What would happen if there was only one cryptocurrency, which is Bitcoin?

[jeraldskie11]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

[EL MOHA]

I don’t feel that bitcoin has any competitor to be honest and if they were no Altcoins the adoption of bitcoin doesn’t look like something that would be affected because even now the number of people that go into cryptocurrency are through bitcoin, so even without the other coins they will still come.

The price of bitcoin might increase only due to demand because without the Altcoins which promises huge returns and some people will to have invest almost all of that into bitcoin, which means a high demand of bitcoin than now.

Without altcoins many wouldn’t be in Disney world that they could be become rich over night from it and without them the scams done by fake or shit coins wouldn’t be there and the cryptocurrency space will actually gain the purity that bitcoin brings

[Oshosondy]

What I know is that it is not possible for bitcoin not to have alternatives, but it is very disappointing that most of the coins are centralized. But if bitcoin does not have alternatives which are the other cryptocurrencies that we are talking about, it would be better. Instead of people buying those altcoins, thinking they can not make enough profit in bitcoin, they would have rather invested their money in bitcoin if there are no shitcoins. But in this life, there would be alternatives, but bitcoin will remain the giant.

[komisariatku]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

In my opinion, the development of the cryptocurrency world would slow down if there were no altcoins. Why is that? because altcoins also help promote the concept of blockchain and cryptocurrency, whether they admit it or not, altcoins have contributed to the popularity of bitcoin

Although altcoins do not compete directly with bitcoin, they play a big role. If we talk about competition then it occurs between altcoins, such as ETH and BNB. As in the business world, the more product competition there is, the more people will promote the product, consumers just have to choose which product is the best. This also applies to bitcoin, and bitcoin is the best so no matter how many altcoins there are, nothing will be able to shift bitcoin's position.

[Antotena]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Bitcoin is open source, which means the codes that describes how it's built is opened for everyone to see, so there is no way for Bitcoin to exist alone as the only cryptocurrency. Even the bitcoin has been forked many times due to disagreement between the developers that have different ideas about it, even though bitcoin win all of them at the end.

However, even if we are to assume bitcoin as the only cryptocurrency, small investors will find it challenging to enjoy it because only the big men with the large money will dominate it,bitcoin price will be big that you will only be able to own some fractions and for the price to double, it will take forever. Imagine bitcoin price was at 100k and you invested $100, you have to wait for it to reach $200k to be in profit which can take forever or even slide downward in value, it's going to be discouraging.

[hyudien]

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Indeed, if you look at it from the positive side, there is nothing wrong, but in terms of position, Bitcoin will still be the main support for why altcoins were created. Basically, all of them provide benefits to each other, thus creating encouragement and various interests from investors and traders by ending up at the same peak of the most important digital asset, namely Bitcoin.

[EarnOnVictor]

How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

1. Bitcoin would be at a higher price if it was the only cryptocurrency developed. This is practical, all the money being held in other cryptocurrencies would be held in it alone, and that amount is at $1.32 trillion according to CoinGecko. By simple calculation, Bitcoin should be far higher than it's current ATH if it was the only cryptocurrency existing.

2. I don't believe that Bitcoin would develop faster than it has if there was no competition. It has tried enough and has broken the record of an asset that has been so much appreciated in a very short time by the world. It can't possibly do more as it's even the reason why other cryptocurrencies were ever known.

3. Your opinion is wrong my friend, Bitcoin speaks for itself and it's not thriving due to altcoins, but altcoin thrives due to Bitcoin. And as a matter of fact, Bitcoin is the most trusted cryptocurrency today, not otherwise.

However, the only issue I see that you didn't mention is that, if Bitcoin is the only cryptocurrency, it might cause some issues even though it supposes to be good. The miners would earn more due to monopoly and the system would be congested thereby delaying transactions. It's better this way but I wish Poopcoins should be abolished if possible.

[Texac]

There will be pros and cons, the downside is that too many altcoins appearing will also dilute the investment in bitcoin.  without altcoins, people would only invest in bitcoin, so the demand for bitcoin would increase even more than it already is. the benefit is: without altcoins to compare, we won't be able to know how good bitcoin is, we need to have something to compare to to know which is good.  

Furthermore, I prefer competition because it gives investors, users more choices and if we are confident that bitcoin is the best then we should not be afraid when there are many competitors with bitcoin.

[adultcrypto]

Without alternatives to Bitcoin, a lot things would have happened. First, scam would have reduced because a lot of the scams carried out in cryptocurrencies were through the various shit coins.
Secondly, Bitcoin acceptance and penetration would have been deeper because many people would have been involved in Bitcoin especially those who ran away from anything cryptocurrency because of their terrible experience with other cryptocurrencies. Most of those fell for pump and dump and buying worthless tokens in ICO and launchpad.

Last but not the least, the price of Bitcoin would have been far higher than it is now.

[_act_]

In my opinion, the development of the cryptocurrency world would slow down if there were no altcoins. Why is that? because altcoins also help promote the concept of blockchain and cryptocurrency, whether they admit it or not, altcoins have contributed to the popularity of bitcoin

What that led to more scam. If there is only bitcoin, scam would have reduced because their will be nothing like DeFi and DAO scam, there would be nothing like bump and dump schemes which are the modernized ponzi schemes of today that government are not able to do anything about it. There will not be anything like fake project and failed project of new coins. If there is only bitcoin existing, scam would have reduced but altcoins bring scam. If you think that I am not correct, go and read more about crypto scam and see how altcoins are responsible for more than 75% of crypto scam annually.

[m2017]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

What do you mean by development? If we talk about technical development, then in the absence of competitors to the bitcoin, it could develop faster thanks to developers who work on other projects. The more specialists are involved in one project, the faster this project can progress. This is in theory. But whether they would actually do this is an interesting question.

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

You can count me among these people. Still simple. The money that was “stuck” in other projects or “lost” in scam projects could significantly bump up the value of the bitcoin. The more money flows into the system, the higher the bitcoin price.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

The question is formulated incorrectly.
The buyer would be thinking, should I buy bitcoin, gold, stock, real estate or wait until my money loses value?

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

You may be sad or you may be happy, but this will not change the current state of affairs in the market. Accept the cryptomarket as it is, as a given, and “work” with what you have without fantasizing.

[BIT-BENDER]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Bitcoin is in no competition with any other coin in crypto-currency and that's the beginning the end of it. In terms of popularity, adoption/acceptance Bitcoin is both head and shoulders above, also it's just like saying how would it be if dollar is the only currency in Fiat, this is impossible Soni think thinking about the impossible is fruitless .

[Apocollapse]

I'm sure the adoption would be higher than present, but I don't think it's really that high since not every people who interested to buy shitcoins would invest in Bitcoin when there's no other crypto. There's still stock, gold, real estate, or even gambling since people are looking for instant way.

[Z_MBFM]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

If there was no cryptocurrency other than Bitcoin, Bitcoin would not have proved to be the best. and people weren't that attracted to Bitcoin. Now everyone can see that there are huge amount of cryptos in the market and they are also very valuable and there Bitcoin alone dominance 51.25% of the entire cryptocurrency market alone. and that's why Bitcoin is so popular around the world

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

Misconception, Bitcoin gained more support due to other cryptocurrencies entering the market and Bitcoin becoming so popular.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

Right, In reality, this is exactly what happens. and I agree with you this words

[CarnagexD]

I'm sure the adoption would be higher than present, but I don't think it's really that high since not every people who interested to buy shitcoins would invest in Bitcoin when there's no other crypto. There's still stock, gold, real estate, or even gambling since people are looking for instant way.

That's what's going to happen definitely but I am sure that there's going to be more skeptic about the capability of bitcoin because when there's more people that will invest in bitcoin then the more it's prices will increase obviously (supply and demand) and with the unprecedented increase in prices, that's going to make people suspicious about how fast the pumps in prices are which will make them think that bitcoin is a scheme that's going to attract you to invest in and then suddenly pull the rug on you when the price is just right for them, that's why I'm thankful that bitcoin isn't the only cryptocurrency out there, the spreading of detractors are just right.

[kryptqnick]

There was a time when there was only Bitcoin, and a long time when there were just a handful of altcoins. Needless to say, Bitcoin cost next to nothing during that time, but as the crypto market was growing, so was Bitcoin. There's a strong positive correlation between the growth of the altcoin market and the Bitcoin price, but a big question is whether they're causally related at all. The way I see it, altcoins aren't taking anything away from Bitcoin. They're growing out of the newly created demand, and so is Bitcoin. A big market draws more attention, so it's a positive influence. If altcoins had never appeared, I think Bitcoin would have been taken less seriously, as a standalone weird thing rather than the best currency out of a huge market of similar currencies. So I agree with the op that it's a positive thing that altcoins exist.

[komisariatku]

In my opinion, the development of the cryptocurrency world would slow down if there were no altcoins. Why is that? because altcoins also help promote the concept of blockchain and cryptocurrency, whether they admit it or not, altcoins have contributed to the popularity of bitcoin

What that led to more scam. If there is only bitcoin, scam would have reduced because their will be nothing like DeFi and DAO scam, there would be nothing like bump and dump schemes which are the modernized ponzi schemes of today that government are not able to do anything about it. There will not be anything like fake project and failed project of new coins. If there is only bitcoin existing, scam would have reduced but altcoins bring scam. If you think that I am not correct, go and read more about crypto scam and see how altcoins are responsible for more than 75% of crypto scam annually.

I think wherever there is fraud, if there is only bitcoin then it is very likely that fraudsters will use bitcoin as their ruse. Apart from that, if there was only bitcoin then there would not be a big promotion about crypto so it is possible that crypto would not be popular now, or it might take longer to become known to many people.

So in my opinion bitcoin and altcoins synergize with each other in building a crypto framework. Regardless of the existing controversies and interests

[Beparanf]

I don’t feel that bitcoin has any competitor to be honest and if they were no Altcoins the adoption of bitcoin doesn’t look like something that would be affected because even now the number of people that go into cryptocurrency are through bitcoin, so even without the other coins they will still come.

All blockchain project is Bitcoin competitor because all other blockchain exists because Bitcoin can’t handle scaling problem before way back when there’s no other popular blockchain alternative such as Ethereum.

Bitcoin blockchain is more popular because it’s the real decentralized blockchain among the bunch of blockchain that usually use PoS while the team holds the majority of the coin that affects the decision making towards the project.

I believe without other cryptocurrencies, Bitcoin price may or may not pump since scaling problem is still the biggest issue now.

[Obari]

I’m not replying to this post as a sort of trying to argue but I think the acceptance of bitcoin would have been more if we had only bitcoin because one of the major reason especially in my country from my personal observations is that fact that a lot of scam cases have been associated with bitcoin and most of these scams are mostly through altcoins and if there weren’t other coins, I think bitcoin would have thrived more than better this.

[Shishir99]

Do you even count those altcoins as competitors of Bitcoin? Surely those are not competitors of Bitcoin. Look at the dominance. But once Bitcoin was developed, the Idea of Cryptocurrency was already out and other developers decided to create their own coins/tokens. There are millions of cryptos at this moment but Bitcoin dominance is 52% at this moment. It's half of the market.

Actually, those altcoins helped Bitcoin. It helped users understand which one they should trust and which one is not. A user should not trust a centralized coin that can be manipulated by the developers.

[Upgrade00]

How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

I dare say the price will not be affected by it at all. The investments going into altcoins will have it entirely gone to Bitcoin and a number of people discovered Bitcoin as a result of the relentless marketing by altcoin projects. I believe both factors balance themselves out very nicely.

Bitcoin does not have a competition and it's development is independent of external factors.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

The latter does not benefit bitcoin at all.

[BlackHatCoiner]

I don't know with certainty if that'd help it financially, but it doesn't matter; this whole topic misses the essence of cryptocurrency, which is freedom of action. Bitcoin is an implemented idea, and ideas are bulletproof.

Altcoins are not as harmful for Bitcoin as people think. Sure, get-rich-quick schemes make bitcoin look inferior, but we ought to respect the part where testing firstly comes out in altcoins. Check out Litecoin for instance. Last year they tested Mimblewhimble. Lightning and segwit were also implemented there. You can make testing of new features cost less with altcoins.

[Lorence.xD]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

In my opinion, the development of the cryptocurrency world would slow down if there were no altcoins. Why is that? because altcoins also help promote the concept of blockchain and cryptocurrency, whether they admit it or not, altcoins have contributed to the popularity of bitcoin

Although altcoins do not compete directly with bitcoin, they play a big role. If we talk about competition then it occurs between altcoins, such as ETH and BNB. As in the business world, the more product competition there is, the more people will promote the product, consumers just have to choose which product is the best. This also applies to bitcoin, and bitcoin is the best so no matter how many altcoins there are, nothing will be able to shift bitcoin's position.

Same thought on this one, Bitcoin alone can probably survive as it was the digital currency that survived and reached peak price in long term. But the adoption of crypto currency worldwide and also the development. These altcoins actually existed due to Bitcoin, which is the root of any other coins/tokens in the crypto industry. It's like in business, you have the original and your own signature of business for example for the food, as it gains popularity some people would try to copy it since people are acknowledging it. It's like a rip off, it can be cheaper and the quality is just fair unlike to the original ones, which we can compare to Bitcoins to altcoins. These altcoins also helped a lot of people as they also invested to it as long as you would not expect too much from it like in Bitcoin.

[tabas]

It's possible that the growth of Bitcoin could have been faster if there's no other cryptocurrencies in the market. But I think I'll go by that it has been better with all of these altcoins that have been made throughout time because it just shown on how valuable Bitcoin is. We have understood on how Bitcoin is important in the market and how it's making the move for majority of the cryptos in the market. If it's not about other cryptocurrencies, we can't determine on what actually Bitcoin is but because of them, we can say that Bitcoin is the OG of the cryptos and the king of this market.

