Will Bitcoin be replaced by another cryptocurrency?

[bnm123]

Before you make these trades, you should understand how it will effect your taxes, since the IRS now classifies cryptocurrencies as "property." I found this paper helpful for understanding the tax implications/issues: https://scholarship.law.duke.edu/dltr/vol16/iss1/1/.

[learner 7]

Bitcoin's price is flying and rising with rocket speed.. i think bitcoin will survive always as the leader while it may have competitor but i think bitcoin is the most expensive and most well-known coin in crypto currencies. So it will stay as it is..

I completely agree with you bitcoin will always be in the first place, now there are coins that surpass bitcoin for example by anonymity, transaction speed, commissions but it is still the first.

[bvg96634]

Yes when Bitcoin is replaced to another cryptocurrency then Bitcoin is obsolete. But Bitcoin Price is raise rapidly so it is not required to replace. Bitcoin is more important cryptocurrency for today and topest also

[ausbit]

I don't think replacing bitcoin will be possible, but having another competing crypto at the top is possible in future, especially ethereum, considering its potential to significantly increase in value in the coming years,

Bitcoin is opening doors and expanding the collective awareness.

As this awareness expands, consumers will begin looking at other competing brands. These new coins will find various niches in the space much like how with the automobile there are SUV's, sports cars, pickup trucks, etc. One of the next major currencies that will be discovered is Goldcoin.



It's something that could be attractive to central banks. Central banks around the world are aware that the international monetary system is moving away from the US dollar and that the role of cryptocurrencies will become much greater in the future. However, sudden shocks could bring the global economy into free fall.

Therefore, central banks will have no choice but to accumulate crypto reserves. Goldcoin (GLD) is ideally suited for use as a reserve currency by central banks because it's built on the original Nakamoto protocol and has been fully hardened by our 51% defense system.

So I don't think Bitcoin will be "replaced." I think it will be instead "complimented" by these other various makes and models.

Yes, I agree with you that bitcoin can face some competition in future. As it is facing right now. Bitcoin hold 50 percent of market shares and rest is other currencies. But its value will always be larger than others. Because it has built its foundation very strong and holds most of the market shares.

And any new investor when comes to the market, watches the trends of that market. So in this way bitcoin was already secured its future. And you do not have to worry when investing in bitcoin.

[guoyu78]

As we know it seems difficult to outperform bitcoin especially now that the competition is very tight, for a newly pioneered coin will surely be hunted by a large coin coin.
to climb to the top is very difficult let alone his opponent bitcoin that now most countries have received it, I think if anyone can rival the bitcoin I think it is impossible.

Bitcoin can not be replaced by any other currency will never be replaced. The authentic proof is that it is increasing in number of investors and its value is always climbing up. So it entraps the potential investors to invest more and more in this field. Because of the fact that its value increases by increasing the number of investors.

More the value of investments. More the value of bitcoin. It is as simple as you read this statement. Bitcoin is easy to invest in and it also can be obtained by digging. Some people also dig and sell their bitcoins to others.

[BitChief]

Yes it makes sense. Nothing is impossible. There are already other cryptocurrencies today, and it's possible that it might be replaced, especially if the value of the new digital currency is higher than bitcoin

Yes I agree, you can never say never

[Lannie25]

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 own perspective this thing is impossible or can never be happen. The company and management of bitcoin perform excellent pin the public market;
which gives them lots of achievement that consider them the best and number one company in electronic banking industry.

[Icey47]

While it is definitely possible, I don't see any other widely accepted Cryptocurrency other than Bitcoin today. That being said, I don't think it will happen just yet.

[altcoinhunter01]

It is not possible in near future but it can happen after 1-2 years because now crypto currency craze is going big and many altcoins growing due to bitcoin high price and it is not in many peoples buying range hence small investors cannot buy bitcoin and they are buying altcoins like ethereum, dash and monero.

[StonedWolf]

In my opinion, sooner or later this change will take place in the cryptocurruncy's market !
In fact, there is a therie proving that every virtual currency once equal a certain level of value will explode and loss all its value. Which is very logical because in our life all follows the gossian curve more precisely : weakness ->  strength ->  weakness.

