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Author Topic: Will the bitcoin be outdated by another currency?  (Read 5251 times)
sgenuine
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May 02, 2018, 12:04:27 PM
 #201

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.

I guess it is a mistake to call Bitcoin the money. Yes, it is the currency, but BTC and money are a bit different things. Nevertheless, you can watch the good video to understand everything: https://www.youtube.com/watch?v=2cwzghttSlI

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May 02, 2018, 01:07:20 PM
 #202

If I do not think this bitcoin will expire due to the increasingly bitcoin enthusiasts growing and the price is predicted to rise by the end of this year and with the increase of bitcoin price then the bitcoin enthusiasts will automatically increase so it can strengthen the bitcoin at the peak of digital currency.
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May 02, 2018, 01:20:50 PM
 #203

Yes, it may well be that today there are a lot of coin developments going on around the BTC, BTC is still the market leader because the BTC brand has a long history. But the advantage of BTC will probably lose many other coins such as ETH, NEO, Ripple ... etc

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May 02, 2018, 02:38:58 PM
 #204

No chances for another currencies to supersede bitcoin from the market scenario because bitcoin is the first crypto currency its market value is considerably increasing due to its steady usefulness to the global community. Bitcoins popularity is increasing day by day and its market capital is very high comparing to the other currencies and also its daily traded volume is high comparing to other  currencies. According to the current market trend no other currencies are there to supersede bitcoin  anyway.
 
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May 02, 2018, 02:44:17 PM
 #205

meh i think is too hard for bitcoin to being outdated there are still many crytpocurrencies are still using bitcoin as it mother of the system and will hard to getting it down too ofcourse

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May 02, 2018, 03:37:14 PM
 #206

meh i think is too hard for bitcoin to being outdated there are still many crytpocurrencies are still using bitcoin as it mother of the system and will hard to getting it down too ofcourse
Me too I doubt  if bitcoin will be outdated and replace  by other cryptocurrencies. Bitcoin cant be demolished  nor replace because  bitcoin  already  rooted  in every wall of this community. Bitcoin was famous because  of its undefeated exchange  rate. Many try to replace  bitcoin as number one but I am sure no one has the charisma and abilities that bitcoin have. Crypto  market may introduced new coins but never be an exchange  bitcoin.

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May 02, 2018, 05:00:05 PM
 #207

I can compare it with gold, gold always has its price, noone can beat it, so in crypto world btc is the gold, so time to buy it rigth now, when the price is still not high as it should be
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May 02, 2018, 06:50:19 PM
 #208

In some ways it depends on whether BTC end up being more a store of value and potential reserve currency vs an all-purpose currency. BTC has a huge lead on cryptocurrencies that seek to simply be a better version of BTC. But, if the BTC dev team doesn't work to make BTC efficient for daily purchases, then something like LTC (or one of the many other projects) could become the dominant crypto for everyday purchases, with BTC remaining the primary store of value.

However, if something like LN works out, or the devs are successful in integrating BTC with POS systems, then BTC could rule the crypto universe so to speak, and coins like LTC/DASH/etc. would be in choppy waters.
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May 02, 2018, 09:14:01 PM
 #209

According to the assumption in bitcoin forums, the future of bitcoin will be bad, because eventually the world community will realize that:

Cryptocurrency is not just one course that is BTC with a total supply of a Million BTC

It turns out there are so many Cryptocurrency and still create new crypto2 with a very large supply, even hundreds of millions for each cryptocurrency.

The current booming price is because whales speculate about prices with incredible amounts of money.

The problem of transaction time that there is no perfect way out.
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May 02, 2018, 11:15:27 PM
 #210

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.
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May 02, 2018, 11:17:46 PM
 #211

It's possible actually; ETH is capable of doing that in future, I believe.

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May 03, 2018, 07:12:35 AM
 #212

Bitcoin can be easily become outdated by another cryptocurrency in the future because the people are keep on creating their own and it is like a contest because the people are keep on creating the better and better cryptocurrency which is becoming a bigger threat and that will give the chance for bitcoin to experience some loss in users and it will continue until bitcoin became outdated totally.

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May 03, 2018, 07:28:37 AM
 #213

Now, it's pretty hard to beat Bitcoin as a top tier crypto currency. Since it way older than other coins, and well established and not as stable as other coins. But then again, we don't know what will happen in the future. Maybe Ethereum is front runner since it is more accepted and more and more people transact with Ethereum. Even exchanges rely in Ethereum to buy bitcoin.

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May 03, 2018, 08:26:02 AM
 #214

There are really a lot of coins in the market, among which there are very prospective ones, but at the moment it is difficult to imagine that any of these coins, or which will come out in the future, can outstrip or be better than bitcoin. But as everything will be in reality - only time will show.


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May 03, 2018, 09:53:43 AM
 #215

I consider that bitcoin can be replaced by any other crypto currency in the far future but now there are no reasons for bitcoin not to be the top currency.
Lyne01
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May 03, 2018, 09:56:39 AM
 #216

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.

Bitcoin will stay and will always be on top. The idea of bitcoin is very simple, profit. Bitcoin has been a great help in terms of investment and as an asset. Many people have been embracing bitcoin because of its ability of easier transaction, bigger profit and privacy thing.

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May 03, 2018, 10:13:56 AM
 #217

we cant say for now, probably because its the first crptocurrency and no other currency for now has been able to meet up with the way sellers and buyers demand for bitcoin. All i can say is the future is brighter and anything just anything can happen.
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May 03, 2018, 10:22:35 AM
 #218

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.
We still cannot assure that thing if Bitcoin can be outdated or not by other existing currencies because we are all living in same place where change is inevitable so as possibilities are just open to come and happen with the presence of this changes that contributes or become the main factor why a single thing happens. We can never tell if it is possible that one day, Bitcoin will be surpassed by other existing currencies or not but we must keep on our minds that no matter what happen, we just keep on supporting what we think is the best for us. But do not think it negatively that Bitcoin can be outdated by other currencies right now because currently, it is on its peak so it is impossible for me right now.

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May 03, 2018, 11:27:19 AM
 #219

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.

I would not necessarily disagree but just like when Bitcoin came around and was made popular basically from nothing I am open that another solution might arrive as well. Saying that Bitcoin will be the leading crypto forever is just like everyone is saying about the dollar and before that the sterling pound... Does that mean that you should not buy Bitcoin? Of course not I think you should because in the near term (5 years) it will have an important role to play! With that said, It might be Bitcoin that triumphs over all others but it might be some other crypto... no one can predict the future...
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May 03, 2018, 01:41:23 PM
 #220

So how can we call it one of the most powerful payment currencies if you cannot actually purchase any everyday commodities using that?

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