[danadc]

If bitcoin were the only crypto, for me it would be something much better, the rest is Known that they do not have the same functionality as bitcoin, because bitcoin is what makes all the other Cryptocurrencies exist, there is no way that another Cryptocurrencies would be more Stronger than bitcoin, for me there will come a time where all cryptocurrencies will die and the only one that will survive will be bitcoin, because that is the trend, there are a large number of cryptocurrencies, where the majority end up being frauds, they fall and never again They rise up, and this is because they do not do what they should do, they are afraid of centralized Exchanges and all the developmen t, if bitcoin were the only currency it would have a higher price.

[avikz]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

I don't think that we wouldn't have any issue if there is no alt coins. Bitcoin truly has no competition. Also majority of the users use USD value to derive the price of a bitcoin. So honestly it doesn't matter whether there are altcoins in the market or not.

But having one or two altcoins sometimes help. But certainly we don't need thousands of altcoins in the market where majority of the coins are dead. One strong Bitcoin is preferred over a crowded market.

[famososMuertos]

Hi OP,
 First of all, it is an #TBT question, which has the potential for discussion only in the idea of allowing new generations or those who perhaps learning about bitcoin to ask it.

Bitcoin will be bitcoin, and any other cryptocurrency that brings something unique and new, as bitcoin did, has its unique existence.

It happens with the minerals that we know, a comparison that is only equitable than not equal as some sometimes want to make it seem, such as gold, e.g.. In that idea, gold is a mineral but it is unique, there are other valuable minerals that are compared.

Minerals are categorized according to their usefulness, value, importance, etc.  Cryptocurrencies are the same equitable, but regardless of that, each of them is represented in its usefulness, value, importance, etc. as happens with bitcoin.

Same:(I repeat I have used the equivalence of minerals, but the examples can be transferred to other items)

[OgNasty]

There were always going to be multiple cryptocurrencies, but none of the others were ever taken seriously since they were mostly rip offs of Bitcoin. However, once the block limit was forced down our throats there were needs that Bitcoin could no longer fill, causing people to have to support other rip off currencies to keep their businesses running.

[Amphenomenon]

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

Bitcoin price would have actually been higher because bitcoin price is not determined by the price/no of altcoins existing but how people sees it and more people would have invested more on and so there won't be any such thing as diversifying investment.

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

There is really not any much positivity because altcoins have been filled with too many scams projects and this has affected the world judgements as a whole, market manipulators easily control the altcoin market and all this are among reasons SEC still have a reason not to accept bitcoin ETF

[darkangel11]

I don't know with certainty if that'd help it financially, but it doesn't matter; this whole topic misses the essence of cryptocurrency, which is freedom of action. Bitcoin is an implemented idea, and ideas are bulletproof.

Altcoins are not as harmful for Bitcoin as people think. Sure, get-rich-quick schemes make bitcoin look inferior, but we ought to respect the part where testing firstly comes out in altcoins. Check out Litecoin for instance. Last year they tested Mimblewhimble. Lightning and segwit were also implemented there. You can make testing of new features cost less with altcoins.

That's the only negative aspect of altcoins. Many of them are scams and those that want to stop bitcoin use this fact to mix them all together.
The way they see it, bitcoin is a cryptocurrency, bitconnect also was a cryptocurrency. If bitconnect scammed people who will bitcoin, so we have to stop bitcoin.
Also it affects crypto newbies who think that buying bitcoin is risky because you can get scammed, or "someone" will run off with your money. They don't know who that will be, but hey, every project has its author, owner, creator, that's pulling the strings.
I don't think that bitcoin would develop any faster with or without altcoins, but it would develop faster without governments trying to slow it down. They've regulated a number of crypto companies into nonexistence.

[Gozie51]

I believe altcoins is what has made bitcoin adoption and investment still in doubt by those who are yet to see through their eyes where bitcoin is going. People have misplaced altcoins for bitcoin and have invested wrongly in altcoins which either have be delisted or have reduced in value, so they still feel bitcoin is same with altcoins and would be a bubble and suddenly disappear. So I believe if bitcoin was the only cryptocurrency, then their won't be another version of something looking like it for comparison and it will be in its world just as the only visual currency and the value will of course be more appreciated.

[fzkto]

It's possible that the growth of Bitcoin could have been faster if there's no other cryptocurrencies in the market. But I think I'll go by that it has been better with all of these altcoins that have been made throughout time because it just shown on how valuable Bitcoin is. We have understood on how Bitcoin is important in the market and how it's making the move for majority of the cryptos in the market. If it's not about other cryptocurrencies, we can't determine on what actually Bitcoin is but because of them, we can say that Bitcoin is the OG of the cryptos and the king of this market.

Perhaps if there weren't so many altcoins, there wouldn't be so many exchanges appearing. Interest in cryptocurrencies would not have arisen because of the hype. Bitcoin could be worth much less than it is now and not be so popular. The hype around altcoins attracts new users.

[Bananington]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?

If bitcoin is the only cryptocurrency there is, as bitcoins becomes more known, and more people start to want to purchase bitcoins, there will be high demand for it and that will increase the value bitcoin has because many people want it. When people hear of cryptocurrency, altcoins give them an option against bitcoins. The mistake is often made to invest in altcoins because many of them may think that they are late to bitcoins and no longer will be able to profit from it.

[thecodebear]

There would be positive and negative effects on Bitcoin if no other cryptocurrencies had yet been created.


Positive effects:

1. People wouldn't associate Bitcoin with Crypto and therefore wouldn't associate it nearly as much with scams, useless tokens, useless NFT pictures, etc. People also wouldn't be under the mistaken idea that newer cryptos are "better, more advanced, etc" and that Bitcoin is "outdated old slow tech".

2. Anyone interested in cryptocurrency would be buying Bitcoin, not buying Ethereum or meme tokens or any other random token. Tons of people wouldn't be under the mistaken impression that X-random-token is the "next bitcoin" and will replace bitcoin. People wouldn't be under the mistaken impression that the future of crypto is app tokens and bitcoin is just money so its not as useful as an app.

3. In 2021 we saw a lot of noobs who didn't know what they were doing flood into the market buying useless meme tokens to try to get rich quick, whereas in previous bull runs these people would have been buying Bitcoin. Bitcoin has lost its get rich quick appeal in favor of random meme tokens. This isn't necessarily bad, cuz nobody should think of Bitcoin as a get-rich-quick-scheme, though you could certainly get rich quick from it up until 2017, but it just means the bull markets are going to be smaller for Bitcoin because even the people who aren't interested in throwing their money at smart contract stuff or random crypto app tokens, their money gets diluted away from Bitcoin during bull runs to pile into an assortment of useless meme tokens.

4. There would be so much regulatory / legislative problems toward the industry because there wouldn't be so a wide and questionable variety of assets to make rules about. There would just be Bitcoin, which is just a currency. The govt problem in relation to crypto would be far far simpler and easier for govts to implement basic rules.

5. A thousand times less noise in the space, and therefore a lot easier to educate people on the value of Bitcoin and what it is and what it isn't.


Positive or Negative effects:

1. The fact that there are tons of different things happening in the crypto industry including smart contracts, NFTs, all sorts of apps and crypto companies, brings in a lot of big money investment and wider interest than if it were just Bitcoin. Of course, ultimately these VCs and firms and regular people generally end up losing their money cuz they are throwing money at questionable tokens. So this could be seen as either good for getting more people interested in the space who will probably eventually get some Bitcoin, or bad cuz the vast majority of those people get burned on tokens and might even become critics of the cryptocurrency space because of it and it just makes the industry look bad when all these things collapse and people and firms and companies lose money.

2. Different kinds of consensus mechanisms besides PoW make the cryptocurrency-uneducated people all think PoW and Bitcoin are terrible, but for the educated it makes everyone realize how much better Bitcoin's PoW is compared to all the alternatives. Lots of people push for PoS cryptos to replace Bitcoin or for Bitcoin to convert to PoS, but these are people who aren't educated on Bitcoin or the space in general. So this could be a negative or a positive, it'll be either one based on crypto-education level.


Negative effects:
1. All the different things people are trying, like smart contracts, can give the Bitcoin community and creators ideas for how to expand Bitcoin for future upgrades and higher layer networks to allow Bitcoin to do more things, but in a way that preserves the security/decentralization core of Bitcoin, instead of leaving that behind for features like the rest of the crypto world has done. Without all these crypto experiments there may be less ideas for innovation.

2. The fact that so many cryptocurrencies have been created and none of them come close to doing what Bitcoin does allows us to make the very strong argument that creating a Bitcoin replacement, even with "better" future tech, may not even be possible. The fact that people have been trying to do this for a decade and every single one has failed to get remotely close to the strengths of Bitcoin proves Bitcoin's unique value. If no other cryptos had been made the crypto-uneducated could still be making a reasonable argument that other cryptocurrencies could be made to challenge or replace Bitcoin. But because this has been done and has been a failure, anyone educated on the space can easily ignore these claims as absurd and naive.




Overall, in some way it would be better for Bitcoin, in some ways worse. Less noise, less scams, less associating Bitcoin with other cryptos/scams, less govt intrusion/problems, easier to educate people about the space, fewer disaster stories of people losing their money (though still certainly plenty of people would lose money on Bitcoin by now holding long term and selling during crashes, or even just complaining for a couple years during crashes), and everyone who wants into the space would just be buying Bitcoin. But also less innovation, far less proof of Bitcoin's unique importance and value, and perhaps an overall smaller interest in the space in general, which if Bitcoin was the only one that means less interest in Bitcoin. Honestly hard to say if the overall net effect would be positive or negative for Bitcoin. I would say probably mildly positive for bitcoin, and overall positive for society due to much less noise and scams and losses and collapses and easier for govt and the populace to get educated about.

[EL MOHA]

I don’t feel that bitcoin has any competitor to be honest and if they were no Altcoins the adoption of bitcoin doesn’t look like something that would be affected because even now the number of people that go into cryptocurrency are through bitcoin, so even without the other coins they will still come.

All blockchain project is Bitcoin competitor because all other blockchain exists because Bitcoin can’t handle scaling problem before way back when there’s no other popular blockchain alternative such as Ethereum.

And this is why i state that bitcoin blockchain or any of its kind are not it’s competitors. When we say they are competitors then they could solve the problem surrounding bitcoin and better it. But if they don’t solve the problem and people still prefers it than those coming to solve the problems like bitcoin cash proclaimed with scalability then it is no competition to me. Competition is only when people move to the other side but no bitcoin still remains without any

[coolcoinz]

Since I'm a bitcoin maxi, I'd say that there would be more positive than negative things happening.

Of course there's always that rare positive feature when someone hears about an altcoin, tries to invest, gets burned (or not) and learns about bitcoin in the process. Later these people become bitcoiners and abandon shitcoins of their own free will. Even if this happens to 1% of shitcoin investors, this can outweigh the negative aspects of the existence of these shitcoins.

[tabas]

It's possible that the growth of Bitcoin could have been faster if there's no other cryptocurrencies in the market. But I think I'll go by that it has been better with all of these altcoins that have been made throughout time because it just shown on how valuable Bitcoin is. We have understood on how Bitcoin is important in the market and how it's making the move for majority of the cryptos in the market. If it's not about other cryptocurrencies, we can't determine on what actually Bitcoin is but because of them, we can say that Bitcoin is the OG of the cryptos and the king of this market.

Perhaps if there weren't so many altcoins, there wouldn't be so many exchanges appearing. Interest in cryptocurrencies would not have arisen because of the hype. Bitcoin could be worth much less than it is now and not be so popular.

Well, one thing that's for sure is we don't know what it would be but every speculation on how it went if it's only Bitcoin, it's possible that there's not that much growth as it looks like that there's no competition. We can realize from this point of view that competition is healthy.

The hype around altcoins attracts new users.

And from there, they're also attracted to Bitcoin at some point because they will realize on how valuable Bitcoin is on this market and why everyone is holding it and tells them that whenever they are in profit, it's best to just put that stack on Bitoin.

[The Cryptovator]

How could we imagine that something doesn't exist or will never exist? What if there weren't bitcoins? Then there's no altcoin there either. With altcoins together, we have a cryptocurrency industry, so without altcoins, the industry can't stand; otherwise, there will be only the bitcoin industry. There is an altcoin; hence, investors know the value of Bitcoin. For example, we sometimes hate centralised exchanges, but these centralised exchanges make Bitcoin popular because you can trade and make money with alts. So alts are playing a major role in the crypto industry.

[_BlackStar]

How could we imagine that something doesn't exist or will never exist? What if there weren't bitcoins? Then there's no altcoin there either. With altcoins together, we have a cryptocurrency industry, so without altcoins, the industry can't stand; otherwise, there will be only the bitcoin industry. There is an altcoin; hence, investors know the value of Bitcoin. For example, we sometimes hate centralised exchanges, but these centralised exchanges make Bitcoin popular because you can trade and make money with alts. So alts are playing a major role in the crypto industry.

I also asked the same thing - but your question already represents what I want to say. Bitcoin is not essentially competing with altcoins for a bigger market - but altcoins are creating competition and that has made bitcoin increasingly popular in its own right.

About centralized markets - I agree they have a good role to play in helping bitcoin users grow. Bitcoin is more popular because of it, especially with the convenience it offers. However – centralized markets should be considered a legitimate place to trade, not a safe place to store assets long term.

[mirakal]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Even if we try to assume that bitcoin has no competition in the crypto market, but people will still be comparing it into other types of investment like gold, stocks or real estate. So the competition will still be possible.

However, if only bitcoin will exist in the market without altcoins and shitcoins that will deceive the people, I would say the crypto market will be boring and bitcoin price will never be exciting. I would not even expect for faster adoption of bitcoin since people will more likely to favor gold or real estate. But if there are altcoins on the side that are seeing bitcoin as their model, then people will be more wise to chose which crypto is capable to give them decent profits, or they could have invest in both cryptos for investment diversification, and jut learn from their outcome which coin deserves higher allocation the next time they decide to invest again. 

