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.
Ask the OP in return whether you think the only thing that exists without being forced to has value or not. Well, what I'm talking about is both material and nonmaterial values that we seek, and any tool that people seek must solve the problem they need. I can envision the growth and widespread adoption of bitcoin, but I wouldn't think it is unique because it creates a connection rather than just an asset for people to use who accumulate or use transactions simply.
If we admit it frankly, we always understand that the limitations of this field have been and are emerging, so the fact that it is increasingly innovated and upgraded is something we need to adapt to, not worship it in an absolute position.