How much can Bitcoin evolve to compete with newer and more advanced altcoins?

[cryptique]

Hi, I'm a fan of Bitcoin but after getting to know more and more altcoins I begin to worry for BTC's competitiveness since many of these altcoins were built to better address BTC's shortcomings and then some.

So I was wondering if it's possible for bitcoin to quickly adapt or even completely replace its underlying technology (i.e. Blockchain) with something like the one used by IOTA for example or any other system (assuming that Tangle or any other better system/technology proved to be successful and well received by the masses). Or is Bitcoin's adaptability and evolution pathway really narrow that it risks being outclassed by newer and better altcoins?

Forgive me if these questions sounds really newbish because I am one and can only understand blockchain and cryptocoin technologies on a colloquial sense.

Appreciate your views and technical insights on the Bitcoin's adaptability.

Thanks

[Pursuer]

Hi, I'm a fan of Bitcoin but after getting to know more and more altcoins I begin to worry for BTC's competitiveness since many of these altcoins were built to better address BTC's shortcomings and then some.

the question you should be asking is "how successful are altcoins in their attempts in creating a better system and fixing the issues that are known?"

and the funny thing is, I have not yet seen any altcoin that could find any solution that actually works for any shortcomings that bitcoin has. if I am missing one out there, I would be happy if you could introduce it to me.

So I was wondering if it's possible for bitcoin to quickly adapt or even completely replace its underlying technology (i.e. Blockchain) with something like the one used by IOTA for example or any other system (assuming that Tangle or any other better system/technology proved to be successful and well received by the masses). Or is Bitcoin's adaptability and evolution pathway really narrow that it risks being outclassed by newer and better altcoins?

I don't think bitcoin can change that much as to abandon its blockchain (replace it with DAG like IOTA). but it is moving in the direction of addressing some of its issues, with things such as Lightning Network. we have to wait and see how that is going to work out in real action.

and I believe if anything has any chance of competing with bitcoin it is an altcoin without blockchain, not necessarily IOTA but something like that.

[sozvdhua]

Hi, I'm a fan of Bitcoin but after getting to know more and more altcoins I begin to worry for BTC's competitiveness since many of these altcoins were built to better address BTC's shortcomings and then some.

the question you should be asking is "how successful are altcoins in their attempts in creating a better system and fixing the issues that are known?"

and the funny thing is, I have not yet seen any altcoin that could find any solution that actually works for any shortcomings that bitcoin has. if I am missing one out there, I would be happy if you could introduce it to me.

So I was wondering if it's possible for bitcoin to quickly adapt or even completely replace its underlying technology (i.e. Blockchain) with something like the one used by IOTA for example or any other system (assuming that Tangle or any other better system/technology proved to be successful and well received by the masses). Or is Bitcoin's adaptability and evolution pathway really narrow that it risks being outclassed by newer and better altcoins?

I don't think bitcoin can change that much as to abandon its blockchain (replace it with DAG like IOTA). but it is moving in the direction of addressing some of its issues, with things such as Lightning Network. we have to wait and see how that is going to work out in real action.

and I believe if anything has any chance of competing with bitcoin it is an altcoin without blockchain, not necessarily IOTA but something like that.

One fork of Bitcoin may have an altcoin with a 100M blockchain. But I think this is not the final form of the blockchain, because the blockchain will eventually have a cap capacity. altcoin and bitcoin eventually evolve into something that has an infinite blockchain, personal guesses.

[whisee]

Hi, I'm a fan of Bitcoin but after getting to know more and more altcoins I begin to worry for BTC's competitiveness since many of these altcoins were built to better address BTC's shortcomings and then some.

So I was wondering if it's possible for bitcoin to quickly adapt or even completely replace its underlying technology (i.e. Blockchain) with something like the one used by IOTA for example or any other system (assuming that Tangle or any other better system/technology proved to be successful and well received by the masses). Or is Bitcoin's adaptability and evolution pathway really narrow that it risks being outclassed by newer and better altcoins?

Forgive me if these questions sounds really newbish because I am one and can only understand blockchain and cryptocoin technologies on a colloquial sense.

Appreciate your views and technical insights on the Bitcoin's adaptability.

Thanks

bitcoin is leader,if you want bitcoin for investment use altcoins better

you can invest 16,000$ in many altcoins better than gambling it in bitcoin

[alkenestoke]

Based from the standing of Bitcoin today, I can say that it can go way further and develop in a more efficient method for payment.

[eternalgloom]

Slower development of new features isn't necessarily a bad thing IMO, I think it's good that enough time is taken to vote on new features and test them enough so that they are ready for use on the main network.

