what if bitcoin becomes inferior

[panganib999]

I believe firmly that in the future a cryptocurrency powerful enough to take bitcoin's top spot is going to exist. And if it doesn't come out yet then that just means the world isn't ready yet. Bitcoin is great and all but it's so linear when it comes to use-case. You can only use it as a store of value, and as a way for you to transfer funds overseas which is something that most cryptocurrencies in the market could do anyway. So I say I'm pretty positive that bitcoin will be overtaken by a much more powerful crypto in the future, and that's okay. For instance, it means that the industry values innovation more than tradition, which could mean that crypto's future is going to look bright, another benefit we could take from this is of course, more chances for newer sets of crypto millionaires. See, we could only gain positive shit even if bitcoin does get to that point. Which is something that amazes me.

[wallet4bitcoin]

It is not easy to consider Bitcoin to get inferior, I understand  a particular transaction a few years ago, at the early life of Bitcoin, it was somewhat forked or something of that nature and millions of coins was created and immediately Satoshi and team worked to remedy it.

Those kind of attacks would have made Bitcoin to be considered an inferior but it has been remedied, it therefore says that it is not easy to have bitcoin as an inferior.

[HideYourKeys]

This kind of thoughts are quite common, it could be the case, indeed, but it would be very difficult to replicate something like bitcoin... we will see, but it was so well thought, that it might be worth it to expand on it instead of looking for alternatives

[ChiBitCTy]

I have always left in the possibility of bitcoin becoming an inferior coin and have always been on the lookout for such.  I think that it's entirely possible that bitcoin become a "lesser" coin, but I honestly don't think it's going to happen, or happen anytime soon.  The beautiful thing about the bitcoin blockchain is that it's programmable, and that changes can be made to help it keep up with new and innovative ways to run the blockchain.  Otherwise I would say there's no question that bitcoin becoem inferior to another plan.  Bitcoin also has the "first mover" advantage and that goes a long ways.

[Essential10]

I don't think there will be a currency to beat bitcoin. Bitcoin is emerging as a cryptocurrency with a rapid growth potential. Bitcoin may combine to spell out a bright future. As Bitcoin's unique qualities, its software variants, and new ideas emerge, BTC's update features essential data as a modern currency. While some alt coins have gained popularity in the market, Bitcoin price is out of touch. All alt coins in the market are priced based on the valuation of Bitcoin. In that case there is no question of comparing any coin against Bitcoin. The Bitcoin alternative itself.

[aoluain]

-snip-
So maybe one day a better version of bitcoin, that we have not imagined today, can be created, to put bitcoin in second place or even put it in the level to compete with altcoins. We're just analysing future events that can happen in the crypto space, but unarguably for no was we have said before bitcoin remains the cryptocurrency to beat.

Competition is good for crypto coins, so that developers can go to work on how to unseat bitcoin, it's all about innovation.

Even Bitcoin is 14 years old and since the beginning of Bitcoin there have been many other platforms that have tried to displace Bitcoin, but in the end, they will only be defeated by the power of the community and they cannot match what Bitcoin has.

There are more versions of Bitcoin that have emerged since its inception, but they have not made Bitcoin lose or even be eliminated.
Perhaps the strongest to date is BCH, but BCH is also a derivative of Bitcoin, so what does it want to prove that it is better than Bitcoin?

snip

Thats one of the strong components of Bitcoin - community and the consensus which goes with it.

So in order to beat Bitcoin a new project has to come up with something which is securer than Bitcoin,
is open source, decentralised and has the backing of firstly: Miners, Node runners and finally the
acceptance of those who are willing to accept its protocol and then to ditch Bitcoin which is PROVEN
to have all the above for something which may or may not work.

Bitcoin has history, has never been broken/hacked/successfully attacked.

[Minecache]

-snip-
So maybe one day a better version of bitcoin, that we have not imagined today, can be created, to put bitcoin in second place or even put it in the level to compete with altcoins. We're just analysing future events that can happen in the crypto space, but unarguably for no was we have said before bitcoin remains the cryptocurrency to beat.

