Why hasn't any altcoin replaced bitcoin?

[Pab]

I have different point of view.I see bitcoin and legitimate altcoins like a one cryptocurrencies movement alternative to fiat money. Bitcoin is king because bitcoin was first but bitcoin blockchain is most secure from all kind of blockchain. Security is most important and will be most important factor

[Dread Pirate Roberts]

There have been many examples of altcoin which have higher coin specifications than bitcoin, but still cannot compete with bitcoin because of the bitcoin community and history itself is more valuable than the specifications. and also the comparison is not too far away. but certainly bitcoin as pioneer crypto will always be number 1 or i can say main coin in the crypto market.

[kodtycoon]

I have different point of view.I see bitcoin and legitimate altcoins like a one cryptocurrencies movement alternative to fiat money. Bitcoin is king because bitcoin was first but bitcoin blockchain is most secure from all kind of blockchain. Security is most important and will be most important factor

that's true and when there are transactions that are faster but don't have good security then it will only make its popularity decrease, we don't care about slower transactions because if it's safe then it will be the right choice to maintain. so it is not easy to replace bitcoin, even though the price is dropping very hard but it will not make the position of bitcoin easily replaced because the market is still very affected by the trends that happen in bitcoin

[Abiky]

Too generic and too sweeping a question. In a world with how many, 3? 4? thousand coins and tokens, has any coin actually replaced any other?

The best any coin can do is to displace another in terms of some arbitrary metrics. Ethereum was a pretender to the Bitcoin crown in market cap. I've actually seen altcoins whose single coin value was more than Bitcoin at one point. Don't know if it was ever really bought and sold on actual orders, but hey, that's one way to replace it.

But segments of Bitcoin use? Sure. I remember when Monero first spiked noticeably, in 2016 when supposedly darkmarkets adopted it. They didn't replace Bitcoin, but Monero took over any roles of anonymity that people mistakenly thought Bitcoin had.

Basically, altcoins are copies of Bitcoin one way or another. Some are a direct copy of BTC with the same source code and everything, while others mimic its properties/functionalities. If you take a deep look at the crypto industry, you'll notice that every altcoin is just an improved version of Bitcoin. As the pioneer cryptocurrency is the original project which started it all, altcoins will never be able to take its rightful place on the market. It's as simple as that. While this is true, I believe that a few rock-solid altcoins like Ethereum and Litecoin will be able to complement Bitcoin in many ways. In areas where Bitcoin cannot fulfill certain tasks, altcoins come into play. Given how Bitcoin is recognized by many as "digital gold", it's safe to say that altcoins are more like "digital cash" than anything else.

Of course, some altcoins are even much more valuable than Bitcoin is now (like 42-coin). But even so, they've been unable to surpass BTC's market cap for a very long time. If we were to classify the best altcoins that will live alongside Bitcoin, those will be Ethereum, Litecoin, and Monero. They not only have innovative features, but they're also rock-solid in development and innovation. Additionally, these altcoins have a good degree of usability within the mainstream world. For once, Monero was highly popular with darknet markets while Ethereum was the top cryptocurrency for ICO tokens. Those days seem to be over, as people have lost the excitement between these cryptocurrencies. It's now the day where both ETH and XMR are extremely cheaper than they were some time ago. Despite their many advances, Bitcoin is still the world's largest cryptocurrency by market cap.

Nonetheless, it's highly unlikely that altcoins will replace Bitcoin anytime soon. The pioneer cryptocurrency has grown big enough to a point where it's virtually unstoppable. Since the whole crypto market depends on Bitcoin as a reserve currency, the situation of replacing Bitcoin would turn out to be academic. Just my thoughts

[aryadiningrat123]

because the first bitcoin cryptocurrency made it impossible for any coin to stop bitcoin or replace bitcoin will never happen because the first digital bitcoin asset that many people use in the world so they will always use bitcoin, and if there are coins that can replacing bitcoin still, they will always use bitcoin as their assets and bitcoin will not happen

[nara1892]

because it's a matter of trust
technology is usually replaced with a new one because people believe the technology is improving and better than before, be it television, cars, smartphones and so on

but bitcoin is not just a matter of technology, but trust, how many people make altcoin but we don't know which one can be trusted

but everyone who enters the world of cryptocurrency believes in bitcoin because we know bitcoin is 10 years old and never dies, and every alt depends on bitcoin which makes it always alive

don't gold and silver come before paper money? and until now people still believe in gold and silver

[teosanru]

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?

