Bitcoin Is Leaving Other Digital Coins in the Dust - What's your opinion?

[bitalive]

Just found this Bloomberg report "Bitcoin Is Leaving Other Digital Coins in the Dust". What do you folks think about this?
https://www.bloomberg.com/news/articles/2017-10-26/bitcoin-dividend-play-is-leaving-other-digital-coins-in-the-dust

[pooya87]

there are two things i don't like about it. first is the title of it which is talking about bitcoin leaving other digital coins in the dust which in my opinion is meaningless because that is nothing new! bitcoin is bar far ahead of the rest of them, and that is because of its usefulness whereas altcoins are absolutely useless!

then the notion of the forks which  the article mostly focused on. saying things like "bonus of additional coins" is generally a dangerous way of thinking which will lead to a lot of headache for a lot of weakly designed forks like bitcoin gold which may even lead to loss of bitcoin because of a lot of faults of these poorly coded forks. replay attacks, leaking your private keys are two that comes to mind.

[bitalive]

somehow, i share the same feeling here

[Iranus]

saying things like "bonus of additional coins" is generally a dangerous way of thinking

This seems similar to something I saw in the satirical subreddit r/buttcoin.

In the future every citizen in the world will have their own crypto currency. We will all be rich AF!

What many users on this forum and Bloomberg are saying about forks is exactly what people there are insulting.  They're treating forks as if they're some sort of money tree which isn't affected by supply and demand from interested BTC users.  The money doesn't just appear out of nowhere.
As for the main point about BTC dominance, I think this is just a correction.  Alts were significantly overvalued relative to BTC, so now alts are going back to where they were before all of the hype started.

Well, it might not quite get as far as it was before and I think crypto will stay diverged a fair bit, but it'll at least go back since the FUD about "the flippening" has passed.

[romec1701]

Bitcoin is the original cryptocurrency. It is far from perfect and has many flaws that other coins have solved.

However, it has the backing of the original community (since they are all rich because of its high value) and they wont abandon it.
Also with all new money coming into crypto - it goes to bitcoin mostly. only some then leaves and goes into Altcoins.

So it will continue to gain in momentum, faster than alt coins and this trend will continue for the foreseeable future.

The only way for it to stop would be for an entirely new altcoin - or an existing one to get more well known in the non-crypto world and to make it easier for people to enter the market by trading for fiat currency.

Lots have tried to do this. Lots have failed. But it may happen one day (perhaps Electroneum).
We will see.

[LFC_Bitcoin]

Bitcoin is galaxies ahead of all other crypto, there isn’t just space for one coin though. If bitcoin gains mass adoption then there will be a gap in the market for a couple of other coins or platforms to succeed also.

[teilwalL05]

Many were shock by the upward trend of bitcoin now, but this is really not new, because we can really see the big difference of value when it comes to bitcoin and other coins bitcoin stayed in the increase pace even if the Fork is already finished and I think it is because of the momentum of a lot of investors getting their Bitcoin Gold and exchanging it fast to bitcoin.

[GreenBits]

Can't really say that bitcoin is outperforming all other coins, unless you only consider price.

We really havent had any major innovation lately in my opinion, because we are so determined to spend time fighting and wasting precious resources over these forks. LTC got seg waaay before we did, ETH has all its fun bells and whistles, and even a few more coins have made the transition to seg, all while we were scrabbling about it instead of implementing it. We will need to do a lot more to expand the roles of contracts on our blockchain. besides blockchains, the other takeaway from crypto seems to be these contracts. Tether, while very useful, is nothing like the simplest ETH smart contract.

[azmiupb]

Yeah :v just bitcoin is the highest currency in the world. Just sad many country banned bitcoin.

[rahul10948]

Right now yes..but this is the normal cycle of cryptocurrency...sometime its altcoin and sometimes its bitcoin....

[hacker1001101001]

yes, i think bitcoin is far way from any other digital currency and it is also more popular than any other currency. Bitcoin is the first of all  digital currency i this most of the money and digital coin transaction indirectly or directly pass through bitcoin and then converted to real money.

[dali_masmoudi]

Bitcoin is making a revolution in the world of cryptocurrencies. But some thinks that it is leaving other crypto in Dust, maybe it is true according to its evolution comparing to other digital coins.
The raise of the different cryptoes are having a revolution too but not like Bitcoin which has its own customers and users.

[dothebeats]

What many users on this forum and Bloomberg are saying about forks is exactly what people there are insulting.  They're treating forks as if they're some sort of money tree which isn't affected by supply and demand from interested BTC users.  The money doesn't just appear out of nowhere.
-snip

Exactly. It's crazy that most people in this forum think that like fiat, altcoins can just fork themselves and voila! New money is created out of thin air. There's still money flowing around these forks and stating that it is completely unaffected by currently existing market caps is just plain absurd and nonsensical to me. Money just flows around bitcoin and other alts, and to underestimate the power of alts in regards to overall market caps and economic effect isn't well thought by the one who made the article.

