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Author Topic: Will the bitcoin be outdated by another currency?  (Read 5252 times)
Chingchangfu
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April 15, 2018, 07:52:04 AM
 #101

My Answer is No As long as they buy n sell bitcoin And Use For Investments Because Bitcoin Block chain  Is the Safest .

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April 15, 2018, 07:59:30 AM
 #102

That would depends if bitcoin will not going update whatever to be updated just to be first in t cryptocurrency world. but as of the moment bitcoin is stil the best crypto coin existing so far. Besides this kind of currency is very new in this world so i guess it will take a little long to outdated by new one.
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April 15, 2018, 08:00:53 AM
 #103

It will be very hard for other cryptos to take number one spot of cryptos, especially if developers fix the speed of bitcoin transactions with Lightning network. People still love bitcoins even if some other cryptos are quite better right now and I don't really know why.


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April 15, 2018, 10:22:49 AM
 #104

I totally agree with your opinion! Bitcoin has already become a symbol of cryptocurrency. People may not know the term "cryptocurrency", but everyone knows exactly what bitcoin is and its purpose.

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April 15, 2018, 10:41:28 AM
 #105

Bitcoin does look somewhat old-fashioned against the background of altcoins. He first came out and probably was not ready to such growth of popularity. But this only seems.It's actually a classic. All mathematical laws evenly distribute profits among those who already have coins. Those who joined bitcoin later suffer due to the high transaction price.

To be perfectly honest, there are really a lot of altcoins like Ethereum which is more adept for banks. And damn, their devs are that active unlike bitcoin which we have that scaling issue for the last couple of years. But fortunately for us, bitcoin enjoys the support of our community because its really very popular as investment platforms that why the rules have change, from micro-payment scheme as what Satoshi visions it and now its a mode of investment similar to Gold. So yes, it has been outdated, but to overcome it as the number one crypto is a different thing. So I don't know if there will be coins to take its crown or bitcoin will remain the top dawg of cryptosphere.
Well, did they not say slow and steady wins the race ?
The last time I checked, it is not like the bitcoin devs have not been working, they are just taking their time to make sure they do it right. We all keep talking about scaling issue, ordinary KITTENS screwed up Ethereum network pretty fast.

The thing is that we may not exactly see what is going on underneath, but one thing I have believed is that, to see bitcoin on the large scale we all keep clamoring will mean doing it right which I believe most investors already trust the bitcoin devs to be doing. We cannot tell what the future holds, but I really do not see any coin displacing bitcoin from that throne since it is just a matter of time before we see that protocol updated to suit the need of the users.

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April 15, 2018, 04:44:16 PM
 #106

I have not found any of these signs will happen at this time. but in the economic world all can happen, including bitcoin outdated by another currencies.
Indeed, in cryptocurrency all can be happen, that's unlikely to be possible. But keep in mind, trust can't be underestimated just because there is a higher quality altcoin than bitcoin. Bitcoin has a large market compared to altcoin, which means many investors have more confidence in bitcoin than altcoin.

They (investors) will prioritize investments in bitcoin, after which altcoin will become the second priority. This situation will last long and will even remain the same in the future, its mean bitcoin can not be outdated by another currency. Investors will determine bitcoin be outdated by another currency or bitcoin can not be outdated by another currency.
As long as the trust has been there all along, bitcoin has been able to stand the test of time, and it is developing, is one of the major factors why the older investors will not even in any way think of the idea of stopping to support bitcoin. Altcoins may have come up with some very sweet idea, but you will only start finding those loop holes eventually when you start using them the way bitcoin has been used, so in one word, it pays to stick with what you believe in that we have seen the loop holes, building on it and staying stronger than a baby that is just starting its life.

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April 15, 2018, 05:23:54 PM
 #107

I totally agree with your opinion! Bitcoin has already become a symbol of cryptocurrency. People may not know the term "cryptocurrency", but everyone knows exactly what bitcoin is and its purpose.
I think that one perspective can not be built on prospects. If he Bitcoin has real opportunities to become the leader of clips of the crypto currency in the future, then this will be so. But for today we expect soap bubbles, and not the real price for Bitcoin.

