Will Bitcoin be replaced by another cryptocurrency?

[deisik]

It is 2017,people have already fallen victims to government's policies.They wouldn't miss a chance to revolt against the government ways of controlling their power/money (both are the same either way).Fiat is really dead long time back when credit/debit cards replaced the traditional exchange method.It's a matter of days until the remaining disappears too

Honestly, I don't quite understand your point

If what you say were true (i.e. people not missing a chance to revolt against the government and its ways), we would have already seen Bitcoin taking over fiat. But this didn't happen, and it is nowhere near to happen in the foreseeable future. I guess you should make a few reality checks. Regarding payment cards, they are only methods of payment and they can't possibly threaten fiat since it is basically the same fiat whether you pay with cash or via these cards. You can just think of such cards as just another form in which fiat money exists (paper bills, coins, bank accounts, etc)

[Senor.Bla]

If there is another crypto better than BTC yes,it can be replaced,the thing is it has to better than it and attract more people to it so it gains its proper market and volume so it doesn't crash,I definitely think that this can happen,however BTC is really well known and is the most famous cryptocurrency so for another one to take its place over it has to be significantly better and offer something unique

What's better for you?
It depend of your needs.

I think bitcoin will stay longer on top because none try 51% attacks on the blockchain and this like that, this coin have a lot of respect from all and others alts always will have haters.

funny how everybody always brings the argument that bitcoin is the most known coin and therefor will be not replaced. but how many people of the general public know bitcoin? not even 95% and we are not better then 1% when it comes to who has some bitcoins. so i do not understand how people can not imagine that maybe a big and known institution (maybe a bank) comes along bring out some coin (it does not even have to be better. it can be shitty) makes a huge marketing campaign and becomes more famous then bitcoin. shops that were afraid of using bitcoin will be suddenly open to it and this is how the story ends for bitcoin.

Banks would never create a currency with the decentralisation of Bitcoin.  They like to keep control over money.  The reality is that if they did create an online currency it would not have many of the features which made Bitcoin so popular amongst internet users and thus Bitcoin's community would stay strong.

As for altcoins, the improvements which they make to the Bitcoin network are minor and even they accept being secondary to Bitcoin - Litecoin, one of the biggest, wants to be the silver to Bitcoin's gold.  Unless Bitcoin becomes genuinely obsolete, which we should not worry about in the near future,  its community and, thus, its value is safe.

Do you still use Yahoo and nepster? Because once not to long ago they where leading pioneers at their field. If you really think that Bitcoin is safe, then you will be one of those who cry afterwards and never saw it coming. That Bitcoins value is safe like (whatever that means. is a 20% drop still safe value?) you said, does not mean it can not be replaced as number one crypto by some other cryptocurrency.

[bob123]

In the future there may be a crypto currency (based on blockchain technology) made by Banks and governments.. which may replace Fiat Money...
But as long as no (usable and cheap) attacks against BTC are possible.. i don't think some Cryptocurrency will replace BTC in its todays stage.
To let another Cryptocurrency replace BTC, there must be something which every BTC user wants.. so they leave BTC for some other Currency..
Kinda unrealistic regarding the todays BTC price.

[Harlot]

It is 2017,people have already fallen victims to government's policies.They wouldn't miss a chance to revolt against the government ways of controlling their power/money (both are the same either way).Fiat is really dead long time back when credit/debit cards replaced the traditional exchange method.It's a matter of days until the remaining disappears too

Honestly, I don't quite understand your point

If what you say were true (i.e. people not missing a chance to revolt against the government and its ways), we would have already seen Bitcoin taking over fiat. But this didn't happen, and it is nowhere near to happen in the foreseeable future. I guess you should make a few reality checks. Regarding payment cards, they are only methods of payment and they can't possibly threaten fiat since it is basically the same fiat whether you pay with cash or via these cards. You can just think of such cards as just another form in which fiat money exists (paper bills, coins, bank accounts, etc)

Guess what you need for having debit in your account? Fiat is what being used to be the balance in your debit account? Guess what kind of payment you need to pay your credit card bills? Fiat is the mode of payment to pay of your bill with your credit card. And he is right there is no point in your statement because Fiat up to this date is being use in both debit and credit transactions.

[dothebeats]

Bitcoin might have pioneered the rise of cryptocurrencies but there is no guarantee that bitcoin would stay afloat especially there had been many good altcoins right now that also has better or improved features compared to what bitcoin has right now. Also take into consideration that there are some problems right now in terms of how should we move forward from what we have right now, so consensus might also be a problem in the future and an edge of different other altcoins.

[Eodguy149]

I think that it is definitely possible. While Bitcoin has a huge first mover advantage, if issues like scaling are solved in a better and more efficient way, or state level actors adopt something else I feel that there is a large chance it could lose its spot as the highest market cap crypto. Competition is good, I'm definitely watching how this space develops closely!

[ASHLIUSZ]

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

[delliaerd]

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

I think Altcoins were created by so many reason. Some altcoins is created by the developers that just wanna get profit from dump and pump of their coin then when the coin dump to the end they are run away. some altcoin created by the developer that want to make better technology such as eco friendly algorithm, lower energy usage or faster transaction. But the fact is no altcoin can  replace bitcoin now, most of people who use crypto currency are believe that bitcoin will never die/dump.

[Calangaman]

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

I think Altcoins were created by so many reason. Some altcoins is created by the developers that just wanna get profit from dump and pump of their coin then when the coin dump to the end they are run away. some altcoin created by the developer that want to make better technology such as eco friendly algorithm, lower energy usage or faster transaction. But the fact is no altcoin can  replace bitcoin now, most of people who use crypto currency are believe that bitcoin will never die/dump.

