Would Bitcoin become irrelevant or remain the King?

[project_delta]

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

[pooya87]

bitcoin has problems but it still is a damn good decentralized currency. in other words the benefits and positive sides of bitcoin are a lot more than the problems. that means any problem (which are small ones by the way) are acceptable. as a result bitcoin will remain useful and "relevant".

as for alternatives, so far we have not seen anything that can come close to be useful. they are improving indeed but their problems are much bigger that in their case the problems overshadow the benefits.

[YOSHIE]

What if they reach their goals and bitcoin become irrelevant?
The price drop isn't showing that great either!

It has become a risk for the Bitcoin user himself if the price of Bitcoin remains the current price, and people buy at high prices.
But I am sure Bitcoin is the most popular digital currency in the world today and I see every move of the Bitcoin in the price of other coins also moving and vice versa,
well for that I think Bitcoin will not die and continue to prosper all the time waiting for time. positive thinking and focus on investing better.

[Tamilson]

You've already said that you're a big fan, so in short you knew all the important nor the risk of having it, and if the price make you worried then your losing the process.
Every coin has its own problem and bitcoin as an innovative one  so problem will surely occur every now and then. What's happening now is just pure manipulation in which whales are accumulating.

Having $4k for its bottom is actually a perfect time to buy.

[oppasong]

bitcoin does not mean that it is not risky, but basically bitcoin is decentralized so what happens now with the price of bitcoin is decreasing every time everyone thinks that bitcoin is not useful but we have to look positively about the crypto world.

[Jating]

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

I think if you're going to look at the previous bearish market, its a lot worst than what we are seeing and yet people didn't abandon bitcoin but they just HODL on it and I'm sure many of them make tons of money in 2017.

If I'm in your shoes, I wouldn't look at the downside as something negative, but take the opportunity to accumulate at this very moment and let your bitcoin sits on your hardware wallet or in your Bitcoin core or Electrum and wait in 2019-2020 and see how your investment goes.

[Wind_FURY]

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.

"More and more people are trying to perfect their algorithms"? Who are those "people" and what cryptocurrencies are they "perfecting"?

What if they reach their goals and bitcoin becomes irrelevant?

But Bitcoin has reached its goals and it is reaching more. Most of "them" will never reach their goals. Do you believe Ethereum will be the "world computer"?

Bitcoin is an open, secure, censorship-resistant store of value, and it is provably scarce. It also gives its users the ability to private key ownership, which is an inviolable "property right". More inviolable than stocks, real estate, and gold.

It will always have value.

The price drop isn't showing that great either!

But what was Bitcoin's price 7 years ago?

[Kakmakr]

First of all, Bitcoin is not defined by it's price. Secondly, Bitcoin is programmable code and it can be changed with the changing demands of the people. We saw that Bitcoin had some scaling issues and the developers added code to address that issue. <Lightning Network>

So whatever other people can do, we can do better with a team of highly skilled developers. Bitcoin is the mother of all coins and people should respect that. They would not even exist, if it was not for this ground breaking technology.  

[Kemarit]

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

As others have explained, it has flawed but there's this so called solution - Lightning Network. I advise you to read all about it. When you say bitcoin becomes irrelevant what are your basis? The price? Like going to 0? Or people finding other coins to used either as payment method or SoV (store of value)?

I'm assuming that you're looking at the price for you basis if so then bitcoin would be still be relevant because there's no other coin that even get close to what the price of bitcoin has reached so far. On the contrary it might just be the beginning, the price drop that we witnessed in the past week might be a good indication that the bullish cycle might come to an end and 2019-2020 will the year when the bulls started to get control of the ecosystem again.

[kelvinspeed]

You've already said that you're a big fan, so in short you knew all the important nor the risk of having it, and if the price make you worried then your losing the process.
Every coin has its own problem and bitcoin as an innovative one  so problem will surely occur every now and then. What's happening now is just pure manipulation in which whales are accumulating.

Having $4k for its bottom is actually a perfect time to buy.

