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just_Alice
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August 02, 2017, 11:42:22 AM |
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I think that bitcoin can be replaced by another crypto currency. Someone can develop a better currency and it will gain more momentum than bitcoin. I do not see any decent options yet.
Yes, in theory this is possible. Why not? But in practice there were many claims from the devs of different cryptos that they are better than bitcoin. Time passed and there's still no other currency which can replace BTC, although right now many believe it could be Bitcoin Cash. I'm not from them, I stick with bitcoin. |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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e-coinomist
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Money often costs too much.
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August 03, 2017, 08:31:50 AM |
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I don't see that imminent but yes, that could be possible in future times. As of now I don't see any competitor of bitcoin in any way but in future times, when bitcoin will not be mined, that is very much possible.
ETH is the closest competitor to bitcoin as per the market cap but not as per the price. However, I won't be surprised if ETH takes over bitcoin in long run. Bitcoin is minable till 2023. After that, ETH or any other coin with cutting-edge technology can take over bitcoin. It is not impossible.
Doubt my patience could last till 2023, that's six years into the future counting moar like dog years. A small uncertainity remains, since mining didn't done us well around August 1st ... as can be seen. Maybe another distribution approach pops up that washes away all former approaches? There's the lever that competition should get hands on. |
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Rufsilf
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August 03, 2017, 08:43:30 AM |
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There is a chance if the cryptocurrency is good like bitcoin or even better than bitcoin like for now, there is a threat which is the bitcoin cash and it is now taking all the people's attention and its price is slowly moving up and that is a threat for bitcoin because the demand might diverse and it will go into bitcoin cash instead of bitcoin and that can replace bitcoin anytime.
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Marma Kalari
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August 03, 2017, 01:29:43 PM |
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Yes, in theory this is possible. Why not? But in practice there were many claims from the devs of different cryptos that they are better than bitcoin. Time passed and there's still no other currency which can replace BTC, although right now many believe it could be Bitcoin Cash. I'm not from them, I stick with bitcoin.
This is the perfect time to answer this question,we are expecting another fork this year by November and we might be having three split coins ,now we have bitcoin cash and bitcoin segwit and the third one will be SegWit2x ,that is what i am expecting ,so i am not sure these things will hurt bitcoin in the long or short term but that is the direction in which we are going right now. |
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Paid Piper
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August 03, 2017, 04:31:29 PM |
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There is a chance if the cryptocurrency is good like bitcoin or even better than bitcoin like for now, there is a threat which is the bitcoin cash and it is now taking all the people's attention and its price is slowly moving up and that is a threat for bitcoin because the demand might diverse and it will go into bitcoin cash instead of bitcoin and that can replace bitcoin anytime.
yes no doubt that chance is always there but i think if we study and analysis bitcoin with other altcoin, then we can come to the conclusion that it is not so easy for any altcoin to overcome bitcoin, because bitcoin is becoming more and more stronger from time to time. |
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Bondho Kompeni
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August 03, 2017, 06:28:42 PM |
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Though difficult but I'm sure there will be coins that can replace bitcoin, I'm sure that someday there will be a country that will make coins and legalized so that it can be used en masse country and it is likely to beat bitcoin.
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BUK2016
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August 03, 2017, 06:51:53 PM |
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Well for now I can't really accept with some other people who believe bitcoin will be replaced or other coin will be value more than bitcoin. The splits just happen and we can see that the effects of Bitcoin cash on Bitcoin is insignificant at the moment, though time shall tell.
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sindikat
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August 03, 2017, 07:01:38 PM |
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Bitcoin occupies the top position in the world of crypto currency and no one will ever be able to replace. He will always be №1 currency. If you ever crypto currency will be legalized the first thing will be to legalize bitcoin.
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TheFriends
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August 03, 2017, 07:06:54 PM |
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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 may happen, but usually the altcoins that mentions you have concrete segments, while the bitcoin is just like money. Ethereum and IOTA may be replacing the Bitcoin one day, who knows. |
If interested in high quality translations English-Portuguese please contact me via privat message or send an email to thefriendspt@gmail.comTelegram: @thefriendspt |
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shield132
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August 03, 2017, 07:34:10 PM |
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It's really good question to discuss. We all know that many people prefers bitcoin because it is old, known and trusted. But there are something which people don't like as time goes, for example high transaction fees and low block size. But people trust to bitcoin so much, it's currently hard to beat btc. Maybe in future there will be 1 good altcoin, better than bitcoin which will gain more trust and popularity, really hard to discuss but I am optimist on bitcoin and I think it will be always as first in cryptocurrencies as google is first in search engines.
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Hazir
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August 03, 2017, 07:58:48 PM |
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Until today I always thought that Bitcoin's position as the top cryptocurrency will be unthreatened forever.
