Topic: Bitcoin has no competition - page 87. (Read 43199 times)

I think bitcoin will only permanently remains in the top  , many have tried to change the game but Bitcoin is a really strong cryptocurrency . It is the father of cryptocurrency.

I think these new cryptocurrencies are starting to hit a bit of a wall due to the network good traits they have. In other words, the more people that adopt one cryptocurrency, the harder it is for another cryptocurrency to get investments and take off as well. I think if cryptocurrencies stick around for a while, bitcoin will likely remain at the top unless another currency does something absolutely revolutionary which changes the game.

In typical r/btc fashion, you exaggerate.
https://coinmarketcap.com/ shows that the current bitcoin market cap is 86% of the total. Check it out.

I've learnt to fact check you guys at every step these days.

edit: just saw how old your post was. 'Tis possible you were right back then, but not now.

I dont think so that anyother digital currencies can takeover bitcoin as Bitcoin technology is not belonged to any one of the developer but it is a open source and anyone can compile and mine and use it. Its a open source without any one controlling it. But other coins which ever is in market is controlled by the developer and it has certain limit.

We must accept the truth that nothing is permanent so we might see some alt coin coming up and challenge bitcoin in near future but for that, the alt coin would need a stronger community, stronger potential and wider user base as well as larger market capital and I don’t see any potential in other existing crypto currencies other than bitcoin but no one knows the future.

It's not rules of the world. bitcoin was the first cryptocurrency ever made and that's it what make bitcoin is the most popular amongst other cryptocoins. bitcoin will eventually have competition but maybe with another kind of digital currencies and not the cryptocurrencies ones. it's just matter about the time until someone invent it

yess u are right  bitcoin has no competition at all. people will slowly adopt bitcoins because it is the first of its kind and can earn a lot with it no matter how good the other alternate bitcoins may be no body can give a tough competition to bitcoins .it rules the world.

Yeah bitcoin is very stronger and powerful  because this cryptocurrency have strong enough and its hard to make a coins like bitcoin.  bitcoin is very advance and modern currency and a lot of people are adopting bitcoin in huge amount so bitcoin has no competition .

Ofcourse bitcoin is not competing against the fiat. Its rather drown in fiat at the current stage. One could imagine that bitcoin might be competing with gold. But people that value gold wont value bitcoin because for them it has no intrinsic value.


If so people that have gold might as well have bitcoin, but they wouldnt exchange their gold for bitcoin. And thats what competition means. Same is with fiat but little different.

 People do exchange fiat for btc, but they expect to get their fiats back. I think that no sane person view bitcoin without  viewing the value in dollars. People using dollars dont value their dollars with the idea how much bitcoins could ive bought with it.

If indeed bitcoin has no competitors, what then is giving it the momentum to stay up there? I think some people are actually looking but not seeing. All the fiat currencies out there, all other cryptocurrencies are competing with bitcoin, but because bitcoin is decentralized, that gives it an edge over fiats and being the first cryptocurrency, it cornered the early bird advantage thus making it difficult for other coins to outsmart it in capitalization.

i agree with you bitcoin has really no competitive we can see that bitcoin going to powerful and bitcoin never decreases its value and there is a lot of people are investing their money in bitcoin so its prove that bitcoin is very much stronger currency.

two sportsmen can compete. see who can run faster. also two companies can compete. see who can sell more operating systems. like microsoft and apple. but in both cases there is someone in charge, someone deciding to compete and someone agreeing to the rules (see who can run faster or sell more).
if i say a sportsmen is competing with microsoft over who can bring more cake to the moon, you would declare it nonsense.
bitcoin, just like gold, can not compete, because there is nobody in charge, nobody who can decide to compete, nobody to agree on the rules of the competition. sure you can compare the usd price of bitcoin and gold and see who performed better. but was this the purpose of bitcoin? did satoshi say let us create something that will rise in the dollar value so it can be more valuable then gold?
and if you want to see bitcoin as investment, then i say that there is nothing else like bitcoin. you can let two companies compete, but you would not compare stocks with the real estate market and speak of a competition. bitcoin is a new class. the closest would be natural resources, but you pointed out correctly, that bitcoin is not physical.
whether or not bitcoin has a competitor within the crypto world is discussed in this thread, but i just accepted the premises of the poster i was answering.
oh one more thing. companies are mining bitcoin and gold. and they are competing against each other. someone is in charge of these, they decided to compete and the rule is to see who can mine more. the reason for this is to make a profit, but those companies are not the same as bitcoin itself.   
 

That doesn't make any sense.
Not all "the other". There are about 10-12 altcoins which are derived from bitcoin, something like Zetacoin. And YES you can compare between bitcoin and altcoins (apparently, you don't know what altcoin is). Altcoin is an abbreviation of bitcoin alternative, So how can't you compare something that is alternating with another?!

I got no clue what you are talking about here. Besides, bitcoin doesn't have a physical existence like gold, but a lot of features of bitcoin make it over the top if compared with gold. Simple link:
https://www.goldrepublic.com/news/gold-or-bitcoins

And why do you think they are competing over bitcoin while bitcoin (as you claim) "does not mind what happens with itself"?

Of course bitcoin has competition. The biggest competitor is fiat. Because fiat such as US dollar and euro are more popular and known now that bitcoin. I think bitcoin need more time to be on the same level with fiat. And when this time will come bitcoin may be counted as totally adopted.

I dunno.  I could see bitcoin being replaced.  Just like no one pre-2008 could foresee the coming of bitcoin, besides SN himself.  Bitcoin is a game-changer for sure.  But the battle of the block chains have just begun. 

Yeah bitcoin has no competition because bitcoin is available in everywhere in the world for shopping and we can buy many stuff with bitcoin in online shopping and bitcoin is much more stronger and powerful and bitcoin is very much popular than other currency.

Yes, there is no competition for Bitcoin at the moment because of the trust people have built in it for thee number of years but I won't expect this trend to continue once some of these project to scale through level of difficulties at the early stage and the market seems to built trust in the platform and the most important thing is having real world use like Bitcoin it can give Bitcoin a good fight

I guess no need to have competition on that since we can see that bitcoin is having its own name and value
to the community and economy.

Yes, I agree with this, no one can be competitor of bitcoin, because of its strong hold of currency and so much with the users it has high volume of users compared with some other altcoins .

Those pre-mined altcoins only compete against each other. All of them promise to beat the hell out of bitcoin but no one seem to actually do anything near it. I guess it's just one of their marketing strategies. Assuming that all the stores accept crypto-currencies, I would only choose to use bitcoins. All of the other altcoins have a dev that can run away and ruin the whole thing, making you lose money. Bitcoin doesn't have someone like that.