Competition is good for crypto coins, so that developers can go to work on how to unseat bitcoin, it's all about innovation.

Even Bitcoin is 14 years old and since the beginning of Bitcoin there have been many other platforms that have tried to displace Bitcoin, but in the end, they will only be defeated by the power of the community and they cannot match what Bitcoin has.

There are more versions of Bitcoin that have emerged since its inception, but they have not made Bitcoin lose or even be eliminated.
Perhaps the strongest to date is BCH, but BCH is also a derivative of Bitcoin, so what does it want to prove that it is better than Bitcoin?

snip

Thats one of the strong components of Bitcoin - community and the consensus which goes with it.

So in order to beat Bitcoin a new project has to come up with something which is securer than Bitcoin,
is open source, decentralised and has the backing of firstly: Miners, Node runners and finally the
acceptance of those who are willing to accept its protocol and then to ditch Bitcoin which is PROVEN
to have all the above for something which may or may not work.

Bitcoin has history, has never been broken/hacked/successfully attacked.

Up to now, there is still no project that can defeat bitcoin, not because the bitcoin community is so strong and ready to stop those who want to defeat bitcoin. We are all perfectionists and would gladly leave bitcoin if a better project came along, but so far there is no project better and superior to bitcoin. Most projects are created to make profit, while bitcoin was not created for that purpose in the first place. So there will be a huge difference that leaves bitcoin with no real competition. Bitcoin was created to provide and bring solutions to us through its decentralized, privacy-focused features...Meanwhile, other projects only focus on profits and profits, and to do that they mainly pump and dump, they do not bring any practical utility. So, it will not be easy for us to have a better project than bitcoin appear.

[n00ber]

I believe firmly that in the future a cryptocurrency powerful enough to take bitcoin's top spot is going to exist. And if it doesn't come out yet then that just means the world isn't ready yet. Bitcoin is great and all but it's so linear when it comes to use-case. You can only use it as a store of value, and as a way for you to transfer funds overseas which is something that most cryptocurrencies in the market could do anyway. So I say I'm pretty positive that bitcoin will be overtaken by a much more powerful crypto in the future, and that's okay. For instance, it means that the industry values innovation more than tradition, which could mean that crypto's future is going to look bright, another benefit we could take from this is of course, more chances for newer sets of crypto millionaires. See, we could only gain positive shit even if bitcoin does get to that point. Which is something that amazes me.

I also would not be surprised if in the future a better currency than bitcoin appears and threatens its top position, as we live in an extremely fast-paced world. But what more can you expect when it comes to bitcoin's use cases? Nothing in this world is 100% perfect and we need to be satisfied with what we have. We cannot demand that everything be truly perfect when we ourselves have many shortcomings. Furthermore, there have been millions of altcoins created but none of them can threaten bitcoin so I don't think that will happen anytime soon.

[Rockstarguy]

A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?

You've raised a very good question and honestly I've never thought about this before. Just as you pointed out, the world is evolving everyday, technology is constantly been improved and newer products are developed as we've seen with automobiles, television, aeroplanes etc. However, since Bitcoin came into limelight there have been many cryptocurrencies that have sprang up, claiming to outperform Bitcoin. Most of them have disappear into thin air while some of them are in life support fighting for their dear life. So what I can tell you is that Bitcoin is here to stay and there's really not going to be any altcoin that will outperform Bitcoin.

The reason why other altcoin can never be as bitcoin is because they are just imitation of bitcoin,  trying to be like bitcoin that is why most of them ends up becoming a failed project. As far as a new innovation is trying to have the features of bitcoin,  bitcoin will always surpass it.
If their will be a new innovation that will be better than Bitcoin I won't be surprised because the world is evolving,  technology is advancing it is possible to have something as good as Bitcoin if only creating it will be in a different idea and not as that of bitcoin.

[aylabadia05]

What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?

To that person, give praise if the system created is truly superior to Bitcoin created by Satoshi.
I will do it if in testing it is able to survive more than the time predicted for Bitcoin initially.

Tens of thousands of coins came after Bitcoin was created but none could be like Bitcoin. Bitcoin one (BTC) is not as many types as altcoins. The maximum total Bitcoin is 21 million. Unlimited altcoins.

