It will, but it will take some time. Bitcoin has stagnation in the form of a fixed blocksize limit hard coded into the protocol, so any significant growth in the demand for crypto - currency transactions (over say the 2-3 TPS or around 7 TPS being proposed) will have to be provided by another coin or coins. I have yet to have seen a solution the addresses both the need for an adaptive blocksize limit (the concern of the "large block" group) and maintaining security after the block subsidy runs out (the concern of the "small block" group).
Interesting choice for the coin that will not replace Bitcoin. It just so happens that this particular coin does address both the issues above since it has an adaptive blocksize limit and avoids the problem of security after the block subsidy runs out, by having the block subsidy never run out with a tail emission.
Edit: A first mover advantage is useless if the coin cannot scale to meet demand.
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No, it won't be Monero...
Since nothing lasts forever it is of course possible that Bitcoin will be replaced some day. The question is it likely to be replaced by another cryptocurrency or will it be replaced by an entirely new concept? I think if a new system replaces Bitcoin it must have highly significant advantages over Bitcoin that come close to the paradigm shift that Bitcoin represents compared to the existing fiat money system.
The reason why I don't believe that Bitcoin is replaced easily by another cryptocurrency is its significant network effect that is the result of having the biggest user base. Bitcoin had a first mover advantage. That advantage can not be easily reversed.
ya.ya.yo!
No, it won't be Monero...
Since nothing lasts forever it is of course possible that Bitcoin will be replaced some day. The question is it likely to be replaced by another cryptocurrency or will it be replaced by an entirely new concept? I think if a new system replaces Bitcoin it must have highly significant advantages over Bitcoin that come close to the paradigm shift that Bitcoin represents compared to the existing fiat money system.
The reason why I don't believe that Bitcoin is replaced easily by another cryptocurrency is its significant network effect that is the result of having the biggest user base. Bitcoin had a first mover advantage. That advantage can not be easily reversed.
ya.ya.yo!
Interesting choice for the coin that will not replace Bitcoin. It just so happens that this particular coin does address both the issues above since it has an adaptive blocksize limit and avoids the problem of security after the block subsidy runs out, by having the block subsidy never run out with a tail emission.
Edit: A first mover advantage is useless if the coin cannot scale to meet demand.