Bitcoin has no competition

[Shady]

Alternative cryptocurrencies are split and creating strong momentum... Even though Bitcoin looks dominant, many investors have spun into new areas in smaller coins to build hype + diversify into variety.

Bitcoin surely will always hold gold value, even outpace standard metal. It's just a matter of time before this occurs In all upcoming currency markets as well.

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[Ziskinberg]

Alternative cryptocurrencies are split and creating strong momentum... Even though Bitcoin looks dominant, many investors have spun into new areas in smaller coins to build hype + diversify into variety.

Bitcoin surely will always hold gold value, even outpace standard metal. It's just a matter of time before this occurs In all upcoming currency markets as well.

They are gambling in that sense, they think it a short time they can make the price skyrocket and since in this crypto world, relevant news will affect the price, they can create a fake news that will think others of making a demand which would eventually increase the value. It's all about timing, after a pump, dump will follow, so paying attention is necessary.

[Soul Reaper]

This is a very ambiguous statement.
As the answer is both yes and no.
Yes because when we compare bitcoin to Fiat,
Bitcoin has miles to go ,
It still has to achieve a lot and conquer the trust of people.
But when we compare it to other crypto currencies,
There are many new crypto currencies that have come up,
Eg ETH ,Blackcoin. But bitcoin is the best in class ,
And bitcoin is mostly prefered among all the crypto currencies.
So we cant directly say that bitcoin has no competition.

[SvenBomvolen]

But if to talk about all financial system generally. Bitcoin has no competition today. It took all the best sides of online payment, fiat, gold and others and joined in itself.
Bitcoin holds the first position among all crypto curencies today. But who can tell will it lead forever? Another crypto currency that can solve all minuses, yes, minuses are exist, of bitcoin can replace it one day.

[DoublerHunter]

Yes bitcoin has no competitors but there is always threats for bitcoin like the altcoins because most of the altcoins just copied bitcoin idea and if bitcoin performance will be low then those back up coins or what we called altcoins can be a real competitor for bitcoin and someday if bitcoin will continue to be bad then it will eventually loss the game.

[pinkpanther03]

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.

Agreed, aside from that altcoins is an alternative coin for bitcoin and most of them are anonymous unlike bitcoin as we all know is pseudonymous and some altcoins I think was regulated and bitcoin was unregulated so no wonder why bitcoin now is much more getting higher stronger the amount of value.

[Fatanut]

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.

Agreed, aside from that altcoins is an alternative coin for bitcoin and [1]most of them are anonymous unlike bitcoin as we all know is pseudonymous and [2]some altcoins I think was regulated and bitcoin was unregulated so [3]no wonder why bitcoin now is much more getting higher stronger the amount of value.

Lol, where did you get those ideas?

[1] People believe that bitcoin users are pseudonymous because you can create infinite number of wallets. The same thing is true with altcoins. You're still pseudonymous when you're using altcoins.

[2] That's not true at all. Bitcoin isn't regulated because the government can't do so. The same thing is true with altcoins.

[3] #1 and #2 is wrong so they are definitely not the reason why bitcoin is stronger and have much higher price than all altcoins. Bitcoin is the first one to be here, it's the most established one, and it's the number one crypto currency so anyone that's been using altcoins will eventually use bitcoins.

Oh boy, you were so uninformed about altcoins. Altcoins and bitcoin don't have that much difference except for the owner, market cap, usability, scalability, reliability, and target market.

[Xester]

There's some innovation in the altcoin scene. However there will likely never be enough to outmatch Bitcoin. In my opinion you would need an entirely new concept to achieve that.

Altcoins serve as a testing ground for new ideas. The good ones might later be integrated into Bitcoin, while the original altcoin is abandoned. The network effect of Bitcoin is just too strong for any other outcome. The key factor for the attractiveness of a cryptocurrency is the size of its user base and development community. No altcoin can compete with Bitcoin in that regard.

Alternative coins are not made to be a testing ground for new ideas. They are made by the developer to compete with bitcoin and to make profit. If you can noticed the developers are selling their coins to the public and the main idea is so that they can get profit from the coin that they created. Some coins succeed  but others have failed and are considered shitcoins.

[KennyR]

Bitcoin doesn't have any competition to grow high. Altcoins are a form of digital currency to serve the same functionality similar to bitcoin. Altcoins too emerge as an development in technology based on the same blockchain technology.

