digital currency thrn bitcoin comes first. And you can see majority of the website accept bitcoin but not other coins. Abd also bitcoin is in top most position.
Even it's possible it will cost million dolar |
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boyptc
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December 26, 2016, 03:20:34 AM |
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No it's not possible because bitcoin is father of all cryptocurrency and when a new user hear about digital currency thrn bitcoin comes first. And you can see majority of the website accept bitcoin but not other coins. Abd also bitcoin is in top most position.
Even it's possible it will cost million dolar And the first in the line will always be first and the only way that bitcoin will ever replaced when it has doesn't any value at all. But if that happens then for sure there are a lot of crypto's that are not able to get that position. It is very impossible for now that it is going to be replaced by another crypto's but still we don't know what will happen in future. |
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cjmoles
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December 26, 2016, 03:28:53 AM |
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I can't imaging any other cryptocurrency to replace bitcoin, it can't be possible. Or if it is people will trust it less then bitcoin. BTC made a very long trip to get here as it is and I think the people will not happen something like that
It is true that no other cryptocurrency can replace bitcoin, but as bitcoin becomes more and more harder to mine and more expensive to buy people will start to search for an alternative, which they are already doing it by mining altcoin like Lite coin or Dogecoin, but most of the people mining altcoin usually end up exchanging them to bitcoin. Yes....people do usually convert their altcoin profits back to bitcoin but then they convert the bitcoin back to dollars. It's one giant cycle where each instance bootstraps its value off the other. Someday, there will be another digital currency that takes the place of bitcoin, but its value will still be bootstrapped to bitcoin in the same way the value of the altcoins are bootstrapped to it. |
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agamasrori
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December 26, 2016, 03:36:18 AM |
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I don't see any immediate chance of it happening but in future, it will happen. Probably after 2023 when bitcoin will be exhausted, then another crypto currency will have to take over to number one position by replacing bitcoin. But that is not happening soon.
Bitcoin, being a pioneer in crypto currency market, is already enjoying the highest market cap and global people's trust. So that is not going to changed overnight. Slowly but surely it will happen and probably only after 2023.
I think bitcoin will not replaced by another cryptocurrency as long as there is strong community that support bitcoin, there are a lot of people who use bitcoin as payment system in deep web. Also I think its really hard to replace the pioneer. |
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bncbnc
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December 26, 2016, 01:37:45 PM |
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I don't see any immediate chance of it happening but in future, it will happen. Probably after 2023 when bitcoin will be exhausted, then another crypto currency will have to take over to number one position by replacing bitcoin. But that is not happening soon.
Bitcoin, being a pioneer in crypto currency market, is already enjoying the highest market cap and global people's trust. So that is not going to changed overnight. Slowly but surely it will happen and probably only after 2023.
I think bitcoin will not replaced by another cryptocurrency as long as there is strong community that support bitcoin, there are a lot of people who use bitcoin as payment system in deep web. Also I think its really hard to replace the pioneer. bitcoin is becoming more stronger as time passe, its community is also increasing from time to time. so bitcoin is not going to be replace by any other cryptocurrency. as bitcoin is still number one currency of the world. |
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alyssa85
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December 26, 2016, 02:23:57 PM |
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Unless Bitcoin comes to a consensus on the scaling issue, then I see another cryptocurrency replacing it as a PAYMENT system but not as a store of wealth or very large transactions.
Agree. Also the concentration of bitcoin mining in China is very concerning - it is not what Satoshi envisaged, and it could be a major drawback if China turns difficult. |
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OrangeII
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December 26, 2016, 02:28:02 PM |
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I don't see any immediate chance of it happening but in future, it will happen. Probably after 2023 when bitcoin will be exhausted, then another crypto currency will have to take over to number one position by replacing bitcoin. But that is not happening soon.
Bitcoin, being a pioneer in crypto currency market, is already enjoying the highest market cap and global people's trust. So that is not going to changed overnight. Slowly but surely it will happen and probably only after 2023.
I think bitcoin will not replaced by another cryptocurrency as long as there is strong community that support bitcoin, there are a lot of people who use bitcoin as payment system in deep web. Also I think its really hard to replace the pioneer. bitcoin is becoming more stronger as time passe, its community is also increasing from time to time. so bitcoin is not going to be replace by any other cryptocurrency. as bitcoin is still number one currency of the world. agree with you. bitcoin is getting stronger by the day. it would make more cryptocurrency not have a chance to replace bitcoin. altcoin actually more and more users, the more users bitcoin, because I feel that they will seek to build altcoin, just to make bitcoin they have increased. |
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novemberwoah
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December 26, 2016, 02:40:44 PM |
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There are many crypto now and all competing. Possible bitcoin replaced by other crypto that could happen. If at any time there is crypto developed more than bitcoin sure many people are turning and bitcoin could be obsolete. All can occur depending on the development of each of crypto in the future. But I believe bitcoin will be able to compete so it is not possible to be replaced by other crypto. Because bitcoin will continue to maintain its reputation as the best crypto.
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