[Cryptomultiplier]

How could we imagine that something doesn't exist or will never exist? What if there weren't bitcoins? Then there's no altcoin there either. With altcoins together, we have a cryptocurrency industry, so without altcoins, the industry can't stand; otherwise, there will be only the bitcoin industry. There is an altcoin; hence, investors know the value of Bitcoin. For example, we sometimes hate centralised exchanges, but these centralised exchanges make Bitcoin popular because you can trade and make money with alts. So alts are playing a major role in the crypto industry.

I also asked the same thing - but your question already represents what I want to say. Bitcoin is not essentially competing with altcoins for a bigger market - but altcoins are creating competition and that has made bitcoin increasingly popular in its own right.

About centralized markets - I agree they have a good role to play in helping bitcoin users grow. Bitcoin is more popular because of it, especially with the convenience it offers. However – centralized markets should be considered a legitimate place to trade, not a safe place to store assets long term.

For me, Bitcoin wouldn't have done better had it been the decentralized network or system on which they operate was monopolized.
It would have done bad. It wouldn't have gained as much publicity as it does now and wouldn't have be distinguished from the ideas and visions of the other cryptocurrencies currently existing.

I also think most importantly that the government would have been able to shut down the idea of Bitcoin, that is, it will be well sealed for generations, until they be able to discover it or the genius behind its idea and begin to implement it. That would be when fiat fails due to inflation or other factors.

The competition among cryptocurrencies mostly Bitcoin right now is healthy and it is what has led to innovations and gain for investors currently. Bitcoin sure is the pioneer and its stability in this volatility period makes it more on demand than the other cryptos.

[coupable]

In response to the Op hypothesis, I adhere to my old position that some impossible hypotheses cannot provide benefit of any kind. This is similar to repeatedly wondering about Satoshi's personality and those perceptions about what the situation would be like if Satoshi were present in person or if he suddenly appeared.
Although there are a large number of altcoins, I do not consider any of them a real competitor to Bitcoin or even comparable to it. Also, the existence of these currencies is what increases the popularity of Bitcoin and people’s trust in it.

[jeraldskie11]

I don’t feel that bitcoin has any competitor to be honest and if they were no Altcoins the adoption of bitcoin doesn’t look like something that would be affected because even now the number of people that go into cryptocurrency are through bitcoin, so even without the other coins they will still come.

All blockchain project is Bitcoin competitor because all other blockchain exists because Bitcoin can’t handle scaling problem before way back when there’s no other popular blockchain alternative such as Ethereum.

And this is why i state that bitcoin blockchain or any of its kind are not it’s competitors. When we say they are competitors then they could solve the problem surrounding bitcoin and better it. But if they don’t solve the problem and people still prefers it than those coming to solve the problems like bitcoin cash proclaimed with scalability then it is no competition to me. Competition is only when people move to the other side but no bitcoin still remains without any

Even if they are unable to solve the Bitcoin problem, they still have a useful feature that Bitcoin does not. Because it is ranked first, Bitcoin did not compete with other cryptocurrencies; however, those cryptocurrencies are trying to overtake or rank below Bitcoin. For instance, if we take a look at the market capitalization of Ethereum and Bitcoin, which is Ethereum around 200 billion dollars and Bitcoin is 600b, there isn't much of a difference. We are all aware of Ethereum's ongoing development to become a more valuable cryptocurrency. If they didn't consider Bitcoin to be a rival, they might have considered other altcoins.

[BitDane]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Since the question is just a case scenario then we can answer it by a case scenario of Bitcoin price being only one in the cryptocurrency industry.  Right now the marketcap is around $1.27T  dividing it to the current supply of Bitcoin which is 19,527,662 BTC then we can get a price of $6,503,594.74

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

If there is no competition and there is a monopoly on the market, it is obvious that Bitcoin will have a higher price.  This also happen in a regular business establishment who has the monopoly of the products or service.

Having a competition, the fund going to the market is divided so it is an obvious thing that the price will get cheaper or lower but the service will surely improve since one wanted to give more satisfying service or products in order to get the interest of the investors/client.

[panganib999]

It's not gonna work for the crypto industry. The reason why it's so big and profitable right now is because it was generous enough to allow everyone to create their own crypto and get the chance to break the market and earn their place in the industry, if we were to bar them from doing so and just allow bitcoin, innovation will die and no one will be able to compete. I guess bitcoin wouldn't die cause we can put them up for ETF on the stock market and after some time it would be accepted into NASDAQ, but the point I'm trying to make is that the industry's good enough as it is. I want it to stay like this and improve upon this current formula. If we were to bar people from creating their own cryptos what's the point of making crypto "decentralized"?

[romero121]

Even if there is only one cryptocurrency and that is bitcoin, people will be with some sort of thoughts whether to invest into cryptocurrency or some other assets. Human minds were like monkey minds, it won't be stable. It is our understanding that makes to get fixed to something. Here the existence of lots of altcoins is good for bitcoin according to me. With this people were able to clearly differentiate and understand which is better.

If we have got only one bitcoin, even if it had grown high and have the best technology it won't be much used. When there is competence the growth will be reached shortly, if not this happens in a gradual way. In that stance we might've not experienced the ATH of bitcoin to be this high. At some point ethereum was a real competing asset and those things have pushed the growth to some extent.

[Captain Corporate]

I can't really say it would be worse than this. Obviously, it is important to have options, and its great that people have their options, that is not a bad thing and I support that. However, we need to realize that just bitcoin alone itself would have gotten a lot more money as well, people wouldn't invest into silly stuff and all that money would go to bitcoin. Lets assume that bitcoin gets 1 trillion, and all other coins get another trillion, that's 2 trillion total, even if the rest would only invest 500 billion, that would still be %50 more to bitcoin alone. That is why it would have made bitcoin a lot stronger as well and I would be a lot more glad to invest into it without trouble.

[oktana]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

If it was just Bitcoin, its price wouldn't be where it is as all the investors of altcoins would pour their funds into one thing (Bitcoin). That also tells a lot about what level of development Bitcoin would have had. I mean... think of it. Imagine if all the "crypto" investment was just on Bitcoin, it would cost a lot more by now.

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

I personally don't have grudges against altcoins, I believe that they have their purpose too. We're just speculating on what we think would be the case if Bitcoin was alone, and like I said, it would have done better as it'll be the one and only crypto.

[Assface16678]

I can't really say it would be worse than this. Obviously, it is important to have options, and its great that people have their options, that is not a bad thing and I support that. However, we need to realize that just bitcoin alone itself would have gotten a lot more money as well, people wouldn't invest into silly stuff and all that money would go to bitcoin. Lets assume that bitcoin gets 1 trillion, and all other coins get another trillion, that's 2 trillion total, even if the rest would only invest 500 billion, that would still be %50 more to bitcoin alone. That is why it would have made bitcoin a lot stronger as well and I would be a lot more glad to invest into it without trouble.

I agree, bitcoin itself will be enough, in fact, if bitcoin is only the existing crypto currency its price will be more higher, it will rock sky. Why? Simple, supply and demand, if there are only limited bitcoin due to many investors buying it, and it takes time to mine a bitcoin, then its demand will be higher and higher, resulting in huge profit potential. But, of course, we can't control others as technology will be easily copied, and there are altcoins. Still, it's better, as you said, to have other options so that people will have a variety of coins to play with to earn. But that downside is there are also coins that emerge, coins we call shitcoin which is a dangerous coin mainly used for scamming which is alarming, because as many people still new to crypto they tend to skip learnings and knowledge and tens to invest in those untrusted coin, which is shitcoins.

[posi]

I can't really say it would be worse than this. Obviously, it is important to have options, and its great that people have their options, that is not a bad thing and I support that. However, we need to realize that just bitcoin alone itself would have gotten a lot more money as well, people wouldn't invest into silly stuff and all that money would go to bitcoin. Lets assume that bitcoin gets 1 trillion, and all other coins get another trillion, that's 2 trillion total, even if the rest would only invest 500 billion, that would still be %50 more to bitcoin alone. That is why it would have made bitcoin a lot stronger as well and I would be a lot more glad to invest into it without trouble.

I agree, bitcoin itself will be enough, in fact, if bitcoin is only the existing crypto currency its price will be more higher, it will rock sky. Why? Simple, supply and demand, if there are only limited bitcoin due to many investors buying it, and it takes time to mine a bitcoin, then its demand will be higher and higher, resulting in huge profit potential. But, of course, we can't control others as technology will be easily copied, and there are altcoins. Still, it's better, as you said, to have other options so that people will have a variety of coins to play with to earn. But that downside is there are also coins that emerge, coins we call shitcoin which is a dangerous coin mainly used for scamming which is alarming, because as many people still new to crypto they tend to skip learnings and knowledge and tens to invest in those untrusted coin, which is shitcoins.

But I have a question for you and some people say that just bitcoin is enough. Are you sure and dare to swear that you only invest in bitcoin and that your portfolio does not contain any altcoins? Because as far as I know, people always say bitcoin is the best and they only need bitcoin but in their portfolio there are also some altcoins although not the majority. Nowadays, there is no one who does not want to make big profits and altcoins fulfill that need, while bitcoin does not. Altcoins can't grow and get bigger if we don't have a need for them, so I'm really skeptical of people who say there's no need for altcoins.

[Nrcewker]

Do you think Bitcoins has competitions? It’s either Bitcoins or altcoins. There is nothing that is competing with Bitcoins or can take its place. Moreover the price of Bitcoins depends on the supply and demand. As we know that the supply is fixed, so everything that sets the price is the demand. If the demand to accumulate the coin is more, then in order to fulfil this demand the price goes up. So put this activity in the situation mentioned by you in the OP. You will get your answer yourself.

[Negotiation]

Undoubtedly the top selection for long-term crypto investment the main reason behind bitcoin's popularity is that investors believe that the cryptocurrency's value will increase over time due to limited supply. Although there are thousands of different cryptocurrencies available in the market bitcoin makes a profitable coin for long term crypto investment bitcoin is the best currency to invest in crypto market but altcoins are better. These coins usually rise above the competition the crypto industry is huge and has many coins so holding altcoins alongside bitcoin is the right decision. Then investors will gain knowledge from other currencies besides bitcoin.

[Blitzboy]

It's not gonna work for the crypto industry. The reason why it's so big and profitable right now is because it was generous enough to allow everyone to create their own crypto and get the chance to break the market and earn their place in the industry, if we were to bar them from doing so and just allow bitcoin, innovation will die and no one will be able to compete. I guess bitcoin wouldn't die cause we can put them up for ETF on the stock market and after some time it would be accepted into NASDAQ, but the point I'm trying to make is that the industry's good enough as it is. I want it to stay like this and improve upon this current formula. If we were to bar people from creating their own cryptos what's the point of making crypto "decentralized"?

Without the chance for any and every player to create and promote their own cryptocurrency, whats the real point of calling it decentralized? Decentralized, decentralized - its the backbone of crypto, and limiting that would indeed defeat its purpose. By bottlenecking innovation, we're not only stalling potential advancements but also contradicting the very philosophy that crypto was founded upon.

However, when you mention bitcoin's potential for ETF integration into mainstream markets like NASDAQ, its a double-edged sword. On one hand, it further legitimizes cryptocurrency, but on the other, it could lead to further centralization and regulation. Would that not then be a pseudo-solution to a larger problem? An industry, built on being an alternative to traditional systems, slowly merging with them? Thats neither growth nor improvement.

[so98nn]

I think it should have affected it because no matter what there is always distribution of investment in between bitcoin and Altcoins. Peeps are finding cheaper ways to get into crypto economy where they want to taste the richness that old investors of Bitcoin got in first place when bitcoin was worth cents and dimes. Altcoins are featuring just the same thing however competition has gone up so much that no one can be sure what coin is best and will repeat the story of Bitcoin. So basically what I am saying is peeps are seeking quick rich schemes here which they may or may not find themselves real soon. It’s possible but technically speaking Bitcoin is Bitcoin with no second story to tell. One can even start with the Bitcoin today and get same returns but with larger Timeline.

[SOKO-DEKE]

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

Like many others, I think that Bitcoin will grow more quickly in the absence of competition from other cryptocurrencies because it will become the sole focus of attention. This could lead to an increase in demand because investors in other coins may only just investing in bitcoin. In fact, because of the numerous scams involving altcoins particularly pump and dump schemes some consumers are becoming discouraged from investing in cryptocurrency industry.so assume it is only Bitcoin different method of scamming people it will not be increasing all the time because not pump and dump scam method will be involved and that is where almost coins are getting attentions of people.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

Yes, competition has a role in the rise of Bitcoin as well. It enables users to search more broadly and determines the relative values of different coins, which encourages users to invest in the Bitcoin. However, I believe that the drawbacks of alternative coins to Bitcoin outweigh its benefits, as many cryptocurrency scams would not exist if it weren't for this altcoin. All of this is a result of people falling victim to one or more cryptocurrency scams. It is well known that some altcoin investors who lost money are trying to dissuade others from investing in the space. It deters others from making Bitcoin investments as well.

[Wakate]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

I don't see any possibility if this happening because there would want to be people that want to own their own cryptocurrency just like we have been seeing in the market with random projects launching all most every week. The cryptocurrency market is open for Anyone that want to create there own altcoins and launch it at anytime they want. This is one of the reasons why the Crypto market capitalization keep increasing since there are enough coins in the market that people can invest there money in if they like to. The crypto market would be boring if there is only one coin in the market and people will not have the option to out there money in other coin projects that would increase there profits.

[Taskford]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Honestly. I would not be interested to acquire bitcoin without having its competition since I will not see its potential to trade with other alts and earn with any positions we want to take from it. Price might not go more lower but it might get any huge demand since for sure that people will grab their own fiat then go after with other valuable things that they can benefit. If some questions regarding on its existence come up bitcoin will exist but I don't really think that it will get huge attentions and demand the same as today. For now some people look at bitcoin as investment that's why many try to check for it then other alts since they think that this is how they can earn fast money compare to other investments they are taking on.

