Bitcoin has no competition - page 71.

bravehearth0319

hero member

Activity: 1022

Merit: 500

Quote from: raphma on August 16, 2016, 08:53:54 AM

I think the same.
Altcoin to me is just a way to multiply my bitcoins, sometimes all my bitcoins are invested in a few altcoins but in the end i sell all of them for more bitcoins.

This one I will support you in this things, because like you I also bought an altcoin even now continuing buying it due to most of my bitcoin was came from the altcoin in which being sold in the exchange platform. From cheap value its profitable because it became more than x10 or more the value of coins.

Fatanut

legendary

Activity: 1008

Merit: 1060

Quote from: pecson134 on March 22, 2017, 11:50:46 PM

This means that bitcoins being a virtual currency is still not considered as yours until you hold them physically by making them into money. Physical property is much safer than the digital one which is susceptible to being rob to one person. Though there are offline wallets still many users do uses online wallets just like me.

You can own a hectare of land but you can't possibly physically hold them. Only a writing on a paper (Proof of ownership) decides that you really own that land. How about that?

Same as bitcoins. You can own a wallet, and own the coins inside it because you are the only one that has access to it. You are the only one that has the verification code, the password, and everything that's necessary to open it.

Physical property might be much safer than digital one when the physical form of something is too large for thieves to steal. Back to our example, a hectare of land can't possibly be physically stolen. But if it's something like a coin or a paper money, it's surely much easier to steal than your digital currency (bitcoins) although your bitcoins are just as safe as your efforts.

Ipwich

hero member

Activity: 1050

Merit: 529

Student Coin

Quote from: epitome on March 22, 2017, 06:54:22 PM

With the recent price rally in almost all of the alt coins and Dash crossing the hundred dollar mark,there might be a competition at a later time i would guess because i never expected any coin to cross those figures other than bitcoin and now we have some coins that have rallied past their best valuation and only future will tell the story.

It's too early to tell, bitcoin is still the leading as we can see in it's value, the possible competition would only happen if altcoins will continue to rise and the opportunity will happen with bitcoin. Although I believe on that possibility but I'm still not losing my faith with bitcoin, it has been here for many years and the volume still keeps increase and the adoption would be a great factor to make it more successful.

However, you cannot expect the price just move in one direction as bitcoin is not known like that, what I believe is it is good for long term than atlcoins.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

We can see now the competition that have been taking place and this one is getting stronger. It ain't a good thing anymore for investors might be divided and will come to think that this competitor have a better service.
At first altcoins are supposed to be there to make look bitcoin more important than others. But now, it seems like they really want to go way above it and somehow change to what we are used to.
At the end, if they all survived in the long run it will be the same. They will have problems with transactions also making it longer to exchange.

pecson134

sr. member

Activity: 630

Merit: 250

★Bitvest.io★ Play Plinko or Invest!

Quote from: Ipwich on March 22, 2017, 10:43:17 PM

Quote from: BitDane on March 22, 2017, 10:24:12 PM

Quote from: stripykitteh on March 20, 2017, 12:06:03 PM

Bitcoin's only competition is Gold and other precious metals because they have a limited supply. Bitcoin is only maxed at 21 million coins and if that limit gets reached then the people will want the coins or there might be only one person with all the supply at the end and nobody will want to purchase it. Having precious metals could get noticed by many people and they will want some of that as well so the price of precious metals will have a longer term of value compared to Bitcoin.

I do not think Bitcoin and gold are competitor. They are two different items. Bitcoin is digital, gold is physical. Bitcoin is intended to be a currency thought people called it a store of value while gold, aside from being store of value have several usage in electronics world. If we look for Bitcoin competitor, it should be in the same field with Bitcoin. Looking at its field , there are lots but nothing comes close.

I would say the same, gold is better than bitcoin in terms of stability and it has been in existence for so long already even before the time paper money is recognize. Bitcoin is only the new currency only and it is has physical value, we support bitcoin that is why the demand is getting bigger but that would not assure anyone it will continue. Gold has proven that it could stay valuable over a longer period of time while bitcoin still needs to prove it.

This means that bitcoins being a virtual currency is still not considered as yours until you hold them physically by making them into money. Physical property is much safer than the digital one which is susceptible to being rob to one person. Though there are offline wallets still many users do uses online wallets just like me.

virasog

legendary

Activity: 3136

Merit: 1172

Leading Crypto Sports Betting & Casino Platform

Quote from: bitbunnny on March 21, 2017, 07:58:19 AM

At the moment Bitcoin doesn't have some serious competition among cryptocurrencies although there are many attempts some very ambitious. But in many ways Bitcoin still can't compete with fiat currencies and there is the space for progress. Gold is also the kind of competition so that is also one thing we have to have in mind.

