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Author Topic: Is there a chance that ALTCOIN will Replace Bitcoin In Future?  (Read 285 times)
jenny399
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January 13, 2018, 10:29:45 AM
 #1

It seems rising fees of Bitcoin BTC has causing people to leave it and attain other currencies.Probably the biggest challenge that bitcoin faces today is scalability. Currently, bitcoin users are being charged an average of over $30 per transaction and transactions can take several hours to confirm. So its a big disadvantage here for bitcoin
As far i think bitcoin will loose its value
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January 13, 2018, 10:44:11 AM
 #2

None of the decentralized alts are scaling better than BTC though. For the most part their fees are still low because they process only a fraction of the transactions that BTC does.

I agree that whatever coin manages to solve scalability will likely become the dominant one. This could very well be an alt at one point, but none of the current ones is quite there yet.

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January 13, 2018, 10:49:21 AM
 #3

None of the decentralized alts are scaling better than BTC though. For the most part their fees are still low because they process only a fraction of the transactions that BTC does.

I agree that whatever coin manages to solve scalability will likely become the dominant one. This could very well be an alt at one point, but none of the current ones is quite there yet.
I agree for now, but maybe in the future there will be an altcoin work just like bitcoin but with cheaper fee and faster transaction
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January 13, 2018, 11:03:15 AM
 #4

Will replace bitcoin? I don't think so, look, many Will claim that they are better than bitcoin, but they're not, few years back, bitcoin process and fees are the same as other altcoin, they claim that they're better without considering the fact that they're walking on the path that bitcoin created few years back. Bitcoin is the king, it pave the path while altcoin look up. Bitcoin is simple and efficient, years ahead tested, and continually upgrading base on demand, it's also widely adopted.  There's more but I prefer not to discuss. Altcoin claiming that they're better than bitcoin is like, child claiming to be wise and brilliant than his grandfather. Totally bullshit.  Grin
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January 13, 2018, 11:11:58 AM
 #5

Of course not. Bitcoin is clearly a protocol for sending value around the internet. Any computer science geek can tell you it meets all the requirements to be a bona fide protocol.

All protocols gain dominance and hold it in the same way, without exception: Once one protocol gets out in a clear lead against any competing protocols, the Network effect never fails to work for it and against every competitor. This is unavoidable; it's just human nature.
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January 13, 2018, 11:14:12 AM
 #6

This value of bitcoin is because of the trust it got from all the users of it.
With a lot of altcoins out there, how do you think a large amount of people will have the same thinking of just trusting one again.
All will have the same problem when it gets populated. The bloated transactions is the problem. Too many users and cannot be handled.
I do think all of them will have the same problem when that time comes.

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January 13, 2018, 11:16:09 AM
 #7

Will replace bitcoin? I don't think so, look, many Will claim that they are better than bitcoin, but they're not, few years back, bitcoin process and fees are the same as other altcoin, they claim that they're better without considering the fact that they're walking on the path that bitcoin created few years back. Bitcoin is the king, it pave the path while altcoin look up. Bitcoin is simple and efficient, years ahead tested, and continually upgrading base on demand, it's also widely adopted.  There's more but I prefer not to discuss. Altcoin claiming that they're better than bitcoin is like, child claiming to be wise and brilliant than his grandfather. Totally bullshit.  Grin

i somehow agree but many has left bitcoin due to its high fee and time taking transactions
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January 13, 2018, 11:21:00 AM
 #8

Bitcoin will always have the first mover advantage with the biggest brand name & biggest trust due to how long it has been in existence compared to all the alts. For this reason, I don't see Bitcoin dominance coming under serious threat just yet. However, any coin the solves the scalability issue first has a big chance to replace Bitcoin in the future, time will tell.
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January 13, 2018, 11:22:41 AM
 #9

for the moment I think no one can compete with bitcoin one by one means its price or its popularity, the reason is:
1. bitcoin is another ancestor of coins or bitcoin is the origin of the birth of another coin.
2. bitcoin has spread all over the world to sudan though
3. bitcoin will be the benchmark of other coin prices such as dollars with other countries currencies
4. and other coin newly developed in some countries not like bitcoin.
    I think that's the reason why bitcoin can not be replaced by another coin.
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January 13, 2018, 11:25:11 AM
 #10

yes i think many ALTCOIN are very powerful and they have more good project too.
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January 13, 2018, 11:26:45 AM
 #11

there is an ugly truth hidden in all of the altcoins that i have checked out so far. and that is same or worse scaling problems.

