Will Bitcoin be replaced by another cryptocurrency?

[target]

I think it is difficult and near impossible, when people talk cryptocurrency, then they will know bitcoin. I also know that there are many altcoin the technology side is better than bitcoin, but because bitcoin is first then it will not be replaced.

I do think it's difficult for any cryptocurrencies to take over the place of bitcoin but I don't assume that this is impossible. And there are literally nothing predictable in this crypto world, especially when it comes to bitcoin. It's not gonna happen now for sure, but after a few years or even decades, things won't be the same anymore and so does bitcoin.

i agree its not impossible as long as people continue with the habbit of dumping coins for a profit the are slowly killing bitcoins.
To make matters worse if bitcoin gets to be regulated like wherechina is heading we might shift to another crypto in no time

Didn't know China is regulating bitcoin. Its effect might just be different to some other countries because it means that the Chinese government will not be collecting taxes from BTC companies. BTC is accepted already so this can be the beginning of some other countries to regular it too. I thinks Switzerland is also regulating bitcoin.

It will be promoted to commoners in their country too. The more audience the more bitcoin investors and will result to better price.

[d5000]

I have changed my views regarding this question in the last years/months. In the past, I was convinced that Bitcoin on the long term would be replaced by a Proof of Stake cryptocurrency.

Now, for me it's not so clear anymore. PoW has definitively higher costs for blockchain maintenance than alternative algorithms, but academic research in the past years is indicating its also probably stronger in terms of security. And I am getting more optimistic that renewable energies are enabling a environmental-friendly mining business (in the future, I think, most miners will reside in "high-energy spots" like Iceland, the Sahara, Patagonia or the Andes where solar, geothermal or wind energy abound).

So it's possible for BTC to stay as the market leader for many decades. However, I think in the future we will have more strong blockchains around.

[pinkpanther03]

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?

There is a big possibility that bitcoin can be replaced by another cryptocurrency. But take note of this, as long as the price of bitcoin is continuously in progress, together with the users also increases daily, and more investors are coming in daily too, replacing by it wouldn't be happen.

[canhchuacaro1]

If you will compare bitcoin with altcoins you can tell that there is a big difference and with the current situation you can tell that bitcoin are more dominant as most of the legitimate altcoins are dropping its price while bitcoin is soaring.
may be in future but in my opinion it is vety hard to say that any new online digital currency may overcome the bitcoin but still there are many problems because who will invest much amount of money in new coin or online currency .
Its very hard to say its replaceable because its really pioneer and now no one can replace but we can say some can give support like we have in metals Gold is Pioneer and others giving him good support

[LuanX3]

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?

There is a big possibility that bitcoin can be replaced by another cryptocurrency. But take note of this, as long as the price of bitcoin is continuously in progress, together with the users also increases daily, and more investors are coming in daily too, replacing by it wouldn't be happen.

Yes, if people still believe in bitcoins then there is no chance yet for it to be replaced. Bitcoins has gotten so far and I don't think it can be easily be replaced by some other cryptocurrency just like that. But I still don't discount the fact that there will be chances that bitcoin can be replaced.

[farhaan]

Bitcoin investment is safe and secure when compared to any other altcoin most of which are just pump and dump.Its very hard for another crypto currency to replace bitcoin. But when quantum computing comes in future and if it affects block chain system, then at such situation, it may become possible for a altcoin to replace bitcoin.

[millgates]

Bitcoin investment is safe and secure when compared to any other altcoin most of which are just pump and dump.Its very hard for another crypto currency to replace bitcoin. But when quantum computing comes in future and if it affects block chain system, then at such situation, it may become possible for a altcoin to replace bitcoin.

Also bitcoin have the biggest market cap among of cryptocurrecy, and so many people in the deep web are use bitcoin. But I disagree with you about altcoins is just for pump and dump, I am sure that altcoin can be good long time investment too.

[stadus]

Bitcoin investment is safe and secure when compared to any other altcoin most of which are just pump and dump.Its very hard for another crypto currency to replace bitcoin. But when quantum computing comes in future and if it affects block chain system, then at such situation, it may become possible for a altcoin to replace bitcoin.

Also bitcoin have the biggest market cap among of cryptocurrecy, and so many people in the deep web are use bitcoin. But I disagree with you about altcoins is just for pump and dump, I am sure that altcoin can be good long time investment too.

It will always lead the crypto currencies, the success of bitcoin are a success of altcoins as well, they will work together to have a better future of the crypto currencies as a whole. We have to watch out for any potential altcoins that is going to compete with bitcoin, as for sure it would be easy for us to make profit due to a possible great price increase.

[Soul Reaper]

Now , it is impossible for any other crypto currency to overtake bitcoin.
 The growth percentage of bitcoin is very high than any
other crypto currency and most of the people trust bitcoin.
 Also bitcoin forum helps people to earn a lot .
 More over bitcoin is trusted worldwide making it the best crypto currency.
Another thing that showcases the growth of bitcoin
 is that Starbucks and Steam have started accepting transaction made in bitcoins.

[dragonchopper9]

Only Ethereum is able to do this at the moment. I do not know may be in the near future there will be some kind of giant and will bypass all alternative cryptocurrency, but so far only Ethereum is a competitor for the top spot for Bitcoin. You have to understand that now the age of technology and Ethereum is a flexible technology unlike Bitcoin which is digital money.

[GoodLuck2]

Bitcoin will be never replaced by another currency because bitcoin is much more stronger and powerful currency and bitcoin is much more popular currency and bitcoin demand is very high so bitcoin currency will be never replaced by another currency.

[squatz1]

I really just couldn't ever see that happening even if some of the best altcoins out their with devs who really think their coin can do it (Ex XMR, ETH, etc) I just don't feel they can reach the same amount of people that bitcoin reached in a pretty short 6 years?

