"No, money doesn't need competition" BS - people think this guy has insight? we have a Fiat monopoly we need competition, if there is something better than Fiat i want it, I want it to thrive in a free market as proof, if there is something better than Bitcoin I want that too.
But altcoins so far have not proved to be anything but Bitcoin clones with little innovation of sound economics behind them.
My point was that the world works better using only ONE form of money. Innovation of the money technology != competition.
Altcoins in theory should only exist as a lab for innovation. They have been perverted as pump & dump scheme because of the necessity for them to create their own currency. Now that sidechains exist we remove this issue and return to the essence of altchains : a complementary chain to Bitcoin's economy that serves as a testing ground for new features.