Why are there no altcoins that can replace Bitcoin?

[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.

Its the KING of all crypto which it isnt surprising that it would be staying on the top.If bitcoin did not exist then so as with altcoins that we do have today. Blockchain technology does really give out that

revolutionary kind of utility and Bitcoin did really make out that kind of possibility on having anonymous and decentralized kind of payment system.There might be lots of alts in the market which

do works better and cheaper but the community does know on where they would really be putting up their support.

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[adzino]

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 can't say bitcoin is far superior in all cases. Maybe superior when it comes to decentralization and security. Other than that, it is just a coin that people hold or use for making payment. But the value is high because it is "Bitcoin". It is the first crypto currencies that was made/invented. No matter how good other altcoins are, people will always in the end hold some bitcoins because believe in bitcoin and its future. Think of it like this, bitcoin is the leading all other altcoins. If bitcoin fails, there is a high chance the whole market will fall because people will lose faith on crypto currencies.

[lornadane]

For me he is the King of coins among other coins.
Then from a thousand coins or altcoins are also not able to replace the position of bitcoin even though the price can be more expensive than bitcoin, but the position of bitcoin still cannot be competed.
Thousands of millions of people now believe in bitcoin and of course they will not easily turn away from leaving bitcoin. 99% of altcoin price movements also follow bitcoin price movements.

[jokers10]

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 looked through most answers in the topic, most say about technologies and decentralization. But some altcoins have all that and more right now. And yes, as for now bitcoins reputation is the main reason why no other coin can replace it now when we can still talk about replacement. Next (I guess in many many years) the situation will change and there will be many strong cryptocurrencies and none and never as important as bitcoin now and that's why none of them would replace bitcoin anyway.

[Sebas.tian]

The crypto world perhaps bitcoin is the most unique, is the first created coin, is the most fully decentralized coin on the market. This asserts that bitcoin is an inviolable asset that can only be used by the holder of the key. Unlike bitcoin, today's altcoins are not fully centralized, so security is not as guaranteed as bitcoin.

Yes, bitcoin is the first created coin that was fully recognized as a decentralized coin, that is more unique than any other coins in the community. Bitcoin has demonstrated some positive impact to some countries that made it legalized, to feel the difference between decentralized coin and centralized fiat. Those that made bitcoin as their first choice came to discovered that, bitcoin still remain the king among other cryptocurrencies in terms of huge amount of profits making. Bitcoin is more reliable in terms of  security for long and short term investments.   

[jhonjhon]

Because bitcoin has been around for over a year and a lot of people are investing in it, the more popular it becomes, the more difficult it is to replace. Even though many altcoins are excellent, they are unable to replace bitcoin. Thus a lot of people are using bitcoin for investment as it continues to grow, It also offers some advantages because it is a decentralized digital currency, which means you have complete control over your funds and there is no need to be concerned because it is built on a secure technology called the blockchain. I read it on www. avg.com hope it helps

[lixer]

Bitcoin is the best. Is decentralized (others are too), it's open source (the source have been review a million times) works (a bit slow), there is acceptance as money replacement, can order anywhere online, transfers are auto, etc.

When i first got bitcoin i was surprised with this new idea, and it was trending, other projects came along like Ethereum but it wasn't the same.

Not all cryptocurrencies are decentralized as Bitcoin. Majority of them are centralized and can be controlled by the developers or platform that owns it. Although some of them have promised to become fully decentralized as they continue to expand. And one of those that has promised to become fully decentralized is Solana, and I believe that they are getting to that stage now.

But, even at that they wouldn’t still come any close to Bitcoin, it is always going to be the topping the cryptocurrency market and that is the cryptocurrency most people are making sure that they invest in. As for the other cryptocurrencies, you just invest whatever little amount that is left in them.

[andeluna]

in my opinion Bitcoin is the first crypto currency that already built and make its foundation to be the center of all crypto currency and alt coins in the market but even if its the center or having a higher value crypto, its possible that someday one altcoin will replace the bitcoin because we can't analyze the price movement of all the crypto currency in the market because of its volatility. We all know that.

