Why are there no altcoins that can replace Bitcoin?

[taufik123]

I'm just paying attention to the fact that after bitcoin, people don't believe in altcoins created by a pseudo-anonymous.
The basic weakness of altcoins in general is the exposed founders. Interested parties can create other "rules" that pressure the founders to change their coin base network protocol to a more centralized one. Blockchain may be decentralized, founders can still be regulated.

However, some altcoins that have been recognized and have a good future can certainly compete with bitcoin, but in the quotes "Nothing Can Replace Bitcoin", Bitcoin remains the main one, because all altcoins are born from bitcoin, from the source code that was developed so that until now many altcoins are starting to appear.

Currently, what cannot be trusted are coins whose founders and goals are not clear, because they will only become trash coins without any development.

Bitcoin is the main reference, Bitcoin is not regulated by anyone and Bitcoin is a very valuable digital currency today.

[DooMAD]

but gold has always been the most valuable metal, still number 1.

Sorry to be a bit pedantic, but while gold might be number 1 in an iconic sense, in terms of actual value, it isn't.  Palladium and Rhodium are considered more valuable.

It's a different situation with Bitcoin, though.  One of the biggest factors behind its superiority lies in network effects.  In essence, the more people who use it, the more utility it has.  It's not something other coins can easily replicate.  Essentially, unless Bitcoin has any serious technical issues in future, there's not much which would put a dent in the number of people who use Bitcoin, so the number is likely to grow larger in future.  Other coins might fill niches that Bitcoin doesn't cater to, but there's nothing out there that could easily replace Bitcoin.

[kryptqnick]

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

I don't think the comparison with gold is 100% accurate. Steel, for example, is much more abundant, and being scarce is one of the reasons gold is valued. Of course, it's not the only reason because something can be very scarce but not of interest to anyone either, but still.
No altcoins replaced Bitcoin because they're not good enough to be an obvious improvement over Bitcoin. They can have some features which allow making things Bitcoin doesn't, but Bitcoin is good enough as a currency, and  as a form of investment, to not be replaced.

[macson]

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

what you say is the truth...Bitcoin can't be replaced by any altcoin.  Bitcoin is the creation of satoshi, people are already in love with this first cryptocurrency.  besides being purely a decentralized asset, the amount of Bitcoin also cannot be manipulated, Bitcoin is king.

[Cling18]

Bitcoin has built a strong foundation of trust, especially for most investors because it has proven lots of things for years. It's being adapted and used in many ways almost around the world and has achieved lots of achievements. These are the things that altcoins should establish before they could replace Bitcoin. BTC as the father of cryptocurrencies has passed all the tests of time.

[hatshepsut93]

Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.

Gold is far from being the most expensive metal per unit of weight. Gold is simply the most common store of value among metals because it's not in high demand for any industry and its supply hits the sweet spot where it isn't too common and easily found, but also not too scarce so a lot of people can own it.

Bitcoin is an entirely different story. It's simply the best coin, because it has the highest PoW, the biggest community, the highest adoption, and its core goal is to be secure and decentralized, while its competitors have abandoned this goal, and it comes to bite them back when they get hacked or attacked.

[Rana590]

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

Bitcoin is unique and it has some extra features. People trust Bitcoin more than any other coin. Bitcoin is one of the most popular and well known crypto in the world. Who are familiar with crypto, he should know about Bitcoin first.

[eaLiTy]

~
Gold is far from being the most expensive metal per unit of weight. Gold is simply the most common store of value among metals because it's not in high demand for any industry and its supply hits the sweet spot where it isn't too common and easily found, but also not too scarce so a lot of people can own it.

Gold is a store of value for centuries and millennium and many of the kings viewed it as a benchmark for wealth and prosperity. Gold is high in demand as a store of value and in times of inflation, investors will jump into gold to store their value than investing in any other volatile market.