this ugly truth doesn't come out until they hit more adoption and become used more. currently as you said people are switching over to altcoins mostly as investments but also that will increase the number of transactions they support and that means the issues will surface soon. some of them have already failed to handle this transaction surge.

also the keyword here is "decentralized" otherwise use PayPal and ...

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January 13, 2018, 11:31:28 AM
 #12

There is always this possibility in the future. Bitcoin is a popular alts currency but this popularity can be put in an end if other alts has the power to do it. In good marketing and many supporters, bitcoin would be put in the grave danger in losing its number one spot. But i have the feeling that it will happen in very far future. Many people still believe in the capacity of bitcoin as the king of all alts. No one still can verify that possibilities.

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January 13, 2018, 11:33:23 AM
 #13

for the moment I think no one can compete with bitcoin one by one means its price or its popularity, the reason is:
1. bitcoin is another ancestor of coins or bitcoin is the origin of the birth of another coin.
2. bitcoin has spread all over the world to sudan though
3. bitcoin will be the benchmark of other coin prices such as dollars with other countries currencies
4. and other coin newly developed in some countries not like bitcoin.
    I think that's the reason why bitcoin can not be replaced by another coin.
Even though Bitcoin is pretty popular, other cryptocurrencies are also gaining on them as well, the likes of Bitcoin Cash a spawn of of Bitcoin itself seems to be doing very well. Mainly because of it's cheap fees and faster transaction. And it's value is steadily rising as well.

 
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January 13, 2018, 11:35:37 AM
 #14

There is a possibility that a certain alt coin will replace bitcoin in the future if bitcoin is already gone. If we will look at the graph today, it seems so impossible for an alt coin to surpass or even match bitcoin's achievement. Bitcoin is the king of cryptoworld so i don't think that there is a coin that can replace it as long as bitcoin exists in the cryptoworld.

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January 13, 2018, 11:36:14 AM
 #15

Why replace someone if bitcoin and altcoins are the components of the crypto currency market and have their own value. Of course, you do not need to underestimate the value of some altcoyins.

 
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January 13, 2018, 11:42:50 AM
 #16

Maybe in a real far future. For the upcoming years Bitcoin will have the benefit of being the first coin people heard about and in the case of many people its still the only coin they know. Even though an altcoin could be better it can not compete with the popular name of Bitcoin
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January 13, 2018, 11:48:17 AM
 #17

None of the decentralized alts are scaling better than BTC though. For the most part their fees are still low because they process only a fraction of the transactions that BTC does.

I agree that whatever coin manages to solve scalability will likely become the dominant one. This could very well be an alt at one point, but none of the current ones is quite there yet.
I agree for now, but maybe in the future there will be an altcoin work just like bitcoin but with cheaper fee and faster transaction

We don't know yet, But I am still confident that bitcoin will remain on top in the coming years. Altcoins are fine for me because you can also make good money from them but hey bitcoin are still powerful, the price right now are quiet stable but it doesn't mean it will not go up, it will soar higher soon and the fees will become lower. Bitcoin gets better and better every year, expect more of it this year.

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January 13, 2018, 11:49:03 AM
 #18

It seems rising fees of Bitcoin BTC has causing people to leave it and attain other currencies.Probably the biggest challenge that bitcoin faces today is scalability. Currently, bitcoin users are being charged an average of over $30 per transaction and transactions can take several hours to confirm. So its a big disadvantage here for bitcoin
As far i think bitcoin will loose its value
Altcoin to replace bitcoin is hard to be true because people have been invested money in bitcoin definitely dont wanna cashing their money to get altcoin.
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January 13, 2018, 11:55:17 AM
 #19

Alt-coin like ETH, DASH, LTC, ZEC, XMR and others will be seen a companions to Bitcoin, not competitors.

