Ninjastic
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Board Bitcoin Discussion
Re: Will Bitcoin be replaced by another cryptocurrency?
by
Senor.Bla
on 25/02/2017, 11:58:40 UTC
Quote from: ged00u on February 25, 2017, 10:56:46 AM
Quote from: Zooplus on February 25, 2017, 10:48:18 AM
Quote from: Senor.Bla on February 25, 2017, 08:43:06 AM
Quote from: avikz on February 25, 2017, 04:57:24 AM
Eventually in the future, bitcoin will be replaced by another crypto currency but not soon. Bitcoin will be available till 2023 for mining. After that bitcoin will remain the costliest crypto currency. However, those who have already set up their expensive mining system, what will they do?

They will obviously find another crypto currency to mine and that crypto currency will become the next big thing after bitcoin. Everything in life, has a expiry date and bitcoin is no exception. But that is not going to happen anytime soon.
You will have to explain some details. Why mining will only be available until 2023? Because we should still have a good 100 years until no new blocks are mined. Also the fees will take over as the reward. Altcoins use different algorithms, with ASCIs it is not possible to switch to the next best coin.
Probably people will not look for another system anymore, they trust bitcoin so much that is why the price that we see now is rising. That is the statement of the majority and create some good demand to make it happen. If there is a specific altcoin that will replace bitcoin, we cannot ascertain what it is due to their huge number.
it is obvious that there are thousands potential coins out there and I do not know why you can see which one can replace Bitcoin. According to my experience and my knowledge, ethereum is the most suitable for this place. Ethereum has provided a lot of benefits and advance technology to us and if we know how to use it appropriately, it can help us in many ways
I think many people make the same mistake as you. ETH is the second biggest in market cap and known, so people see it as first alternative. But ETH is not and does not want to be an alternative. Just like you would not call a car an alternative to a 18 wheeler. They are both cars/crypto currencies, but serve a different purpose. And you and many other probably do not know which one could replace Bitcoin, because you have no insight into the technical aspect of every coin.