[mrcash02]

Bitcoin was always ahead, it's true, but I think the article focus on this title because the advantage of BTC over AltCoins increased more recently and it's more evident. There is always some people thinking one or another AltCoin can surpass Bitcoin and become the main one of Crypto-World, but when BTCs power is too evident like now it's hard to believe in such things.

[hknatm]

 i am wondering how many forks will happen more. Also this forks still be effecting alts. coz i wan to buy alt and forget it but somehow i cant trust the market's behaviour. in latest fork i lost good amount of btc. I dont want it to happen again. so are we in dust , definitely!

[dancingnancy]

Just found this Bloomberg report "Bitcoin Is Leaving Other Digital Coins in the Dust". What do you folks think about this?
https://www.bloomberg.com/news/articles/2017-10-26/bitcoin-dividend-play-is-leaving-other-digital-coins-in-the-dust

I like the fact that bitcoin is dominating the market, but that doesn't necessarily mean it's stealing all the spotlight. Other altcoins are still coming up and might even be as valuable as bitcoin in the near future. Bitcoin being the first few cryptocurrencies has a higher goodwill too.

[thesmallgod]

I hope bitcoin survive from media and government who doesnt like the ecurrency because of the success. alot have been said about bitcoin recently. some said its encouraging cyber crime, some said it is not a currency. whatever it is i believe bitcoin has change so many lives than the government have done. phobia of bitcoin success is making people really jealous

[Flor1982]

Just found this Bloomberg report "Bitcoin Is Leaving Other Digital Coins in the Dust". What do you folks think about this?
https://www.bloomberg.com/news/articles/2017-10-26/bitcoin-dividend-play-is-leaving-other-digital-coins-in-the-dust

It is natural that bitcoin will leaving behind with a huge gap of value against altcoins simply because bitcoin is the first digital currency founded that without the success of bitcoin, altcoins will not going to exist.These altcoins are just following the path of bitcoin and just a copycat hoping that they might on top that people will consider to invest to them.

[arbitrage]

Bitcoin is galaxies ahead of all other crypto, there isn’t just space for one coin though. If bitcoin gains mass adoption then there will be a gap in the market for a couple of other coins or platforms to succeed also.

There are two types of people here:

Investors like me and you who are not interested in ideology behind Bitcoin and for us this is not so important.

Second group are real believers that thinks they can change the World with new ideas. Decentralization, privacy..are ideas which are taken more seriously in other projects, and other coins.  Human rights - privacy and security are major problems today. They are open minded and putting a lot of efforts in resolving real life problems. So whay they are called S... Coins? Because of rising number of scammers who are very rarely hunted here.

I cannot understand how someone can believe in Bitcoin and not to leave small space for something new. Evidently we have traumas from the old system who does not like competition.

And I'm not sure I want to stay in this first group.

[bitalive]

Investors like me and you who are not interested in the ideology behind Bitcoin and for us this is not so important.

 --- Agree with it.

[BitcoinHodler]

yeah, but the other "digital coins" never really had much of a chance against bitcoin because of the top 3 altcoins that are currently taking their place. when we are talking about their performance in altcoins, there are a lot of them and most of the times the big 3 take all the attention away from the good coins.
and bitcoin with all its "real" potential can easily go to the moon and leave them behind.

[berluscoin]

Bitcoin is way better for now because it also has infrastructures built for it. You have many places to spend bitcoin, you have around a thousand of ATM to operate with bitcoins as it was a credit card.
The transition from horses to cars happened in decades, then it took around 90 years to introduce the bus.
Bitcoin is like the first car, now everything is built around it, but there are other coins waiting for their time. They are not going to replace bitcoin in my opinion, they just have other functions, like the bus that can carry more people, consuming less fuel.

[crypto_Butterfly]

Yes all other altcoins have been badly gone down. I thnk they will further goes down in next couple of weeks and bitcoin keeps mooing.

[tomahawk9]

Just found this Bloomberg report "Bitcoin Is Leaving Other Digital Coins in the Dust". What do you folks think about this?
https://www.bloomberg.com/news/articles/2017-10-26/bitcoin-dividend-play-is-leaving-other-digital-coins-in-the-dust

It has been this this way for a long time. Every day people are becoming aware of Bitcoin and what it can be in the future. Bitcoin is a decentralized system, offers more security and anonymity for transactions than any other centralized payment service on the market, and the fact there are way more scammers using what are claimed to be 'safe payment processors', well, it would be dumb not to think that Bitcoin and the blockchain technology are the future of digital currencies and payment systems.

[Kiweikoo]

Yes all other altcoins have been badly gone down. I thnk they will further goes down in next couple of weeks and bitcoin keeps mooing.