Anything can happen in future, this is competitive world so bitcoin also can face some competitor's. But bitcoin remain as the top most, stronest currency because already it's a strongly established cryptocurrency. For another cryptocurrency life is not easy to sustain and to give competition to bitcoin.

I do not think that another cryptocurrency can replace bitcoin, it's very far from realizable, it's an imaginary thing more than realistic. While bitcoin exists. In fact, the gap between bitcoin and other altcoins is very wide, and day after day it is getting larger. and if one altcoins marks a progression in its value surely bitcoin will have the same thing or even faster !

[codecares]

I don't think bitcoin will be replaced, but i think the price will profit hence high that there will be abnormal cryptocurrency or several that will be used in conjunction taking into account bitcoin. I think here is room for future  than one.

[puranijeans0011]

While it is definitely possible, I don't see any other widely accepted Cryptocurrency other than Bitcoin today. That being said, I don't think it will happen just yet.

Time has shown that nothing is permanent. Bitcoin has gained considerable fame as it is the pioneer of the blockchain revolution. This achievement means that it will hold it's place as the leading cryptocurrency for a while. Nevertheless, new inventions will lead to new revolutions. It hasn't even taken long for Bitcoin to find it's rival in Ethereum so if the past and the present is anything to go by, Bitcoin won't be as hot a currency if new technologies come through soon enough.

[JRoa]

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 people who saying that bitcoin will be replaced by another cryptocurrency are all idiots. Bitcoin is very strong and there is no altcoins that can beat bitcoin. The power of bitcoin is growing because many people are patronizing it.

[youdacapt]

While it is definitely possible, I don't see any other widely accepted Cryptocurrency other than Bitcoin today. That being said, I don't think it will happen just yet.

Time has shown that nothing is permanent. Bitcoin has gained considerable fame as it is the pioneer of the blockchain revolution. This achievement means that it will hold it's place as the leading cryptocurrency for a while. Nevertheless, new inventions will lead to new revolutions. It hasn't even taken long for Bitcoin to find it's rival in Ethereum so if the past and the present is anything to go by, Bitcoin won't be as hot a currency if new technologies come through soon enough.

bitcoin just like gold, silver and other natural resources can never be a successor, but bitcoin has the fact that they are a currency that can still be developed with the technology of innovation without stopping, so bitcoin will always get a strong successor candidate because of the very innovation competition strict. Bitcoin can lose and be replaced if in the end there is a cryptocurrency that is really regulated and developed by the world government.

[puranijeans0011]

While it is definitely possible, I don't see any other widely accepted Cryptocurrency other than Bitcoin today. That being said, I don't think it will happen just yet.

Time has shown that nothing is permanent. Bitcoin has gained considerable fame as it is the pioneer of the blockchain revolution. This achievement means that it will hold it's place as the leading cryptocurrency for a while. Nevertheless, new inventions will lead to new revolutions. It hasn't even taken long for Bitcoin to find it's rival in Ethereum so if the past and the present is anything to go by, Bitcoin won't be as hot a currency if new technologies come through soon enough.

[alphacoco]

I think bitcoin is too big to change its direction. At the moment it doesn't work as a currency and I'm not sure it will/can.

Something else could definitely come along and be the next big currency. Only time will tell if it gets the push, marketing and attention it needs to get mainstream on board.

[MrMonkey]

Nothing is permanent so that is possible but it will take a lot of time, days, months, years for that to happen.

[Rascar Capac]

If something big happened to bitcoin and make the price of bitcoin goes down and even only have small price, i'm sure bitcoin will be replaced by another cryptocurrency.

[Wong Gendheng]

Anything is hard to predict, there's no certainty and guarantees, everything feels very possible, even though bitcoin is currently # 1 but I'm not sure it can survive, some coins or tokens have the same chances to be # 1, it's just a matter of time.

[crytomusica]

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 own perspective this thing is impossible or can never be happen. The company and management of bitcoin perform excellent pin the public market;
which gives them lots of achievement that consider them the best and number one company in electronic banking industry.

If we didn't learn anything from bitcoin, only thing that we must have learned was that nothing is impossible. when no one believed in it when it was a dollar, it came to this levels. that means anything can happen in this market.