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Author Topic: How long before BTC overtaken by another cryptocurrency?  (Read 2094 times)
kelsey
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May 06, 2014, 01:12:59 AM
 #41

None of late from this niche community will overtake bitcoin, however something commercial may in the longterm. Most the flavors of the week here will die.

I also think (and maybe called crazy here for doing so) longterm ltc could surpass btc (just from an investors on the street point of view due to fairness, well percieved fairness).

LTC fails on it's original goal of being ASIC resistant. I'm sure that would deter investors from further putting their money in the coin, as it's value would only go down over time...look at the charts, it's already went down over 30%.

Most of those old coins are not doing so well, Peercoin, Primecoin, Litecoin, there prices are only getting lower as people lose interest and move away from them.

It's the new coins like Darkcoin, that would end up taking the lead and the spot right next to Bitcoin.



You're talking from the point of view of this little niche crowd, both BTC and LTC are heading wallstreet investors. They don't care about mining whatsoever. BTC will have a ETF in a year + then there is a followup LTC one. thats when the scene will really heat up.

BTW LTC was never designed to be ASIC resistant, ASIC was a non issue at the time of LTC creation.
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May 06, 2014, 01:18:53 AM
 #42

HoboNickels!
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May 06, 2014, 01:33:31 AM
 #43

Btc will not be overtaken any soon, minor time of corfirmation, proof of stake and all that minor features will not overtake bitcoin.. to overtake bitcoin someone needs to write a new code totally different.. all the alts outhere are the same bitcoin code just with some modifications
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May 06, 2014, 02:20:57 AM
 #44

I think it may be DARKCOIN! It may take 1 yr or 2.
Blackcoin said the same thing not so long ago (I once believe it could, because of PoS). Maybe NEM, maybe Sharecoin. Maybe Monero. But certainly not Darkcoin (because Monero is better at everything Darkcoin is doing and Zerocash might be even better for the anonimity part). And two more reason why darkcoin won't replace BTC: first because such a name is an invitation for public refusal and because tracability is required in a lot of things (like public spending), so an anonymous crypto would not replace a traceable crypto.

what is NEM?
NXT done better. Fairer distribution, more features. It has not been released yet, some stakes will be auctionned since the initial several-weeks IPO is over.

The "market cap" of the top 100 alts together are not even close (<10%, and from this 10% LTC takes 5%) of the BTC market cap. Apart from NXT (and it's clones) none of them offers any significant improvement over bitcoin.
You forgot about Cryptnote-based coins (Bytecoin, Bitmonero, Monero and HoneyPenny and probably much much for in the future since Cryptonote is so much open-ended). Plus, NEM is not a NXT clone, even though its initial goal was to be a relaunch with fairer distribution (I can't talk for the other NXT "clones").
None of the alts have any significant real world services (you can't even buy a single banana or a gallon of petrol for DRK). Until an alt doesn't have good services - good means services what you need in you daily routine - all of the stuff above are just dreaming.
Agree. The financial world seems to forget that primary use of a coin is not to make them rich, but to be used by the 99,98% of the population that is actually doing something useful.

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XScrypt
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May 06, 2014, 04:24:44 AM
 #45

Agree. The financial world seems to forget that primary use of a coin is not to make them rich, but to be used by the 99,98% of the population that is actually doing something useful.

The primary use of a CURRENCY is a medium of exchange. Bitcoin and related cryptos behave more like COMMODITIES. Actually, they behave even worse than commodities since there is nothing to control them and no oversight. This leads to wild fluctuations in values which, understandably, is a turn off for a lot of businesses (especially now that the law has been clarified on how bitcoins are treated).

More on topic, Bitcoin will remain king of the hill for a while since it is the most well established crypto. Everyone has heard of Bitcoin. It would take a group with considerable financial backing and a really good team to dethrone Bitcoin. Unfortunately, everyone and their uncle have created a veriatable Niagra Falls of turd coins hoping to get rich quick. No innovation. No serious groups. No serious backing. Maybe one of the X11 coins might gain enough ground eventually.

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TheCloser
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May 06, 2014, 04:44:44 AM
 #46

None of late from this niche community will overtake bitcoin, however something commercial may in the longterm. Most the flavors of the week here will die.

