Will Bitcoin be replaced by another cryptocurrency?

[kiklo]

Re: Will Bitcoin be replaced by another cryptocurrency?


Soon, if they don't get a handle on their transactions queue.

https://blockchain.info/unconfirmed-transactions

~36369 Unconfirmed Transactions  to go .


 

FYI:
Just dropping the blockspeed to 5 minutes would double the capacity, and going to 2½ minutes would increase transactions 4X.
Shame everyone in BTC is too greedy or too stupid to make that simple change.

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[MTBTT]

This week/month showed to us the power of bitcoin in terms of global acceptance.

If bitcoin can be replaced? Well, it will be an long road to another crypto get that highlight...

I think for any bitcoin life, if bitcoin continue berovolusi according to the times and user trust and continue to use bitcoin, then there will be no other cryptocurrency which will replace the bitcoin

[danherbias07]

Re: Will Bitcoin be replaced by another cryptocurrency?


Soon, if they don't get a handle on their transactions queue.

https://blockchain.info/unconfirmed-transactions

~36369 Unconfirmed Transactions  to go .


 

FYI:
Just dropping the blockspeed to 5 minutes would double the capacity, and going to 2½ minutes would increase transactions 4X.
Shame everyone in BTC is too greedy or too stupid to make that simple change.

Then use an alt which is owned by someone and anytime could just drop without even a warning? How could you trust something like that? I'd rather wait for a long transaction period than lose everything with a controlled coin.

[kiklo]

Then use an alt which is owned by someone and anytime could just drop without even a warning? How could you trust something like that? I'd rather wait for a long transaction period than lose everything with a controlled coin.

LOL,
if you trust BTC, you are trusting China, China has over 51% hash of BTC and LTC

Use LTC and you are still trusting China with your money , absolutely Zero Difference,
except LTC works without high fees and BTC is jammed.  

 

FYI:
In case it was not clear to you ,
China Controls  BTC
China Controls  LTC
China Controls  DOGE

BTC= Better Trust China

[rizkyhiw]

bitcoin is popular but its possible that any other cryptocurrency replaces bitcoin it can be by yhe price or by other factors. no matter what it is but we know bitcoin is going ro gather a lot more popularity when all the 21bitcoins will be mined

Do you really think that another crypto currency will come and survive for so many years like bitcoin and gain a price and popularity like bitcoin and then it will replace bitcoin? That does not seem to be happening, bitcoin has almost everything a person might want from a crypto currency so i don't see any reason bitcoin getting replaced.

yeah while another crypto growing , bitcoin itself growing faster
it's pretty clear that bitcoin is mother of crypto currency
now it's like 'can you be a parent of your mother' ?
just think about it , bitcoin is too big , too popular .

While bitcoin is growing faster, this is making other crypto currency growing fast too. But this will be hard for those other crypto's that doesn't have equivalent popularity with bitcoin. As bitcoin is the most well known crypto so this is very impossible thing for another crypto to replace what is being experienced by bitcoin today.

there is a lot of facts that another cryptocurrency cannot achieve
first the bitcoin ecosystems have been more established more than any other crypto currency
then bitcoin popularity hard to beat, required a long time to build popularity
end of wods bitcoin is irreplaceable at least for now.

Yes that's why it another crypto aims to replace the position of bitcoin now. That is going to be a hard way for them and just like what is happening now. There are a lot of crypto's that has the same characteristics with bitcoin but still us and other people are keep on using bitcoins and don't even want to shift to other projects that are coming out.

required a lot of times to build reputation and networking to make this happen
i stated clearly bitcoin is irreplaceable , nothing can switch it
the bitcoin community is the largest
only miracle and an altcoin breakthrough features could replace bitcoin

[Sled]

bitcoin is popular but its possible that any other cryptocurrency replaces bitcoin it can be by yhe price or by other factors. no matter what it is but we know bitcoin is going ro gather a lot more popularity when all the 21bitcoins will be mined

Do you really think that another crypto currency will come and survive for so many years like bitcoin and gain a price and popularity like bitcoin and then it will replace bitcoin? That does not seem to be happening, bitcoin has almost everything a person might want from a crypto currency so i don't see any reason bitcoin getting replaced.

yeah while another crypto growing , bitcoin itself growing faster
it's pretty clear that bitcoin is mother of crypto currency
now it's like 'can you be a parent of your mother' ?
just think about it , bitcoin is too big , too popular .

While bitcoin is growing faster, this is making other crypto currency growing fast too. But this will be hard for those other crypto's that doesn't have equivalent popularity with bitcoin. As bitcoin is the most well known crypto so this is very impossible thing for another crypto to replace what is being experienced by bitcoin today.

there is a lot of facts that another cryptocurrency cannot achieve
first the bitcoin ecosystems have been more established more than any other crypto currency
then bitcoin popularity hard to beat, required a long time to build popularity
end of wods bitcoin is irreplaceable at least for now.

