Bitcoin has no competition

[Harlot]

There are hundreds of cryptocurrencies out there, and it would be naïve to think that none of them has any good improvements.

I think the problem is that most of them have many points of centralization, and certain improvements could be implemented in Bitcoin if there was a consensus.

It has nothing to do with that, honestly there are many better cryptocurrencies out there that has the potential to replace Bitcoin, the only problem is that Bitcoin is the Father of all Cryptocurrencies in which it was the first one out of the market and will certainly have the largest market share of all. The problem is that this Altcoins had a bad timing entering the market becauae Bitcoin is currently dominating and still growing with a lot of potential. Also we cannot have 2 or more Cryptocurrencies dominating the market because as consumers would need to adjust on more of them instead of one (what I mean about that is that is stores or any business will need to take time to adjust not only to Bitcoin but also other altcoins as well for the consumer's benefit) which will lead to a lot of confusion on both consumer and seller.

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[choppork]

There are hundreds of cryptocurrencies out there, and it would be naïve to think that none of them has any good improvements.

I think the problem is that most of them have many points of centralization, and certain improvements could be implemented in Bitcoin if there was a consensus.

It has nothing to do with that, honestly there are many better cryptocurrencies out there that has the potential to replace Bitcoin, the only problem is that Bitcoin is the Father of all Cryptocurrencies in which it was the first one out of the market and will certainly have the largest market share of all. The problem is that this Altcoins had a bad timing entering the market becauae Bitcoin is currently dominating and still growing with a lot of potential. Also we cannot have 2 or more Cryptocurrencies dominating the market because as consumers would need to adjust on more of them instead of one (what I mean about that is that is stores or any business will need to take time to adjust not only to Bitcoin but also other altcoins as well for the consumer's benefit) which will lead to a lot of confusion on both consumer and seller.

At what time do you think it's best for altcoins to enter the market? I think right when bitcoins was launched there's already a possibility that an altcoin will pop up but the idea will be almost as if it was copy+pasted, thus, useless.

If it was bad for altcoins to enter the market because bitcoin is already dominating the market, then there would never be a good time for altcoins to enter since bitcoins will always be dominating unless a God-like coin comes in (which is again, an altcoin).

I don't think having two or more coins makes people confused at all because if so, we should already be confused with all the fiat currencies that we have in the world. They simply have to add Ether or Dash or whatever major coin they want to accept and have the conversion algorithm ready as well just like how they did with bitcoins.

[Stedsm]

There are hundreds of cryptocurrencies out there, and it would be naïve to think that none of them has any good improvements.

I think the problem is that most of them have many points of centralization, and certain improvements could be implemented in Bitcoin if there was a consensus.

It has nothing to do with that, honestly there are many better cryptocurrencies out there that has the potential to replace Bitcoin, the only problem is that Bitcoin is the Father of all Cryptocurrencies in which it was the first one out of the market and will certainly have the largest market share of all. The problem is that this Altcoins had a bad timing entering the market becauae Bitcoin is currently dominating and still growing with a lot of potential. Also we cannot have 2 or more Cryptocurrencies dominating the market because as consumers would need to adjust on more of them instead of one (what I mean about that is that is stores or any business will need to take time to adjust not only to Bitcoin but also other altcoins as well for the consumer's benefit) which will lead to a lot of confusion on both consumer and seller.

Not just other cryptocurrencies, but for instance, I would say that Bitcoin has become its own competitor since many other types of purposes are popping up in the markets to take their share through getting those proposals approved. Bitcoin needs to get all these internal problems resolved, else a third party will win the battle between the two.