Bitcoin is an entirely different story. It's simply the best coin, because it has the highest PoW, the biggest community, the highest adoption, and its core goal is to be secure and decentralized, while its competitors have abandoned this goal, and it comes to bite them back when they get hacked or attacked.

The reason you see majority of the investment coming into the cryptocurrency space is simply because of the hype and not because they researched about the fundamentals and i am saying this simply because there is no reason why some of the shit coins rallied will not making any sense . The reason is that money is flowing where there is a hype and not looking at the fundamentals.

[Xal0lex]

Bitcoin is the benchmark among cryptocurrencies, the pioneer. It will always be a market legislator, it will always be valued more, better, and more willing to invest in it. How many of these bitcoin killers have already been invented? Can't count. They try to lure us with low commissions, speed of transactions, privacy and other things. But no altcoin will ever replicate the success and acceptance of bitcoin. Altcoins can be useful for some specific tasks when interacting with the crypto industry, no more. For full-fledged superiority, there is very little of that. Although some argue that ETH will become the number 1 cryptocurrency for the foreseeable future.

[thecodebear]

Because,


Only Bitcoin is truly decentralized,
Only Bitcoin is leaderless,
Only Bitcoin is money,
Only Bitcoin has global-level security,
Only Bitcoin has a consistent immutable monetary policy,
Only Bitcoin is widely trusted.


Bitcoin is unique in the crypto world and no altcoin even comes close to Bitcoin in a variety of ways. Altcoins are essentially all corporate products sold and issued as fundraising for the company, and the product's main objective is to make apps and they focus on this app functionality instead of on immutability, decentralization, security, etc. That's extremely different than what Bitcoin is. Bitcoin is money, altcoins are apps.

And even for the few that sorta tried to be like Bitcoin, there's no need for a second global money so they failed (this is why LTC is no longer relevant), while some realized it was pointless to try to compete with Bitcoin so they tried to pivot from money to the app space that all other altcoins are focused on and they just ended up failing in that space too because they are taking a failed product to compete in a space that already has plenty of competition.


They only way to even attempt to make another thing like Bitcoin would be to mimmick how Bitcoin started - no company, no pre-sell, no coins held for advertising and partnerships and the team and so on, likely no Proof of Stake or similar mechanisims, no sacrificing decentralization to gain a bit of functionality, and no founder or central figure, while being very easy to run nodes on common househould hardware. And even if all that was done (which nobody is trying to do because the people interested in making new coins are doing it to get rich, ie build a company) that new coin would have to somehow outcompete Bitcoin which is already globally recognized as the one and only digital money and has global recognition and support, so it would be a impossibly losing battle right from the start.

So instead people focus on making the next round of apps in this new market space and trying to get rich off their corporate product.

[Oilacris]

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

We cant predict the future on what it would look like but we couldnt just deny that Bitcoin is really been mainly supported which is something not surprising.Not only the first but also this one had
started out in overall cryptocurrencies existence which do materialized out and make it a functional utility in terms of decentralized payment which the community do mostly or greatly appreciate it.

Even though there are lots of coins or alts in the market which do works more better and bit superior in terms of functionality and application but still people could not just
simply reject nor ignore the importance of bitcoins existence but we wont know on how long it would be sitting on number #1 spot.

[Finestream]

Because only Bitcoin is decentralized and that, among many other features, makes it unique. People have recognized this over the years, and those who believed that some new crypto king would emerge were not only disappointed, but also lost a lot of money. All these coins you mentioned have nothing (at least for me) superior, but they are trying to be better than Bitcoin with some innovations that most people don't need or don't understand anyway.

To be honest, everyone is looking for something to buy cheap and one day sell for a thousand times the price. This is how the entire altcoins market works.

There is no altcoins that can replace bitcoin simply because altcoins only serve as an alternative coins, the main coin will always be bitcoin. And because of its own decentralized nature, people even love it more. Unlike altcoins that are mostly centralized so its never a good preference for us. And because bitcoin has the most expensive price, enough to dominate the whole crypto market. So if you aim for a huge reward from an investment, you must also pay its expensive price.

