Could another currency replace bitcoin ?

[Peterlight]

Have you checked yearn finance coin, it is already above bitcoin, it currently worth $26k which makes it the first coin to ever bit bitcoin price.


Has of last month yearn finance coin was at $30k which also makes it the first coin to it the $30k price in all cryptocoins.

 

[Sincerem]

No one knows what the future holds. Anything can still happen in the world of Cryptocurrency. It is only time will tell, if any emerging and rising coin can replace Bitcoin'. But at the meantime no one.

 

[Yugocean]

Have you checked yearn finance coin, it is already above bitcoin, it currently worth $26k which makes it the first coin to ever bit bitcoin price.


Has of last month yearn finance coin was at $30k which also makes it the first coin to it the $30k price in all cryptocoins.

Yearn Finance (YFI) is below 25k$ with currently only 29,968 YFI in the market and 30k YFI in total supply this is not possible to get into reach of majority, so people might move to other coins.

 

[Ralphjoe]

I highly doubts that, no cryptocurrency that can overtake Bitcoin, the level of popularity and usage is too high for a new entrant coin to dislodge, Even Ethereum has not been able to do it, that means no other coin can do it.

 

[Erik4150]

I don't think another cryptocurrency will replace bitcoin. It's going to take at least a decade or more for that to happen. I guess we have wait and see how etherum grows in next years but bitcoin is not getting replaced any time soon.

 

[Lagazine]

If there is any coin that will replace bitcoin, it would have been Dogecoin or The Billionnaire coins but, instead of winning, they kept on losing strength against bitcoins. I was a living testimony of those coins. When they are newly introduced, a lots of advert and convincive messages were sent to BTC investors to join the coin because its going to take over from BTC. Where are they today? They all went down suddenly without a good path to trace.

 

[Nova]

I don't think as of todays date. most of the currencies be it offline and online are pegged to the bitcoin. And that kind of makes things a bit different around all over the world. I do see some crypto increasing in price. But I don't see them increasing so much so that the currency would be replacing the bitcoin any time soon. That would be far fetched.

 

[BrolySSJ]

Do you think we can see a new coin that replace bitcoin and have better features and fix all Bitcoin mistakes ?

I think that possibility is there but it is very low. The main reason that i am saying this is because there are many people that consider bitcoin to be the king of crypto, since it was the first of its kind and therefore they keep reverting back to it, even with other coins that are out there. Therefore in order for another coin to replace bitcoin we need to change this mindset which may be a very hard thing to do. But the possibility is definitely there.

 

[Nomad]

Price is not everything in cryptocurrency, you will also have to see market cap, trading volume, total supply, etc. Based on these metrics, there is no other cryptocurrency that will ever beat bitcoin. The entire crypto market cap at the moment is around $1.36 trillion and Bitcoin is more than $600 billion

 

[Grant]

I don't think Bitcoin will ever be matched. No crypto has come close to the worth Bitcoin was or is at. And I doubt we'll ever see a currency that comes close to it.

 

[deucher]

I think that this will definitely happen because one token will not be able to dominate for many years. It's like the laws of nature, no matter how strong a male is, sooner or later he will be replaced. In my opinion, Bitcoin will have more chances if it develops faster, and now I do not see drastic changes, but its competitors also do not have many changes, which does not allow them to overtake Bitcoin

 

[Riberet19]

I think that this will definitely happen because one token will not be able to dominate for many years. It's like the laws of nature, no matter how strong a male is, sooner or later he will be replaced. In my opinion, Bitcoin will have more chances if it develops faster, and now I do not see drastic changes, but its competitors also do not have many changes, which does not allow them to overtake Bitcoin

I don't think Bitcoin is going to develop much more, it has been stagnant for 7 years, since the block war with a block size set at 1 megabyte with only 7 transactions per second and with a collapsed network because it did not want to expand this block size, with transactions of $100 on the main network, for my taste it has become an elitist network and nothing to do with what it once was or what it once was. It follows its primary purpose.

 

[EMMANUEL]

It is possible for another cryptocurrency to surpass Bitcoin as the leading digital currency due to various factors:

Technological Advances: Other cryptocurrencies like Ethereum may offer better technology and features.
Scalability Issues: Bitcoin's transaction speed and scalability challenges could allow more efficient cryptocurrencies to gain favor.
Regulatory Environment: Changes in regulations might enhance the adoption of other cryptocurrencies supported by governments.
Market Perception and Use Cases: Cryptocurrencies that are more user-friendly or have lower fees could attract more users.
Community and Development Support: A strong developer community can drive innovation and competitiveness.
Market Dynamics: Bitcoin’s dominance may fluctuate, and other cryptocurrencies could capitalize on its weaknesses.

While Bitcoin remains the most recognized cryptocurrency, the evolving market landscape means potential shifts in leadership could occur in the future.