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Senor.Bla
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December 20, 2016, 12:46:05 PM |
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Remember, nothing can be flawless and change is the only constant in this world. So bitcoin can be replaced by another crypto currency in any time in future. But I don't see that is happening anything soon. Being a pioneer in the crypto currency world, bitcoin has a major share of the market cap in crypto currency world.
It may be possible only after 2023 when the bitcoin blocks will be exhausted and no new bitcoins can be mined. Then people will look for alternatives. To invest money and to get return like they got in bitcoins. That could be ETH or anything else. But replacement will be found.
I am not sure if you just spelled it wrong or something but the year 2023 is far away from being the end of mining. We still have a good 100 years for this. So i think it is more likely that Bitcoin will be replaces for other reasons or not at all if the time comes, because if it still works and is number 1 by then, then this would be a bad reason to switch to altcoins. |
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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tee-rex
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December 20, 2016, 03:35:55 PM |
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I am not sure of it. bitcoin is currently still the best coins of all existing cryptocurrency. no single coin that could rival bitcoin, even, bitcoin being a role model and the rest for other altcoin. I feel that it will remain in a very long time. because at the moment I do not see any potential altcoin can replace bitcoin.
Yeah, for now bitcoin is the most dominant currency in the crypto. When the value increase, altcoins are affected, but we cannot guarantee that it will last forever, it still depend on the users if they continue to patronize the use of bitcoin and if now, we will witness another big dump and that might not make bitcoin recover anymore. Absolutely. Let us assume that 1% of the world is using crypto currencies. And of these 95% are using Bitcoin. So Bitcoin is dominant right know, but if the other 99% of the world start using crypto currencies and decide to go with GovCoin then nobody will even talk about Bitcoin anymore. If that GovCoin will be devaluing and losing its purchasing power like other coins that the government has been printing so far, people will soon forget about it and start using Bitcoin instead. But I don't really think that any government is ever going to issue their own cryptocurrency anyway, just because it would mean admitting the strength of Bitcoin itself. It is not a good idea to try to outcompete Bitcoin where it is strongest. |
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Senor.Bla
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December 20, 2016, 03:44:06 PM |
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I am not sure of it. bitcoin is currently still the best coins of all existing cryptocurrency. no single coin that could rival bitcoin, even, bitcoin being a role model and the rest for other altcoin. I feel that it will remain in a very long time. because at the moment I do not see any potential altcoin can replace bitcoin.
Yeah, for now bitcoin is the most dominant currency in the crypto. When the value increase, altcoins are affected, but we cannot guarantee that it will last forever, it still depend on the users if they continue to patronize the use of bitcoin and if now, we will witness another big dump and that might not make bitcoin recover anymore. Absolutely. Let us assume that 1% of the world is using crypto currencies. And of these 95% are using Bitcoin. So Bitcoin is dominant right know, but if the other 99% of the world start using crypto currencies and decide to go with GovCoin then nobody will even talk about Bitcoin anymore. If that GovCoin will be devaluing and losing its purchasing power like other coins that the government has been printing so far, people will soon forget about it and start using Bitcoin instead. But I don't really think that any government is ever going to issue their own cryptocurrency anyway, just because it would mean admitting the strength of Bitcoin itself. It is not a good idea to try to outcompete Bitcoin where it is strongest. The GovCoin was naturally just an example and i could have written just altcoin, but this does not mean that a GovCoin will not be the future of crypto. It just might be the case, even if i hope that this will not happen. |
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lionheart78
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Activity: 2898
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December 20, 2016, 03:51:19 PM |
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Storage services like Storj, Maid, MegaUpload 2.0 and vTorrent altcoins and services that will strengthen Bitcoin even further.
Altcoins wanting to replace Bitcoin need to attract these type of coins to provide similar services.
Bitcoin has a strong ecosystem supporting it and trying to leverage off it.
