Do you see alts have chances against Bitcoins?

[Stedsm]

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

[1715153580]

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[Hazir]

Hard to speculate about future. We all can see that bitcoin right now is not exactly the best payment option or a currency.
BTC is better suited to be an safe haven asset, capital investment and long term option for hoarders.
Bitcoin is not doomed yet (Japan adoption!), there is still time to fix scaling problem and reach total dominance over altcoins.
But if the scaling war will continue for extended period of time, it is possible that ETH, LTC or DASH will take over BTC dominance.

[jorneyflair]

Hard to speculate about future. We all can see that bitcoin right now is not exactly the best payment option or a currency.
BTC is better suited to be an safe haven asset, capital investment and long term option for hoarders.
Bitcoin is not doomed yet (Japan adoption!), there is still time to fix scaling problem and reach total dominance over altcoins.
But if the scaling war will continue for extended period of time, it is possible that ETH, LTC or DASH will take over BTC dominance.

Exactly, it is very hard to predict what is going to happen in next 10 year in the cryptocurrency world.
I think that LTC lately has grown up, showing it's potential thanks to the possible SegWit implementation.
But as can be observed, ETH has also a big chance to take a lot of the market ( and already has, after bitcoin ).
I also believe that Monero may have opportunity to build-up, thanks to the anonymousness of this altcoin.

After all, there is a possibility of totally new altcoin growing up, and taking big part of the market.
But all of that is just speculation about future, it is only my opinion.

[Yakamoto]

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

I'd say that you're going to be kind of hard-pressed to find any kind of altcoin that has a real fighting chance, but there are a few competitors that can have their own potential to take some of a market share from Bitcoin. For the most part, however, it is far more likely that you're never going to see an alt pass Bitcoin simply because of the services and communities built around Bitcoin. It's hard to break into a market like the one Bitcoin has secured for itself.

[amacar2]

I am not a fan of any alts but recently tried ETH to make few micro transactions of 1$ with just around 1cent worth ETH on fees. I find this really helpful and i think i will do same for other micro transactions in future.

However i don't think people will move form bitcoin to other alts completely due to this block size issues because price of all other alts are really volatile and many don't want to take risk of holding large amount of alts in their wallets.

[SONG GEET]

big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets.

No way to prove that big businesses are moving towards other alts these days but few alts have been good choice for many new projects to create their tokens and sell them with ICO. However many of this ICO are scams.

Alts are good if you like to make nice profit with day trading but bitcoin is still gold in crypto. 

[chaser15]

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

We can't really based that the current success of some altcoins today might have chances to go against bitcoin. My concern here is not the technical aspect of bitcoin but it's price. I doubt most of the traders cares for the slower confirmation times, maybe some but not much. That is fine to them as long as they are making money. And with bitcoin, the profit is really at high stake.

Im not seeing any altcoin today that cares for it's unique feature that bitcoin doesn't have. All of them just focus on it's price that's why I considered them altcoins as other money making scheme. With the trust that bitcoin established thrroughout the season, it will take time to get it down or maybe I will assume it's impossible to happen. Once bitcoin failed, people will now have no trust in using cryptocurrency.

[tiggytomb]

I think if an altcoin is going to rival bitcoin it will need to do something unique, have a specific purpose and not just be a copycat of bitcoin. 

ETH as an example is doing just that, I do think at some point we will see a newcomer that will outshine bitcoin but when is the question.

[bartolo]

The great advantage of bitcoin is being the first coin, it has opened its marked and made a room in it. It´s the coin that it´s being adopted and known by the people. Altcoins have to drive this road too, standing at the shadow of bitcoin. Some are doing well finding its own place like ripple or ethereum. I don´t think, today, an altcoin can replace bitcoin or take its place in the head of crypto but some coins can get a good place by its side.

[alyssa85]

If services like Bitpay start allowing alts, then Yes, I can see alts overtaking bitcoin. We've already started to see the major exchanges like coinbase and co start listing alts, it is only a matter of time till all the surrounding services allow alts as well, and then the market can decide.

[BitcoinPanther]

I believe every altcoins have their chances, it depends on how their core technical developers, market developers, main PR people and community to strengthen and spread information and adoption of the coin.  In fact there are several altcoin that is more advance than Bitcoin.  The only advantage  Bitcoin has is being the first mover.

