The word “altcoin” is an abbreviation of “Bitcoin alternative,” and thus describes every single cryptocurrency except for Bitcoin. Altcoins are referred to as Bitcoin alternatives because, at least to some extent, most altcoins hope to either replace or improve upon at least one Bitcoin component.*
Present
The day is 13th of June 2017. The Ether market cap is rising faster than ever before. It's just a matter of days before it replaces Bitcoin's first spot.
Future
What happens next? Will Ether be mainstream like Bitcoin is now? Should we use the term altcoin at all anymore? Of course, Ethereum's development team never aimed to swap Bitcoin as a cryptocurrency but with all the problems Bitcoin is currently facing (slow and expensive transactions), it may be inevitable.
Back to the headline of this article, how should we define an altcoin now. Does it even make sense to keep the current definition (Everything that's not Bitcoin), should it be used to address cryptocurrencies below 2nd place on marketcap, or should Bitcoin be considered an altcoin when the market swaps?
food for thought
Bitcoin is much more resilient and it will be proved soon, this was a temporary shift. There's much more child diseases ethereum has to pass through. Also, when bitcoin failed he had no worthy competitor. If Ethereum fails someone will pick up.
Yeah, I guess blockchains like Stratis and EOS will have their chances if Ethereum fails to deliver
Congratulations @adokce! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
Hi adokce, follow me please and engage with my content! I am starting my blog where I'll post cool articles and information I find on all things crypto related. I believe the only way to thrive in crypto is to stay informed! Join my followers and stay updated! Hopefully, you find my content as a cool way to stay informed on crypto! Let me know what you think about my postings. Upvoted and followed!
Congratulations @adokce! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Welcome to Steemit :)
I follow u, follow me back if u want lot of fun and amazing picture every day.
take a look: https://steemit.com/@hicmaster