But if to talk about all financial system generally. Bitcoin has no competition today. It took all the best sides of online payment, fiat, gold and others and joined in itself.
Bitcoin holds the first position among all crypto curencies today. But who can tell will it lead forever? Another crypto currency that can solve all minuses, yes, minuses are exist, of bitcoin can replace it one day.
Topic: Bitcoin has no competition - page 81. (Read 43198 times)
This is a very ambiguous statement.
As the answer is both yes and no.
Yes because when we compare bitcoin to Fiat,
Bitcoin has miles to go ,
It still has to achieve a lot and conquer the trust of people.
But when we compare it to other crypto currencies,
There are many new crypto currencies that have come up,
Eg ETH ,Blackcoin. But bitcoin is the best in class ,
And bitcoin is mostly prefered among all the crypto currencies.
So we cant directly say that bitcoin has no competition.
As the answer is both yes and no.
Yes because when we compare bitcoin to Fiat,
Bitcoin has miles to go ,
It still has to achieve a lot and conquer the trust of people.
But when we compare it to other crypto currencies,
There are many new crypto currencies that have come up,
Eg ETH ,Blackcoin. But bitcoin is the best in class ,
And bitcoin is mostly prefered among all the crypto currencies.
So we cant directly say that bitcoin has no competition.
Alternative cryptocurrencies are split and creating strong momentum... Even though Bitcoin looks dominant, many investors have spun into new areas in smaller coins to build hype + diversify into variety.
Bitcoin surely will always hold gold value, even outpace standard metal. It's just a matter of time before this occurs In all upcoming currency markets as well.
They are gambling in that sense, they think it a short time they can make the price skyrocket and since in this crypto world, relevant news will affect the price, they can create a fake news that will think others of making a demand which would eventually increase the value. It's all about timing, after a pump, dump will follow, so paying attention is necessary. Bitcoin surely will always hold gold value, even outpace standard metal. It's just a matter of time before this occurs In all upcoming currency markets as well.
Alternative cryptocurrencies are split and creating strong momentum... Even though Bitcoin looks dominant, many investors have spun into new areas in smaller coins to build hype + diversify into variety.
Bitcoin surely will always hold gold value, even outpace standard metal. It's just a matter of time before this occurs In all upcoming currency markets as well.
Bitcoin surely will always hold gold value, even outpace standard metal. It's just a matter of time before this occurs In all upcoming currency markets as well.
It seems so, when many altcoin made their competing so bitcoin keep speeding ahead. I think need a special strategy to be able to compete with bitcoin. Everyone will make bitcoin as priority number one after that they will think altcoin.
There's some innovation in the altcoin scene. However there will likely never be enough to outmatch Bitcoin. In my opinion you would need an entirely new concept to achieve that.
Altcoins serve as a testing ground for new ideas. The good ones might later be integrated into Bitcoin, while the original altcoin is abandoned. The network effect of Bitcoin is just too strong for any other outcome. The key factor for the attractiveness of a cryptocurrency is the size of its user base and development community. No altcoin can compete with Bitcoin in that regard.
Altcoins serve as a testing ground for new ideas. The good ones might later be integrated into Bitcoin, while the original altcoin is abandoned. The network effect of Bitcoin is just too strong for any other outcome. The key factor for the attractiveness of a cryptocurrency is the size of its user base and development community. No altcoin can compete with Bitcoin in that regard.
but in general we can say that there is no compitation of bitcoin because the other currencies are still too much far behind from bitcoin and bitcoin is on number one with respect to its price, services and the users,
When it comes to price, dummy altcoins can make some lame coin and then set the price much higher than bitcoin. Of course no one would buy it but you get the point. The price doesn't always guarantee advantage over other coins. I think the number of users is one of the major factors that you should look at when you want to compare coins. People are the ones that make the price of a coin increase as well.There are probably a multitude of reasons why bitcoin is still far ahead but I sincerely think it's a great thing that we have one coin for everyone to put their support behind (for now at least), and that is bitcoin 
If a total newbie would take a look at the price manipulation that has happened last night, his trust of bitcoin will be destroyed. Even other people would feel devastated as they watch the market movement yesterday. 
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.
Bitcoin is not competing any businesses in the entire world. But the other online business is competing bitcoin and some are cloning it because of the system of bitcoin has.
I don't necessarily think that at this very moment competition is a good thing. I think the people need a coin that they can understand, they can trust, and they can adopt. Maybe in the future competition will be good, but for now I think it's necessary for one coin and one coin only to introduce the world to crypto currency. If more coins come along, that's of course never a bad thing.
I strongly agree with GMPoison opinion. This is not the time to have a competition in the sense of antagonism between currencies. Instead of it a healthy competition, in the sense of fair play would lead the crypto currencies to be done day by day better and earning mass adoption of people worldwide.