It's pretty different from technological developments. Basically it's money and a money which got a first mover advantage. Think of it as USD of cryptocurrencies. It is quite old and many new currencies and economies have been built after that but they aren't able to take over USD in the world's market cap. Or think of it as some brand like Coca Cola which has got a first mover advantage in it's industry. Bitcoin has that same first mover advantage and people know cryptocurrencies because of bitcoin. This is the reason why no altcoin has replaced bitcoin. It was pretty late until any altcoin was developed BTC has already gathered a lot of heat so it remains the mainstream currency but this doesn't means it can never be replaced any new innovation which is popularized even more than btc can surpass BTC in future.

[CODE200]

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?

What I think is, the popularity of bitcoin is still in the line. many people see cryptocurrency = Bitcoin. the not enough knowledge base on what is cryptocurrency is still the factor on that. Because there's a several alts that is actually a good one, I can say that EOS and ETH have a potential to replace bitcoin for being first, but yet people still choosing bitcoin because simply bitcoin is the first cryptocurrency.

[Malsetid]

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?

What I think is, the popularity of bitcoin is still in the line. many people see cryptocurrency = Bitcoin. the not enough knowledge base on what is cryptocurrency is still the factor on that. Because there's a several alts that is actually a good one, I can say that EOS and ETH have a potential to replace bitcoin for being first, but yet people still choosing bitcoin because simply bitcoin is the first cryptocurrency.

There are several alts that ARE better than btc when it comes to usage. Though if you're looking for one that would overthrow btc's dominance, i doubt you'll find one. Back then people were looking at ether to be the next in line. Then came alts like ripple and bch that challenged eth as the number 2 alt. I guess unless people understand what crypto is entirely, they'll see it mainly as bitcoin.

[kr105]

The popularity of BTC makes people believe its the best one. People think Btc more reliable than the altcoins in the market. Many people doesn’t even know the difference between some Alts, so they tend to believe all Alts are same. And we can’t deny many of alts are useless. I mean, many of them don’t even deserve the hype. So they disappear in short term. In this case, i don’t expect people to adopt the Alts enough to compete with BTC. It seems like bitcoin will stay as number one cryptocurrency in near future.

[lelylely]

Bitcoin is the first crypto coin and is the strongest coin, and as the most popular coin of course bitcoin will not be easily swiped by altcoin.

[NewBet]

The Bitcoin community is the largest by far, and the technology of Bitcoin is the most developed... It is 5 years ahead of any other cryptocurrency, and this is why Bitcoin is still dominating the crypto-currency market.

[fitty]

What do you think?

No one knows on what bitcoin isn't still being replaced yet in spite on being outclassed by most updated or good featured altcoins in the market currently.

But we can already presume that Bitcoin is king of crypto that's why its being mainly supported by the masses in spite of its scability issues.

Maybe it is because bitcoin is the root of all?Bitcoin is still the main topic whenever we talk about cryptocurrency no matter how many coins are issued with more advance security and features than bitcoin.Bitcoin being the first one plays a big factor on why it is still not being replaced at top by some altcoins.

[Murat]

Basically, people always find a credible and trendy thing, you can't even suggest a thing which has no credibility that's why we try to keep on an established platform, for me, Bitcoin has already been an established platform and other Alts try to follow BTC still now. If you make a good impression in the market you must have the guts and the guts come from the position what you have. If you build a platform then you must be the pioneer of this way, Bitcoin is such like this. another thing is the acceptability around the world. I think no Alts will replace the Bitcoin but they could exist for a long time. ETH & XRP has chance to get popularity like bitcoin.