Each serves it's own special purpose.

BTC is the gold standard as a highly secure store of value.

Bear in mind we are witnessing a birth of something quite new.

We are where the Internet was back in 1993-94 as far as crypto goes.

Only this time the evolution is going to happen so much faster as the world is already mostly connected with super computer capable hand-held devices and widely available Internet.
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January 13, 2018, 12:08:25 PM
 #20

Not probably, no. Bitcoin is THE coin that started all of this, so it will definitely be the most important coin for the foreseeable future. Altcoins are more specialized and they all have their niche purposes, but I think it won't be possible for altcoins to replace bitcoin.

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January 13, 2018, 12:17:04 PM
 #21

There are possibilities that other coins may take over bitcoin but that would be in the many years to come, Bitcoin might have some issue in resistance but this doesn't mean that it will surely be drop and other coins may take over, And even though many people are now into Altcoins this doesn't mean that that same investors doesn't have hodling any bitcoin like myself I got 75% with bitcoin 15% with fiat 5% in Ethereum and a 5% with Electroneum but that number is changing because Cryptos can be unpredictable in price.
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January 13, 2018, 12:25:08 PM
 #22

They would first need to decouple from btc - otherwise a fall of btc value would also impact their value
ETH seems like is trying to do that but i'm not sure it will succeed
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January 13, 2018, 12:26:38 PM
 #23

not the current existing altcoins, no. but it is possible for bitcoin to be replaced by another alternative cryptocurrency that can improve the functionality without losing any of the advantages that bitcoin has. for example it should be able to address the scaling issue while keep things easier to be decentralized.

sometimes they look like they have fixed it though. but when you check them out you can see that they are either not solving anything or if they did they only improved upon it while losing a lot in the process for example making things centralized instead.

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January 13, 2018, 12:27:02 PM
 #24

None of the decentralized alts are scaling better than BTC though. For the most part their fees are still low because they process only a fraction of the transactions that BTC does.

I agree that whatever coin manages to solve scalability will likely become the dominant one. This could very well be an alt at one point, but none of the current ones is quite there yet.
Yes I agree with you, no coins is following the path of bitcoin right now. Maybe one day we can see new coins that has the potential to beat bitcoin but right now I can't see it coming just yet.
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January 13, 2018, 12:36:02 PM
 #25

None of the decentralized alts are scaling better than BTC though. For the most part their fees are still low because they process only a fraction of the transactions that BTC does.

I agree that whatever coin manages to solve scalability will likely become the dominant one. This could very well be an alt at one point, but none of the current ones is quite there yet.
I agree for now, but maybe in the future there will be an altcoin work just like bitcoin but with cheaper fee and faster transaction

Like I said... the dominant coin could very well be an alt at one point, but the current ones are not quite there yet in terms of scalability.

I think BTC will see the most work being done, which will put it ahead of the crowd for years to come. I do expect to see the existing alts to improve as well though, so who knows Smiley


Alt-coin like ETH, DASH, LTC, ZEC, XMR and others will be seen a companions to Bitcoin, not competitors.

Each serves it's own special purpose.

[...]

Excellent point of view. It's important to keep in mind that the endgame is the prosperity of crypto as a whole is, with BTC just being part of a bigger picture.

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January 24, 2018, 07:37:45 AM
 #26

It seems rising fees of Bitcoin BTC has causing people to leave it and attain other currencies.Probably the biggest challenge that bitcoin faces today is scalability. Currently, bitcoin users are being charged an average of over $30 per transaction and transactions can take several hours to confirm. So its a big disadvantage here for bitcoin
As far i think bitcoin will loose its value
In terms of USD value I dont see any alts that can possible dethrone bitcoin. However in terms of technology and mass adoption there is a possibility that there would be and alt coin that could over take bitcoin. Some alts(would not name drop to avoid bias) are starting to fix and develop some of the issues from btc. Net, these are the ones who would be more adapted in the open market and not just in trading.
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January 24, 2018, 07:38:42 AM
 #27

No, this is not going to happen unless we have some new coin with another revolutionary concept.
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January 24, 2018, 07:43:52 AM
 #28

Yeah,it is possible to replace bitcoin with an altcoin if that altcoin have great demand like bitcoin have.For example google is the current best search engine but before that yahoo so who is best then they will be at the top no matter of the year when it eas launched.
But still bitcoin is the best coin in terms of its value but bitcoin price keeps crashing due to the high transaction fee.But still no coin is yet ready to beat bitcoin even they have low fee at the moment because other coin also will face the same issue if they have great demand as bitcoin do.

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January 24, 2018, 07:47:45 AM
 #29

Today I cannot see potential of any coin which will gave it chance to replace bitcoin. There are some good coins, with good future I think, but more likely they will not be able to replace bitcoin.

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January 24, 2018, 07:52:47 AM
 #30

No one can replace Bitcoin from any altcoin from now even though its price drops until now. It maybe said that these are who have been exposed to high transaction fees happening today. Until many holders or investors in Bitcoin no one from the atcoins can replace it.
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January 24, 2018, 08:00:05 AM
 #31

There are new technologies, that will have their niche. Each crypto does a different thing, but Bitcoin is the most tested, the longest, and everything in crypto goes through Bitcoin. If there is one to replace Bitcoin I think it is Ethereum long term, but there are many contenders. Also Ethereum is a different thing actually.
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January 24, 2018, 08:01:32 AM
 #32

Most altcoins are technically different from Bitcoin, and it is often for this reason that people invest in them. Altcoins can be used more widely than Bitcoin. This means that they are more useful than Bitcoin, and that means they will be able to surpass it one day.
The main advantages of Bitcoin are the network benefit effect and proven security. Both of these advantages are almost insurmountable. Therefore it is difficult to overtake Bitcoin.

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January 24, 2018, 08:16:20 AM
 #33

No one can replace Bitcoin from any altcoin from now even though its price drops until now. It maybe said that these are who have been exposed to high transaction fees happening today. Until many holders or investors in Bitcoin no one from the atcoins can replace it.
I agree, I don't think a certain altcoin would replace bitcoin in the future. Although the issue's exist like the transaction fees that are being expensive, yet no altcoin could beat the bitcoin existence. There are many users in bitcoin and it's appearance is still stronger.
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January 25, 2018, 07:00:18 PM
 #34

Transactions have truly become very expensive, unfortunately, because of this it can easily lose its clients. But I think that so far it's not gonna lose its value so much.
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January 25, 2018, 07:12:19 PM
 #35

In terms of value, I think an alt could someday be more than bitcoin in price. But the chance(s) of any Altcoin taking over bitcoin in the future, is kind of slim, reason being that, bitcoin is the first known cryptocurrency, others are just referred to as Alternative.

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January 25, 2018, 07:15:39 PM
 #36

I think that in a not so distant future another coin will release bitcoin as payment coin.
Right now I have already recognized that shops don't accept bitcoin as a payment anymore who already did.
Mostly because of the high fees.
A gap in the system of cryptocurrencies is opening up, and we need a coin to fill that gap.
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January 25, 2018, 07:17:59 PM
 #37

Bitcoin fees have become high and an altcoin can solve the problem but I don't think it can replace Bitcoin.



