What if the second Satoshi appears?

[Wend]

Right. Satoshi Nakamoto created Bitcoin. He's a genius. Bitcoin systems and communities are working perfectly, and everyone is crazy about Bitcoin. But what happens if someone creates a blockchain that is faster and better than Bitcoin and puts it out into the world without any greed, as Satoshi did? Are people going to ditch Bitcoin away? In that moment, we're going to see a blockchain that's performing better than Bitcoin and is perfect for decentralization that everyone emphasizes. What will happen?

Anything can happen in this free world, and the competition is fierce. If we come across a new project that's better than Bitcoin, people might invest in it, and Bitcoin could gradually lose its popularity until the market declines. But that's a worst-case scenario, my friend. Personally, I don't worry about the future because it's all uncertain. My advice is to enjoy the benefits Bitcoin offers while we can. If the time comes for it to be replaced, we'll have enough to invest in a new project.

Why do you consider that the worst case scenario? If that happens, we should be happy because we will get a more perfect version of bitcoin that will bring greater benefits to us. After all, Satoshi created bitcoin because he was fed up with the way governments ran the world, the devaluation of fiat currencies...so he created bitcoin to overcome those shortcomings. And if someone inherits Satoshi's thinking to create something more perfect, why do we consider that a bad thing?
But you're right, that hasn't happened yet and we only have bitcoin for now, so enjoy bitcoin while waiting for a better version of bitcoin.

[NeuroticFish]

I don't think it's that simplier. Why hasn't Monero changed bitcoin? Monero has absolutely everything that Bitcoin lacks, Monero fulfills every demand of bitcoin users: privacy, security, decentralization, asice resistance. Because of these features, I thought Monero was the best investment option and would become more popular and expensive than Bitcoin but I was wrong. Maybe I am blind but I would love to hear what makes bitcoin a better than Monero?

Monero is a great coin, I like it too. But imho it's, by far, less secure than Bitcoin. Monero doesn't have the huge mining businesses built around it and there used to be words here and there about botnets mining it, which have the potential of gathering too much hashing power in one organization's hands. And because of this, Monero is not a strong enough competitor to Bitcoin.

Thank you for this reply. But the truth is that there are other Blockchain technologies that are likely to be faster than the Bitcoin technology and probably even more profitable to small investments, but unlike you say, that does not take a way the technology built by the founder of such invention as any other genius building a similar digital currency will have to tap those ideas from Satoshi's Bitcoin.

Just faster and maybe sometimes (!) more profitable is not good enough. And Bitcoin's security is harder to beat every passing day.
Ethereum came with smart contracts. Monero came with privacy. But they are not a significant (or significant enough) leap forward from Bitcoin. And they didn't gather the proper mining support for becoming bullet proof from security point of view.

All you just need to do is to contribute to the already existing system through the open source and Bitcoin can be better by your contributions.

Of course that this is the most straightforward way to help. Ideas like what Satoshi had don't come every decade.

[stadus]

Right. Satoshi Nakamoto created Bitcoin. He's a genius. Bitcoin systems and communities are working perfectly, and everyone is crazy about Bitcoin. But what happens if someone creates a blockchain that is faster and better than Bitcoin and puts it out into the world without any greed, as Satoshi did? Are people going to ditch Bitcoin away? In that moment, we're going to see a blockchain that's performing better than Bitcoin and is perfect for decentralization that everyone emphasizes. What will happen?

Anything can happen in this free world, and the competition is fierce. If we come across a new project that's better than Bitcoin, people might invest in it, and Bitcoin could gradually lose its popularity until the market declines. But that's a worst-case scenario, my friend. Personally, I don't worry about the future because it's all uncertain. My advice is to enjoy the benefits Bitcoin offers while we can. If the time comes for it to be replaced, we'll have enough to invest in a new project.

