Bitcoin ic competition to fiat. I think even of some new altcoin appear first that coin need to be accepted. I'm using bitcoins, earning bitcoins here and there, but I didn't see where we can use ETH or now ETC, in which casino. I don't bother myself to work for that coin, also I don't like that name. Who can tell which other coin can be competition to bitcoin? Like that is something easy, I would like to hear which coin can come close to btc from people who are talking against it. Clear question and I wish for clear answer not some mambo jumbo bullshit.
Topic: Bitcoin has no competition - page 101. (Read 43199 times)
In this circlejerk it is popular belief bitcoin is too big to fail, it is not!
In the rapid changing online environment it is very hard to stay relevant in the long run, bitcoin fail to achieve scale may dictate its doom, maybe not, one thing is certain, bitcoin's purpose is yet to be found and claiming it is too big to fail is just wishful thinking.
In the rapid changing online environment it is very hard to stay relevant in the long run, bitcoin fail to achieve scale may dictate its doom, maybe not, one thing is certain, bitcoin's purpose is yet to be found and claiming it is too big to fail is just wishful thinking.
That is not the case. Think of Ethereum for example, a smart contracts-based digital currency, which has grown exponentially during the last couple of months.
Not sure why this conversation is so serious?! Just look on games market and you will see that in every place is Bitcoin option. Mario Bros time already gone and Bitcoin will enter to mainstream via gamers.. or torrents.. we have to look on our kids, because they will use bitcoin as money!
Bitcoin has been steadily losing market cap dominance, from 90%+ just two years ago to ~80% today.
I could release mysmellyarsecoin tomorrow, print 20 million tokens, hype the shit out of it and put ten up for sale. Hey presto, I've just taken 10% of Bitcoin's market cap.
The coins that have taken Bitcoin's market cap have precisely zero use. That's when they're not forking all over the place.
The main use for all of it is still speculation by a long, long way. Bitcoin is the only one with a sliver of utility. Once that sliver grows, and there really isn't anything else with any utility, then the speculation will recede.
People can of course reward utility to other coins easily enough. There isn't any reason Doge couldn't do just as good a job, but comes a time when people have to settle on what they're going to reward value to otherwise it all turns to dust.
That's still Bitcoin and every day that it remains Bitcoin makes it stronger.
Pretty much well said. Some of the coin in that are taking away huge percentage of bitcoin market cap is just some hyped manipulated coin. Which in the end will end up nothing. Some are just boasting about certain tech but the question is, is it already implemented? Nope it was just a hyped but later on will find out that it is still the same shit promised way back years ago, just changing it terms. There are some few coins that actually have usage and unique tech that is already implemented yet they are at the back seat waiting to hit the spotlight. As for bitcoin it will grow stronger each year looking at its competitor getting weaker after months have passed.
I would say otherwise. Bitcoin has a lot of competition due to altcoins like Ethereum, monero, dash, litecoin and doge. Also news coins are popping up every week.
Due to these altcoins, the investments are getting divided. If all of the online investments are flown in to bitcoin, it would have reached 2k USD mark by now. But due to the immense competition from the altcoins, it is still at $580 level.
Due to these altcoins, the investments are getting divided. If all of the online investments are flown in to bitcoin, it would have reached 2k USD mark by now. But due to the immense competition from the altcoins, it is still at $580 level.
These altcoins mostly exist to make their developers rich and for traders to make a nice profit or bad loss on the exchanges.
I trade some alts myself.But I also face reality.
Yes this is ugly truth most of the altcoin fanboys don't like to here and try to deny whenever they can.
Furthermore alts are the perfect testnet for Bitcoin.For instance, thanks to Ethereum we know how a contentious hardfork would probably end for Bitcoin.
I would say otherwise. Bitcoin has a lot of competition due to altcoins like Ethereum, monero, dash, litecoin and doge. Also news coins are popping up every week.
Due to these altcoins, the investments are getting divided. If all of the online investments are flown in to bitcoin, it would have reached 2k USD mark by now. But due to the immense competition from the altcoins, it is still at $580 level.
Due to these altcoins, the investments are getting divided. If all of the online investments are flown in to bitcoin, it would have reached 2k USD mark by now. But due to the immense competition from the altcoins, it is still at $580 level.
Bitcoin has been steadily losing market cap dominance, from 90%+ just two years ago to ~80% today.
When it comes to exchange dominance it's just 66.4%.
This trend will probably continue and in a few years there will be people using cryptocurrencies that do not know what bitcoin is.
When it comes to exchange dominance it's just 66.4%.
This trend will probably continue and in a few years there will be people using cryptocurrencies that do not know what bitcoin is.
You fail to understand laws of economics. It doesn't matter how many shitcoins they create, Bitcoin will remain number 1. The overall crypto market will keep growing but Bitcoin will always take the lead. The money in other shitcoins are there temporarily in hopes of getting more BTC out of them.
All other cryptocurrencies are competition in a way but they are not actual threat to the Bitcoin. That just makes Bitcoin stronger but I think that it would be good to have at least one more crypto with high potential to achieve Bitcoins success. Maybe Etherum is the answer?
Actually ethereum did planted a good seed so it got a lot of trust from people now. It is getting more stronger because of that. That is how bitcoin also started. Just lived for a manner of time then got populated.
All other cryptocurrencies are competition in a way but they are not actual threat to the Bitcoin. That just makes Bitcoin stronger but I think that it would be good to have at least one more crypto with high potential to achieve Bitcoins success. Maybe Etherum is the answer?