There are probably a multitude of reasons why bitcoin is still far ahead but I sincerely think it's a great thing that we have one coin for everyone to put their support behind (for now at least), and that is bitcoin
I don't necessarily think that at this very moment competition is a good thing. I think the people need a coin that they can understand, they can trust, and they can adopt. Maybe in the future competition will be good, but for now I think it's necessary for one coin and one coin only to introduce the world to crypto currency. If more coins come along, that's of course never a bad thing.
I strongly agree with GMPoison opinion. This is not the time to have a competition in the sense of antagonism between currencies. Instead of it a healthy competition, in the sense of fair play would lead the crypto currencies to be done day by day better and earning mass adoption of people worldwide.
Of course Bitcoin has competitors, all the other cryptos compete against Bitcoin. Not very successful right now, but this can change any minute. Also Gold serves a different purpose, because most use it not as an investment to make money, but to diversify. If the stock market and Bitcoin go bonkers, then you still have some value not like people who lost it all.
None of the other altcoins have even one-hundredth of the user-base which Bitcoin is having right now. They can't rival Bitcoin in popularity, reach and technology. That is the main reason why their exchange rates are not rising right now.
But it become harder and harder for people to buy it and harder for others to mine, so there are many who are switching to other cryptocurrencies and mining those so that when the time comes for them to rise they will have a chance.
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.
That is very interesting. I will assume it is probably true what you say about the 66% bitcoin exchange. There maany altcoins out there and many people looking for profits. It makes sense thst the % for altcoins is high. I wonder when it will hit 50/50 ?
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.
That is very interesting. I will assume it is probably true what you say about the 66% bitcoin exchange. There maany altcoins out there and many people looking for profits. It makes sense thst the % for altcoins is high. I wonder when it will hit 50/50 ?
Now no other cryprocurrency can compare with it. Over the years say that the btc has died hundreds of times, but not only dead but is evolving daily and has helped millions of people worldwide. so it can't has competition. 
Yes in the present situation the Bitcoin is the king of cryptocurrency. No other currencies will compete with bitcoin now. But we are not sure how many days the BTC will maintain his reputation. As you said, lot of times the BTC has died in the past, so we are not sure it may be repeated again in future. But as per now according to me, there is no competition against Bitcoin. 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.
That is very interesting. I will assume it is probably true what you say about the 66% bitcoin exchange. There maany altcoins out there and many people looking for profits. It makes sense thst the % for altcoins is high. I wonder when it will hit 50/50 ?
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.
Agreed. 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.
Most people, along with myself, probably feel the same way, and use altcoins for the same purpose. The altcoin rate of change is much faster than bitcoins. While risky, the profits can present themselves much quicker than investing with bitcoin. But at the end of the day, all of that profit goes directly back into Bitcoin
The rate of change seems to be faster but it won't sustain long similar to the bitcoin price. Possibly if altcoins have similar potential on price sustainability the competence will be high. Now bitcoin has moved a step ahead competing with altcoins, so now competence is among them to follow bitcoin as runners.
altcoin rate of change is much faster than bitcoin because higher price and volume is smaller compared to other cryptocoin
Exactly, the more lower volume the easier those whales could control its price, for example an altcoin that having 24 hours volume with only 10 bitcoin when a whale suddenly came and pumping it with only 5 bitcoin which is half of the current 24 hours volume then the price could probably increasing about 100% or even more. And altcoin sometimes could lost its trust by their holders so it's more volatile compared to bitcoinPumping doesn't work this way
If an altcoin has a trading volume of only 10 bitcoins daily (or something to that tune), it is essentially dead, and if some whale decides to pump this altcoin, he will only lose his money since there would certainly be a lot of people ready to cash out and forget about this coin for good. Pumping with subsequent dumping is used obviously for earning profits, and it is assumed that after the initial pump the price will continue to rise, at least for some time (so-called fear of missing out or panic buying), so that the dumping part would be profitable ("buy low, sell high")
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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.
Agreed. 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.
Most people, along with myself, probably feel the same way, and use altcoins for the same purpose. The altcoin rate of change is much faster than bitcoins. While risky, the profits can present themselves much quicker than investing with bitcoin. But at the end of the day, all of that profit goes directly back into Bitcoin
Now no other cryprocurrency can compare with it. Over the years say that the btc has died hundreds of times, but not only dead but is evolving daily and has helped millions of people worldwide. so it can't has competition.
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.
Agreed. 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.
Most people, along with myself, probably feel the same way, and use altcoins for the same purpose. The altcoin rate of change is much faster than bitcoins. While risky, the profits can present themselves much quicker than investing with bitcoin. But at the end of the day, all of that profit goes directly back into Bitcoin
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