Topic: Bitcoin has no competition - page 102. (Read 43199 times)

This is very profound.

Bitcoin has a very, very serious, fundamental problem: the absence of anonymity and hence the fact that bitcoins are not fungible.  It has other technical problems too (like the limited number of transactions per second).  It has also amazingly good properties, but I think the anonymity that is lacking is the most serious problem.
This will bite back one day.  But indeed, bitcoin was the first, and has a huge "first mover" advantage especially because of its network effect.  Although many altcoins are stupid ideas, some altcoins really have brilliant improvements over bitcoin.

The altcoin scene is the laboratory for crypto, because bitcoin has become "too serious".

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.

Correct,  even bitcoin  developed perfectly and no one can compete with it  even how many altcoins  existing almost every week or month . We wont know what would happen in the future maybe bitcoin  would be  very succesful or  would experience a big problem or changes in the future. As we all know that people would definitely find an alternative way when  the times that bitcoin would have a very big  problem.

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.

history thought me one lesson. things change. sometimes fast and sometimes slowly, but eventually they change. they do not have to, but it is not clever to assume that they never will.
if the development of bitcoin takes a bad turn, then the community will very fast find an alternative to bitcoin.
 

But not in bitcoin, like what I said bitcoin is an open source to any business in the world. Its just the company other company they thought bitcoin is competing them but the truth is if they deeply knowledgeable in it they can create an innovation system if they connect it their business. That's it!

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".

I am agree with you, people's oppinion is very important for bitcoin value. Good oppinion about bitcoin will make more people come's to buy bitcoin and then effected the bitcoin prise. Bitcoin existing is depend of people whos use  and support it. And my personal oppinion is the people in this forum has helped bitcoin to stay exist.

There is a good chance Bitcoin will remain number one for a long time but that's only because it is the simplest instance of the blockchain technology. Altcoins attempting to compete against Bitcoin face an extremely difficult challenge in that they need to bring something truly worthy to the table to distinguish themselves from Bitcoin.
The problem with adding truly awesome features is that these tend to increase overall complexity exponentially. The more complex something is, the higher the probability something will go wrong somewhere. As seen with Ethereum, the more loopholes there may exist in the code.
There are plenty of coders out there with genius level intellects, some no doubt rivaling or even surpassing Satoshi's, however Satoshi holds a sizable advantage over them in that he was the one who came up with the idea of the blockchain. The reason why it is an advantage is because there was no pressure for him to achieve anything at the time he was working on his idea. He worked without the debilitating weight of expectation, presumably out of pure passion (no money incentive). Improving upon a truly great idea is a whole lot more difficult than coming up with the idea in the first place.
It is by no means an impossible task but it will likely take a long time for someone to come up with a blockchain innovation/feature on par with Satoshi's original idea.

Yes. The price is also what tells how valuable it is. I can see there is a lot of gap from other currencies price and it got a price rhat is even better with other commodities.

Bitcoin is already the mother of all crypto currencies. because it is the oldest and also most trusted currency.
I don't think any altcoin can compete with bitcoin or vanish bitcoin. the altcoin need so much efforts to do so, as you said every altcoin are still depending on bitcoin to trade or exchange.

Its true, No matter how many altcoins will rise up in cryptocurrencies they cannot over pass the price of bitcoins has right now. because they are kind of a clone of digital currency, and Bitcoin is the original  first digital currency and altcoin is just a clone currency of bitcoins.

i agree with this, although there are some parts of it that needs some slight changes but it is true overall. for example i agree that no altcoin that exists today can replace bitcoin but nothing says that an altcoin created in the future can not surpass bitcoin. but again that doesn't mean bitcoin will go down because of it! they can exist together.

Well, I have the same thoughts. bitcoin is my primary currency too. but the growth of alternative crypto currency and their price's make me afraid about bitcoin. just see the price of Xaurum.. it almost beaten bitcoin in price. being exchanged for 1.2BTC each Xaur. and it is not only about the price it is matter of usage of altcoin. one altcoin may can't compete with bitcoin. but overall altcoin usage is growing over and over day by day. it is possible that one day people use other alts more than bitcoin,
just see the popularity of Steem, Waves, Lisk, not more than bitcoin yet but constantly growing like hill.

i think people will know bitcoin first then altcoin, because bitcoin can exchange into fiat, but for altcoin, its need to change into btc first then they can change into fiat. and yes i think bitcoin will become a mother of every altcoin for today and for future.

The market cap could be calculated with different metrics

I'd say going by actual blockchain coin transfers Bitcoin's market cap

would be much higher,

BItcoin actually is open to all business in the world, whether it is an advetising, franchising, conventional, even in the livelihood or cooperative it can be adopt by the mass. And this thing will be depending how are the business will connect bitcoin in the system they have. So meaning Bitcoins is not competing any business instead bitcoin is giving innovation to it.

Me too, We are in the same page actually, I usually invested in the altcoins for me to multiply also my bitcoins. It may not the same price like bitcoin but its more faster to mined coins than to mine bitcoin,but in the end I convert the altcoin into bitcoin once I sell it.

Competition is important to encourage improvements.

No competition as it is the leading crytpocurrency as of the moment.  Almost all the rising new cryptocurrency are based on bitcoin price.  So yes, it is like correct to say that it has no competition as it proves to be the leading and most used digital currency today.  Maybe because it is the first digital currency that was programmed and sustain its values up to this time.

Maybe it's not always a new technology, just from the development of old technology can make new things is better. we do not always need waiting about a new technology.