It is because bitcoin need to improve its features. And yes, I agree that bitcoin cannot ever compete with fiat currencies because of bitcoin is just in virtual in internet access unlike fiat we can touch it physically, unless people will provide lots of physical bitcoin in real, there will be the competetion then after printing lots of it.

Ipwich

hero member

Activity: 1050

Merit: 529

Student Coin

Quote from: BitDane on March 22, 2017, 10:24:12 PM

Quote from: stripykitteh on March 20, 2017, 12:06:03 PM

Bitcoin's only competition is Gold and other precious metals because they have a limited supply. Bitcoin is only maxed at 21 million coins and if that limit gets reached then the people will want the coins or there might be only one person with all the supply at the end and nobody will want to purchase it. Having precious metals could get noticed by many people and they will want some of that as well so the price of precious metals will have a longer term of value compared to Bitcoin.

I do not think Bitcoin and gold are competitor. They are two different items. Bitcoin is digital, gold is physical. Bitcoin is intended to be a currency thought people called it a store of value while gold, aside from being store of value have several usage in electronics world. If we look for Bitcoin competitor, it should be in the same field with Bitcoin. Looking at its field , there are lots but nothing comes close.

I would say the same, gold is better than bitcoin in terms of stability and it has been in existence for so long already even before the time paper money is recognize. Bitcoin is only the new currency only and it is has physical value, we support bitcoin that is why the demand is getting bigger but that would not assure anyone it will continue. Gold has proven that it could stay valuable over a longer period of time while bitcoin still needs to prove it.

BitDane

sr. member

Activity: 1372

Merit: 348

Quote from: stripykitteh on March 20, 2017, 12:06:03 PM

Bitcoin's only competition is Gold and other precious metals because they have a limited supply. Bitcoin is only maxed at 21 million coins and if that limit gets reached then the people will want the coins or there might be only one person with all the supply at the end and nobody will want to purchase it. Having precious metals could get noticed by many people and they will want some of that as well so the price of precious metals will have a longer term of value compared to Bitcoin.

I do not think Bitcoin and gold are competitor. They are two different items. Bitcoin is digital, gold is physical. Bitcoin is intended to be a currency thought people called it a store of value while gold, aside from being store of value have several usage in electronics world. If we look for Bitcoin competitor, it should be in the same field with Bitcoin. Looking at its field , there are lots but nothing comes close.

Potato Chips

hero member

Activity: 2786

Merit: 902

yesssir! 🫡

Quote from: Janation on March 22, 2017, 07:38:21 PM

Bitcoin will remain as a digital currency and it will be used by many people in the whole world. But saying it has no competitions, it has competitions, though bitcoin is nust the popular one because it has the highest price. There are niners that mine other altcoin and then convert it to bitcoin. They do these because these altcoins are easy to mine and they can earn a lot of altcoin that they can convert to bitcoin.

Right now, I wouldn't call it a competition because they aren't even close to bitcoin. But I will call them rivals instead. Maybe in a few years there will be a competition since, DASH, XMR and ETH are doing a great job. That's why people should also watch and save at least one of them.

That's true because there is a excessive competition in bitcoin trading so most people go for altcoin but the fact that it is just another way to earn bitcoin just proves that it is still the king.

Janation

hero member

Activity: 1722

Merit: 528

Bitcoin will remain as a digital currency and it will be used by many people in the whole world. But saying it has no competitions, it has competitions, though bitcoin is nust the popular one because it has the highest price. There are niners that mine other altcoin and then convert it to bitcoin. They do these because these altcoins are easy to mine and they can earn a lot of altcoin that they can convert to bitcoin.

epitome

sr. member

Activity: 246

Merit: 250

With the recent price rally in almost all of the alt coins and Dash crossing the hundred dollar mark,there might be a competition at a later time i would guess because i never expected any coin to cross those figures other than bitcoin and now we have some coins that have rallied past their best valuation and only future will tell the story.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Xester on March 22, 2017, 08:45:10 AM

Quote from: naughty1 on March 22, 2017, 08:29:01 AM

If the BTU does not appear, what you say is absolutely true, however, at present, BTC itself is branched and it has a competitor, which is BTU. There are not any coins that can compete with bitcoins, but they are competing with it, and the ones who cause it are the miners. BTC is competing with BTU, and we still can not determine the winner. Time will show all, and we should make our own choices.