So it's weakness of bitcoin? And altcoin will need attracting them to building the strong ecosystem like bitcoin? Seems like the key wasn't holding by the bitcoin itself. It's a weakness of altcoins that want to take over from Bitcoin. Every exchange uses Bitcoin as the exchange currency. That keeps the volume of BTC high. So altcoins support Bitcoin. If you are an altcoin, you need to find a way to get other altcoins to support you. Not necessarily, you just need an exchange where the altcoin can directly exchanged to fiat currency and be popular like bitcoin. The truth is, they both supporting each other, bitcoin to altcoin and altcoin to bitcoin. It is that Bitcoin is much more popular right now that altcoin are seen at the back. But I am still into this belief "The only permanent in this world is change". So no matter how long it will take, some cryptocurrency will replace bitcoin in due time. |
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Gloiri
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December 20, 2016, 05:49:09 PM |
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No I cannot believe that this will happen at any point because the bitcoin is simply already way too big right now.
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coins101
Legendary
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Activity: 1456
Merit: 1000
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December 20, 2016, 06:28:17 PM |
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Storage services like Storj, Maid, MegaUpload 2.0 and vTorrent altcoins and services that will strengthen Bitcoin even further.
Altcoins wanting to replace Bitcoin need to attract these type of coins to provide similar services.
Bitcoin has a strong ecosystem supporting it and trying to leverage off it.
So it's weakness of bitcoin? And altcoin will need attracting them to building the strong ecosystem like bitcoin? Seems like the key wasn't holding by the bitcoin itself. It's a weakness of altcoins that want to take over from Bitcoin. Every exchange uses Bitcoin as the exchange currency. That keeps the volume of BTC high. So altcoins support Bitcoin. If you are an altcoin, you need to find a way to get other altcoins to support you. Not necessarily, you just need an exchange where the altcoin can directly exchanged to fiat currency and be popular like bitcoin. The truth is, they both supporting each other, bitcoin to altcoin and altcoin to bitcoin. It is that Bitcoin is much more popular right now that altcoin are seen at the back. But I am still into this belief "The only permanent in this world is change". So no matter how long it will take, some cryptocurrency will replace bitcoin in due time. You're obviously wrong  Look at all the altcoins with new features. Bitcoin doesn't have any features. So altcoins like vTorrent, for example, doesn't have any fiat conversion ability. For people to use the BitTorrent functionality, they need to use Bitcoin. Altcoins have the features, Bitcoin is the reserve currency and a way for people almost anywhere in the world to convert fiat to Bitcoin. This makes Bitcoin highly desirable because of altcoins. Do you see why you are wrong? |
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Rinder
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December 20, 2016, 07:32:03 PM |
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This is the reality bitcoin even without any update or improvement, is used as asset to store altcoins results, as well to try to get an extra income with it. I doubt some other currency can reach and replace bitcoin, even knowing there are some coins already improving a lot their coins to get bigger, instead start to loose power against bitcoin.
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Ewinsane
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December 20, 2016, 07:52:14 PM |
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No I cannot believe that this will happen at any point because the bitcoin is simply already way too big right now.
you are right that bitcoin is very much stronger currency and no one can be replace it by another currency because there is a lot of crypto currencies and just bitcoin on the top of all and bitcoin is on very stronger position so its very difficult and impossible that Bitcoin will be replaced by another cryptocurrency. |
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namley
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Activity: 62
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December 20, 2016, 07:55:08 PM |
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Yes and no. I believe btc will fork with some major changes and better features. Everyone will move over to the new bitcoin.
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Senor.Bla
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December 20, 2016, 08:10:35 PM |
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Yes and no. I believe btc will fork with some major changes and better features. Everyone will move over to the new bitcoin.
WOW this is a new and interesting opinion. What do you think this major changes would be? Most people would consider a hard fork still as Bitcoin (unless you change to much), but this would be an altcoin for some. The question is how much can you change Bitcoin with an hard fork and would it not be better in some cases to just start fresh? |
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Westinhome
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December 21, 2016, 11:43:19 AM |
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Yes and no. I believe btc will fork with some major changes and better features. Everyone will move over to the new bitcoin.