So, no I don't think bitcoin will be replaced by another cryptocurrency.

[Soul Reaper]

I would happen but it would take some time and it would be very difficult to do so because the original idea is always respected the most, someone has to think something out of the box to do the same.
Eg . consider the WhatsApp messenger you use there have been many other messengers developed which are better than it in terms of features but WhatsApp is since the original it is still respected even though some day it will also be replaced by something better.there may be attempts now by many other codders to design something similar like the bitcoin but the one successful will be someone who thinks out of the box
Until then bitcoins will rule the markets.

[Harlot]

I would happen but it would take some time and it would be very difficult to do so because the original idea is always respected the most, someone has to think something out of the box to do the same.
Eg . consider the WhatsApp messenger you use there have been many other messengers developed which are better than it in terms of features but WhatsApp is since the original it is still respected even though some day it will also be replaced by something better.there may be attempts now by many other codders to design something similar like the bitcoin but the one successful will be someone who thinks out of the box
Until then bitcoins will rule the markets.

Yes you can say that statement but the problem is Bitcoin is not a kind of app but is is a kind of currency. The market share for Bitcoin is so big that what I know is is that it is the only cryptocurrency accepted in the market as a mode of payment. The popularity of Bitcoin is so good that the purpose of other altcoins is just to take profit and later on converting it back to Bitcoin.

[just_Alice]

I have changed my views regarding this question in the last years/months. In the past, I was convinced that Bitcoin on the long term would be replaced by a Proof of Stake cryptocurrency.

Now, for me it's not so clear anymore. PoW has definitively higher costs for blockchain maintenance than alternative algorithms, but academic research in the past years is indicating its also probably stronger in terms of security. And I am getting more optimistic that renewable energies are enabling a environmental-friendly mining business (in the future, I think, most miners will reside in "high-energy spots" like Iceland, the Sahara, Patagonia or the Andes where solar, geothermal or wind energy abound).

So it's possible for BTC to stay as the market leader for many decades. However, I think in the future we will have more strong blockchains around.

Thanks for posting this information! I was believing in Bitcoin before, but it was actually ungrounded, I just wanted to think Bitcoin is the best without knowing much about alternative algorithms. Now it's nice for me to see that Bitcoin is really the best among all the cryptos.

[ged00u]

It really depends on the people. Someone will create or already created a cryptocurrency that can make the bitcoin obsolete. It may not be clear now but in the future when someone will be interested in that certain cryptocurrency and pump its value then maybe bitcoiners will transfer some of their funds to that cryptocurrency and later on make the bitcoin's value lower.
Anything is possible.. Btc can be replaced.. But not in a short term...may be in the future

This is true,bitcoin could really be replaced by other crypto on which it bypasses the features of bitcoin as of now but i do believe it would really be a long time because seeing the progress and adoption of bitcoin as of now i could say that its hard to beat it in todays standing.

Only when people accept Bitcoin will another crypto can replace Bitcoin. At the moment, we are looking forward to seeing the Bitcoin adoption worldwide. However, the number of Bitcoin users still remain small and it is unlikely that Bitcoin will be considered as a currency for the next 10 years

[revans]

It really depends on the people. Someone will create or already created a cryptocurrency that can make the bitcoin obsolete. It may not be clear now but in the future when someone will be interested in that certain cryptocurrency and pump its value then maybe bitcoiners will transfer some of their funds to that cryptocurrency and later on make the bitcoin's value lower.
Anything is possible.. Btc can be replaced.. But not in a short term...may be in the future

This is true,bitcoin could really be replaced by other crypto on which it bypasses the features of bitcoin as of now but i do believe it would really be a long time because seeing the progress and adoption of bitcoin as of now i could say that its hard to beat it in todays standing.

Only when people accept Bitcoin will another crypto can replace Bitcoin. At the moment, we are looking forward to seeing the Bitcoin adoption worldwide. However, the number of Bitcoin users still remain small and it is unlikely that Bitcoin will be considered as a currency for the next 10 years

The fact is that bitcoin will always be used as a secondary currency and not the primary one, even if it becomes more popular in future and people will start using it but they will only see it as a alternative to other payment system and in future if people find some new and innovative currency in compare to bitcoins then it won't take long for them to switch to new currency.

[richardsNY]

Only Ethereum is able to do this at the moment. I do not know may be in the near future there will be some kind of giant and will bypass all alternative cryptocurrency, but so far only Ethereum is a competitor for the top spot for Bitcoin. You have to understand that now the age of technology and Ethereum is a flexible technology unlike Bitcoin which is digital money.

Ethereum is definitely an interesting project, but the point is that there is no real world usage that suits the average people. People want a few things -- financial freedom -- transfer money without third party interference -- investment solution -- store of wealth solution. Bitcoin offers them exactly that. Why would anyone else want to make use of whatever altcoin just because they have all kinds of flashy features? All these features are nothing more than gimmicks.

[Flodemaga]

Even looking almost impossible, bitcoin is letting some problems accumulate, and this can make the market swicth into another altcoin thas has less issues then bitcoin has at the moment, eth, litecoin and some other new coins are ready to replace bitcoin, the only thing they need is big investment and support since there is a huge difference between bitcoin and others altcoins.

[Senor.Bla]

Even looking almost impossible, bitcoin is letting some problems accumulate, and this can make the market swicth into another altcoin thas has less issues then bitcoin has at the moment, eth, litecoin and some other new coins are ready to replace bitcoin, the only thing they need is big investment and support since there is a huge difference between bitcoin and others altcoins.

I agree and think that an altcoin could replace Bitcoin and that there are also other good coins out there. Bu i do not think that such a coin would need a big investment. What it needs is good support by the users and developers and most important it needs to make a name and get to be known widely.