Ninjastic
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Board Bitcoin Discussion
Re: Will Bitcoin be replaced by another cryptocurrency?
by
Vannterson
on 05/10/2017, 10:02:03 UTC
Quote from: Yakamoto on February 25, 2017, 07:12:21 PM
Quote from: bitbob82 on February 25, 2017, 07:06:51 PM
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.
yes they even do not need to feel about new currency, as bitcoin is still number one and the best crypto currency which is providing the best option to its users, therefore i do not think that we even need to think about another crypto currency.
Bitcoin is the biggest because the community is strong, and it maintains a lot of its respect from the rest of the world because of a lot of the stunning achievements it has accomplished, such as being valued over $1k, being relatively popular with some online financial systems and so, among other things. It's not like other cryptos can just show up, even if they are better.
Bitcoin could be supplanted by another crypto, this won't be the first run through a development is dislodged by another advancement that does likewise yet better, take a gander at Walkmans they were progressive until the point that they were supplanted by discman and after that ipods.