Quote from: ktabb on January 27, 2018, 08:35:55 PM

Quote from: abdullahkhan9512 on January 27, 2018, 05:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

I think Bitcoin might be zero. It has major scaling issues and cannot be used as a payment system at all because of transaction times and fees. The value of decentralization is not nearly enough to warrant paying those high fees and waiting so long to transfer money when you can do it instantly for free with centralized services like Venmo.

It is possible than an alt coin will rise again and eclipse bitcoin if they can scale to about 1000 times the transaction capacity of bitcoin (something closer to what Visa and Mastercard do, which is about 3,000 transactions per second combined). There are still problems though with things like the mining energy usage and government regulation. We'll see what happens. I think it is far more likely that an alt coin eclipses bitcoin in 5 years than bitcoin remaining the crypto king.

If Bitcoin can't solve scalability then it (and all cryptos) will fade away. If another coin can do 1000x the tx capacity then bitcoin can also implement that technique. If an altcoin does 1000x txs by just making blocksizes huge then that is no different than any existing centralized trusted third party service and it will be entirely decentralized, thus losing the most important and revolutionary benefits of blockchain, therefore it won't surpass Bitcoin because it's no different than non-blockchain services people already use.

For that reason if cryptos succeed, Bitcoin should succeed and still be on top. The only way it would fail but an altcoin would take its place is if a huge step was made in the technical progress of blockchain and Bitcoin for some reason refused to implement it.