Re: The Possibility Of An Altcoin To Overcome Bitcoin Is Very Rare.
Thank you'll for your effective contribution.
Comparing Bitcoin and altcoins is like equating gold with silver. Regardless of how silver is refined, its worth will not be greater than gold. There are some altcoins that have adopted additional features such as low transaction fees and more security, but they have not been able to overtake Bitcoin. Institutions and even nations recognise it more than any other cryptocurrency. Bitcoin is also widely adopted by individuals and is less volatile. It is not impossible for Bitcoin to lose its number one position but it will be very difficult.
Gold and silver are metals, natural assets, we can only process and use them but cannot modify or improve them in one way or another. Meanwhile, bitcoin and altcoins are products of man-made technological developments, which means we can modify, upgrade, and improve them in many different ways. So to be fair it is entirely possible that an altcoin could overtake bitcoin but the problem with altcoins is that most of them are created just for speculation, gambling and then disappear. Instead of focusing on building a project that is actually useful and provides real use cases like bitcoin, that is why it will be very difficult for any altcoin to surpass bitcoin.
To be fair - assets that are minted or turned to fiat are "upgraded" by us, humans - by regulations and such, policies, etc
But it is done by the authorities.That's where the line is drawn, in my opinion, with BTC. It's not used and manipulated by the higher entities.