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Author Topic: Will Bitcoin be replaced by another cryptocurrency?  (Read 185472 times)
BartS
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September 11, 2017, 09:54:18 PM
 #2381

Anything can happen in cryptocurrency world  . any crypto can be replaced btcoin at any time. But it will be tough enough.
yes anything can happen but i think it is still not so easy. because currently bitcoin is the main crypto currency and still people like and give more preference to it as compare to any other altcoin. therefore i do not think that any other altcoin will have the power to overcome bitcoin so easily, i do do not think that it will happen in near future.
If something goes wrong with bitcoin and if the problem is cannot be solved by any solution then there is a lot of altcoins to choose from because they are all potential competitor of bitcoin and the only reason why they are not famous is because they don't have too much attention and volume but when bitcoin goes wrong then it is the best time for them.
I do not think that is the case, there is going to be a lot of turmoil if something happens to bitcoin, all cryptos besides bitcoin are priced in bitcoin, and you need bitcoin to buy it, if bitcoin disappeared then all of the sudden people holding those coins will be unable to sell them and the price is going to plummet, I think eventually a new coin will take the top spot but fortunes will be lost in the process.
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September 11, 2017, 09:59:27 PM
 #2382

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's hard to say that there's no possibility of this thing to happen since all cryptocurrency including Bitcoin are dependent on its market demand in terms of each of its market value. So if there'll be another crypto that will be more indemand than Bitcoin, for sure it will have a higher market value and will replace Bitcoin as the no.1 cryptocurrency l. But I highly doubt that it will totally obsolete Bitcoin because there are lots of loyal users of Bitcoin.

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September 11, 2017, 10:19:21 PM
 #2383

Maybe it will happen. if Bitcoin loses the trust of its users or the government prohibits the use of Bitcoin to transact or also the emergence of newer, more sophisticated crypto coins from Bitcoin.
But for now I think Bitcoin is irreplaceable.
You're right.And besides bitcoin is the mother of all cryptocurrencies so no wonder,all cryptocurrencies are just evolving around bitcoin.But if there are chances that new advanced cryptocurrency will appear,maybe it can replace bitcoin in its position.But as of today,bitcoin still rules all other cryptocurrencies.




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fitriyanti
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September 11, 2017, 10:22:50 PM
 #2384

I think its so hard to do..because bitcoin is one of strong and famous and have a great algoritm..
if other crypto want to shifting bitcoin..its mush be hard work to do
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September 11, 2017, 10:37:07 PM
 #2385

Very interesting discussion and most of you stated, that BTC will be number 1 once and for all (it's a BTC forum after all  Wink ).
I wonder, what happens, when Bitcoin gets banned in several companies. What will be outcome of this event?

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bitbob82
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September 11, 2017, 11:08:20 PM
 #2386

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's hard to say that there's no possibility of this thing to happen since all cryptocurrency including Bitcoin are dependent on its market demand in terms of each of its market value. So if there'll be another crypto that will be more indemand than Bitcoin, for sure it will have a higher market value and will replace Bitcoin as the no.1 cryptocurrency l. But I highly doubt that it will totally obsolete Bitcoin because there are lots of loyal users of Bitcoin.
yes in fact everything is possible in this world. but we have to decide on fact and reality, and the reality is that bitcoin is still the number one currency of the world and the popularity of bitcoin is still increasing therefore i do not think that any other currency an replace its place so soon.
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September 12, 2017, 12:55:56 PM
 #2387

For the meantime no. No one can take bitcoin's place. If there will be a superior coin in the future, it still is going to be compared to bitcoin and it's price will still be derived from it.

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September 12, 2017, 01:33:07 PM
 #2388

The only point that bitcoin cant offer is currently being anonymous transactions, as all  the discounts will show off into the wallet, i dont see it as a dilemma but as an gain, with this method you may know how considerably funds you had expended, some thing with fiat we dont control or do know the ammount.
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September 12, 2017, 01:46:05 PM
 #2389

Another came up as strong as btc ... but replaced not
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September 12, 2017, 02:35:04 PM
 #2390

I think this is very possible, now many people make coins and I'm sure 1 among there will be better everything and soon replace bitcoin.
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September 12, 2017, 02:59:26 PM
 #2391

I would say that in the near future (something like 3-5 years) Bitcoin will almost certainly remain the first. If we speak about the period of ten or more years I am not so sure. The reason for this is an extremely fast growth of crypto industry. Who knows, maybe in years ahead someone will invent a cryptocurrency that is different from bitcoin and better than any other. But these are only my thoughts, which are not proved by any fact.
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September 13, 2017, 03:04:31 AM
 #2392

It is tough but not impossible. Bitcoin will be available till 2023 and it is very much possible for some other crypto currency to take over its place. Even though it will not be very easy, but not impossible also. However, I don't see that happening in 5-6 years. The kind of positivity and public trust is bestowed up on bitcoin, it will remain as the most valuable crypto currency till the time it is available.

