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Author Topic: In the world, there are only two types of coins: Bitcoin and other coins  (Read 161 times)
shanhaigamefi (OP)
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June 20, 2024, 06:57:27 AM
 #1

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?
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June 20, 2024, 07:11:46 AM
Last edit: June 20, 2024, 11:05:36 AM by _act_
 #2

People have tried to create second bitcoin. Example is Bitcoin Cash. Another example is Bitcoin SV which the SV means Satoshi version. All of them were created by Fatoshi and others people. They are regarded as altcoins since when they were created till today. All other coins that are not bitcoin are altcoins. Two bitcoin can not exist in this world.

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June 20, 2024, 07:14:16 AM
Last edit: June 20, 2024, 07:28:20 AM by Davidvictorson
 #3

There will not be a second Bitcoin because bitcoin is the first and most successful decentralized cryptocurrency and so far no other currency has come close to it in this position . Secondly bitcoin supply of 21 million coins limit makes it very strong and no other cryptocurrency has these feature. Thirdly, due to it massive mining network, bitcoin has a high level of security and decentralization around it which cannot be seen in the others. I don't think any other cryptocurrency comes close. Lastly, unless a second bitcoin will become a good store of value, then I don't think that there is ever going to be a second bitcoin.

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June 20, 2024, 07:15:56 AM
 #4

People have tried to create second bitcoin. Example is Bitcoin Cash. Another example is Bitcoin SV which the SV means Satoshi version. All of them were created by Fatoshi and they are regarded as altcoins since when they were created till today.

Um.... no.

Bitcoin SV was created by Craig Wright, the faketoshi, but the others were not.

We have Bitcoin Cash which was made by Roger Ver and a bunch of mining elements like Bitmain and Jihan Wu, Bitcoin XT made by Mike Hearn a former developer of Bitcoin Core, and then there are other forks like Bitcoin Gold, Bitcoin Unlimited, etc created by even more people.

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June 20, 2024, 07:36:32 AM
 #5

The closest coin that could become second Bitcoin is Litecoin.

Both of them are open source, using the same cryptography mechanism (Proof Of Work), and decentralized. It just that Litecoin is quite vulnerable against 51% attack since the difficulty and the price aren't as high as Bitcoin.

If Bitcoin already reach into the level where people can't afford to buy the fraction, they might shift to Litecoin.

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June 20, 2024, 08:00:30 AM
 #6

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?
So far bitcoin is unique, the rest of the market has no bright candidates that can compete or will become as great as bitcoin. But our world is constantly evolving and we cannot predict what will happen in the future. Satoshi was able to create bitcoin and bring surprise to all humanity, so I wouldn't rule out the possibility that someone will create something great or better than bitcoin in the future. But it's about the future, things that haven't happened yet, what we need to focus on now is bitcoin and it is unique.
Grateful and thankful to Satoshi, focusing on bitcoin are things I think we should focus on instead of thinking about things that are not possible or have not happened yet.

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June 20, 2024, 08:10:58 AM
 #7

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?

If it was possible you would have already seen so many coins that would have replaced Bitcoin since before now, however Bitcoin is like the mother of every other cryptocurrency and that means that no matter the amount or the number of coins that are being created on a daily basis will never have chance to compete with Bitcoin, however it was after the establishment of Bitcoin other coins come in play so on the contrary every other cryptocurrency is actually taping from the progress of Bitcoin, perhaps that's the reason why whenever the price of Bitcoin is dropping you will see every other cryptocurrency prices also dropping drastically, so how would you expect any coin to replace Bitcoin when there growths actually depends on Bitcoin.

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June 20, 2024, 08:47:18 AM
 #8

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?

Did you forget to look at this site? https://coinmarketcap.com/ there are lots of good coins listed there and one of them could has a potential to get if not the same then close to the growth what bitcoin achieve.

There are so many people acquiring the top alts especially on those listed at top 2 and 5(excuse USDT in that list).

So the only thing people doing is the monitoring of the growth of those tokens and some is starting to accumulate to see if there would be a changes to come then see if they can earn huge once there's a big price increase will happen.

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June 20, 2024, 09:00:56 AM
 #9

I agree with you on that. There's big sharks and small fish, no in between.
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June 20, 2024, 09:52:12 AM
 #10

People have tried to create second bitcoin. Example is Bitcoin Cash. Another example is Bitcoin SV which the SV means Satoshi version. All of them were created by Fatoshi and they are regarded as altcoins since when they were created till today. All other coins that are not bitcoin are altcoins. Two bitcoin can not exist in this world.

I agree. I mean, Bitcoin is a revolutionary technology already. It will take another 10 years for everyone who can think, who can use their brains properly, to realize how amazing it is, how helpful it is to the world. Will there be a better technology somewhere in the future? Maybe. But not earlier than a hundred years from now. That's why we have all the right to be saying during our life-time: "Two bitcoin can not exist in this world.".

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June 20, 2024, 10:03:42 AM
 #11

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?

It's the prime mover so I don't know if we will ever to see another coin that has so much influence in the crypto market that it has 50% control of the market cap (more or less), and people up to this day are talking about it more than 10 years from it's inception.

