If all Crypto Currencies are fairly similar and Bitcoin gets too high in price, won't people just trade it in for the lower priced ones? It seems like more stores will accept the lower priced currencies too. I'm just trying to get a grasp on things and to see what other advantages bitcoin has - besides being first in the market.
They can be exchanged so freely on cryptsy it almost doesn't even matter which is the "leader." But for the most part I think Bitcoin being the template and the one with the most fiat/cryptocurrency exchanges puts it way out ahead and the gold standard for the forseeable future. The main point of Litecoin for many is using the favorable BTC exchange rate when mining; I haven't seen a lot of places taking Litecoin payments...