Bitcoin has no competition

[avikz]

Being the pioneer of the crypto currency industry, bitcoin ideally shouldn't have any competition. But sad, bitcoin has competition and they are the altcoins which is popping up everyday like mushrooms.

If we have only a handful of altcoins like 4 or 5, then it would be a great experience for everyone. But we have around 800 odd altcoins which are eating into bitcoin's profit in a big way. The investments are getting divided and bitcoin is not getting the required amount of investments. Otherwise the bitcoin price would have reached 2k mark a long time ago.

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[Mastsetad]

Being the pioneer of the crypto currency industry, bitcoin ideally shouldn't have any competition. But sad, bitcoin has competition and they are the altcoins which is popping up everyday like mushrooms.

If we have only a handful of altcoins like 4 or 5, then it would be a great experience for everyone. But we have around 800 odd altcoins which are eating into bitcoin's profit in a big way. The investments are getting divided and bitcoin is not getting the required amount of investments. Otherwise the bitcoin price would have reached 2k mark a long time ago.

Though there are a lot of altcoins in markets as you said and they are trading in a large scale but we should not forget that those coins are just being traded because of bitcoin, there is no one in the world who hears about a crypto currency and joins it immediately but the ones using bitcoins are trading all those other alt coins in order to earn more bitcoins out of that as they trade them against bitcoin most of the times.

[deisik]

Absolutely, Bitcoin is the father of the crypto currency world. No one even do get a 10% price of it, especially now as it goes $956 Seriously? how would alt coins competes with it?

The price per coin can be utterly misleading

It seems that you implicitly assume that if 1 bitcoin costs over 900 dollars than other cryptocurrencies can't compete with it, right? But the price per unit is irrelevant since you can always take, say, 1M doges and claim that 1 Megadoge costs more that 1 Bitcoin. What does really matter here is how widely a coin is accepted in the real economy. And in this case the difference between Bitcoin and the rest of the pack may be insignificant. Just because the participation of any cryptocurrency in the real economy is pathetic at best. The difference between 0.0001% and 0.0000001% can equal thousand times, but it is the absolute values that count

[VforVictory]

All those FUDsters that where saying year ago how Bitcoin would fail because another currency would take over get proven wrong year after year. The more time Bticoin is alive, the stronger it gets and the bigger the network effect. Sorry but there will not be a Bitcoin 2.0. Bitcoin will go to 100k+ per coin in the next 5 to 10 years, it will absorb all the value researched in the field if not directly through protocol improvements then through sidechains.

Bitcoin will remain the only solid coin. The only coin that survived for the longest time (other coins can't claim this unless they invent a time machine).
There will be alts that pump really hard and make people millionaires, but no alt is going to surpass Bitcoin's strength and solidity. No coin will get a bigger marketcap. In the long term people holding 21+ BTC will be rewarded by history with rich-tier status for seeing the value in it before most people did. Do not let the FUDsters trick your mind or the trolls try to derrail the excellent job being done by Core devs.

Let's continue then our path towards inevitable triumph.

Actually those people who you call fudsters, aren't tricking our mind but sharing logical market tips. And yes, Of all the cryptocurrency here, bitcoin stands out but that isn't necessarily that bitcoin will stand out forever. As you might see bitcoin price goes down before going up and just like any other money the value isn't steadily going up.  So what I'm  saying that other altcoin may stand out other than bitcoin or may have been taking over bitcoin. Just saying.  No one knows what will happen in the future though.

[iram3130]

It's about time. Right now most of the community have their trust on Bitcoins, who knows what they turn to tomorrow.!!
Bitcoin has more potential than anyone can think of. We cannot judge it yet.

[PokerFace3]

Yea I think bitcoin has no competition. As for now new crypto currencies are trying their level best to match up with bitcoins. But they are failing. So after for now bicoin has no competition

It is true that bitcoin has no competition for now, but with the more users joining in the bitcoin community and the price getting higher and higher it become harder and harder for people to buy it and harder for others to mine.
So, there are many who are switching to other crypto currencies and mining those  so that when the time comes for them to rise they will have a chance.

[Barbut]

Yea I think bitcoin has no competition. As for now new crypto currencies are trying their level best to match up with bitcoins. But they are failing. So after for now bicoin has no competition

It is true that bitcoin has no competition for now, but with the more users joining in the bitcoin community and the price getting higher and higher it become harder and harder for people to buy it and harder for others to mine.
So, there are many who are switching to other crypto currencies and mining those  so that when the time comes for them to rise they will have a chance.