Later on, some technically superior crypto currency can certainly get more investments than bitcoin and can replace it from the number one position. Anything can happen in future, that only time will tell. 

Agree. It is not that difficult for another cryptocurrency to take over Bitcoin's place. However, it may take a couple of years from now for that to become a reality since Bitcoin has an established branding and user acceptance.

If another cryptocurrency comes in with better technology, and with the ability to scale at a fast pace than Bitcoin, then it might probably take its place given that it will gain greater adoption and acceptance among the mainstream world.

But, in the meantime, we could enjoy all the benefits that the pioneer cryptocurrency provides, until the time comes to departure from it. The future brings many exciting things ahead and it will tell whenever Bitcoin will remain within its rightful place on the markets or not. Just my thoughts Grin
To me that does not seem to be that easy, thousands of coins have been created and not even a single coin has surpassed bitcoin for a moment, that should show to us how solid is bitcoin and I think that if the next fork that is coming in November does not affect bitcoin that much then we could have at least another decade of bitcoin dominance over the market of crypto.
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September 13, 2017, 03:31:14 AM
 #2393

I think it is very likely, now all the people that make the coins and they cooperate with one another to strengthen communities, an example is the Ethereum, there are many developers who utilize network ethereum.

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September 13, 2017, 03:41:17 AM
 #2394

Nope. Well, too early to say. I have a feeling there will be more coming out, specifically from large corporations like Facebook which could easily challenge it. Imagine if Facebook launched "Facecoin" or something of that nature. Shocked
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September 13, 2017, 05:01:06 AM
 #2395

If anything, it will be replaced by ETH. Although unlikely, Ethereum is a very big technological innovation which Bitcoin does not currently replicate (although there are projects underway to do so).
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September 13, 2017, 05:10:50 AM
 #2396

If anything, it will be replaced by ETH. Although unlikely, Ethereum is a very big technological innovation which Bitcoin does not currently replicate (although there are projects underway to do so).
I like to make that happen as well, I have my investment most on ETH platform, I have a lot of altcoins and when that happen
maybe I can say I will be rich. If the price of bitcoin now will be the price of ETH in the near future, then we will all benefit, it would be fast if
bitcoin will die because people will just transfer their money.
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September 15, 2017, 10:37:56 PM
 #2397

The only point that bitcoin cant offer is currently being anonymous transactions, as all  the discounts will show off into the wallet, i dont see it as a dilemma but as an gain, with this method you may know how considerably funds you had expended, some thing with fiat we dont control or do know the ammount.
More than anything bitcoin is lacking cheap fees, while some complain about the speed of the network, the fees are the real problem, the fee can be as high as 5 dollars, if you want to buy a cheap product you are better off buying with fiat or paypal, fortunately I think this is going to be solved but we have yet to see the results of the improvements on the network.
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September 15, 2017, 11:32:09 PM
 #2398

if it just because bitcoin price goes down this week that's normal for bitcoin
but we don't know what happened on the future.
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September 17, 2017, 07:18:27 PM
 #2399

to me bitcoin is not likely to replace by one more currency, as a lot more and far more individuals are coming into in the area of bitcoin therefore bitcoin is becoming a lot more and a lot more secure, therefore there is chance that bitcoin will be replace by yet another currency.
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September 18, 2017, 04:36:24 AM
 #2400

I think this is very possible, now many people make coins and I'm sure 1 among there will be better everything and soon replace bitcoin.
The number of coins begin created is irrelevant you could copy paste the code of bitcoin a million times an yet you will only have a million of copycats, a new coin that wants to overcome bitcoin will need to be many times better than bitcoin, it is not enough that it has a characteristic here and there in which is better because if that is the case then bitcoin could get improved by the devs and add that feature to bitcoin code.
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