Re: Will Bitcoin be replaced by another cryptocurrency?
Jr. Member Offline
Activity: 36
I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.
There is no competition for bitcoin at a moment but it can be changed in future when new technology will arrive and at that time there is a possibility that bitcoin can get replaced by other currency.
i think bitcoin is the most popular currency as majority of people are using it and as you think that in future it could be replace by new currency with the arrive of new technologies, well so i think that when in future the new technologies arrive so bitcoin will also adopt these technologies and update its self.
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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?
There is always some changes but it is very unrealistic if we talk about future. bitcoin is a good coin and there is no coin that has a great features as bitcoin, however if another coin do really overcome bitcoin then the users will be cut in half because people thinks the new one is better but unsure of it cause lot of bitcoin users will stick to what they’re used to, so it means that the coin doesn’t really overcome bitcoin but it is just been a substitute instead.
That’s only the case at the start. Everybody is afraid of embracing that is something new. Everybody wants the traditional way of things, that’s why most people still stick to using fiat even when they know that bitcoin exists. Only the risk takers and the people that do their own research are the ones that adapt change at first. The new coin can be legit with no bugs at all, in other words, a perfect coin, but not everyone will still use it. People will still doubt the legitimacy of the coin and will only start using it when they saw that other people are using it.
That’s the thing with adoption, honestly. People tend to look at other people first. If they are not doing it, then he will not do it as well. People always want to stick with the majority of the population so if the majority of the population is still using bitcoins, then other people will also continue using bitcoins even when there’s a much better coin. This is the very reason why is growth is really really slow at first and then just sky rocket at some point.
Newbie Offline
Activity: 18
I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.
There is no competition for bitcoin at a moment but it can be changed in future when new technology will arrive and at that time there is a possibility that bitcoin can get replaced by other currency.
i think bitcoin is the most popular currency as majority of people are using it and as you think that in future it could be replace by new currency with the arrive of new technologies, well so i think that when in future the new technologies arrive so bitcoin will also adopt these technologies and update its self.
although everything is possible and bitcoin can be replace by any other currency but still i will like to add that as bitcoin is still the number one currency of the world and people from all over the world are investing their money here therefore in current position not a single currency can take its place and may be it will really take a long long time.
well you are right that bitcoin will be number one for long time and if the pioneer of bitcoin will update it with the arrival of new technologies than it will be always the head of the other cryptocurrencies but if they leave the bitcoin in the same position in the future and ignore updating it then there is possibility that it can be replace by another currency.
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Legendary Offline
Activity: 1176
I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.
For currently yes, but I’m sure someday there will be another coin that replaced the bitcoin. The main power of bitcoin is the first and most popular, most users, and supported other developers. But a big issue like taxes, illegal transactions, and the number of confirmation if not resolved then the user will run out.
Those illegal transactions are cannot be solved in bitcoin because of the anonymity feature of bitcoin and that is why the criminals are using and abusing bitcoin but we can’t avoid that because even in our fiat money that is happening and there still a lot of criminals that using fiat to do illegal transactions. Those big issues that you stated can be solved in just a few months of development for bitcoin but those illegal transactions are exempted
Personally, I don’t think that criminals are massively using bitcoin
At least, not big fish and not in the amounts in which cash is used for illegal operations, activities, and transactions. bitcoin is far from being anonymous (it is pseudoanonymous, at most), all bitcoin transactions (at least, on-chain transactions which still make up the total majority of transactions) are permanently written on the blockchain for everyone to see and analyze them. In fact, I’m really fascinated why people still consider bitcoin anonymous, you can’t even say that coin mixers are not used by government agencies as nodes to specifically track big bitcoin transactions
I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.
For currently yes, but I’m sure someday there will be another coin that replaced the bitcoin. The main power of bitcoin is the first and most popular, most users, and supported other developers. But a big issue like taxes, illegal transactions, and the number of confirmation if not resolved then the user will run out.