Bitcoin is still king. There is no question in that. One concern I have is why do promising decentralized, p2p services continue to be ignored by the very people into bitcoin? Services like Open Bazaar and Bitsquare are advancing the way we do trades and business but a majority of us do not use it.
thats true, bitcoin does not get any competition out of the other currencies and i dont thiink it is a bad thing because it allows bitcoin to grow fast 
Bitcoin doesn't compete with other currency it is other currency who competing to bitcoin
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All those FUDsters that where saying year ago how Bitcoin would fail because another currency would take over get proven wrong year after year. The more time Bticoin is alive, the stronger it gets and the bigger the network effect. Sorry but there will not be a Bitcoin 2.0. Bitcoin will go to 100k+ per coin in the next 5 to 10 years, it will absorb all the value researched in the field if not directly through protocol improvements then through sidechains.
Bitcoin will remain the only solid coin. The only coin that survived for the longest time (other coins can't claim this unless they invent a time machine).
There will be alts that pump really hard and make people millionaires, but no alt is going to surpass Bitcoin's strength and solidity. No coin will get a bigger marketcap. In the long term people holding 21+ BTC will be rewarded by history with rich-tier status for seeing the value in it before most people did. Do not let the FUDsters trick your mind or the trolls try to derrail the excellent job being done by Core devs.
Let's continue then our path towards inevitable triumph.
Bitcoin will remain the only solid coin. The only coin that survived for the longest time (other coins can't claim this unless they invent a time machine).
There will be alts that pump really hard and make people millionaires, but no alt is going to surpass Bitcoin's strength and solidity. No coin will get a bigger marketcap. In the long term people holding 21+ BTC will be rewarded by history with rich-tier status for seeing the value in it before most people did. Do not let the FUDsters trick your mind or the trolls try to derrail the excellent job being done by Core devs.
Let's continue then our path towards inevitable triumph.
You are right.No altcoin can compete with bitcoin and btc will stay strong and grow.
All the other cryptocurrencies exist because of bitcoin and without btc,they won`t survive.
I don`t care about the "FUDsters".
for me bitcoin has no competitors. bitcoin stand alone and toughest competitors bitcoin is real money. for me bitcoin is still the best. bitcoin makes it easy for anyone to trade finance.
As for now, bitcoin has no competition since it is the first digital currency and more popular. Many sites are accepting bitcoin as payment and its the only digital currency that they accept. Although now and then there are new cryptocurrencies created, bitcoin is still the one who will emerged as most traded and used because its been existing for long compared to others and though its value has been tested from time to time, it is still rising.
In this time, Bitcoin really have competition with other crypto currencies now and also in future. But one thing is clear that people like bitcoin more and also trust on it than others crypto currencies. So it is difficult to say that bitcoin would be remain popular in future.
Bitcoin is still king. There is no question in that. One concern I have is why do promising decentralized, p2p services continue to be ignored by the very people into bitcoin? Services like Open Bazaar and Bitsquare are advancing the way we do trades and business but a majority of us do not use it.
It might be the king for now. As you just said, if it does not develop further, another coin might replace it. I would like it to increase the block size soon.
Bitcoin is prime coin and will always remain the best and most trusted doesn't matter how advanced technology based altcoins will appear in future. They all will be valued on Bitcoin and will remain under it. Bitcoin is first successful digital coin and being first is always an advantage. It is most trusted digital coin right now which will have just expansion and grow more.
Bitcoin is the king of Crypto-currencies and yeah there is no competitor of bitcoin because bitcoin is accepted in many stores and it has good price, that is the main reason to attract people towards bitcoin. And in future bitcoin will accepted in all stores and use as a direct payment method.
Bitcoin has a very, very serious, fundamental problem:
maybe my English is shit but what you call "fundamental" and "problem" doesn't look fundamental and problematic in any ways to me.
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the absence of anonymity and hence the fact that bitcoins are not fungible.
you have been using fiat all your life and never complained about its non-anonymous state or even talking about the fundamental problems of it.
bitcoin was never anonymous it is pseudo-anonymous and it is not a problem if you are
1) paying your taxes
2) you are not trying to do an illegal act.
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It has other technical problems too (like the limited number of transactions per second).
why is this a technical problem? right now there isn't really more transactions that bitcoin network can not handle. look at the number of unconfirmed transactions in different times of the day and in different days for a period of time and you see there is not more than normal which shows the current rate of transaction per second is being handled properly.
also the scalability issue is not something that is forgotten, there are things being done in that area to increase the block size and solve the future problems that may happen and has not happened still.
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I think the anonymity that is lacking is the most serious problem. This will bite back one day.
again, if you are not doing the 1 and 2 above it is not a serious problem.
besides there are solutions for that like using a mixer.
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But indeed, bitcoin was the first, and has a huge "first mover" advantage especially because of its network effect.
bitcoin was not the first.
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Although many altcoins are stupid ideas, some altcoins really have brilliant improvements over bitcoin.
there are some altcoins that have some "interesting" ideas but I have not yet seen any brilliant one that is actually wanted by the users.
can you give me some examples of those brilliant improvements?
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What has been said earlier, that bitcoin has a quasi-perfect initial distribution because there was no "greed" the first year or so, can easily be solved by an "altcoin" : instead of starting a new block chain, it could simply fork off bitcoin, hence solving all the issues of initial coin distribution and seigniorage. Ethereum is the first experiment in the altcoin scene of forking off instead of starting new chains.
ethereum fork was because of the following:
1) etherum is a centralized altcoin
2) it was exploited because of the flaws it has and still not fixed
3) the fork was like a roll back to the previous state because the whales of etherum lost money and they wanted it back so the centralized power gave it back to themselves.
4) soon in the future there may be another contract like DAO and another exploit because of the Ethereum weak code and a lot of money lost by the centralized power and another fork.
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