Bitcoin has no competition

[Rahar02]

There will never be a cryptocurrency that can compete with bitcoin, no competition yeah no and with the time will pass 5-20 year more, bitcoin will be still number one. I don't want to predict the price that would be achieved but one thing we still have a chance to seeing the price in the moon.

For now, it looks like bitcoin has no coin competitor. Many people know about it and bitcoin get more famous everyday.
More investor or company invest on bitcoin makes it price rise or fall, it keep fluctuate. Bitcoin has proven could last for years now and the value has pretty nice increasing every year.

[1715070334]

1715070334

[oceanriver]

There will never be a cryptocurrency that can compete with bitcoin, no competition yeah no and with the time will pass 5-20 year more, bitcoin will be still number one. I don't want to predict the price that would be achieved but one thing we still have a chance to seeing the price in the moon.

i think you might be right about it, a lot of cryptos are created from time to time but in my opinion it is better that there is no bigger competition

[n691309]

Whatever we think and that we don't want to see any other bitcoin competitive but saying the truth recently that coinbase has added Ethereum in their exchange website means that this altcoin is growing and will grow very fast after a short period of time, and I think that this is one of the reasons why bitcoin price is declining nowadays.

the question for me is why?
are the people just interested in coin as an investment or are they invested in it because of the technology behind it? ethereum is all about smart contracts and after the dao not to much is happening. so i am not to worried.

The more coins that are available the more the stability is destroyed, with the ethereum situation I didn't expected it to be listed on coinbase which surprised me also coinbase because they had only fiat and bitcoin and now that ethereum is listed I think they made traders to think or suggest them to use ethereum and then trade them leaving the bitcoin for a bit.

[nejibens]

If you are talking about altcoins you re right, Bitcoin is the first crypto currency right now , and without any competition. But the reality that people still using fiat a lot more than Bitcoin unluckily.

[Indrawan77]

I think for now bitcoin still on the top of crypto currency, there are a lot of bitcoin rival but all of them still cant beat bitcoin for now, bitcoin existence is depend on the user if there are a lot of users choose to change their coin then bitcoin wont survive

[QuestionAuthority]

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.

Holy shit! Someone told the truth instead of just cheerleading. I'm feeling a little dizzy. I need to sit down.

[shinratensei_]

definitely until the new advanced technology which is better than blockchain will be released,people will start to think which is better,it's the time when bitcoin's fate,but it's still too far to be realized,but it's about the time

Yeah, it's a reality of technology is such that, if in the future there is new technology that is more profitable and better than bitcoin then surely everyone will switch using bitcoin or they use both. This will not be a problem because it's still too far away and we enjoy what we're doing

Maybe it's not always a new technology, just from the development of old technology can make new things is better. we do not always need waiting about a new technology.

[Xester]

No competition as it is the leading crytpocurrency as of the moment.  Almost all the rising new cryptocurrency are based on bitcoin price.  So yes, it is like correct to say that it has no competition as it proves to be the leading and most used digital currency today.  Maybe because it is the first digital currency that was programmed and sustain its values up to this time.

[nova-rider]

Competition is important to encourage improvements.

[bravehearth0319]

I think the same.
Altcoin to me is just a way to multiply my bitcoins, sometimes all my bitcoins are invested in a few altcoins but in the end i sell all of them for more bitcoins.

Me too, We are in the same page actually, I usually invested in the altcoins for me to multiply also my bitcoins. It may not the same price like bitcoin but its more faster to mined coins than to mine bitcoin,but in the end I convert the altcoin into bitcoin once I sell it.

[bravehearth0319]

BItcoin actually is open to all business in the world, whether it is an advetising, franchising, conventional, even in the livelihood or cooperative it can be adopt by the mass. And this thing will be depending how are the business will connect bitcoin in the system they have. So meaning Bitcoins is not competing any business instead bitcoin is giving innovation to it.

[Bitcoinpro]

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.

I'm not sure if your informations are correct, but let say that i trust you

If Bitcoin now have 66,4% of market - this is against all other cryptocurrencies .. so it is something like 1 against 400

Can you tell us which coin have second position on market list and how many % of market cap have?

Edit:

definitely until the new advanced technology which is better than blockchain will be released,people will start to think which is better,it's the time when bitcoin's fate,but it's still too far to be realized,but it's about the time

About what technology better that blockchain are you talking about?!?

The market cap could be calculated with different metrics

I'd say going by actual blockchain coin transfers Bitcoin's market cap

would be much higher,

[ethereumhunter]

i think people will know bitcoin first then altcoin, because bitcoin can exchange into fiat, but for altcoin, its need to change into btc first then they can change into fiat. and yes i think bitcoin will become a mother of every altcoin for today and for future.

[Ardenyham]

I think the same.
Altcoin to me is just a way to multiply my bitcoins, sometimes all my bitcoins are invested in a few altcoins but in the end i sell all of them for more bitcoins.

