Topic: Bitcoin has no competition - page 92. (Read 43199 times)

It is all indeed will be the case, if indeed all men can't wear bitcoin well or maybe there's the latest crypto is so much better than all of the existing crypto including bitcoin. Indeed it is likely that more and more crypto that appears allows the interest of people to use it, because everyone will think that crypto is not invaluable and is not a good place to seek advantage from it. All we get in the bitcoin did better and I think crypto will disappear is besides bitcoin

I second that but I have to admit that it's easier to get some profit mining alt coins than Bitcoin at the moment. And it's possible to mine with GPUs at home which is very convenient. But yeah altcoins are popular only for some time and then they disappear contrary to Bitcoin which will outlast every alt coin in existence. I would say alt coins are good for very quick earnings while Bitcoin is good for keeping as a store of value. Mine alt coins, sell during their hay-day, exchange to Bitcoin, profit 

Altcoins keep coming, being promised as the new chief cryprocurrency but they have one thing in common.
They're all pieces of shit that get pumped & dumped by a handful of big players before the hype dies down, people lose interest & then the next wannabe comes along.

Right now it's hard to predict what is going to happen. The chances that Bitcoin loses its dominance are small indeed.
And luckily we also start to see some development in the direction to not let Bitcoin fall behind.

But Bitcoin is getting old and some of the younger coins are built with stronger architecture (better block times, bigger or var-sized blocks, maybe anonymous..).
Right now the power of Bitcoin stays in the huge number of miners behind it. But that started to split. Bitcoin coins are forked from Bitcoin promising to fix this and that. Miners are lured in various directions. Some fear centralization and the Chinese miners. Some started giving up mining because it's not profitable enough. Will the hash power start declining? We don't know now. But that is too a possible future.

However, today Bitcoin has indeed no competition... yet.

I have seen a lot of people losing their money on altcoins. Even I have lost a small amount of my coins investing in these currencies. Unless you are very lucky, you will end up with a loss.

I don't think that other Cryptocurrencies will take over the place of bitcoin and it is surely does have a competition, it still be the number 1 Cryptocurrency and it will never be the same with some alt coin that already failed in the market like what you have said bitcoin will remain the only solid coin that can survive for the longest time.


yeah dude it could be possible to make a good money from alt coin trading and you it might even make you rich someday in the future I guess so well let's hope.

Your post proves you understand nothing about what Bitcoin is and nothing about what a Ponzi is. Bitcoin has some major flaws but being a Ponzi isn't one of them.

I'm sorry you must have missed the run up in 2013.

About as fast and furious as you can get.

I don't need to read a whitepaper to figure out how today's overpaid American education system of higher learning produced this non ponzi.

Speaking of ponzi's  

https://bitcoin.org/en/faq#is-bitcoin-a-ponzi-scheme

https://www.youtube.com/results?search_query=bitcoin+price

https://www.google.com/?gws_rd=ssl#q=bitcoin+price

Floats so freely.

 

My sig will hurt your brain as it describes just how free floating Bitcoin is.

Well, good thing that Hillary Clinton lost via the electoral college system leading to the coming assumption of The Donald to the White House. Anyway, yes we have the same thing in mind. Bitcoin remains to be the most formidable digital currency not just because it is the first though. It already withstand the test of time and its acceptance is getting to be worldwide and soon even aliens can also be using Bitcoin lol. So many coins claimed to be the next Bitcoin but many of them have been gone for good.

There are always competition in any section, but it is fine becouse the competition make the competitor grow up then make a better future. Bitcoin has competitor to, that called altcoins

Bitcoin obviously does have comp, by the reason of the alts that take market share.

This is good though it forces innovation all over

Bitcoin isn't a get rich quick scheme, a Ponzi, a scam or other such nonsense. It has its faults and its faults are many but it's not an outright attempt to screw the money out of people. Bitcoin is an attempt to allow people to exchange value between themselves without an outside third party overseeing the transaction.

https://bitcoin.org/bitcoin.pdf

If you wanted to call Bitcoin a failure then use the intended design and the words of its creator as your starting point. You're just blathering nonsense as fact.

Bitcoin fails to eliminate the need for trust hence the proliferation of exchanges. In its originally designed form it cannot be used for entire populations efficiently because it can't handle the massive volume of necessary transactions without redesign. Mediation of disputes is purposefully absent in Bitcoin and by design it forces outside parties that are no better than banks to handle transactions because of the need for mediation. Separate DROs, escrow services and multi sig transactions are attempting to "plug the holes" of bitcoins original design failure after the fact. Completely new designs like "Dark Wallet" are implementing these corrections. It's not possible for Bitcoin to be a stand-alone transfer of value because it has no intrinsic value like gold; therefore, it must be linked to a currency (for now) in order to give it a known and trusted value point. The biggest one, the granddaddy of all problems with bitcoins original design is simply that people fucking suck. They are lying, thieving, untrustworthy pieces of shit that need the set rules of a trusted third party to keep them from crapping all over each other.

Don't just spout out stupid shit. Prove your point with known facts. A good starting point is the whitepaper linked above.

I agree let's run an experiment.

Remove fiat from the equation completely.

Let's see how big of balls Bitcoin has.

The short answer is it doesn't have them.

As long as bitcoin is priced in fiat it will be it's competition.

The fact that it is priced in fiat shows that it was a get rich quick scheme.

Like an IPO without the stock exchange.

You are definitely right but I will say that still the attempts of some new coins to here are the threats to bitcoin and they are just diversify the focus on people from bitcoin. It is true that bitcoin is much powerful but still it need the attention from everyone so that everyone promote only bitcoin. I will also add that currently bitcoin is in competition and that competition is with dollar which is currently a global currency.

Okay, let's run a thought experiment

Imagine that all fiat currencies disappear one day. Say, aliens abduct all governments, banksters, and other such fraudsters as well as destroy all these currencies, both paper and digital, without a trace. And then they fly away leaving all other things as they were and granting every human being an unlimited access to Internet as a farewell present. What do you think will happen next?


To stop Bitcoin from being priced in fiat, you should first remove fiat, altogether

Bitcoin is utterly useless without the fiat currencies currently in place.

If it isn't then stop pricing it in fiat and see what happens.

I think you know what your competition is.

 

All this can be explained by a progressive Bitcoin currency, which in the future will only improve.

I think it's almost all bullshit that would vanish in seconds at the sign of some real trouble or bitcoin looking like it was ready to make a significant move upwards. it's largely play money and all they want out of it is more bitcoin.

all alts only exist because of bitcoin and almost all alt trading happens only because of it. bitcoin enables it and more bitcoin is the end goal too.

So what is your stance? I don't quite see where you are getting at. Is the alleged decrease of Bitcoin market share due to altcoins' offensive a mirage and not worth a dime, or is it for real after all? Personally, I think there might be some substance in such claims (i.e. some flashy and swanky altcoin eating away Bitcoin's market share) but mostly due to heavy hype and mass hysteria (see Ethercoin, or what's its name now), surely not on altcoins' own merits...

Needless to say that such "bites" at Bitcoin are no more than a gnat's sting

Bitcoin has no competition because this
cryptocurrency have strong enough and its hard to
make a coins like bitcoin. Bitcoin can use now like a
 fiat so no one cryptocurrency can be a competitor
of bitcoin.