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coynedterm
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March 17, 2017, 01:26:33 PM |
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I'm not sure if other digital currencies will deliver meaningful competition to bitcoin. It could happen, but the network effect and momentum that bitcoin already has would be hard to overcome.
Yeah , right bro But if you will see back in the history about the bitcoin and altcoins then you will found only that bitcoin was only king and other altcoins was only just for name to make small earning by pump & dump . But in the current time the bitcoin has many competition with other altcoins like ETH , dash , clock coin etc . After the bitcoin these are much more famous coins , So it may be poss that in the future the value of these altcoins comes about equal or more advantageous than bitcoin . Well currently the king is also bitcoin and we would like to have bitcoin only the king only . |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Salazarian
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March 17, 2017, 02:30:22 PM |
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I'm not sure if other digital currencies will deliver meaningful competition to bitcoin. It could happen, but the network effect and momentum that bitcoin already has would be hard to overcome.
i think yes there is no doubt that not a single currency can compete bitcoin. bitcoin is the number one currency of the world and i am hopeful that even in future bitcoin will remain as number one currency of the world, i think that a time will come when bitcoin will even overtake USD. |
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Mikellev
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March 17, 2017, 02:55:33 PM |
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I'm not sure if other digital currencies will deliver meaningful competition to bitcoin. It could happen, but the network effect and momentum that bitcoin already has would be hard to overcome.
There will be competitions for sure that's what will define the value of bitcoin and if you would have noticed already the value of alt coins like ETH and DASH has increased in last 24 hours because there is a drop in the value of bitcoin in last 24 hours so again once there is more transaction of bitcoin the value will be pumped up and there will be many competitions to bitcoin but its's not easy to achieve the mark which bitcoin has achieved now. |
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iamTom123
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March 17, 2017, 03:08:10 PM |
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Bitcoin will always enjoy the leading space and though there will always be newcomers challenging the leadership of Bitcoin I don't think they will succeed. They can survive alongside Bitcoin and can even be complimentary in nature but they can not defeat Bitcoin not unless someone can invent something that is of higher value and technology than what Bitcoin is providing. However, I can not see the future so this is just another opinion of mine.
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BitcoinPC
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March 17, 2017, 03:20:09 PM |
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If you pay attention to other crypto currencies, bitcoin is not the only one of its kind, but it is users who make valuable crypto currency due to the demand, and consequently popularity. But if you consider the real currency as a competitor bitcoin, then I think that this is wrong.
I guess to compare the bitcoin into fiat is wrong, since fiat is in real world money while bitcoin is in crypto world, they are totally in different, I think the way they spend they will be similar but there is nothing more. Bitcoin should be compare with other altcoins which are also digital. |
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Kabul
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March 17, 2017, 03:27:48 PM |
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If you pay attention to other crypto currencies, bitcoin is not the only one of its kind, but it is users who make valuable crypto currency due to the demand, and consequently popularity. But if you consider the real currency as a competitor bitcoin, then I think that this is wrong.
I guess to compare the bitcoin into fiat is wrong, since fiat is in real world money while bitcoin is in crypto world, they are totally in different, I think the way they spend they will be similar but there is nothing more. Bitcoin should be compare with other altcoins which are also digital. Even though they are different, Bitcoin can still compare with Fiat due to many different reasons. Bitcoin is faster, smarter, more awesome and can make the world better. The anonymity and the security are the best features in bitcoin and up to know, many people are enjoying to use this type of currency. However, confirmation time is now the important issue which need to be solved asap or Bitcoin will be totally destroyed |
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Osarman
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March 17, 2017, 03:59:26 PM |
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If you pay attention to other crypto currencies, bitcoin is not the only one of its kind, but it is users who make valuable crypto currency due to the demand, and consequently popularity. But if you consider the real currency as a competitor bitcoin, then I think that this is wrong.
I guess to compare the bitcoin into fiat is wrong, since fiat is in real world money while bitcoin is in crypto world, they are totally in different, I think the way they spend they will be similar but there is nothing more. Bitcoin should be compare with other altcoins which are also digital. i agree with you that there is a big difference between real money and bitcoin crypto currency because we know that bitcoin can be just use for online transaction and real money can be use for direct shopping in local shopping center. |
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eternalgloom
Legendary
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Activity: 1792
Merit: 1283
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March 17, 2017, 04:39:48 PM |
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I'm not sure if other digital currencies will deliver meaningful competition to bitcoin. It could happen, but the network effect and momentum that bitcoin already has would be hard to overcome.
i think yes there is no doubt that not a single currency can compete bitcoin. bitcoin is the number one currency of the world and i am hopeful that even in future bitcoin will remain as number one currency of the world, i think that a time will come when bitcoin will even overtake USD. I seriously doubt that Bitcoin will stay #1 forever, just look at the succes that ETH and DASH are having currently. I'm guessing it might have something to do with Bitcoin's current situation, which will not end soon I'm afraid. Once dash breaks 100 dollars, I can easily see it overtaking Bitcoin's first spot. |
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Yamato Tatsuki
Newbie
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Activity: 33
Merit: 0
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March 17, 2017, 05:11:00 PM |
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Well, if there are alt coins taking over bitcoins then I guess we have to take advantage on that. But listen, you cannot buy ETH using Monero or vice versa... those coins needs to be sold in BTC first before buying another altcoin... so BTC surely is staying.
