Will Bitcoin Adopt New coins ?

[rufio90210]

Hi,

So Bitcoin has issues like speed of transactions and energy consumption.

As there is no 'team' behind bitcoin, how is it going to develop and make sure it is always competing with newer coins?

There are alot of coins resolving these issues and people are buying into them, but why if bitcoin is considered No. 1 ? Is there a possiblity the  new coins could be linked with bitcoin or that  future bitcoin 'integrates with them and  their technology which therfore increases their prices?

Trying to understand this universe!

Thanks in advance

L

[1715122453]

1715122453

[1715122453]

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[TryNinja]

As there is no 'team' behind bitcoin, how is it going to develop and make sure it is always competing with newer coins?

There is no official team because no one owns or control Bitcoin. But there are groups (like the Core team that maintains the Bitcoin Core software) that "work on Bitcoin" and suggest/implement new features on it.

For example, SegWit was implemented on Bitcoin 2 years ago, suggested by some Core devs: https://github.com/bitcoin/bips/blob/master/bip-0141.mediawiki

Is there a possiblity the  new coins could be linked with bitcoin or that  future bitcoin 'integrates with them and  their technology which therfore increases their prices?

What exactly do you mean with "linked"? I would say it's unlikely, while possible in a technical way.

[Payme21]

I don't see bitcoin merging with an alternative coin but as they will improve their blockchain to make it faster and consume less energy

[jackg]

I'd suggest you take a look at and maybe try to test the lightning network of bitcoin to see how it works as it means you can send a transaction that confirms in a second...

We also have omni which afaik is the smart contract solution for bitcoins blockchain.

[timerland]

Bitcoin has no team or owner for a good reason. It's meant to be a decentralized coin that goes against the banks and government's way of thinking and if there was someone who owned and was able to control the technology, it'll be no longer be decentralized.

There are multiple core BTC developers though that work on Bitcoin Core, and they help implement new technology and ideas into the system, with the latest change being the lightning network.

I don't see bitcoin merging with an alternative coin but as they will improve their blockchain to make it faster and consume less energy

Yes. I agree. BTC will never merge or form with another coin, especially if it is a centralized coin because a lot of the developers won't agree and implement the new technology.

[chaoscoinz]

Hi,

So Bitcoin has issues like speed of transactions and energy consumption.

As there is no 'team' behind bitcoin, how is it going to develop and make sure it is always competing with newer coins?

There are alot of coins resolving these issues and people are buying into them, but why if bitcoin is considered No. 1 ? Is there a possiblity the  new coins could be linked with bitcoin or that  future bitcoin 'integrates with them and  their technology which therfore increases their prices?

Trying to understand this universe!

Thanks in advance

L

   Bitcoin is an open-source code project, while there isn't any centralized authority behind it, there are many contributors who help maintain the project so it can be up to date and functional. Bitcoin is number one because it is the foundation of the whole scene. It was Satoshi Nakamoto's proof of concept for demonstrating the blockchain use case. Bitcoin is the pillar that all other cryptocoins of today cast their molds from (hence, why the whole project is open-source to begin with) It is the prototypical cryptocurrency being the first of its generation, Ethereum being a second with the introduction of the smart contracts.
   the real beauty behind everything is the unity that brings all walks of life together in this digital age.
  

[rodel caling]

Hi,

So Bitcoin has issues like speed of transactions and energy consumption.

As there is no 'team' behind bitcoin, how is it going to develop and make sure it is always competing with newer coins?

There are alot of coins resolving these issues and people are buying into them, but why if bitcoin is considered No. 1 ? Is there a possiblity the  new coins could be linked with bitcoin or that  future bitcoin 'integrates with them and  their technology which therfore increases their prices?

Trying to understand this universe!

Thanks in advance

L

I believe all have an solution and for me energy comsuption isn't an issue as long as bitcoin transaction functions in good condition and give fast service transfer funds. About new to be link in bitcoin we can use local bitcoin as alternative use for local transactions but im not sure the good effect for this suggestion.

[omone1]

Bitcoin has a team but no owner. The team of dedicated miners and programmers are helping the bitcoin ecosystem. No other coins whether old, new or in the future can take over bitcoin. As for the speed of bitcoin transaction, works have been done in this area and more work are been done.

[boyptc]

Why is it that bitcoin's confirmation time is still a problem to others? I don't find it slower these days and in fact the speed has improved a lot.

[pooya87]

competing with newer coins?
There are alot of coins resolving these issues ,

no, not a single coin exists that has resolved any issue without creating a dozen new ones. for example they "increase speed" or more precisely decrease the time between blocks but that increases the orphan rate and decreases the security. they increase the block size and that increases centralization, propagation time, resource consumption,...

and people are buying into them

well don't confuse speculators "temporarily" buying a pump and dump coin with real "adoption".

but why if bitcoin is considered No. 1 ? Is there a possiblity the  new coins could be linked with bitcoin or that  future bitcoin 'integrates with them and  their technology which therfore increases their prices?

no bitcoin is standalone and will not "link" to any other coin.

