Silentsweeper (OP)
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March 05, 2018, 02:55:11 PM |
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Is crypto currencies only valuable to the extent that others are coordinated on valuing them?
For a new currency to get traction, it would somehow have to have some kind of unusual advantage over bitcoin.
Maybe a government would outlaw bitcoin or maybe a flaw discovered in the bitcoin protocol.
It would make it easy to switch to another tested currency.
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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TheGodFather
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March 05, 2018, 03:03:28 PM |
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Is crypto currencies only valuable to the extent that others are coordinated on valuing them?
For a new currency to get traction, it would somehow have to have some kind of unusual advantage over bitcoin.
Maybe a government would outlaw bitcoin or maybe a flaw discovered in the bitcoin protocol.
It would make it easy to switch to another tested currency.
I hinestly think that they do have a chance, granted that bitcoin has been very far off when it comes to the financial value it presents but there are many ways that it can get overtaken by another completely new cryptocurrency. Especially woth how volatile bitcoin is, some bitcoin users are actually jumping ship into ethereum or ripple and they do this because they would rather have the peace of mind or the stability that it can have against the high risk and high reward nature of bitcoin currency. |
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kabelpeggek
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March 05, 2018, 03:24:32 PM |
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it will be a very interesting gift, and different from others. how much would you give for a wedding gift? whether 10 or 20 bitcoins?   it seems your idea can also be imitated, I want to surprise my wife on her birthday later, I want to give bitcoin as a gift. |
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alyssa85
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March 05, 2018, 03:28:10 PM |
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Lots of merchants started adding Ethereum, Litecoin, Dash and others when bitcoin encountered it's transaction problems last year.
But we simply don't have the stats to tell whether people are actually using those other coins. (the transactions for ETH remain high, but that might be down to ICO activity).
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CCRBNews
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March 05, 2018, 03:33:35 PM |
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You look at who is financing 'Ripple' one of there biggest investors is Google. Google is therefore going to push them. I would guess when you have Google pusshing you you should do quite well.
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SymbioticCrypto
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March 05, 2018, 03:36:23 PM |
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Bitcoin has the first mover advantage, but that doesn't mean it is guaranteed a seat at the head of the pack forever. Other crypto-currencies have a chance to succeed alongside bitcoin. Success isn't necessarily driven by being the most expensive coin. Adoption is a necessary hurdle that even bitcoin can still make large strides in. I could see certain countries naming official digital currencies that are not bitcoin, to try to bypass any scaling issues that bitcoin has faced. That being said, any new crypto-currency will need to show some unique value that proves it is not just another BTC clone.
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NightCloudz07
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March 05, 2018, 03:38:52 PM |
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Is crypto currencies only valuable to the extent that others are coordinated on valuing them?
For a new currency to get traction, it would somehow have to have some kind of unusual advantage over bitcoin.
Maybe a government would outlaw bitcoin or maybe a flaw discovered in the bitcoin protocol.
It would make it easy to switch to another tested currency.
i think other crypto currency is not have a chance to be like bitcoin and bitcoin is have a long advantage to them that's why it cannot be pull out by the others! |
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mersal
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March 05, 2018, 03:40:17 PM |
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In my opinion bitcoin is too ahead of other crypto currencies in the value and I think it will be in the top forever.But if other crypto currencies can make enough demand than bitcoin than it also can beat but the chance for happening is less.
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BitcoinHodler
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March 05, 2018, 03:42:48 PM |
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i would like to call it in a different way. other altcoins are too far behind not just bitcoin being far ahead.
and sadly that is mainly because the altcoins have not been focusing on utility, instead they have been focusing on things that people may get more excited about so that they can get more hype and get pumped more and become richer.
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Holding Bitcoin More Every Day
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Silentsweeper (OP)
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March 05, 2018, 03:50:15 PM |
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Similar to Bitcoin, there’s a finite number of Eco being created. But unlike bitcoin’s 21 million, Eco set the cap at 1 trillion to make it possible for “billions of users to own many Eco tokens,”
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jpaul
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March 05, 2018, 04:01:34 PM |
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The only coin I think that has a chance is Ethereum, otherwise all the other coins are far behind Bitcoin. Ethereum is the only coin that Bitcoin needs to fear as it alone handles more transactions then the entire cryptocurrencies combined and has hundreds of dApps and tokens being built on its platform.
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Notcalculator
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March 05, 2018, 04:08:59 PM |
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Money is only valuable because people believe it has value. It is just a piece of paper that the government swears has value. As adoption rises in btc and other cryptos, we will begin to see its problems. That is how each and every crypto will be tested and which ever survives will obviously be the one adopted. I really think the underlying technology has more to do in its success or demise than politics. It is unlikely the government will favor one crypto over the other as they have no excuse in doing so.
