Why hasn't any altcoin replaced bitcoin?

[imstillthebest]

The idea of altcoin was not meant to replace bitcoin,

people create altcoins because they think bitcoin earns alot and will earn even more  if it dont have any competitors  . many alt developer do thier best so that they can attract more people and thier coin can become on top but people cant just forget bitcoin too easily  , they still make bitcoin as thier primary asset  .

why some people do wanted to see bitcoin being replaced ? why cant they just be happy what bitcoin achieved  ? hmmmm ?

[Murat]

I think any other altcoin couldn't match the level bitcoin. So that's why altcoin couldn't replace bitcoin. Basic difference between bitcoin and altcoin are prices, popularity, features which altcoins are lack of comparing to bitcoin.

Bitcoin is the first digital currency and after seeing bitcoin success many altcoins have arrived at the market. So, we cant think altcoin can replace bitcoin now or near future.

[TimeTeller]

Bitcoin is more than just been the first decentralized cryptocurrency to have been created. Its security and mathematical computation is a great innovation which most of these new project lack. It has no team to give it credence. So every other decentralized system just study the bitcoin and create theirs.

Aside from that, the popularity of usage of Bitcoin is large as compared to any other altcoins combined.
When you ask an ordinary individual if he knows about crypto, the first thing they come up with is bitcoin.
Though they are not totally oriented with crypto, most of them have heard or encountered the name of Bitcoin somewhere.
And as more shops, merchants and companies are adding  crypto payment method, with the first choice to be btc, the btc  adoption will be far more than other altcoins.

[DonInvestor]

We should look on the different point of view. The question is why some altcoin should replace bitcoin. Cryptocurrency market is in early stage and we will see application of the blockchain in many of cases. Bitcoin is concrete implementation of the blockchain i mean transfer funds from address A to address B. This is fin tech. That's it. Other cryptocurrencies like ethereum or neo or stratis or something else try to implement blockchain in order to make better life like improvement supply chain in medical industry for example.
To sum up isn't necessary that some altcoin should replace bitcoin.

[Vishnu.Reang]

To my knowledge, most people who have invested in bitcoin have done it for the price, because bitcoin has proven many times to be a big investment and a way to make some big profits because its value is rising rapidly. We can also see that now, most of the Altcoin pairs are for Bitcoin and vice versa. Whereas Altcoin is paired with Altcoin only a few are not more than centralized exchanges.

Earlier almost all of the altcoin trade used to be against Bitcoin. But the situation is slowly changing. If you check the major exchanges such as Binance and Huobi, now a large part of the trade is being conducted against USDT (Tether) or other stablecoins. ETH is also being used more for trading the smaller altcoins. This can be both beneficial and disadvantageous for the alts. For example, if a Bitcoin bull run occurs in the future, then the impact may not be visible for the alts.

[tungaqhd]

To replace bitcoin I don't think that's possible. bitcoin is a masterpiece and as a crypto pioneer and always will be. unless there is a new innovation that really has an impact on the real market and everyone directly. maybe altcoin can compete with bitcoin but as the main crypto I think bitcoin will always be a reference in the crypto market.

To say bitcoin is a masterpiece is not so accurate, agree that it is a pioneer for crypto but the features, even usefulness are still very limited, more precisely, it is more outdated than current altcoins. However, in return for these disadvantages, bitcoin receives the attention of everyone when it exists for a long time and has reached a very high value, their positions have not been able to change since both were born, altcoin is dependent on bitcoin when we can see that the value of each altcoin is calculated and converted to the value of bitcoin on CMC

[Prettyme]

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?

As popularly said that the only constant thing in this world is change and we prove that from time to time. With the examples you said I think it undergoes planning and research on how to improve the present machine or anything they are using right now.  In terms of altcoins still bitcoin is unbeatable crypto in the crypto world so it will not replace by a new altcoin but satoshi will planning and researching about on how to develop and improve bitcoin to keep its popularity and value.

[princerepon]

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.

There is no doubt that bitcoin is one of the biggest innovations of the human in the past years. People trust on bitcoin but they can't trust on any altcoin like they trust bitcoin. I think this is the most important different thing between bitcoin and altcoin.

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.

Those thing you are talking about are very old. Bitcoin and altcoin came in this world like 10 years. I think this take some time for change it (if it is possible).

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?

That's one of the good point you gave also. In this cheat or scammers world trust is the most value able thing at this moment. And of course people believe trust able thing. Why they just believe in some scam altcoin which is not trust worthy.