Yes that's why it another crypto aims to replace the position of bitcoin now. That is going to be a hard way for them and just like what is happening now. There are a lot of crypto's that has the same characteristics with bitcoin but still us and other people are keep on using bitcoins and don't even want to shift to other projects that are coming out.

required a lot of times to build reputation and networking to make this happen
i stated clearly bitcoin is irreplaceable , nothing can switch it
the bitcoin community is the largest
only miracle and an altcoin breakthrough features could replace bitcoin

As of now, you are right bitcoin is irreplaceable and our community have the largest number in case of supporters but we can't stick to that word "only miracle and an altcoin breakthrough features could replace bitcoin" because we can't be sure that bitcoin will be stable for the next 20 or more years because we know that there is a event that we called halvening where the bitcoin block reward will be half and the mining difficulty will be higher and higher and so on. If that happens many miners will find a new one or another crypto-currency that can satisfy their needs both in profit and expenses. If they find another one that is giving much better income than bitcoin then they will push that coin and continue to support that new coin rather than sticking on  bitcoin. Its all about stability and the profit that it gives and second is the features of a coin. We can't predict the future, So just enjoy on what we have now.

[rickadone]

This week/month showed to us the power of bitcoin in terms of global acceptance.

If bitcoin can be replaced? Well, it will be an long road to another crypto get that highlight...

I think for any bitcoin life, if bitcoin continue berovolusi according to the times and user trust and continue to use bitcoin, then there will be no other cryptocurrency which will replace the bitcoin

The trust of the people on bitcoin is continuously increasing and therefore they are putting investing their assets in bitcoin and that is the reason that the price of bitcoin is increasing rapidly, hope that the trend of increasing the price of bitcoin will continue for a long time. As long as people keep their trust bitcoin will never get replaced.

[Shenzou]

Probably because of the high demand and the high price of bitcoin and how it became hard to mine and no one can buy it for its very high price it maybe possible to see other alt coins taking over probably litecoin since it is the second after it

[Senor.Bla]

This week/month showed to us the power of bitcoin in terms of global acceptance.

If bitcoin can be replaced? Well, it will be an long road to another crypto get that highlight...

I think for any bitcoin life, if bitcoin continue berovolusi according to the times and user trust and continue to use bitcoin, then there will be no other cryptocurrency which will replace the bitcoin

The trust of the people on bitcoin is continuously increasing and therefore they are putting investing their assets in bitcoin and that is the reason that the price of bitcoin is increasing rapidly, hope that the trend of increasing the price of bitcoin will continue for a long time. As long as people keep their trust bitcoin will never get replaced.

you can lose the trust in something very quickly. inventing something is usually the hardest part and it gives you an advantage for some years, but usually other people will find a way to optimize it and make something better that can eventually replace the invention. 

[ArticMine]

This is going to come down to a question of basic supply and demand. If the demand exceeds the capacity of the 1 MB maximum blocksize in the Bitcoin protocol, it is only a matter of time before somebody else will fill the unmet demand.

https://bitcointalk.org/index.php?topic=1690349.0;all
https://blockchain.info/unconfirmed-transactions

[olushakes]

It will really be hard to say whether it will be replaced or not, time will tell but a lot of Alts have tried and failed maybe "the next big thing" can do the magic we are waiting. But in the real sense, Bitcoin has really come to stay and has maintain its position right up there and even other cryptos real value are determine in relation to the price of Bitcoin just like the USD in the FIAT world but who knows? The future is uncertain.

[rizkyhiw]

required a lot of times to build reputation and networking to make this happen
i stated clearly bitcoin is irreplaceable , nothing can switch it
the bitcoin community is the largest
only miracle and an altcoin breakthrough features could replace bitcoin

As of now, you are right bitcoin is irreplaceable and our community have the largest number in case of supporters but we can't stick to that word "only miracle and an altcoin breakthrough features could replace bitcoin" because we can't be sure that bitcoin will be stable for the next 20 or more years because we know that there is a event that we called halvening where the bitcoin block reward will be half and the mining difficulty will be higher and higher and so on. If that happens many miners will find a new one or another crypto-currency that can satisfy their needs both in profit and expenses. If they find another one that is giving much better income than bitcoin then they will push that coin and continue to support that new coin rather than sticking on  bitcoin. Its all about stability and the profit that it gives and second is the features of a coin. We can't predict the future, So just enjoy on what we have now.

if then bitcoin cannot survive in the next few years
how can you say any other cryptocurrency will do? it's a simple logic
mining difficulty is not the real problem for people to leave bitcoin and start seeking for a new one i guess
every altcoin has a block difficulty, and if bitcoin diffculty gained , so do altcoin!