[asuryan180]

BTC has no competition because most of the other cryptos don't possess the neccessary qualities to bring something better than what BTC has.They are just kind of in their own thing but they cannot make a difference on a global level and that is why they can't go to another level.So BTC will most likely be the number one crypto for quite a long time to come,for me the most interesting question is which will be the crypto that will have the chance to surpass BTC and how long will it take

[bitbunnny]

BTC has no competition because most of the other cryptos don't possess the neccessary qualities to bring something better than what BTC has.They are just kind of in their own thing but they cannot make a difference on a global level and that is why they can't go to another level.So BTC will most likely be the number one crypto for quite a long time to come,for me the most interesting question is which will be the crypto that will have the chance to surpass BTC and how long will it take

That is all true and its interesting how many other cryptocurrencies appear each day but with no bigger success. And none of this currencies can't come even close to Bitcoin value. The only currency that is kind of small competition to Bitcoin is Monero, but only in sense of anonimity and that is why is used on dark markets and Bitcoin has lost a big deal of its anonimity.

[Fatanut]

BTC has no competition because most of the other cryptos don't possess the neccessary qualities to bring something better than what BTC has.They are just kind of in their own thing but they cannot make a difference on a global level and that is why they can't go to another level.So BTC will most likely be the number one crypto for quite a long time to come,for me the most interesting question is which will be the crypto that will have the chance to surpass BTC and how long will it take

I think it will not take long for a killer coin to replace bitcoins. The dump will be much faster than expected. When we finally got the coin that we all want, everyone will be dumping their coin and the dump will make others panic sell even when they didn't even fully understand the new coin yet. Everyone wants a lightning network, so I guess that will be enough to surpass bitcoins.

The better coin will not compete with bitcoins at all because it doesn't have to. People will migrate by their own. It's unlikely that it will beat bitcoins because of some advertisement or some marketing strategy. It will beat bitcoin because of the new features that it has and it will probably have no major disadvantages or drawbacks for those new feature.

[Roger Burton]

Of course it has, and that's why it's the number one cryprocurrency in the world Nothing can have no competition, because int that way nobody would buy anything. And that's marketing! This is how our world works and how it will keep working.

[kelsey]

At a moment I don't see any competition to bitcoins as it is ruling the digital world and altcoins cannot be compared to bitcoins as they cannot be used for shopping or converted to fiat and in that case bitcoin holds upper hand over the altcoins.

Certainly, bitcoin is the only coin in a crypto currency which can be concerted into fiat vice versa. However, it's not impossible that a crpto currency coin can have ots exchanger since the market of crypto currency is spreading annd developing.

  that just shows like many blinkered bitcoin users; you don't get out much 

plenty of cryptos can be directly convert to fiat without the use of bitcoin, in fact litecoin, eth, etc, even doge are much easier to do so as they actually arrive 

[HatZpApA]

At a moment I don't see any competition to bitcoins as it is ruling the digital world and altcoins cannot be compared to bitcoins as they cannot be used for shopping or converted to fiat and in that case bitcoin holds upper hand over the altcoins.

Certainly, bitcoin is the only coin in a crypto currency which can be concerted into fiat vice versa. However, it's not impossible that a crpto currency coin can have ots exchanger since the market of crypto currency is spreading annd developing.

  that just shows like many blinkered bitcoin users; you don't get out much 

plenty of cryptos can be directly convert to fiat without the use of bitcoin, in fact litecoin, eth, etc, even doge are much easier to do so as they actually arrive 

That's right , many alts have nowadays a fiat exchange you can use!
Althugh BTC is the best for the moment , it needs competition ! Just as fiat conquers vs fiat , BTC needs a an alt to fight with! And let's see how ETH will evolve in this race !
I can just say that there will be a moment when another coin will surpass BTC ! It is mathematically impossible to be the 1st everytime.

[Xester]

At a moment I don't see any competition to bitcoins as it is ruling the digital world and altcoins cannot be compared to bitcoins as they cannot be used for shopping or converted to fiat and in that case bitcoin holds upper hand over the altcoins.

If you are not studying what is really going on with bitcoin then you can say such things that bitcoin has no competition. At this point of time there are many coins that compete with bitcoins and the famous one was Ethereum. If in case bitcoin cannot solved all the problems it is facing right now then Ethereum will take its place as the new medium of exchange between altcoins trading.

[kelsey]

At a moment I don't see any competition to bitcoins as it is ruling the digital world and altcoins cannot be compared to bitcoins as they cannot be used for shopping or converted to fiat and in that case bitcoin holds upper hand over the altcoins.

