Quote
Realistically does bitcoin have any competition ?
Nope. 
Topic: Realistically does bitcoin have any competition ? - page 2. (Read 6331 times)
I understand there are 600 other coins and that banks might be involved in trying to put in place there own mechanisms based on the blockchain but now that bitcoin has become as big as it has is there even a 10% chance that anything could replace bitcoin in the next few years.
Bitcoin is nowhere yet. Maybe have 10% chances to actually replace something . Forget about something to replace Bitcoin.
Bitcoin doesn't need to replace anything, well except Western Union. There are huge gaps in the today's financial markets that Bitcoin can easily fill and even improve some current solutions.
This being said, Bitcoin still has to improve a lot and earn a lot of trust in order to get a chance of doing so. The road is still long ahead, this is where I agree with you!
I understand there are 600 other coins and that banks might be involved in trying to put in place there own mechanisms based on the blockchain but now that bitcoin has become as big as it has is there even a 10% chance that anything could replace bitcoin in the next few years.
Bitcoin is nowhere yet. Maybe have 10% chances to actually replace something . Forget about something to replace Bitcoin.
Couple that with the fact there's been no major improvements to the protocol since 2009 or 2010
Do we really need any major changes?
Has anyone seen this GNU Taler thing? They say make pretty big claims taler.net
Never heard of it before now.
Sounds like yet another tokenised fiat payment system with some bells and whistles like every other supposed 'Bitcoin killer'. As ever it's not the same thing at all. Maybe a Ripple killer but I've no idea how Ripple works so wouldn't know.
Has anyone seen this GNU Taler thing? They say make pretty big claims taler.net
It has lots of competition, obviously, but within the digital world itself? I would say very little. It has dominated this space.
Mention me a single coin that is competition to Bitcoin? Not even the XT fork was any competition. I don't see a single reason to use anything but Bitcoin (and solving the discrepancies inside Bitcoin Core through BIPs). Maybe Ethereum, maybe, could have a solid reason to exist in the future, and it wouldn't still be competition, ETH and BTC would compliment each other.
Couple that with the fact there's been no major improvements to the protocol since 2009 or 2010
Do we really need any major changes?
Cash! 
Lol indeed. I miss the feeling to have money in my pocket. That's way I print paper wallets to got that feeling.
It has lots of competition, obviously, but within the digital world itself? I would say very little. It has dominated this space.
The powers that be seem to be finding great success is regulating Bitcoin to the fringes and making it impractical for use as a mainstream currency. Couple that with the fact there's been no major improvements to the protocol since 2009 or 2010, and you have a recipe for disaster.
If core can't agree on a single 1-line code edit, how can bitcoin possibly compete in this world of rapid technological change.
If core can't agree on a single 1-line code edit, how can bitcoin possibly compete in this world of rapid technological change.
I understand there are 600 other coins and that banks might be involved in trying to put in place there own mechanisms based on the blockchain but now that bitcoin has become as big as it has is there even a 10% chance that anything could replace bitcoin in the next few years.
I think it's much higher than a 10% chance. Yes, Bitcoin is a propelling proposition, given the limited supply and the amount of people willing to pay to have a share of the it, but you might be underestimating what the central banks and other centralized powers will do to take control as far as a global currency goes. If fiat currencies become unpopular, and people resort to gold and bitcoin, who knows what governments will do to control inflation.
I understand there are 600 other coins and that banks might be involved in trying to put in place there own mechanisms based on the blockchain but now that bitcoin has become as big as it has is there even a 10% chance that anything could replace bitcoin in the next few years.
As much as I know the original rival of the btc is the paper money or the cash and thats it I dont think it is a big deal really.
I liked this blog post http://tpbit.blogspot.ca/2015/09/the-dawn-of-great-crypto-extinction-and.html ... Copy-coins themselves aren't much competition although some of them do have community (Dogecoin) and good dev teams / adoption (Litecoin). Crypto2.0 coins do offer more competition like Ethereum and Ripple which go beyond the original code base.
Isn't Ripple supposed to be what Monero was based off of? If I'm not mistaken I remember reading that Ripple was supposed to be the first of the "cryptonote" coins to come out. I haven't even done much research on the alts because I'm lazy and want to stick to talking about something that I know a little more about like bitcoin in general.
Nop.
I liked this blog post http://tpbit.blogspot.ca/2015/09/the-dawn-of-great-crypto-extinction-and.html ... Copy-coins themselves aren't much competition although some of them do have community (Dogecoin) and good dev teams / adoption (Litecoin). Crypto2.0 coins do offer more competition like Ethereum and Ripple which go beyond the original code base.
Isn't Ripple supposed to be what Monero was based off of? If I'm not mistaken I remember reading that Ripple was supposed to be the first of the "cryptonote" coins to come out. I haven't even done much research on the alts because I'm lazy and want to stick to talking about something that I know a little more about like bitcoin in general.
Any platform that is a clone of Bitcoin with only a few small tweaks, can't ever really take a serious market share away from Bitcoin.
completely disagree. btc got alot right, why change the tried and tested, so its a good place to start.
many seem to think here original code written after btc automatically means better then btc...yet to see any that's an improvement on btc.
I liked this blog post http://tpbit.blogspot.ca/2015/09/the-dawn-of-great-crypto-extinction-and.html ... Copy-coins themselves aren't much competition although some of them do have community (Dogecoin) and good dev teams / adoption (Litecoin). Crypto2.0 coins do offer more competition like Ethereum and Ripple which go beyond the original code base.
I do not think that other altcoin have any chance to remove bitcoin and become in its place because these coins are only a copy from the original thing with is bitcoin
And I think banks can not control bitcoin because it is decentralized
And I think banks can not control bitcoin because it is decentralized
Any platform that is a clone of Bitcoin with only a few small tweaks, can't ever really take a serious market share away from Bitcoin.
I agree, the direct clones of bitcoin aren't going to make any waves, but the innovative platforms might make a difference. 
I understand there are 600 other coins and that banks might be involved in trying to put in place there own mechanisms based on the blockchain but now that bitcoin has become as big as it has is there even a 10% chance that anything could replace bitcoin in the next few years.
If you talk about future if any government issues their own crypto,bitcoin will face some serious competition but that is not possible to happen in this decade so I dont see any competition for btc for next 10-15 yearsCreating own cryptocurrency by any bank or Government is not a problem for bitcoin. The real competitor for bitcoin would be current fiats. Bitcoin needs to out perform them to be widely accepted and to be proffered one. When every service available for bitcoin, it means bitcoin defeated all it's competitors.
Jump to: