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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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