Can other cryptocurrency ovetake bitcoin inthe future?

[Pursuer]

Ethereum is essentially a Zombie.  Ever since the DAO, and like MtGox for Bitcoin, will ever hit $15 again?!   

If something overtakes Bitcoin then it has to be scandal free.  Monero might do it if they can put Rpietila under house arrest..

Yup.

Any alternative needs to be
a) scandal free
b) quick to confirm (under a minute)
c) able to handle a large volume of transactions in 24 hours
d) not require people to download mega amounts of data that fills up their hard drive, just to run a wallet.

you know that your "b" and "d" are against each other.
when you are talking about a faster confirmation it means more blocks created. for example compared with bitcoin it means more than 1 block per 10 minutes on average. and there are altcoins that have this feature like 1 block every 30 seconds.
now imagine these altcoins handle the same number of transactions as bitcoin!
full blocks every 30 seconds means blockchain will size will increase 20 MB per 10 minutes and ~2.8 GB each day.

[fortunecrypto]

It's possible I'm looking on Burstcoin and other similar crypto currency with different features and community adoption maybe one day a new coin or an existing one will come up and challenge Bitcoin but right now Bitcoin is still enjoying it's wide gap over all the other coins.

[Red-Apple]

It's possible I'm looking on Burstcoin and other similar crypto currency with different features and community adoption maybe one day a new coin or an existing one will come up and challenge Bitcoin but right now Bitcoin is still enjoying it's wide gap over all the other coins.

the main problem with all the altcoins that users are so happily advertise around here is that they have been created to be pump and dumped in other words their main purpose was to make more money from trading them. they rarely pay any attention to development and important things like real world usage that is why you never see anyone using them as currency in the real world.

of course to all i said there is always exceptions but even they are not that good or useful that can be used widely as bitcoin.

[alyssa85]

Ethereum is essentially a Zombie.  Ever since the DAO, and like MtGox for Bitcoin, will ever hit $15 again?!   

If something overtakes Bitcoin then it has to be scandal free.  Monero might do it if they can put Rpietila under house arrest..

Yup.

Any alternative needs to be
a) scandal free
b) quick to confirm (under a minute)
c) able to handle a large volume of transactions in 24 hours
d) not require people to download mega amounts of data that fills up their hard drive, just to run a wallet.

you know that your "b" and "d" are against each other.
when you are talking about a faster confirmation it means more blocks created. for example compared with bitcoin it means more than 1 block per 10 minutes on average. and there are altcoins that have this feature like 1 block every 30 seconds.
now imagine these altcoins handle the same number of transactions as bitcoin!
full blocks every 30 seconds means blockchain will size will increase 20 MB per 10 minutes and ~2.8 GB each day.

Unless you are using an online wallet, as in Steem. No need to download anything, and extremely quick confirmation. And they did some work to allow people to retrieve their accounts in case a hack took place. They can also handle lots of transactions.

The downside is that the developers own too much of the coin (not premined exactly, but they were mining after a small announcement and most miners missed it, and only came on board when the online interface was added).

[SpaceTrader]

I think that even if some altcoin will get bigger adoption than BTC in rl, BTC will still remain the main currency fot trading...

[VanDeinsberg12]

I think that even if some altcoin will get bigger adoption than BTC in rl, BTC will still remain the main currency fot trading...

Over hundred shitcoin was getting die and that can become an evidence for us about the position of bitcoin. However with the future development of shitcoin with various features, the bitcoin had had his chair and crown.

Every traders was changing his alt into the btc at the end of his day trading.

[carlfebz2]

I think that even if some altcoin will get bigger adoption than BTC in rl, BTC will still remain the main currency fot trading...

Over hundred shitcoin was getting die and that can become an evidence for us about the position of bitcoin. However with the future development of shitcoin with various features, the bitcoin had had his chair and crown.

Every traders was changing his alt into the btc at the end of his day trading.

This thing have been doing on most  traders on which they trade alts but in the end they still exchange it to bitcoin because  btc has more value compare to those alts and also they are somehow dependent to bitcoin.I really believe even how those altcoins such have unique feature its still impossible to replace bitcoin to its place because its the father of all crypto but no one knows really if some coins is much more better to bitcoin on the near future.

[iamnotback]

Re: Can other cryptocurrency ovetake bitcoin inthe future?

With many new cryptocurrencies sprouting in the net, is it possible that bitcoin can be overtaken as a top digital currency in the future?

We are working on it.

[audaciousbeing]

This is something I just spoke about not too long ago. I dont see that happen even if it will, its not happening anytime soon because all we see in Alts are just the initial hype and nothing more and even the developed being true to themselves knew they dont have the objective in mind just to create something to trade with and it goes off like that. Maybe one will break the jinx in the near future.