[Thirdspace]

As there is no 'team' behind bitcoin, how is it going to develop and make sure it is always competing with newer coins?

we have core developer team and a few contributors supporting "Bitcoin"
any new implementation will have to go through and approved by user consensus

There are alot of coins resolving these issues and people are buying into them

what issues do other coins solved?
if it is good solution without side effects, bitcoin will adopt it with (of course) network consensus
and people buying those altcoins are usually for profit taking purposes
if one of those altcoins is really superior than bitcoin, then it would have taken #1 spot in crypto world

[Jet Cash]

Bitcoin is unique, and there will never be another equivalent coin - the resistance to 51% attack possibilities ensure that. Because of this, it doesn't have to compete with anything, and the 10 minute block generation average is an advantage, and not a disadvantage.

[akela11]

As a possible improvement in Bitcoin, I always liked Lighting Network. However, when it will be implemented is 100% unknown

[Slow death]

So Bitcoin has issues like speed of transactions and energy consumption.

this is a subject that has been discussed many times and for years, I see no reason to talk about it

As there is no 'team' behind bitcoin, how is it going to develop and make sure it is always competing with newer coins?

In addition to what people have already answered, have you ever seen any altcoin have the same success bitcoin has? it's not bitcoin that is competing with altcoins, it's the altcoins that are competing with bitcoin

There are alot of coins resolving these issues and people are buying into them, but why if bitcoin is considered No. 1 ? Is there a possiblity the  new coins could be linked with bitcoin or that  future bitcoin 'integrates with them and  their technology which therfore increases their prices?

there are many shitcoins, meaningless projects

[NeuroticFish]

There are alot of coins resolving these issues and people are buying into them, but why if bitcoin is considered No. 1 ? Is there a possiblity the  new coins could be linked with bitcoin or that  future bitcoin 'integrates with them and  their technology which therfore increases their prices?

Bitcoin is #1 because it has the strongest blockchain behind it. Many of those "alot of coins" would fail if they would become used and valuable. But as they are now, they can be testing ground for this or that.
Bitcoin will not integrate other coins, but can take ideas from them (if they are indeed super great and useful).

Other coins' prices will increase only if those coins will become stable, useful, more mature.

[MonsterV]

Most people don't realize that Bitcoin is #1. Why aren't they aware? because they don't have bitcoin from the start, they only focus on coins that they think are quite good from bitcoin but see if the coins they think will be there if bitcoin isn't the first.

Bitcoin is 10 years old and new coins have emerged for the past 10 years. But look, is there a coin that is integrated with bitcoin, even though the coin is considered better than bitcoin. Well the answer is no, because bitcoin will remain the first and the nature of each coin is unique

[rufio90210]

Its great that Bitcoin can evolve and adapt then and remain decentralized!

So my question is why are people bothering to buy alt coins that currently are more energy efficient and faster transactions if Bitcoin will eventually implement these ideas and remain the true currency?

Coins like ZCOIN with their minting , and POS coins that dont rely on mining. If bitcoin will eventually implement the best ideas why are people buying? Does their value go up if bitcoin integrates their tech?

[adeandro]

Why do you need a new bitcoin if you have an old bitcoin? Isn't that enough for you? We haven't learned enough about what we have before embarking on something new

[kryptqnick]

competing with newer coins?
There are alot of coins resolving these issues ,

no, not a single coin exists that has resolved any issue without creating a dozen new ones. for example they "increase speed" or more precisely decrease the time between blocks but that increases the orphan rate and decreases the security. they increase the block size and that increases centralization, propagation time, resource consumption,...

It's true that it's more or less about balancing advantages and disadvantages when it comes to solving issues like scalability. However, IMO DAG is unfairly overlooked by the crypto-community. Sure, it's not without its own problems like serious centralization issues at early stages, and many bugs (the latter could be solved by more well-skilled people working on it, I guess). But it's better from the long-term perspective, because the hardest stuff is at the beginning, and as the community grows, the fees, speed and centralization issues disappear. I still hope IOTA will get its deserved attention someday.

[rufio90210]

Its great that Bitcoin can evolve and adapt then and remain decentralized!

So my question is why are people bothering to buy alt coins that currently are more energy efficient and faster transactions if Bitcoin will eventually implement these ideas and remain the true currency?

Coins like ZCOIN with their minting , and POS coins that dont rely on mining. If bitcoin will eventually implement the best ideas why are people buying? Does their value go up if bitcoin integrates their tech?