[EluguHcman]

I came to believe that first inventory (s) always remains the most reliable and quality in reputability. The phases of the initial inventory (s)  is where alternative inventories are emulated and there proffers tendencies of counterfeits of analogous
This is exactly why since Bitcoin has been a grassroot of crypto, other coins are termed AltCoins (alternative coins) meaning there are still choices after the principal.

However, I am glad that someone could have such state of thought in mind and then, I would appreciate if you can go through this recent thread I make from my local board that stresses about "The wonders, worries and how I feels about Bitcoin in general".
Read on @ https://bitcointalk.org/index.php?topic=5473557.msg63132919#msg63132919

[Antotena]

I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?

We have had countless of genius like satoshi and even smart individuals but you need to know that cryptocurrency revolves around security, decentralization and speed. Bitcoin obviously has decentralization check and confirmed, it has one of the greatest security in its blockchain but has an average speed, it cannot compete with the likes of Visa transactions that can process thousands of transactions per seconds. But that has not limit Bitcoin development, it speed has been scaled to layer two solution which have the three but it is a base layer of Bitcoin, this is to say that bitcoin is improving everyday.

Other cryptos that we have had today also build around decentralization, security and speed and despite the magic they have used, nothing has been delivered because you can't have this three working perfectly together, one has to be compromised to get others working perfectly. If you don't let go of decentralization, you have to let go of speed or security but doing so especially security will is a disaster. No blockchain is superior to bitcoin in anyway, that is why they never thought of how altcoins that we have today, bitcoin remain the best of best.

[Bananington]

o that person, give praise if the system created is truly superior to Bitcoin created by Satoshi.
I will do it if in testing it is able to survive more than the time predicted for Bitcoin initially.

Tens of thousands of coins came after Bitcoin was created but none could be like Bitcoin. Bitcoin one (BTC) is not as many types as altcoins. The maximum total Bitcoin is 21 million. Unlimited altcoins.

If it is not create by the government, it will pass through the same phase to grow into what is known and used as bitcoins and it will still experience rejection for a while, but by then bitcoins must have been at its best. Most of the creators who are trying to create something better than bitcoins have not been able to yet, because they have only been able to create more altcoins. Except it is another financial system, Bitcoin will always remain the number one in cryptocurrency.

[danadc]

I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?

For now I am not interested in having another technology, I like this one more because it does not depend on anyone, any type of government, or banks, I doubt that they will make another technology like it, because if they do it would be created for other purposes, if they enter only an elite group and only they can control it, in the meantime, bitcoin is just one of the things that continue to be so great, things will always be very good so that bitcoin continues to grow and not be controlled by anyone, that is the best and What do I like the most, for that reason I believe that things are always good, I personally will always see bitcoin as one of the best forms of Investment Above many others.

[thecodebear]

I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?

The normal analogies of first mover companies being beaten by later entrants (Yahoo vs Goolge in your post), or cars as you mentioned is a false analogy. Money doesn't get worse like a car does over time. Nor is Bitcoin a company that can be outcompeted by a newer company.

Money is a totally different thing. And the thing that makes Bitcoin unique, more so than just its actual payment processing tech, is its security, decentralization, and network.

Sure it is possible someone in the near future formulates a totally new design to a digital currency that is vastly improved over Bitcoin including security, decentralization, and efficiency. But why worry about that? Do you think people for thousands of years worried about Gold being replaced by some other metal? Also, bitcoin is code, and it can keep being improved.

And how many times have we heard people claim the solved the problem of decentralization and efficiency? Hundreds at least. And not once was it actually solved. Doesn't mean it won't ever be solved, but if it ever is, by that time Bitcoin will likely be a network of billions of people so I wouldn't worry about some new upshot money technology competing with it in the decades to come. Just enjoy the fact that we now have the best money humanity has ever created and we live in a time when most people haven't even realized it yet so we are early to the party.