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April 15, 2018, 07:02:10 PM
 #108

No. Bitcoin is the first coins that started cryptocurrency. All the ideas of other coins in cryptocurrency is based on Bitcoin. Base on my observation if Bitcoins goes down in the market, other cryptocurrency coins also go  down. I think Bitcoin will not be outdated.
It is true that the entire market is possible because of bitcoin and not every coin at this stage is based on bitcoin protocol, things have changed a lot from the begging and there are promising coins that focuses more on privacy and with increased scrutiny by the governments i think privacy coins will be used more frequently in the future but bitcoin will be global currency.
true, the use of other coins will be widely used for everyday life, like there is in the field of transportation, data security, and others. but bitcoin remains the parent that overshadowed the other coin.
That was the point anyway where we have their usage through apps and all that with a lot of things going digital. This is the main reason why a lot of altcoins without real life usage are going to end up in the ditch and thrown away like rag that they are.

All the above, bitcoin is here to stay on top as the main currency of usage and the ideas of other altcoin is based on it, and let’s see how this is going to be playing out for some alts once bitcoin is able to rectify the scaling issue completely and made use of in the mainstream level.


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April 15, 2018, 07:54:04 PM
 #109

Bitcoin has been the umber 1 coin for so many years now and it'll continue to be so because the majority of the community trust it blindly and everyone around the globe know that this coin is a sure investment , that's why it won't be surpassed by any other coin even if it has much more advantages .
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April 15, 2018, 08:14:38 PM
 #110

I totally agree with your opinion! Bitcoin has already become a symbol of cryptocurrency. People may not know the term "cryptocurrency", but everyone knows exactly what bitcoin is and its purpose.
I think that one perspective can not be built on prospects. If he Bitcoin has real opportunities to become the leader of clips of the crypto currency in the future, then this will be so. But for today we expect soap bubbles, and not the real price for Bitcoin.

Bitcoin is the rock star of the crypto currency market. This is being doing this from 2009 but still there is no crypto currencies can compete the bitcoin since it is good in smart contracts as well.
I have seen that you really looking forward to find the bitcoin price bumped in the market.
But this is not a permanent bump in the market. In some days again we will find the price fluctuatations and then end of this year we will find the bitcoin price touch the peak value.

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April 18, 2018, 10:43:18 AM
 #111

My Answer is No As long as they buy n sell bitcoin And Use For Investments Because Bitcoin Block chain  Is the Safest .
I also feel that it is not possible because blockchain has its own credibility and it will never let bitcoin outdated. Other currencies are far behind from bitcoin and due to huge investment in bitcoin people have no such extra money to buy more cryptos and also due to authentication. Many cryptos are scams and the people have lost their money in anonymous cryptos.
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April 18, 2018, 10:51:51 AM
 #112

My answer to the principle is: NO

Bitcoin is money, the value of money is built on confidence, tradition and security, attributes that Bitcoin offers easily. The analogy between Bitcoin and social networks is completely incorrect, people think that Bitcoin is an myspace that will be replaced by facebook. It turns out that Bitcoin is money and not a social network, so this comparison is completely wrong.

Most of mankind's wealth resides in vaults for hundreds of years, so the circulating medium is derisory close to it. Why are we going to need fast, no-fee coins if we can use paper money and banks? Bitcoin's purpose is to be a safe asset, scarce and superior to gold. What is behind Bitcoin is the fact that no politician can steal you through taxes or inflation, there is nothing safer than Blockchain and Bitcoin. So far no technologically superior currency has emerged to Bitcoin to the point of provoking an abyss between technologies and will hardly emerge.

BUY BITCOIN TODAY AND ALWAYS.

There are different types of coins today that is being released in the market and there is no doubt that one of the altcoins in the future might shine because people will focus on investing in it depending on its platform.
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April 18, 2018, 11:11:51 AM
 #113

For me it is NO, due to the unique nature of virtual currencies, there are some inherent advantages to transacting through Bitcoin that users of other currencies do not get. Digital currencies are a relatively new and untested medium of exchange, and users should be careful to weigh their benefits and risks. That said, Bitcoin appears to offer some unique possibilities.