[Darkoth89]

Being first in every sector has big advantages. Bitcoin is the first cryptocurrency in the market. It has Blockchain technology and this makes Bitcoin better than other cryptocurrencies too.

It's not only that. Also a lot of people still don't know of any other cryptocurrencies besides Bitcoin. For them it's Cryptocurrency = Bitcoin. Same goes for the mainstream mass media. That's why any altcoin has a hard time to compete.

[lonelygrimm]

You're right, why bitcoin can't be replaced with new altcoins like ethereum for example. why until now bitcoin is still the king of the crypto world ? is it possible because bitcoin have many users and is more trusted for an advantage in cryptocurrency?

[Oasisman]

You're right, why bitcoin can't be replaced with new altcoins like ethereum for example. why until now bitcoin is still the king of the crypto world ? is it possible because bitcoin have many users and is more trusted for an advantage in cryptocurrency?

You have answered your question with one of the most common reason why Bitcoin sits atop of all crypto.

Bitcoin is the mother of all crypto currency, and It took several years for it to be recognized and used as a currency for payment. There are already millions of Bitcoin in the circulation before the 2nd crypto currency was created. So, if you come to think of it why people choose to have Bitcoin in their bags rather any other altcoins, it is because Bitcoin has been used for payment long before all the alts in the market today, and thats what you call the mainstream acceptance.

[camaund]

Metcalfe's law says that network grow proportionally to the number of users https://en.wikipedia.org/wiki/Metcalfe%27s_law. That is why google plus never caught on with facebook, every user was already on facebook. In the case of Bitcoin, this goes stronger, it is easier to jump from a social network to another. In case to go from BTC to alts it has a monetary cost so the jump is a lot harder. Also, BTC does not have a pre-mine, and Satoshi has never moved his stash from mining, giving more confidence.

[ChrisPop]

First of all there is the psychological factor. Bitcoin was the first and had no competitor for years, therefore it has begun to be the FACE of a cryptocurrency. Even now when you say cryptocurrency most people think about Bitcoin and not about altcoins at all. Then it is most surely the most used cryptocurrency and it does not have an actual human behind it, but just a name.. Satoshi Nakamoto. I think its creator was very smart by keeping himself/herself anonymous.

[illnino]

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

Simply Bitcoin is the only one real cryptocurrency and altcoins (even Ethereum) are just the attempts to repeat the glory of BTC. As BTC is limited in coins (21 million), it is strongly protected from inflation, and altcoins are not. The cryptocurrency number one will not years change its status for at least 20 years. I guess, finally, it will be really adopted globally, in less than 3-6 years.

[qwertyup23]

<snip....>
What do you think?

Be reminded that the blockchain is what makes bitcoin valuable as it offers endless possibilities in the application of future transactions. One of the reasons on why bitcoin continues to dominate the cryptocurrency market is because of its price. There are hundreds and thousands of altcoins available in the market but no one comes near to the price of bitcoin.

Not to mention, the number of people who transact using bitcoin is significantly large, to the point that it attracted notice to the governments of different countries across the world.

You're right, why bitcoin can't be replaced with new altcoins like ethereum for example. why until now bitcoin is still the king of the crypto world ? is it possible because bitcoin have many users and is more trusted for an advantage in cryptocurrency?

You have answered your question with one of the most common reason why Bitcoin sits atop of all crypto.

Bitcoin is the mother of all crypto currency, and It took several years for it to be recognized and used as a currency for payment. There are already millions of Bitcoin in the circulation before the 2nd crypto currency was created. So, if you come to think of it why people choose to have Bitcoin in their bags rather any other altcoins, it is because Bitcoin has been used for payment long before all the alts in the market today, and thats what you call the mainstream acceptance.

The only way that I see an altcoin replacing bitcoin is when there is a massive prohibition on bitcoin SPECIFICALLY or if another altcoin surfaces and improves all the areas that bitcoin failed to meet. But I seriously doubt that this will happen anytime soon considering the number of users and the price of bitcoin in the market.

[Spaffin]

You're right, why bitcoin can't be replaced with new altcoins like ethereum for example. why until now bitcoin is still the king of the crypto world ? is it possible because bitcoin have many users and is more trusted for an advantage in cryptocurrency?

You have answered your question with one of the most common reason why Bitcoin sits atop of all crypto.