Altcoin competition is healthy for bitcoin so anyone should never look any negative about it.

[Wend]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Honestly. I would not be interested to acquire bitcoin without having its competition since I will not see its potential to trade with other alts and earn with any positions we want to take from it. Price might not go more lower but it might get any huge demand since for sure that people will grab their own fiat then go after with other valuable things that they can benefit. If some questions regarding on its existence come up bitcoin will exist but I don't really think that it will get huge attentions and demand the same as today. For now some people look at bitcoin as investment that's why many try to check for it then other alts since they think that this is how they can earn fast money compare to other investments they are taking on.

Altcoin competition is healthy for bitcoin so anyone should never look any negative about it.

Why do people like to ask questions that will never happen? Furthermore, if bitcoin is truly the best coin in the crypto industry, why do we fear competition from other coins? Only the weak are afraid of competition, and the truly strong have nothing to fear from any competition. When investing, I also compare coins with each other, which one will bring me good and safe profits. Without altcoins, how can I know which bitcoin is best? It would be boring and tasteless if this market did not have altcoins and lost competition.

[_BlackStar]

-snip-

For me, Bitcoin wouldn't have done better had it been the decentralized network or system on which they operate was monopolized.
It would have done bad. It wouldn't have gained as much publicity as it does now and wouldn't have be distinguished from the ideas and visions of the other cryptocurrencies currently existing.

I don't understand - could you also explain how someone or a certain group monopolized it?
I just know that no one or any institution can control bitcoin because of its decentralization - so how can you convince me that bitcoin can be monopolized?

I also think most importantly that the government would have been able to shut down the idea of Bitcoin, that is, it will be well sealed for generations, until they be able to discover it or the genius behind its idea and begin to implement it. That would be when fiat fails due to inflation or other factors.

Governments know how good bitcoin is for supporting the financial system - but they tend to be in denial for fear of the impact. They are afraid of bitcoin's competition with centralized payment systems. Bitcoin won because of high public interest - but not all governments will think the same thing, especially wherever bitcoin has been legalized as a means of payment.

[Dr.Bitcoin_Strange]

What would happen if there was only one cryptocurrency, which is Bitcoin?

In my imagination, I feel that first, three things will happen: people (investors) will not lose money like they usually do on their altcoin investments; second, investors will not see any coins that can make them have a bad perception, like most altcoins have really made most people have a bad perception about cryptocurrenct. Thirdly, Bitcoin would have had more investors than we already have, and if there were more investors, then the value would be very high. Bitcoin is the hope in the crypto space, and if Bitcoin had really not made it to the top, then there might not have even been a lot of these alt coins to come up.

[n00ber]

What would happen if there was only one cryptocurrency, which is Bitcoin?

In my imagination, I feel that first, three things will happen: people (investors) will not lose money like they usually do on their altcoin investments; second, investors will not see any coins that can make them have a bad perception, like most altcoins have really made most people have a bad perception about cryptocurrenct. Thirdly, Bitcoin would have had more investors than we already have, and if there were more investors, then the value would be very high. Bitcoin is the hope in the crypto space, and if Bitcoin had really not made it to the top, then there might not have even been a lot of these alt coins to come up.

And the market will become tasteless, and there is no guarantee that the bitcoin market will have a higher price. Bitcoin is considered the best coin on the market and for us to know it is the best coin we need something to compare it to. Just like if there is no white, how do we know there is black?

Furthermore, many people entered this market through the altcoins hype and I am one of them. I was attracted by the thousand percent growth of shitcoin and I entered the market, but as I learned more about the market, I realized that bitcoin is worth investing in than shitcoin.

Regarding scam, without altcoins and shitcoins, we would still have scam projects impersonating bitcoin or using bitcoin as a medium. For example, HYIP and Ponzi projects between 2013 and 2015 both used bitcoin as a means of participation. Don't blame the projects for defrauding you, but ask why you didn't restrain your greed.

[Blitzboy]

What would happen if there was only one cryptocurrency, which is Bitcoin?

In my imagination, I feel that first, three things will happen: people (investors) will not lose money like they usually do on their altcoin investments; second, investors will not see any coins that can make them have a bad perception, like most altcoins have really made most people have a bad perception about cryptocurrenct. Thirdly, Bitcoin would have had more investors than we already have, and if there were more investors, then the value would be very high. Bitcoin is the hope in the crypto space, and if Bitcoin had really not made it to the top, then there might not have even been a lot of these alt coins to come up.

And the market will become tasteless, and there is no guarantee that the bitcoin market will have a higher price. Bitcoin is considered the best coin on the market and for us to know it is the best coin we need something to compare it to. Just like if there is no white, how do we know there is black?

Furthermore, many people entered this market through the altcoins hype and I am one of them. I was attracted by the thousand percent growth of shitcoin and I entered the market, but as I learned more about the market, I realized that bitcoin is worth investing in than shitcoin.

Regarding scam, without altcoins and shitcoins, we would still have scam projects impersonating bitcoin or using bitcoin as a medium. For example, HYIP and Ponzi projects between 2013 and 2015 both used bitcoin as a means of participation. Don't blame the projects for defrauding you, but ask why you didn't restrain your greed.

You're exactly right to stress how relative and different things are in the market. When compared to other cryptocurrencies, Bitcoin does indeed stand out. There needs to be a careful analysis because the market is very unstable and hard to predict. But let's not let this conversation turn into an exaggeration. Many people, including you, are pulled into the cryptoverse by altcoins and their hype. As unpredictable as these currencies may be, they act as entrances.

Scams, greed, and the many lessons we've learned from the past have shown that any coin, even Bitcoin, can be used in the wrong way. The issue isn't the coin; its the greed and unchecked desire that led to scams like HYIPs and Ponzi schemes from 2013 to 2015. Before blaming others, it's important to look inside yourself and question your goals. Smart decisions come from having a critical mind.

[KiaKia]

First of all, there is nothing like Bitcoin, it stands alone and it's priceless but it's impossible not to have any other crypto projects because what developers can do with block chain is massive, it's like telling them not to build and explore what blockchain can do for the world, this is why I said that it's impossible.

The door to more crypto projects already opened the moment block chain is a thing, what other projects are doing wrong is centralization, I don't like this idea and that's one of the reasons I will always choose Bitcoin.

Scams that are taking place in crypto space are 99% from other altcoins, if Bitcoin is the only thing then scam will be limited but the chances of making life changing money will also be very limited because I can't deny that other altcoins have massive ROI potential than Bitcoin and they are also the most risky. 

[BALIK]

-snip

Scams, greed, and the many lessons we've learned from the past have shown that any coin, even Bitcoin, can be used in the wrong way. The issue isn't the coin; its the greed and unchecked desire that led to scams like HYIPs and Ponzi schemes from 2013 to 2015. Before blaming others, it's important to look inside yourself and question your goals. Smart decisions come from having a critical mind.

This is my opinion and what I always want to explain to everyone. We should stop blaming anyone or any project if we fall into a scam, we should look at ourselves before wanting to blame someone. I wonder, if we don't have greed and don't want to get rich quickly, how can those shitcoin projects exist? If there is demand, there will be supply, if we don't have the need to get rich quickly, I believe that scam projects will gradually disappear naturally.

[God bless u]

I think that price of bitcoin will increase because there is a limited number of bitcoin so whenever there is only a single coin like Bitcoin then everyone will rushes towards its investment to take the reward. If there present other altcoin presently then still bitcoin is consider as more successful asset so when there remains no altcoin then surely there will be no negative effect on its value but instead it will boost more.

Bitcoin price increase and decrease is related with the phenomenon of supply and demand so its obvious that when no other coins exist then as people move towards bitcoin now so same movement will also persists but at that time the number of holders will be more which will directly impact its price to enhance even more. I think bitcoin cannot be effected by disappearing of altcoins but if bitcoin disappears then all altcoins will be disappeared too.

[Vaculin]

What I know is that it is not possible for bitcoin not to have alternatives, but it is very disappointing that most of the coins are centralized. But if bitcoin does not have alternatives which are the other cryptocurrencies that we are talking about, it would be better. Instead of people buying those altcoins, thinking they can not make enough profit in bitcoin, they would have rather invested their money in bitcoin if there are no shitcoins. But in this life, there would be alternatives, but bitcoin will remain the giant.

It won't be called a crypto market either when there's no competition in the first place. Competition makes the market more efficient and productive, and with the existence of alternative coins, it creates more challenge on part of bitcoin and vice versa, on how to keep an edge over the others. But we all know bitcoin has always the great advantages over altcoins, that no matter how stiff the competition is, bitcoin will always come out as the best crypto coin in the market.

That is why even with a lot of crypto coins that are born in the market, bitcoin will not be triggered. Not because its the one big giant in crypto, but because bitcoin is the lifeblood in the crypto market. And all other coins are just form out from the single image of bitcoin. That reason alone proves that bitcoin will always gain the highest advantage over other altcoins or shitcoins.

[gunhell16]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Without altcoins, the value of Bitcoin would most likely not be as high as it is now. Of all, the moniker "Bitcoin" is likewise not all that well-known. Because altcoins, in my opinion, have contributed to the acceleration of Bitcoin's fame growth.

This is the reality, and while some of you may agree with me, others may not. Furthermore, if Bitcoin hasn't gained traction, it won't be introduced to the stock market, and without altcoins supporting Bitcoin, it's unlikely that any nation will embrace blockchain technology.

[EluguHcman]

Apparently, Bitcoin and AltCoins are like the Lion King and the sheeps which they can never be in set in a competition instead it is act of envy and imitation of AltCoins striving to meet up with Bitcoin that makes it seems a competition.

However, the price of Bitcoin does no way affect its investors as long as it does not capitalized minimum or maximum capital of investment rather, the flexibility as deflation in the market after a higher value being bought of the the Bitcoin.
Hence crypto industry would be a better place with just Bitcoin because it portray potentials that even AltCoins are yet to obtain.
 

[nakamura12]

Apparently, Bitcoin and AltCoins are like the Lion King and the sheeps which they can never be in set in a competition instead it is act of envy and imitation of AltCoins striving to meet up with Bitcoin that makes it seems a competition.

However, the price of Bitcoin does no way affect its investors as long as it does not capitalized minimum or maximum capital of investment rather, the flexibility as deflation in the market after a higher value being bought of the the Bitcoin.
Hence crypto industry would be a better place with just Bitcoin because it portray potentials that even AltCoins are yet to obtain.
 

I agree with you but I don't read anything about what will be the situation or what will happen if there's only one Cryptocurrency which is Bitcoin only and no altcoins. The price of Bitcoin doesn't change because of altcoin. The price of BTC depends on the market like it's supply and demand. What happened to Bitcoin right now would still happen like using BTC as one of the payment method accepted in a casino and other platforms .

[Hyphen(-)]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Does Bitcoin have any competitors?

I think Bitcoin is independent and stands alone with no competitor; in fact, altcoins are trying to copy Bitcoin ways and properties, but they are always failing due to human error and emotions.

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Bitcoin will have more value if altcoins are not created to spoil and scam people in the name of being a cryptocurrency and an alternative to Bitcoin.

Altcoins and Bitcoin are two different things that have different features; although there are similarities, we cannot compare them or even think of calling them competitors.
All altcoins are centralized, while Bitcoin is decentralized, transparent, and has no team to depend on when making decisions about the project.

[Z-tight]

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

If BTC was the only cryptocurrency, there would be no altcoins scamming people that's for sure, BTC and altcoins are intrinsic to each other, but they are not in a competition, altcoins do not have any value or usefulness, so they are only for gambling or an attempt to try and earn money.

BTC is a currency that is useful and has good use cases, if there were no altcoins, maybe many of the people interested in altcoins would use BTC instead, but we do not know for sure and i cannot predict if that is what would have happened, but i know the crypto world would have been a better place without altcoins.

[BitDane]

Do you think Bitcoins has competitions? It’s either Bitcoins or altcoins. There is nothing that is competing with Bitcoins or can take its place. Moreover the price of Bitcoins depends on the supply and demand. As we know that the supply is fixed, so everything that sets the price is the demand. If the demand to accumulate the coin is more, then in order to fulfil this demand the price goes up. So put this activity in the situation mentioned by you in the OP. You will get your answer yourself.

Anything that offers the same kind of service is a competitor. Although Bitcoin dominates the industry, there is no doubt that other cryptocurrencies are taking some share of the market.  

For example, a person that is into cryptocurrency have 50% of its portfolio to Bitcoin and the other 50% into the altcoin, just think if altcoin is non-existent,  the portfolio should have been 100% for Bitcoin and this 50% will contribute to the increase of price of Bitcoin in the market.

I agree that the price of Bitcoin is dependent to supply and demand, reason why if there is no other cryptocurrency around, Bitcoin would have way more value than when there is other cryptocurrency in the market.

[Blitzboy]

Do you think Bitcoins has competitions? It’s either Bitcoins or altcoins. There is nothing that is competing with Bitcoins or can take its place. Moreover the price of Bitcoins depends on the supply and demand. As we know that the supply is fixed, so everything that sets the price is the demand. If the demand to accumulate the coin is more, then in order to fulfil this demand the price goes up. So put this activity in the situation mentioned by you in the OP. You will get your answer yourself.

Anything that offers the same kind of service is a competitor. Although Bitcoin dominates the industry, there is no doubt that other cryptocurrencies are taking some share of the market.  

For example, a person that is into cryptocurrency have 50% of its portfolio to Bitcoin and the other 50% into the altcoin, just think if altcoin is non-existent,  the portfolio should have been 100% for Bitcoin and this 50% will contribute to the increase of price of Bitcoin in the market.

I agree that the price of Bitcoin is dependent to supply and demand, reason why if there is no other cryptocurrency around, Bitcoin would have way more value than when there is other cryptocurrency in the market.

