Bitcoin phased out

[glowing10]

Its difficult to say that bitcoin can phased out unless whole world decide to ban the bitcoin or cypto currencies which is unlikely to happen. Yes you can say that demand may go down if few countries ban it or restrict th trade or it becomes too expensive so altcoins would be used more than bitcoin.

[Soranith]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

Quite possible but will take time for that to happen and it will only replace bitcoin if its 100% better than bitcoin and if people think that bitcoin is not doing its purpose anymore.

[Red-Apple]

what is with people these days who ask this question? i mean what is your goal? are you trying to "invest" in that. if so i assure you that you won't find it currently invented yet

obviously someday there will be something better than bitcoin and bitcoin will be obsolete. it is how the world has always worked. for example the first cell phone that came out was HUGE you needed 2 hands to hold it and it had a gigantic antenna! now a cell phone is as small as the palm of your hand and as thin as a paper.

[slowlii]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

They created much better coins than bitcoin but none of them could survive in this community. The feature is not everything for a coin. The way its community behave is more important.

[ropyu1978]

you can see so many new ico emerging, that's a new coin created by some developers. you can see the results are always the same. bitcoin is always at the forefront, no one can beat it all the time.
no possibility will be destroyed and will disappear. because crypto has its own way.

[arpon11]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

Bitcoin is currently serving as a gold standard to others cryptocurrency and as a matter of fact it might not be replaced by any other coin as nor of them can have a good business structure that bitcoin has established so far. However others coins should not look at bitcoin as a competitor but as a mentor.

[pginvest]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

Never say never, after all there are nearly 1000 other currencies on coin market cap, all hoping to climb the charts. There are likely to be different currencies and different blockchains for different purposes, but BTC has a commanding lead at least for now. There are many other promising alt coins out there.

[Lancusters]

To kill bitcoin too little to create a new currency. Even if it is better than bitcoin it will not have such prevalence. It's like a dollar. Everyone understands that it is the papers which do not cost anything but they're so common in the world that no one wants to fight with the dollar because everyone will lose their money.

[Ariess]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

bitcoin will not be deleted by anyone. because bitcoins are not owned by any systems and developers. there is always a new coin that appears, look at the market, it is very clear there is always a new born.
but will not be able to beat bitcoin with a short time.

[Immakillya]

There is a possibility because bigger players of bitcoin like to fork bitcoin again. The fork may happen next month https://news.bitcoin.com/another-bitcoin-fork-bitcoin-gold-project-plans-to-fork-bitcoin-next-month/
 So bitcoin may be split again. If the split coin surpassed bitcoin. I think Bitcoin is done. The new born split coin will take the place of bitcoin. But killing bitcoin is a very hard thing to do.
Bitcoin is so unstoppable right. But who knows? Maybe the one the could kill bitcoin is it's split coin. We don't know that. It's hard to imagine. But i always keep in mind that bitcoin may replaced by any altcoin.

[amacar2]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

I don't think so, Ethereum is quite better than bitcoin because of smart contract and very low block time. But still ETH is struggling to get 10% of the bitcoin price and any coins we might have in near future which will be way better than bitcoin will also struggle to gain adoption and price like bitcoin.

[bamboylee]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

You can never rule out that possibility. Like everything else, something old can be replaced by something better. That can happen to bitcoin too. But I do not thing bitcoin will lose all its value when it happens. It will retain some value because there will still be loyal users.

[Anyobsss]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

It is possible but i think that it is too soon for bitcoin to be phased out. Bitcoin is like the founder of currency, the father of digital currency. He is the gamechanger so i don't think that there would be a better currency than bitcoin but who knows.

[hatshepsut93]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

Better in terms of what? Transaction fees and speed? Security? Blockchain size? Scalability? Privacy? If one of those features will be implemented at expense of some of the rest, it won't be able to directly compete with Bitcoin. Look at the current coins - there are many with better privacy, cheaper fees, faster transactions, but every merchant and service use mostly only Bitcoin because it's secure and reliable - and that's more important than other features. And if some new coins would be overall better than Bitcoin, it will take a long time before people will start massively adopting it, since very new tech requires years of testing.

[ruthbabe]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

There's already a better digital currency created, it's Ethereum and yet bitcoin is still there on top. Please Google, Bitcoin vs Ethereum Which Is Better and you'll find all the answers you need to know.

[treather]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

Technology moves at a very fast pace, no need worrying yourself about an eventuality. Will cross that bridge when we get there, for now, it is all about bitcoins and the over 1000 alts competing for relevancy.

[twicezeroiszero]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

There are a possibilities that bitcoin will phase out, like if the government announced that bitcoin will no longer acceptable to use in any transaction or banned it world wide and the government will announce and implement their own version of bitcoin to use in global transaction and become no. 1 online currency worldwide.  

OP is asking if bitcoin would be phase out by another Crypto and not by the Government I really think the Government would not implement in banning bitcoin without further explanation on what is their motives are, but I guess a newly digital currency would surely can't stand a chance against bitcoin but there are a possibility that thing might happen.

If the banks can create a currency use blockchain technology, I think they can do that.
Because when they can create a currency use platform like Bitcoin, only difference is centralization, they will apply more rules in Bitcoin and make us use their currency.

[noictib]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

I don't think that it is possible that anyone can create new currency like bitcoin because many coins coming and going to dead  but no one getting success for bitcoin like currency.
Here we should see at the factor that what is making us to use bitcoin more than any other coin.
Here most of the people knows about the bitcoin because it is the first coin which entered in the bitcoin field, so here we have trust that we are with guinune thing and another things after it are only a type of copy.
But still here we can think that there can be a future where only the team. Of bitcoin only will be able to make bitcoin and no one because to compete the bitcoin, the new coin needed not only a new concept but a better stable technology like bitcoin have.

[SONG GEET]

Bitcoin have already gained a huge community support and demand for bitcoin is growing because people are talking about bitcoin in every corner of the world as well as big media outlets are covering so much about bitcoin lately.

There are many merchants already accepting bitcoin, which will be quite hard for any other altcoin.

So no any altcoin can kick out bitcoin anytime soon.

[cyberChevan]

What if someone creates a better digital currency? Will bitcoin be phased out? And how likely  is it for that to happen?

There are several cryptocurrencie already exist that are better than Bitcoin. Have you seen Bitcoin stepped down from its throne? Nope. So an altcoin will not overtake the position of Bitcoin. Bitcoin will stay at the top even there is something better. The main issue there is the trust and the support from the community. It may happen in the future, the phasing out of Bitcoin, but it will not be replaced by a new coin. It will be replaced by an old coin.