Why hasn't any altcoin replaced bitcoin?

[gentlemand]

Every new thing and every technology is usually replaced by a newer one as the world is always developing.

It's money based on technology. Money is the prime factor. Technology takes a far back seat in comparison and most of the alt technology out there is completely untested in the real world.

Replacing your TV has no bearing on your life. You get rid of the old one and get a nicer one.

Replacing your money has the potential for you to lose all of your value if you make the wrong bet. You're going to be vastly more inclined to stay put.

This is something altcoiners consistently fail to comprehend. A 1 second block time or 'partnerships' count for fuck all when it comes to money. You need to be able to depend on it which means security, trust and network effect.

They should be free to noodle away. They should not toss their cookies if no one else is remotely interested in moving their money into them.

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[Herry Toms]

I think there is one reason why altcoins are failed to replace bitcoin is price, Not altcoin is close in price with BTC, there is a huge gap in price, vol, cap in BTC and other altcoins prices. Bitcoin price is more attractive than other this is the reason why it is on the top to all other coins.

[phamminhtan]

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?

Almost all altcoins are developed according to the founder's vision, and above all altcoins are developed on Bitcoin's blockchain, altcoins are subject to government oversight, and Bitcoin does not I think those This creates value that no altcoin can replace.

[shield132]

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?

Why no other metal was able to replace silver and gold for payment?
Why nothing could change paper money for decades?
Everything needs time, currently Bitcoin is mainstream despite the fact that we can find some other altcoins better and more developed than it but currently it is what it is. Time will pass and possibly bitcoin will be changed or bitcoin will be modified and will be leader again.

[arshsingdeep]

Bitcoin is first blockchain innovation and it can not replaced by any altcoins because Bitcoin is father of all altcoins & dominance 70% market share. 
While on the other hand, all altcoins follow the footsteps of Bitcoin & made for earning money.
The second most popular ethereum capture only 6-7% of market. Then how we can think that any altcoin will replace Bitcoin.

[SirLancelot]

altcoin was developed not to be a competitor or to replace bitcoin, they were developed to run their product ecosystem. even if they are successful with their ecosystem, they will still not be able to get rid of bitcoin as the king of cryptocurrencies.
they (altcoin) still won't beat the user's trust in bitcoin which has been built so far.

Great mate, and I didn’t know why people always try to crate unnecessary competition by comparing and this is still part of why government initially fought cryptocurrency because we have many people here who lack the understanding and making the government feel threatened of cryptocurrency because of the comparison that many people are doing as regards fiat to cryptocurrency and making it look like the system was created to remove power from government.

The crypto idea by the real satoshi is for it to supplement fiat, it is meant to be an alternative means of payment to fiat before we started taking it more as investment scheme, so same as altcoins, they are just to be an alternative system running on their own technology without competing with bitcoin.

[Abiky]

It might happen someday, people used to think Myspace was the best and then Facebook overtook it.  Bitcoin has become super dominant but so have many other companies in the past and then they end up losing market share.  Also don't forget that bitcoin had a couple inflation bugs in the past.

That's certainly true, mate. The same way Facebook replaced Myspace, the same situation could happen within crypto land. Bitcoin has been the most prominent cryptocurrency for a very long time, yet being extremely limited in transaction capacity. There are now several altcoins with greater scalability and features which prove to be tempting towards people in the mainstream world. With their superior design, they could take down Bitcoin at any point in time. While this is true, most altcoins (if not all) lack the most important thing for long-term success. And that is mainstream adoption.

In this regard, Bitcoin is still in the lead with first-mover advantage within the crypto market. It'll be quite difficult to take down its place as the world's largest crypto by market cap, because of its strong branding and mainstream recognition. Not even Ethereum has been capable of overcoming Bitcoin, despite being superior in every way. Every day, Bitcoin's market cap increases by a large margin greatly minimizing altcoin's chances of surpassing the pioneer cryptocurrency within the future. If you take a good look at today's market, you'll notice that ETH's market cap is far behind Bitcoin's. Which is why, I believe that no altcoin will be able to replace Bitcoin in the near future.

Nonetheless, the only way an altcoin could replace Bitcoin is if the same gains massive traction within the mainstream world. It needs proper marketing/promotion, and mainstream usage in other to establish itself as a true contender of Bitcoin. Even so, it would need to prove its security and stability as a cryptocurrency for daily transactions that's proven to be better than Bitcoin itself. Considering that most altcoins are efficient but not as secure as Bitcoin is, it'll take a long time before we'll be able to experience a true contender that will challenge Bitcoin's place as the world's largest cryptocurrency by market cap. Just my opinion

[gentlemand]

That's certainly true, mate. The same way Facebook replaced Myspace, the same situation could happen within crypto land. Bitcoin has been the most prominent cryptocurrency for a very long time, yet being extremely limited in transaction capacity. There are now several altcoins with greater scalability and features which prove to be tempting towards people in the mainstream world. With their superior design, they could take down Bitcoin at any point in time.