[Przemax]

The only way that alts could take down bitcoins is by connecting some source of power or reallife goods to those altcoins. I see the future as some corpocoins taking such roles. It might not be the same kind of corporations that we know today but yeah. Thats how I see it.

[Adbitco]

Like I said before somewhere in this forum that the possibility of any other cryptocurrency overtaking bitcoin can't be denied. People having identified the flaws and disadvantages bitcoin has may come up with other cryptocurrency which are foolproof and technologically more advanced and acceptable and at the same time don't have flaws which other cryptocurrencies have till today.

[UDC]

Ethereum is essentially a Zombie.  Ever since the DAO, and like MtGox for Bitcoin, will ever hit $15 again?!   

If something overtakes Bitcoin then it has to be scandal free.  Monero might do it if they can put Rpietila under house arrest..

Yup.

Any alternative needs to be
a) scandal free
b) quick to confirm (under a minute)
c) able to handle a large volume of transactions in 24 hours
d) not require people to download mega amounts of data that fills up their hard drive, just to run a wallet.

There are already some alternatives it seems.
For example, with the one i'm currently developing, transactions will be confirmed and published within seconds (doesn't have to wait for our "block-equivalent"). It uses different mechanisms for validating transactions (no PoS/PoW) so the validation work is more balanced and less redundant, increasing the overall transaction throughput of the network.
Also, the nodes are made to be abstracted from the general users so they don't actually need participate with the network (unless they want to) or store/synchronize all that extra unnecessary information.

It's called Unified Digital Currency (UDC) and the whitepaper is already available.
Announcement thread: https://bitcointalk.org/index.php?topic=1666899

[Shinpako09]

That thing is not gonna happen even in the future. They cant even come close to btc. And we know most of altcoin is just a shitcoin. Maybe some are trusting on those popular alts but not like the trust they are giving to btc.

[UDC]

That thing is not gonna happen even in the future. They cant even come close to btc. And we know most of altcoin is just a shitcoin. Maybe some are trusting on those popular alts but not like the trust they are giving to btc.

well bitcoin did take a couple of years before catching on. Trust takes a bit of time, specially when most aren't useful or have problems like you say

[dearbesz1219]

With many new cryptocurrencies sprouting in the net, is it possible that bitcoin can be overtaken as a top digital currency in the future? Is ethereum  or other well known cryptocurrencies can be a threat to bitcoin dominance?

No! I beg to disagreed into it. Because bitcoin nowadays will not be gone forever especially the price value of it is continue increasing by now and everyday the investors increasing too together with the user also.

[lanslans]

I think no, BTC will remain the benchmark all the coins even in a future.but prices will probably be in excess of BTC in the future. There's my opinion..

[Reallist]

Bitcoin is safe for the next 5 years at least as number 1. The real alternative mainstream currency race will be between litecoin and Gulden. This is where the action will be especially if your investing in Gulden for long term.

Gulden for Europe and Litecoin for China as it stands.

I don't include anon or assets in the mix.

[thejaytiesto]

I think that even if some altcoin will get bigger adoption than BTC in rl, BTC will still remain the main currency fot trading...

Bitcoin will remain the currency f the internet no matter what. The government may come up with their own centralized attempts to make a cryptocurrency mainstream while remaining in total control of it all, but the internet is the wild wild west and people don't like to be controlled, therefore bitcoin will remain the decentralized freedom gateway for life.

[UDC]

I think that even if some altcoin will get bigger adoption than BTC in rl, BTC will still remain the main currency fot trading...

Bitcoin will remain the currency f the internet no matter what. The government may come up with their own centralized attempts to make a cryptocurrency mainstream while remaining in total control of it all, but the internet is the wild wild west and people don't like to be controlled, therefore bitcoin will remain the decentralized freedom gateway for life.

yeah but most people also don't like to wait, incur excessive risk or extra work for the same result. There's still some constraints before it can branch out into mass adoption, which need to be addressed before main countries start rolling out their digital currency. Otherwise people will just go for the simplest/"safest"/known solution, since it'll operate (almost) exactly as fiat currencies do now electronically.
Also USD is the currency of the internet, followed by most other fiat currencies. Bitcoin exchange volume is still very low in comparison (although the current volume is already an achievement)

[ParmaBTC]

THE bitcoin is like gold in the times of the Middle Ages. Today you do not see more people shopping in gold but in FIAT currency. So we'll see in a few years the bitcoin will be held in a safe a altcoins will be used for shopping.
Which Altcoin? i don't know maybe the next one