Bitcoin is the mother of all crypto currency, and It took several years for it to be recognized and used as a currency for payment. There are already millions of Bitcoin in the circulation before the 2nd crypto currency was created. So, if you come to think of it why people choose to have Bitcoin in their bags rather any other altcoins, it is because Bitcoin has been used for payment long before all the alts in the market today, and thats what you call the mainstream acceptance.

I believe that Ethereum can become a direct competitor to Bitcoin and be able to get ahead of it in the cryptocurrency market.  Of course, I understand that Bitcoin is a pioneer, but cryptocurrency users in the future can evaluate Bitcoin as a rarity, and this may be its value.  And Ethereum has every chance to become a leader in the cryptocurrency market, since the speed of transactions, their value, as well as security at a very high level.

[LUCKMCFLY]

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

Simply Bitcoin is the only one real cryptocurrency and altcoins (even Ethereum) are just the attempts to repeat the glory of BTC. As BTC is limited in coins (21 million), it is strongly protected from inflation, and altcoins are not. The cryptocurrency number one will not years change its status for at least 20 years. I guess, finally, it will be really adopted globally, in less than 3-6 years.

I agree, Bitcoin is the currency that commands and the other altcoins depend on Bitcoin, simply because they have no life of their own. The dependence of the altcoins will always be given, there is no way other currency that can compete with Bitcoin given the history that has been presented.

[Ayiranorea]

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

Simply Bitcoin is the only one real cryptocurrency and altcoins (even Ethereum) are just the attempts to repeat the glory of BTC. As BTC is limited in coins (21 million), it is strongly protected from inflation, and altcoins are not. The cryptocurrency number one will not years change its status for at least 20 years. I guess, finally, it will be really adopted globally, in less than 3-6 years.

I agree, Bitcoin is the currency that commands and the other altcoins depend on Bitcoin, simply because they have no life of their own. The dependence of the altcoins will always be given, there is no way other currency that can compete with Bitcoin given the history that has been presented.

It isn't life of their own, it is all because of the dependence. Just think of bitcoin which is valued in terms of USD. This doesn't mean it has a life of its own. There are few cryptocurrencies that have its individuality but they're not up to the level of the one that served to be the base for the entire cryptocurrency network.

[Oasisman]

You're right, why bitcoin can't be replaced with new altcoins like ethereum for example. why until now bitcoin is still the king of the crypto world ? is it possible because bitcoin have many users and is more trusted for an advantage in cryptocurrency?

You have answered your question with one of the most common reason why Bitcoin sits atop of all crypto.

Bitcoin is the mother of all crypto currency, and It took several years for it to be recognized and used as a currency for payment. There are already millions of Bitcoin in the circulation before the 2nd crypto currency was created. So, if you come to think of it why people choose to have Bitcoin in their bags rather any other altcoins, it is because Bitcoin has been used for payment long before all the alts in the market today, and thats what you call the mainstream acceptance.

The only way that I see an altcoin replacing bitcoin is when there is a massive prohibition on bitcoin SPECIFICALLY or if another altcoin surfaces and improves all the areas that bitcoin failed to meet. But I seriously doubt that this will happen anytime soon considering the number of users and the price of bitcoin in the market.

The possibility for crypto currency in the future seems limitless. There may be another alt that will beat Bitcoin on the number 1 spot, yet it will take several years before it happen. The number of adoption of Bitcoin in the market is still solid. ETH to be specific comes the closest competitor, yet It was far behind from dethroning Bitcoin yet. I know theres still plenty of room for improvements and fill those specific areas they have failed.
Massive prohibition for Bitcoin might be possible too, but banks, government agencies, and other financial firms are already  recognizing the technology.

[NavI_027]

The only way that I see an altcoin replacing bitcoin is when there is a massive prohibition on bitcoin SPECIFICALLY

Oh! I see. I get your point mate. As I think of what you've said, I may say that's a possible way to knock down btc. If we assume that every government of all nation decides to ban the use of btc in their country but allow the remaining alts then it will surely die because the demand will be forcibly lost  And most probably the ending would be ETH reigning as the new king. Well, that's only an assumption and very hard to put in reality so gor now BTC will stay and remain on top .

or if another altcoin surfaces and improves all the areas that bitcoin failed to meet.

It will be the same IMO because of the impression which are engraved in our minds — that alts/token was just made for Pump and Dump. Yeah! They will support it at first, create hype and other stuff but once they are do they'll go back again to the strongest coin in the market.