I really think altcoins are a bubble just like dotcom bubble.
You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.
I believe altcoins are just like that.most of them are just fancy scams looking to get money.
And when that bubble bursts bitcoin will be shaked but will stand its ground.
dotcom bubble paved the way for real companies with a plan to grow.
And there came Amazon,Google,Apple.
Bitcoin will be very very valuable.
Right or wrong I am seeing pre dotcom bubble Amazon in bitcoin. the price of a Amazon share was 108 dollars, after the burst it was 8 dollars.Look at what it had become.
I know this is not a great comparison but this is my honest thoughts and belief in bitcoin.
While I definitely agree that most altcoins have nothing to add to what bitcoin already has, I can't agree that bitcoin is much different from the rest of the pack. If you take any of the major altcoins like dash or litecoin, they can easily substitute bitcoin and you won't see any particular difference in general. Well, strictly speaking, there will be a difference after all, and to the better in terms of transaction speeds and costs. All in all, it is more like first come first served, but apart from that, there is nothing in bitcoin which other coins don't have.