But forever is a strong word, Chinese miners decided that they want to grab even more money and forked bitcoin,
effectively creating altcoin from 'nothing' and now this coin is threatening to unbalance the whole bitcoin ecosystem.
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Joshapat
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August 04, 2017, 03:04:00 AM |
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Of course maybe, there are currently more than 1000 coins and I'm sure there will be coins that can replace bitcoin, NXT, Byteball or Waves are coins that have the opportunity to replace bitcoin.
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Supreemo
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August 04, 2017, 03:57:56 AM |
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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.  ,i like the example....well we all know that as time passes by people keep on finding ways to improve certain things or to improve daily living, and if it is possible they wanted to make short cuts.. this could also be applied in bitcoin, maybe someday another cryptocurrency will outplayed the role of bitcoin, who knows. |
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Caloocan_Pride
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August 04, 2017, 04:02:56 AM |
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i think there is a possibility in the future because in line with technological advancement early stages (bitcoins technology) will become part of the latest technology (other cryptocurrency).
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Casdinyard
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August 04, 2017, 04:04:59 AM |
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Yes time can only tell this. But for now bitcoin is so strong that nothing can defeat it in all aspects. Yeah there are some issues that needed to be resolve but altcoins have also some issues. Therefore, there is no perfect coin in this world so stop comparing each other. As time passes by many will try to take over the place of bitcoin and there'a nothing we can do about it but to just wait and watch if this coin will survive or die slowly.
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traderethereum
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August 04, 2017, 11:25:05 AM |
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Of course maybe, there are currently more than 1000 coins and I'm sure there will be coins that can replace bitcoin, NXT, Byteball or Waves are coins that have the opportunity to replace bitcoin.
the chance to be replace by another crypto currency is always wide open but no one will know which coins and when the time is come. but for now and for a long time, if bitcoin is still a leader in crypto currency, then the other coins don't have any chance to replace bitcoin. especially if bitcoin is too strong than altcoin, bitcoin will always be a king. |
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Michhotdog
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August 04, 2017, 11:34:28 AM |
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Of course maybe, there are currently more than 1000 coins and I'm sure there will be coins that can replace bitcoin, NXT, Byteball or Waves are coins that have the opportunity to replace bitcoin.
the chance to be replace by another crypto currency is always wide open but no one will know which coins and when the time is come. but for now and for a long time, if bitcoin is still a leader in crypto currency, then the other coins don't have any chance to replace bitcoin. especially if bitcoin is too strong than altcoin, bitcoin will always be a king. I agree with your opinion. Bitcoin is now even stronger. And so everyone was convinced that its price will remain the same high even if there is a part of the miners will go to another network. At the moment, bitcoin has no competitors |
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olushakes
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August 04, 2017, 11:37:34 AM |
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Others might see BCC as a competitor but at at today. I have not seen other coin coming to take over from bitcoin because Bitcoin in my opinion has grown beyond the issue of just been a coin as the adoption has grown so large even outside the crypto world to the secular world which has commanded discussions in places of authority this is something I don't see other coin achieving not to talk of surpassing bitcoin.
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@prashant
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August 04, 2017, 11:40:26 AM |
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Of course maybe, there are currently more than 1000 coins and I'm sure there will be coins that can replace bitcoin, NXT, Byteball or Waves are coins that have the opportunity to replace bitcoin.
the chance to be replace by another crypto currency is always wide open but no one will know which coins and when the time is come. but for now and for a long time, if bitcoin is still a leader in crypto currency, then the other coins don't have any chance to replace bitcoin. especially if bitcoin is too strong than altcoin, bitcoin will always be a king. I agree with your opinion. Bitcoin is now even stronger. And so everyone was convinced that its price will remain the same high even if there is a part of the miners will go to another network. At the moment, bitcoin has no competitors In the future also,bitcoin can not be replaced by any other currency,though some currency/token might be more than bitcoin value but bitcoin popularity is widest and still growing. ethereum can show some competition as its application is growing as well and many big mnc companies are using its blockchain technology ideas.but still bitcoin will remain unbeatable. |
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hajimasan
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August 04, 2017, 11:51:44 AM |
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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 yes but in reality that coin which have the potential to replace the bitcoin will be made by the team.of the blockchain of bitcoin only because it is not simple thing for anyone , because traffic of the people to use such coins are a big factor and that type of technology to handle bitcoin place can be done by the bitcoin . And also here to overcome the problem of speed of confirmation the team of the bitcoin made the new coin BCC coin ( bitcoin cash) . So here forget everything and just wait until the BCC coin perfectly get develop and than we can use it in perfect way to use the money in the internet with beyter speed and very low fee ( which is the target for this new coin ) . |
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