Bitcoin has no competition

[Denker]

I would say otherwise. Bitcoin has a lot of competition due to altcoins like Ethereum, monero, dash, litecoin and doge. Also news coins are popping up every week.

Due to these altcoins, the investments are getting divided. If all of the online investments are flown in to bitcoin, it would have reached 2k USD mark by now. But due to the immense competition from the altcoins, it is still at $580 level.

These altcoins mostly exist to make their developers rich and for traders to make a nice profit or bad loss on the exchanges.
I trade some alts myself.But I also face reality.
Yes this is ugly truth most of the altcoin fanboys don't like to here and try to deny whenever they can.
Furthermore alts are the perfect testnet for Bitcoin.For instance, thanks to Ethereum we know how a contentious hardfork would probably end for Bitcoin.

[serjent05]

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.

People can of course reward utility to other coins easily enough. There isn't any reason Doge couldn't do just as good a job, but comes a time when people have to settle on what they're going to reward value to otherwise it all turns to dust.

That's still Bitcoin and every day that it remains Bitcoin makes it stronger.

Pretty much well said.  Some of the coin in that are taking away huge percentage of bitcoin market cap is just some hyped manipulated coin.  Which in the end will end up nothing.  Some are just boasting about certain tech but the question is, is it already implemented?  Nope it  was just a hyped but later on will find out that it is still the same shit promised  way back years ago, just changing it terms.  There are some few coins that actually have usage and unique tech that is already implemented yet they are at the back seat waiting to hit the spotlight.  As for bitcoin it will grow stronger each year looking at its competitor getting weaker after months have passed.

[Naficopa]

Not sure why this conversation is so serious?! Just look on games market and you will see that in every place is Bitcoin option. Mario Bros time already gone and Bitcoin will enter to mainstream via gamers.. or torrents.. we have to look on our kids, because they will use bitcoin as money!

[Danielzo]

That is not the case. Think of Ethereum for example, a smart contracts-based digital currency, which has grown exponentially during the last couple of months.

[pedrog]

In this circlejerk it is popular belief bitcoin is too big to fail, it is not!

In the rapid changing online environment it is very hard to stay relevant in the long run, bitcoin fail to achieve scale may dictate its doom, maybe not, one thing is certain, bitcoin's purpose is yet to be found and claiming it is too big to fail is just wishful thinking.

[Barbut]

Bitcoin ic competition to fiat. I think even of some new altcoin appear first that coin need to be accepted. I'm using bitcoins, earning bitcoins here and there, but I didn't see where we can use ETH or now ETC, in which casino. I don't bother myself to work for that coin, also I don't like that name. Who can tell which other coin can be competition to bitcoin? Like that is something easy, I would like to hear which coin can come close to btc from people who are talking against it. Clear question and I wish for clear answer not some mambo jumbo bullshit.

[Umigokath]

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.

This is a true story i think that bitcoin has no competition because i know that he would not beat the gold for sure and that is because he has other meanings then the gold so if people think that bitcoin will replace gold they dont know where they talking about. If you say bitcoin will be almost that big as gold i would say we will see it is possible!

[McCombstech]

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.

Do you really think that bitcoins does not have a competition the hardest competition he has is his price i dont think if you all know where i am talking about but i dont think he really need a competition he has his hands full of him self lol

[xuan87]

Bitcoin has no competition until now, there was some rumor say that ethereum is going to replace bitcoin but it has been wrong, bitcoin maybe will have competition in the future, its all depend on the bitcoin user, if bitcoin keep being used then bitcoin will stand forever, and if more people use it, the stronger bitcoin become

[deisik]

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.

Okay, let's pretend we believe you. So when the block size will be increased at last? This issue has also been discussed for a long time already, but things are where they were over a year ago. In other words, if Bitcoin is here to stay, will it remain the same? If not, what changes are planned and when will they be actually implemented?

What is in the Bitcoin roadmap?

[potatopower]

That is not the case. Think of Ethereum for example, a smart contracts-based digital currency, which has grown exponentially during the last couple of months.

ethereum is not going to grow any more because of that hard fork that has happened, it surely messed ethereum up and i dont think it will be repaired

[chousbwxx]

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.

You fail to understand laws of economics. It doesn't matter how many shitcoins they create, Bitcoin will remain number 1. The overall crypto market will keep growing but Bitcoin will always take the lead. The money in other shitcoins are there temporarily in hopes of getting more BTC out of them.

you are correct, bitcoin is the first crypto cureency and others copy from btc, therefore btc will stay no.1 in market cap.

[TraderETH]

For today bitcoin has no competition is right, because there are not developer of altcoins who be serious building their coins, they don't have innovation, applying new ideas for their coins.

[MedaR]

For today bitcoin has no competition is right, because there are not developer of altcoins who be serious building their coins, they don't have innovation, applying new ideas for their coins.

This is not true! There is a few alts, and we all know they are around here for a few years, and they are no serious competition to btc, so far..But in the future we could face new threats or maybe posibilities..Dont get me wrong i love BTC and what he represent, but we always must look to the future..

[wiggi]

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.

There was a time when Ripple (with the help of coinmarketcap showing the full not so available supply) came very close to Bitcoin's market cap. 10% or so difference, for a very short period. I don't think stronger and stronger competitors are a trend, otoh probably nothing is safe or guaranteed.

[Mastsetad]

Obviously no altcoin can compete with bitcoin because people use altcoins for earning more bitcoins at the end, people trade altcoins to grow their bitcoins, people sell altcoins for bitcoins in the long run because everyone believe it is the only coin that has no potential to die sooner or later.

[FLoving]

I would say otherwise. Bitcoin has a lot of competition due to altcoins like Ethereum, monero, dash, litecoin and doge. Also news coins are popping up every week.

Due to these altcoins, the investments are getting divided. If all of the online investments are flown in to bitcoin, it would have reached 2k USD mark by now. But due to the immense competition from the altcoins, it is still at $580 level.

You are right, as the number of crypto users are limited so when someone want to invest in some other coin then they put out their money from bitcoin and invest in that altcoin with which the price get affected, but still it will be only a smaller affect and for smaller time as when the crypto community increases then they start from bitcoin.

[manselr]

I agree, I don't see a single coin conquering BTC's marketcap. The only damage that can be done to BTC is throught anonymous coins, but if everything goes as expected, in a year or two (hopefully quicker) we will have ways to make bitcoin way more anonymous.

[socks435]

I agree, I don't see a single coin conquering BTC's marketcap. The only damage that can be done to BTC is throught anonymous coins, but if everything goes as expected, in a year or two (hopefully quicker) we will have ways to make bitcoin way more anonymous.

Honestly they can not conquer bitcoin because bitcoin is already publish and many company are using it as payment processor.
We know that bitcoin has many competition but bitcoin is stronger than other altcoin..

[Tanic]

By my opinion bitcoin has competition. Other crypto currencies as ETH are growing fast and getting popularity nowadays. Bitcoin is just more known, but if other crypto will have some good promotion and investment it can become a competitioner to bitcoin.