bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..
Where is the competition with alt coins? Any altcoin which is yet really competing with
BTC? Sure some use alternate algorithms and some of them are really promising. But I still don't see a real competition.
//alex
In terms of adoption no altcoin is even close to compete with bitcoin, and there is no competition either when it comes to the amount of money the bitcoin economy moves, but in terms of technology there are some altcoins with very interesting characteristics that bitcoin currently does not posses.