And another is the enigma that Satoshi Nakamoto has brought it as the inventor of Bitcoin. And that's why there are fake Satoshi out there, many of them claiming because of the aura of that name. So I guess everyone will agree that there will be no second Bitcoin no matter what other crypto projects are going to released in the future and claiming that they're the next big thing or whatever.

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June 20, 2024, 10:58:56 AM
 #12

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?
This has been a discussion for a very long time. Bitcoin is Bitcoin and as you've said there are two types of coins, if it's not BTC then they're altcoins. However, there is this wrapped version of BTC that they keep on making but it's still an altcoin and not Bitcoin because it runs through a chain or another network for which Bitcoin, the real one isn't there.

There must be only one Bitcoin and there won't ever be another Bitcoin. I guess that this is different from the typical discussions about the "next" Bitcoin that many altcoin enthusiasts are talking about. So, settle with that. Bitcoin is going to remain as-is and the rest that are not BTC will be altcoins or any of their kinds.

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June 20, 2024, 11:01:24 AM
 #13

There will never be a second Bitcoin, not with the original Bitcoin, perhaps after a long time. If something happens that causes Bitcoin to disappear from the world forever, perhaps only then can there be a second Bitcoin.

But at the present time, even if there is a Bitcoin that is very similar and comes close to the characteristics of the original Bitcoin, it will still be called Altcoin, as happened with many currencies that were created to be an alternative to Bitcoin or the hardforks that resulted from the split of Bitcoin, all of which became Altcoin.

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June 20, 2024, 11:09:43 AM
 #14

People have tried to create second bitcoin. Example is Bitcoin Cash. Another example is Bitcoin SV which the SV means Satoshi version. All of them were created by Fatoshi and they are regarded as altcoins since when they were created till today.

Um.... no.

Bitcoin SV was created by Craig Wright, the faketoshi, but the others were not.

We have Bitcoin Cash which was made by Roger Ver and a bunch of mining elements like Bitmain and Jihan Wu, Bitcoin XT made by Mike Hearn a former developer of Bitcoin Core, and then there are other forks like Bitcoin Gold, Bitcoin Unlimited, etc created by even more people.
I know that Roger Ver create Bitcoin Cash and that Craig Wright created Bitcoin SV while also claiming he created bitcoin which makes him the Fatoshi and the battle (of his lies) was finally lost in a court in London or so few months ago. I made a mistake by calling them all Fatoshi. I have edited it. Thanks for the correction.

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June 20, 2024, 12:59:06 PM
 #15

I do feel that Bitcoin is on a league of its own right now.. I has long surpassed other coins.. I really don't think there will be another Bitcoin. It has already made its stand and will continue to grow higher and this is because there is no monopoly control over it.
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June 20, 2024, 01:01:24 PM
 #16

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?

Every other altcoins are plagiarized version of bitcoin, it was after the introduction of bitcoin that led to the development of many of these cryptocurrencies a d they cannot offer up to the expect Bitcoin gives, for now, none can be compared to bitcoin and we cannot say of the future, while bitcoin remains the most trusted and decentralized digital currency and network in cryptocurrency, there is none for now to compete to the standard or relevance of what it has created, maybe in generations to come we may see something new, but for now, nothing.
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June 20, 2024, 04:23:09 PM
 #17

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?
Bitcoin is unique, there is only one Bitcoin with 21 million bitcoins in total supply and they will all exist in 2140.

Other Bitcoin projects are Bitcoin forks, they are altcoins and most of them don't have quality like Bitcoin. Adoption for these altcoins is low and they have very low quality, value and price on the market.

How many Bitcoin forks are there?
How many cryptocurrencies have failed. We can say "How many altcoins have failed?" too.

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June 20, 2024, 04:46:57 PM
 #18

will there ever be a second Bitcoin?
"Second bitcoin" is kind of paradox, don't you think? It should automatically be a shitcoin too.

What we need (and is possible to exist) is innovation. Something new. Something fresh. With ideas that can address all shortcomings in Bitcoin and bring something new to the table.
For example I always found Directed Acyclic Graph (DAG) coins innovative and interesting (coins like IOTA, Nano, and Obyte) but they never got to anything interesting enough to be able to solve any issues. And these projects all have certain flaws including centralization and premine. But at least, they are different and innovative without repeating the same thing trying to create "second bitcoins"; and that's what we need.

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ancafe
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June 20, 2024, 06:56:03 PM
 #19

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?
Do you think there will be another coin that can compete with bitcoin and if that is the question then I think it is impossible. But in terms of market capitalization, there is actually ETH as a competitor but it is not able to surpass Bitcoin in terms of price. It is certain that there will not be a second, third or subsequent bitcoin because bitcoin itself has shown reliability that other coins do not have.

Bitcoin is in a separate dimension from other coins and does not have the same place, it is not about position but rather the advantages that bitcoin brings. Bitcoin can produce different cycles within a certain period of time and bitcoin is always a force in recovering before reaching the Halving and that is why bitcoin is considered the best.
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June 20, 2024, 07:22:23 PM
 #20

The existence of Bitcoin has shown me another dimension; will there ever be a second Bitcoin?
Bitcoin was revolutionary. It was a new way of doing money, basically: a kind of money you can take part in making (mining), money without a regulated price or monetary policies, money that you can transfer and store digitally without providing any private information.
I'm sure there will eventually be another step forward in evolution of money, but for now, it will be hard to match it.

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