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wxa7115
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March 05, 2018, 04:11:56 PM |
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Is crypto currencies only valuable to the extent that others are coordinated on valuing them?
For a new currency to get traction, it would somehow have to have some kind of unusual advantage over bitcoin.
Maybe a government would outlaw bitcoin or maybe a flaw discovered in the bitcoin protocol.
It would make it easy to switch to another tested currency.
Bitcoin has a huge advantage because it is the first cryptocurrency and the devs are the best and the concept of bitcoin is very well thought, however altcoins have a chance to gain some market if they do something bitcoin can't, for example bitcoin is not anonymous at all and so anonymity coins like monero or dash have a market they can keep for themselves, but if a coin is just another bitcoin copy then we can say that coin is destined to fail. |
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bohboh
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March 05, 2018, 04:14:57 PM |
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Bitcoin has gone too far, but only ethereum has the likely potential of bitcoin, the chances is slim for other cryptocurrency to overtake bitcoin.
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Kate Beckett
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March 05, 2018, 04:21:07 PM |
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In my opinion bitcoin is too ahead of other crypto currencies in the value and I think it will be in the top forever.But if other crypto currencies can make enough demand than bitcoin than it also can beat but the chance for happening is less.
I agree that Bitcoin has gone far ahead. But this is only the current situation. In the future, everything can drastically change. Take at least the fact that Bitcoin itself has long ceased to be homogeneous - it splits into parts that feel no worse than the original. I think that in the future, Altcoins,even if they do not beat Bitcoin, they will definitely cease to be secondary projects. |
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Slow death
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March 05, 2018, 04:38:58 PM |
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Is crypto currencies only valuable to the extent that others are coordinated on valuing them?
For a new currency to get traction, it would somehow have to have some kind of unusual advantage over bitcoin.
Maybe a government would outlaw bitcoin or maybe a flaw discovered in the bitcoin protocol.
It would make it easy to switch to another tested currency. do not you like bitcoin? and if you like bitcoin what do you like bitcoin? if you know the answer to these questions then you can say why the altcoins will not be the same as bitcoin, first bitcoin does not have a creator that we know, so it creates a feeling where each person believes to be part of something very great, something revolutionary, you do not knows who is satoshi this is exactly why you admire this satoshi and this is different from the altcoins that we know who are their creators and their reputations that often are not good reputations So the answer to your question will be: bitcoin is too advanced |
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MakeMoneyBtc
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March 05, 2018, 04:46:39 PM |
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I dont think any other coins can have a chance because bitcoin is to far ahead. Everyone that starts working with cryptocurrencies learn first about bitcoin and only after that about other ICO's and altcoins so that bitcoin is the most popular coin and also the most used by the people.
The only way that a coin can become bigger than bitcoin is if it is going to be created by a government or a very powerful organization that millions of people use and that is possible to happen because there are many projects that involve Blockchain technology with a lot of industries.
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malbterxic
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March 05, 2018, 04:52:01 PM |
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In my opinion bitcoin is too ahead of other crypto currencies in the value and I think it will be in the top forever.But if other crypto currencies can make enough demand than bitcoin than it also can beat but the chance for happening is less.
That bitcoin is ahead of other currencies by capitalization it's a question of time. There are many other projects with a strong potential, I think that the bitcoins have a future like at rare cars or paintings of famous artists )) |
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Nagricoin
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March 05, 2018, 04:57:16 PM |
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I think in nearest future we will have a lot of crypto-currencies. The number of ICO and ITO can prove it). And this is good.
But I'm sure that the blcokchaine community have to make more faster and cheapper exchange.
In this case we will have a realy independent currency.
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goldade
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March 05, 2018, 05:03:58 PM |
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Bitcoin has the first mover advantage, but that doesn't mean it is guaranteed a seat at the head of the pack forever. Other crypto-currencies have a chance to succeed alongside bitcoin. Success isn't necessarily driven by being the most expensive coin. Adoption is a necessary hurdle that even bitcoin can still make large strides in. I could see certain countries naming official digital currencies that are not bitcoin, to try to bypass any scaling issues that bitcoin has faced. That being said, any new crypto-currency will need to show some unique value that proves it is not just another BTC clone.
I believe you are right. Although bitcoin has gone very far in its price as compared to other coins, it does not mean it will last forever. Though, the volatility of bitcoin is what brings profit to traders, I still think it is one of the major reasons why people are deserting bitcoin to invest in other coins. Besides, if nation's government support some of these coins, I believe they may have a chance though it may a very long time to achieve that. |
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