Will Bitcoin be replaced by another cryptocurrency?

[Predator25]

Yes it could happen but i doubt very much it will happen the short to medium term, to actually make bitcoin obsolete would be a achievement.

Maybe. But bitcoin is the most trusted by many users. And it has higher value than any other currecy so for me. Theres no other crypto currency can beat the bitcoin. Bitcoin is becoming more famous as of now. Bitcoin is on the top than any cryptocurrencies.

[FacelessCrypto]

Right now, all cryptos are like an Investment ASSET Class". In general  Common people neither  use it for transaction nor for buying any items.
So why price raising ? Some elite intelligent class bet on it and switch money from hands to hand exactly like a stock market(Shark eating Shark). While I am not going to comment on bubble, Bull/Bear part, I would like to specify that  Bitcoin is like a bluechip in Crypto stock market. There is a clear need of other cryptos for smaller fishes to grow.

ANd Bitcoin cannot be alone in blue chip Segment..
While "Bitcoin will be replaced?" could be  an irrelevant  question, the right question could be that "Which are the other coins stand along with Bitcoin as blue chip.

And it will happen because more and more people coming in and buying Cryptos and affordability bitcoin as an investment is getting difficult.

When someone say Bitcoin is doing Good, whats that means ?  Is it doing good in exchange due to pure speculation ? or due to Underlying fundamentals improved?      In between What are the underlying fundamentals of a Cryptocurrency ?

In General Bitcoin is slowly dying like in the grip of a python snake - due to high transaction fee, Large Block data , and delay in confirmations.  Other way to say is like Its getting killed by its on weight.

Bitcoin is moving away from the concept as universal currency, as transactions becoming slow and high fees.

This leads to raise of other faster transaction Coins.

[millgates]

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?

yes it will but in short percentage. bitcoin is very famous now compare to others. in trading they prepfer to use bitcoin as main currency to exchange it for altcoins.

In my opinion Etherium, doge and golem is the stronggest altcoin that have big chance to be famous as bitcoin. But I think no one of them that can replace bitcoin as the number one currency. Also the chance is very small.

[Vishnu.Reang]

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?

yes it will but in short percentage. bitcoin is very famous now compare to others. in trading they prepfer to use bitcoin as main currency to exchange it for altcoins.

In my opinion Etherium, doge and golem is the stronggest altcoin that have big chance to be famous as bitcoin. But I think no one of them that can replace bitcoin as the number one currency. Also the chance is very small.

Have you checked the hash rates of these coins (ETH, DOGE.etc)? Check it here:

https://bitinfocharts.com/comparison/bitcoin%20cash-hashrate.html

As you can see, the only altcoin which is capable of giving any competition to BTC in hash rate is Bitcoin Cash. Here is the latest hash rate for the top coins:

BTC: 4.55 E
BCH: 3.00 E
ETH: 89 T (0.000089 E)
LTC: 14.65T
DASH: 26.96T

[soham]

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 is tough but not impossible. Another worthy crypto coin can replace bitcoin in future when the bitcoin mining will be stopped. But that's not going to happen anytime soon because bitcoin is running high on positivity from around the world and the market cap is also increasing.

So it is not possible now, but in future, it can be possible by a worthy coin. I have already started to buy ETH and Neocoin for my future savings. I hope they will be high enough in future to make a good profit out of it.

[ivrynx]

I can say that bitcoin is not irreplaceable, but bitcoin being used as a transaction by majority of people who are cryptocurrencies, just makes bitcoin being trusted and easy to handle with. I think you should clarify question, if you mean replaced, bitcoin is going to be taken over by another cryptocurrency in terms of value, i think there is a possibility, bu that cryptocurrency will be needed to be exchange to bitcoins if you want you want to exchange it fiat, since there are a lot of platforms wherein you can exchange bitcoin to fiat, but not other cryptocurrency can be exchange to fiat, what you can do with other cryptocurrency is still you can use it as digital money in exchange for goods or services. If you are asking if people will be using another cryptocurrency as their major investments, i doubt that happening in the near future, bitcoin has a lot of potential and is now showing how it can be dominant to other crypocurrencies, just check the historical charts. I think this question needs to be revised in order to be answered correctly since the question is vague.

