Can other cryptocurrency ovetake bitcoin inthe future?

[UDC]

I was thinking the same thing, but then I came to a conclusion that we'll never see any real competition to the bitcoin and it will be the only real player in the world when it comes to cryptocurrency.
Now many may say that such coins like dash or ETH  or even zcash might replace it but lets be honest there is no true alternative to bitcoin.

well i think either some other cryptocurrency comes along and dethrones bitcoin or a major country will eventually roll out its digital currency, causing a decrease in bitcoin's adoption growth

[alyssa85]

I was thinking the same thing, but then I came to a conclusion that we'll never see any real competition to the bitcoin and it will be the only real player in the world when it comes to cryptocurrency.
Now many may say that such coins like dash or ETH  or even zcash might replace it but lets be honest there is no true alternative to bitcoin.

At the start of this year you could only trade btc and litecoin against fiat, and even with those it was only on exchanges like btc-e.

Since then coinbase, kraken and others have added other alts, and the possibility now exists that if an alt performs better than bitcoin, people will switch to it. It's no longer a bitcoin-only space with alts relegated to alt exchanges. All the players are now configured to be able to switch to any alt that looks like taking bitcoin's crown. That is a major development.

[Clement Kaliyar]

I was thinking the same thing, but then I came to a conclusion that we'll never see any real competition to the bitcoin and it will be the only real player in the world when it comes to cryptocurrency.
Now many may say that such coins like dash or ETH  or even zcash might replace it but lets be honest there is no true alternative to bitcoin.

At the start of this year you could only trade btc and litecoin against fiat, and even with those it was only on exchanges like btc-e.

Since then coinbase, kraken and others have added other alts, and the possibility now exists that if an alt performs better than bitcoin, people will switch to it. It's no longer a bitcoin-only space with alts relegated to alt exchanges. All the players are now configured to be able to switch to any alt that looks like taking bitcoin's crown. That is a major development.

That is true as in the earlier days you could only trade with litecoin and the fiat and now we have quite a number of coins we can deal with and we need a good number of alternatives for the trading market to thrive but have to shut all the fake out out and i figure only yobit has all the fake coins out their and they have to restrict that .

[dbstmddhks]

What is your view of the overtake ?

 "Market capitalization" or "Brand power" or "Usability and Scalability" ?


It it changing "what is your main point"


From wan.

[Viscount]

There's no need in other cryptocurency. In fact forks only disperse our efforts

[UDC]

There's no need in other cryptocurency. In fact forks only disperse our efforts

you know there're cryptocurrencies with completely different code bases right? not all of them are forking on bitcoin

[Snorek]

Bitcoin might not be the backed by the best tech or the brightest solutions we can think of at this moment.

In fact I expect that more sophisticated and 'more efficient' coins will appear in the future but that fact doesn't matter for BTC.

What matters is perfect bitcoin distribution - I am not necessarily talking here about 'lucky' early adopters or stash of Satoshi.

The reality that bitcoin was totally worthless matters here - every new altcoin is supposed to be worth something the more expensive the better.

I am not worried that altcoins will beat BTC because their distribution will never be ideal as the distribution of something that initially had completely no value.

[Bitcoin0916]

It is not impossible, the new cryptocurrencies system offers much better than bitcoin. For an example is the Etherium and Monero, the main problem is too many bitcoin confirmation so make bitcoin too long to wait.

[shinratensei_]

It is not impossible, the new cryptocurrencies system offers much better than bitcoin. For an example is the Etherium and Monero, the main problem is too many bitcoin confirmation so make bitcoin too long to wait.

Not all of the disadvantages in bitcoin was useless, the confirmation has needed for prevent the double spend. Someone can spend one stuff for double and read this.
https://medium.com/@octskyward/double-spending-in-bitcoin-be0f1d1e8008#.qg1ry4ixj

[RealPhotoshoper]

It is not impossible, the new cryptocurrencies system offers much better than bitcoin. For an example is the Etherium and Monero, the main problem is too many bitcoin confirmation so make bitcoin too long to wait.

slow confirmation doesn't mean make bitcoin weak and overtake-able.
the "kingdom" of bitcoin is too strong to break and to be replaced.
monero or ethereum not even worth to compare to bitcoin , they have a potential indeed but let's see how long they can survive defend their feature.

[dinofelis]

There's no need in other cryptocurency. In fact forks only disperse our efforts

Monopoly is always a bad idea.

[Wandering Soul~]

Well this is not impossible to happen . I mean who knows what the future might bring? Maybe some time in the future, some altcoin is invented that is better than bitcoin, Who knows?

But breaking the walls of bitcoin will be really hard,  After many years pass by bitcoin still reigns as the most used cryptocurrency  .

[smyslov]

Everyday new altcoin are posting new innovation and great features but until now they are all just potential and bitcoin is still the leading currency,but I'm not discounting the idea that it's possible that a new crypto currency will emerge in the market that can compete with Bitcoin's supremacy.

[Zadicar]

Everyday new altcoin are posting new innovation and great features but until now they are all just potential and bitcoin is still the leading currency,but I'm not discounting the idea that it's possible that a new crypto currency will emerge in the market that can compete with Bitcoin's supremacy.

Anything on this world could possibly be replaced by another thing.In the situation of bitcoin,it could possibly be surpassed by other altcoins but regarding on its state now  i dont think it that can alt could easily replace it.As you mentioned  almost every week or months there are new altcoins are being created with some new feature compared to bitcoin but it cant really out power bitcoin.