I disagree
There are 2 main concerns about Bitcoin at the moment that will take years to be fixed:
- size of blocks and speed of transactions
- anonymity

Even if BTC will remain the standard for years, it is no surprise that altcoins bringing a solution to this issues boomed last year (ETH, MNR).
This year, it should be about ZEC and ZCL as they have strong attributes.

[kumax]

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

Yeah, I also wouldn't say that bitcoin will be completely replaced soon, but its purpose can be changed in some ways. I can see the trend already, that bitcoin starts to be used more as an investment than as a currency and this role (the currency one), can be taken by some another altcoin, because there are some which are more secure, more anonymous, with lower fees and quicker transaction time.

[positivezero]

Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?

Maybe if no one would use bitcoin or no one will trust bitcoin, but today? no doubt, bitcoin would never be replaced by any cryptocurrency since bitcoin is very useful, progressive and used by many people here in many countries. It would never happened that bitcoin would be obsolete since bitcoin gives us may benefits and most especially in doing some transactions.

[nelson4lov]

Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?

Maybe if no one would use bitcoin or no one will trust bitcoin, but today? no doubt, bitcoin would never be replaced by any cryptocurrency since bitcoin is very useful, progressive and used by many people here in many countries. It would never happened that bitcoin would be obsolete since bitcoin gives us may benefits and most especially in doing some transactions.

So your point is that because Bitcoin has some benefits like making transactions means It wouldn't get replaced? really?

As far as I know, There are a lot of coins that does same but at the same time, These Altcoins serves different purposes not just making transaction. Either way, I do think that bitcoin wouldn't be replaced by another Cryptocurrency anytime soon.

[cotton ball]

Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?

Maybe if no one would use bitcoin or no one will trust bitcoin, but today? no doubt, bitcoin would never be replaced by any cryptocurrency since bitcoin is very useful, progressive and used by many people here in many countries. It would never happened that bitcoin would be obsolete since bitcoin gives us may benefits and most especially in doing some transactions.

So your point is that because Bitcoin has some benefits like making transactions means It wouldn't get replaced? really?

As far as I know, There are a lot of coins that does same but at the same time, These Altcoins serves different purposes not just making transaction. Either way, I do think that bitcoin wouldn't be replaced by another Cryptocurrency anytime soon.

USD became center of world currencies, and continue to be printed in accordance with the law of supply and demand in foreign exchange market. Not so with bitcoin mining will someday run out, it means bitcoin can't regenerate and will be dominated by powerful groups. To take advantage of it, would appear loopholes that could be exploited by altcoin to get to the top.

[geopolisch]

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

Yeah, I also wouldn't say that bitcoin will be completely replaced soon, but its purpose can be changed in some ways. I can see the trend already, that bitcoin starts to be used more as an investment than as a currency and this role (the currency one), can be taken by some another altcoin, because there are some which are more secure, more anonymous, with lower fees and quicker transaction time.

Well you are right, in fact the thing that the people don’t know about bitcoin is that it is limited some at some point there will be no more bitcoin to cover the need of the market and that maybe the end of bitcoin, and I think, if that happens some kind of new technology cryptocurrency is going to take over and become the new bitcoin.

[Senor.Bla]

The word cryptocurrencies came into existence just because of bitcoin. Bitcoin needs altcoins to move further towards the next level to reach mainstream usage. Very few altcoins were experiencing stable growth similar to bitcoin. So soon bitcoin won't be replaced. About the future nothing is assured.

Yeah, I also wouldn't say that bitcoin will be completely replaced soon, but its purpose can be changed in some ways. I can see the trend already, that bitcoin starts to be used more as an investment than as a currency and this role (the currency one), can be taken by some another altcoin, because there are some which are more secure, more anonymous, with lower fees and quicker transaction time.

Well you are right, in fact the thing that the people don’t know about bitcoin is that it is limited some at some point there will be no more bitcoin to cover the need of the market and that maybe the end of bitcoin, and I think, if that happens some kind of new technology cryptocurrency is going to take over and become the new bitcoin.

The total amount of Bitcoin is fixed, so the supply will become more scarce and dry up, but it will take another good 100 years before that. Never the less the supply will shrink in the next 10-20 years significantly. Bitcoin will still be able to cover the needs of the market as it is very good divisible. This is also the reason that most see the price reaching higher and higher.

[Supebox]

Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?

It does  make sense because there is a possibility that it will be replaced.
But i don't think that the Bitcoin will be obsolete or at least not soon.

[kingsart]

I don't think it will be replaced by another cryptocurrency, it will more likely become like gold, which will not be used in day to day purposes, but in storing the value or investing.

[wisqo]

Highly unlikely. It is pretty much the gold standard at the moment, and I have yet to really see anything out there that can take the crown from bitcoin.

[Wapinter]

There still is a large group of people who dont know about bitcoin or cryptocurruncy and there is a group of people for whom crypto means bitcoin and they didn't hear about Altcoins.
Third there is even a smaller group of people who know about bitcoin and Altcoins.
With only such a small group of people aware about Altcoin, how is it possible it replace bitcoin?

[Calangaman]

There still is a large group of people who dont know about bitcoin or cryptocurruncy and there is a group of people for whom crypto means bitcoin and they didn't hear about Altcoins.
Third there is even a smaller group of people who know about bitcoin and Altcoins.
With only such a small group of people aware about Altcoin, how is it possible it replace bitcoin?

Absolutely true
I think it's only a matter of time. People increasingly read about bitcoin and a fraction will ultimately buy some.
Once they are into bitcoin, they will consider altcoins, read about it and ultimately invest.