It needs to increase the block size sooner than later to compete with ZCash and other coins such as litecoin. |
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Frank Alister
Member
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Activity: 99
Merit: 10
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December 21, 2016, 01:59:39 PM |
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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
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Dmitry.Vastov
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December 21, 2016, 02:38:00 PM |
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Theres a possibility. But theres only thiner chance to be bappen. It also takes time. I mean, look at the price. Is there any altcoin which is the price is closest to price of bitcoin? I think may take many years to happen. But theres a lot of altcoin out there has a lot of potential. But some of them are just hype.
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ReLieD
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December 21, 2016, 02:57:03 PM |
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Bitcoins have increased throughout. It cannot be replaced by any other crypto currency as bitcoin has gained trust of people. Simply Speaking Bitcoin is the best.
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dhampir-D
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December 21, 2016, 03:20:00 PM |
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This is the reality bitcoin even without any update or improvement, is used as asset to store altcoins results, as well to try to get an extra income with it. I doubt some other currency can reach and replace bitcoin, even knowing there are some coins already improving a lot their coins to get bigger, instead start to loose power against bitcoin.
Yeah, there are hundreds of altcoins in the market, many of them try to improve something that developers see as a problem in Bitcoin, but while some things are improved, other problems come up that make these altcoins lose investors and market capitalization with certain ease. These are some of the reasons why it is risky market. |
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coynedterm
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December 21, 2016, 03:38:28 PM |
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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?
In my opinion Bitcoin replace by any new or existed cryptocurrency is impossible because the user of Bitcoin are spreaded in the whole world like a network and they have much believe in Bitcoin and it is not simple thing to accept new Cryptocurrency by them . |
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johny08
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December 21, 2016, 03:42:54 PM |
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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?
Wet dream of a newbie. Its all bout security nd trust. There cant anything happen again like btc. Btc is doing what it should do nd you built around it, everything you want, |
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Tyrantt
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December 21, 2016, 04:13:31 PM |
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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?
Wet dream of a newbie. Its all bout security nd trust. There cant anything happen again like btc. Btc is doing what it should do nd you built around it, everything you want, haha bitcoin has since been implemented in a lot of big businesses and one of them is steam, and steam has a lot of users, and just as many other businesses they trust bitcoin and bitcoin by itself is the most evolved one and one altcoin that has been put a lot of work i nit and still is. I don't think some other coin will replace it. |
Need some spare btc for a new PC that can at least run Adobe Dreamweaver.
BTC - 19qm3kH4MZELkefEb55HCe4Y5jgRRLCQmn ♦♦♦ ETH - 0xd71ACd8781d66393eBfc3Acd65B224e97Ae1952D
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Tyrantt
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December 21, 2016, 04:15:48 PM |
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Bitcoins have increased throughout. It cannot be replaced by any other crypto currency as bitcoin has gained trust of people. Simply Speaking Bitcoin is the best.
Well people are pushing it to be like that, there's been a lot of work and improvement put into bitcoin, since it's an open sourse. Bitcoin is made and will be kept the best coin out there for as long as it can be, and I can surely say that it will remain the best untill the end. |
Need some spare btc for a new PC that can at least run Adobe Dreamweaver.
BTC - 19qm3kH4MZELkefEb55HCe4Y5jgRRLCQmn ♦♦♦ ETH - 0xd71ACd8781d66393eBfc3Acd65B224e97Ae1952D
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Rinder
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December 21, 2016, 04:26:22 PM |
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Bitcoin is king of currency without any improvement, when those happens it just show others that bitcoin can get better, altcoins will always be altcoins, but we cant say that bitcoin wont find some strong altcoins in the future, since we all know the issues that some people dislike at bitcoin, and if a solution doesnt show off on the next years, some altcoins may hit bitcoin deeply.
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