Well, I have the same thoughts. bitcoin is my primary currency too. but the growth of alternative crypto currency and their price's make me afraid about bitcoin. just see the price of Xaurum.. it almost beaten bitcoin in price. being exchanged for 1.2BTC each Xaur. and it is not only about the price it is matter of usage of altcoin. one altcoin may can't compete with bitcoin. but overall altcoin usage is growing over and over day by day. it is possible that one day people use other alts more than bitcoin,
just see the popularity of Steem, Waves, Lisk, not more than bitcoin yet but constantly growing like hill.

[pooya87]

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.

i agree with this, although there are some parts of it that needs some slight changes but it is true overall. for example i agree that no altcoin that exists today can replace bitcoin but nothing says that an altcoin created in the future can not surpass bitcoin. but again that doesn't mean bitcoin will go down because of it! they can exist together.

[bravehearth0319]

There will never be a cryptocurrency that can compete with bitcoin, no competition yeah no and with the time will pass 5-20 year more, bitcoin will be still number one. I don't want to predict the price that would be achieved but one thing we still have a chance to seeing the price in the moon.

Its true, No matter how many altcoins will rise up in cryptocurrencies they cannot over pass the price of bitcoins has right now. because they are kind of a clone of digital currency, and Bitcoin is the original  first digital currency and altcoin is just a clone currency of bitcoins.

[zeaderza]

i think people will know bitcoin first then altcoin, because bitcoin can exchange into fiat, but for altcoin, its need to change into btc first then they can change into fiat. and yes i think bitcoin will become a mother of every altcoin for today and for future.

Bitcoin is already the mother of all crypto currencies. because it is the oldest and also most trusted currency.
I don't think any altcoin can compete with bitcoin or vanish bitcoin. the altcoin need so much efforts to do so, as you said every altcoin are still depending on bitcoin to trade or exchange.

[danherbias07]

i think people will know bitcoin first then altcoin, because bitcoin can exchange into fiat, but for altcoin, its need to change into btc first then they can change into fiat. and yes i think bitcoin will become a mother of every altcoin for today and for future.

Bitcoin is already the mother of all crypto currencies. because it is the oldest and also most trusted currency.
I don't think any altcoin can compete with bitcoin or vanish bitcoin. the altcoin need so much efforts to do so, as you said every altcoin are still depending on bitcoin to trade or exchange.

Yes. The price is also what tells how valuable it is. I can see there is a lot of gap from other currencies price and it got a price rhat is even better with other commodities.

[ObscureBean]

There is a good chance Bitcoin will remain number one for a long time but that's only because it is the simplest instance of the blockchain technology. Altcoins attempting to compete against Bitcoin face an extremely difficult challenge in that they need to bring something truly worthy to the table to distinguish themselves from Bitcoin.
The problem with adding truly awesome features is that these tend to increase overall complexity exponentially. The more complex something is, the higher the probability something will go wrong somewhere. As seen with Ethereum, the more loopholes there may exist in the code.
There are plenty of coders out there with genius level intellects, some no doubt rivaling or even surpassing Satoshi's, however Satoshi holds a sizable advantage over them in that he was the one who came up with the idea of the blockchain. The reason why it is an advantage is because there was no pressure for him to achieve anything at the time he was working on his idea. He worked without the debilitating weight of expectation, presumably out of pure passion (no money incentive). Improving upon a truly great idea is a whole lot more difficult than coming up with the idea in the first place.
It is by no means an impossible task but it will likely take a long time for someone to come up with a blockchain innovation/feature on par with Satoshi's original idea.

[agamasrori]

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

I could release mysmellyarsecoin tomorrow, print 20 million tokens, hype the shit out of it and put ten up for sale. Hey presto, I've just taken 10% of Bitcoin's market cap.

The coins that have taken Bitcoin's market cap have precisely zero use. That's when they're not forking all over the place.

The main use for all of it is still speculation by a long, long way. Bitcoin is the only one with a sliver of utility. Once that sliver grows, and there really isn't anything else with any utility, then the speculation will recede.

I want to support this arguments. These altcoins were not created as bitcoin upgrade or to innovate crypocurrency. Most of them are simply pump and dump scheme overhyped to seems like 'next big thing'.
News altcoin can possibly more advanced in technical field - for now, because bitcoin can be upgraded. But then never beat one and the most important attribute of BTC - near perfect initial distribution.
Bitcoin was created and was worthless, people noticed is potential and make it valuable. Altcoins are created because their developers want to cut corners and earn fast money.

I am agree with you, people's oppinion is very important for bitcoin value. Good oppinion about bitcoin will make more people come's to buy bitcoin and then effected the bitcoin prise. Bitcoin existing is depend of people whos use  and support it. And my personal oppinion is the people in this forum has helped bitcoin to stay exist.