Will Bitcoin be replaced by another cryptocurrency?

[Xester]

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?

i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.

you know something is going to be replaced, if the goods are already obsolete or less competitive to other products "for example Nokia" is very likely that bitcoin will lose competitiveness right?

But prior to that before bitcoin will lose its competitiveness there should be a crucial and devastating event before bitcoin will suffer such event. But anyways it will not occur to bitcoin since as you notice even after huge  has recovered fast unlike. Aside from that there are no more bubbles and the increase in bitcoin is a display of strength and trust of people towards it.

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[Fatanut]

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?

i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.

Litecoin should have replaced bitcoins a long time ago if so. Almost every altcoin out there are better than bitcoins in terms of features. The only thing that let bitcoin stay at the top is the fact that it's much more popular than most coins and it's the base line of everything. We are all here because of bitcoins. All altcoin's concept is based from bitcoin's concept. Decentralized, anonymous, fast and cheap transactions, etc. At some aspects, altcoins are better than bitcoins.

Popularity is the number one thing that makes people buy something. Like, if Starbucks' coffee or In and Out's burger or Chipotle's burrito wasn't all hyped up on the Internet, people will not be buying those stuffs. We all know that it's unhealthy and there exists much better food than those, but we keep on buying them just because it's popular. It's so popular that we start liking it even when we initially don't.

[deisik]

This may already have been covered, haven't read all 90 pages

IMHO, maybe Bitcoin is not replaced, but it will most likely to be complemented when popularity picks up for real.  Meaning that BTC may function as a store of wealth while other coins function better in transactions, others may be more adopted in gaming or apps etc..

Bitcoin alone as it is today cant do all this, its just too slow.. Maybe the upcoming potential hardfork may reveal a faster bitcoin.

It is not only that (that it is too slow)

It is also too good to be used as payment for cheaper things. Gresham's law asserts that the "bad" money drives the "good" out of circulation. Obviously, Bitcoin is the good money here, though good and bad are relative terms in this context. Bitcoin is expensive and to spend it when you can spend a cheaper coin and get what you need is against human nature. Thus people are inclined to keep bitcoins and shell out cheaper coins. I don't think that faster transactions are going to change anything in this respect (provided other altcoins will be as fast as a faster Bitcoin, of course)

[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?

Well, that is ridiculous belief and speculation. Sometimes, others here became exaggerated for what they're thinking about in bitcoin. Even there is truth behind that question but no one knows what will happen tomorrow. All I can say, it maybe or it maybe not.

[Oralmat]

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?

Well, that is ridiculous belief and speculation. Sometimes, others here became exaggerated for what they're thinking about in bitcoin. Even there is truth behind that question but no one knows what will happen tomorrow. All I can say, it maybe or it maybe not.

It is true, no one know about what would happen tomorrow. But i still believe bitcoin not need to change into other crypto currency. As you said it is a ridiculous speculation, I agree with your thinking because of i want to tell, bitcoin is already a crypto currency and on one other crypto has come to competitive with it. its mean bitcoin will be remain as it is, and finally bitcoin has good career and also has a good past history, So bitcoin don't need to change. 

[NEWGOODOUBLE]

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?

i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.

you know something is going to be replaced, if the goods are already obsolete or less competitive to other products "for example Nokia" is very likely that bitcoin will lose competitiveness right?

But prior to that before bitcoin will lose its competitiveness there should be a crucial and devastating event before bitcoin will suffer such event. But anyways it will not occur to bitcoin since as you notice even after huge  has recovered fast unlike. Aside from that there are no more bubbles and the increase in bitcoin is a display of strength and trust of people towards it.

which can save bitcoin and extinction and maintain bitcoin certainly trust of all users. without that bitcoin will die easily. but you can see a lot of users is very easy to panic when the price goes down, it's because of a lack of trust in bitcoin

[Radientgurkin]

Another thing to consider is how demand/requirements change when the majority of the public enter the market.

Considering the Innovation Adoption curve we can assume that as of today, only the pioneers and early adopters are using cryptocurrency. Once the Early and Late Majority jump on board we'll see what requirements appear..

I can only assume that transaction speed will be one of the requirements.

[carriebee]

As Ive observed, bitcoin cannot be replaced by another cryptocurrency. Nowadays, bitcoin has become growing daily, increasing its price and demand. It cannot be replace because many are using btc already and attracted to bitcoin.

[hawkins]

look at the current situation, making me think that bitcoin price increases that occur continuously make another coin prices to be down. and there will be no altcoin which supersedes bitcoin until the price of a coin exceeds the bitcoin prices.

[Beta-coiner1]

As Ive observed, bitcoin cannot be replaced by another cryptocurrency. Nowadays, bitcoin has become growing daily, increasing its price and demand. It cannot be replace because many are using btc already and attracted to bitcoin.

Do you really believe that?
There was a time when bitcoin was around 1300$. Then is dropped to something like 200$, not it's back around the 1000$ mark.
I do not think bitcoin will disappear in the near future, but you do see, I believe, how unstable it is. Its value, anyway.

[EdenHazard]

look at the current situation, making me think that bitcoin price increases that occur continuously make another coin prices to be down. and there will be no altcoin which supersedes bitcoin until the price of a coin exceeds the bitcoin prices.

if you pay attention into how bitcoin growth , you will know the price keep moving up year by year. the only bitcoin price crisis for me are on early 2015 where it gets dropped to $250 , got 50% drop from $500 previously , make everyone starts to speculated bitcoin gonna die etc.

but it is wrong , bitcoin getting strongger than ever until now , it is shows how superior bitcoin compared to any other cryptocurrency.

