Bitcoin doing monopoly business in cryptocurrency platform !

[Friskaadew]

its not monopoly i think, the monopoly is when you doing exclusive possession or control of the supply or trade in a commodity or service. i think bitcoins is just a market leader cause he first crypto so many people trust on a bitcoin

[blossomnow]

The monopoly of bitcoin seems like an illogical statement. Those who prefer bitcoin over other currencies. Yes, they are on top. Although this is the first digital currency and the very high BTC rate, no electronic money in the market can come up with its competition.

[b3llsf1l3s]

I think the only bitcoin can make this cryptocurrency market stable. BTC was doing monopoly business over last few years. It's time to do some competition with other good currency. Am I right or wrong?

if only bitcoin can make the market stable, then why is the distance between ATH and the current price very different? I think the existence of an altcoin is also an advantage because there are some things that bitcoin doesn't have. Like a smaller fee, transaction speed, if there is only bitcoin, most likely what happens is full and stuck network

[sandra_x]

Maybe you meant to describe bitcoin dominance within the cryptospace which is not surprising nor is it a big deal considering the fact it is the most decentralized and first crypto we have (the sentimental value will always remain even when technological advancement is a bit slow), the real challenge should be how bitcoin and other cryptocurrencies fare among the major world currency. Bitcoin is currently 6th, trailing the Japanese Yen.

[Indrawan77]

Bitcoin doesn't monopoly anything, its people who choose bitcoin, bitcoin is decentralised so it can not be controlled by anyone, people choose bitcoin because of the fame and all of the coin can be traded using bitcoin, so altcoins is rely on bitcoin, and that caused high dominance of bitcoin, it will be good if there is another coin that can be bitcoin backup, if the dominance of bitcoin is not too high, it will makes other alt coin price not too surpress

[logitechwow]

You're right, and your thinking is right about this.
But personally, I would not rush things.