Why do you consider that the worst case scenario? If that happens, we should be happy because we will get a more perfect version of bitcoin that will bring greater benefits to us. After all, Satoshi created bitcoin because he was fed up with the way governments ran the world, the devaluation of fiat currencies...so he created bitcoin to overcome those shortcomings. And if someone inherits Satoshi's thinking to create something more perfect, why do we consider that a bad thing?
But you're right, that hasn't happened yet and we only have bitcoin for now, so enjoy bitcoin while waiting for a better version of bitcoin.

OP asked if people would get rid of their Bitcoin if something like this happened. I think it's the worst situation for investors because just imagine, Bitcoin is already worth more than $600 billion in marketcap, and all that money could disappear if a new cryptocurrency or a better one is created.

I'm open to making changes to improve the system, but we should also be prepared for when that time comes. We're not just holding onto Bitcoin for no reason. It's important to get our investment back and maybe even make some profit before Bitcoin loses its value.

[mv1986]

Right. Satoshi Nakamoto created Bitcoin. He's a genius. Bitcoin systems and communities are working perfectly, and everyone is crazy about Bitcoin. But what happens if someone creates a blockchain that is faster and better than Bitcoin and puts it out into the world without any greed, as Satoshi did? Are people going to ditch Bitcoin away? In that moment, we're going to see a blockchain that's performing better than Bitcoin and is perfect for decentralization that everyone emphasizes. What will happen?

Let's think a little. Do you still use your old Nokia from 1998? I guess not, although 2G is still supported by the GSM network.
If something better, faster, safer it's invented, it has the potential to replace Bitcoin.

But keep in mind that for this it also has to be at least as profitable to mine as Bitcoin is, else the miners will not change, hence the network safety (for the new coin/system) may not become safe enough.

It would also have to be a technology that Bitcoin could not implement because Bitcoin has something that many of the other contending networks lack and that is a vibrant, global and continuously growing ecosystem. This won't just be ported to a different network. So maybe this new technology pulls miners / part of the network over from Bitcoin, but for how long will the new network offer competitive profitability when whatever the rewards are to maintain the network have to be shared by a growing pool of contributors?

There is a lot of things that would have to happen in order for Bitcoin to be replaced. It would have to be something entirely new that Bitcoin itself could not integrate into its protocol and at the same time boast incentive structures that offer rewards which sustainably outcompete what Bitcoin has to offer. I think Satoshi ha worked something out that's here to stay for a while. But of course in the field of technology, many things are just a question of time.

[Sophokles]

Right. Satoshi Nakamoto created Bitcoin. He's a genius. Bitcoin systems and communities are working perfectly, and everyone is crazy about Bitcoin. But what happens if someone creates a blockchain that is faster and better than Bitcoin and puts it out into the world without any greed, as Satoshi did? Are people going to ditch Bitcoin away? In that moment, we're going to see a blockchain that's performing better than Bitcoin and is perfect for decentralization that everyone emphasizes. What will happen?

There are already lots of blockchain networks that are faster and cheaper than bitcoin. Look at all of its hard-forked coins. Every time dev saw a problem with the bitcoin network and they couldn't change the core network they tried to create a fork that could work better than bitcoin. Are they more popular than bitcoin right now? There are some obvious reasons why bitcoin is still dominating.

What satoshi nakamoto created was unique and any upgraded version of his idea will not get the recognition that bitcoin has. Bitcoin was created to give people financial freedom. If someone comes up with a better idea that can reach this goal in a better way then there is no point in using that instead of bitcoin but it needs to be unique, not an idea copied or inspired by bitcoin. With a new technology and concept we can have a bitcoin competitor, but do we really have that technological advancement now? I don't think so.

[nakamura12]

I don't know why you are asking that question but as you can see when Bitcoin started noticed by people and now many people are using it but when they use it they have something they want like much faster transaction getting confirmed and that's the start of new cryptocurrency being created and it is now called altcoin or as an alternative of the current crypto called Bitcoin. Of course, that altcoin have its own blockchain.  I am sure if you make some research then you'll see that there are other crypto that have their own blockchain or doesn't depend on other blockchain just like tokens where it depends on ethereum own's blockchain.