Exactly because every useful coin must be tasted to know it's strength n value n one such method is economical push n pull on a coin, I also believe that much work n acceptance on bitcoin wont allow it to crash or become irrelevant

[Pursuer]

the big question that nobody asked you is that what makes you think that these altcoins don't have problems?

your argument is basically saying that bitcoin has problems so it can become irrelevant because of some altcoin. but you are forgetting that this altcoins that you have in mind also have problems and actually that is why they have been irrelevant all these years despite all the huge trading volume that goes in to them to pump  and dump them.

[OgNasty]

the big question that nobody asked you is that what makes you think that these altcoins don't have problems?

your argument is basically saying that bitcoin has problems so it can become irrelevant because of some altcoin. but you are forgetting that this altcoins that you have in mind also have problems and actually that is why they have been irrelevant all these years despite all the huge trading volume that goes in to them to pump  and dump them.

Ya, most people don’t realize that a vast majority of altcoins don’t scale well. If they were as widely used as Bitcoin, there’s no telling what issues would pop up. I’d point to Ethereum which became bloated and unusable because of some virtual cat trading. Bitcoin is King for a reason.

[munareal]

Bitcoin can never become irrelevant ad challenges are bound to happen. Bitcoin is facing a downtime and will soon rise again. It will ever be the king of cryptocurrencies because it set the space other coins follows.

[Wind_FURY]

the big question that nobody asked you is that what makes you think that these altcoins don't have problems?

your argument is basically saying that bitcoin has problems so it can become irrelevant because of some altcoin. but you are forgetting that this altcoins that you have in mind also have problems and actually that is why they have been irrelevant all these years despite all the huge trading volume that goes in to them to pump  and dump them.

Ya, most people don’t realize that a vast majority of altcoins don’t scale well. If they were as widely used as Bitcoin, there’s no telling what issues would pop up. I’d point to Ethereum which became bloated and unusable because of some virtual cat trading. Bitcoin is King for a reason.

Plus "blockchains" are a slow database, and will not scale on-chain without centralizing the network. The developers who propose on-chain scaling solutions like "sharding" might be, scamming, lost, or have not accepted reality yet.

Give them time.

[Stac]

Bitcoin never become irrelevant though the current market  price is going little down it will recover shortly to its full strength. Bitcoin
is an electronic asset with a strong net work systems connected with the modern technology...Bitcoins features are very attractive to the global investors and it is a decentralized one with anonymity.Its all transactions are recorded in an electronic ledger with the block chain technology..The introduction of the block chain technology is ensuring its clarity and the security systems in order. The invention of he bitcoin is an outstanding one in this century which can change the entire face of the global economy.which is  introducing a new form of economy which is contrary to the  present economical concepts.  The bitcoin originators intention is to provide a strong common currency to the to the global community which can be operated world wide  for their daily requirements.. The introduction of bitcoin is quiet relevant. to the global market which can emerge and remain as a king very shortly when the market is turning to a bullish move.

[Corsicoin]

Btc will remain the king because it's associated with freedom.
It's not illegal because it depends on what you do with your money!
If you hold bitcoins in your wallet you don't give a shit about people saying it's illegal ^^
Nobody will ever know you own those BTC !

[blocklancer8]

By becoming a big fan of bitcoin, of course you really understand the existence of bitcoin, both advantages and disadvantages that can arise at any time in bitcoin. In the process, bitcoin is still quite early, but until now it remains an independent digital currency. In the adoption stage, there are certainly problems faced and I am sure this will remain relevant at any time.

[M.Jukey]

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

According to me BTC is a good decentralized currency..
It still has some little problems but they are not so big to be stopping and not so big to make BTC not relevant.

Moreover, what about altcoins ? They are still in alpha and they are not ready to be really useful (not more than btc)...

low cap and speculation..

[bitfocus]

Bitcoin is the only real crypto, well you can cound on Ethereum, too, but please don't compare them with any alts.

[jrrsparkles]

So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!

If you see that the price of other coins were more when compared with the price of bitcoin which is a sign that bitcoin is still king at this long bearish run.Most of the projects were just copying the idea of already existing coins so which may not bring anything new here even if some coins were created it will not be so easy to get recognized as bitcoin and taking its crown.