Bitcoin has no competition

[danherbias07]

We can see now the competition that have been taking place and this one is getting stronger. It ain't a good thing anymore for investors might be divided and will come to think that this competitor have a better service.
At first altcoins are supposed to be there to make look bitcoin more important than others. But now, it seems like they really want to go way above it and somehow change to what we are used to.
At the end, if they all survived in the long run it will be the same. They will have problems with transactions also making it longer to exchange.

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[Ipwich]

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.

It's too early to tell, bitcoin is still the leading as we can see in it's value, the possible competition would only happen if altcoins will continue to rise and the opportunity will happen with bitcoin. Although I believe on that possibility but I'm still not losing my faith with bitcoin, it has been here for many years and the volume still keeps increase and the adoption would be a great factor to make it more successful.

However, you cannot expect the price just move in one direction as bitcoin is not known like that, what I believe is it is good for long term than atlcoins.

[Fatanut]

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.

You can own a hectare of land but you can't possibly physically hold them. Only a writing on a paper (Proof of ownership) decides that you really own that land. How about that?

Same as bitcoins. You can own a wallet, and own the coins inside it because you are the only one that has access to it. You are the only one that has the verification code, the password, and everything that's necessary to open it.

Physical property might be much safer than digital one when the physical form of something is too large for thieves to steal. Back to our example, a hectare of land can't possibly be physically stolen. But if it's something like a coin or a paper money, it's surely much easier to steal than your digital currency (bitcoins) although your bitcoins are just as safe as your efforts.

[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.

This one I will support you in this things, because like you I also bought an altcoin even now continuing buying it due to most of my bitcoin was came from the altcoin in which being sold in the exchange platform. From cheap value its profitable because it became more than x10 or more the value of coins.

[Winner]

Altcoins aren't really thought about when it's compared to Bitcoin because the p[rice of Bitcoin is really high. Bitcoin began around $0.005 and now it's $1,009.78. There's been many Altcoins that went up to and over 999.99 %, so I can't really say that there isn't any competition to Bitcoin percentage wise in just a short amount of time.
Bitcoin has the most stability when compared to an Altcoin though. I would choose Bitcoin over Altcoins.

[kidoseagle0312]

No offence OP. Stating that Bitcoin doesn't have any competition is pretty naive, there is an investment that is going up in value as time goes by. That investment is called Gold.
It may not seem like it's worth a bunch of money right now because of the volitility of the price though if you look beyond the USD price chart you will see that there wasn't a set price for Gold.

Gold is really a safe haven for some who know how to just count measurements and is more reliable than Bitcoin.

So, yes Bitcoin does have a competitor.

Gold will always be a competitor and not only to bitcoin but to fiat currencies as well since we must not forget that gold has been the currency of choice for thousands of years while fiat has been around in its current form just for a hundreds of years.

I think gold is not a competitor for bitcoin because they are so different to each other. Gold can be physical and virtual investment while bitcoin is just virtual and bitcoin is a currency/digital money while gold is just an investment or asset so for me we can't consider gold as a competitor but in my opinion, altcoins are more like bitcoin competitor rather than gold.

While it is true that bitcoin and gold have different characteristics both of them appeal to the same market, people that want to hedge against inflation or people that want to get out of the system of fiat controlled by the governments of the world.

Indeed, whenever bitcoin didn't created to compete any of this world in terms of trading it in the platform. even for Gold its only in the mind of the individuals that bitcoin is competing others but the real fact was not.

[paul gatt]

Altcoins aren't really thought about when it's compared to Bitcoin because the p[rice of Bitcoin is really high. Bitcoin began around $0.005 and now it's $1,009.78. There's been many Altcoins that went up to and over 999.99 %, so I can't really say that there isn't any competition to Bitcoin percentage wise in just a short amount of time.
Bitcoin has the most stability when compared to an Altcoin though. I would choose Bitcoin over Altcoins.

There are two ways to compare that. In terms of time, most of the altcoin can not last long, so it can not compete with bitcoin. Because bitcoin is very stable and popular, it is always in everyone's heart. However, in terms of value, there have been so many altcoins that have risen up and reached terrible value, it is 1xxx% over the original value, it will really be a competitor to bitcoin if It lasts long But that did not happen. It is difficult to compare.

[pinkpanther03]

I don't think so, bitcoin has competition and bitcoin needs competition,
the competition of bitcoin are altcoins as instrument​ of investments
it will makes bitcoin be alive and there are choice for making investments into digital coins,
it is like gold the competition is silver or other.