If you are not studying what is really going on with bitcoin then you can say such things that bitcoin has no competition. At this point of time there are many coins that compete with bitcoins and the famous one was Ethereum. If in case bitcoin cannot solved all the problems it is facing right now then Ethereum will take its place as the new medium of exchange between altcoins trading.

sorry no one who believed in the original bitcoin would touch Ethereum with a ten foot poll.

[bitcub]

Nice fact sir, I guess its because bitcoin owners invested their bitcoin from buying altcoins. One thing for sure one day ETH is the next bitcoin.

Bitcoin has been steadily losing market cap dominance, from 90%+ just two years ago to ~80% today.

When it comes to exchange dominance it's just 66.4%.

This trend will probably continue and in a few years there will be people using cryptocurrencies that do not know what bitcoin is.

[pinkpanther03]

Bitcoin's only competition is Gold and other precious metals because they have a limited supply. Bitcoin is only maxed at 21 million coins and if that limit gets reached then the people will want the coins or there might be only one person with all the supply at the end and nobody will want to purchase it. Having precious metals could get noticed by many people and they will want some of that as well so the price of precious metals will have a longer term of value compared to Bitcoin.

Indeed, The main competitors of bitcoin was gold only, unlike what others always said that most competitors of bitcoin are the crytpocurrency/altcoins, no its not of course, actually altcoins is helping  bitcoin to make popular in just a matter of short period of time.

[KennyR]

Of course it has, and that's why it's the number one cryprocurrency in the world Nothing can have no competition, because int that way nobody would buy anything. And that's marketing! This is how our world works and how it will keep working.

If something becomes popular, following this we can find the clones in a very short time span. In that case our digital currencies to are not an exception. Here too following bitcoin several other altcoins emerged following the same backing and termed to give a healthy competence to grow.

[vasrasus]

Of course it has, and that's why it's the number one cryprocurrency in the world Nothing can have no competition, because int that way nobody would buy anything. And that's marketing! This is how our world works and how it will keep working.

If something becomes popular, following this we can find the clones in a very short time span. In that case our digital currencies to are not an exception. Here too following bitcoin several other altcoins emerged following the same backing and termed to give a healthy competence to grow.

Improving and development is needed to establish ones success,when one thing goes successful ,something alike will also boom knowing that it was acquired by people, knowing that bitcoin goes hit and strikes people interest there were comes other alt coins or crypticuurencies that are trying their best to get identified too by bitcoin users. Unfortunately bitcoin were really at its momentum that it seems there is no other coins yet that can over to them.

[mrjoy15]

Bitcoin's only competition is Gold and other precious metals because they have a limited supply. Bitcoin is only maxed at 21 million coins and if that limit gets reached then the people will want the coins or there might be only one person with all the supply at the end and nobody will want to purchase it. Having precious metals could get noticed by many people and they will want some of that as well so the price of precious metals will have a longer term of value compared to Bitcoin.

Indeed, The main competitors of bitcoin was gold only, unlike what others always said that most competitors of bitcoin are the crytpocurrency/altcoins, no its not of course, actually altcoins is helping  bitcoin to make popular in just a matter of short period of time.

I agree with you. Bitcopin no longer serve us. The current price of one Bitcoin, it's importance in online marketplace or whatever helps to remain it's popular. But already ETH and some oltcomes doing an extremely good job that's enough to believe near future there have a new alternative.

[Janation]

Bitcoin's only competition is Gold and other precious metals because they have a limited supply. Bitcoin is only maxed at 21 million coins and if that limit gets reached then the people will want the coins or there might be only one person with all the supply at the end and nobody will want to purchase it. Having precious metals could get noticed by many people and they will want some of that as well so the price of precious metals will have a longer term of value compared to Bitcoin.

Indeed, The main competitors of bitcoin was gold only, unlike what others always said that most competitors of bitcoin are the crytpocurrency/altcoins, no its not of course, actually altcoins is helping  bitcoin to make popular in just a matter of short period of time.