Yes bitcoin is moving with high speed to peak, more people are attracted by seeing the benefits and ease it is providing it to the people. It is providing a good chance to earn good amount of money and secure the future. Other  altcoins failed because they were not having wise plans , they were unable to satisfy the people but no worries about bitcoin because its web is expanding quickly.

[Adney041]

I don't agree entirely. I mean, sure, bitcoin is has waaaay more value than other altcoins, but with you also have to understand that it had a huge head start and currently enjoys the lion's share of community support within the cryptosphere. The tanker will really tip once institutions start investing heavily in cryptos, and then we'll see where the water flows into. My bet is on ETH and IOTA, since they seem the most high-bandwidth utility technologies in the space, but I wouldn't discount tokens like Leverj and Nucleus.Vision either, since they're well-established, have solid backing and are targeting mass-market industries. Won't deny I'm super excited to see how it pans out

[Jacob Oram]

 Bitcoin is the future of value storage. I don't know how tokens like Nucleus.Vision might pan out, but know this: Bitcoin is easily the equivalent to digital gold, and there is no other metal that has held such a consistent value over such a long time. When Bitcoin stabilizes, the scarcity will ensure that it is the global hub of digital value exchange.

[2fresh]

Price wise it is, tech wise other coins leave bitcoin in the dust. But everyone still prefers bitcoin.

[AwpDragonPoor]

Bitcoin has always been ahead, but thats because it was the first innovative idea that was created. It was the original cryptocurrency that has inspired all of the altcoins to be made, and that is why it is valued so much highly than the others. Factors such as popularity contribute heavily towards their pricing, and because of how many people have heard of Bitcoin, this causes a domino effect that allows it to grow faster. I reckon that towards the future, altcoins may catch up to bitcoin after people realise the inconveniences that BTC has.

[Argoo]

there are two things i don't like about it. first is the title of it which is talking about bitcoin leaving other digital coins in the dust which in my opinion is meaningless because that is nothing new! bitcoin is bar far ahead of the rest of them, and that is because of its usefulness whereas altcoins are absolutely useless!

then the notion of the forks which  the article mostly focused on. saying things like "bonus of additional coins" is generally a dangerous way of thinking which will lead to a lot of headache for a lot of weakly designed forks like bitcoin gold which may even lead to loss of bitcoin because of a lot of faults of these poorly coded forks. replay attacks, leaking your private keys are two that comes to mind.

With this reasoning, I completely disagree. In principle, bitcoin is not much different from other digital coins. It is very popular because it was the first crypto currency and very high in value, because as the first crypto currency became very widely known, while some other types of crypto currency are still unknown to the broad public stake. The Altkoins play and will continue to play a very big role in our life, until they simply have not yet manifested themselves, since the crypto currency and the infrastructure under it are only developing. This can not be done in a few years, since the crypto currency is too revolutionary and unusual.

[Harley29]

Bitcoin is galaxies ahead of all other crypto, there isn’t just space for one coin though. If bitcoin gains mass adoption then there will be a gap in the market for a couple of other coins or platforms to succeed also.

There are two types of people here:

Investors like me and you who are not interested in ideology behind Bitcoin and for us this is not so important.

Second group are real believers that thinks they can change the World with new ideas. Decentralization, privacy..are ideas which are taken more seriously in other projects, and other coins.  Human rights - privacy and security are major problems today. They are open minded and putting a lot of efforts in resolving real life problems. So whay they are called S... Coins? Because of rising number of scammers who are very rarely hunted here.

I cannot understand how someone can believe in Bitcoin and not to leave small space for something new. Evidently we have traumas from the old system who does not like competition.

And I'm not sure I want to stay in this first group.

Yes it true bitcoin replaced a lot of crypto and if there are some left in market so they have no demand and its users are very less there is a possibility that bitcoin will replaced paper money also because bitcoin is now very strong and stable in market bitcoin achieved a lot of goals and that the reason bitcoin have a respect in world it’s still planning to achieve some more goals so its mean bitcoin can be a future currency and it will survive on the top.

[matrixaquatic]

Bitcoin is a lot more popular than any other cryptocurrency because of the fact that it was there considerably longer than any other crytocurrencies like litecoins.

[rickadone]

Bitcoin is a lot more popular than any other cryptocurrency because of the fact that it was there considerably longer than any other crytocurrencies like litecoins.

Yeah, I agree because most of the people trust bitcoin the most and that’s why they invest only in bitcoin. There are many other currencies in the market and now people have stared investment in other currencies but there is a lot of gap between bitcoin and any other currency. No other currency could be compare with bitcoin. Other currencies are in dollars less than 100 or 500 while bitcoin has reached almost 20,000 dollars levels.

[fancypretty]

Bitcoin has its ups and downs, it may be on top of the cryptocurrencies now but things can change in the future. Btc is among the leading for sure.