Something came out in my mind recently:
How would the price of Bitcoin change if there were no other cryptocurrency than Bitcoin?
Would Bitcoin develop faster without a competition?
Many people believe that if there is no alternative cryptocurrency, the price of Bitcoin will rise because it has no competition.
But, in my opinion, the price of Bitcoin is lower if it does not have a competition. Why? Because if there is no competition, the buyer's thinking is "should I buy this or not?" however if there is competition, the buyer's mind is "should I buy Bitcoin or these alts?"
As a result, not just Bitcoin but other altcoins will benefit. So, rather than being upset or sad because there is a competition, we can look at it in a positive way.
If Bitcoin would really be just that only on existence then all of the current cap that we do have now will really be poured solely to Bitcoin but well its no an assured thing because if there's one only existing then i doubt
that interest or adoption would really be that high and since there's no competition then i dont think for the entire cap to really increase it out that much. Also, it is really just that impossible to think to a market
on running solely, there would really be those individuals or companies that they would really be making their own coins for having at least on getting a piece of the pie or simply with marketshare.
We know that there's no such thing about being perfect. Lets say that we are only having Bitcoin but do you really think that people wont really be noticing about its flaws or disadvantages?
Pretty sure that there would really be those brilliant minds would really be making adjustments and making even more better. Progress and advancement is something
that is really that inevitable to happen.