I am hoping these sets of questions don't start a prolonged debate but rather a constructive discussion with insight from people who have been following the BitCoin/alt. coin space for a while now.
Since BitCoin has been holding steady and is gaining more acceptance every day I believe at least for now the idea of an alternative currency within traditional markets are here to stay.
However, I want to lay out some scenarios and see how other people feel about them:
- Scenario One (1): BitCoin currency increases in value while other alternative currencies decrease in value
- In this scenario I am envisioning the following:
- BitCoin increases in widespread acceptance/usage while other alternative coins are “pushed to the wayside” for lack of a better term. Because of this, mining in the alternative space becomes a waste of time as only the higher end miners and BitCoin currency traders make money.
- Scenario Two (2): BitCoin currency is overtaken by another currency.
- In this scenario I am envisioning the following:
- Another alternative or set of alternative currencies proves to be a “better” crypto currency due to a wide range of factors, whether it may be a better algorithm or the incorporation of other much needed features, etc.
- Scenario Three (3): BitCoin currency shares space with a range of alternative currencies
- In this scenario I am envisioning the following:
- BitCoin becomes “gold” and other crypto-currencies become like the other rare metals. For example, LiteCoin as it stands now becomes the crypto-currency silver, etc. etc.
- Also of note that within this scenario relative trading from BitCoin to these alternative currencies remain where they are now.
Now, here is what I am wondering:
- Which is the most likely scenario above?
- Investors I have interacted with seem to think #1 is most likely to happen. Does anyone see why?
Thank you for your time.
Looking forward to an interesting discussion.