[raven7886]

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's achance. Once a new cryptocurrency rise, and it became more profitable to its user, there a chance that Bitcoin users will transfer into it. Bitcoin remained the no.1 cryptocurrency for a long period of time becase of its big community  If its big community will transfer into other crypto, its demand will fall as well as its value. But I'm sure that it will take more years to come before this sutauion happen since Bitcoin at this moment is dominating the crypto world.

Why would we leave the side of our beloved Bitcoins ? I have firm believe in it and no crypto currency can take its place. If this was the case, it would have already happened. Bitcoin has a lot of rivals or enemies and it has put them all in their place. Also, Bitcoins will keep on improving with time and I am sure it will meet our other requirements also (if any).

[PacePay]

I can say that bitcoin is not irreplaceable, but bitcoin being used as a transaction by majority of people who are cryptocurrencies, just makes bitcoin being trusted and easy to handle with. I think you should clarify question, if you mean replaced, bitcoin is going to be taken over by another cryptocurrency in terms of value, i think there is a possibility, bu that cryptocurrency will be needed to be exchange to bitcoins if you want you want to exchange it fiat, since there are a lot of platforms wherein you can exchange bitcoin to fiat, but not other cryptocurrency can be exchange to fiat, what you can do with other cryptocurrency is still you can use it as digital money in exchange for goods or services. If you are asking if people will be using another cryptocurrency as their major investments, i doubt that happening in the near future, bitcoin has a lot of potential and is now showing how it can be dominant to other crypocurrencies, just check the historical charts. I think this question needs to be revised in order to be answered correctly since the question is vague.

I agree with this. If the question is about the replacement of bitcoin by any other cryptocurrency then I think most of us here still say no. what bitcoin have done so far in the market could not be done by any other crypto. So I think bitcoin will be dominant in coming years and there will be a blast in market of just bitcoins, I assure you.

[redsun114]

Maybe this is true to think this is very likely to happen in the future, if now there is better technology than bitcoin so we wait for the next few years.

I don’t believe on this. Bitcoin is a crypto currency which change the major systems of the world. Where people used to use paper money, now they use bitcoin for their payments etc. bitcoin’s features are itself the proof of that it is the most emerging thing now. And yes, it will have big competitors in the future but the pioneer always is pioneer. It all started with bitcoin, so bitcoin can never be replaced by a crypto.

It is not always like that, if there will be a huge problem with bitcoin then the users of bitcoin will find another cryptocurrency that will help them to escape from that problem and with the other cryptocurrency they can continue their journey. If there will be cryptocurrency that has better features and capabilities then that will become a replacement for bitcoin.

I think we are already seeing the future take shape.

It  isn't going to be a "one size fits all" proposition. We are already seeing how other coins like ETH, DASH and a few others have evolved to address more local and specific markets applications.

From what I'm observing now is how the other coins are bringing stability to bitcoin and cryptocurrency applications.

It is perhaps our old way of thinking to seek the supposed "one" coin of the future is not the right way. After all, the super computing tecnology which we have at our fingers could mean everyone might have their own personalized coin...

Who knows, but the possibilities seem rather big and beyond anything we can imagine now.
 
Back in 1993 the technology we take for granted now was unimaginable.

We are on the cusp of a similar step of cultural/techno evolution.

Hang on for a wild ride!

I would like you to elaborate your idea behind "everyone might have their own personalized coins". Difficult to digest for me or you can say I am a person with little wisdom when compare to you. ^_^
Whatsoever, I believe Bitcoin is the future currency and no other digital currency can take its place ever. If others will show improvement then BTCs is not sleeping either.

[Igebotz]

actually they sad bitcoin will be secure until 2030 to 2040 it is possible that bitcoin will replace by ethereum or other cryptocurrency and now many app are using ethereum i think ethereum will the next bitcoin. or maybe bitcoin will not replaced but it will because luxury of cryptocurrency . bitcoin will be the just investment  than trade in future like a real gold not use in transaction but just an investment.

[E-shipper]

Perhaps in the distant future there will be a stronger crypto currency that will displace bitcoin and make it simply useless. To do this, it takes a long time to create and make it popular.

[Abiky]

I dont think so, what made you think that it will be replaced by another crypto currency? Bitcoin is the most trusted crypto now and has the largest value. Even the one on second place to bitcoin can't replace it. It has made its name to the community for ages.

