How Altcoins Failed To Win Over Bitcoin

[Baofeng]

Bitcoin has become synonymous with sound money, store of value, good asset to invest for. Give me one altcoin that have this characteristics? Yes, there is none so far so that is the reason why bitcoin remains on top, despite the many attacks by famous altcoins thru FUD or the network itself (spamming). But still bitcoin remains the King and it's hard to see some coin toppling it on top.

[1714751060]

1714751060

[1714751060]

1714751060

[1714751060]

1714751060

[1714751060]

1714751060

[dentolas]

I definitely do not see this thing as a failure... yes, some alts aim to improve bitcoin use case, but many have nothing to do with it, and I do not think we can look at it as a race to number one... like choosing the best between the burger and the chips...
No doubt BTC is the best known crypto out there, but there are many alts that are also capable to change the world

[lienfaye]

Bitcoin started it all and has many supporters so its not surprising if btc cant overtake by any altcoins nowadays. It can be use as currency and many merchants, online shops are already accepting it as payment option. Plus the fact thats its decentralized and no one can control your asset makes it more popular. But it doesnt mean alts are useless because many altcoins act as an alternative for bitcoin's disadvantage side like high fees.

[poodle63]

That needs the time and a decade is not even enough for altcoin. At least you have seen how strong the growth that happened with altcoin these days. We must try to take it as a serious thing and when the bitcoin dominance will be around 50% and we will see how altcoin has a possibility to surpass bitcoin.

[pedpedped101]

It has been decades now since the Bitcoin became a popular name in the world of cryptocurrency. However, it had a slow start but eventually became a global crypto coin. All Kudos to its developer and founder, Satoshi Nakamoto who planned a whitepaper featuring the benefits that made it welcomed by people for trading. Bitcoin is the foremost crypto coin by which people came to know about cryptocurrency. They had hardly expected any technology that would become an alternative to the traditional currencies that they have been using until now. Not only it achieved worldwide fame, but it also paved the way for other alternate currencies which are known as ‘altcoins’. But despite maximum numbers, these altcoins failed to win over Bitcoin.

Now, what are the reasons behind this failure?

That bitcoin is ahead of altcoins does notean that altcoins have failed. You already said it yourself that bitcoin came first, it's well known and accepted. Had it been altcoins cam first, the it would have been possible. i believe that they will not see any abnormality in it being behind bitcoin their master and pioneer.

[coupable]

"Altcoins failed to win over bitcoin"
That's right, but that's also not an exact conclusion.
Altcoins are not supposed to compete Bitcoin for several reasons; bitcoin is not centralised like almost all the alts, so the price can't be manipulated or infected by the reputation of the team behind. Bitcoin was first adopted by DarkWeb users who were the first adopters that help spread the usefulness of bitcoin, while in our days, some other alts seems to be more useful than bitcoin due to its anonymity and fast transaction like Monero and Grin.
I don't like to compare between bitcoin and other alts as they are in competition, but we can admit that Bitcoin is a resistant currency even it can be replaced by another alt for some specific purposes .

[NS-Soul]

It was like that the original can't replace a local even if they try their best to replace it original will be always the original, besides Bitcoin is the mother of all altcoin and no one can replaced on it on being on top even altcoins would try hard to be there they will not achieve what the bitcoin already have.

[MrMojoRising26]

I would say one huge factor is most Alts are just copies of bitcoin the currency ones anyway that's why they have failed

[GatotKaca]

I don't understand why other altcoins can win bitcoin, bitcoin is a very popular coin now and was first created and the quality of bitcoin continues to rise so that many investors like bitcoin and reality bitcoin is the most expensive coin, I have ever seen

[pawanjain]

None of the altcoins have win over bitcoin simply because bitcoin is the most trusted cryptocurrency in the crypto market which makes it the top most used cryptocurrency. There are some altcoins which have a good potential and are ranking good in the list but still they haven't took over bitcoin because people believe more in bitcoin. I have myself hold on to some altcoins but most of holdings are in bitcoin and I guess this is it with most of the traders.
This is why altcoins have failed to win over bitcoin.

[Serco]

I don't understand why other altcoins can win bitcoin, bitcoin is a very popular coin now and was first created and the quality of bitcoin continues to rise so that many investors like bitcoin and reality bitcoin is the most expensive coin, I have ever seen

maybe altcoin will have better feature and function , but on popularity side bitcoin still unbeatable. many altcoin just be number 2 and soon. moreover bitcoin have main feature on its supply that limited , many people compare bitcoin with money supply so it will influence people insight about bitcoi.

[Lordhermes]

In crypto space, relationship and connection is mostly important. Bitcoin has no exchange on her own but it's listed on almost all the exchange ever increasing more volumes and volatility. Altcoin aims to create own exchange making it difficult to reach far beyond Bitcoin.
Objective of altcoin is not always achieved at end, because their aim is  to run away with money gotten from crowfunding and so they can't overcome bitcoin.

[cabron]

You can't really say an altcoin failed because it didn't beat over bitcoin after all the team does knew it from the start that they can't beat the marketcap of BTC. But as long as the altcoin has a value, you can't say it failed to work as altcoin. The usecase of each altcoin differ from each other, some may just be useful for cheap transaction fee and all for gambling but if it did worked as intended then its successfully launched.

[QueenVera]

Most altcoins lack authenticity, they're not original instead copying already layout blueprint by other blockchain so how then do you expect people to trust their money into investing in a project that basically copied an already existing project. The coins that are original are actually doing well but just few copycat are succeeding although it isn't for long term as they'll definitely be dump for other copycat that looks promising.
Bitcoin has the trust of the community because of its many years of accountability, until an altcoin is able to achieve that, we're far from having another coin as successful as bitcoin.

[MikeyVeez]

Altcoins are in a much more difficult position because they come after Bitcoin and they are pushed to do something new, in another way. But that is the problem, blockchain is not a solution for everything as many people think that is.

[reliable]

I would say one huge factor is most Alts are just copies of bitcoin the currency ones anyway that's why they have failed

Altcoins came in existence after bitcoin and thus we know that because of bitcoin today we are seeing a huge altcoins in the market No doubt some of the altcoins have risen well in past few years and many such projects have failed badly or even turned out to be a scam.

[leyton11]

The reason for this is the nature of the crypto market. Why do so many sharks want to hold bitcoin instead of other coins? because they know that only bitcoin is no one to manage it anymore and they will take advantage of that to manipulate this crypto market easily. That is why many great altcoins such as Ethereum, Chainlink, Tezos, EOS cannot surpass bitcoin. All alts are frivolous and only bitcoin is the official coin.

[nutriagrigia]

Altcoins are in a much more difficult position because they come after Bitcoin and they are pushed to do something new, in another way. But that is the problem, blockchain is not a solution for everything as many people think that is.

now everything is different. now altcoins have started to dominate at the market. Bitcoin is stable and altcoins are generating huge profits.

[Ceyflix-Rez]

Maybe because Bitcoin is the first of it's kind that's why people trust Bitcoin more than any other coins even when many altcoins have better upgrades, things can change in near future for altcoins because lately it seems they are taking the lead without Bitcoin helping them out like the old times

[poodle63]

I don't understand why other altcoins can win bitcoin, bitcoin is a very popular coin now and was first created and the quality of bitcoin continues to rise so that many investors like bitcoin and reality bitcoin is the most expensive coin, I have ever seen

Did you a part of the early adopter of cryptocurrency? if you did and then you might have experienced to see when ethereum has replaced bitcoin on the first spot in a short time. It's about how altcoin can eat the domination that has already created by bitcoin and it's not a direct competition.