[avikz]

Impossible it self says "I m possible" so I would say nothing is impossible in the crypto world. But also you have to remember that bitcoin is a pioneer crypto currency with the highest market capitalisation. So it will be a very hard job to replace bitcoin if not impossible.

However, after 2023 bitcoin will become the most rear coin and then probably people will start looking for an alternative. So around 2023 we may see some other currency is replacing bitcoin. It may or may not happen.

[pooya87]

required a lot of times to build reputation and networking to make this happen
i stated clearly bitcoin is irreplaceable , nothing can switch it
the bitcoin community is the largest
only miracle and an altcoin breakthrough features could replace bitcoin

As of now, you are right bitcoin is irreplaceable and our community have the largest number in case of supporters but we can't stick to that word "only miracle and an altcoin breakthrough features could replace bitcoin" because we can't be sure that bitcoin will be stable for the next 20 or more years because we know that there is a event that we called halvening where the bitcoin block reward will be half and the mining difficulty will be higher and higher and so on. If that happens many miners will find a new one or another crypto-currency that can satisfy their needs both in profit and expenses. If they find another one that is giving much better income than bitcoin then they will push that coin and continue to support that new coin rather than sticking on  bitcoin. Its all about stability and the profit that it gives and second is the features of a coin. We can't predict the future, So just enjoy on what we have now.

if then bitcoin cannot survive in the next few years
how can you say any other cryptocurrency will do? it's a simple logic
mining difficulty is not the real problem for people to leave bitcoin and start seeking for a new one i guess
every altcoin has a block difficulty, and if bitcoin diffculty gained , so do altcoin!

exactly!
some people forget that when they are comparing bitcoin with an altcoin they should consider the same amount of usage for that altcoin. in other words the same amount of miners (hash rate) the same number of transactions, .... and most of the altcoins will fail because for example their blockchain will grow 20 times faster that bitcoin's blockchain and they automatically fail the first week.

[boyptc]

It will really be hard to say whether it will be replaced or not, time will tell but a lot of Alts have tried and failed maybe "the next big thing" can do the magic we are waiting. But in the real sense, Bitcoin has really come to stay and has maintain its position right up there and even other cryptos real value are determine in relation to the price of Bitcoin just like the USD in the FIAT world but who knows? The future is uncertain.

As of now, I'm not even thinking that bitcoin will be replaced by another crypto currency. Because if we will just look upon the achievements of bitcoin then no one can really able to reach it and look upon those hundreds of alts. I will frankly say that no one can ever replace bitcoin for these days or for next 10 years, but after that I can't tell.

[BitcoinPanther]

Most probably bitcoin will stay the top currency.  There is a current researched done by San Francisco based Kraken to a university to choose between Bitcoin and Ethereum if they had given 1 million Dollar to invest.  The answer clearly states that Bitcoin will still dominates the market for the next decades because majority of the participant choose Bitcoin over Ethereum.

The Article link : https://news.bitcoin.com/university-choose-bitcoin-ethereum/

[madwica]

We do not know what will happen in the future more other crypto currency compete bitcoin in the top but we can help bitcoin to remain number one by using it much more to increase the demand.

[bhadz]

We do not know what will happen in the future more other crypto currency compete bitcoin in the top but we can help bitcoin to remain number one by using it much more to increase the demand.

It depends on there offered service and other needs but I don't think with this time no crypto will be able to compete bitcoins. But just like what happened from the early days of bitcoin. We don't know that this will come out of nowhere, then I think some another currency will be able to come out from nowhere and will make some hard competition with bitcoin.

[Snorek]

Most probably bitcoin will stay the top currency.  There is a current researched done by San Francisco based Kraken to a university to choose between Bitcoin and Ethereum if they had given 1 million Dollar to invest.  The answer clearly states that Bitcoin will still dominates the market for the next decades because majority of the participant choose Bitcoin over Ethereum.

The Article link : https://news.bitcoin.com/university-choose-bitcoin-ethereum/

It's good to see that Bitcoin is still considered as the king and top cryptocurency by people. The problem with Bitcoin currently is development which is more like popularity contest.
Ethereum's devs don't have this problem - coin is fully controlled by them, if they want/need to fork it, they just do it tomorrow.
Meanwhile bitcoin is more like a religion to some people they won't accept any upgrades because it won't be "pure" BTC anymore.

[Caladonian]

We do not know what will happen in the future more other crypto currency compete bitcoin in the top but we can help bitcoin to remain number one by using it much more to increase the demand.

well said mate as long as we are all here supporting the chain and continuously adding more and more people to get involved for sure bitcoin will still the number one currency from crypto industry we are the one who can change bitcoin future if we do support/create another coin project to support with.