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sanjeevtalks (OP)
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August 29, 2017, 10:34:57 AM
Last edit: August 29, 2017, 12:25:38 PM by sanjeevtalks |
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Hey everybody. I see that this forum has a lot of people talking about the strengths about bitcoin. For eg there are posts which say value of 1BTC to reach $500K or 1BTC = Lamborghini and even one which debated whether one can forego their jobs over Bitcoin.
It makes me wonder whether there are any cryptocurrencies which will overtake bitcoin in the near future. I mean BTC got to where it is because it was first in the market. But now with increasing awareness there's equal oppportunity for other such currencies to make it as big.
My question to you all which will later be converted into a poll:
Is there any cryptocurrency which can beat Bitcoin in sheer value (in $)?
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dali_masmoudi
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August 29, 2017, 10:41:07 AM |
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Yes why not ! When you see the Bitcoin and its great evolution during these two years. You will realise that everything is possible nowadays.
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Vishnu.Reang
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August 29, 2017, 10:48:46 AM |
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There is only a small chance of any altcoin overtaking Bitcoin in terms of user acceptance and market capitalization. And if that happens sometime in the future, then the chances are highest for Bitcoin Cash. My second preference would be Litecoin. The other alts have zero chance of overtaking BTC.
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aleksej996
Sr. Member
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Activity: 490
Merit: 389
Do not trust the government
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August 29, 2017, 10:50:17 AM |
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I wouldn't say other cryptos have an equal opportunity. Bitcoin is the first, the most accepted, most popular, most secure, most computationally and financially invested, most recognized blockchain. There is not that much space for the second. The idea of currency is that it is accepted by as many people possible and Bitcoin is it right now. It is very hard to take that and there is no real reason for people to switch. It is a simple and secure application, reviewed many times. And there are crytpos that are there from 2013 and still quite popular, but they are not even close to Bitcoin. Bitcoin was not surpassed in more then 8 years. So in near future, I really really doubt it. In long term, maybe, but I wouldn't bet on it. Bitcoin is simply good enough and it would be a huge cost for people to change it.
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ImHash
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August 29, 2017, 10:53:58 AM |
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They're boosting bitcoin unlike when people think that they are rivals of bitcoin, if altcoins never existed bitcoin couldn't be here today as it is now. imagine this, if you mine altcoins and there is no bitcoin to sell them to what happens?  |
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sanjeevtalks (OP)
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August 29, 2017, 11:08:55 AM |
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I wouldn't say other cryptos have an equal opportunity. Bitcoin is the first, the most accepted, most popular, most secure, most computationally and financially invested, most recognized blockchain. There is not that much space for the second. The idea of currency is that it is accepted by as many people possible and Bitcoin is it right now. It is very hard to take that and there is no real reason for people to switch. It is a simple and secure application, reviewed many times. And there are crytpos that are there from 2013 and still quite popular, but they are not even close to Bitcoin. Bitcoin was not surpassed in more then 8 years. So in near future, I really really doubt it. In long term, maybe, but I wouldn't bet on it. Bitcoin is simply good enough and it would be a huge cost for people to change it.
I agree with your points. What I understand from your thoughts are that they are practically monopolizing the industry right now. The thing is that it is technology at the end of the day and can be replicated in terms of availability, security etc. Classic case being Iphone. Now Nokia was well established as the leader till Iphone came alive in 2007. It helped that it came from a successful family and the quality ofcourse. So maybe it may take someone from a different field which has good background to get into cryptocurrencies and grab that share currently enjoyed by Bitcoin. |
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Ghani
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August 29, 2017, 11:16:25 AM |
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You can see https://coinmarketcap.com/assets/primalbase/ primalbase or often called PBT, this is a coin that as far as I know the price exceeds the bitcoin price for now Although I know PBT is created with ICO results where prices can be pegged by the developers themselves But for some reason bitcoin for me is number 1 and always leading edge |
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aleksej996
Sr. Member
Offline
Activity: 490
Merit: 389
Do not trust the government
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August 29, 2017, 11:25:55 AM |
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I wouldn't say other cryptos have an equal opportunity. Bitcoin is the first, the most accepted, most popular, most secure, most computationally and financially invested, most recognized blockchain. There is not that much space for the second. The idea of currency is that it is accepted by as many people possible and Bitcoin is it right now. It is very hard to take that and there is no real reason for people to switch. It is a simple and secure application, reviewed many times. And there are crytpos that are there from 2013 and still quite popular, but they are not even close to Bitcoin. Bitcoin was not surpassed in more then 8 years. So in near future, I really really doubt it. In long term, maybe, but I wouldn't bet on it. Bitcoin is simply good enough and it would be a huge cost for people to change it.