In any aspect of business, competition are always a part it, right? I guess most of the business minded person knows that things. although bitcoin was design for me not to compete by any of the business in this world. but majority of the business was bitcoin is competing them. So the result  the community of bitcoin are embracing the concepts and features of it, so the in the end the demand is getting higher. And most of it are altcoins is really the one who is competing with bitcoin.

[cryp24x]

I think altcoins are the one that should be considered as competitor of Bitcoin.  But alas, it seems Bitcoin is a mile up ahead agains this altcoin competitor.  they may have the technology bu Bitcoin have the base users.  that alon can dictate on which one will be successful compared to other cryptocurrency.

[andron8383]

I like BTC but living in Delusion that you are living in void, this is such DUMB statement.
Bitcoinmarketcap moving is constantly proving you wrong.
Currently there are coins that are making changes not many of them ETH NEM maybe others they fork all time they change skin to current need they evolve all time
fixing bugs and no one care there about fork... 2-3 months ago ETH had 2 hard forks to fix bugs/exploits and who cares today ?
BTC over 10 years haven't solved even malleability... Do you rally think that stance will sustain.
BTC will lose over time because of stagnation. If you think that block-size is worst thing to BTC you are wrong.
Do you rally think that making 1MB to XMb is ANY FUCKING sign of development progress ?
Segwit with LN is some fresh air to BTC while from my perspective making from BTC 1MB / 2 Mb / 2000MB block doesn't solve anything in real.
Progress is not about making one variable custom like BU... BU with their devs will land even worse than DASH or ETH.


People are constantly wrong lets take POS coins all talked about "nothing at stake" as big problem but in REALITY that never happened for few years while 51% attacks were common when multi-currency has been jumping to alts with low hash rates. Those alts implemented self adjusting blocktime to live...  I don't get why BTC is so afraid about that 51% it can just implant that dynamic adjustment and problem solved.

I think altcoins are the one that should be considered as competitor of Bitcoin.  But alas, it seems Bitcoin is a mile up ahead agains this altcoin competitor.  they may have the technology bu Bitcoin have the base users.  that alon can dictate on which one will be successful compared to other cryptocurrency.

Some alts have solutions that BTC will discus over next 10 years ...
DASH some kind governance model + master-nodes (paying for having NODE)
ETH - this is one is monster but they will have problem with block-chain size they will need cut outdated chains keeping balances.
NEM - nodes that pay iteslf for routing transfers and securing network (this is real work) while in BTC POW is just for being. I don't see that hashing work as more valuable than NEM/Dash nodes.
Alts with low marketcap have dynamic block adjustment to defeat 51%-99% hash power attract
POS alts solved power consumption problem (stop talking about nothing at stake problem because nor NEM, NXT, BLK had any problems with that )
Monero have anon by default
Alts can for easly and adopt while btc stay years in same possition today when blocks are full people are moving to alts...

I think you are missing point BTC is ahead but with market price today vs others.
I don't see development in BTC guys wallet looks like it was 4 years ago that is all.
https://bitinfocharts.com/comparison/transactions-btc-eth-dash-ltc-doge.html

Look like people runned to ETH when BTC stucked, look how free market works give ETH 2 years of BTC stagnation and i am sure that ETH > BTC in market cap and users.
ETH will cut blockchain and won't give a fuck to transactions hisstory they will keep las 5000block  + account balances.
Same time BTC will fight 1MB vs 2MB ... pathetic
i hope that BTC will change attidiute or will lose race for sure.

[tabas]

I think altcoins are the one that should be considered as competitor of Bitcoin.  But alas, it seems Bitcoin is a mile up ahead agains this altcoin competitor.  they may have the technology bu Bitcoin have the base users.  that alon can dictate on which one will be successful compared to other cryptocurrency.

That is what I think too, alt coins are the competition of bitcoin. But upon seeing on what's happening nowadays, the competition with alt coins are just because of this drama and politics. I thought it's alarming when I saw some alts pumping but in the end that's just made by those whales that wants to convert their bitcoin to something more profitable.

[andron8383]

I think altcoins are the one that should be considered as competitor of Bitcoin.  But alas, it seems Bitcoin is a mile up ahead agains this altcoin competitor.  they may have the technology bu Bitcoin have the base users.  that alon can dictate on which one will be successful compared to other cryptocurrency.