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January 25, 2018, 07:21:00 PM
 #38

It seems rising fees of Bitcoin BTC has causing people to leave it and attain other currencies.Probably the biggest challenge that bitcoin faces today is scalability. Currently, bitcoin users are being charged an average of over $30 per transaction and transactions can take several hours to confirm. So its a big disadvantage here for bitcoin
As far i think bitcoin will loose its value
We wouldnt know but could also possibly be. But i think, as the currency (could be bitcoin or altcoin) increase in value and popularity as well as demand and transactions, the tendency for the transaction fees to increase is also posible. So if one of the potential altcoin is going to surge high and excede bitcoin’s demand it will eventually raise in transaction fees.
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January 25, 2018, 07:26:41 PM
 #39

In principle, I agree with you, bitcoin is inferior in many respects to new crypto-currencies. Almost all bitcoin is mined, which makes you wonder, and what will happen next? There are two opinions, one of which is that bitcoin will lose its value, and the second that it will be like a new "gold", so we'll see what happens to it.

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January 25, 2018, 07:39:45 PM
 #40

Yes that sounds interesting. Having bitcoin as investment (like gold) whereas other altcoins may become adopted due to better technology, easier, faster and truly anonymous.
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January 25, 2018, 07:41:47 PM
 #41

I think bitcoin is too valuable to be replaced one day. I personally don't think this could happen
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January 25, 2018, 07:47:22 PM
 #42

It seems rising fees of Bitcoin BTC has causing people to leave it and attain other currencies.Probably the biggest challenge that bitcoin faces today is scalability. Currently, bitcoin users are being charged an average of over $30 per transaction and transactions can take several hours to confirm. So its a big disadvantage here for bitcoin
As far i think bitcoin will loose its value

I do foresee a future where Alts do takeover.

BTC is far too clunky for commerce use. The technology can be used in other dapp formats though.

I just constantly refer back to the beginning of the computer age. DOS is just like bitcoin, and windows and mac are the Alts.
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January 27, 2018, 10:38:13 AM
 #43

Of course not, Bitcoin opens the path as altcoin grows. and continue to increase the base on demand, but Altcoin claims that they are better than bitcoins, Bitcoin is definitely a protocol for sending value on the internet, and meets all the requirements to become a bona fide protocol ...
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January 27, 2018, 10:50:12 AM
 #44

Of course not, Bitcoin opens the path as altcoin grows. and continue to increase the base on demand, but Altcoin claims that they are better than bitcoins, Bitcoin is definitely a protocol for sending value on the internet, and meets all the requirements to become a bona fide protocol ...
Why no? I think in the next 20 years we will see a new coin built on more advanced technology, which will eventually shift the bitcoin from the first place. Bitcoin is far from perfect.
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January 27, 2018, 10:54:22 AM
 #45

Its true that BTC is like the gold standard and has first mover advantage over all the other Alt Coins, however i am still a strong believer that oneday there will be a coin that will surpass Bitcoin in market cap.
Whether or not that will be a "replacement" of Bitcoin is unlikely because Bitcoin will continue to be the highest valued cryptocurrency out there due to its nature.

I hope that answers the question Smiley
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January 27, 2018, 12:36:48 PM
 #46

It seems rising fees of Bitcoin BTC has causing people to leave it and attain other currencies.Probably the biggest challenge that bitcoin faces today is scalability. Currently, bitcoin users are being charged an average of over $30 per transaction and transactions can take several hours to confirm. So its a big disadvantage here for bitcoin
As far i think bitcoin will loose its value

Yes, i agree with you that rising fees of bitcoin causing people to leave it and the scalability issues of bitcoin had made to think on upgrading the bitcoin by the bitcoin developers and we can expect that bitcoin will soon be upgraded because of this issues. So after the updated version of bitcoin released in coming years, we will be seeing all the issues fixed like big time taken for completing the transaction will soon be reduced and also the other issues like scalability, high fees will soon disappear in coming years, as I believe that bitcoin will be developed as necessity is the mother off invention and right now the necessity to make this high fees disappear is required .

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January 27, 2018, 12:53:13 PM
 #47

If they will not solve the problem of bitcoin which is the slow transaction speed and the high transaction fees, then in a decade or two it can be replace by another altcoin. However, this is just a pure speculation only since we know already that bitcoin is the first digital currency and its the most trusted coin. For me, there is a slight chance that it will be replaced if the said problems will not be solved as soon as possible.

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