Topic: Bitcoin has no competition - page 98. (Read 43199 times)

For now it looks like there is no competition, and I think that will stay forever like that. Thou I think also that there is a lot of space, or at least there will be a lot of space for some other alt coins. World is too big, I`m suspicious about thought that bitcoin can handle all the world, and all living people.
If goal of blockchain is to make life easier, and to put in order this "broken" monetary policy, then for sure bitcoin will need all the help he can get. In that I count all this trading with altcoins, for what bitcoin is needed. In many ways, this altcoins are pushing bitcoin forward.
So I agree bitcoin will be no. 1, for me better question is how close can come first behind bitcoin?

All the experiments with any altcoins is always leading to development of bitcoin ecosystem as bitcoin is always open to have enhancements.

In my opinion, alt coins are just here to make bitcoin to have new features after a testing phase within them. Yes, they are contributing to development of bitcoin directly and most of them indirectly. Not just ETH, almost every altcoin might get dumped when bitcoin scales new heights.

Experiments are always good..! It always can bring new idea, but Bitcoin project is a bit more far that can be some Ethereum or other altcoin.. talking for pumping price is always good for speculants.. Anyway at the end ETH will go down. Sorry, but that is the true!

Some big companies are going to experiment on the Etheruem block chains, one example is the Banco Satander. So bitcoin has competition.

True those alternative alts are just somehow dependent to bitcoin and  it would surely not  surpassed bitcoin on the future but  well see since we dont know the future. In face  those altcoin would  somehow developed and would not depend  on bitcoin anymore with that situation bitcoin would possibly have a competition.

That is just an alternative currency and a lot of their users is a trader and finally, if we get a profit in there and the ending they're wanna for exchanging their coin into bitcoin... they are wanna for using another coin like monero,LTC and ETH is caused by bitcoin.

The thing is, even though that what you said is the most logical thing for what the devs should do (since there are a good amount of devs working on Bitcoin Core), it probably won't happen primarily because there is no direct way to govern this at all.  What seems to be happening, at least to me, is that while Bitcoin might be stronger in every since of the word as it stands right now; it's harder and harder to innovate and change Bitcoin... Why? Because there is no direct way to govern and you will always get resistance from a good portion of the devs because they feel that their idea is better, and so there needs to be a vote.  Should you give miners the ability to vote?  Well, that doesn't really make much since because miners usually don't have such a strong incentive to do anything really to how Bitcoin functions, just as long as they can make money and profit.  There is just no real way to govern and make a community decision that will make the overall majority happy and not want to fork.

This gets us into the territory of altcoins, and people doing what they want to do on their own coin.  Now, let's just assume Bitcoin adds Mimblewimble in some 2nd chain thing, and now let's just say 30-35% of people using Bitcoin as of now are pissed because the governments are pissed of a more anon solution to Bitcoin which makes it harder to track certain payments (that's if Mimblewimble really works).  Those people really want Bitcoin to be a public form of transacting money, and so they create, let's say Bitcoin Classic (heheh)...

Point being is that it's kind of ridiculous to say that everyone will just stay with Bitcoin, because Bitcoin is first and it's the only coin that really matters.  Sure, Bitcoin was first, but that doesn't mean that it won't fail do to some flaw in code or governance problem.  Let's all remember that Bitcoin is still a relatively new and experimental payment system, and no matter how much people think it's already some kind of "gold standard" that will never fail, it's not and there's still a possibility.

Bitcoin will be the king of crypto currencies for years to come,but there will be certainly space for other good coins in the market, coins like Litecoin, monero and Etherum has a lot of users and have a maket value, but i dont think so it will cross bitcoin for now,but anything is possible in the future ,you never know life is unpredictable.

Bitcoin itself is constantly improving. Transaction capacity will be increased in a much better way than via a pure blocksize increase shortly. There is also consistent improvement on the security side and new features that are attractive for 2nd layer technology are added as well. Bitcoin has the biggest and most active development community behind it. In my view it's much more likely that useful features of altcoins will be integrated into Bitcoin after they have passed the "beta test" via altcoin release, rather than that an altcoin will overturn Bitcoin's dominant position because of an innovative feature.

Personally I can't see that Bitcoin development is stagnating. However I agree that we need significant privacy enhancements as soon as possible, because there is an imminent danger of blacklisting coins and destroying fungibility due to ludicrous AML policies.

ya.ya.yo!

Even though Bitcoin may have no competition, it doesn't mean the BlockChain has no competition.

Bitcoin is the only cryptocurrency that can attract a lot of public attention and no one can compete in this terms so there is no competition.

The "volume" a coin gets doesn't concur that it is automatically better by any means necessary for whatever function that the coin should be doing.  You could have an "out house" in the back yard, and instead of being being built with lumber it is made out of solid gold, or you could have a normal toilet that flushes and connects to a sewage line... which is better? Well the out house is probably more expensive and people really like gold, sooo....

Weird analogies aside, I think you can still see where I'm getting at though.  There are definitely other coins out there that are improving on Bitcoins current flaws like block sizes, fungibility, other properties on a blockchain, etc. For the development on Bitcoin to remain stagnant just because it is the most valued currently doesn't mean that is a good thing.  

Side chains could work, but still...I mean I totally understand that 99.9% of all altcoins created are basically pre hyped pump and dump coins, but there are still some out there that are perfectly legitimate and are trying to create something unique for the sake of a need for it. Sitting back and saying, "Ah, yeah well... We could easily just put that on a side chain" and not actually do it or don't feel the urge too isn't doing any body any good.

BTC has competition but it seem that it isn't good enough at the moment and BTC will remain the leader for a pretty long time as it seems.
BTC volume is much higher than the other currencies.

It has competition but the competition always seems second rate.  There are a few great competitors but the adoption of those is low compared to bitcoin I believe.

I dont thing bitcoin has no competittion, if you are saying as cryptocurrency maybe you are right but in form of currency and investment, bitcoin has lots of competion and many of them beats bitcoin with the number of base users.  This is one of the problem why not all people are jumping to bitcoin as investment or currency because there are far more stuff that is more precious than bitcoin.

I agree with this. At the moment, the bitcoin has most of the users. The price will rise due to mass adoption.

Bitcoin has no competition and that is because there are allot of cryptocurrencies but no one used as bitcoin there are allot can i tell you but there is not just as one as the bitcoin or the same value off course.

When it comes to marketcap and price, bitcoin may have no competition but when it comes to mass adoption there are few that may compete bitcoin such as eth and monero.  When later these coins can get to have the chance to get to be used by certain orgs which will also help its demand, it may also read to a substantial value for each.

The bitcoin has no competition because there is no similar cryptocurrencie that has the same value as the bitcoin only some that are really low at the point and just one but that value is redicules in comparing with the bitcoin so he has no competition.

basically any altcoin that has the claim to be able to replace bitcoin should first stick around for at least a couple of years and keep the trade volume as high as day one to even be considered as a competition.

this is why i never take any of these new coins seriously when they start claiming they are good and will replace bitcoin because they all say this today and in a couple of months they die and disappear.