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April 18, 2018, 11:14:43 AM
 #114

For me, its a yes, many cryptocurrency which is far more superior than bitcoin when it comes to transaction speed, functionality and uses of the platform. It just that among all of the cryptocurrency, bitcoin is well known for its number of years in the industry.

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April 18, 2018, 12:22:29 PM
 #115

BUY BITCOIN TODAY AND ALWAYS.
Yes, I agree with you. Buy Bitcoin, but not always. The most of crypto currencies are volatile. You better to buy Bitcoin on the low levels when its price is low.

In addition to the word "always", I can argue to you from the technical side. Every block of the Bitcoin has a defined structure. The size of the field "timestamp" is only 4 bytes in Unixtime format, so this means that the latest date of the block is limited to 19 January 2038 (actually to 7 February 2106 if the unsigned integer is used). To avoid this limit, the adoption of the Bitcoin hardfork to increase the field "timestamp" size is necessary. In this case, we can use the word "always", I think.

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April 18, 2018, 12:26:34 PM
 #116

For me, its a yes, many cryptocurrency which is far more superior than bitcoin when it comes to transaction speed, functionality and uses of the platform. It just that among all of the cryptocurrency, bitcoin is well known for its number of years in the industry.
All alts only copied and reinvent what bitcoin is for, they just add the spice that needs to develop and needs to sustain in a field where competition is always present, it is just that bitcoin already proves itself to many.

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Hadji
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April 18, 2018, 12:27:52 PM
 #117

Most likely not, it will become bitcoin, fat and desirable, like a diamond or gold today, whether it will be a daily currency, is this a question, is it convenient to drill a diamond to buy coffee?
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April 18, 2018, 12:31:49 PM
 #118

I think that bitcoin cannot be replaced from then on. We know how many ICO are created everyday. Everyday, there is always a new ICO invented. Every ICO is converted with bitcoin, this ICO invented is equivalent to a bitcoin. We know how ICO, and how many investors are investing for a new ICO.

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Cointertrade
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April 18, 2018, 12:36:26 PM
 #119

At present, I don't think that any other coin would beat bitcoin, but there are a few good coins that have got a very bright future such as Neo.
aparently many currency that are trying to outdated bitcoin but mostly they cant replace bitcoin, 9years old bitcoin is still the best currency and many opportunity bitcoin that given to us so i think it wont outdated by others and it wont replace by other currency.

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April 18, 2018, 12:39:42 PM
 #120

Bitcoin is simple, and that's what people like. People want to store value, move value back and forth, and if possible, at low cost. Altcoins have been offering all sorts of gimmick features throughout the years, but 95% of the people aren't interested in using these features at all, which once again points out that it there is no such a thing as Bitcoin being outdated.

Another aspect I see people complain about, is that Bitcoin's transaction fees are so expensive while altcoin fees are so insanely low. Roger Ver did that too, and he even made fun of Bitcoin various times in his streams as well. People should understand that the only reason altcoins are able to offer cheap transaction fees is because barely anyone is using their networks. High fees = high demand for block space. Low fees, or even no fees = low to no demand for block space (ie, coin is practically redundant). While I don't like altcoins, I do like their presence and the global interest in them. It's impossible to point out exactly, but the altcoin market makes sure a very large number of Bitcoins are taken out of direct circulation, and that makes sure there will only be more coin scarcity in the coming years. In other words, booming altcoin market is great for Bitcoin as well.

I agree. And I think it still has a lot of time to prosper and undergo so many changes that could help it grow as a currency, an asset, and a market in general. However, I have come to know that, in the world today, people always seek things that could make their lives better and easier, whether it's from improvements on technology or improvements in business, like the introduction of bitcoins, which is a combination of both. There will always be new inventions and discoveries that could overtake an old technology, and in the next few years, cryptocurrency will be old, and so, something new may replace it, for all we know.

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