Post
Topic
Board Economics
Re: Will the bitcoin be outdated by another currency?
by
Cordenne
on 25/05/2018, 11:10:32 UTC
Quote
I agree, although Bitcoin is the "King" of all Cryptos, unless we see Bitcoin making some amendments to its protocol we may see more innovative alt coins rising up to take its place. Ethereum is one of them. Although it has much catching up to do in the markets I think its a possibility. China recently ranked Cryptocurrencies and Bitcoin was not in the Top 10. The index is based on three criteria: technology, application, and innovation. Ethereum came first, while Bitcoin was only 13th.

https://cryptonews.com/news/china-ranks-cryptocurrencies-and-bitcoin-is-not-in-top-10-1806.htm

Bitcoin is an aging King. After bringing in millions of users to the network, and engaging the interest of thousands, Bitcoin has hit a jam on its network as a backlog has led to higher transaction fees and longer waiting times. Currently, the market share for Bitcoin is just over 33 percent, having not too long ago been at over 60. Bitcoin could be in some trouble. It wont disappear but it definitely has competition to look out for.