Quote from: The_Dark_Knight on January 04, 2017, 12:42:51 AM

Quote from: Sithara007 on January 03, 2017, 07:00:37 AM

Quote from: Senor.Bla on January 03, 2017, 06:49:08 AM

Of course Bitcoin has competitors, all the other cryptos compete against Bitcoin. Not very successful right now, but this can change any minute. Also Gold serves a different purpose, because most use it not as an investment to make money, but to diversify. If the stock market and Bitcoin go bonkers, then you still have some value not like people who lost it all.

None of the other altcoins have even one-hundredth of the user-base which Bitcoin is having right now. They can't rival Bitcoin in popularity, reach and technology. That is the main reason why their exchange rates are not rising right now.

The main reason the exchanges rates of other coins are not rising is because right now there is a massive pump in bitcoin and so everyone wants to get a piece of the action, while other coins cannot rival the popularity of bitcoin to say they cannot rival bitcoin in tech its incorrect since there are other coins with very interesting algorithms and features.

This might be the reason for the weaker coins but if you see the stronger coins with solid community behind it. They are going up in price along with bitcoin. I can understand the reason behind dumping coins that has not much of development or strong development team because it won't go up that fast the same way Bitcoin is going up in price. So better ride the uptrend of bitcoin that bagholding a non-uptrending altcoin.