Boy do I wish this one was taken out and shot in the head.

Nobody had anything to lose by switching to Facebook. It was a few clicks. The potential to lose everything by 'switching' to an alt is very real. No one's going to leap first. They will stay and work on making BTC good enough.
 

[johnwhitestar]

All the technological innovation you mentioned had a purpose and was widely used by people.
The purpose of BTC is not clear and it's used by a very small group of individuals, so it's difficult improve something that's is difficult to explain what it's useful for.    

[Finestream]

Bitcoin is first blockchain innovation and it can not replaced by any altcoins because Bitcoin is father of all altcoins & dominance 70% market share. 
While on the other hand, all altcoins follow the footsteps of Bitcoin & made for earning money.
The second most popular ethereum capture only 6-7% of market. Then how we can think that any altcoin will replace Bitcoin.

With the positive things you said about bitcoin, there's no need for people to switch into another coin or even altcoins just to satisy them because bitcoin alone is already very beneficial to them. The popularity of bitcoin even at the present time will always on top and will never be outdated with altcoins so they cannot surely replace bitcoin from its position because bitcoin will always be the king of crypto and will always have the biggest trust from the people compared to altcoins.

[Abiky]

I think the fact is that none of the existing altcoins has yet been able to surpass bitcoin in technology. He still remains the most reliable and has the greatest degree of trust among people.

Agree. What Bitcoin has on top of other altcoins is trust among everything. Being the oldest and most secure cryptocurrency, is one of the reasons why most people prefer Bitcoin than any other altcoin on the market. It took quite a long time and effort for Bitcoin to become the biggest cryptocurrency in the world. With widespread adoption from businesses, merchants, and companies alike, it has become the standard of the crypto world. Of course, we cannot hide the fact that most altcoins are superior than Bitcoin in terms of features and scalability. Some are capable of processing thousands of transactions per seconds at faster speeds than the pioneer cryptocurrency. But unfortunately, they lack mainstream adoption which is essential towards the longevity of any cryptocurrency.

Nonetheless, there's still the possibility of an altcoin replacing Bitcoin in the future, if it becomes extremely prominent within the mainstream world. Bitcoin's contender would need to provide unparalleled scalability, stable prices, and most of all, mainstream adoption in order to take its place as the world's largest cryptocurrency by market cap. But be aware, that it would take a lot of effort for this to happen as Bitcoin has a huge market cap and recognized branding. Perhaps, within a couple of years from now, we will see Bitcoin at the same place in market cap while altcoins are left behind as secondary assets. After all, Bitcoin's market dominance is on the rise where altcoins only control 30% of the market. Which is why, it'll be hard or nearly impossible for any altcoin to take down Bitcoin's place on the market anytime soon. Just my thoughts

[Tylev]

Even if any of the altcoins is capable of replacing bitcoin in the future, this cannot happen quickly. We see that for many altcoins that create a real-life product, a full development cycle takes years. Altcoins only exist for about four years. Therefore, it is too early to ask this question. In any case, you need to wait ten to twenty years, and then we'll see. We can’t say right now what will happen with the development of cryptocurrency in twenty years.

[bryant.coleman]

Even if any of the altcoins is capable of replacing bitcoin in the future, this cannot happen quickly. We see that for many altcoins that create a real-life product, a full development cycle takes years. Altcoins only exist for about four years. Therefore, it is too early to ask this question. In any case, you need to wait ten to twenty years, and then we'll see. We can’t say right now what will happen with the development of cryptocurrency in twenty years.

I don't think that any of the existing altcoins are capable of replacing Bitcoin in the near future. Coins such as Ethereum, Ripple, Litecoin.etc doesn't pose any challenge to Bitcoin because they are unable to capitalize on the deficiencies of Bitcoin. In some aspects, they are even worse than Bitcoin. So the users don't see any reason to use these coins instead of Bitcoin.

The idea of Bitcoin, as proposed by Satoshi Nakamoto in 2008 was a revolutionary concept at that time. It was an entirely different idea when compared to the existing technologies and even after 10+ years none of the other developers have come even close in creating something that could challenge Bitcoin, and at the same time maintaining its own uniqueness.

[thisappointed]

This have been asked so many times already but let me give my opinion about this thing again. Altcoin cannot replace Bitcoin's throne because of the term we called "superiority" meaning that Altcoins won't exist without Bitcoin itself. Bitcoin is the father of all coins here in the cryptocurrency world, and you won't call it a father with no reason at all. I know there is a lot of coin developers who are thinking that they might get to a point where they could make a coin that could beat Bitcoin, but until now, I can't see any of them making one.

