Topic: Realistically does bitcoin have any competition ? - page 8. (Read 6314 times)
no i believe none of those other coins offers something genuinely new like bitcoin was since its begining, they offer something valuable in some cases, but it can still be implemented in the future if consensus is reached, they are not groundbreaking changes
It has no competition right now, and I do not see how that could change. But certainly it could change.
Just remember msn messenger or Internet explorer. There was a time they had "no realistic competition".
Just remember msn messenger or Internet explorer. There was a time they had "no realistic competition".
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.
There's always a competition between currencies in history. Digital currencies have no difference. Remember Satoshi's words about Bitcoin's value:
"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
Very large transaction volume = Bitcoin win the competition
No volume = another currency win the competition
The startups are disrupting markets including: Cloud Storage; Smart Contracts; Social Networking; Anti-Conterfeiting; Governance; Digital Identity; Supply Chain; Art & Ownership; Prediction Markets; and Internet of Things.
The companies are: Applied Blockchain, Augur (@AugurProject), Bitnation (@MyBitNation), Bitproof.io (@bitproofio), BlockVerify (@BlockVerify), Chimera, Colu (@coluplatform), Etherparty (@etherparty_io), everledger (@everledgerio), Filament (@FilamentHQ), Filecoin (@MineFilecoin), FollowMyVote (@FollowMyVote), Gems (@getgemsorg), Monegraph (@Monegraph), Onename (@onename), Otonomos (@Otonomos), ShoCard (@getShoCard), Storj (@storjproject), Swarm (@swarmfund), Synereo (@Synereo) thingchain (@thingchain), Tierion (@Tierion), Tradle (@tradles), Trustatom (@trustatom), and Verisart (@verisart).
Nice list, didn't know some of these.
Everyone is recommending Monero and Ethereum, Monero being ~0.50 US cents while Ethereum being ~0.80 US cents.
I think everyone is forgetting Litecoin. 2 USD per coin. Monero and Ethereum both have potential, but litecoin is much more per coin than both Eth and Monero.
I think everyone is forgetting Litecoin. 2 USD per coin. Monero and Ethereum both have potential, but litecoin is much more per coin than both Eth and Monero.
I think the price per coin is irrelevant.
What if I made a Bitcoin fork that had a limit of only 10 coins? One coin would probably be worth a lot, but the overall market cap low.
there's plently of other coins similar to bitcoin, but they all lack the support bitcoin has, theres barely any people using these other coins, and theyre being pumped and dumped till they die 
Right now Bitcoin is not having any competition. I also believe that no competition from inside of the crypto world has to be feared. I'm way more concerned about the financial institutions who are really putting in lots of effort and money in Blockchain technology. They have the financial power, the influence in politics, media and a huge customer base to manipulate to use their own coming crypto schemes.
Also put into things to be feared that might actually interferer with bitcoin's growth: regulations and the governments of different countries. Crypto-crypto competition won't exist as bitcoin is proven to be the best among them, that's why we label other coins as an "altcoin" because it is an alternative of bitcoin, sometimes heavily-based on bitcoin's functionality and design. What I'm worried about is the governments imposing regulations and restrictions on the use of bitcoin to make it hard for people to steer it towards its growth. Banks are fine, they are putting too much money on the technology (blockchain) and we know that a centralized blockchain won't work out well.
I completely agree with you. Governments can issue laws and regulate so much that it might be really difficult to use Bitcoin.
Regarding the banks it might not work out with Blockchain technology as we know and define it. But this doesn't mean they can not figure out way to use that technololy to their advantage. And I believe they will. Furthemore they will brainwash, influence the average joe and the politicians to continue using their schemes.They have done this last 100 years.Banking will change yes. But I'm really concerned that Bitcoin might not disrupt them.
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 no, Because Bitcoin has become something like Dollar, Which has placed a value in users mind. But with a little different way as we know because of mining.
This will have never chance to be true. Not because bitcoin is different or better than the others (maybe it is). Nor because it is the first in market and as such have slot and open this kind of market. But because behind it exist a technology, a disruptive technology, which have only him and will change to many others actually in market and will do story. This technology will support always bitcoin as a currency and bitcoin will be always a winner.
I would say only possibly Ethereum at the moment and those are only expectations since the Ethereum devs still have to deliver the promised. But Ethereum does have a lot of hype around itself even in the outside world which no other alt does have at the moment. Just look at the last 10 days and the news articles and how many banks are actually looking into Bitcoin and Ethereum.
On the other side, some may argue that Ethereum and Bitcoin are not competition at all since the main use of ETH are smart contracts. So in a essence, these two are complementing each other.
On the other side, some may argue that Ethereum and Bitcoin are not competition at all since the main use of ETH are smart contracts. So in a essence, these two are complementing each other.
Ethereum can be a possible competitor, but hype alone won't take the cut and as you said, the devs should deliver first before people could actually take it as a serious alternative to bitcoin.
-snip-
On the other side, some may argue that Ethereum and Bitcoin are not competition at all since the main use of ETH are smart contracts. So in a essence, these two are complementing each other.
On the other side, some may argue that Ethereum and Bitcoin are not competition at all since the main use of ETH are smart contracts. So in a essence, these two are complementing each other.
Yep, ETH can be used ideally in smart contracts and not as a mainstream currency as to what bitcoin is intended to be. That kinda explains why there wouldn't be no tight competition between the two.
Deliver and deliver a lot. They have promised some amazing things and they better make them true. Then again they do have a very capable de team, there shouldn't be problems here, but you really never know.
As for them competing or complementing each other, it depends. Bitcoin has a currency primacy position at the moment and holds it tight. But no doubt that people can turn to Ethereum or any other currency if Bitcoin messes something up with centralization, development, or etc.. and it's not capable to do its job efficiently.
