Bitcoin's alternative.

[nizamcc]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

[TraderETH]

In my opinion for today there  are not coins for bitcoin's alternative because developer of coins are not too serious building their coins and they needs much capital, innovation and large comunity. I am doubt if It will be happening for today.

[shinratensei_]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

A lot of people is wanna trading xmr and then finally they're will come back into bitcoin again. and caused by their priced is so high I can't say or defined that is will become a strong reason for money will replacing bitcoin, like ETH you can see a lot of people is saying same with the statement in this time and finally they all get a wrong.

[septian44]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

I think it is impossible bitcoin defeated you try to see now bitcoin prices are very stable in all countries like people are talking about Monero
will be more than the price of bitcoin impossible for me,When that happens bitcoin has no price and I am sure everything will be messed up if the position of bitcoin down.

[traderbit]

well replacing bitcoin for an altcoin is impossible. all altcoins are being used for trading with other currencies. but bitcoin is being used for a lot of things. like shopping. buying things. paying for jobs and works. etc etc a lot more. but altcoins have not that usage in the market.

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

I think it is impossible bitcoin defeated you try to see now bitcoin prices are very stable in all countries like people are talking about Monero
will be more than the price of bitcoin impossible for me,When that happens bitcoin has no price and I am sure everything will be messed up if the position of bitcoin down.

Well if we talk about the price then let me tell you that it happened already. there was an altcoin named Xaurum(which backed by gold) few weeks ago when I checked the prcie thats value was 1.2BTC each Xaur.. but it didn't even effect bitcoin and its usage anyway. and will not in future.. (BTW xaurum owner's started another project and old xaurum is not visible for me, may be the changed the Old Xaur's Ticker, but I can't see this in C-cex)

[Velkro]

Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

I would have effect on bitcoin, but its impossible. Bitcoin is backed by strongest computing power in the world. U can't beat that, new currency would need to have huge advantages which bitcoin cannot adopt.

So its impossible.

[groll]

I cannot think of any alternative crytocurrency to bitcoin as of now.  Bitcoin is the first and the most sought after digital currency in the market today.  Even the trading of other digital currencies were based on the price of bitcoin.  I just think that if ever bitcoin will be dead then so the other cryptos because bitcoin is its foundation.

[NeuroticFish]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

While there is a chance that an altcoin could take bitcoin's place, that chance is very small in the near future.

Yes, bitcoin has some possible problems: block times are big (would you use Mastercard if you'd have to wait 20 minutes to confirm your payment?), past flood tests shown that the network cannot handle well a huge spike in the number of the transactions (one reason being the pools that sometimes don't include as many transactions as they should, another reason the block size).
Bitcoin is, unlike people thought at first, not fully anonymous.

I know for sure (99%) that Dogecoin has much better block times.
I know for sure (99%) that Monero and other coins are anonymous.
These are things that give them an edge.


But neither of them have the strong network Bitcoin has. Dogecoin even experienced the fear of 51% attack; luckily it didn't happen.
There's no altcoin with the strength Bitcoin has. And while this holds true, there's no alternative to bitcoin.

[romero121]

Right now no digital currency has the potential to overcome bitcoin and take its place. As described by few users monero, dogecoin and all will be a competitor for bitcoin but replacing won't happen as the user profile of bitcoin is quite increasing than any other currencies compared to other digital currencies with the rising potential.

[severaldetails]

While there is a chance that an altcoin could take bitcoin's place, that chance is very small in the near future.

Yes, bitcoin has some possible problems: block times are big (would you use Mastercard if you'd have to wait 20 minutes to confirm your payment?), past flood tests shown that the network cannot handle well a huge spike in the number of the transactions (one reason being the pools that sometimes don't include as many transactions as they should, another reason the block size).
Bitcoin is, unlike people thought at first, not fully anonymous.

I know for sure (99%) that Dogecoin has much better block times.
I know for sure (99%) that Monero and other coins are anonymous.
These are things that give them an edge.


But neither of them have the strong network Bitcoin has. Dogecoin even experienced the fear of 51% attack; luckily it didn't happen.
There's no altcoin with the strength Bitcoin has. And while this holds true, there's no alternative to bitcoin.

We share the same opinion.
The infra structure that has grown in the bitcoin system will not be achieved by any other coin.
It is bitcoins greatest strength.
There is simply no need to have a paralell payment system, so nobody will put up that much effort to install it.
All those altcoins out there are just something for traders.
And compared to the large amount of normal bitcoin users, the traders just make a small group.

