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.