Right now Bitcoin is not having any competition. I also believe that no competition from inside of the crypto world has to be feared. I'm way more concerned about the financial institutions who are really putting in lots of effort and money in Blockchain technology. They have the financial power, the influence in politics, media and a huge customer base to manipulate to use their own coming crypto schemes.
Also put into things to be feared that might actually interferer with bitcoin's growth: regulations and the governments of different countries. Crypto-crypto competition won't exist as bitcoin is proven to be the best among them, that's why we label other coins as an "altcoin" because it is an alternative of bitcoin, sometimes heavily-based on bitcoin's functionality and design. What I'm worried about is the governments imposing regulations and restrictions on the use of bitcoin to make it hard for people to steer it towards its growth. Banks are fine, they are putting too much money on the technology (blockchain) and we know that a centralized blockchain won't work out well.
Right now Bitcoin is not having any competition. I also believe that no competition from inside of the crypto world has to be feared. I'm way more concerned about the financial institutions who are really putting in lots of effort and money in Blockchain technology. They have the financial power, the influence in politics, media and a huge customer base to manipulate to use their own coming crypto schemes.
I still hold on to my belief that if someday bitcoin fails for that matter, it will bring down the trust people are having towards cryptocurrencies. That includes all the other altcoins.
Possibly not. There are lots of companies that accepts Bitcoin as a payment method and not most of the alt coins. Adoption is one of the factor that influence users to use them. There isn't much argument to most of the altcoins ie blocktime, anonymity. Bitcoin can achieve most of those easily. The exchange rate is much more volatile than Bitcoin too.
The startups are disrupting markets including: Cloud Storage; Smart Contracts; Social Networking; Anti-Conterfeiting; Governance; Digital Identity; Supply Chain; Art & Ownership; Prediction Markets; and Internet of Things.
The companies are: Applied Blockchain, Augur (@AugurProject), Bitnation (@MyBitNation), Bitproof.io (@bitproofio), BlockVerify (@BlockVerify), Chimera, Colu (@coluplatform), Etherparty (@etherparty_io), everledger (@everledgerio), Filament (@FilamentHQ), Filecoin (@MineFilecoin), FollowMyVote (@FollowMyVote), Gems (@getgemsorg), Monegraph (@Monegraph), Onename (@onename), Otonomos (@Otonomos), ShoCard (@getShoCard), Storj (@storjproject), Swarm (@swarmfund), Synereo (@Synereo) thingchain (@thingchain), Tierion (@Tierion), Tradle (@tradles), Trustatom (@trustatom), and Verisart (@verisart).
Everyone is recommending Monero and Ethereum, Monero being ~0.50 US cents while Ethereum being ~0.80 US cents.
I think everyone is forgetting Litecoin. 2 USD per coin. Monero and Ethereum both have potential, but litecoin is much more per coin than both Eth and Monero.
I think everyone is forgetting Litecoin. 2 USD per coin. Monero and Ethereum both have potential, but litecoin is much more per coin than both Eth and Monero.
monero and litecoin are pure shit..why? they can only exist in the crypto space..no person outside this dark circle can or will use these coins. litecoin isnt meant to be for the average person..from the lack of their development u can see they only care about trading the coin and not expanding user base..tyhe coin doesnt even have its own ios wallet.
There is no real competitors at the moment, but it will change soon. Before altcoins were created by a lonely geek in mom's basement, but now big players getting interest in blockchain technologies. States, big banks, big tech corporations. Using their huge financial and human resources, they can create really good altcoins and using their huge customer base they can make them popular. And they can move much faster than bitcoin, because they don't have bitcoin's governance problems. 
Even relatively small competitors, such as Russian Qiwi's rublecoins, may overtake bitcoin.
Even relatively small competitors, such as Russian Qiwi's rublecoins, may overtake bitcoin. 
Everyone is recommending Monero and Ethereum, Monero being ~0.50 US cents while Ethereum being ~0.80 US cents.
I think everyone is forgetting Litecoin. 2 USD per coin. Monero and Ethereum both have potential, but litecoin is much more per coin than both Eth and Monero.
I think everyone is forgetting Litecoin. 2 USD per coin. Monero and Ethereum both have potential, but litecoin is much more per coin than both Eth and Monero.
I think Bitcoin doesn't has a competitor right now, cause they are different|they're not same thing.
I would say only possibly Ethereum at the moment and those are only expectations since the Ethereum devs still have to deliver the promised. But Ethereum does have a lot of hype around itself even in the outside world which no other alt does have at the moment. Just look at the last 10 days and the news articles and how many banks are actually looking into Bitcoin and Ethereum.
On the other side, some may argue that Ethereum and Bitcoin are not competition at all since the main use of ETH are smart contracts. So in a essence, these two are complementing each other.
On the other side, some may argue that Ethereum and Bitcoin are not competition at all since the main use of ETH are smart contracts. So in a essence, these two are complementing each other.
Ethereum can be a possible competitor, but hype alone won't take the cut and as you said, the devs should deliver first before people could actually take it as a serious alternative to bitcoin.
-snip-
On the other side, some may argue that Ethereum and Bitcoin are not competition at all since the main use of ETH are smart contracts. So in a essence, these two are complementing each other.
On the other side, some may argue that Ethereum and Bitcoin are not competition at all since the main use of ETH are smart contracts. So in a essence, these two are complementing each other.
Yep, ETH can be used ideally in smart contracts and not as a mainstream currency as to what bitcoin is intended to be. That kinda explains why there wouldn't be no tight competition between the two.
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