[mildmanneredsuffering]

every retard on earth thinks the news and the press is legit. thats why you think bitcoin is so great because the press tells you it is. technically, economically, and most other metrics,  bitcoin in no way can be considered the best cryptocurrency even available right now.  only actual low iq victims of the press agree with such nonsense

[Joyawan13]

The crypto world perhaps bitcoin is the most unique, is the first created coin, is the most fully decentralized coin on the market. This asserts that bitcoin is an inviolable asset that can only be used by the holder of the key. Unlike bitcoin, today's altcoins are not fully centralized, so security is not as guaranteed as bitcoin.

Yes, bitcoin is the first created coin that was fully recognized as a decentralized coin, that is more unique than any other coins in the community. Bitcoin has demonstrated some positive impact to some countries that made it legalized, to feel the difference between decentralized coin and centralized fiat. Those that made bitcoin as their first choice came to discovered that, bitcoin still remain the king among other cryptocurrencies in terms of huge amount of profits making. Bitcoin is more reliable in terms of  security for long and short term investments.   

it is difficult of course for altcoins to shift or replace bitcoin which of course is unique from other altcoins, because bitcoin is in great demand by large investors to be used as their investment for a long time, and bitcoin price movements are certainly difficult to predict when the price will rise. and when to lower the price, bitcoin price movement due to market demand and price can't be manipulated by someone, even if it's a big investor they won't be able to change bitcoin price as they wish.

[retreat]

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.

in the internet world, reputation is important, especially the reputation of an asset, so far Bitcoin is more secure and remains decentralized compared to the new altcoins that appear, even the figure of satoshi is still a big question mark until now. there is no safest and most trusted cryptocurrency other than bitcoin.

[OgNasty]

First mover advantage is a pretty big one...  With crypto, it was massive and the fact that satoshi disappeared instead of cashed out his hoard like every other founder of every other altcoin was a big step in the right direction for community adoption.  Sure, there might be more useful coins out there, but no coin has the backing that Bitcoin does.  In such a distrusting environment, the trust that satoshi led the world to have in Bitcoin is something that can't be discounted.  Many people are too risk adverse to even invest in Bitcoin, so altcoins to them are like penny stocks.  Ethereum is beginning to break through the scamcoin barrier as far as public sentiment goes, but even it doesn't have the sort of adoption that Bitcoin does among major players in the financial world.

[suzanne5223]

First mover advantage is a pretty big one...  With crypto, it was massive and the fact that satoshi disappeared instead of cashed out his hoard like every other founder of every other altcoin was a big step in the right direction for community adoption. 

Yes, first mover has a big advantage that only if the potential and benefit are also vast. Even if Satoshi chooses to sell his hoard no altcoin can replace Bitcoin because it's the number one true community-driven crypto with genuine decentralization and no censorship etc. These make people to easily trust Bitcoin and supported it to the fullest.

Sure, there might be more useful coins out there, but no coin has the backing that Bitcoin does. 

There is some altcoin with powerful concept and they didn't get enthusiast or community backing because most of the team involve created them to fill their bag.

In such a distrusting environment, the trust that satoshi led the world to have in Bitcoin is something that can't be discounted. 

This is the reason why the government can not break the bond people had for Bitcoin and its also the reason why no altcoin can replace Bitcoin.

[tygeade]

Not all cryptocurrencies are decentralized as Bitcoin. Majority of them are centralized and can be controlled by the developers or platform that owns it. Although some of them have promised to become fully decentralized as they continue to expand. And one of those that has promised to become fully decentralized is Solana, and I believe that they are getting to that stage now.

But, even at that they wouldn’t still come any close to Bitcoin, it is always going to be the topping the cryptocurrency market and that is the cryptocurrency most people are making sure that they invest in. As for the other cryptocurrencies, you just invest whatever little amount that is left in them.

That decentralization is not the "main" reason why they can't get close. Don't get me wrong, that is a very big deal but the fact that bitcoin has been here the longest and caused a big love from the people, is the main reason. We can see that bitcoin doesn't have the best blockchain, no smart contracts, not even cheap after so many developments, no nft, no meta, no new things.