I agree with you. Bitcopin no longer serve us. The current price of one Bitcoin, it's importance in online marketplace or whatever helps to remain it's popular. But already ETH and some oltcomes doing an extremely good job that's enough to believe near future there have a new alternative.

I dont get what you are trying to say, especially when you said that bitcoin no longer serve us, bitcoin is not here to serve but it's here to be used. And everyone knows that there are a lot of competitions when we are talking about bitcoin, bitcoin is used as an asset by many investors, but they still are having second thoughts, why not gold, it has stable price
 when it comes to altcoins, there are Ethereum and Dogecoin. And altcoins, helped a big one making bitcoin the best digital currency, without other altcoins, there will be no best digital cuurency.

[mrjoy15]

Bitcoin's only competition is Gold and other precious metals because they have a limited supply. Bitcoin is only maxed at 21 million coins and if that limit gets reached then the people will want the coins or there might be only one person with all the supply at the end and nobody will want to purchase it. Having precious metals could get noticed by many people and they will want some of that as well so the price of precious metals will have a longer term of value compared to Bitcoin.

Indeed, The main competitors of bitcoin was gold only, unlike what others always said that most competitors of bitcoin are the crytpocurrency/altcoins, no its not of course, actually altcoins is helping  bitcoin to make popular in just a matter of short period of time.

I agree with you. Bitcopin no longer serve us. The current price of one Bitcoin, it's importance in online marketplace or whatever helps to remain it's popular. But already ETH and some oltcomes doing an extremely good job that's enough to believe near future there have a new alternative.

I dont get what you are trying to say, especially when you said that bitcoin no longer serve us, bitcoin is not here to serve but it's here to be used. And everyone knows that there are a lot of competitions when we are talking about bitcoin, bitcoin is used as an asset by many investors, but they still are having second thoughts, why not gold, it has stable price
 when it comes to altcoins, there are Ethereum and Dogecoin. And altcoins, helped a big one making bitcoin the best digital currency, without other altcoins, there will be no best digital cuurency.

As easy to available everywhere, also easy to convert convert to it as our real money to spend. That's helping to make our life easy, comfortable, so it's served us human being. Like serve for ornament, serve for delight. BTC>MONEY>SERVE
As bitcoin has survived many challenge, difficulties, it can survive a Hard Fork! Still, it's dominated. But no longer so thought alternative coin could be safe in the future. I would like only limited these currency.

[webtricks]

As far as cryptocurrencies are concerned Bitcoin has no competition. Bitcoin has already become brand for cryptocurrency. People are more aware of word Bitcoin than cryptocurrency and most of them aren't even knowing Bitcoin is cryptocurrency or what actually cryptocurrencies are.
But it doesnt mean Bitcoin is supreme! To shorten the line, draw a line bigger than it. I have seen many new altcoins not using algorithm of blockchain. Maybe something a step ahead of blockchain or bitcoin could ruin the whole crypto ecosystem. Human is a race of evolution, Bitcoin is no difference.

[Catswold]

Bitcoin's only competition is Gold and other precious metals because they have a limited supply. Bitcoin is only maxed at 21 million coins and if that limit gets reached then the people will want the coins or there might be only one person with all the supply at the end and nobody will want to purchase it. Having precious metals could get noticed by many people and they will want some of that as well so the price of precious metals will have a longer term of value compared to Bitcoin.

Indeed, The main competitors of bitcoin was gold only, unlike what others always said that most competitors of bitcoin are the crytpocurrency/altcoins, no its not of course, actually altcoins is helping  bitcoin to make popular in just a matter of short period of time.

I agree with you. Bitcopin no longer serve us. The current price of one Bitcoin, it's importance in online marketplace or whatever helps to remain it's popular. But already ETH and some oltcomes doing an extremely good job that's enough to believe near future there have a new alternative.

ETH is performing really well and its growing good at a moment but comparing it to bitcoin is not a valid comparison as bitcoin is the first digital currency and is a long term player and will always rule the digital world and no altcoin has that power to replace bitcoins.