Bitcoin has no competition

[deisik]

I believe this, Bitcoin has no competitors. It seems to be the longest exist electronic currency. Bitcoin is developing very strongly. Its value is constantly rising. As the demand of Bitcoin users has increased dramatically, miners and merchants are also increasing. In the electronic currency rankings, Bitcoin always stands first. Its value is also much higher than that of other electronic coins. Bitcoin has been around for a long time, and with the value of the present, I think it is hard to find a currency that can beat Bitcoin. Bitcoin is number one

I dont think so, maybe there are some currency their that already exist like litecoin. But in my opinion bitcoin and litecoin is a currency uses by many people, it doesnt mean they compete to each other but the who make competition? well, for me the people uses them are the one who keeps and holds bitcoin competed to each other, not the currencies.

There is really no competition all alternative coins must give way to Bitcoin's dominance because it is their representation of the cryptocurrencies. If Bitcoin fails as a currency then the other altcoins will do so. Right now Bitcoin's growth is not yet over it is still getting more demand everyday and I don't think that Bitcoin users right now are looking for other cryptocurrency.

Exactly that's what point also. Bitcoin is open to all, then why should we compete bitcoin to other cryptocurrency? There's no competition between then, not at all, it just happen that the users think about it and only users from bitcoin to other currency make some competition. Yes bitcoins growth is not yet over, and it will not over because as we can see it is more progressive and demand in the market nowadays

And how does Bitcoin openness prevent competition exactly?

I would rather say that it is this feature specifically that allows free competition between currencies since a free market (which is what all cryprocurrencies are essentially about) means just that, i.e. free competition. More specifically, a user himself has to make a free choice what currency he is going to stick to by valuating the benefits and advantages of this coin versus its downsides and drawbacks. So this is not about whether we want to compare Bitcoin to some other currency or not, it it how the matters stand in real life

[Yutikas_11920]

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.

Hmm, maybe that is true. But you need to know, using bitcoin system similar to that of the world economy. If it is indeed being one of the bitcoin, certainly if it exceeds the maximum limit and if there has been no change that could replace the bitcoin then most likely the thinking and the way you do your analysis is wrong. Because some rare items, if no one can rival and give the advantage of some rare items are still there most likely give you a price that is very large and growing more popular
 

[bitbunnny]

At the moment Bitcoin doesn't have some serious competition among cryptocurrencies although there are many attempts some very ambitious. But in many ways Bitcoin still can't compete with fiat currencies and there is the space for progress. Gold is also the kind of competition so that is also one thing we have to have in mind.

[romero121]

At the moment Bitcoin doesn't have some serious competition among cryptocurrencies although there are many attempts some very ambitious. But in many ways Bitcoin still can't compete with fiat currencies and there is the space for progress. Gold is also the kind of competition so that is also one thing we have to have in mind.

Bitcoin has got very few potential competing virtual currencies. As said by above mate that too is not very ambitious, because those currencies suddenly rise and drops down in a short. Now after a long few coins have been experiencing high growth rate, but not potential as bitcoin. Also bitcoin can't compete with fiat but will serve as a secondary option next to fiat.

[blackhawkeye1912]

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.

This totally true, most of the altcoin is helping us to have a bitcoin into our wallet. I think that's major thing purpose of altcoin, for us to buy  bitcoin once the value are much reasonable to sell it then it will become bitcion already. also altcoin helped bitcoin to promote it well, so meaning altcoin is not competing bitcoin it is only in the mind of others.

[BitcoinPC]

At the moment Bitcoin doesn't have some serious competition among cryptocurrencies although there are many attempts some very ambitious. But in many ways Bitcoin still can't compete with fiat currencies and there is the space for progress. Gold is also the kind of competition so that is also one thing we have to have in mind.

Bitcoin has got very few potential competing virtual currencies. As said by above mate that too is not very ambitious, because those currencies suddenly rise and drops down in a short. Now after a long few coins have been experiencing high growth rate, but not potential as bitcoin. Also bitcoin can't compete with fiat but will serve as a secondary option next to fiat.