[lite]

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?

i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.

There are many altcoins with better features than bitcoin yet bitcoin #1, no matter how many new feature a new altcoin brings bitcoin will always be #1. nothing can replace bitcoin!

[MMA]

look at the current situation, making me think that bitcoin price increases that occur continuously make another coin prices to be down. and there will be no altcoin which supersedes bitcoin until the price of a coin exceeds the bitcoin prices.

i do not think that there will be a single alt coin whose price exceed from bitcoin. bitcoin is number one crypto currency and hope that it will remain as number one crypto currency of the world.

[Xenophoto]

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?

i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.

There are many altcoins with better features than bitcoin yet bitcoin #1, no matter how many new feature a new altcoin brings bitcoin will always be #1. nothing can replace bitcoin!

Unless of course a new altcoin comes with lightning network. That will make people migrate literally right away when they found out about the coin. Real-time confirmation is something we've all been dreaming of ever since. This will probably overthrow bitcoin from its place. And what more if the same coin doesn't require any transaction fee? It will surely replace bitcoin unless bitcoin already have that feature which I doubt since transaction time is getting longer and longer and transaction fee is getting even higher.

In other words, we need an altcoin with a killer feature and not some small gimmicks or just slight improvements. It will take a massive improvement that's almost like a "leap" in the cryptocurrency technology for people to migrate from bitcoin to that coin.

[Yatsan]

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?

i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.

There are many altcoins with better features than bitcoin yet bitcoin #1, no matter how many new feature a new altcoin brings bitcoin will always be #1. nothing can replace bitcoin!

Unless of course a new altcoin comes with lightning network. That will make people migrate literally right away when they found out about the coin. Real-time confirmation is something we've all been dreaming of ever since. This will probably overthrow bitcoin from its place. And what more if the same coin doesn't require any transaction fee? It will surely replace bitcoin unless bitcoin already have that feature which I doubt since transaction time is getting longer and longer and transaction fee is getting even higher.

In other words, we need an altcoin with a killer feature and not some small gimmicks or just slight improvements. It will take a massive improvement that's almost like a "leap" in the cryptocurrency technology for people to migrate from bitcoin to that coin.

Agree with that because in bitcoin they're not maximize the features of it so if a new cryptocurrecy will be created it need a ultimate upgrade for that currency to surpass bitcoin and it need to be open to all people not like other coin, so let's hope for the best but if bitcoin will upgrade their system I will go for bitcoin.

[KesoNie]

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?

no it will never be. because it is the first and father of all alt coins and it has the highest value among all other crypto currencies. and many of people in the world are now investing on it , people get interested on it.

[danherbias07]

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?

i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.

There are many altcoins with better features than bitcoin yet bitcoin #1, no matter how many new feature a new altcoin brings bitcoin will always be #1. nothing can replace bitcoin!

Yes I see a lot of changes with different coins and yet it cannot surpass bitcoin. I guess it is still about trust and being the pioneer strengthens that trust.
Many bitcoin users may have switched to other coins but they didn't leave their bitcoin wallets zero. They will still leave something for the we dont know when it could increase. We still look forward for that.

[DoublerHunter]

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?

i think bitcoin would not be replace by another cryptocurrency because of its popularity and its features.but if the another currency which would more advance than bitcoin,and having more features than bitcoin could be replace.

There are many altcoins with better features than bitcoin yet bitcoin #1, no matter how many new feature a new altcoin brings bitcoin will always be #1. nothing can replace bitcoin!

Yes I see a lot of changes with different coins and yet it cannot surpass bitcoin. I guess it is still about trust and being the pioneer strengthens that trust.
Many bitcoin users may have switched to other coins but they didn't leave their bitcoin wallets zero. They will still leave something for the we dont know when it could increase. We still look forward for that.

Yes a lot of bitcoin users are using another kind of cryptocurrency for trading and also for their own purpose. Even though there is no altcoin that surpass the bitcoin, i still believed there is still a chance for bitcoin to be replaced because bitcoin is getting older and most of its features doesn't justify now just like the fast transactions.

[choppork]

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?

no it will never be. because it is the first and father of all alt coins and it has the highest value among all other crypto currencies. and many of people in the world are now investing on it , people get interested on it.

Know that being the first aka seniority isn't always enough especially now that the technology changes often. If somebody finds a fix on the transaction time and the transaction fee, and then he made his own coin instead of submitting it to the bitcoin devs, then it might replace bitcoin. This is the issue most of us are having. Also, this opens us to the possibility of buying something from a store, and then having them receive your payment right away. If the transaction fee is even lower than bitcoins, then that will open the possibility to doing micro transactions.

Sometimes being the first one becomes useless because of lack of patch. The thing becomes obsolete and, thus, gets replaced by a newer and better one.

[Winner]

It doesn't look like Bitcoin is going to be replaced by another Digital Payment system anytime soon because most of them aren't used as much as Bitcoin is. Bitcoin has already reached some famous people through news and other certain media so when Bitcoin was featured on the Dope movie, people started to recognize Bitcoin as the real thing.
Bitcoin is far more reliable than the MLM coins that you usually see today so there is a huge gap between the two.