Diversification is essential to modern personal finance and investment. Consider this: if Bitcoin is the flagship cryptocurrency, altcoins represent digital asset diversification. Your hypothetical scenario imagines all cryptocurrency capital flowing into Bitcoin. Would this be best for investors? Another issue is whether a lack of rivalry in any field would impede innovation. Bitcoin may have had 100% market share, but would it have evolved as fast without altcoins? While supply and demand dictate Bitcoin's value, altcoins give customers choices, which can make the crypto market more resilient and dynamic.

[coinremitter]

It's an interesting question and one that's been debated in the cryptocurrency community. The impact of having only one cryptocurrency, such as Bitcoin, would indeed have both positive and negative consequences.

On one hand, some argue that the price of Bitcoin would likely rise significantly without competition. This is because Bitcoin would remain the sole digital asset for individuals and institutions to invest in, potentially increasing its scarcity and value. A limited supply, coupled with high demand, could lead to a significant price increase.

On the other hand, your perspective has validity as well. In the absence of competition, the market dynamics would change. When there are alternative cryptocurrencies, investors have to decide not just whether to buy Bitcoin but also which other digital assets to invest in. This competition forces Bitcoin to stay competitive and innovative. Without that pressure, complacency could set in.

Additionally, the presence of various cryptocurrencies allows for diversification. Investors can spread their risk across different assets to manage potential losses better. With only Bitcoin available, this diversification option would be limited.

Furthermore, competition has driven technological advancements and improvements in blockchain and cryptocurrency projects. Without that competition, innovation might slow down as there's no external force pushing for development.

[Minecache]

Do you think Bitcoins has competitions? It’s either Bitcoins or altcoins. There is nothing that is competing with Bitcoins or can take its place. Moreover the price of Bitcoins depends on the supply and demand. As we know that the supply is fixed, so everything that sets the price is the demand. If the demand to accumulate the coin is more, then in order to fulfil this demand the price goes up. So put this activity in the situation mentioned by you in the OP. You will get your answer yourself.

Anything that offers the same kind of service is a competitor. Although Bitcoin dominates the industry, there is no doubt that other cryptocurrencies are taking some share of the market.  

For example, a person that is into cryptocurrency have 50% of its portfolio to Bitcoin and the other 50% into the altcoin, just think if altcoin is non-existent,  the portfolio should have been 100% for Bitcoin and this 50% will contribute to the increase of price of Bitcoin in the market.

I agree that the price of Bitcoin is dependent to supply and demand, reason why if there is no other cryptocurrency around, Bitcoin would have way more value than when there is other cryptocurrency in the market.

Diversification is essential to modern personal finance and investment. Consider this: if Bitcoin is the flagship cryptocurrency, altcoins represent digital asset diversification. Your hypothetical scenario imagines all cryptocurrency capital flowing into Bitcoin. Would this be best for investors? Another issue is whether a lack of rivalry in any field would impede innovation. Bitcoin may have had 100% market share, but would it have evolved as fast without altcoins? While supply and demand dictate Bitcoin's value, altcoins give customers choices, which can make the crypto market more resilient and dynamic.

But should investing in altcoins be called diversification? Diversification means both looking to increase profits and looking to minimize risk, but if you invested in bitcoin and then altcoins. I don't think you are diversifying to reduce the risk of your portfolio. Because the entire market depends on bitcoin and if bitcoin disappears then the entire market will disappear too. Allocation to altcoins is not considered investment diversification, if you want to diversify, invest in non-crypto assets.

Competition is what will bring to the market many new products with better quality and help users have more choices. But with bitcoin and altcoins, altcoins do not bring much innovation but instead are scam projects and make the reputation of the cryptocurrency industry worse.

[fokinlipat]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

It is both good and bad for crypto. Good is that if there was no alt coin , all the market cap would have been for bitcoin and value per bitcoin would also been very high. Bad would be there will be monopoly which will hinder developments and growth.

[kingvirtus09]

I don’t feel that bitcoin has any competitor to be honest and if they were no Altcoins the adoption of bitcoin doesn’t look like something that would be affected because even now the number of people that go into cryptocurrency are through bitcoin, so even without the other coins they will still come.

The price of bitcoin might increase only due to demand because without the Altcoins which promises huge returns and some people will to have invest almost all of that into bitcoin, which means a high demand of bitcoin than now.

Without altcoins many wouldn’t be in Disney world that they could be become rich over night from it and without them the scams done by fake or shit coins wouldn’t be there and the cryptocurrency space will actually gain the purity that bitcoin brings

If we are only talking about Bitcoin, it was not created to compete with anything; altcoins only appeared because Bitcoin is decentralized and no one can control it. So in order for them to gain control, they created altcoins, because through this, they will have the opportunity to take advantage of people they don't know so they can get money from other investors.

But let's accept it or not, Bitcoin quickly became popular because of altcoins. That's true; without altcoins appearing, I just think Bitcoin probably wouldn't reach the ATH of 69k$ each. It means that somehow altcoins have contributed a lot to the crypto space.

[fuguebtc]

I don’t feel that bitcoin has any competitor to be honest and if they were no Altcoins the adoption of bitcoin doesn’t look like something that would be affected because even now the number of people that go into cryptocurrency are through bitcoin, so even without the other coins they will still come.

The price of bitcoin might increase only due to demand because without the Altcoins which promises huge returns and some people will to have invest almost all of that into bitcoin, which means a high demand of bitcoin than now.

Without altcoins many wouldn’t be in Disney world that they could be become rich over night from it and without them the scams done by fake or shit coins wouldn’t be there and the cryptocurrency space will actually gain the purity that bitcoin brings

If we are only talking about Bitcoin, it was not created to compete with anything; altcoins only appeared because Bitcoin is decentralized and no one can control it. So in order for them to gain control, they created altcoins, because through this, they will have the opportunity to take advantage of people they don't know so they can get money from other investors.

But let's accept it or not, Bitcoin quickly became popular because of altcoins. That's true; without altcoins appearing, I just think Bitcoin probably wouldn't reach the ATH of 69k$ each. It means that somehow altcoins have contributed a lot to the crypto space.

Looking at the market capitalization, many years ago when there were not too many altcoins appearing, bitcoin dominated 70-80% of the market. But in recent years, bitcoin's dominance is only 40-50% of the market , meaning there is competition in the market between bitcoin and altcoins.

And I agree with you that, if this market did not have the presence of altcoins , bitcoin would not be as well known or have such impressive growth as it is today. If there are no altcoins, what can we compare with bitcoin and realize that bitcoin is the best to invest in? The role of altcoins should not be denied.

[yazher]

What I know is that it is not possible for bitcoin not to have alternatives, but it is very disappointing that most of the coins are centralized. But if bitcoin does not have alternatives which are the other cryptocurrencies that we are talking about, it would be better. Instead of people buying those altcoins, thinking they can not make enough profit in bitcoin, they would have rather invested their money in bitcoin if there are no shitcoins. But in this life, there would be alternatives, but bitcoin will remain the giant.

That's the best scenario we could ever have in the crypto industry but what can we do? After the rise and fall of ICOs, lots of things have happened and people continue to make their own empire in terms of owning their own crypto platforms which makes it even hard to imagine that bitcoins will be the only one left in the world that people use it. If only investors did not rely so much on altcoins, they could have made a huge difference and helped bitcoins build a concrete stronghold in its price and decrease the chance of volatility.

[Crypt0Gore]

Crypto space will not exists, because having other coins with Bitcoin is what makes this space a possibility,  if it's all Bitcoin then we will get to talk only about Bitcoin, invest only in Bitcoin and it will be less fun, there will be no LTC, no Dogecoin and others, it will be more boring.

The existence of other crypto project is even why we have loads of people in crypto space today, do not forget that every Bitcoin holders have other coins too, they make money off other coins and buy Bitcoin with their profits, I might be wrong but people care more about making bigger return of investment, the only thing that's possible with other altcoins.

As for the value

Bitcoin will likely worth even more because some coins that are not even up to top 10 on coinmarketcap are still having millions of marketcap and liquidity, if all that are moved into Bitcoin it will pump the value even higher.

But the truth is the crypto space is now full of people because of altcoins, they are here for the moon shots, if people can be crazy enough to invest their money into the likes of Dogecoin and Shiba inu which is meme then this backed up my thoughts, it's always about how much more they can make out of something new and cheap rather than the old.

[taufik123]

Looking at the market capitalization, many years ago when there were not too many altcoins appearing, bitcoin dominated 70-80% of the market. But in recent years, bitcoin's dominance is only 40-50% of the market , meaning there is competition in the market between bitcoin and altcoins.
-snip-

Now that Bitcoin's dominance is being shared with Altcoins and many emerging shitcoins, it signifies that the crypto market continues to grow and more innovations continue to emerge.
Although Bitcoin's dominance is down, this is also the effect of some FUD and many investors exiting Bitcoin.

Bitcoin could even reach dominance above 80% in 2016-2017 and also reached a very extreme decline in dominance at 32% in 2018 which was a bear market that made the price of Bitcoin drop to $3k.

and now dominance is still quite good at 49.6% and this will continue to rise along with the Halving moment which makes many investors start to enter the market.


https://coinstats.app/btc-dominance/

[Inwestour]

That's the best scenario we could ever have in the crypto industry but what can we do? After the rise and fall of ICOs, lots of things have happened and people continue to make their own empire in terms of owning their own crypto platforms which makes it even hard to imagine that bitcoins will be the only one left in the world that people use it. If only investors did not rely so much on altcoins, they could have made a huge difference and helped bitcoins build a concrete stronghold in its price and decrease the chance of volatility.

I doubt that this would be possible, except perhaps in some ideal world, but here everything is different and everyone who has such an opportunity is trying to create some kind of token, primarily in order to make money on it. The vast majority of altcoins are useless because they are used in few places. Perhaps when we come to the point that only Bitcoin will remain, but for this to happen, something truly large-scale must happen, perhaps some kind of crisis that will not allow the majority of tokens to survive.

[EL MOHA]

But let's accept it or not, Bitcoin quickly became popular because of altcoins. That's true; without altcoins appearing, I just think Bitcoin probably wouldn't reach the ATH of 69k$ each. It means that somehow altcoins have contributed a lot to the crypto space.

No bitcoin didn’t became popular because of them, when you mention cryptocurrencies the first thing even someone who is not into crypto will you say is bitcoin. Without altcoins bitcoin might have surpassed that amount because many people wouldn’t just go and invest in other coins and will have invested more in bitcoin and with high demand the price of bitcoin will go up and in turn the ATH might have gone past that price. Also without them many people wouldn’t be afraid to come into this space because cases of altcoins dumping after tricking people into investing wouldn’t suffice

[Yatsan]

That's the best scenario we could ever have in the crypto industry but what can we do? After the rise and fall of ICOs, lots of things have happened and people continue to make their own empire in terms of owning their own crypto platforms which makes it even hard to imagine that bitcoins will be the only one left in the world that people use it. If only investors did not rely so much on altcoins, they could have made a huge difference and helped bitcoins build a concrete stronghold in its price and decrease the chance of volatility.

I doubt that this would be possible, except perhaps in some ideal world, but here everything is different and everyone who has such an opportunity is trying to create some kind of token, primarily in order to make money on it. The vast majority of altcoins are useless because they are used in few places. Perhaps when we come to the point that only Bitcoin will remain, but for this to happen, something truly large-scale must happen, perhaps some kind of crisis that will not allow the majority of tokens to survive.

There’s no need to. Altcoins are there serving its purpose. As its name suggests, altcoins are alternative coins for a purpose of faster, cheaper, more convenient and more specific to certain projects, compared to Bitcoin. Every crypto has its own ‘thing’ for investors ‘coz if not then even if there are altcoins then people would still choose only Bitcoin as a mode of payment and as an investment. We may ask ourselves, why are we diversifying our portfolio if we only see potential in bitcoin alone? I think that would as well answer why altcoins are introduced to us. There’s no need for a single crypto to exist if others are being used also.

[Blitzboy]

That's the best scenario we could ever have in the crypto industry but what can we do? After the rise and fall of ICOs, lots of things have happened and people continue to make their own empire in terms of owning their own crypto platforms which makes it even hard to imagine that bitcoins will be the only one left in the world that people use it. If only investors did not rely so much on altcoins, they could have made a huge difference and helped bitcoins build a concrete stronghold in its price and decrease the chance of volatility.

I doubt that this would be possible, except perhaps in some ideal world, but here everything is different and everyone who has such an opportunity is trying to create some kind of token, primarily in order to make money on it. The vast majority of altcoins are useless because they are used in few places. Perhaps when we come to the point that only Bitcoin will remain, but for this to happen, something truly large-scale must happen, perhaps some kind of crisis that will not allow the majority of tokens to survive.

There’s no need to. Altcoins are there serving its purpose. As its name suggests, altcoins are alternative coins for a purpose of faster, cheaper, more convenient and more specific to certain projects, compared to Bitcoin. Every crypto has its own ‘thing’ for investors ‘coz if not then even if there are altcoins then people would still choose only Bitcoin as a mode of payment and as an investment. We may ask ourselves, why are we diversifying our portfolio if we only see potential in bitcoin alone? I think that would as well answer why altcoins are introduced to us. There’s no need for a single crypto to exist if others are being used also.

Altcoins are the true MVPs that are extending the possibilities of cryptocurrency; they are not merely "alternatives." In the current market, faster transactions, cheaper fees, and even privacy that Bitcoin cannot match are not just "options," but rather must. Why restrict ourselves, you ask? Indeed, it seems like everyone believes that Bitcoin is king, but even kings can fall. The cryptocurrency kingdom is huge, and if you look behind the crown, there's gold in those hills.

Lets now discuss portfolio strategy. Playing the field, observing what works, and gauging the direction of the wind are all crucial. Why commit to just one cryptocurrency when you wouldnt wear the same clothing every day? My friend, accept the fact that this is a dynamic world or risk being rolled over. Alternative coins are here to stay and arent just backing Bitcoin; they're part of the band, contributing their own unique sound.

