<p>Bitcoin has a large investment in its mining infrastructure, it is rather difficult for a new blockchain system to duplicate that. Some systems are serious contenders (Ethereum Classic, Ethereum Forked, Zcash, Monero, etc.)</p>

<p>The network effect does have a little/lot to do with it.   </p>

<p>Bitcoin's conservative stance has also something to do with it as it promotes stability, and investors need stability.    </p>

<p>Here is an interesting thought experiment IMO:<br>
What if someone created a 'better' currency, but instead of creating a new blockchain from scratch, they fork Bitcoin's at some point. The mining algorithm would have to be new so that the currency is not attacked by current mining equipment.<br>
Current bitcoin holders would have a stake in the new blockchain, as the 'old' bitcoins would be recognized on the new chain.<br>
If this new currency offers a real advantage over the original, then people will move to it.    </p>

<p>Of course the original bitcoin can incorporate the improvements of the new currency thereby eliminating its advantage. :)    </p>

<p>I guess i took a scenic route here, as i wanted to show the example first.<br>
Essentially if Bitcoin keeps evolving (and it is) no new currency should be able to take it over.</p>

CC BY-SA 3.0
2017-02-02T19:16:50.373Z
2017-02-02T19:16:50.373Z
Albert S
<p>Bitcoin has the advantage of the network effect.
More info here:</p>

<ul>
<li><a href="https://en.bitcoin.it/wiki/Help:FAQ#What_if_someone_creates_a_new_block_chain.2C_or_a_new_digital_currency_that_renders_Bitcoin_obsolete.3F" rel="nofollow noreferrer">What if someone creates a new block chain, or a new digital currency that renders Bitcoin obsolete?</a></li>
<li><a href="https://en.wikipedia.org/wiki/Network_effect" rel="nofollow noreferrer">Network effect</a></li>
</ul>

CC BY-SA 3.0
2016-12-04T11:06:26.173Z
2016-12-04T11:06:26.173Z
grajsek
<p>There already are hundreds of altcoins and even more are being created. However, Bitcoin still dwarfs all altcoins in value.</p>

<p>From a technical point of view, Bitcoin was invented 7 years ago and its technology is far from perfect (e.g. forking, speed). Why can't altcoins with improved features beat Bitcoin?</p>

CC BY-SA 3.0
2017-01-03T13:28:07.430Z
related: [Daniel Krawisz: The Coming Demise of the Altcoins](http://nakamotoinstitute.org/mempool/the-coming-demise-of-altcoins/)
Murch
<altcoin>
Why can't altcoins erode Bitcoin's foundation?
Yangrui
# Why can't altcoins erode Bitcoin's foundation?

(Asked by: username_0 on 2016-12-02)

There already are hundreds of altcoins and even more are being created. However, Bitcoin still dwarfs all altcoins in value.

From a technical point of view, Bitcoin was invented 7 years ago and its technology is far from perfect (e.g. forking, speed). Why can't altcoins with improved features beat Bitcoin?

**Tags:** altcoin

> **Comments:**
> **username_1**: related: [Daniel Krawisz: The Coming Demise of the Altcoins](http://nakamotoinstitute.org/mempool/the-coming-demise-of-altcoins/)  

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## 2 answers

### Answer by username_2 on 2017-02-02. Score: 0 | Accepted answer

Bitcoin has a large investment in its mining infrastructure, it is rather difficult for a new blockchain system to duplicate that. Some systems are serious contenders (Ethereum Classic, Ethereum Forked, Zcash, Monero, etc.)

The network effect does have a little/lot to do with it.

Bitcoin's conservative stance has also something to do with it as it promotes stability, and investors need stability.

Here is an interesting thought experiment IMO:  
What if someone created a 'better' currency, but instead of creating a new blockchain from scratch, they fork Bitcoin's at some point. The mining algorithm would have to be new so that the currency is not attacked by current mining equipment.  
Current bitcoin holders would have a stake in the new blockchain, as the 'old' bitcoins would be recognized on the new chain.  
If this new currency offers a real advantage over the original, then people will move to it.

Of course the original bitcoin can incorporate the improvements of the new currency thereby eliminating its advantage. :)

I guess i took a scenic route here, as i wanted to show the example first.  
Essentially if Bitcoin keeps evolving (and it is) no new currency should be able to take it over.


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### Answer by username_3 on 2016-12-04. Score: 0

Bitcoin has the advantage of the network effect.
More info here:

* [What if someone creates a new block chain, or a new digital currency that renders Bitcoin obsolete?](https://en.bitcoin.it/wiki/Help:FAQ#What_if_someone_creates_a_new_block_chain.2C_or_a_new_digital_currency_that_renders_Bitcoin_obsolete.3F)
* [Network effect](https://en.wikipedia.org/wiki/Network_effect)


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