You don't have good point of view. Take for example car, some nice one like BMW. How can you buy that car? Before you could buy it with fiat, now you can buy it with bitcoina, from this example bitcoin is competition to all fiat currencies.
Other alt currencies will always be here, maybe some of them can worth more one day, but that is a big question.
They are mining other altcoins just cause its to hard to mine bitcoin, in any case they sell those coins later for bitcoins.

[avatar_kiyoshi]

Yea I think bitcoin has no competition. As for now new crypto currencies are trying their level best to match up with bitcoins. But they are failing. So after for now bicoin has no competition

It is true that bitcoin has no competition for now, but with the more users joining in the bitcoin community and the price getting higher and higher it become harder and harder for people to buy it and harder for others to mine.
So, there are many who are switching to other crypto currencies and mining those  so that when the time comes for them to rise they will have a chance.

You don't have good point of view. Take for example car, some nice one like BMW. How can you buy that car? Before you could buy it with fiat, now you can buy it with bitcoina, from this example bitcoin is competition to all fiat currencies.
Other alt currencies will always be here, maybe some of them can worth more one day, but that is a big question.
They are mining other altcoins just cause its to hard to mine bitcoin, in any case they sell those coins later for bitcoins.

This is true, the demands increased when the things more valuable and popular, that's good overview. The demands will buy it when they know the price in first time, it's means if he's know the price at $900 then he will buy it and could be will hold it until the price rise.

In fact people who mining altcoin in the end just sell all their coin to bitcoin, because bitcoin more valuable.
And if there are decreased on miners, who still mining have more advantages, it's can be compete for miners to survive.

[deisik]

Yea I think bitcoin has no competition. As for now new crypto currencies are trying their level best to match up with bitcoins. But they are failing. So after for now bicoin has no competition

It is true that bitcoin has no competition for now, but with the more users joining in the bitcoin community and the price getting higher and higher it become harder and harder for people to buy it and harder for others to mine.
So, there are many who are switching to other crypto currencies and mining those  so that when the time comes for them to rise they will have a chance.

You don't have good point of view. Take for example car, some nice one like BMW. How can you buy that car? Before you could buy it with fiat, now you can buy it with bitcoina, from this example bitcoin is competition to all fiat currencies

In the example you give there is no competition between fiat and Bitcoin for goods (such as cars)

It is perfectly clear that the company behind these cars (whichever holds the trademark, I dunno) has nothing to do with Bitcoin and most likely doesn't in the least want to do anything with it. It is obvious that they accept payment only in fiat, and some reseller just converts the bitcoins they get from the buyers into fiat first. And how would it be different if the buyers themselves did just the same and bought their nice BMW's directly with fiat, and where is competition here?

[South Park]

We are living in digital world so all crypto currencies will be prioritized use in next years.
And Bitcoin has been chosen as 1st digital currency. After many years of existing, Bitcoin has been accepted by many people in the world
and it is considered as central digital currency for swapping each other.
Bitcoin has no competition.

As pioneer, bitcoin will always hold the crown. Although there is strong altcoin called ETH. But so many people in the world and deep web which keep use it. I think there is still always competition.

Being the first gives bitcoin a big advantage, but many products have been the first only to be improved upon and then left on the dust by other products, I remember that before the ipods became a thing there were already devices that did the same thing, but then Steve Jobs improved the design and the rest is history.

[Babayega31]

We are living in digital world so all crypto currencies will be prioritized use in next years.
And Bitcoin has been chosen as 1st digital currency. After many years of existing, Bitcoin has been accepted by many people in the world
and it is considered as central digital currency for swapping each other.
Bitcoin has no competition.

As pioneer, bitcoin will always hold the crown. Although there is strong altcoin called ETH. But so many people in the world and deep web which keep use it. I think there is still always competition.

Being the first gives bitcoin a big advantage, but many products have been the first only to be improved upon and then left on the dust by other products, I remember that before the ipods became a thing there were already devices that did the same thing, but then Steve Jobs improved the design and the rest is history.