[Reatim]

What do you think?

Simply because bitcoin got the trust of each and everyone who invest on it and account also those whales that the intention is to manipulate to market to bag tons on money everytime they pump and dump the prices.it  is hard to admit but Bitcoin has been being abused by riches and the small investors mostly the victims.


But in totality?the reason why there’s no altcoin replacing bitcoin?because nothing can outgrow the popularity of this Blockchain based currency

[Cheesus]

The altcoin has owners, they change things, for their every statement price can go up or down! They reserve huge money for their developers, even they don't want to overcome Bitcoin, which is not possible though. Some altcoin project claimed they are making a better coin than Bitcoin, those projects are failed/dead badly! But Bitcoin has not that type owner, this is a great technology managed by the people, no governments rules, no CEO rules here. Bitcoin is a flag of true decentralization, true freedom. So, no one other coins can get this high popularity. Bitcoin will remain the unreplaceable digital asset, the King of crypto!

[doomistake]

I think they can

You're wrong. Bitcoin is the father of all the coins here and altcoins are just clones from bitcoin, having its name Altcoins that means Alternative coins, they are clones and forks according to the article that I've read in quora, in Math, bitcoin is the original equation and Altcoins are just the derived equations from it, without bitcoin, blockchain and all of other cryptocurrencies would not exist.

so it is accurate to assume that altcoins could never replaced bitcoin, ever, but I've seen many that tried so far to do this *sighs*

[negancoin]

Because we haven't any altcoins that back by giant company yet, and once that happens bitcoin will face his first real competitor and we might see the bitcoin get beaten in term of market domination and usage. Libra would probably take over if governments allow facebook to go in its direction without limitation to become a currency that can be used by people all over the world. At the end of day, most people just a currency that they could move easily, they don't that much on other stuff, just see how they prefer to use centralized exchange over decentralized. having that said, bitcoin will play the rule of gold in future, I don't see it to be a currency that will used to purchase our daily needs.

[Abiky]

The Bitcoin community is the largest by far, and the technology of Bitcoin is the most developed... It is 5 years ahead of any other cryptocurrency, and this is why Bitcoin is still dominating the crypto-currency market.

Exactly. While Bitcoin may have its limitations, it's still the dominant cryptocurrency because it's been the first which started this movement. No other altcoin can match Bitcoin's branding recognition within the mainstream world. After all, the pioneer cryptocurrency has a proven track-record of security and stability over the years. Many altcoins have useful features but are not as secure as Bitcoin. For this and many other reasons, not a single altcoin has been able to replace Bitcoin today.

Of course, everything will depend on the level of demand and usefulness of a specific cryptocurrency. If an altcoin manages to gather a large number of people into it, delivering a rock-solid blockchain network to the world, then it could rival Bitcoin within the crypto market. Additionally, such altcoin needs to be deflationary by design if it wants to gain higher prices than Bitcoin over time. I believe that Litecoin is an altcoin that’s very close to Bitcoin in this sense, but it lacks true innovation. Most of its development is nearly the same as Bitcoin’s, as Litecoin copies its footsteps every step of way. It's even used as experimental grounds for Bitcoin nowadays.

Nonetheless, with Bitcoin growing every step of the way, it becomes much harder for altcoins to replace it in the future. Something big needs to happen for Bitcoin to take down its place as the world's largest cryptocurrency by market cap. In the meantime, Bitcoin will continue to prevail being the reserve cryptocurrency of the market for years to come. Just my thoughts

[Thefrolly]

While there are a lot of speculations going by that altcoins cannot take over and replace bitcoins simply because they are just derivatives, and of course, alternative coins, I would like to disagree because the industry has shown us time and time again that anything can most likely happen, and the possibility of altcoins replacing bitcoins can not be overlooked.