True. Bitcoin has established its name among the crypto space for many years since its inception. It has been the first cryptocurrency that brought us the blockchain technology, where most of the things we have now, couldn't have been possible without it.

While it has an advantage over the markets, there could exist a possibility of becoming replaced by another cryptocurrency if it aims to provide better technology and solve many of the issues underlying the pioneer cryptocurrency. The odds of this becoming a reality are very small, but anything could happen if Bitcoin fails to deliver a solid scaling solution to handle large transaction throughput.

With the inception of Bitcoin Cash, the battle against Bitcoin has strengthened even further, increasing the possibilities of a takeover in the pioneer cryptocurrency's market cap. The final step of SegWit2x is bound to come into effect this November, so I guess that we will have to wait and see what happens by then, to be able to determine Bitcoin's future in the market. Just my opinion.

[bohr]

There are many emerging currencies which gonna create healthy competition crypto market. So far BTC is the leader but who knows maybe in a few years there will be a different picture.

BTW Here is the great 4min read article from CH about Cryptocurrency's history and its value today.

There does not seem to be an indication that bitcoin is going to lose its top spot any time soon, some projects are very good an are valuable projects, but when it comes to the trust that people have then there is no doubt in my mind that no other cryptocurrency comes even close, and as long as that is the case, then bitcoin has nothing to fear from other cryptos.

[webmastax]

Nothing is impossible. But in near future hard to find an altcoin good enough to replace the Bitcoin.

[BUK2016]

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 as for me, I don't believe such a thing could happen because base on the current market value of Bitcoin as compared to other coins it seems impossible. Although time shall tell and it be like a miracle if it eventually happen.

[PacePay]

With the development of time everything is possible, but  it is very difficult. ,After all, the development of bitcoin longer

well everything is possible but not with bitcoin because bitcoin is the boss of crytocurrencies and it will never be replaced by any other currency. Look at the price rate and the number of investors of bitcoin, do you think it will possible for a person to change its investment to other currencies who invest millions on bitcoin and get billions as a profit?

[JCO05]

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's a possibility. And I think the most potent enough to rplace Bitcoin is one of the Alts. All cryptocurrency including bitcoin, are dependent to the market demand. If there'll be a crypto which is more in demand, and has a higher market value than Bitcoin, that'll be the possibility for Bitcoin to be replaced as the no.1 crypto but not totally be obsolete. Obsolete, if I'm not mistaken, is to be no longer used, ehich won't happen to Bitcoin. The only possibility is that, there might be a crypto which will be more indemand, and it doesn't mean that Bitcoin will be useless.

[BartS]

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?

At this moment it is difficult to imagine any coin overcoming bitcoin and its great founder advantage, it will need to be a coin that must be better in almost every aspect and to have trusted developers, since that is very unlikely I think the dominance of bitcoin is going to continue for a very long time especially if we take into account that bitcoin is finally being recognized all over the world, so if that coin does not appear soon I think it will be impossible to replace bitcoin.

[Gandam23]

To believe (e.g. to be certain) something like that does not make rational sense. To say that is a statistic probability makes much more sense. However, this has been discussed over and over again. In order for the cryptocurrency space to thrive, it would be most suitable if there were multiple coins at the top and not just one (as currently Bitcoin is). Nobody can say that either one will happen for sure; they would only be speculating.

I dont think so. Because bitcoin the most trusted currency as of now. So i dont think that there's anothed cryptocurrencies can beat bitcoin. Because bitcoin is known and becoming more famous as the time goes by.

[Sithara007]

To believe (e.g. to be certain) something like that does not make rational sense. To say that is a statistic probability makes much more sense. However, this has been discussed over and over again. In order for the cryptocurrency space to thrive, it would be most suitable if there were multiple coins at the top and not just one (as currently Bitcoin is). Nobody can say that either one will happen for sure; they would only be speculating.

I dont think so. Because bitcoin the most trusted currency as of now. So i dont think that there's anothed cryptocurrencies can beat bitcoin. Because bitcoin is known and becoming more famous as the time goes by.

A few months back, Bitcoin's share in the total crypto market capitalization was above 90%. This figure has come down to around 45% now. So you can't be certain that no other crypto can beat Bitcoin. There is a chance, albeit a small one.