Why hasn't any altcoin replaced bitcoin?

[Jating]

It's already 10 years, and we haven't seen anything close to even challenge bitcoin's dominance in crypto universe. It is the gold standard of crypto so I doubt that any altcoin in existence can do much damage to it. How can someone replace it when all trading pairs is BTC/XXX?

It is still the most recognised crypto as of today and I have no doubt that it will stay as the most influential coin in the next 10 years and no altcoin can come close to it.

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[kryptqnick]

It's a good question, and I've been asking myself that as well. Honestly, I don't know the answer, and some of the important points were already mentioned by others (such as a small period of time it all exists and way more media coverage for Bitcoin than for anything else). But I'd like to mention two other possible reasons. One of them is that altcoins are not that much of improvement in comparison with Bitcoin to be worthy of taking over the king's place. Another one is while alts can be interesting ideas to offer, the Bitcoin dev team is the strongest, offering the best protection they can, and people thus trust it more than altcoins (which can be great in theory but buggy in practice).

[cheezcarls]

It's simple. You can't replace the king of all cryptocurrencies, Bitcoin itself. If you take a look at the difference of its market cap to Ethereum and Ripple, it cannot be overtaken.

If you notice since after April Fools Day, Bitcoin started to spike as much as almost $14k before it stabilizes around $9.9k to $10.1k. As for Ethereum and others, it only had little impact. It is because altcoin has not started yet, as we are still experiencing the dominance of Bitcoin. Financial institutions gearing up for Bitcoin and the announcement of Facebook's Libra Coin made that huge difference, as it adopts massively compare to any other coins or tokens in the planet.

I am not expecting for altcoins to have their own season anytime soon, but I believe they'll have their turn later on.

[Indamuck]

Altcoins have served some niche roles that Bitcoin can't fill.  Bitcoin isn't anonymous like privacy coins so most dark web users have moved over t privacy coins.  Also bitcoin fees can be quite high so people like to use altcoins to move funds from one exchange to another.

[ahmadakbari]

Altcoins have served some niche roles that Bitcoin can't fill.  Bitcoin isn't anonymous like privacy coins so most dark web users have moved over t privacy coins.  Also bitcoin fees can be quite high so people like to use altcoins to move funds from one exchange to another.

As you have mentioned some advantages of altcoins over bitcoin, does it mean that you think an altcoin will finally replace bitcoin?
Bitcoin transaction fees have been decreased very much. Exchanges get much more fees than they pay for transactions confirmations.
I also don't think that we need more anonymity that bitcoin is providing for us, unless we want to pay for something illegal.

[Kasabus]

Altcoins have served some niche roles that Bitcoin can't fill.  Bitcoin isn't anonymous like privacy coins so most dark web users have moved over t privacy coins.  Also bitcoin fees can be quite high so people like to use altcoins to move funds from one exchange to another.

It makes some change and Bitcoin does it pretty early. Considering the increase of fees to transact Bitcoin, it is something disgusting and can lead a way to convert into altcoins to save some. But not a reason we think that any altcoin could replace Bitcoin in the future, even the fees is too high but still a lot of investors and market adopters are true to this coin in the way that it is more profitable than of altcoins.

[nightxglow]

I think it's just normal because bitcoin is the first one, and in this cryptocurrency world, bitcoin is the most well known coin than other coins. Many people don't even know what altcoin is, but they mostly know about bitcoin. This shows bitcoin is more popular, and has more users and people interested in. Bitcoin value becomes higher and higher since the popularity is rising and the demand also increasing. But other altcoin is not like that. Maybe they're popular and hyped at first, but it usually don't last long. Bitcoin is still the number one. So i think people don't really have any interest in altcoin as long as there's bitcoin that's better and more valuable for them.

[yoseph]

Altcoins have served some niche roles that Bitcoin can't fill.  Bitcoin isn't anonymous like privacy coins so most dark web users have moved over t privacy coins.  Also bitcoin fees can be quite high so people like to use altcoins to move funds from one exchange to another.

Most people like to use Monero because of it's high anonymity but aside that, they have nothing more to offer when compared to Bitcoin, after the hard fork of 2017 Bitcoin Cash was supposed to be a major threat to Bitcoins due to it's large block size and that it would make transaction faster and even cheaper. Major crypto people like Roger Ver even claimed that Bitcoin Cash was the real bitcoin but it all came to nought.

[xvids]

I think because BTC is the first successful crypto currency and it is the most trusted .
It is the center of crypto most of the people rely on it when it comes to converting their crypto into cash and most of the new one in crypto only trust or hold BTC.

