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

[Ub40]

It will not be that easy for a coin to just come out and suddenly grow above bitcoin. Bitcoin is so popular that it has affected its price value. Other existing coins can not compete with with btc, how then will a new coin will just come and grow bitcoin. Impossible! It is my take.

 

[Shigobad2020]

Thank you ........it's impossible btc is over 34$ currently with ath at 60$+ ....the next which is Eth is at 1900$+ ath 3000$ ....you can see the gap....so it's seems not seems it is impossible

Looking at thebgap to say the fact says it all, I don't believe a new crypto currency coin can just come and overtake at least $42,000 landmark, it must start from somewhere at least.

 

[Destinyfejiro]

Yeah and that somewhere is at the bottom..with a few zeros at first before moving gradually and gradually to the top....it's literally impossible

Looking at thebgap to say the fact says it all, I don't believe a new crypto currency coin can just come and overtake at least $42,000 landmark, it must start from somewhere at least

 

[Dowenship]

Would it be possible if someone made a new currency, and it matched up to Bitcoin right away? I think it would be fantastic to find a new currency that can compete with bitcoin, because so far, I don't think anything else comes even close. At least not yet.

This competition you take about is it about price or about the creation. Because Bitcoin will forever be the original coin no matter how another coin more unique than bitcoin might be, but if its about price, yfi is costlier than bitcoin.

 

[Bookwormlux]

So many analysts think Ethereum has this potentials, but I do not seem to agree as it would take decades for that to happen in the Crypto space

 

[Snazzy001]

It is very possible for a new crypto to come out and compete with bitcoin because of this whole fact that there is no Monopoly in this

 

[Shigobad2020]

It will not be that easy for a coin to just come out and suddenly grow above bitcoin. Bitcoin is so popular that it has affected its price value. Other existing coins can not compete with with btc, how then will a new coin will just come and grow bitcoin. Impossible! It is my take.

Currently I don't believe there's any crypto currency that can come suddenly and compete with bitcoin at the present moment, because bitcoin has been existing for a very long time , and for a new coin to come and compete with bitcoin , it must first grow.

 

[Nurudeen]

No existing or newly launched coin can ever compete with bitcoin. Bitcoin is the leading coin in the market and I don't see any coin coming close to it at the moment. Despite Ethereum hype it can't rival Bitcoin

 

[Blessingedidiong]

It will be difficult to see a crypto currency that would want to ride above Bitcoin. I don't even see it happening in the near future because Bitcoin is an already stable coin which has grown over the years.

 

[Bousine123]

I don't think this is possible now, or even in the near future. Bitcoin has come a long way, being the first cryptocurrency, it will be hard for any coin to do that.

 

[Yusuf]

I don't think any crypto currency both new and existing can challenge Bitcoin in the crypto currency exchange Business reason been that this is the first coin in the sector and it's widely known than any other crypto currency

 

[Rhapsody]

There's nothing impossible but it will be very difficult for a newly introduced crypto coin to match up bitcoin immediately because it takes time for new crypto coins to be accepted by large numbers of people.

Truly there is not impossible. But it is never possible for a new crypto currency to compete with bitcoin. It can only compete in the price, but never in value. Other coin that have been on existence can compete with bitcoin. But not with new coin that hasn't gained ground.

 

[kayode10]

Nothing is impossible in the world of internet. Some people can also come with another coin backed by gold in which a lot of people will demand for it. when this happen consistently for a long period of time such coins supposed Bitcoin.

 

[Mostee501]

Truly there is not impossible. But it is never possible for a new crypto currency to compete with bitcoin. It can only compete in the price, but never in value. Other coin that have been on existence can compete with bitcoin. But not with new coin that hasn't gained ground.

That's absolutely interesting and i get your point and i am of the same opinion with you.Even Ethereum that is second to bitcoin will find it difficult to out match bitcoin.

 

[Rhapsody]

That's absolutely interesting and i get your point and i am of the same opinion with you.Even Ethereum that is second to bitcoin will find it difficult to out match bitcoin.

You are right. Etherium has been in the second position for a very long time. But is has still not reached anywhere close to bitcoin. Some people don't know another crypto currency apart from bitcoin. If I want to let some people to know about a coin, I will tell them that it is also like bitcoin for them to know that I am talking about crypto currency.

 

[Hena101]

Getting a new currency that can come and compete with bitcoin right i think is impossible looking at how it's been accepted all over the world.

 

[Mostee501]

You are right. Etherium has been in the second position for a very long time. But is has still not reached anywhere close to bitcoin. Some people don't know another crypto currency apart from bitcoin. If I want to let some people to know about a coin, I will tell them that it is also like bitcoin for them to know that I am talking about crypto currency.

That's absolutely true,those who don't know much on cryptocurrency use bitcoin to generalize whenever their talking about any digital currency.

 

[GoonLegal]

The answer to your question is yes and no.

Yes, a new crypto could be listed and immediately compete with Bitcoin in terms of utility i.e practical everyday use as a viable alternative to Fiat currency.

No, because quite frankly it will take some years for such a new crypto to gain popularity and aquire the kind of value Bitcoin has garnered over the last 10 years.

A crypto which has the propensity to achieve this feat is Pi Network. Google them and thank me later.

 

[Kelly5]

It can be very possible for a new cryptocurrency to come out that will compete for popularity and price bullishnes the way Bitcoin has been but cannot pass Bitcoin

 

[Setfragil]

There is nothing that is impossible to achieve in cryptocurrency but a coin coming out now to challenge bitcoins will be a tough one as bitcoins has gain a lot of acceptance that many coin can only dream about.