Topic: Realistically does bitcoin have any competition ? - page 7. (Read 6314 times)

monero its like litecoin and doge coin to be sable to 10 dollars into the next 2 years but not replacing 10% the btc

Monero. It's had its day. Daily volume $10,878.

Can somebody please summarize the main difference between Monero and Dash? These are pretty much 2 main stealth competitors, right? And why should Monero be so much superior? I see people mentioning Monero a lot.

Thanks

Probably not. Here's the full list of known altcoins, with market caps and trading volume. Other than Bitcoin, none of them could handle a $100K sell without crashing the market.

Some of those coins with large market caps started with a big cut for insiders, so the "market cap" is inflated. Like Paycoin. It's still on the list, but you'll have to scroll down a long way.  Remember their "guaranteed $20 floor"?  Current price is $0.016583.

Monero should rise in time to become the yang to Bitcoin's yin.  
  
There is a need in every 'game' for both public and private moves.  
  
It would be silly to think global finance won't follow the same rules.  
  

No. No other coin is anywhere near it and every corporate and government 'blockchain' project is basically a completely different beast.

Overall though it's still a delicate time. Bitcoin's flaws are becoming more apparent by the day and it's still small enough to be usurped by something that addresses all of these issues straight out of the box. It's far from being out of the woods yet.

I think that altcoins have its place. What would all trade exchanges do without them? 

It is always good to have an alternative to Bitcoin that is of the same kind (i.e digital currency). I agree that probably they will never be used to buy and sell directly ... but still there is an use if only educational in trading and being something like a "backup" for Bitcoin.

I tend to agree with all that you have written. It's very important to continue improving Bitcoin. It's not like Bitcoin is already as big as Facebook for example, has a share of users as Facebook and it's developed as Facebook is.

We are still in the beginnings of this crypto project in general. And having first mover advantage doesn't make you a winner for life. On contrary, being the leader means that you need to continue developing since everybody wants your skin. It's as simple as that.

altcoins will remain a bit of a joke as long as bitcoin continues to improve itself, maybe one day when bitcoin is processing 50K TPS with a healthy distributed full node count there won't be any more major improvements to be had, but until that day comes, it's important for bitcoin to stay ahead of the curve with continued dev. right now there is this scaling problem, if an altcoin clams to solve it... bitcoin better be not far behind. also look at ETH a coin with a built in scripting language, bitcoin was originally designed to have the same capability, but was left out because there wasn't time to make damn sure it wouldn't expose bitcoin to a security risk. Maybe it would be a good idea to get this feature up and running soon?  MySpace could have changed its itself to compete with facebook, but it didn't so it died. this crypto currency war thing isn't much different. If bitcoin thinks it's the biggest strongest and therefore unsinkable no matter what decisions it makes, it will most definitely suffer the same faith as the titanic.

I noticed that all the reasons why you think that the financial institutions are going to "manipulate" the blockchain in some way, are all the reasons why bitcoin is still powerful today.  Bitconers have financial power because of the price of a btc/usd, we already have a pretty large customer base as of right now (I know it's not as big as the banks), and the media are still talking about us and politics are influenced because of us because of the possible use of using the blockchain for voting systems.  Idk, I have a feeling the bitcoin community has a larger say so than what we give our selves credit for.  If the banks are going to try and use the blockchain for their own online "coin" they copy, regular people out there would have no idea what they are trying to do and probably pull out of that bank.

As for potential competitors for bitcoin with other altcoins, there is another possibility for this... but that's not entirely a bad thing.  Monero offers more security and fungibility which could become a thing that governments and big businesses use because of the anonymity and the amount of security that comes from that, but also allows people to view the transactions with a view key that allows taxing, there fore, mass adoption.

And it's not like one coin would "take over" another coin for mass adoption... I believe that there can be multiple crypto currencies out there that offer different capabilities.  Monero for security, maybe litecoin for fast(er) everyday transactions (?), and bitcoin for the standard currency that pretty much everyone will use... Not to say that there won't be another coin in the next year or two that offers something completely different and then that will be on that list as well.

Just my two cents though

there always is going to be competition for any technology that is good and new. but as far as bitcoin and all the other altcoins are concerned i don't see any near competition going on.

i mean there are a couple of altcoins that are considered TOP Altcoins but they are week competitors for bitcoin.

 Fortunetly bitcoin has competition, Bitshares is implementating graphen technology and is creating his network of exchanges,there are some other coming,btc can be still very good if will be no more surprises like last xt fork
Btc network must improve security and decantrelised exchanges needed

This is a really cool image, it helps to understand it all at a glance.

If you want to get the maximum effect of monetary deflation, you would only invest in one cryptocurrency that is most mature and widely accepted. That's the reason other coins, no matter how technology advanced, are monetarily disadvantaged, since they are essentially inflation in cryptocurrency world

Altcoins can't really compete with Bitcoin. The head-start and network effect of Bitcoin is too large at this point. Improvements in altcoins could for the most part, theoretically, be implemented into Bitcoin.

Not yet, unless a new development team develops a completely innovative coin that makes bitcoin useless, then no bitcoin doesn't have any competition. In order for a coin to compete with bitcoin it needs innovative technology and a huge marketing budget.

Not so sure about the bold part, knowing that at the time of this writing, bitcoin is mainly driven by whales and shorters/long-term traders and not the actual masses. Also, governments and banks are keeping a keen sense of watching things develop on bitcoin, and they might interfere sooner or later seeing how bitcoin's concept could destroy them in the future. Sure, bitcoin brought many firsts in this world, economically, politically and technologically, but that doesn't mean that it will remain robust and strong forever. In an ecosystem full of manipulators and power-hungry creatures, it is not possible to have continuous growth even in a slow pace.

There's no reason to use Monero given that JoinMarket exists.

Bitcoin's competition is not with other currencies and coins that came after but the currency which came before it, which is fiat and so far fiat is winning but you can say that it had an early start but if bitcoin can manage to keep it's head steady for some more  years it'll definitely become the second currency used worldwide.

Yes, bitcoin has competition. I think it's probably in the most competitive emerging technology space since the early 90's and the days of early internet.

And unless bitcoin can get its development house (aka core dev team) in order it will be left behind in the dust.