Just plain old bitcoin that you could buy and sell, you really do not do much else with it. Why then it is the biggest? Because of love, people love it the most for sure and trust it the most. This requires a lot more than just technology or the system to break, you need a lot more than that to make people not love it as much.

[DoublerHunter]

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.

^ Because BTC is a true example of a decentralization coin and no one does the same, most altcoins are centralized and we know that matters.
Another factor is, that BTC has been around and every coin has a BTC pair on an exchange, so it is impossible that there were other altcoins that will replace the BTC. Considering people BTC is the king of all cryptos, so many people believe in the network that is used by BTC not the other networks as you have said above. BTC is unique that is very simple and no one can even change or break the code.

[stepwilli]

It is the first cryptocurrency and when something is the first, it is always very hard for it to be beaten by others that comes after it. There are so many cryptocurrencies in the market , we have over ten thousands of them today, but to me I do not think that any of these cryptocurrencies would be able to take over and become the number one cryptocurrency in the market.

I see it that Bitcoin is still going to stay as the number one, while other cryptocurrencies are just going to be there as an alternative. And yes we all know that all these alternative cryptocurrencies were released to be a better version of Bitcoin and offer features that is not available in Bitcoin, but despite all that Bitcoin still stays at the top.

[laurenB7742]

Because most of the altcoins are created from bitcoin, and controlled by a specific organization.
The base of most altcoins is not as strong as that of bitcoin, and a small number of altcoins are formed from the fork of bitcoin.

So tell me, who will people trust more?

Who is Bitcoin or those who were created much later? Bitcoin, of course.

Besides, altcoins are somehow seemed like custodial services, Bitcoin is the only coin that is most trustworthy.

[GeorgeJohn]

Bitcoin is the most reliable cryptocurrency and has been the pioneer of blockchain technology, altcoins are produced based on the benchmark bitcoin built for cryptocurrency. So, while there have been innovations developed by altcoins in different blockchains that have solved some of the challenges bitcoin is attempting to tackle, I don't believe any altcoin can completely replace Bitcoin.

You are absolutely correct, while no altcoins will supercedes the values of bitcoin is because their are under Bitcoin and bitcoin has more relative abundance than any of them, as you said that they are reliable, "yes" because during investment bitcoin can only decreased in value but can't give off in the market, while some altcoins can be rusticated in the line of prolonged investment, so if replacement of bitcoin to altcoins will take place is not something of twenty years time

[ultrloa]

Bitcoin is the most reliable cryptocurrency and has been the pioneer of blockchain technology, altcoins are produced based on the benchmark bitcoin built for cryptocurrency. So, while there have been innovations developed by altcoins in different blockchains that have solved some of the challenges bitcoin is attempting to tackle, I don't believe any altcoin can completely replace Bitcoin.

You are absolutely correct, while no altcoins will supercedes the values of bitcoin is because their are under Bitcoin and bitcoin has more relative abundance than any of them, as you said that they are reliable, "yes" because during investment bitcoin can only decreased in value but can't give off in the market, while some altcoins can be rusticated in the line of prolonged investment, so if replacement of bitcoin to altcoins will take place is not something of twenty years time

They are not totally under with bitcoin but they are over shadowed by the fame of bitcoin since when people talk about crypto bitcoin will go first to be discussed so as long as there's no other altcoin will defeat its fame and trust to its institutional investor we can say for now that there's no other altcoin around will replace bitcoin.

And all of them will just follow how bitcoin pump and how it dumps.

[GeorgeJohn]

They are not totally under with bitcoin but they are over shadowed by the fame of bitcoin since when people talk about crypto bitcoin will
go first to be discussed so as long as there's no other altcoin will defeat its fame and trust to its institutional investor we can say for now that there's no other altcoin around will replace bitcoin.

it's very obvious that  Bitcoin gives rise of altcoins, because is quit comprehendable and understandable that without the existence of bitcoin today altcoins won't have gain values, and according to your own point of view via bitcoin and altcoins, i want you to answer me categorically while without the acceleration or elevation of bitcoin in cryptocurrency market sphere, altcoins will not on their own get potential acceleration in market? I need just two reasons.