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hatshepsut93
Legendary
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Activity: 2968
Merit: 2145
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March 17, 2017, 06:08:06 PM |
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First, having no competition is really bad for any project, since competition drives progress. Without it devs could relax and take years before implementing new features or even not think about them at all. But thanks to alternative currencies there is a pressure to work faster and better on development of Bitcoin. In my opinion right now Dash, Monero and Ethereum are the only altcoins that can compete directly with Bitcoin, and though they are far from taking #1 spot, they all have a lot of value and innovation, so if Bitcoin will take the wrong turn on its development, we might have one of those coins as the main cryptocurrency within next 2-3 years.
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thefaucetrunner
Sr. Member
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Activity: 714
Merit: 250
Defend Bitcoin and its PoW: bitcoincleanup.com
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March 17, 2017, 06:26:03 PM |
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Well, if there are alt coins taking over bitcoins then I guess we have to take advantage on that. But listen, you cannot buy ETH using Monero or vice versa... those coins needs to be sold in BTC first before buying another altcoin... so BTC surely is staying.
Bitcoin is a king of crypto currency and altcoins are too small in compare to bitcoins and they will never achieve the position that bitcoin has achieved so I don't think there is any competition for bitcoin in crypto world but fiat can be treated as its competitor as many people are not aware about bitcoins and are using only fiat currency. |
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nickhiggins123
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March 17, 2017, 06:26:32 PM |
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Bitcoin is officially garbage, spent 3 hours sending a transaction last night. I'm over it.
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Ron~Popeil
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March 17, 2017, 06:28:25 PM |
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I'm not sure if other digital currencies will deliver meaningful competition to bitcoin. It could happen, but the network effect and momentum that bitcoin already has would be hard to overcome.
i think yes there is no doubt that not a single currency can compete bitcoin. bitcoin is the number one currency of the world and i am hopeful that even in future bitcoin will remain as number one currency of the world, i think that a time will come when bitcoin will even overtake USD. I wish it happens but competitions are something which brings best out of everything and bitcoin has competitions with other altcoins and i am sure bitcoin will come over those challenges to remain number one but bitcoin will not replace any fiat. |
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audaciousbeing
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March 17, 2017, 06:48:00 PM |
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Currently, we can say bitcoin has no competition but I hope it will keep it for that long not because I am a doom prophet but because of the factors involved firstly is the fact that the price of bitcoin if it becomes unaffordable then I see people looking for options here and there, another is the issue of anonymity which is being contested as other crypto are coming to beat that among other several reasons.
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mammon
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March 17, 2017, 06:55:37 PM |
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Bitcoin is officially garbage, spent 3 hours sending a transaction last night. I'm over it.
Let me guess, you didn't add a fee? |
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horace08122
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March 17, 2017, 07:10:06 PM |
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Currently, we can say bitcoin has no competition but I hope it will keep it for that long not because I am a doom prophet but because of the factors involved firstly is the fact that the price of bitcoin if it becomes unaffordable then I see people looking for options here and there, another is the issue of anonymity which is being contested as other crypto are coming to beat that among other several reasons.
Of course, bitcoin leads in all directions, and in the field of crypto currency, bitcoin does not really have any competitors. But if you compare all the currencies of the world, then the dollar still has the greatest demand, and it is used by many more people. |
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mindrust
Legendary
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Activity: 3248
Merit: 2425
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March 17, 2017, 07:14:09 PM |
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I don't want to believe this but it looks real. ETH and BTC has the same amount of trading volume for the last 24 hours on btc-e. (20M $/24h)
Do people really think that eth is the next bitcoin? (sounds like a shit idea tbh) Or is there a huge scam going on?
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FLoving
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March 17, 2017, 07:19:20 PM |
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I don't want to believe this but it looks real. ETH and BTC has the same amount of trading volume for the last 24 hours on btc-e. (20M $/24h)
Do people really think that eth is the next bitcoin? (sounds like a shit idea tbh) Or is there a huge scam going on?
It was the past when it was thought that Ethereum is the competitor of bitcoin and will go to become a next bitcoin as after ts hack people have lost trust on it fully and now mostly traders buy and sell ethereum coin as they think anytime any issue can happen with this technology. |
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stergium
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March 17, 2017, 08:27:07 PM |
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I'm not sure if other digital currencies will deliver meaningful competition to bitcoin. It could happen, but the network effect and momentum that bitcoin already has would be hard to overcome.
yes no doubt about this that it can happen but i think still it is not such ans easy job as bitcoin is still the number one currency and not a single currency is still trading so near to bitcoin, i am hopeful that after some good time bitcoin will become more and more stronger. |
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Bestwishes745
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March 17, 2017, 08:36:48 PM |
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I don't want to believe this but it looks real. ETH and BTC has the same amount of trading volume for the last 24 hours on btc-e. (20M $/24h)
Do people really think that eth is the next bitcoin? (sounds like a shit idea tbh) Or is there a huge scam going on?
It was the past when it was thought that Ethereum is the competitor of bitcoin and will go to become a next bitcoin as after ts hack people have lost trust on it fully and now mostly traders buy and sell ethereum coin as they think anytime any issue can happen with this technology. you are right and i will add that even in that time in the past ethereum was unable to compete bitcoin because bitcoin was mush established than ethereum and ethereum was just in the starting points of its progress. They both were in their way and the speed of bitcoin was faster so even in that time bitcoin had no competition. |
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