[gentlemand]

If services like Bitpay start allowing alts, then Yes, I can see alts overtaking bitcoin. We've already started to see the major exchanges like coinbase and co start listing alts, it is only a matter of time till all the surrounding services allow alts as well, and then the market can decide.

Even when Bitcoin fees were palatable for everyday transactions, hardly anyone was doing them.

Bitpay themselves say that more and more transactions are B2B. I don't think that's mainly down to the fees squeezing out the little guy. It's overall a better fit for that purpose. In that scenario a $1 fee for something that's done and dusted within an hour is still a vast improvement over conventional banking.

If you've got a debit card then there's no point in paying in BTC unless you have a huge gain you want to splurge or you're simply doing it to support the concept.

It won't be business or merchant usage that causes Bitcoin to be eclipsed, if it ever is, it'll be the speculation that's been driving this thing since the early days.

And in the case of big business using alts, most of the time it'll be like ETH. If you look a little closer these alliances are lifting the code and making private versions. A nice endorsement but not much more.

[The Sceptical Chymist]

It's crazy to me that bitcoin has a huge first-mover advantage (and I hate using that term), but it totally does.  If you think about it, there's really no reason why anyone should use bitcoin over, say dogecoin, to buy something.  In fact, it would be to someone's advantage to do so, because doge has faster confirmation times and the fees are near zero.  But good luck trying to find any merchant that accepts doge or any other altcoin.  No one does.  And when people think of cryptocurrency at all, it's bitcoin that they think of.

So do alts have a chance?  Maybe.  They should be competitive, but as of right now they're not.

[BitcoinGirl.Club]

Altcoins have always had that chance to take on bitcoin but because of scamy developers and their shit coins they do not give investors the confidence to put their money into alt projects so not until they show some seriousness and commitmen...bitcoin will remain # 1

[FLoving]

AN year ago I was have the doubt for ethereum but after their tragedy now I do not think that it will come again with that fashion or any other coin will have the chance to stand against bitcoin to compete it or to take the place of it.

[avikz]

I am optimistic about alts even before this situation arise. Not just companies, I have seen many people have now started investing in promising altcoins which has comparative lower fees as of now. That is the reason why new currencies like Byteball or zcash has risen up quickly.

Bitcoin will be replaced by any altcoin one day. Probably after 2023 when the mining will be finished. A new coin will have to take its place otherwise what will happen to the mining equipment people have bought. They will have to make a good use of it. So they will start mining altcoins and market dynamics will change automatically.

[gentlemand]

Bitcoin will be replaced by any altcoin one day. Probably after 2023 when the mining will be finished. A new coin will have to take its place otherwise what will happen to the mining equipment people have bought. They will have to make a good use of it. So they will start mining altcoins and market dynamics will change automatically.

Your reading needs brushing up. Mining continues until 2140. The machines that mine Bitcoin are solely able to mine that one algorithm. Not a single one of the big alts can be mined with them.

[Iranus]

Alts aren't against Bitcoin, they're developments on Bitcoin (except for copycats).

Most businesses which accept altcoins are accepting both Bitcoin and altcoin payments.  Bitcoin should be viewed as a pioneering currency, which doesn't necessarily make it the best in existence.  However, Bitcoin's long-term purpose will be very different to its current purpose.

Even with scaling solutions Bitcoin will never be as convenient as newly developed and regularly forked / less immutable alts can be.  For that reason, Bitcoin will be seen more as a "master currency" while others are traded with Bitcoin and savings are held in Bitcoin.

[gentlemand]

Even with scaling solutions Bitcoin will never be as convenient as newly developed and regularly forked / less immutable alts can be.  

Easily forked and non immutable takes away the entire point of crypto. You may as well stick to your credit card. Far more stable, far more acceptance and zero possibility of the entire thing disappearing in a puff of failed forkage. There is no potential upside.

There's definitely something to be said for systems that are more nimble than BTC. If they completely abandon the core principles, and many already have, they're useless.
 

[PeRo]

Bitcoin will always be the top cryptocurrency, alternatives are just copies of it or scamcoins. No altcoin will ever get past Bitcoin, even if it has some problems right now, but the problems will be fixed soon enough. No large company that accepts Bitcoin will ever accept some altcoin.