{"id":245251,"date":"2021-05-08T15:12:00","date_gmt":"2021-05-08T12:12:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-are-the-chances-btc-is-actually-overtaken-by-another-crypto\/"},"modified":"2021-05-08T15:12:00","modified_gmt":"2021-05-08T12:12:00","slug":"what-are-the-chances-btc-is-actually-overtaken-by-another-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-are-the-chances-btc-is-actually-overtaken-by-another-crypto\/","title":{"rendered":"# What are the chances BTC is actually overtaken by another crypto?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35e1a7e7ad2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35e1a7e7ad2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-are-the-chances-btc-is-actually-overtaken-by-another-crypto\/#Emerging_blockchain_technologies_and_DeFis_success\" >Emerging blockchain technologies and DeFi\u2019s success<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-are-the-chances-btc-is-actually-overtaken-by-another-crypto\/#Bitcoins_store_of_value_is_whats_really_on_the_mind\" >Bitcoin\u2019s store of value is what\u2019s really on the mind<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># What are the chances BTC is actually overtaken by another crypto? <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvZWQ5MmExNzItNzYzZC00MTA2LWI0ZGQtODk3NzMxZjM0NTEwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>When the famous Satoshi Nakamoto first designed his masterpiece, few could possibly have imagined the almost $63,500 peak that sent investors into a frenzy. Even these days, the first-ever cryptocurrency\u2019s price feels hard to believe at times and investors might be pinching themselves every now and then. Taking a seat alongside Bitcoin (BTC) on the roller coaster, altcoins like Litecoin (LTC), Ether (ETH) and Bitcoin Cash (BCH) joined the ride \u2014 and, more recently, DeFi giants Polkadot and Cardano.<\/p>\n<p>But for the long haul, looking into the crystal ball, it\u2019s difficult to see the future of a coin shrouded in uncertainty. Ray Dalio raised fair points in his critique of Bitcoin, arguing that uncertainties regarding how governments will react to digital assets supplanting fiat currency in utilization are causes for potential concern down the road. He further argued that the Bitcoin blockchain will soon be outdated, and without any central governance to adapt it to emerging blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, a superior coin could overtake it.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>DeFi won\u2019t last long without unlocking Bitcoin\u2019s $250B treasure chest<\/em><\/strong><\/p>\n<p>And that nails home the point: Bitcoin\u2019s underlying blockchain protocols are very limiting in terms of enabling broader financial <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications. It would be unfathomable to operate a massive DeFi ecosystem on top of the Bitcoin blockchain given Bitcoin\u2019s proof-of-work transaction consensus algorithm.<\/p>\n<p>Despite its limitations, it\u2019s difficult to predict whether innovative advances in competing coins\u2019 blockchains will be enough to overtake Bitcoin\u2019s success. It all hinges on the utility factor: Will crypto stay a store of value, or will it become a viable alternative for exchanging value?<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Did Bitcoin prove itself to be a reliable store of value in 2020? Experts answer<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Emerging_blockchain_technologies_and_DeFis_success\"><\/span>Emerging blockchain technologies and DeFi\u2019s success<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since the dawn of Bitcoin just over a decade ago, the blockchain industry has given rise to hundreds of different projects, with each one aiming to forge a new coin into stardom. Many succeeded in the long term. Ether, the second closest coin in value to Bitcoin, continued hitting new all-time highs throughout April, validating not just the coin\u2019s potential as a store of value asset but also Ethereum\u2019s potential as a blockchain network.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Where does the future of DeFi belong: Ethereum or Bitcoin? Experts answer<\/em><\/strong><\/p>\n<p>Similar to Ethereum, a number of projects aimed to emulate the titan that Vitalik Buterin and his associates built, such as Cardano, EOS and, most recently, the hot and popular Polkadot. Each project tries to build off the limitations of the other to varying degrees of success. Hype has been the majority of what\u2019s been delivered to users, as only time will reveal the true validity of these projects.<\/p>\n<p>Regardless of the blockchain projects and their creative names, they\u2019ve spurred on an ecosystem of collaborative development. Together, they\u2019ve created decentralized apps, or DApps, that can bring the unbanked out of the doldrums of impoverishment, opportunity to the financially excluded and new investment avenues to the already-savvy. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>It\u2019s time to put the dukes down and work together for blockchain\u2019s future<\/em><\/strong><\/p>\n<p>The flourishing of coins and DApps serves up plenty of optimism to many outsiders looking in, offering hope that there is real potential to foster a booming decentralized finance ecosystem \u2014 or at least a hybrid of it combined with centralized markets. But it\u2019s all thanks to belief in Bitcoin\u2019s value, which is the fixation point of many investors.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Was 2020 a \u2019DeFi year,\u2019 and what is expected from the sector in 2021? Experts answer<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoins_store_of_value_is_whats_really_on_the_mind\"><\/span>Bitcoin\u2019s store of value is what\u2019s really on the mind<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>What drove the inquisitiveness of investors, developers and crypto enthusiasts alike was the appeal of Bitcoin as a store of value. Against fiat currencies, Bitcoin is deflationary; so, during periods like the COVID-19 pandemic, Bitcoin\u2019s appeal turned white-hot. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>How has the COVID-19 pandemic affected the crypto space? Experts answer<\/em><\/strong><\/p>\n<p>While discussions about Ethereum, Polkadot and other blockchain platforms caught the attention of the DeFi world, many outsiders remained numb to them and fixated on the coin prices. And that\u2019s why Bitcoin\u2019s appeal stays as a store of value, for the most part.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>The butterfly effect: Why DeFi will force BTC to break its 21M supply ceiling<\/em><\/strong><\/p>\n<p>Many ordinary retail investors and institutional investors don\u2019t have a firm grasp on crypto\u2019s inner workings. According to a Cardify <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2021\/03\/04\/survey-finds-one-third-of-crypto-buyers-dont-know-what-theyre-doing.html\">survey<\/a>, only 16.9% of crypto investors \u201cfully understand\u201d it, while just over 33% of them have limited or \u201czero knowledge.\u201d Over 40% of crypto investors are newbies who are riding the hype wave. It\u2019s arguable that the entry barriers to the DeFi world are quite high and literacy is rather hard to attain, but that\u2019s a story for another time.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Institutional investors won\u2019t take Bitcoin mainstream \u2014 You will<\/em><\/strong><\/p>\n<p>Moreover, institutional investors remain wary of the volatility issues facing Bitcoin and other cryptocurrencies, with ongoing predictions of an imminent bubble \u2014 another signal that underlying blockchain technologies are less of a priority. And this is precisely why other coins will not overtake Bitcoin. So long as the mainstream fixation remains pinned to coin value and not underlying blockchain value, Bitcoin will stand atop the cryptocurrency podium. Whether investors can become more literate in the inner workings of the DeFi world will determine how much value investors will find in the underlying technologies of new and emerging coins. <\/p>\n<p>For now, Bitcoin is the king of the hill and will likely stay that way for a long time as the price continues to climb and mainstream investors hop on board.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p class=\"post-content__disclaimer\"><em>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/em><\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Ariel Shapira<\/strong> is a father, entrepreneur, speaker, cyclist, and serves as founder and CEO of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a>-Wisdom, a consulting agency working with Israeli startups and helping them to establish connections with international markets.<\/div>\n<\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/what-are-the-chances-btc-is-actually-overtaken-by-another-crypto\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# What are the chances BTC is actually overtaken by another crypto? &#8221; When the famous Satoshi Nakamoto first designed his masterpiece, few could possibly have imagined the almost $63,500 peak that sent investors into a frenzy. Even these days, the first-ever cryptocurrency\u2019s price feels hard to believe at times and investors might be pinching&#8230;<\/p>\n","protected":false},"author":1,"featured_media":245252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvZWQ5MmExNzItNzYzZC00MTA2LWI0ZGQtODk3NzMxZjM0NTEwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74894,74863,75239,74868,74891,4965],"class_list":["post-245251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-blockchain","tag-cryptocurrencies","tag-decentralized-finance","tag-defi","tag-ethereum","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/245251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=245251"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/245251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/245252"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=245251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=245251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=245251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}