I agree with your points. What I understand from your thoughts are that they are practically monopolizing the industry right now. The thing is that it is technology at the end of the day and can be replicated in terms of availability, security etc. Classic case being Iphone. Now Nokia was well established as the leader till Iphone came alive in 2007. It helped that it came from a successful family and the quality ofcourse. So maybe it may take someone from a different field which has good background to get into cryptocurrencies and grab that share currently enjoyed by Bitcoin. It is more then that. Bitcoin isn't just like a new smartphone. Bitcoin is a network. If you buy a new Iphone, you can still communicate with people that have an old Nokia and they can with you. That is because the protocol used to make calls and SMS are very old and still used today. There are better protocols, but it would make new people disconnected from the old. Same is with Bitcoin, it is a protocol, not a shiny new device. People accept Bitcoin as a payment and not other coins. If you start accepting other coins, then you will have trouble using them, since others don't accept them. On top of that, Bitcoin has it's blockchain. That blockchain was hard to make. A lot of electricity was spent on it over the years, more then any other coin. This is what makes it most secure. This and the fact that it has been reviewed many times. |
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sanjeevtalks (OP)
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August 29, 2017, 11:56:04 AM |
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I wouldn't say other cryptos have an equal opportunity. Bitcoin is the first, the most accepted, most popular, most secure, most computationally and financially invested, most recognized blockchain. There is not that much space for the second. The idea of currency is that it is accepted by as many people possible and Bitcoin is it right now. It is very hard to take that and there is no real reason for people to switch. It is a simple and secure application, reviewed many times. And there are crytpos that are there from 2013 and still quite popular, but they are not even close to Bitcoin. Bitcoin was not surpassed in more then 8 years. So in near future, I really really doubt it. In long term, maybe, but I wouldn't bet on it. Bitcoin is simply good enough and it would be a huge cost for people to change it.
I agree with your points. What I understand from your thoughts are that they are practically monopolizing the industry right now. The thing is that it is technology at the end of the day and can be replicated in terms of availability, security etc. Classic case being Iphone. Now Nokia was well established as the leader till Iphone came alive in 2007. It helped that it came from a successful family and the quality ofcourse. So maybe it may take someone from a different field which has good background to get into cryptocurrencies and grab that share currently enjoyed by Bitcoin. It is more then that. Bitcoin isn't just like a new smartphone. Bitcoin is a network. If you buy a new Iphone, you can still communicate with people that have an old Nokia and they can with you. That is because the protocol used to make calls and SMS are very old and still used today. There are better protocols, but it would make new people disconnected from the old. Same is with Bitcoin, it is a protocol, not a shiny new device. People accept Bitcoin as a payment and not other coins. If you start accepting other coins, then you will have trouble using them, since others don't accept them. On top of that, Bitcoin has it's blockchain. That blockchain was hard to make. A lot of electricity was spent on it over the years, more then any other coin. This is what makes it most secure. This and the fact that it has been reviewed many times. I think you misunderstood what I meant with the Iphone/Nokia analogy. What I meant was that someone came along and was able to replicate/better an existing concept. So in theory it is possible but difficult to crack at present with Bitcoin. Coming to blockchain, yes one the resources used is electricity but then again you have a perfectly usable natural resource to use to get the work done. You could even call it a Green coin and I am sure there'll be takers for it. |
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sanjeevtalks (OP)
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August 29, 2017, 12:06:52 PM |
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You can see https://coinmarketcap.com/assets/primalbase/ primalbase or often called PBT, this is a coin that as far as I know the price exceeds the bitcoin price for now Although I know PBT is created with ICO results where prices can be pegged by the developers themselves But for some reason bitcoin for me is number 1 and always leading edge That's interesting. Another Bitcoin killer in the making?  |
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greyworld
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August 29, 2017, 12:19:22 PM |
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Hey everybody. I see that this forum has a lot of people talking about the strengths about bitcoin. For eg there are posts which say value of 1BTC to reach $500K or 1BTC = Lamborghini and even one which debated whether one can forego their jobs over Bitcoin.
It makes me wonder whether there are any cryptocurrencies which will overtake bitcoin in the near future. I mean BTC got to where it is because it was first in the market. But now with increasing awareness there's equal oppportunity for other such currencies to make it as big.
My question to you all which will later be converted into a poll:
Is there any cryptocurrency which can beat Bitcoin in sheer value?