[Fortify]

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

I think you have it very wrong and other cryptocurrencies will surpass Bitcoin eventually. It might not happen in the next ten years, but there are plenty of technologies out there which improve upon the standards that Bitcoin laid down. It's more like comparing a 28k modem versus fiber optic internet connections - the first iterations of the internet at much slower speeds were incrementally improved over time to allow much greater capacity. There are some inherent limitations that only other versions of cryptocurrency have the ability to change. Network capacity, speed, energy usage and transaction fees have improved over time but they need to keep dropping to compete with existing payment networks.

[Franctoshi]

Bitcoin has stand the test of time, Security, store of , money , scarcity, inflation hedge etc.
I will also say too, that this is how the algorithm was programed for Bitcoin to be King of other digital currency because almost every other Cryptocurrency is influenced by Bitcoin's movement,  If Bitcoin falls almost every other crypto falls verse versa.

[TheNineClub]

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

Well, there's more to just saying gold is a valuable metal. In the financial world gold has been made valuable because it was connected to the dollar (rather that's why it's still valuable today). The thing with altcoins is that there really is no need for a takeover in that sense. Most altcoins actually provide something different than BTC has to offer and in that sense are not competing with it, but coexisting with it.

[tinopener]

BTC is not only the first coin but it has symbolic value for the entire crypto market, one symbol of the blockchain revolution.
Just like gold, there are thousands of metals produced such as steel, aluminum, silver, etc., which are widely used in daily life. but gold has always been the most valuable metal, still number 1.
So there will be no altcoins that can replace BTC although ETH, Sol, Tron or Xrp... have utilities, applications and technologies that are far superior to BTC.

This is actually quite an important point.

I think platinum is rarer than gold and has more uses.

But gold is simply valued more because of its color.

[nurilham]

Bitcoin in addition to mastering the crypto market is also a fully decentralized crypto and makes it an investment choice for investors because it is considered more certain. Bitcoin is a pioneer among the many cryptos in the market so that Bitcoin has influence and control the crypto market. It is true that although many Altcoins are good, until now they have not been able to replace Bitcoin because basically Altcoins were created as an alternative to Bitcoin where the goal is to correct the shortcomings of Bitcoin. that is why Altcoins cannot compete with Bitcoin even though many altcoins are constantly growing and booming in the crypto market.

[usekevin]

Their is no direct explanation.Their is not symbol to explain this. When the trade of crypto was occurred, it also impact the price of bitcoin.When the price of bitcoin had increased the lot, the same will reflected on the altcoin.Since bitcoin is the decentralized crypto, it had a potential to reach 100 percentage from the present value.

[batang_bitcoin]

Bitcoin is the first cryptocurrency that has used blockchain technology. It may not be technically as the first crypto because there were other digital cash that have been produced before but they weren't recognized and no success has been with them.
The first born cannot be replaced as it's the market's standard and it's where all of them are relying based on its market sentiment. Have you noticed when bitcoin dumps? altcoins are suffering too?

[AmoreJaz]

Bitcoin is the first cryptocurrency that has used blockchain technology. It may not be technically as the first crypto because there were other digital cash that have been produced before but they weren't recognized and no success has been with them.
The first born cannot be replaced as it's the market's standard and it's where all of them are relying based on its market sentiment. Have you noticed when bitcoin dumps? altcoins are suffering too?

yes it is. but not all, mostly major alts are following the market trend of btc. and yes, the reality is if you ask someone, not a crypto user, if they know crypto, the first thing that usually comes up with their mind is bitcoin. but if you try to mention -ethereum, solana, xrp or ltc, they will be lost in discussion. so yeah, the popularity of bitcoin now is hard to beat by alts. have you seen also the time that a lot of alts are trying to beat btc - claiming to be the one who will kill btc...where are they now? if gold is like the basis among precious metals, USD for fiat currencies, then we can say, BTC is for cryptocurrencies.