Right, bitcoin has only few competitive virtual currencies. I also realize other crypto currencies came and up and suddenly down, also most of the other crypto currencies have no trust to the people. The main reason now bitcoin has no competitive because now bitcoin has been achieved high value of price $1067. So now other crypto currencies can't comparative bitcoin's price. So people always prefer to bitcoin than others.

[UCHCHILD]

Yes, bitcoin cannot compete to fiat because fiat can be touch while btc can only be seen in screen.
And it needs more improvement to get long in the real economy.

[xIIImaL]

Yes, bitcoin cannot compete to fiat because fiat can be touch while btc can only be seen in screen.
And it needs more improvement to get long in the real economy.

 I think you are not much aware bitcoin i guess because the person who knows the bitcoin's potential they won't say that fiat more powerful. Btc is best and convenient than fiat money. You need a help of any financial services to send or receive that until you meet directly but bitcoin can act as a money as well as transaction medium. Please read more bitcoin while you surfing in Google.

[naughty1]

If the BTU does not appear, what you say is absolutely true, however, at present, BTC itself is branched and it has a competitor, which is BTU. There are not any coins that can compete with bitcoins, but they are competing with it, and the ones who cause it are the miners. BTC is competing with BTU, and we still can not determine the winner. Time will show all, and we should make our own choices.

[Xester]

If the BTU does not appear, what you say is absolutely true, however, at present, BTC itself is branched and it has a competitor, which is BTU. There are not any coins that can compete with bitcoins, but they are competing with it, and the ones who cause it are the miners. BTC is competing with BTU, and we still can not determine the winner. Time will show all, and we should make our own choices.

I dont agree with that. Even if BTU will appear it will become just another altcoin in the market and it can never place a threat nor be treated as a competition to bitcoin. If you remember when Ethereum and Ethereum Classic split there was a huge gap in their price. And if that possible split will happen to bitcoin the same thing will happen BTC will prevail over BTU.

[abonarea]

My understand about BU is this there have been many serious attempts to derail the Bitcoin through different ways by the developers themselves by raising different issues over the last years. Bitcoin is dominating and will be the at the top to be base currency for any altcoin even after this drama will reach to its end.

[igorokavg13]

My understand about BU is this there have been many serious attempts to derail the Bitcoin through different ways by the developers themselves by raising different issues over the last years. Bitcoin is dominating and will be the at the top to be base currency for any altcoin even after this drama will reach to its end.

I also had the opinion that all these actions are aimed at undermining bitcoin. I noticed - as soon as the price of bitcoin becomes high, it is immediately spoken about hard fork. This is done specifically

[deisik]

If the BTU does not appear, what you say is absolutely true, however, at present, BTC itself is branched and it has a competitor, which is BTU. There are not any coins that can compete with bitcoins, but they are competing with it, and the ones who cause it are the miners. BTC is competing with BTU, and we still can not determine the winner. Time will show all, and we should make our own choices.

I dont agree with that. Even if BTU will appear it will become just another altcoin in the market and it can never place a threat nor be treated as a competition to bitcoin. If you remember when Ethereum and Ethereum Classic split there was a huge gap in their price. And if that possible split will happen to bitcoin the same thing will happen BTC will prevail over BTU

It can be even more than that

With the miners which support the BU project falling off after Bitcoin Unlimited is launched (provided it gets launched at all, which is a big if), there will likely be less resistance to SegWit and further updates to Bitcoin Core which are long due and overdue. As I understand it, miners that support BU are essentially the same miners which oppose SegWit. Therefore, the old Bitcoin, Bitcoin Core, may get a tremendous boost with BU finally limping on its own, apart and away from Bitcoin. That's basically why I want the BU endeavor to get separated from genuine Bitcoin as soon as possible

[epitome]

With the recent price rally in almost all of the alt coins and Dash crossing the hundred dollar mark,there might be a competition at a later time i would guess because i never expected any coin to cross those figures other than bitcoin and now we have some coins that have rallied past their best valuation and only future will tell the story.

