Re: Will Bitcoin be replaced by another cryptocurrency?
Advertised sites are not endorsed by the bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
Legendary Offline
Activity: 1162
Does it make sense to believe that bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make bitcoin obsolete?
In my view, BTC will eventually be replaced as the number 1 crypto in terms of market cap. But that’s it… I wouldn’t go too far by saying that Bitcon will eventually die anytime soon.
In terms of marketcap gap yes there are some that hs potential to beat up bitcoins but in terms of popularity no coins will replace bitcoin
So you think that there isn’t any coin that could take bitcoin out? I have to disagree because the Altcoin volume is large compared to the ones with bitcoin. Total up the whole Altcoin volume then comparing it to Bitcoins daily volume and you’ll see a bunch of money that is just floating around in cyberspace. I am pretty sure that something will replace bitcoin because there is more money laying around in the world that people haven’t even circulated yet. So if the Governments just quit printing money, then digital payments will start to begin in full effect.
If the governments quit printing money, it might become a bad thing to them because there will not have enough money to pay people that work for them. Government mostly print more money to decrease the unemployment rate of the country. Even when they quit printing money and we start using digital payment more, they will have to add up more and more digital money because like you said, not all money are being circulated.
People in general have savings account and the more they earn money, the more money goes to their savings accounts. That means more money goes out of circulation
Some people are savers, some people are even hoarders
But the majority of people are still spenders, and they mostly live paycheck-to-paycheck. Saving money as money is pretty meaningless given the inflation rates while the amount saved is more or less constant, depending on a host of factors. What I mean to say is that the percentage of money that government prints due to people saving money should be relatively small. Governments (through commercial banks) typically start issuing more money when the national economy is expanding. In fact, they don’t even need to deliberately start the printing press. Money is created inside the system on its own via demand for money (e.g. businesses looking for credit to expand production)
Newbie Offline
Activity: 23
bitcoin was created for a reason, so I doubt it would be replaced in the near future for some other cryptocurrency. Of course the rest of the altcoins would try their hardest to also be on top ever since bitcoin became popular. And though there are a lot speculations that a certain altcoin is almost replacing bitcoin, but the question is its market value. Would it stay on top like the bitcoin? We can’t predict the future but we’ll see what happens in the next 2-4years.
Newbie Offline
Activity: 1
What are people’s thoughts on Tez0s? Is sharp money behind it?
There’s no point to replace it. I don’t think that bitcoin can or should be the best crypto on all levels though. Let bitcoin do the one thing that it’s best at. Other coins will compete for the rest.
Yes, there’s no point and need for replacing bitcoin with another one. Most of the people are going to stay with bitcoin and will treat other alts as for trading and gambling purposes only. While bitcoin is going to be the main crypto currency which can be good for different transactions that they wish to use.
bitcoin will be the most popular crypt currency in the online world, believe me people are putting their money in bitcoin and we have seen how strong this currency is right now. After it was almost lost it’s value it has survive and break the all time high. That is something people.
Those people that are holding bitcoin and pulls out are starting now to migrate to ETH and loves the way of smart contracts. I just don’t know what’s in their mind but it doesn’t mean that it will replace bitcoin but maybe they are trying something new and thinks that it will be more profitable for them if they are going to migrate there.
The price increase in Ethereum were just bubbles and just a migration due to panic on the potential crash of bitcoin when the split will occur between the core and the hardfork. But soon when the price of bitcoin will again increase and the market goes lively again after surviving the current internal problems those who invested in ethereum will be going back to bitcoin.
I agree with you, bitcoin was the leader and will remain the leader. Now there is no crypto currency, which can replace bitcoin. And I doubt that in the future there will be an alternative coin that will replace bitcoin
Does it make sense to believe that bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make bitcoin obsolete?
I think no atleast for next ten years.Unless bitcoin itself suffers from some critical issues and get destroyed,no other altcoin could replace bitcoin.bitcoin is a protocol for sending values and it satisfies all requirements to be a bonafide protocol.Its highly impossible for other altcoins to replace bitcoin today.
Very precisely, even though many altcoin that are always popping up. The existence of the bitcoin will always be above, because it is bitcoin is a digital currency that first provides convenience and security that is better than the previous. And because it is already a lot of people that feel comfortable when using bitcoin. It is true of all the things that exist in the world this could not last long, but it also depends on the problem at hand. If indeed the problem faced is simple, then it will not make a bitcoin destroyed
I also think that bitcoin is a leader and it will not be replaced by any crypto currency. He is the most popular. Many people have confidence in him. I can not imagine a situation in which people will start trusting another Cryptocurrency
[wpr5_ebay kw=”bitcoin” num=”1″ ebcat=”” cid=”5338043562″ lang=”en-US” country=”0″ sort=”bestmatch”] By CashlessWay – Global Hub for ePayment Culture on 2014-06-28 09:38:52
bitcoin sign at Sawmill, Stratford, London E15 By Kake . on 2014-03-01 10:50:17[wpr5_ebay kw=”bitcoin” num=”1″ ebcat=”” cid=”5338043562″ lang=”en-US” country=”0″ sort=”bestmatch”]
Wells Fargo Lawsuit Shows Banks Still Doubtful of bitcoin: Report A lawsuit involving Wells Fargo and Hong Kong-based bitcoin exchange Bitfinex shows that banks remain hesitant when it comes to taking part in the world […]