I also think (and maybe called crazy here for doing so) longterm ltc could surpass btc (just from an investors on the street point of view due to fairness, well percieved fairness).

LTC fails on it's original goal of being ASIC resistant. I'm sure that would deter investors from further putting their money in the coin, as it's value would only go down over time...look at the charts, it's already went down over 30%.

Most of those old coins are not doing so well, Peercoin, Primecoin, Litecoin, there prices are only getting lower as people lose interest and move away from them.

It's the new coins like Darkcoin, that would end up taking the lead and the spot right next to Bitcoin.



You're talking from the point of view of this little niche crowd, both BTC and LTC are heading wallstreet investors. They don't care about mining whatsoever. BTC will have a ETF in a year + then there is a followup LTC one. thats when the scene will really heat up.

BTW LTC was never designed to be ASIC resistant, ASIC was a non issue at the time of LTC creation.

This is the truth. The fact is if the outside world is adopting a virtual currency they can care less about the way it's mined. Only miners give a crap about all these algorithms and what each coin does, but at the end of the day, smart money is invested in BTC and LTC. Too much money is invested in infastructure now to let these two fail. All this other crap we make up is to find the quickest way to add up decimal points to = 1 BTC.
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May 06, 2014, 04:46:37 AM
 #47

Are any places accepting darkcoin right now?

I know there are places accepting blackcoin, litecoin, dogecoin, and vertcoin.
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May 06, 2014, 04:56:15 AM
 #48

The primary use of a CURRENCY is a medium of exchange. Bitcoin and related cryptos behave more like COMMODITIES.
Could you explain better what a commodity is? This word has no accurate translation in my language and I've never been able to really understand what a commodity is and is not (I think a commodity is something you take for granted and has negligeable value as a consequence, like air or electricity).

Thank you.

BTC will have a ETF in a year + then there is a followup LTC one.
What's an ETF and what it does matter?[/quote]
BTW LTC was never designed to be ASIC resistant, ASIC was a non issue at the time of LTC creation.
Right, it was meant to be GPU-resistant.

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May 06, 2014, 05:57:44 PM
 #49

''insert shitcoin name here'' will overtake bitcoin for sure.

haha

''insert shitcoin(only 95% of all coins) name here'' will overtake bitcoin for sure.

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May 06, 2014, 08:48:56 PM
 #50

It is a matter of time for BitCoin to be dethroned. Giant companies like IBM, Nokia were dominating a technological area in the past and now have almost vanished in this field. BitCoin is a dinosaur that does not evolve and should follow their path. Evolution in cryptography, p2p networks is so fast that BitCoin will soon belong to the stone age of cryptoeconomy.

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May 06, 2014, 08:54:14 PM
 #51

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winnipegc
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May 06, 2014, 11:22:39 PM
 #52

''insert shitcoin name here'' will overtake bitcoin for sure.

lol

How about:

x will overtake bitcoins
where x = the name of the shitcoin you own the most of
var53
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May 06, 2014, 11:25:01 PM
 #53

It is a matter of time for BitCoin to be dethroned. Giant companies like IBM, Nokia were dominating a technological area in the past and now have almost vanished in this field. BitCoin is a dinosaur that does not evolve and should follow their path. Evolution in cryptography, p2p networks is so fast that BitCoin will soon belong to the stone age of cryptoeconomy.

Yeah, when big time business moves in and invests billions in developing something new.
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May 06, 2014, 11:34:44 PM
 #54

And if the bitcoin goes to the moon another time will be less likely to be overtaken
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May 07, 2014, 12:04:40 AM
 #55

''insert shitcoin name here'' will overtake bitcoin for sure.

lol

How about:

x will overtake bitcoins
where x = the name of the shitcoin you own the most of

Ya pretty much this.

Bagholder fest right here.
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May 07, 2014, 12:08:19 AM
 #56

There is NO coin on the market yet that will overtake BTC, but never say never
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May 07, 2014, 12:43:07 AM
 #57

cash or money is an institution, just ask yourself in what terms you rate the price of any coin except bitcoin and you'll get the answer if and when bitcoin is overtaken. in my opinion this will not happen.
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May 07, 2014, 01:56:32 AM
 #58

The only cryptocurrency that costs more than Bitcoin is 42Coin. If a coin wanted to overtake Bitcoin, it might have to go through that coin first.
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