[kizlod]

We don't know what would happen because we haven't seen BTC going big without existing altcoins. Altcoins already influenced the market and the whole internet a lot, and their existence was inevitable.

[gabbie2010]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Of course Bitcoin offer solutions to P2P, anonymous transaction, store of value etc though there are other problems in the society that other altcoins proffered solution to, however if Bitcoin is the only cryptocurrency, I believe it demand would be very high thus prompting a high price, almost all crypto enthusiast, traders, investors, wage earners of the coins etc would depend solely on the coin that would trigger a very high volume traded on daily basis because there is no other competitor or alternative, however the existence of altcoins is also a welcome development though their pump in price depends majorly on the volatility in the price of Bitcoin.

[rodskee]

Depending if what are we seeing Bitcoin , some take this as investment while others as
currency so those two are different topic to tackle .

    ..Investment meaning having competitors because people nowadays are looking for alternative as bitcoin has a high price.

    ..Currency meaning there is no competition because  this is solely to use as payment structure .

We don't know what would happen because we haven't seen BTC going big without existing altcoins. Altcoins already influenced the market and the whole internet a lot, and their existence was inevitable.

Exactly to be with , we have no Idea completely because we have not seen that happening .

[uchegod-21]

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

There are so many other factors aside competition that influence the price of bitcoin and one of them is the forces of demand and supply.

Currently, the availability of several altcoins is just like a joke compared to Bitcoin, the demand for Bitcoin is still very higher that all altcoins put together. Now, if there were no other coins, making Bitcoin the only cryptocurrency,  everyone will fall back to Bitcoin and of course we know this will result in an increase in demand, thereby  making the price of Bitcoin to be high due to its high demand and limited supply.

[CryptoBuds]

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

There are so many other factors aside competition that influence the price of bitcoin and one of them is the forces of demand and supply.

Currently, the availability of several altcoins is just like a joke compared to Bitcoin, the demand for Bitcoin is still very higher that all altcoins put together. Now, if there were no other coins, making Bitcoin the only cryptocurrency,  everyone will fall back to Bitcoin and of course we know this will result in an increase in demand, thereby  making the price of Bitcoin to be high due to its high demand and limited supply.

What you said is not wrong, if there is no competition from altcoins, bitcoin will receive more demand and the price will also increase. But on the other hand, it cannot be denied that there are many people who know this market through altcoins and centralized exchanges, and I am also one of them. Many people are attracted by the thousands-fold, million-percent price increase of altcoins, and they enter the market because of the altcoin hype.

Altcoins also play an important role in attracting newbies to this market, so without altcoins, it would be difficult for the cryptocurrency market to reach the level of popularity it has today. And if the market doesn't become popular, not many people will know about bitcoin. I think both bitcoin and altcoins are important in helping the cryptocurrency industry become more popular.

[kentrolla]

If there were no other crypto currency then surely value of Bitcoin would have increased even further because of accumulated investment. But we wouldn't have got faster transaction and lesser fees which are yet is not available in Bitcoin

Though there are thousands of altcoins but they cannot exist as long as Bitcoin has survived with constant survival over various oppositions from goverment and banks, expect some Altcoin which has usage in daily life rest are just fooling investors with no real life use and don't even reach markets (new coins).

Responding to your point that the value of Bitcoin will be lesser if there is no competition I appreciate your POV but I have a different view on this which is tested in the past, let's rewind to pre 2015 days and see how many altcoins existed there were very few but still Bitcoins value prospered and this proves that compitition is not having any benefit on Bitcoin.

[beerlover]

If there were no other crypto currency then surely value of Bitcoin would have increased even further because of accumulated investment. But we wouldn't have got faster transaction and lesser fees which are yet is not available in Bitcoin

Though there are thousands of altcoins but they cannot exist as long as Bitcoin has survived with constant survival over various oppositions from goverment and banks, expect some Altcoin which has usage in daily life rest are just fooling investors with no real life use and don't even reach markets (new coins).

Responding to your point that the value of Bitcoin will be lesser if there is no competition I appreciate your POV but I have a different view on this which is tested in the past, let's rewind to pre 2015 days and see how many altcoins existed there were very few but still Bitcoins value prospered and this proves that compitition is not having any benefit on Bitcoin.

It would definitely make sense, all that money that went into alts would have gone into bitcoin, even if not all. That is why I keep saying that all these shitcoins are making the crypto world a lot worse, if we didn't had those shitcoins then we would have been a lot better and yet in the end we ended up with all these shitcoins and people spending money on them which resulted with hurting bitcoins top level.

If those didn't existed, people wouldn't lose money on those and the price of bitcoin would have been higher, and unfortunately we are not there at the moment. It's part of the crypto world and we need to accept it and move on, not like there is anything that we could do about it, so we need to just accept it and move on. I get that it is not that simple and we could make sure that things are a little different, so we need to make sure that it goes as well as we hope it would, and could be done differently. Hopefully, we can see it grow bigger this time around.

[SAHASAN]

I don't think that any alt coin can able to stay as strong as Bitcoin in the future.
Altcoin is a marketing coin or trading coin only.
It is somewhat true that some people came to know about Bitcoin through Alt-coin or altcoin Marketing. I myself came to know about Bitcoin through Another altcoin in 2014 but no coin can compete with Bitcoin. If there is no Alt-coin then the price of Bitcoin is very high. Because altcoin holders will buy more bitcoins.
 

[Viscore]

 If bitcoin is the only crypto existing, then most likely it will have the same fate with fiat. Why? The longer it exists, the lesser value it becomes. The more number of people will get bored using it because there has been no competition that will spur for bitcoin to be more developed and more productive. So whatever it is when its started, then most likely its still the same when it ended.

However, with the presence of altcoins, the market becomes more alive with its healthy competition. And when people see that bitcoin improves, for sure the developers of altcoins will find ways on how to get an edge over bitcoin. So as long as competition exists, both bitcoin and altcoins will dare to be more innovative and responsive to whatever the demands of its consumers.

[Best-mary]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Nah.. Bitcoin has no competition. In fact, I see bitcoin has currency like saying USD and EUR have competition..other coins are for profit-making whereby we take advantage of it to make money just look at Pyth and how people are talking about it "The hype" and"The season"

[Aanuoluwatofunmi]

If all we have is only bitcoin then maybe people will not be having that kind of fear of investing into cryptocurrency knowing that all they have is bitcoin and it's reliable, i wonder how it would have actually been if there were no alts, i think one of the big promoters to those altcoins are exchanges, they almost always include every available shitcoins on hype in other for them to make money from them

[tjtonmoy]

Yeah, I agree with you. If there were no competition then Bitcoin won't be what it is today. When you are presented with only one choice you may take it or you may not. But when you are presented with multiple choices, you ask yourself which one should be better if I have to choose one. And then you start to do your research and you choose the best one. This applies to not only just Bitcoin but to everything. This is a well known tactic in order to grow customers.

If something does not have any kind of competition, then its growth will be slower but here is the thing of not having any kind of competition. Once people get to know how good it is and what it can do, left with only one choice people will choose it by default. And the growth will increase like a spike rather than the up and down growth with competition. It will suddenly grow and keep on growing when there's no competition.

Both way, if the thing you are talking about is good enough for consumers, they will pick it despite having any competition or not.

[dunfida]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

If Bitcoin would really be just that only on existence then all of the current cap that we do have now will really be poured solely to Bitcoin but well its no an assured thing because if there's one only existing then i doubt
that interest or adoption would really be that high and since there's no competition then i dont think for the entire cap to really increase it out that much. Also, it is really just that impossible to think to a market
on running solely, there would really be those individuals or companies that they would really be making their own coins for having at least on getting a piece of the pie or simply with marketshare.

We know that there's no such thing about being perfect. Lets say that we are only having Bitcoin but do you really think that people wont really be noticing about its flaws or disadvantages?
Pretty sure that there would really be those brilliant minds would really be making adjustments and making even more better. Progress and advancement is something
that is really that inevitable to happen.

[Zigabel]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Having other cryptocurrency wouldn't cause Bitcoin to be any cheaper it will even make bit more expensive because the demand will be even higher than the supply so it's even better there are other altcoins where investors with smaller amounts can always invest in and still be profitable but they aren't as solid as Bitcoin because it's block chain is what most of other cryptocurrency rely on for their transactions as it's like the mother of them all.

Personally I don't think with Bitcoin there's any competition with others coins, Bitcoin is independent on its own and other coins are literally following suit so there's almost no competition and if there is I think it's only amongst the altcoins and never with Bitcoin, although some of the altcoins try so hard to be like Bitcoin , having block chain of their own and community, just like ETH with the ERC block chain, tron with TRC but then they all still remain as altcoins and are not like Bitcoin although they do have solid projects and community behind them but Bitcoin still stands out. Buyers decision most times on cryptocurrency depends on how much knowledge they have and that's why regardless of the many altcoins and their appreciative index some investors still stick to Bitcoin because it still stands tall it only those with little or amateur knowledge about cryptocurrency would continually be indecisive about purchasing Bitcoin and that's why you can see an investor having having other altcoins and still insist on add Bitcoin but strict Bitcoin investors hardly look into altcoins.

[lionheart78]

But let's accept it or not, Bitcoin quickly became popular because of altcoins. That's true; without altcoins appearing, I just think Bitcoin probably wouldn't reach the ATH of 69k$ each. It means that somehow altcoins have contributed a lot to the crypto space.

No bitcoin didn’t became popular because of them, when you mention cryptocurrencies the first thing even someone who is not into crypto will you say is bitcoin. Without altcoins bitcoin might have surpassed that amount because many people wouldn’t just go and invest in other coins and will have invested more in bitcoin and with high demand the price of bitcoin will go up and in turn the ATH might have gone past that price. Also without them many people wouldn’t be afraid to come into this space because cases of altcoins dumping after tricking people into investing wouldn’t suffice

Altcoins indeed help in spreading news about cryptocurrency.  Altcoin may not have the intention to spread information about Bitcoin, but Bitcoin being the most popular and dominant cryptocurrency gets the benefit of being introduced through means of comparison.

I always think that the Bitcoin price would have been way bigger than the current price if there was only Bitcoin.  Anything in the coin market cap will be placed  under the Bitcoin history and probably.

[GbitG]

Without altcoins many wouldn’t be in Disney world that they could be become rich over night from it and without them the scams done by fake or shit coins wouldn’t be there and the cryptocurrency space will actually gain the purity that bitcoin brings

So yeah, probably this is true if other coins (Altcoins) didn't exist, so there is no doubt that people didn't seem to be the eye of Disney towards the cryptocurrency market. Because there are no fears in the market that some altcoins and shitcoins have created. Obviously, dude, if you look at the thing covered with the most risk in the market, it is not so much volatility as it is from scams and rug pulls, while volatility can also give you a return on increasing your price. But even who will not be able to return the scam and the rug pull-up? Those people are hungry to steal money, so how will they be able to give you a return? Although Bitcoin is a volatile thing, despite that, it can give you a return for increasing its price, and there is no concept of lack of security or scam in Bitcoin, and it can't threaten you when you keep it safe, like a wallet (hardware wallet).

So, in my opinion, these were some of the reasons for which I understand and agree with you that if there were no Altcoins and shitcoins in the crypto market, then people would invest in crypto without hesitation and would not be afraid the same way. Which is now shitcoin scare by scam, and even altcoin is included, like Tara Luna. I hope I have explained the topic correctly.

[Out of mind]

I think if cryptocurrencies had only bitcoin and not other coins, then BTC price would have developed massively. Because we know there are currently more than 4k coins in cryptocurrency. If there were not so many coins in this world but only Bitcoin, then the price of Bitcoin would have increased rapidly, and its price would have skyrocketed. We know how much the price of bitcoin has increased currently and how high it is likely to go in the future, and how much ATH has been in the past. To answer your question accordingly, of course I think Bitcoin would have value outside of saying that. Without any competition the price of Bitcoin would have gone up like a bull run, and I think if it weren't for all the other cryptocurrencies all the investors would have flocked to Bitcoin and there would have been a lot of demand for Bitcoin. Whenever the demand for Bitcoin increases, the price of Bitcoin will continue to increase and the number of Bitcoin users will continue to increase. If there were only bitcoins we probably wouldn't have bitcoins today, even if we did get a small fraction, we would have to buy a lot of money.

[mamesso]

When the general public talks about Cryptocurrency, what comes to their mind is Bitcoin. Alternative cryptocurrencies are not competitors to Bitcoin, their founders have no intention of creating alternative coins as competitors to Bitcoin because they are very aware that they will never be able to surpass Bitcoin's popularity. As the prime mover or first Cryptocurrency ever, Bitcoin has advantages over other cryptocurrencies. Bitcoin has the largest network, the most legitimacy in the eyes of retail and institutional investors, investor confidence in Bitcoin because it is built on the most secure database in history.

Nothing will happen to Bitcoin even if it plays a single role because its price is very dependent on supply and demand. Just imagine Bitcoin being able to reach several ATHs even though it is side by side with Altcoins, especially since Bitcoin is the only Cryptocurrency that has ever existed. Even though thousands of other Altcoins have been circulating amidst Bitcoin's popularity, the Bitcoin community firmly believes that altcoins will not replace Bitcoin due to its fair and unchangeable monetary policy, a trait that no technology can fix.

[bayu7adi]

I don’t feel that bitcoin has any competitor to be honest and if they were no Altcoins the adoption of bitcoin doesn’t look like something that would be affected because even now the number of people that go into cryptocurrency are through bitcoin, so even without the other coins they will still come.

I got into Bitcoin initially because of altcoins. Yeah, I knew about Bitcoin first, but altcoins convinced me about cryptocurrency for a while. After they pulled off many scams, at the same time, it made me realize that Bitcoin was a better choice. Until now... altcoins are still an entry point for some people until they realize that the best cryptocurrency is Bitcoin.