[Oralmat]

But if to talk about all financial system generally. Bitcoin has no competition today. It took all the best sides of online payment, fiat, gold and others and joined in itself.
Bitcoin holds the first position among all crypto curencies today. But who can tell will it lead forever? Another crypto currency that can solve all minuses, yes, minuses are exist, of bitcoin can replace it one day.

Yeah, who can tell bitcoin will be remain always, may be in future any strong cryto currency will be, who has a comparison of bitcoin. Because now bitcoin is number one, may be after some years, some one create any other crypto who more strong than bitcoin, than definitely people will be attract to other crypto and than bitcoin will be lose. But it is just speculation, in reality bitcoin is still number one. 

[szpalata]

Bitcoin doesn't have any competition to grow high. Altcoins are a form of digital currency to serve the same functionality similar to bitcoin. Altcoins too emerge as an development in technology based on the same blockchain technology.

Exactly, that's why they'll always be second to Bitcoin, they need to be innovative and get on running in order to give Bitcoin proper competition but if all they know is forking Bitcoin and other established Altcoins then Bitcoin will never have a real competition.

[BreakingSlow]

I wouldn't say that the Bitcoin has no competition because there are some people who like to use other currencies over the Bitcoin.
But the Bitcoin does have a major lead in popularity and worth ahead of the other currencies.

[bravehearth0319]

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.

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).
- Yes agreed on this things, bitcoin will  remain as original and solid one virtual currency in the near future. and anywhere you go in a country there is a bitcoin lover always, which shows that bitcoin is very well known all around the world.

[Dimelord]

I agree.Most of the other altcoins are just shit coins which are just pumped and dumped.Even the older altcoins still suffer in the race.Whenever bitcoin price increases,all the alts start bleeding.Just see what has happened to zcash and what was its price when it was first introduced.Nothing can match bitcoin.Bitcoin being the real king, other alts just doing make ups to show themselves as kings.

[The_Dark_Knight]

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.

Bitcoin seems to be even more dominant than before, but there is no doubt that challenges still loom ahead, the problem of scalability keeps bitcoin from reaching its maximum potential and the usability of bitcoin has decreased as transactions fees keep getting higher and higher.

[diagla]

Yes BTC is definitely the one with the most use and application but that doesn't show that it has no competition. As BTC becomes more expensive and as more coins are lost, it will be harder to buy in. It is very possible that another cryptocurrency may be more popular in a few years if BTC doesn't evolve.

[Maslate]

I wouldn't say that the Bitcoin has no competition because there are some people who like to use other currencies over the Bitcoin.
But the Bitcoin does have a major lead in popularity and worth ahead of the other currencies.

The competition is only with fiat but in crypto world, bitcoin is obviously leading them all and if bitcoin will continue to succeed the crypto market will also progress as a whole. For now we should be thinking that bitocin and fiat are different and if we compare it with bitcoin, we know already that bitcoin is nothing compared to fiat which is most widely use in this world.

[Schuyler]

For me, bitcoin’s competition is itself. There’s still no consensus as to which way to move forward and develop into something that offers a win-win solution.  This has lead to higher fees and congested network that makes confirmations take too long. Sooner or later, something must be done to figure out something that doesn't put bitcoin in a bad light.

[sevendust777]

All I can say that bitcoin has no competition. Crypto being compete into bitcoin but still the best is bitcoin. Nowadays, bitcoin is leading in the market because of its price that no other can compete of because of its popularity and demand. Bitcoin is being on top nowadays...

[choppork]

I wouldn't say that the Bitcoin has no competition because there are some people who like to use other currencies over the Bitcoin.
But the Bitcoin does have a major lead in popularity and worth ahead of the other currencies.

The competition is only with fiat but in crypto world, bitcoin is obviously leading them all and if bitcoin will continue to succeed the crypto market will also progress as a whole. For now we should be thinking that bitocin and fiat are different and if we compare it with bitcoin, we know already that bitcoin is nothing compared to fiat which is most widely use in this world.

I don't think so. Supposed that bitcoins skyrocketed to $10K because of mass adoption and all. I don't see why would that success will be the success of other cryptos as well. What I'm saying is that a dump coin will continue to be a dump coin regardless of bitcoin's success. At the time bitcoin is having some real success, there would be new coins coming in but the old coins will continue to be what they are unless someone picks it up and hype it up which is very unlikely to happen.

Just think of it as the success of an individual doesn't correlates to other people's success. I can become successful but other people won't get successful too just because I am.