I think you are right bitcoin do not have any competitors, as bitcoin is a bigger crypto currency and most people want to put their money in bitcoin and are using it as a currency while other coins are only used for trade,
You are right, now bitcoin is going to be a normal currency and a number of people have adopted it as a currency for their purchases, while all other currencies are for trade only their developers are not going to provide services with them.
Bitcoin has always been a currency. Same goes up for the investment aspect of Bitcoin. Bitcoin can be seen as a mult-purpose tool that offers features for the majority of the people. I say majority because there is no way to please all people.
There is a people is saying if bitcoin is not a currency?that's a very bad logic and the main purpose of bitcoin has become an alternative
currency. we don't know if in this time bitcoin will have multiple purposes.
Some are looking at it as a currency, some as an investment and some as a way of earning money. USD is used as a currency, we can invest with it and we can earn money from it. So Bitcoin is a currency.
Money is what money does. To be a currency Bitcoin must widely be used as a means of payment (just like the US dollar), that is, for buying and selling real goods. Right now, it is mostly used as a vehicle for speculation ("buy low sell high")...
In this way, it is no more than a speculative financial asset, but not a currency, by any means