I see cryptocurrency like a supermarket, where Bitcoin and altcoins are products on the shelves. People come to the store with many choices, meaning options other than Bitcoin are attractive in their own way. Even if they go for ETH, XRP, or BNB, or others, none can match the quality of Bitcoin. That's what makes everyone eventually switch from their initial wrong choice and start using Bitcoin exclusively at the end.

[Questat]

Cryptocurrency isn't just represented by Bitcoin alone but also with altcoins. The crypto market gained too much attention because of these hyped altcoins and think that if there were only Bitcoin available, I couldn't really imagine that crypto become popular.
Until now, many people can't still believe what is happening to crypto and still assuming and asking "what if". It is too hard to say nor do we have any idea in the case that only Bitcoin exists, we can't travel back and start over again. So, whatever happens, these days will simply tell us that new technology will have the chance to gain such things, popularity, and value.

[Fivestar4everMVP]

Without altcoins, I personally believe that the price of bitcoin will so much high, that is, very expensive that it might become really useless for most people to buy it, or invest in it.

And aside from the above, I also feel that if there were no alternative chains, the bitcoin blockchain by now will be completely unusable, as the mempool will forever be clogged, making the rich guys to only be the ones who can transact in bitcoin, and average guys will have to wait up to 30 days to get one blockchain confirmation on their bitcoin transaction even after paying a considerable high fees.

I am personally glad that we have alternative coins and chains, this I personally believe have contributed to the overall general growth of the cryptocurrency ecosystem and market, bitcoin alone wouldnt haw brought in all the crypto users we have today, because many would have been discouraged with investing in crypto if it was just bitcoin, and this is due to the cost of bitcoin, and also the cost of transactions on the blockchain.

[Negotiation]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Nah.. Bitcoin has no competition. In fact, I see bitcoin has currency like saying USD and EUR have competition..other coins are for profit-making whereby we take advantage of it to make money just look at Pyth and how people are talking about it "The hype" and"The season"

Bitcoin doesn't have competition ok but if there is competition bitcoin can't compete with it and rise above it. In a flat market bitcoin is on top of all currencies and more popular The value of other currencies increases depending on the price of Bitcoin. Altcoins are good to hold with bitcoin but will not rise to the top like Bitcoin. Bitcoin rises in value based on its demand and supply Investing in other coins for profit is very difficult to guarantee but most of the time they are scams.

[DeathAngel]

If there were no other cryptocurrencies apart from bitcoin, it is likely the price would be a lot higher. With no alternative cryptocurrencies to divert investor attention or capital demand for bitcoin could potentially increase, leading to a rise in the price.

[Blitzboy]

When the general public talks about Cryptocurrency, what comes to their mind is Bitcoin. Alternative cryptocurrencies are not competitors to Bitcoin, their founders have no intention of creating alternative coins as competitors to Bitcoin because they are very aware that they will never be able to surpass Bitcoin's popularity. As the prime mover or first Cryptocurrency ever, Bitcoin has advantages over other cryptocurrencies. Bitcoin has the largest network, the most legitimacy in the eyes of retail and institutional investors, investor confidence in Bitcoin because it is built on the most secure database in history.

Nothing will happen to Bitcoin even if it plays a single role because its price is very dependent on supply and demand. Just imagine Bitcoin being able to reach several ATHs even though it is side by side with Altcoins, especially since Bitcoin is the only Cryptocurrency that has ever existed. Even though thousands of other Altcoins have been circulating amidst Bitcoin's popularity, the Bitcoin community firmly believes that altcoins will not replace Bitcoin due to its fair and unchangeable monetary policy, a trait that no technology can fix.

Bitcoin is the first love of the cryptocurrency world, and its domination is unshakeable! Its pioneer position provides it an edge, like a cryptocurrency celebrity. Bitcoin is the cyber gold standard due to its size and security.

Bitcoin's ideology, decentralized and unchanging monetary policy, makes it unique, not merely being first. The combination of technology and trust makes it more than digital gold - it represents financial development. Altcoins are like new ice cream flavors - interesting but not enough to replace the classic flavor everyone loves.

What about price? Standard supply and demand with a market sentiment twist. Bitcoin capitalises on investor emotions, producing a captivating but risky investment story. Like a high-stakes game where everyone knows the name but cant anticipate the conclusion. Exciting, right? Bitcoin's resilience while altcoins rise? Its stunning and shows ingenuity and belief's power.

[Dr.Bitcoin_Strange]

If there were no other cryptocurrencies apart from bitcoin, it is likely the price would be a lot higher. With no alternative cryptocurrencies to divert investor attention or capital demand for bitcoin could potentially increase, leading to a rise in the price.

I agree with you, boss, but based on the opinions that others have shared concerning these same topics, some said that if it were to be only Bitcoin as the only cryptocurrency, then there would be no competition in the crypto space, which will make some people not have that much zeal to invest, but since we have other altcoins in the market and many other Altcoins that have failed, it also proves to people and investors that Bitcoin is the best.

[HelliumZ]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

No other competitor to bitcoin that is right but if you mean if there is no other crypto currency in the market then what will be the effect on the price of bitcoin? Yes, if there is no currency other than Bitcoin then Bitcoin will have no value. Other cryptocurrencies act as a supporter of Bitcoin in the market and trading in pairs with other currencies creates a positive or negative effect on Bitcoin.

[letteredhub]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

If there's no bad we wouldn't know what's good and the value of that which is good. It is the availability of altcoins that has made bitcoin stand out as a better and reliable coin than them all. Have you asked if there were no alts what would you have used to explain why and what makes bitcoin the best. There wouldn't have been any comparison and it would have been boring.

I cherish the competition that exists among the cryptocurries, the competition has been what has driven bitcoin into the the hearts of the adopters, if there wasn't competition it would have been a boring crypto space and people would not have taken bitcoin so seriously as they do currently.

[boyptc]

I cherish the competition that exists among the cryptocurries, the competition has been what has driven bitcoin into the the hearts of the adopters, if there wasn't competition it would have been a boring crypto space and people would not have taken bitcoin so seriously as they do currently.

It's not about boredom if it's Bitcoin but about the focused of most people that are involved in here. But because the early adopters have seen that there can still be some upgrade that they can do for Bitcoin but they can't apply on it, they have made their own solutions through different altcoins.

But if we only have Bitcoin that's existing as of now, we would have that much value for Bitcoin. But it's okay, we're going to that point soon that most of these alts will be eliminated and there will be a few of them remaining while supporting Bitcoin still as the top 1.

[bangjoe]

I cherish the competition that exists among the cryptocurries, the competition has been what has driven bitcoin into the the hearts of the adopters, if there wasn't competition it would have been a boring crypto space and people would not have taken bitcoin so seriously as they do currently.

It's not about boredom if it's Bitcoin but about the focused of most people that are involved in here. But because the early adopters have seen that there can still be some upgrade that they can do for Bitcoin but they can't apply on it, they have made their own solutions through different altcoins.

But if we only have Bitcoin that's existing as of now, we would have that much value for Bitcoin. But it's okay, we're going to that point soon that most of these alts will be eliminated and there will be a few of them remaining while supporting Bitcoin still as the top 1.

In the end Altcoin will only wait for their deaths after a few years they are running and receive market attention, because they only focus on certain technological categories so that if they are not needed again they will die by themselves, while Bitcoin is outline is the most revolutionary discovery and Can adapt to all kinds of industrial needs, as well as why Bitcoin will always survive because Bitcoin is not only made as a currency but as a store of value of all that exists.

I am aggree with the sentence that the existence of Altcoin shows that competition and development of the cryptocurrency industry is increasingly widespread, with the Altcoin project that is marketed by the developer so that the common adoption of Crypto will ultimately recognize Bitcoin because of Altcoin, I think it does bring knowledge to the development of popularity .

[bluebit25]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Ask the OP in return whether you think the only thing that exists without being forced to has value or not. Well, what I'm talking about is both material and nonmaterial values ​​that we seek, and any tool that people seek must solve the problem they need. I can envision the growth and widespread adoption of bitcoin, but I wouldn't think it is unique because it creates a connection rather than just an asset for people to use who accumulate or use transactions simply.

If we admit it frankly, we always understand that the limitations of this field have been and are emerging, so the fact that it is increasingly innovated and upgraded is something we need to adapt to, not worship it in an absolute position.

[boyptc]

It's not about boredom if it's Bitcoin but about the focused of most people that are involved in here. But because the early adopters have seen that there can still be some upgrade that they can do for Bitcoin but they can't apply on it, they have made their own solutions through different altcoins.

But if we only have Bitcoin that's existing as of now, we would have that much value for Bitcoin. But it's okay, we're going to that point soon that most of these alts will be eliminated and there will be a few of them remaining while supporting Bitcoin still as the top 1.

In the end Altcoin will only wait for their deaths after a few years they are running and receive market attention, because they only focus on certain technological categories so that if they are not needed again they will die by themselves, while Bitcoin is outline is the most revolutionary discovery and Can adapt to all kinds of industrial needs, as well as why Bitcoin will always survive because Bitcoin is not only made as a currency but as a store of value of all that exists.

I am aggree with the sentence that the existence of Altcoin shows that competition and development of the cryptocurrency industry is increasingly widespread, with the Altcoin project that is marketed by the developer so that the common adoption of Crypto will ultimately recognize Bitcoin because of Altcoin, I think it does bring knowledge to the development of popularity .

Yup.

That's what will happen to most of the alts when majority of the people understands the concept of owning Bitcoin. We'll still have a lot of alts by that time.

But there's going to be a purge that's likely to happen by that time because everyone sees that there's going to be a significance of owning Bitcoin rather than having majority of the alts and diversify on them.

[serveria.com]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Well, to me Bitcoin is the only crypto. Bitcoin is King Daddy. Therefore I never call altcoins altcoins - they will always be sh*tcoins for me.

But anyway, back to the topic... I don't share your opinion that Bitcoin's price would be lower, just the opposite - it would be definitely higher if Bitcoin would be the only crypto out there. See, every sh*itcoin has some market cap. And if they would disappear, this money would most likely flow into Bitcoin.

[flyingcarpet]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

The price will only increase if there is demand. I think the existence of a single coin does not affect the price much. According to the simple rule of economics, the more buyers of a good, the more its price increases. Therefore, whether Bitcoin stands alone or not, it can proceed in a similar way.

There are many cryptocurrencies, but which one can you trust as much as Bitcoin? Your answer to this question will be similar to the answer you would give to the question asked in the topic.

[Japinat]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Bitcoin will perform better in the market if there is an existing competition, without any, the people might find bitcoin boring and less valuable in the future. If there won't be altcoins, the market can never offer varieties of coins anymore that will make the competition more healthy. With regards to its price, most likely we will only see less growth in the market which will eventually push the investors to find others investments that will consistently grow and has no options of falling into zero value.

Bitcoin is a profitable and  a highly trusted investment, but without competition, the performance is not that solid and it won't be suitable enough to become a long term investment.

[Mate2237]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Even now I have not seen any coin that is competing with bitcoin instead they are the coins altcoins trying to meet up with bitcoin. If there was no any other cryptocurrency and it was only bitcoin then the price of bitcoin has gone far to the level $100k

Because at that time since competition everybody would focus only bitcoin but the irony of it is that there is no way a good project is launched in the world that there will no imitation. Therefore all the altcoins are just the imitation of bitcoin in different form.

[vjudeu]

How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?

You can sum the whole cryptocurrency market capitalization, and calculate the prize of a single Bitcoin, based on that. But of course, the final result could be higher or lower than today's price, because then, the whole history of Bitcoin development could be different.

Would Bitcoin develop faster without a competition?

There will always be some competition. For example, fiat currencies could still exist in such scenario. But of course, in that case, it would be harder to create any new currency (crypto or not), and have it fully disconnected with Bitcoin. Because it will be extremely easy to create a peg between any coin you want.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

The question could be different than you can think of. It could be, for example: "Should I buy Bitcoin, and activate feature X on my coins or not?". If there are no altcoins, it means there was no reason to create them. Which means, you would have decentralized development, and (consequently) you could pick any feature X, and have it enabled or disabled specifically on the coins you own.

For example, one of the first altcoins, was NameCoin. Which means, if BitDNS or NameCoin would exist only on Bitcoin, then you would have that question: "Do you want to enable processing domain names in your fully decentralized node?". And also: "Do you want to register a name XYZ with your ABC coins, by making a signature, and broadcasting it to NameCoin?". All coins could have full two-way-peg. Which means, you could tell the world: "here is my 1 BTC". And if some nodes would enable "decentralized names", then that nodes would also know: "Hey, that address registered a name XYZ!". But it would be fully optional, and you would just pick features you want to have, and turn them on and off, without any restrictions, according to the rules of each optional subnetwork (note that "subnetwork" in that context would mean "a group of Bitcoin nodes, with activated feature X on relay-level").

NameCoin or BitDNS is easy, because it can work fine on signature-level-only. You don't have to move any coins at all, you can just say "name X is attached to coin Y, as long as coin Y is not moved", and it will be fine (also, in this case, you can decide with each on-chain transaction, if you want to keep that name, or release it). And if you want to pay for domain registration, then you can do that in your transaction fee, and attach a commitment, to any address type you want (it works even on P2PK), and kill two birds with one stone: send some payment, and register a new name, within a single transaction, that would take the same on-chain size, even if you won't register any new name at all. Also, it would be possible, to re-assign your name, without touching your coins, because "the network of decentralized naming nodes" would dictate their "name-based consensus", that could be fully independent from "coin-based consensus" if needed.

Going further, there would be no "new-mining-algo-based altcoins", just to make mining easier. People could stay on SHA-256, and focus fully on that, and just receive a different amount of coins in a fully decentralized way (and also mine Bitcoin at the same time, because Satoshi invented Merged Mining). However, if there would be any need to use a different hash function, then still, it is possible to do so, without creating any new altcoin. It is possible to create a market, where some people would sell their SHA-3-based shares to some Bitcoiners. It is the same case as with selling names in NameCoin or BitDNS. The product is different, but the marketplace could be done in the same way. And it is possible to create some P2P-based marketplace. Even Satoshi wanted to do so, when he created market.h and market.cpp files in the source code, but then he removed it, and nobody brought it back since then.

