That's true
In a financial ecosystem completely removed from Bitcoin it's growth might behave similarly. Maybe on a space station...
But in the world that most people live in Bitcoin pretty well owns its niche.
Also true, but for now it's a very small niche, which is why I said this in my Solution to the Bitcoin Foundation post:
So the solution is simply to promote at least one other cryptocurrency in the market (ideally there might be 2 for better distribution), and do it before Bitcoin gets a stronger foothold. The timing of TBF announcement is fantastic, because it leaves room in Bitcoin's life for competition to check it.
Your new blockchain would have to distinguish itself somehow. By reward structure, inflation rate, hashing algo... Etc. Or else simply get eaten by the great red spot on Jupiter that is Bitcoin.
Yes, and LTC and NVC do distinguish themselves. LTC substantially reduces block confirmation time among other things, and NVC adds proof-of-stake to proof-of-work for protection from 51% attacks. But my favorite difference for these two chains (
which are gaining traction) are simply that they are not Bitcoin. That allows for two important safety measures: an outlet to express dissatisfaction with circumstances surrounding Bitcoin; and a technical and economic backup if a problem arises with Bitcoin like the unforseen chain fork we recently experienced.