[matchi2011]

Although there are a lot of altcoin arising even with more updated features than bitcoin, bitcoin still remain the strongest because bitcoin already has the trust of people who strongly believe what bitcoin can do and I think that's the reason why bitcoin survived a decade.

That's still count, people trust made Bitcoin the top crypto currency around the market, even there's a lots of new projects that been introduced and Making it's name and really working out fine but in the end of the day Bitcoin will still gather more interest and support from investors and traders who knows how to play well inside market, it's all about support and trust from the end users.

[peter0425]

...
What do you think?

I never like to speak for sure, but it's not easy for any altcoin to pass Bitcoin. Bitcoin is not just a crypto currency. It's also a mission. Therefore, it should promise a greater future for an altcoin to cross the BTC.

Promises won make any altcoin greater than Bitcoin because they must need to prove their words by action just like what bitcoin did 10 years or more now
And what I do believe is Bitcoin cannot be surpassed by any of altcoin today and until the future,from the very beginning never in any coins comes close to the capitalization of this Great coin and unto now Bitcoin proves the dominance and will be till then.
Anyway it’s better not to expect nor even asks for that to happen because it will not for sure

[Slow death]

I think bitcoin has been one of the biggest innovations of the human in the past years. Many altcoins have been created after bitcoin. But none of  them have been successful as bitcoin is. Why is that?
Why no altcoin can replace bticoin?

Bitcoin was created by an anonymous person, this person made people feel that each one of them can contribute and make the currency better, people feel safe because there is no one (currency creator) who will be constantly on twitter making updates of currency development news to induce pump and dump.

Look at the altcoins, if altcoin Z creates something new, days later dozens of altcoins appear that will copy altcoin Z. so it's easy for you to imagine that things like this don't end well

[ene1980]

I think bitcoin has been one of the biggest innovations of the human in the past years. Many altcoins have been created after bitcoin. But none of  them have been successful as bitcoin is. Why is that?

Is there any alt coin that is not copied from bitcoin, there are coins with added privacy but the core is still taken from bitcoin and we are yet to see what the government will do with all these privacy coins when they enforce regulation in the market and i guess they will force the exchanges to remove the privacy coins if they want to be regulated.

Why no altcoin can replace bticoin?
Every new thing and every technology is usually replaced by a newer one as the world is always developing.

If the developers could come together and come up with solutions rather than having different factions then no coin can replace bitcoin. The truth is we do not want many decentralized coins to trade world wide, we just need bitcoin, if everyone comes up with their own currency then what is the point of this revolution.

[Vishnu.Reang]

Even for 3rd generation cryptocurrencies, the basic concepts are the same as that of Bitcoin, such as having a controlled supply system, transactions stored in Blockchain, generating new coins through mining (either PoW or PoS).etc. Unless we get a drastically different coin that can challenge the supremacy of Bitcoin, don't even think that BTC will be overtaken or surpassed.

[GlobalProtection]

One of the reasons, is because Bitcoin had first mover advantage and people are too lazy to see there are coins with superior technology.

After Interpol sees that Bitcoin is dismantled, the alt coins will shine later on after the market recovers.

I hope no coin ever takes the place of Bitcoin and that people become smart enough to buy each coin based on the value of that coin itself.

Buying alt coins only when Bitcoin is doing well is the stupidest thing I have ever witnessed in my life and many people are trading that way.

http://txti.es/bitcoin-and-clones-in-danger

[virasog]

In my opinion, it's all about the belief, yeah people trust against Bitcoin is higher than all altcoins, although many altcoins are present with various sophisticated latest innovations but the people still keep their high confidence against Bitcoin.  

Bitcoin is the first crypto currency and therefore people have more trust in it. Also the bitcoin quantity is less and limited and therefore its demand and price will increase.

I think bitcoin has been one of the biggest innovations of the human in the past years. Many altcoins have been created after bitcoin. But none of  them have been successful as bitcoin is. Why is that?
Why no altcoin can replace bticoin?
Every new thing and every technology is usually replaced by a newer one as the world is always developing.

The first television built was mechanical, then electronic television were invented, then colour televisions, digital, 3D, ....
The first automobiles invented were steam-powered wheeled vehicles, then electric automobiles appeared. Now we have autonomous cars. Now we have Tesla model S. Now we have Lamborghini.
All of us know about the developments made in mobile phones.