[OmegaStarScream]

It's impossible for any altcoin to replace Bitcoin , at least not the for moment. Bitcoin is still being developed and there is more to come so It's too early to say that another coin is better just because of what you mentioned.
Only coins I see around the web are Litecoin , Dogecoin , Dash (none of them are comparable with Bitcoin of course) so anything else isn't considered as a valid alternative as they are not used in shops or anywhere , they are just being traded , people wants to become rich while It's not the real purpose of using a cryptocurrency.

[damiano]

Monero is only added to one darknet site that will end up going down and killing monero anyway. Just your everyday pump to the moon before the exit scam that will happen and leave happy bagholders. I don't really look far into any coin taking over Bitcoin, because I don't believe it lol

[NeuroticFish]

Monero is only added to one darknet site that will end up going down and killing monero anyway. Just your everyday pump to the moon before the exit scam that will happen and leave happy bagholders. I don't really look far into any coin taking over Bitcoin, because I don't believe it lol

I tend to disagree.
While altcoins cannot replace Bitcoin, some have they use in the real world and can coexist very good with Bitcoin.
It's a tiny niche which will never really threaten Bitcoin, but it's there.

In the case you said, Monero is fit for that job and I think that it has its future in that; it's the niche for Monero.
It will kill Monero? Maybe, but I don't see how. Maybe governments will ban it, but I don't see how and why, it's a rather small market.

[Doms]

I think it wouldn't be that easy for an altcoin to replace bitcoin altogether. Bitcoin will stay as the primary crypto currency there is around for as long as there's support and transactions happening on a daily basis. We have seen altcoins come and go, while bitcoin remain strong and looks great because of strong fundamentals.

[entrepmind23]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

I don't think so for now that there is an altcoin  that can take place of bitcoin. Bitcoin is getting popular by the day and it has so many uses like you can already buy something with it compared to altcoin that has little value for now and cannot be an alternative payment for fiat because no one is accepting it yet. Maybe when that time comes that an altcoin will take place bitcoin then bitcoin may still be use because its already popular and that altcoin will be use by people also and they will both exist. Bitcoin will not disappear in the market but instead there would be some kind of competition for the two coins.

[deisik]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

I think nothing out of the ordinary will happen. If some coin does make it to the top (which is still a big if), Bitcoin will lose its grasp on the cryptocoins market it now has and will become just one of many other altcoins that have been floating around for some time now...

Lites, doges have been there (here) for years already

[pawel7777]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

The best argument I heard in the past was, that when certain altcoin gains a lot of popularity because of its unique, superior features, then you could just implement such features in Bitcoin.

But after seeing Bitcoin devs not being able to agree on something as trivial as blocksize increase, many no longer see the above argument as viable option.

[NorrisK]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

The best argument I heard in the past was, that when certain altcoin gains a lot of popularity because of its unique, superior features, then you could just implement such features in Bitcoin.

But after seeing Bitcoin devs not being able to agree on something as trivial as blocksize increase, many no longer see the above argument as viable option.

The same will happen to these altcoins if they reach the status and market use that bitcoin has managed to acquire.

When the coins have small market caps and little users, the only transactions being back and forth to exchanges, ofcourse it is easy to implement new features. But if these coins reach multi billion dollar market caps, coins being used for all kinds of different things, this changes also for them. More people will be involved with more different opinions, fear of fuck ups like the ethereum chain split after hardfork, etc.

Bitcoin may have gotten very slow and stale, but atleast it is stable and working for now (transactions are becoming a problem though, it is getting slower and more expensive to send stuff through).

[Script3d]

I have been thinking about this and thought to put it here what's on my mind.
Just think that if some other altcoin has the potential to take place of bitcoins, like people are talking about Monero to take its place because of its privacy and security, what would happen to bitcoins? Is there any altcoin currently which can do this? And if yes, what would be the effect on bitcoins?

if your looking for bitcoin alternative with the same price as bitcoin but there no other altcoin that have this price but there is a potential altcoin that might reach this price try to look altcoin that doesnt have on trading

[deisik]

Bitcoin may have gotten very slow and stale, but atleast it is stable and working for now (transactions are becoming a problem though, it is getting slower and more expensive to send stuff through).

The main issue with such approach is that it may turn out that when the moment arrives (to copy some unique and superior features from a certain coin), the ship has already sailed and it might be too late to change anything. The history is full of stories when now defunct businesses failed to adapt in due time and got competed out of existence by more agile companies...

Could the same thing happen to Bitcoin? I think it is quite possible