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Can a new crypto come out and compete with Bitcoin right away?

  • Thread starter Thread starter Grant
  • Start date Start date
If we even try to say there is nothing that is impossible to happen, this one is very unlikely to happen anytime soon or later. Bitcoins rules
 
I have come to believe theres nothing impossible in the wrold we are living, so the answer is yes, a new crypto can come around and compete with bitcoin but practically not now.
 
It took Bitcoin up to ten years to get to its current price and so I don't think it is possible for any Coin to just come and then compete with BTC especially in terms of price.
 
Every cryptocurrency are competing with bitcoins but bitcoin slightly control other cryptocurrency that is why it may be difficult for a cryptocurrency to dominate the bitcoins in the cryptosystem, it may happen in the future but is not likely to be possible now even for a long time.
 
No matter how long it took for Bitcoin to get to where it is now, no coin can come up to take it's place for any reason. The coin and all other will still remain in the position of altecoin so long as Bitcoin exist
 
eLdavis said:
On the long run, its very possible for a new coin to come up and compete with bitcoin. But i dont think it would be possible for a new coin to come out instantly and complete
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There is no coin that can compete instantly because it would naturally require time in order to gain teh exposure that is necessary in order to be able to have a healthy demand and supply for teh coin.
 
I am not disputing the possibility of that happening but I am not sure that it will happen anyway. There are currently thousands of cryptocurrencies and all of them don't match BTC
 
Chibson1 said:
I am not disputing the possibility of that happening but I am not sure that it will happen anyway. There are currently thousands of cryptocurrencies and all of them don't match BTC
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Seriously, I do not ever believe that there would be any crypto currency that can come and take the place of Bitcoin. That can only be imagined.
 
Right now impossible. Bitcoin didn't just rise in value in one day, bitcoin has been in existence for a long time now. I don't see any coin emerging from nowhere to rival bitcoin in terms of value.
 
That will take another 100 years to see a new coin emerging within short period of time to usurp BTC and become the number one in the market.
 
If since the advent of this cryptocurrency called Bitcoin, no cryptocurrency has come out to sucesfully bench it as the major currency, then I don't see that happening in the near future either
 
Although it is a phenomenon for a new crypto to be the star of the show at once but I think that can happen if the whales would make it happen. Like what Elon Musk did when he bought $1.5 billion worth of Bitcoins that the price shot up quickly. If several whales would buy even in hundred thousand value only then the public will join the bandwagon in buying.
 
GIFTMICHAEL said:
That will take another 100 years to see a new coin emerging within short period of time to usurp BTC and become the number one in the market.
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That's very true. It took only Bitcoin to show to the world that cryptocurrencies can actually change the transactional mode of doing businesses all over the net. That coin cannot take bitcoins place
 
It is very possible that a new coin can come in the market and make a lot of noise, for instance shib coin, but it is not possible for a new coin to compete with bitcoin
 
Senator said:
That's very true. It took only Bitcoin to show to the world that cryptocurrencies can actually change the transactional mode of doing businesses all over the net. That coin cannot take bitcoins place
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Yes, Bitcoin proved itself to be the first coin in the crypto space online, i don't see any new invention that will usurp BTC to become chief advocate for all crypto.
 
It is outrightly impossible for a new crypto-currency to just come out and start competing with bitcoin immediately because any new crypto-currency to get to the level of Bitcoin, it must have a higher demand for the cryptocurrency that can rival that of Bitcoin.
 
alberello75 said:
In my opinion, the answer is NO. I don't think a coin that comes out "today" could immediately override one like Bitcoin, which was created with a certain criterion 12 years earlier and a multitude of investors below.
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I think this what those giant nations of the wold are trying to do by decimating the power of Bitcoin in order to introduce their own coin which they are proposing to beat the valuuof Bitcoin. I don't think that this can be possible except those countries can form a synergy.
 
That's impossible. How could a coin that is valued 0.0000000133 USD compete with the currency that is $36,000. THis is not going to happen. don't dream
 
Ayokex said:
I think this what those giant nations of the wold are trying to do by decimating the power of Bitcoin in order to introduce their own coin which they are proposing to beat the valuuof Bitcoin. I don't think that this can be possible except those countries can form a synergy.
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In fact also in my opinion, this will be difficult. This would mean the relationship between elements operating to achieve the same target.
 
For a cryptocurrency to suddenly come out and want to usurp the place and position of the Bitcoin all of a sudden from when it just launched itself will not be that easy and will not be possible still
 
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