Quote from: EvanMon on April 02, 2015, 12:20:17 AM

Quote from: nakaone on April 01, 2015, 11:02:16 PM

do we really, as the smartest kids in the room, discuss about a cryptocurrency replacing bitcoin?

no fuckin way this will happen in the near future - money and value is an institution

when we say monero is worth 0.004 you may get a hint about what I am talking.

the comparison to any utility spending technology is complete nonsense - you simply do not substitute value for a slightly better technology, imagine what level of stress it would be to change the way we exchange value every 2-3 years Cheesy

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the reason why monero is so special is because it can fill the biggest existing niche namely privacy - this alone given makes it better than every other coin despites bitcoin.

99.999% (maybe even more 9s) of people in the world haven't even assigned a value to Bitcoin yet, let alone considered substituting it for something better. Is there a Big Mac index for Bitcoin? How many places that accept Bitcoin aren't converting straight to their native currency because we are still in the "is it worth thousands of $$$$ or is it worth nothing" phase? 21% of tips given through changetip on reddit go unclaimed and a lot of people still think it's just used for buying drugs or it went bankrupt. You gotta admit that it has a bad rep right now. Litecoin looks like it is going on a straight path to zero but you have to realize that Bitcoin has been following the same path which began at the same time and it offers no technological improvements over litecoin so why should it succeed when litecoin shouldn't?

I will add the disclaimer that I am another one of the people that no longer owns any Bitcoin unless they are used to purchase Monero or to use for sports betting because they don't take monero yet. There are some fundamental flaws in Bitcoin that make me think it will not succeed and some that make me not want to use it at all. Biggest is lack of privacy and the other is lack of scalability. If Bitcoin can address those two issues I would jump back in but it seems like there are too many cooks in the kitchen now to come to agreements on major issues. Two years ago I would have aggressively defended Bitcoin to someone saying the things I say now but I am losing faith.

This is very much the same I have noticed when I have been talking about bitcoin to fiat denominated hands.
Therefore I think it is not that hard to replace bitcoin by some other crypto since bitcoin community is so small.
Perhaps the governements will launch their own cryptos that people are forced to use... Who knows?

Again, by saying bitcoin will be replaced, doesn't mean bitcoin ceases to exist but it means it will decrease slowly slwoly in value.