[salmanahmedone]

What always surprises me is that new altcoins start new block chains, instead of forking off bitcoin.
Of course, in as much as altcoins are meant to profit from the initial seigniorage, that's understandable, but given that one of the main difficulties of a cryptocurrency is the fairness of its initial distribution, and that bitcoin has, because of its origins, one of the better initial distributions, it would seem to me that when creating a new altcoin, instead of starting a new block chain with all the hassle of trying, again, to obtain a fair "initial distribution", using bitcoin's distribution at a certain point (the forking block, eventually in the past) solves this issue way way better than "doing it over again".

If that's the case, altcoins are just "alternative bitcoins" and one cannot really say that they "overtake" it.  They would simply be forks of the same original chain.

The fork could be entirely radical, with different emission schemes, different mining, different rules: the only thing that is taken over from bitcoin is the initial distribution at the moment of forking.  One could even eliminate Satoshi's stash if that's considered a potential problem.

Nobody has done this as far as I know, and I don't know why (except for the obvious reason that this doesn't allow for an initial scammy premine or ninjamine).  the boundaries between "bitcoin" and "altcoins" would be much more blurred then.  All bitcoin holders (in the past) would then automatically become new coin holders too, which would create an initial community much larger than what one could hope with a new chain.   For the fairness and the quality of the new coin, I cannot think of a better way to start it than fork it off bitcoin, but I never saw this happening.

That is a wonderful idea and I think Byteball is coming up with something like you have mentioned. But a user have to use the bitcoin address and prove that he controls the address by signing the message and after verification you will get equal amount of byteball tokens/coins as your btc balance.

[iamnotback]

What always surprises me is that new altcoins start new block chains, instead of forking off bitcoin.
Of course, in as much as altcoins are meant to profit from the initial seigniorage, that's understandable, but given that one of the main difficulties of a cryptocurrency is the fairness of its initial distribution, and that bitcoin has, because of its origins, one of the better initial distributions, it would seem to me that when creating a new altcoin, instead of starting a new block chain with all the hassle of trying, again, to obtain a fair "initial distribution", using bitcoin's distribution at a certain point (the forking block, eventually in the past) solves this issue way way better than "doing it over again".

Can't solve the onboarding problem that way. Bitcoin has the most exclusive distribution of geeks. Sorry.

I think Byteball is coming up with something like you have mentioned.

Everyone will dump their free Byteball tokens and the market value will be destroyed. Auroracoin tried money drops. They don't work.

Russia returned land to the peasants after Perestroika and the peasants sold it back to the oligarchs.

[JeffBrad12]

What always surprises me is that new altcoins start new block chains, instead of forking off bitcoin.
Of course, in as much as altcoins are meant to profit from the initial seigniorage, that's understandable, but given that one of the main difficulties of a cryptocurrency is the fairness of its initial distribution, and that bitcoin has, because of its origins, one of the better initial distributions, it would seem to me that when creating a new altcoin, instead of starting a new block chain with all the hassle of trying, again, to obtain a fair "initial distribution", using bitcoin's distribution at a certain point (the forking block, eventually in the past) solves this issue way way better than "doing it over again".

Can't solve the onboarding problem that way. Bitcoin has the most exclusive distribution of geeks. Sorry.

I think Byteball is coming up with something like you have mentioned.

Everyone will dump their free Byteball tokens and the market value will be destroyed. Auroracoin tried money drops. They don't work.

But it seems like stratis was being the future of altcoin, They haven't got decreased in its value. And  there is not the another coin has had the same result.
I'm not a stratis fan but just looking their history.
 

[MFahad]

What always surprises me is that new altcoins start new block chains, instead of forking off bitcoin.
Of course, in as much as altcoins are meant to profit from the initial seigniorage, that's understandable, but given that one of the main difficulties of a cryptocurrency is the fairness of its initial distribution, and that bitcoin has, because of its origins, one of the better initial distributions, it would seem to me that when creating a new altcoin, instead of starting a new block chain with all the hassle of trying, again, to obtain a fair "initial distribution", using bitcoin's distribution at a certain point (the forking block, eventually in the past) solves this issue way way better than "doing it over again".

If that's the case, altcoins are just "alternative bitcoins" and one cannot really say that they "overtake" it.  They would simply be forks of the same original chain.

The fork could be entirely radical, with different emission schemes, different mining, different rules: the only thing that is taken over from bitcoin is the initial distribution at the moment of forking.  One could even eliminate Satoshi's stash if that's considered a potential problem.

Nobody has done this as far as I know, and I don't know why (except for the obvious reason that this doesn't allow for an initial scammy premine or ninjamine).  the boundaries between "bitcoin" and "altcoins" would be much more blurred then.  All bitcoin holders (in the past) would then automatically become new coin holders too, which would create an initial community much larger than what one could hope with a new chain.   For the fairness and the quality of the new coin, I cannot think of a better way to start it than fork it off bitcoin, but I never saw this happening.

I am not that into the project but heard something like it.
Do check it out if you are interested to know more.

[cakravothy]

ethereum can potential to overtake bitcoin
but still never overtake is bitcoin not die
only bitcoin can easy exchange to fiat money, only ethereum and litecoin can several exchange sample kraken can support pair fiat money

[mmo_online_1981]

I think have some coin like this but not now