Yes, i agree with the statement bitcoin has no competition at all because right now no other crypto currency that is declared thats created to have reputation like bitcoin has although there were branches of crypto currencies created in order to circulate bitcoin economy but it doesn't compete bitcoin itself. Bitcoin is created with many advantages in terms of compatibilty to human life specially those with digital world in the internet and online transaction with blockchain security of your online wallet and also for your banking for fiat exchange which is convertible with cash in which you cannot not make easily with fiat currency.

[trigger1975]

Yes, i agree with the statement bitcoin has no competition at all […]

Agreed.  If any, the only one which was able to compete with BTC was the first alt-coin -- Namecoin -- as there was no other alt-option than this back in the good old days where alt-coins were not a pump/dump game and not everybody was having his own cryptocurrency.  And even Namecoin was not able to compete wit BTC.  Nowadays we have BTC and a zillion of coins making few people rich in the pump release days and then are struggling somewhere around 0.00000010 ~ 0.00000001 BTC …  How shall this scheme comete with Bitcoin?

/alex

[South Park]

Yea I think bitcoin has no competition. As for now new crypto currencies are trying their level best to match up with bitcoins. But they are failing. So after for now bicoin has no competition

It is true that bitcoin has no competition for now, but with the more users joining in the bitcoin community and the price getting higher and higher it become harder and harder for people to buy it and harder for others to mine.
So, there are many who are switching to other crypto currencies and mining those  so that when the time comes for them to rise they will have a chance.

The price of bitcoin has no direct relationship with mining difficulty what it may happen is that some investors see the rising price of bitcoin and decide they can open their own mining operation and with an higher price of bitcoin more places become available to where you can open your mining operations.

[knightbrown]

bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..

[trigger1975]

bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..

Where is the competition with alt coins?  Any altcoin which is yet really competing with BTC?  Sure some use alternate algorithms and some of them are really promising.  But I still don't see a real competition.

//alex

[shinratensei_]

bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..

Where is the competition with alt coins?  Any altcoin which is yet really competing with BTC?  Sure some use alternate algorithms and some of them are really promising.  But I still don't see a real competition.

//alex

You will see it after a lot of the financial institutions are using hyperledger, soon.  A lot of the thing with getting sync with hyper and totally the serious competitor for bitcoin has come.  Just a problem of times.

Altcoin like a small fruit below of the big tree.

[KennyR]

bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..

Where is the competition with alt coins?  Any altcoin which is yet really competing with BTC?  Sure some use alternate algorithms and some of them are really promising.  But I still don't see a real competition.

//alex

You will see it after a lot of the financial institutions are using hyperledger, soon.  A lot of the thing with getting sync with hyper and totally the serious competitor for bitcoin has come.  Just a problem of times.

Altcoin like a small fruit below of the big tree.

As quoted universities and financial institutions were focusing much over the digital currency network. Recently an university organised competition for Blockchain development. So, surely more and more altcoins will exist to compete with bitcoin, but to get the standard similar to bitcoin is possible for very few as the same way that we experience now.

[mirakal]

bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..

Where is the competition with alt coins?  Any altcoin which is yet really competing with BTC?  Sure some use alternate algorithms and some of them are really promising.  But I still don't see a real competition.

//alex

You will see it after a lot of the financial institutions are using hyperledger, soon.  A lot of the thing with getting sync with hyper and totally the serious competitor for bitcoin has come.  Just a problem of times.

Altcoin like a small fruit below of the big tree.

People are adopting with bitcoin not because of it's system where transactions can be track easily online but more on the decentralized factor of the system, as it is decentralized, we have the full confidence to do online transaction whatever we want as we are comfortable with whatever we do, may it be illegal or not, our money will not be freeze like the government normally does.

[The_Dark_Knight]

bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..

Where is the competition with alt coins?  Any altcoin which is yet really competing with BTC?  Sure some use alternate algorithms and some of them are really promising.  But I still don't see a real competition.

//alex

In terms of adoption no altcoin is even close to compete with bitcoin, and there is no competition either when it comes to the amount of money the bitcoin economy moves, but in terms of technology there are some altcoins with very interesting characteristics that bitcoin currently does not posses.

[virasog]

Bitcon at $921. 

This is great, this time next year, we are all gonna be millionaires. 

Some day, all the bitcoin holders will be well rewarded. I believe that someday your words will come true. Till then it is time for us to buy, accumulate bitcoins and store them for the future.
Damn! I wish I had bought truck loads of bitcoin when bitcoin was valued at ~1300 bitcoins  per $ back when it all began!