Every thing is being developed. Every device is finally replaced by a newer one. Why no altcoin has replaced bitcoin till now? Do you think it will happen in future?
I personally think people will trust what Satoshi has created more than altcoins till many years later.
Altcoins are created to make the developers rich. But bitcoin is different. Bitcoin was created in favor of us. So, no altcoin can be trusted as bitcoin.

What do you think?

I think cryptocurrency is different from devices specially in terms of development. So,we can't compare it to bitcoin and altcoins. There is no Altcoin replaced to bitcoin because of the demand and supply. Bitcoin has a limited supply compared to Altcoins and people trusted already the number one cryptocurrency in crypto world. It means bitcoin has a higher demand with lower supply that Altcoins and even until now bitcoin demands keep on increasing.

Many altcoins are made with the purpose of making money. Bitcoin, on the other hand is the only crypto which is widely used in buying and selling.
Only bitcoin has the capability to replace the fiat. Even eth and ripple are unable to come even close to bitcoin.

[Juggy777]

I think bitcoin has been one of the biggest innovations of the human in the past years. Many altcoins have been created after bitcoin. But none of  them have been successful as bitcoin is. Why is that?
Why no altcoin can replace bticoin?
Every new thing and every technology is usually replaced by a newer one as the world is always developing.

The first television built was mechanical, then electronic television were invented, then colour televisions, digital, 3D, ....
The first automobiles invented were steam-powered wheeled vehicles, then electric automobiles appeared. Now we have autonomous cars. Now we have Tesla model S. Now we have Lamborghini.
All of us know about the developments made in mobile phones.

Every thing is being developed. Every device is finally replaced by a newer one. Why no altcoin has replaced bitcoin till now? Do you think it will happen in future?
I personally think people will trust what Satoshi has created more than altcoins till many years later.
Altcoins are created to make the developers rich. But bitcoin is different. Bitcoin was created in favor of us. So, no altcoin can be trusted as bitcoin.

What do you think?

@Rozita Bitcoin is the original crypto rest are alts hence the public has never taken them seriously, and many of them are difficult to liquidate e.g. bitcoin cash. Another reason is people are not aware of other crypto’s as most of them have only heard of bitcoins. Also the Alt coin industry has had many scams relating to ICO’s which has dented investors confidence in them, and when they invest in bitcoins they feel secured despite it’s volatile nature.

[coin-investor]

I think bitcoin has been one of the biggest innovations of the human in the past years. Many altcoins have been created after bitcoin. But none of  them have been successful as bitcoin is. Why is that?
Why no altcoin can replace bticoin?
Every new thing and every technology is usually replaced by a newer one as the world is always developing.

The first television built was mechanical, then electronic television were invented, then colour televisions, digital, 3D, ....
The first automobiles invented were steam-powered wheeled vehicles, then electric automobiles appeared. Now we have autonomous cars. Now we have Tesla model S. Now we have Lamborghini.
All of us know about the developments made in mobile phones.

Every thing is being developed. Every device is finally replaced by a newer one. Why no altcoin has replaced bitcoin till now? Do you think it will happen in future?
I personally think people will trust what Satoshi has created more than altcoins till many years later.
Altcoins are created to make the developers rich. But bitcoin is different. Bitcoin was created in favor of us. So, no altcoin can be trusted as bitcoin.

What do you think?

I believe that if Cryptocurrency will be widely adopted, Bitcoin should be the frontrunner of adoption, because Bitcoin has all the fundamentals of Cryptocurrency, all who will get into Cryptocurrency should first understand Bitcoin and how it started.

There is no shortcut for this, we should not correlate Cryptocurrency to other technology they are very much different.
You are right when you said that these clone coins are created to make the company rich, Bitcoin is for us and was created for us.

[suvo05]

Because firstly, Bitcoin has been on the market for 10 years.  Secondly, this is the first coin and no one was able to do something better than bitcoin.  It is decentralized and transparent, I think that this is the best that it has.

Yes because of such long period BTC has been adopted much more than any other coin. And when someone talks about crypto-currency then the first name comes into the mind is BTC. Though I am not agreed with your second point, all other coins were created after the creation of BTC so they are supposed to be advanced in technology than the bitcoin. But trust and popularity is the main factor in which BTC is leading in huge margin.

[thesmallgod]

The same reason why so many ecurrencies have not displaced PayPal since. The answer is simple. Many people use bitcoin and trust bitcoin more than any other crypto. In fact the price of most altcoin are traded and lock to BTC as you can see in many exchange platform. Bitcoin as the oldest crypto, has the potential of being used as total and can easily be compare to a legal tender. Many altcoin cannot be use other than what it is being created for