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Author Topic: could bitcoin be replaced by another crypto currency?  (Read 11669 times)
warr1979
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February 16, 2018, 04:51:27 PM
 #641

i do this question because i´ve read in this website issues with bitcoin, slow mining process, high fees, etc. and i´ve read too good reviews of some altcoins, ethereum (smart contracts), ripple (for transfers between banks), dash and nem. these altcoins called 2.0. could bitcoin become just in future virtual gold reserved to companies and rich people?

I think that the only cryptocurrency that can overtake bitcoin now is ethereum because of how it is being couned as the smart cryptocurrency. Some users are being called to check this out over bitcoin of how you can program it to invest itself over and over again. As such I still think that only ethereum right now has the abiltiy and the following to overtake bitcoin when it comes to price value
Every cryptocurrency has a chance to defeat Bitcoin and takes first place in the market. Etherium, Ripple, Digibyte, I believe in these coins can replace Bitcoin. These digital coin has given me a high profit than Bitcoin. They are cheaper than Bitcoin, that's why we easily to buy and invest. We have to know that Bitcoin won't be the best forever.
Ethereum: I will choose the technology behind this coin, at least, smart contract will be very important in the future, it like an upgrade version from blockchain 1.0 of Bitcoin.
Ripple and Digibyte: Both coins can provide a fast service for transfer money with cheapest fees, but not like Dogecoin and Digibyte, Ripple proves it like a centralized system because it doesn't need to have miner Smiley -> Dogecoin or Digibyte can be better for using, but the Ripple technology is better than the technology of Dogecoin (blockchain 1.0 - old) and Digibyte.
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February 18, 2018, 09:24:23 AM
 #642

i do this question because i´ve read in this website issues with bitcoin, slow mining process, high fees, etc. and i´ve read too good reviews of some altcoins, ethereum (smart contracts), ripple (for transfers between banks), dash and nem. these altcoins called 2.0. could bitcoin become just in future virtual gold reserved to companies and rich people?

It would be possible at any aspect but for now it's only a bluff or a hoax , cause as you can see now bitcoin is expanding and becoming larger and larger by the suddenly increase of bitcoin last year many people notice it and it become popular. So as the ethereum and the ripple , but still depend so for me it can't , bitcoin cannot be replaced by another crypto or coins , he's still the king though.

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February 18, 2018, 09:49:49 AM
 #643

Probably Bitcoin will be replaced in the future. However, because it has become a great herald for the virtual currency system, it is difficult to replace it soon enough. Besides, it almost dominates the currency market so changing it takes a long process. However I still expect a revolution to change it though knowing it will make the market confused.

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February 24, 2018, 11:59:39 PM
 #644

Probably Bitcoin will be replaced in the future. However, because it has become a great herald for the virtual currency system, it is difficult to replace it soon enough. Besides, it almost dominates the currency market so changing it takes a long process. However I still expect a revolution to change it though knowing it will make the market confused.

Well, I don't think bitcoin will replace by other crypto. As we all know bitcoin is the dominant crypto currency which almost all altcoins rely on its value. Though, there are times bitcoin will down but after a couple of days or even weeks it will recover. Soon, in the future those who hold their shares of bitcoin for a long time definitely can have a good amount of profit.


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February 25, 2018, 06:50:04 PM
 #645

I too problematic to think it but in the end, I am an optimist on bitcoin, and I think bitcoin will not be replaced with another crypto because the Bitcoin is a crypto still number one or the original coin. All altcoin will not be able to replace the bitcoin because the people have more confidence and trust in bitcoin rather than altcoin and don’t have the strength or ability to exhaust the bitcoin. As time goes by several coins will attempt to overtake the position of bitcoin, and there’s nothing we can do about it just stick on the bitcoin.
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February 26, 2018, 06:24:10 AM
 #646

i guess not bitcoin its not replaceable by any other cryto currency bitcoin is strong cryptocurrency

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February 26, 2018, 06:29:38 AM
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I think thats what will exactly happen in the future. You see what happen with btc when the people from bitcoincash "attacked" the bitcoin blockchain with micro transaction. The whole network was totally overloaded. It was very slow and the fees where really high. So if you want to use a cryptocurrency as a daily payment, you need a technically much better coin then bitcoin, who can handle more then 4000 transaction in 10 minutes, and where the fees has to be less.

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February 26, 2018, 10:23:44 PM
 #648

Probably Bitcoin will be replaced in the future. However, because it has become a great herald for the virtual currency system, it is difficult to replace it soon enough. Besides, it almost dominates the currency market so changing it takes a long process. However I still expect a revolution to change it though knowing it will make the market confused.

