Bitcoin has been steadily losing market cap dominance, from 90%+ just two years ago to ~80% today.
I could release mysmellyarsecoin tomorrow, print 20 million tokens, hype the shit out of it and put ten up for sale. Hey presto, I've just taken 10% of Bitcoin's market cap.
The coins that have taken Bitcoin's market cap have precisely zero use. That's when they're not forking all over the place.
The main use for all of it is still speculation by a long, long way. Bitcoin is the only one with a sliver of utility. Once that sliver grows, and there really isn't anything else with any utility, then the speculation will recede.
I want to support this arguments. These altcoins were not created as bitcoin upgrade or to innovate crypocurrency. Most of them are simply pump and dump scheme overhyped to seems like 'next big thing'.
News altcoin can possibly more advanced in technical field - for now, because bitcoin can be upgraded. But then never beat one and the most important attribute of BTC - near perfect initial distribution.
Bitcoin was created and was worthless, people noticed is potential and make it valuable. Altcoins are created because their developers want to cut corners and earn fast money.
I am agree with you, people's oppinion is very important for bitcoin value. Good oppinion about bitcoin will make more people come's to buy bitcoin and then effected the bitcoin prise. Bitcoin existing is depend of people whos use and support it. And my personal oppinion is the people in this forum has helped bitcoin to stay exist.