Value is a tricky thing to gauge. Do you mean the value of one (non-BTC coin)? Byteball ([GBYTE]) has come surprisingly close, peaking at nearly 40% of 1 BTC, currently around 9.5% - however, there are only 1 million byteballs in existence, so the actual market cap of GBYTE is far lower than BTCs. Supply * cost for one coin is probably a more accurate way to describe value than just 'how much does one of these go for'. If by value, you mean 'better functionality they bring to the table', then I'd say Syscoin deserves a look. It's really nice, very fast, has a market place, (much) faster transactions, encrypted messaging, even an escrow service. However it currently trades for about $0.16 - sometimes the world is not fair. |
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2Pac
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August 29, 2017, 12:20:26 PM |
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No, it's not possible. Bitcoin is #1 and always will be #1.
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sanjeevtalks (OP)
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August 29, 2017, 12:38:53 PM |
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Hey everybody. I see that this forum has a lot of people talking about the strengths about bitcoin. For eg there are posts which say value of 1BTC to reach $500K or 1BTC = Lamborghini and even one which debated whether one can forego their jobs over Bitcoin.
It makes me wonder whether there are any cryptocurrencies which will overtake bitcoin in the near future. I mean BTC got to where it is because it was first in the market. But now with increasing awareness there's equal oppportunity for other such currencies to make it as big.
My question to you all which will later be converted into a poll:
Is there any cryptocurrency which can beat Bitcoin in sheer value?
Value is a tricky thing to gauge. Do you mean the value of one (non-BTC coin)? Byteball ([GBYTE]) has come surprisingly close, peaking at nearly 40% of 1 BTC, currently around 9.5% - however, there are only 1 million byteballs in existence, so the actual market cap of GBYTE is far lower than BTCs. Supply * cost for one coin is probably a more accurate way to describe value than just 'how much does one of these go for'. If by value, you mean 'better functionality they bring to the table', then I'd say Syscoin deserves a look. It's really nice, very fast, has a market place, (much) faster transactions, encrypted messaging, even an escrow service. However it currently trades for about $0.16 - sometimes the world is not fair. I meant cost for one coin ($), have edited that in my first post now. You have some very interesting points and Syscoin does seem like a good thought. Maybe it will pick up someday. Hopefully sooner than later. |
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sanjeevtalks (OP)
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August 29, 2017, 12:45:42 PM |
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No, it's not possible. Bitcoin is #1 and always will be #1.
Always? I doubt it. Nothing lasts forever. |
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renes
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August 29, 2017, 12:48:09 PM |
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It is possible and I think that will happen but this is not a car race, even if a coin overhaul bitcoin, that doesn't mean it will be the new bitcoin.
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Cheburekus
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August 29, 2017, 03:32:28 PM |
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Most people who are enthusiastic about cryptocurrency appear to agree that Bitcoin and its newer rival Ethereum have staying power, though they may be more bullish on one versus the other. On one conference this summer Balaji Srinivasan, CEO of 21, said:“In terms of 5 to 10 years, Bitcoin and Ether will be around I bet”. So it may be Ethereum
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Orias67
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August 29, 2017, 03:42:03 PM |
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You can see https://coinmarketcap.com/assets/primalbase/ primalbase or often called PBT, this is a coin that as far as I know the price exceeds the bitcoin price for now Although I know PBT is created with ICO results where prices can be pegged by the developers themselves But for some reason bitcoin for me is number 1 and always leading edge That's interesting. Another Bitcoin killer in the making? This price for PBT is that huge because price of 1 PBT in ICO was 3 BTC. I don't think that we can take this token has an example then (but I don't say that PBT is a bad token). |
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alyssa85
Legendary
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CryptoTalk.Org - Get Paid for every Post!
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August 29, 2017, 03:51:23 PM |
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Well currently, the market cap of Ethereum is half that of Bitcoin: https://coinmarketcap.com/It just needs bitcoin's price to drop back to say $3000 and Ether's price to move to $500 for the "flippening" to happen. |
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DigitalLemming
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August 29, 2017, 03:55:10 PM |
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Certainly. I think Eth got as close as 1 billion away from overtaking Bitcoins market cap. I think it is a question of when!
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Quidat
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August 29, 2017, 03:58:20 PM |
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Hey everybody. I see that this forum has a lot of people talking about the strengths about bitcoin. For eg there are posts which say value of 1BTC to reach $500K or 1BTC = Lamborghini and even one which debated whether one can forego their jobs over Bitcoin.
It makes me wonder whether there are any cryptocurrencies which will overtake bitcoin in the near future. I mean BTC got to where it is because it was first in the market. But now with increasing awareness there's equal oppportunity for other such currencies to make it as big.
My question to you all which will later be converted into a poll:
Is there any cryptocurrency which can beat Bitcoin in sheer value (in $)?
Possibilities of being replaced is always there.If you do see the altcoin market there are lots of coins which do have really the potential to overtake bitcoin just like ETH, its smart contracts can really possibly attract more companies or investors which it can really be applied on real world use. I'm not saying that this coin would really replace bitcoin but this is one of the candidates for sure. |
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