[aylabadia05]

[snip]

If it is not create by the government, it will pass through the same phase to grow into what is known and used as bitcoins and it will still experience rejection for a while, but by then bitcoins must have been at its best. Most of the creators who are trying to create something better than bitcoins have not been able to yet, because they have only been able to create more altcoins. Except it is another financial system, Bitcoin will always remain the number one in cryptocurrency.

In essence, Bitcoin will be invincible as a system that uses peer-to-peer technology in its operations without a central authority. Even if someone else finds a system that is more powerful than Bitcoin, Bitcoin will still be different from the great system that person discovered.

A number of coins that already exist in the crypto space numbering in the tens of thousands with systems designed with their respective advantages cannot yet compete with the greatness of the Bitcoin system.
Without Bitcoin, all these types of coins would not exist. Bitcoin is the best even in the future.

[DaNNy001]

I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?

I think I will ask you back this same question because the answer is pretty obvious. I believe as humans we are all looking for that technology or invention that will further better our life and that is what we we have been doing through out all our stay on earth from the evolution stages you would see this clearly. Technology has been of massive impact to the lives of humans and I doubt if there would be rejection if another person with better motive create a tech that is better than Bitcoin. But there is one problem people will not just started adopting since there would skepticism to well it is over Bitcoin so it would have to speak for it self just as Bitcoin is doing over the millions of other cryptocurrency out there.

[Hewlet]

I looked for traces of Satoshi on the Internet. I've read all of his posts since 2009. He is sublime. If you read his writing, you can feel his passion. I have a little bit of bitcoin. I'm pretty relieved just to have Bitcoin. But if you look back at history.. Yahoo lost to Google. Yahoo was great, but Google was even better. Satoshi gave us a gift called Bitcoin without any greed and went somewhere. The problem is, new geniuses are born all the time, and technology advances. Bitcoin is not physics. It's blockchain technology. Which means that bitcoin is not an immutable law. A better technology than Bitcoin could emerge. What should we do if someone gives us a better system than bitcoin as a gift and leaves? It performs better than Bitcoin, and it even has the perfect decentralization of Bitcoin, which we value highly. Bitcoin was created in 2009, and now it's 2023. Cars made in 2009 cannot be better than cars made in 2023 or later. What if someone with as much genius and passion as Satoshi is creating a system better than Bitcoin?

enough of the what if this or what if that kind of question. What if it doesn't happen? The truth is that change is a normal occurrence and if it makes things easier and provides a better way of doing things, I don't think a wise and reasonable person will close his eyes to such changes. No one is saying because bitcoin is the first cryptocurrency no other cryptocurrency should exist. You should know that there are many altcoins here and there and no one is condemning or wishing it bad but it becomes bad and seriously unnecessary to want to suggest that bitcoin should go into extinction before there is a high probability of a new technology that will replace or become better than bitcoin.

[Timbulance]

Bitcoin is king.

[fuguebtc]

[snip]

If it is not create by the government, it will pass through the same phase to grow into what is known and used as bitcoins and it will still experience rejection for a while, but by then bitcoins must have been at its best. Most of the creators who are trying to create something better than bitcoins have not been able to yet, because they have only been able to create more altcoins. Except it is another financial system, Bitcoin will always remain the number one in cryptocurrency.

In essence, Bitcoin will be invincible as a system that uses peer-to-peer technology in its operations without a central authority. Even if someone else finds a system that is more powerful than Bitcoin, Bitcoin will still be different from the great system that person discovered.

A number of coins that already exist in the crypto space numbering in the tens of thousands with systems designed with their respective advantages cannot yet compete with the greatness of the Bitcoin system.
Without Bitcoin, all these types of coins would not exist. Bitcoin is the best even in the future.

I believe your type of thinking is also that of the government, they also think that nothing can be better and threaten their fiat because fiat has also dominated this world for hundreds of years. But then bitcoin appeared under their contempt until they learned that it was completely superior to fiat and it was too late to stop it .

Our world is constantly evolving and better things will always appear with time. Many bitcoin maximalists are more crazy about bitcoin than their god , but they also need to accept the fact that anything is possible. Satoshi is not the only genius in this world, and we should expect and embrace the world's development instead of expecting it to become obsolete.