Those illegal transactions are cannot be solved in bitcoin because of the anonymity feature of bitcoin and that is why the criminals are using and abusing bitcoin but we can’t avoid that because even in our fiat money that is happening and there still a lot of criminals that using fiat to do illegal transactions. Those big issues that you stated can be solved in just a few months of development for bitcoin but those illegal transactions are exempted
Personally, I don’t think that criminals are massively using bitcoin
At least, not big fish and not in the amounts in which cash is used for illegal operations, activities, and transactions. bitcoin is far from being anonymous (it is pseudoanonymous, at most), all bitcoin transactions (at least, on-chain transactions which still make up the total majority of transactions) are permanently written on the blockchain for everyone to see and analyze them. In fact, I’m really fascinated why people still consider bitcoin anonymous, you can’t even say that coin mixers are not used by government agencies as nodes to specifically track big bitcoin transactions
Fiat is even more anonymous since there’s no records on who held the paper money you’re holding before you got it. It’s not transparent and maybe that’s the major reason why big syndicates haven’t switched to using bitcoins yet. They use paper money since they can’t use bank transactions as suddenly having millions of money to your account will raise suspicion.
Only way that you can trace who had the paper money before is by tracing the finger prints. But even then, the only one that you’ll see is who had it very recently. Paper money is moving a lot and older finger prints are overwritten by new finger prints.
I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.
For currently yes, but I’m sure someday there will be another coin that replaced the bitcoin. The main power of bitcoin is the first and most popular, most users, and supported other developers. But a big issue like taxes, illegal transactions, and the number of confirmation if not resolved then the user will run out.
Those illegal transactions are cannot be solved in bitcoin because of the anonymity feature of bitcoin and that is why the criminals are using and abusing bitcoin but we can’t avoid that because even in our fiat money that is happening and there still a lot of criminals that using fiat to do illegal transactions. Those big issues that you stated can be solved in just a few months of development for bitcoin but those illegal transactions are exempted
Personally, I don’t think that criminals are massively using bitcoin
At least, not big fish and not in the amounts in which cash is used for illegal operations, activities, and transactions. bitcoin is far from being anonymous (it is pseudoanonymous, at most), all bitcoin transactions (at least, on-chain transactions which still make up the total majority of transactions) are permanently written on the blockchain for everyone to see and analyze them. In fact, I’m really fascinated why people still consider bitcoin anonymous, you can’t even say that coin mixers are not used by government agencies as nodes to specifically track big bitcoin transactions
Fiat is even more anonymous since there’s no records on who held the paper money you’re holding before you got it. It’s not transparent and maybe that’s the major reason why big syndicates haven’t switched to using bitcoins yet. They use paper money since they can’t use bank transactions as suddenly having millions of money to your account will raise suspicion.
Only way that you can trace who had the paper money before is by tracing the finger prints. But even then, the only one that you’ll see is who had it very recently. Paper money is moving a lot and older finger prints are overwritten by new finger prints.
Fiat will be removed in the next decade or two, therefore what is left for criminals? bitcoin. bitcoin will be used by criminals worldwide since its the best thing next to cash to do bad things, unfortunately…
Legendary Offline
Activity: 1176
Personally, I don’t think that criminals are massively using bitcoin
At least, not big fish and not in the amounts in which cash is used for illegal operations, activities, and transactions. bitcoin is far from being anonymous (it is pseudoanonymous, at most), all bitcoin transactions (at least, on-chain transactions which still make up the total majority of transactions) are permanently written on the blockchain for everyone to see and analyze them. In fact, I’m really fascinated why people still consider bitcoin anonymous, you can’t even say that coin mixers are not used by government agencies as nodes to specifically track big bitcoin transactions
Fiat is even more anonymous since there’s no records on who held the paper money you’re holding before you got it. It’s not transparent and maybe that’s the major reason why big syndicates haven’t switched to using bitcoins yet. They use paper money since they can’t use bank transactions as suddenly having millions of money to your account will raise suspicion.
Only way that you can trace who had the paper money before is by tracing the finger prints. But even then, the only one that you’ll see is who had it very recently. Paper money is moving a lot and older finger prints are overwritten by new finger prints.
Fiat will be removed in the next decade or two, therefore what is left for criminals? bitcoin. bitcoin will be used by criminals worldwide since its the best thing next to cash to do bad things, unfortunately…
So you are hinting that bitcoin was actually invented by governments?
Or some government agencies to go after criminals when cash is finally withdrawn from circulation, and the big fish from the underground will have to start using bitcoin, right? If you feel worried, you can stay calm, they won’t use bitcoin no matter what. If cash gets eventually banned (or just gets removed from circulation), these folks will simply switch to using gold bars and coins as a “means of payment”
I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.
