It's very uncertain for an Altcoin to overcome Bitcoin.
Absolutely.
I remember a friend making the argument that Altcoins can overcome Bitcoin because they can incorporate additional features or technologies that bitcoin does not offer,
The strength of bitcoinis not in its technology (although at the time of its appearance it was a
breakthrough in technology), but in its uniqueness, expressed in decentralization. No altcoin can compare with it. Also, the dominant
credit of trust. No other cryptocurrency has such a level of trust from investors.
In terms of network effects, its an almost certainty that no Altcoin will get any considerable traction due to Bitcoin’s large user base and the heavy network effects.
This moment was noticeably manifested due to the fact that bitcoin appeared 1st. This gives some head start, among other things.
Secondly, dealing with brand presence, it is also a mystery how many years will it take to build such a strong brand.
Ethereum is also a strong brand, but it has never been able to come close to bitcoin in importance.
Thus, in all these regards, there is a lot of hardships for Altcoins,
The main
hardships for most altcoins is that they are of no use to anyone due to the nature of their origin (shitcoins), whereas bitcoin is needed by everyone.