By the way, the main reason to switch into Scrypt or other hash functions, was because altcoins were attacked, when they didn't implement Merged Mining properly. Which means, if no altcoins would ever be created, they would use Merged Mining (or any other protection) from the very beginning, so there could be no need to ever switch from SHA-256 to anything else. Everything could be handled by commitments, and consequently, any new feature would require no additional Genesis Block at all. New features would be just enabled from block number N, and some miner could just include a commitment into any regular transaction, and activate any feature since then, or even leave it activated as "always was possible", and then the Genesis Block (of a feature X) would always point at 3rd January, 2009.

Another interesting consequence is that some people would like to change the amount of coins in circulation. For example, Litecoin made 4x increase. If there would be no altcoins, then there would be no need to do so. But assuming that some people would want it anyway, the whole thing could be achieved just by going below a single satoshi. Which means, it could be possible to own 0.25 satoshi in a Litecoin commitment network. It could be expressed on-chain, for example by 4-of-4 multisig, where a single satoshi could require four signatures, and each individual would own 0.25 satoshi separately. Of course, on-chain fees would still apply, which means, going below a single satoshi could be not worth it at times, where the standard fee was 0.01 BTC.

Of course, there are more altcoins and features to discuss, including Monero, Pedersen Commitments, cut-through, different elliptic curves, Turing-complete Script on Bitcoin, and so on. But I hope those paragraphs above are a good start to raise more questions. And also remember, that all of it is just "what if", and the "if" condition is already false, because altcoins are already there. But well, what stops us, humans, from dreaming?

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

I am rather "upset or sad", because I can imagine, what could happen, when sidechains could be active. Especially no-fork sidechains, where you could just release a new client, without asking anyone, and have a fully-working two-way-peg between Bitcoin, and your network. Or if you could enable new features through commitments, and disable them just by moving coins on-chain, and not committing to those features again in your new transaction.

You can read some articles by Paul Sztorc to know more about it, for example: https://www.truthcoin.info/blog/one-chain/

As you can see, the title "One Chain to Rule Them All" means it is compatible with your question.

[nurilham]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?
Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

Does Bitcoin compete with other crypto coins?
I think Bitcoin has no competitor. Altcoins aren't the same with Bitcoin, they are different types. The existence of altcoins aren't intended to compete with Bitcoin, they are supporting the Bitcoin.

The price of Bitcoin will always depend on the demand from the investors. When we have Bitcoin only, it can have a higher price if the investors think Bitcoin is like a digital gold that has a unique value. But if the investors think Bitcoin will have a doubtful future because it has no support from other things, surely the price of Bitcoin will be lower due to the low demands from investors.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

Whether we have altcoins or not, people will always have that mind. They will always ask themselves whether they need to buy Bitcoin or not. It doesn't depend on altcoins but it depends on the potential of the profits.

[vjudeu]

Does Bitcoin compete with other crypto coins?

Yes, of course.

I think Bitcoin has no competitor.

Bitcoin has a lot of competitors, including altcoins, but also fiat currencies, and other monetary systems. If you have 1 BTC, then you don't have 1 ALT at the same time. You can have BTC or ALT. If you have both, then those coins are different. You cannot move both in a single transaction, unless those coins are compatible, which is often not the case, because of replay protection (that would simply not exist, if there would be no competition).

The existence of altcoins aren't intended to compete with Bitcoin, they are supporting the Bitcoin.

How? Maybe by being mined in a different way, and lowering potential hashrate? Imagine that instead of Scrypt or Ethash, all altcoiners could mine SHA-256. They could do so with Merged Mining, so they could mine both Bitcoin and their altcoin, with the same computing power. And for some reason, some SHA-256-based altcoins, like BCH, decided not to activate Merged Mining, and not to follow the heaviest chain, even if they could do so, to protect their own chain.

Edit: Not to mention Proof of Stake and signing things. Any federation could run on Bitcoin today, without any code changes. You have 20 validators? Go on, create a Bitcoin address with 20-of-20 multisig, make a single Taproot address, and you are good to go. You can even change your validators by moving your coins to a different output.

[AmoreJaz]

The price will only increase if there is demand. I think the existence of a single coin does not affect the price much. According to the simple rule of economics, the more buyers of a good, the more its price increases. Therefore, whether Bitcoin stands alone or not, it can proceed in a similar way.

There are many cryptocurrencies, but which one can you trust as much as Bitcoin? Your answer to this question will be similar to the answer you would give to the question asked in the topic.

in every market, competition is important to know the difference of their role. however, if there is no competition, i guess, people won't appreciate much about its existence.
and how people look at the demand factor may be different. so i guess, we won't really know the scenario for this.
or maybe, we will have a different competition, not among with cryptocurrencies but when it comes to holding various assets.

[n0ne]

The price will only increase if there is demand. I think the existence of a single coin does not affect the price much. According to the simple rule of economics, the more buyers of a good, the more its price increases. Therefore, whether Bitcoin stands alone or not, it can proceed in a similar way.

There are many cryptocurrencies, but which one can you trust as much as Bitcoin? Your answer to this question will be similar to the answer you would give to the question asked in the topic.

in every market, competition is important to know the difference of their role. however, if there is no competition, i guess, people won't appreciate much about its existence.
and how people look at the demand factor may be different. so i guess, we won't really know the scenario for this.
or maybe, we will have a different competition, not among with cryptocurrencies but when it comes to holding various assets.

If bitcoin is the only cryptocurrency then the growth wouldn't be this high. We could've got its usage all around, and the acceptance level to be same as now as it had got value. In terms of growth we will at the days of 2015, because it is the altcoins that gave the competence and the growth shoot high. At some point Ethereum gave the hard competence, further the competence was found between Ethereum and Binance coin. Further it happened with XRP, so the competence keeps the market progressive and moving on the right track.

[btc78]

The price will only increase if there is demand. I think the existence of a single coin does not affect the price much. According to the simple rule of economics, the more buyers of a good, the more its price increases. Therefore, whether Bitcoin stands alone or not, it can proceed in a similar way.

There are many cryptocurrencies, but which one can you trust as much as Bitcoin? Your answer to this question will be similar to the answer you would give to the question asked in the topic.

in every market, competition is important to know the difference of their role. however, if there is no competition, i guess, people won't appreciate much about its existence.
and how people look at the demand factor may be different.

if bitcoin was the only cryptocurrency you can invest in, its scarcity might be highlighted more
a lot of investors resort to altcoins because bitcoin is too expensive now, basically altcoins gives people choices but without other choices bitcoin might stand as unique and rare

everyone would flock into bitcoin which probably clog the system making confirmation times longer

[vjudeu]

At some point Ethereum gave the hard competence, further the competence was found between Ethereum and Binance coin. Further it happened with XRP, so the competence keeps the market progressive and moving on the right track.

Note that the first thing people wanted, was to build Ethereum directly on Bitcoin. They released their own altcoin, only because the development was not decentralized enough, to make it an optional feature. Imagine what would happen if you could decide, if you want to activate Turing-complete Script on your coins or not. For each individual coin, you could decide "Yes, I want that feature", or "No, I will stick to the existing Script".

If there would be no altcoins, that does not mean, there would be no competition. It could be the opposite as well: very high competition for deploying new features, and convincing users "Please activate my feature X on your coins". Also note that for example sidechains are proposed to be activated through some kind of signalling. Which means, in a scenario of no altcoins, every activation attempt would be successful, or would require no signalling at all. Which also means, Bitcoin would have all features you can think of (and maybe even more, that would be a pure consequence of some other features), and then, it would be up to the user to decide, which feature will be enabled or disabled. Because the bare minimum for such decision, is just making a signature. Not even the transaction: the bare minimum is just a signature, and then the act of moving coins on-chain, without signing those features again, could be marked as an act of disabling them for those particular coins.

everyone would flock into bitcoin which probably clog the system making confirmation times longer

It would only clog the features queue. But if two-way-peg would be popular, that would mean, you could unclog it quite easily. You could decide, to move your coins to a separate chain, which could have for example bigger maximum block size, the whole traffic could happen there, and then could be batched, and posted on the main chain.

Because no altcoins does not mean there would be no other chains. The only reason why the chain is needed, is to solve the double-spending problem, and to order transactions. Which means, you can create a new chain, move some traffic there, put things in order, and then commit to all of that on the main chain.

So, if you think that for example 32 MiB block size is better, then you could say: "I signed my coins X, and I want the maximum block size feature, with size Y". If there would be no altcoins, then, consequently, that kind of things would be possible, without creating an altcoin.

[krishnaverma]

If this was the case, Bitcoin  current price would have been 10 times higher. Because all the money would have flown only to Bitcoin and thus the market cap would have been higher.

[Ayers]

If this was the case, Bitcoin  current price would have been 10 times higher. Because all the money would have flown only to Bitcoin and thus the market cap would have been higher.

Are you sure it will happen this way? Because as far as I know, many people participating in this market don't even know about bitcoin, they joined market because of the shitcoin hype. Especially during the bull season, many shitcoins have a growth rate of thousands of times, creating the attention and attraction of many people. But after participating in the Bump and Dump game, they realized that most of them were scams, so they turned to bitcoin as a lifeline. Therefore, I think if only bitcoin existed on the market, we would not have a developed and popular market like today.

[Mr. Magkaisa]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

       -  As far as I know and understand, even if there were no other cryptocurrencies outside Bitcoin, the market value of bitcoin would still rise. As a result, we cannot assert that its pricing is the same as it is now. It is possible that its worth is lower than the one it now possesses.

Then, first and foremost, Bitcoin is not actually competing; it is the other cryptocurrencies or altcoins that have emerged that are competing with Bitcoin. Do you understand? Isn't there a long history of new cryptos claiming to outperform Bitcoin in terms of price, such as BCH, but failing to do so? These are, in fact, bitcoin's competitors.

[glendall]

I think if bitcoin stood alone without altcoins, bitcoin would not be as famous as it is today. because there are more and more altcoins, the value of BTC will continue to rise, where Bitcoin is the support for all existing altcoins, and because there are many altcoins, there will be lots of reviews from public opinion for cryptocurrency itself.

[DanWalker]

I think if bitcoin stood alone without altcoins, bitcoin would not be as famous as it is today. because there are more and more altcoins, the value of BTC will continue to rise, where Bitcoin is the support for all existing altcoins, and because there are many altcoins, there will be lots of reviews from public opinion for cryptocurrency itself.

I agree, if there was only bitcoin in the market, bitcoin would not be as famous and achieve as many achievements as it is today. Although altcoins are creating more bad reputation than good in the market, we cannot deny their important role in this cryptocurrency industry. I admit that there is no altcoin better than bitcoin, but there are also some altcoins that are seriously building their projects, not all of them are scams. Moreover, if there is no altcoin to compare then how can we know how good bitcoin is.

Furthermore, I prefer a diverse market rather than a monopoly, because each person's needs are different, each person will have the most suitable choices for themselves.

[lizarder]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Altcoins also have a role in helping the concept of blockchain and cryptocurrency development, but this does not mean that altcoins are helping Bitcoin grow. Bitcoin has its own strength in its journey, which is why until now Bitcoin has been able to survive, but not many altcoins have been able to survive because their fundamental level is questionable.

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

Then who can guarantee that if altcoins didn't exist, Bitcoin would rise faster because there was no competition. Competition is clearly a force that makes Bitcoin one of the best and it is certain that when Bitcoin has no competitors, its development will slow down a bit. Both bitcoin and altcoins have their respective roles in cryptocurrency and both play their respective roles in determining the level of development.

[Charmekkd]

Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

I also agree with you, because usually in competition there is something called comparison, the same is true with Bitcoin and altcoins. With this, it will definitely cross investors' minds to choose which asset to buy. Therefore, bitcoin and altcoins have become rivals, which in essence indirectly makes bitcoin's name even better. Because for example altcoins don't exist and only bitcoin exists. I don't think the crypto world will be as popular as it is now. Therefore, altcoins also have an important role in the development of the crypto world and the development of bitcoin. Because altcoins become a benchmark and comparison against Bitcoin, the quality of Bitcoin is increasingly visible.

[YUriy1991]

Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.

But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"

As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.

Not all of them, but in the market everyone is free to choose as they wish, but regarding price potential, it all depends on demand, when demand is high the price will rise and that is no exception for BTC. All items. I don't think it's a competition but rather an objective thought about BTC. Someone who already knows the potential of BTC in the future will not easily be shaken by seeing the pumps from altcoins, for example today and in terms of price, no one has surpassed BTC yet. So why do you have to notarize it like that?

[JunaidAzizi]

Would Bitcoin develop faster without competition?q

Well, it is a very interesting topic, and giving my thoughts on it will be amazing. You tell us both the condition that what would happen if there is no competition and what if there is competition I think you are right in both but my opinion is that if there is no competition the price of Bitcoin will increases. How? Let me explain. There is a large market of cryptocurrency and people are investing in all these coins because they have huge options In this way, the whole money and investor is distributed among these coins and there are few persons who left for Bitcoin but if there is only Bitcoin then people have not any option for investment other then Bitcoin and all the money that is distributed in the alt and other coins will automatically come to Bitcoin and in this way, the price will be high.

[Promocodeudo]

If Bitcoin were to be the only coin in existence without competition, the price would have been very high and many people would have been left out, bitcoin was built to fit any kind of investor, the people that want to accumulate gradually and the people that have more fund to buy in large amount.
I want to categorically state here that there is no way alternative coin wouldn't have been in circulation but the thing is that whether those alternative crypto are in circulation or not they can never compete with bitcoin, this currency has perfected payment process in several ways, the price can never be compared or measured with any crypto, so with or without any alternative cryptocurrency bitcoin will still boom and boom again.