For currently yes, but I’m sure someday there will be another coin that replaced the bitcoin. The main power of bitcoin is the first and most popular, most users, and supported other developers. But a big issue like taxes, illegal transactions, and the number of confirmation if not resolved then the user will run out.
Those illegal transactions are cannot be solved in bitcoin because of the anonymity feature of bitcoin and that is why the criminals are using and abusing bitcoin but we can’t avoid that because even in our fiat money that is happening and there still a lot of criminals that using fiat to do illegal transactions. Those big issues that you stated can be solved in just a few months of development for bitcoin but those illegal transactions are exempted
Personally, I don’t think that criminals are massively using bitcoin
At least, not big fish and not in the amounts in which cash is used for illegal operations, activities, and transactions. bitcoin is far from being anonymous (it is pseudoanonymous, at most), all bitcoin transactions (at least, on-chain transactions which still make up the total majority of transactions) are permanently written on the blockchain for everyone to see and analyze them. In fact, I’m really fascinated why people still consider bitcoin anonymous, you can’t even say that coin mixers are not used by government agencies as nodes to specifically track big bitcoin transactions
Fiat is even more anonymous since there’s no records on who held the paper money you’re holding before you got it. It’s not transparent and maybe that’s the major reason why big syndicates haven’t switched to using bitcoins yet. They use paper money since they can’t use bank transactions as suddenly having millions of money to your account will raise suspicion.
Only way that you can trace who had the paper money before is by tracing the finger prints. But even then, the only one that you’ll see is who had it very recently. Paper money is moving a lot and older finger prints are overwritten by new finger prints.
Fiat will be removed in the next decade or two, therefore what is left for criminals? bitcoin. bitcoin will be used by criminals worldwide since its the best thing next to cash to do bad things, unfortunately…
but i do not think that fiat will be removed in next decade or two, i think it will even continue if all the people of the world will start using bitcoin, i think they will like to continue both the options they are not going to quit using fiat so soon.
I don’t think that bitcoin will be ever replaced by any other crypto currency as I don’t see any competition to bitcoin at a moment and even in future bitcoin will keep on updating itself with the demand of people so its hard for any crypto to replace bitcoins.
For currently yes, but I’m sure someday there will be another coin that replaced the bitcoin. The main power of bitcoin is the first and most popular, most users, and supported other developers. But a big issue like taxes, illegal transactions, and the number of confirmation if not resolved then the user will run out.
Those illegal transactions are cannot be solved in bitcoin because of the anonymity feature of bitcoin and that is why the criminals are using and abusing bitcoin but we can’t avoid that because even in our fiat money that is happening and there still a lot of criminals that using fiat to do illegal transactions. Those big issues that you stated can be solved in just a few months of development for bitcoin but those illegal transactions are exempted
Personally, I don’t think that criminals are massively using bitcoin
At least, not big fish and not in the amounts in which cash is used for illegal operations, activities, and transactions. bitcoin is far from being anonymous (it is pseudoanonymous, at most), all bitcoin transactions (at least, on-chain transactions which still make up the total majority of transactions) are permanently written on the blockchain for everyone to see and analyze them. In fact, I’m really fascinated why people still consider bitcoin anonymous, you can’t even say that coin mixers are not used by government agencies as nodes to specifically track big bitcoin transactions
Fiat is even more anonymous since there’s no records on who held the paper money you’re holding before you got it. It’s not transparent and maybe that’s the major reason why big syndicates haven’t switched to using bitcoins yet. They use paper money since they can’t use bank transactions as suddenly having millions of money to your account will raise suspicion.
Only way that you can trace who had the paper money before is by tracing the finger prints. But even then, the only one that you’ll see is who had it very recently. Paper money is moving a lot and older finger prints are overwritten by new finger prints.
Fiat will be removed in the next decade or two, therefore what is left for criminals? bitcoin. bitcoin will be used by criminals worldwide since its the best thing next to cash to do bad things, unfortunately…
but i do not think that fiat will be removed in next decade or two, i think it will even continue if all the people of the world will start using bitcoin, i think they will like to continue both the options they are not going to quit using fiat so soon.
as in present time only 1 % of people know about bitcoin while majority of people do not have any knowledge about bitcoin. in fact they do not even have good knowledge about computer and internet therefore they will continue using fiat for long long time.
Published at Sat, 15 Apr 2017 01:06:43 +0000
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