That is what I think too, alt coins are the competition of bitcoin. But upon seeing on what's happening nowadays, the competition with alt coins are just because of this drama and politics. I thought it's alarming when I saw some alts pumping but in the end that's just made by those whales that wants to convert their bitcoin to something more profitable.

you don't really see that ETH is choping BTC userbase ?
Current drama and stagnation of 2 years with scaling costed network current problems and btc lost some user-base to alts.
I hope they will solve problems sooner than later.
If BTC community will give momentum to ETH it will eant with flip-flap of market cap.

[HongKong]

Bitcoin has a competitor that's been around for a very long time.
Gold is the competitor of Bitcoin and the price of Bitcoin won't have the same value as Gold because Bitcoin is only a digital asset not an investment like some guys on this forum think.

There is a low supply of Gold compared to Bitcoin and Gold is a physical object so only a few people could get a hold of it.

[GreenBits]

I think altcoins are the one that should be considered as competitor of Bitcoin.  But alas, it seems Bitcoin is a mile up ahead agains this altcoin competitor.  they may have the technology bu Bitcoin have the base users.  that alon can dictate on which one will be successful compared to other cryptocurrency.

That is what I think too, alt coins are the competition of bitcoin. But upon seeing on what's happening nowadays, the competition with alt coins are just because of this drama and politics. I thought it's alarming when I saw some alts pumping but in the end that's just made by those whales that wants to convert their bitcoin to something more profitable.

you don't really see that ETH is choping BTC userbase ?
Current drama and stagnation of 2 years with scaling costed network current problems and btc lost some user-base to alts.
I hope they will solve problems sooner than later.
If BTC community will give momentum to ETH it will eant with flip-flap of market cap.

As a bitcoin maximalist, I'm starting to have to agree with this statement. Bitcoin doesn't exist in a vacuum anymore, and the latest debacle saw a lot of money move to ETH, that could have stayed in BTC. I think there is space for additional coins, but not because BTC faltered.

[Gembul]

Bitcoin has a competitor that's been around for a very long time.
Gold is the competitor of Bitcoin and the price of Bitcoin won't have the same value as Gold because Bitcoin is only a digital asset not an investment like some guys on this forum think.

There is a low supply of Gold compared to Bitcoin and Gold is a physical object so only a few people could get a hold of it.

But I think bitcoin with gold running on a different path. bitcoin as a digital currency can not be rivaled gold. I think gold will always sit at the top position because many countries use gold as collateral in money printing them. then with that gold will always be the first choice for but I think bitcoin with gold running on a different path. bitcoin as a digital currency can not be rivaled gold. I think gold will always sit at the top position because many countries use gold as collateral in money printing. Then with that gold will always be the first choice for owners of large capital investment. I think bitcoin in the near future will not even come close replaced gold in the slightest. because bitcoin and gold are two different things. Thank you, just IMO

[freedomgo]

:)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.

That not true, altcoins made some innovations as well and they are very competitive in the market, however it's not the developer that will dictate the success of their project but the people who will support it, if the investors trust them they will prosper like what happen with Bitcoin.

[bhadz]

I guess bitcoin has no competition because there is no coin that can rally with it's market cap. But I consider ETH as it's contender because many are into it right now and it attracts a lot of investor with their smart contracts. I know that many aren't going to consider ETH as a competitor but it depends on how you can see the market.

[meemiinii]

I think altcoins are the one that should be considered as competitor of Bitcoin.  But alas, it seems Bitcoin is a mile up ahead agains this altcoin competitor.  they may have the technology bu Bitcoin have the base users.  that alon can dictate on which one will be successful compared to other cryptocurrency.

i dont think so that altcoins can be or maybe consider as a competitor with bitcoin. we all know that these altcoins are just taken away from bitcoin. bitcoin is the mother of all cryptocurrency. moreover, most cases of these altcoins only stands in a couple of months (it may take years as long as the devs are not abandoning the project).

[Dimelord]

Altcoins are in no way competition to bitcoins.Even every altcoin price is valued based on bitcoins.Some altcoins are made with the aim of solving the psuedo anonymity issue like monero.Even then,they couldnot compete with bitcoins.Even the altcoin devs also dont want to compete with bitcoin and they just satisfy when their coin price is above the ICO price as success.

[XbladeX]

:)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.

Name me few innovations added to BTC over year ?