Well, I don't think bitcoin will replace by other crypto. As we all know bitcoin is the dominant crypto currency which almost all altcoins rely on its value. Though, there are times bitcoin will down but after a couple of days or even weeks it will recover. Soon, in the future those who hold their shares of bitcoin for a long time definitely can have a good amount of profit.
Look at the current price of Bitcoin and the highest price of Bitcoin in 2013, you do not understand the value and the reason to make the Bitcoin price decrease or increase. You just think it is simply down for correction and will up again, this is the reason made a lot of newbie lost money in this market. Let's to check both chart price as I said, you will understand.
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February 26, 2018, 11:25:57 PM
 #649

It is possible. But as of today, bitcoin still on top. People observed how successful bitcoin is. So some of them are creating and trying to make another crypto better than bitcoin. As I can see it, is it a good thing? I think yes, if someday another crypto will appear and better than bitcoin I guess that is the start of competition between cryptocurrencies. Or maybe I just over think.  Wink
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February 26, 2018, 11:30:41 PM
 #650

i do this question because i´ve read in this website issues with bitcoin, slow mining process, high fees, etc. and i´ve read too good reviews of some altcoins, ethereum (smart contracts), ripple (for transfers between banks), dash and nem. these altcoins called 2.0. could bitcoin become just in future virtual gold reserved to companies and rich people?
It is always possible to have another cryptocurrency to replace bitcoin. I don't think bitcoin would reign forever that's why you should start investing on other cryptocurrrency today so that if ever bitcoin has been replaced, you have your own back up investment. We all know how hard it is for bitcoin to loose its reputation but it's all part of the game, it will be replaced no matter what happens.

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scorilo
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February 26, 2018, 11:37:58 PM
 #651

I don't think btc can be replaced at this time but who knows what the future would hold for us. Btc is a well known coin so atm it is the best decision for new people.
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February 27, 2018, 01:56:48 AM
 #652

At first I thought it was impossible for Bitcoin to be replaced since it is the first cryptocurrency, but you are right, some altcoins may have better features than Bitcoin and people may prefer them instead.

Here's an analogy, lets imagine all cryptocurrencies are like mobile phones. Bitcoin is Nokia, and started the mobile phone trend. And soon after everyone started using Nokia. But brands like Blackberry, Samsung and Apple soon created their own phones, and Apple made a major breakthrough with a touchscreen function, where everyone gradually switched to that after a while, and now Nokia is outdated.

Bitcoin has our trust now, but other cryptocurrencies might overtake BTC in the future. Smiley

I agree with this statement and love the mobile phone analogy. Personally, I think of the cryptocurrency market like the fiat currency market. While dollar and euro are the "big player" and have their dominating advantages, we need other currencies such as the JPY and CNY to compete with the big players so investors could have more options and keep the market operating under healthy competition. Let's hope the upcoming altcoins are like Apple in its good old days and actually possess more competitive features.
Pumapipa
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February 27, 2018, 05:11:37 AM
 #653

A big possibility of course. Considering the speed of technology. Miners are continuing to emerge and as well as developments for tokens continue to flourish, making tokens compatible and adaptable to the growing needs of users. There will always be users preferring the feature of other token as compared to bitcoin. Say for example eth, users prefer using wth because of what they call smart contracts mashing transactions easier with less hassle.
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February 27, 2018, 07:44:13 AM
 #654

It is not possible for any crypto currency to replace BTC as this coin already proved its value and approved by many countries as legal currency. People have more faith on BTC rather then any altcoin and no altcoin showing its strength to beat this coin in near future. No one can predict the future.
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February 27, 2018, 08:02:26 AM
 #655

Bitcoin is going to be replaced with an alternative cryptocurrency sooner or later. Because bitcoin is still not enough good (network size, transaction speed, transaction fees etc) for use. It was just a trial end its time will end. There are already very good alternatives to bitcoin classical blockchain.

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torch2121
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February 27, 2018, 09:39:45 AM
 #656

I believe Bitcoin could not be replace by any cryptocurrency. As far as I know Bitcoin is the first cryptocurrency and started it all. Competition in cyrptocurrency is high but I think Bitcoin is tough to beat.

Lupus Solitarius
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February 28, 2018, 03:38:56 PM
 #657

Who know? Twenty years ago Altavista was the biggest search engine, yahoo was just a directory and google didn't exist.
Then, the situation evolved, and now Altavista is just a piece of history.
Today bitcoin is the star, but... tomorrow?

usam_coiner
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February 28, 2018, 03:54:36 PM
 #658

Who know? Twenty years ago Altavista was the biggest search engine, yahoo was just a directory and google didn't exist.
Then, the situation evolved, and now Altavista is just a piece of history.
Today bitcoin is the star, but... tomorrow?
that were search engines mate bitcoin is the only currency which is giving people a lot since it has started and people will never get bored of it so there is no chance that any other currency will replace bitcoin because people meant to earn money and no other coin has so much popularity or will gain that level of popularity which will beat bitcoin,
KeithHopkin
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March 05, 2018, 08:27:23 PM
 #659

Indeed there are a lot of crypto that has a lot of advantage than bitcoin. No crypto is perfect, we know that already. But bitcoin already have a lot in hand. Most shop that are crypto-accepting have already invested on bitcoin nd would be long to take another risk on another alternative coin. Most people don't have an idea on alternative coin and more comfortable in using bitcoin.
wareen
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March 09, 2018, 03:44:20 PM
 #660

Indeed there are a lot of crypto that has a lot of advantage than bitcoin. No crypto is perfect, we know that already. But bitcoin already have a lot in hand. Most shop that are crypto-accepting have already invested on bitcoin nd would be long to take another risk on another alternative coin. Most people don't have an idea on alternative coin and more comfortable in using bitcoin.
Only the speculator and noob trader do not care the growth and the ability of altcoin (other cryptocurrency different Bitcoin). Bitcoin system is not perfect. Although in the past, it was used so good, but today, it needs to improve more before comeback to the cryptocurrency world.

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