I dont agree with that. Even if BTU will appear it will become just another altcoin in the market and it can never place a threat nor be treated as a competition to bitcoin. If you remember when Ethereum and Ethereum Classic split there was a huge gap in their price. And if that possible split will happen to bitcoin the same thing will happen BTC will prevail over BTU

It can be even more than that

With the miners which support the BU project falling off after Bitcoin Unlimited is launched (provided it gets launched at all, which is a big if), there will likely be less resistance to SegWit and further updates to Bitcoin Core which are long due and overdue. As I understand it, miners that support BU are essentially the same miners which oppose SegWit. Therefore, the old Bitcoin, Bitcoin Core, may get a tremendous boost with BU finally limping on its own, apart and away from Bitcoin. That's basically why I want the BU endeavor to get separated from genuine Bitcoin as soon as possible

igorokavg13

sr. member

Activity: 240

Merit: 250

Quote from: abonarea on March 22, 2017, 09:06:59 AM

My understand about BU is this there have been many serious attempts to derail the Bitcoin through different ways by the developers themselves by raising different issues over the last years. Bitcoin is dominating and will be the at the top to be base currency for any altcoin even after this drama will reach to its end.

I also had the opinion that all these actions are aimed at undermining bitcoin. I noticed - as soon as the price of bitcoin becomes high, it is immediately spoken about hard fork. This is done specifically

abonarea

legendary

Activity: 1526

Merit: 1003

My understand about BU is this there have been many serious attempts to derail the Bitcoin through different ways by the developers themselves by raising different issues over the last years. Bitcoin is dominating and will be the at the top to be base currency for any altcoin even after this drama will reach to its end.

Xester

hero member

Activity: 994

Merit: 544

Quote from: naughty1 on March 22, 2017, 08:29:01 AM

If the BTU does not appear, what you say is absolutely true, however, at present, BTC itself is branched and it has a competitor, which is BTU. There are not any coins that can compete with bitcoins, but they are competing with it, and the ones who cause it are the miners. BTC is competing with BTU, and we still can not determine the winner. Time will show all, and we should make our own choices.

I dont agree with that. Even if BTU will appear it will become just another altcoin in the market and it can never place a threat nor be treated as a competition to bitcoin. If you remember when Ethereum and Ethereum Classic split there was a huge gap in their price. And if that possible split will happen to bitcoin the same thing will happen BTC will prevail over BTU.

naughty1

sr. member

Activity: 406

Merit: 250

If the BTU does not appear, what you say is absolutely true, however, at present, BTC itself is branched and it has a competitor, which is BTU. There are not any coins that can compete with bitcoins, but they are competing with it, and the ones who cause it are the miners. BTC is competing with BTU, and we still can not determine the winner. Time will show all, and we should make our own choices.

xIIImaL

legendary

Activity: 1372

Merit: 1005

Quote from: UCHCHILD on March 22, 2017, 08:02:30 AM

Yes, bitcoin cannot compete to fiat because fiat can be touch while btc can only be seen in screen.
And it needs more improvement to get long in the real economy.

I think you are not much aware bitcoin i guess because the person who knows the bitcoin's potential they won't say that fiat more powerful. Btc is best and convenient than fiat money. You need a help of any financial services to send or receive that until you meet directly but bitcoin can act as a money as well as transaction medium. Please read more bitcoin while you surfing in Google.

UCHCHILD

sr. member

Activity: 490

Merit: 250

Yes, bitcoin cannot compete to fiat because fiat can be touch while btc can only be seen in screen.
And it needs more improvement to get long in the real economy.

BitcoinPC

hero member

Activity: 812

Merit: 500

Quote from: romero121 on March 21, 2017, 09:18:06 AM

Quote from: bitbunnny on March 21, 2017, 07:58:19 AM

At the moment Bitcoin doesn't have some serious competition among cryptocurrencies although there are many attempts some very ambitious. But in many ways Bitcoin still can't compete with fiat currencies and there is the space for progress. Gold is also the kind of competition so that is also one thing we have to have in mind.

Bitcoin has got very few potential competing virtual currencies. As said by above mate that too is not very ambitious, because those currencies suddenly rise and drops down in a short. Now after a long few coins have been experiencing high growth rate, but not potential as bitcoin. Also bitcoin can't compete with fiat but will serve as a secondary option next to fiat.

Right, bitcoin has only few competitive virtual currencies. I also realize other crypto currencies came and up and suddenly down, also most of the other crypto currencies have no trust to the people. The main reason now bitcoin has no competitive because now bitcoin has been achieved high value of price $1067. So now other crypto currencies can't comparative bitcoin's price. So people always prefer to bitcoin than others.

blackhawkeye1912

sr. member

Activity: 784

Merit: 250

Quote from: raphma on August 16, 2016, 08:53:54 AM

I think the same.
Altcoin to me is just a way to multiply my bitcoins, sometimes all my bitcoins are invested in a few altcoins but in the end i sell all of them for more bitcoins.

This totally true, most of the altcoin is helping us to have a bitcoin into our wallet. I think that's major thing purpose of altcoin, for us to buy bitcoin once the value are much reasonable to sell it then it will become bitcion already. also altcoin helped bitcoin to promote it well, so meaning altcoin is not competing bitcoin it is only in the mind of others.

Topic: Bitcoin has no competition - page 71. (Read 43198 times)