You give IOTA as an example on how to do it differently, which allows me to point out that IOTA isn't anywhere near the levels of security that Bitcoin has.
This is the problem with smart contract platforms in general, they have a lot of features, but there's an inherent risk of vulnerabilities surfacing.

We all saw what happened with Ethereum, IOTA certainly isn't immune to something similar happening.

Just going to leave this here:
https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367

[coynedterm]

Hi, I'm a fan of Bitcoin but after getting to know more and more altcoins I begin to worry for BTC's competitiveness since many of these altcoins were built to better address BTC's shortcomings and then some.

So I was wondering if it's possible for bitcoin to quickly adapt or even completely replace its underlying technology (i.e. Blockchain) with something like the one used by IOTA for example or any other system (assuming that Tangle or any other better system/technology proved to be successful and well received by the masses). Or is Bitcoin's adaptability and evolution pathway really narrow that it risks being outclassed by newer and better altcoins?

Forgive me if these questions sounds really newbish because I am one and can only understand blockchain and cryptocoin technologies on a colloquial sense.

Appreciate your views and technical insights on the Bitcoin's adaptability.

Thanks

In actual I think you are not only thinking that Bitcoin facing competition because many options are available in comparison of Bitcoin to have transaction fee less and confirmation speed more than what the Bitcoin have .
But here not the team that is unaware about it , they are working for the problem ito solve the  problem of unconfirmation and high fee and also the technology improve more and more .
For these things they are going to make experiment like segwit 2x and beside these things only one problem is that is legalisation .

[talkbitcoin]

the question is wrong!
it should be what altcoins can do to compete with bitcoin. and just thinking they are "more advanced" doesn't make the actually more advanced.

and until i see them in real action handling millions of dollars every hour i am not easily convinced about their superiority. so far a lot of altcoins have been advertised as more advanced and each of them failed terribly in a lot of aspects. and the interesting thing is that each of these altcoins (like what OP is advertising if you look at the time this topic was started) are only advertised when they are getting pumped!

[cookerross]

Based from their position right now, I don't think they would separate from their blockchain. Even though there are certain issues now, I'm sure they are making things better for all users.

[kindbtc]

I think they should introduce lightening network soon, where users can transfer btc instantly and with few cent fee only.

[bitart]

I think they should introduce lightening network soon, where users can transfer btc instantly and with few cent fee only.

It's not that easy to introduce the lightning (not lightening) network, that needs time... Everyone is waiting for the lightning network because they think that will solve every problem in connection with bitcoin. It is about to solve most of the current issues, but will cause new issues, to alts. Altcoins exist because the ecosystem needs them. When the BTC mempool is full, it's easier to transfer funds using the top alts like LTC, ETH, etc... But there's a question if there will be a use case for those alts at all, when BTC will be fast and cheap...

[ihaveaquestion]

The only thing that bitcoin needs to be the perfect crypto is just improve the block sizes, the fees, and the time that we need to wait in order to get our transaction confirmed.
Today, i waited more than three hours because my transaction was not being confirmed (with a fee of $20),
so i missed one of the most important moments of the last DIP.

Based from the standing of Bitcoin today, I can say that it can go way further and develop in a more efficient method for payment.

[countryfree]

How much can Bitcoin evolve?

I don't believe there's a limit. BTC will evolve as much as it is necessary, to get faster, to make transactions cheaper, and to get bigger to allow more transactions. A better question in my mind would be: How fast can BTC evolve? This is where we have a problem... Since some alts just have a few guys with a couple computers behind them, they can make upgrades much faster than BTC which needs to convince many stakeholders to change.

[xuan87]

Bitcoin is the pioneer of crypto and Bitcoin got a lot of users, and with a lot of users that using Bitcoin, Bitcoin will outclass the alt coin, but Bitcoin need to keep on evolve and improving things, nowadays alt coins are giving good features to compete with BTC, so BTC need to keep up the performance to stay on top

[777asianinvasian]

Any problems that bitcoin currently has can be solved by technical upgrades and because it is such there isn't an altcoin that is truly superior in my mind. They may have some additional features but nothing bitcoin can't add.

[zngit]

In the first stage of bitcoin introduction I think we can say ' how much can altcoins evolve and compete with the advancement of bitcoin?'

Nowadays the question is as you said how much can bitcoin evolve to compete with newer and more advance altcoins.?
Bitcoin is the first coin and I think just to upgrade some parts of bitcoin services because so many altcoins is in advance.