[Janation]

Bitcoin will remain as a digital currency and it will be used by many people in the whole world. But saying it has no competitions, it has competitions, though bitcoin is nust the popular one because it has the highest price. There are niners that mine other altcoin and then convert it to bitcoin. They do these because these altcoins are easy to mine and they can earn a lot of altcoin that they can convert to bitcoin.

[Potato Chips]

Bitcoin will remain as a digital currency and it will be used by many people in the whole world. But saying it has no competitions, it has competitions, though bitcoin is nust the popular one because it has the highest price. There are niners that mine other altcoin and then convert it to bitcoin. They do these because these altcoins are easy to mine and they can earn a lot of altcoin that they can convert to bitcoin.

Right now, I wouldn't call it a competition because they aren't even close to bitcoin. But I will call them rivals instead. Maybe in a few years there will be a competition since, DASH, XMR and ETH are doing a great job. That's why people should also watch and save at least one of them.

That's true because there is a excessive competition in bitcoin trading so most people go for altcoin but the fact that it is just another way to earn bitcoin just proves that it is still the king.

[BitDane]

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.

I do not think Bitcoin and gold are competitor.  They are two different items.  Bitcoin is digital, gold is physical.  Bitcoin is intended to be a currency  thought people called it a store of value while gold, aside from being store of value have several usage in electronics world.  If we look for Bitcoin competitor, it should be in the same field with Bitcoin.  Looking at its field , there are lots but nothing comes close.

[Ipwich]

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.

I do not think Bitcoin and gold are competitor.  They are two different items.  Bitcoin is digital, gold is physical.  Bitcoin is intended to be a currency  thought people called it a store of value while gold, aside from being store of value have several usage in electronics world.  If we look for Bitcoin competitor, it should be in the same field with Bitcoin.  Looking at its field , there are lots but nothing comes close.

I would say the same, gold is better than bitcoin in terms of stability and it has been in existence for so long already even before the time paper money is recognize. Bitcoin is only the new currency only and it is has physical value, we support bitcoin that is why the demand is getting bigger but that would not assure anyone it will continue. Gold has proven that it could stay valuable over a longer period of time while bitcoin still needs to prove it.

[virasog]

At the moment Bitcoin doesn't have some serious competition among cryptocurrencies although there are many attempts some very ambitious. But in many ways Bitcoin still can't compete with fiat currencies and there is the space for progress. Gold is also the kind of competition so that is also one thing we have to have in mind.

It is because bitcoin need to improve its features. And yes, I agree that bitcoin cannot ever compete with fiat currencies because of bitcoin is just in virtual in internet access unlike fiat we can touch it physically, unless people will provide lots of physical bitcoin in real, there will be the competetion then after printing lots of it.

[pecson134]

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.

I do not think Bitcoin and gold are competitor.  They are two different items.  Bitcoin is digital, gold is physical.  Bitcoin is intended to be a currency  thought people called it a store of value while gold, aside from being store of value have several usage in electronics world.  If we look for Bitcoin competitor, it should be in the same field with Bitcoin.  Looking at its field , there are lots but nothing comes close.

I would say the same, gold is better than bitcoin in terms of stability and it has been in existence for so long already even before the time paper money is recognize. Bitcoin is only the new currency only and it is has physical value, we support bitcoin that is why the demand is getting bigger but that would not assure anyone it will continue. Gold has proven that it could stay valuable over a longer period of time while bitcoin still needs to prove it.

This means that bitcoins being a virtual currency is still not considered as yours until you hold them physically by making them into money. Physical property is much safer than the digital one which is susceptible to being rob to one person. Though there are offline wallets still many users do uses online wallets just like me.