So in my conclusion, Bitcoin will continue to reign this empire forever, because it's only the best coin we've ever had.

[bitbunnny]

This have been asked so many times already but let me give my opinion about this thing again. Altcoin cannot replace Bitcoin's throne because of the term we called "superiority" meaning that Altcoins won't exist without Bitcoin itself. Bitcoin is the father of all coins here in the cryptocurrency world, and you won't call it a father with no reason at all. I know there is a lot of coin developers who are thinking that they might get to a point where they could make a coin that could beat Bitcoin, but until now, I can't see any of them making one.

So in my conclusion, Bitcoin will continue to reign this empire forever, because it's only the best coin we've ever had.

Yes, Bitcoin was the first and it started crypto revolution but I can't agree that other altcoins can't exist without Bitcoin. That was just a trigger.
No other coin has replaced Bitcoin because the market hasn't accepted anyone of them in a way they would achieve bigger value and  acceptance compared to Bitcoin. Bitcoin has certain advantage because it was first but if any other coin proved on the market to be better it would have replace Bitcoin. But that didn't happen.

[cahbagus555]

This have been asked so many times already but let me give my opinion about this thing again. Altcoin cannot replace Bitcoin's throne because of the term we called "superiority" meaning that Altcoins won't exist without Bitcoin itself. Bitcoin is the father of all coins here in the cryptocurrency world, and you won't call it a father with no reason at all. I know there is a lot of coin developers who are thinking that they might get to a point where they could make a coin that could beat Bitcoin, but until now, I can't see any of them making one.

So in my conclusion, Bitcoin will continue to reign this empire forever, because it's only the best coin we've ever had.

It's hard to argue that Bitcoin will always be king in the cryptocurrency market. With a position as the main currency in all exchangers, Bitcoin demand will always be there and this makes Bitcoin transactions always the highest compared to altcoin. Besides that, I think it's about investor confidence in the Bitcoin network that is hard to duplicate or hack and also the limited supply

[The3max]

Bitcoin will always on top because of it's popularity and some of countries totally accept Bitcoin as the payment method. Bitcoin is unstoppable, that's why altcoin can't replaced it.

Many countries have accepted Bitcoin as a legal means of payment, many Bitcoin ATMs have been set up in many countries, the community of people who know Bitcoin is very strong, much more than other currencies. The value, security and decentralized platform that makes Bitcoin stand strong, are the irreplaceable

[Naughty Princess]

The main reason bitcoin was introduced was to fight the financial system that was centralized. it was a means of payment. therefore, it serves the main purpose on which cryptocurrencies was build. there is little or none need for altcoins.
also all altcoins are pegged with btc. there is no need to see any coin top it's pair.

It is because bitcoin is the foundation of all crypto and prices growth depends on it. It is hard to beat the price of bitcoin with any other altcoins because it is more popular on every investors and any services have accept and adapt it. Bitcoin is stronger and when the value gets down, mostly of altcoins are affected of it.

[Artemis3]

I figure it's because not all altcoins are out to actually replace Bitcoin, but solve other problems or be used for different purposes. If not that, they draw in different kinds of adopters.
Just like how I can't see Facebook's Libra replacing Bitcoin, even though it seems set to want to try to do so.

Bitcoin remains as what it was, it deserves to be at the top cause of its purpose and playing a big role in the market. No other coin can copy such uniqueness it has and put to its end.
And talking about Libra, nothing to see its potentiality to run over Bitcoin. It has to say that Libra will still as its altcoins just like of many others newly created.

The main problem with Libra is that it can be shutdown. This is what makes it garbage. You need something truly decentralized to gain people's trust. Bitcoin cannot be shutdown, therefore the people believe in it(s code).

When you want to evaluate an altcoin, this is one of the first things you need to check: Can it be shutdown? Either by their creators, or an external entity?

See, even Satoshi cannot stop Bitcoin now... Get it? That is why a bitcoin is worth what the market says its worth, well there is that and its other features but here i'm focusing in decentralization. Of course the blockchain matters, security and ireversability of its transactions, etc.

[royalfestus]

The idea of altcoin was not meant to replace bitcoin, I struggle with this argument always. The Idea is to take care of other features bitcoin cant do. Though some have struggle to believe why bitcoin has been excelling so well even with the limited functions but I believe at a point in the growing space we will place our priority right. Even the anonymous coins in the space function in a different level and path. I believe the competition everyone brought to the space affect the tokenomics of larger number of the altcoin and their performance.