This article was first published on: Latest Crypto News --

is bitcoin going to fade away

Bitcoin was first ‘mined’ in 2009 and since then it has gone through a roller-coaster ride of developments and price swings. More importantly, the cryptocurrency world has rapidly expanded to include numerous other currencies with various functions.

Some of these currencies are in direct competition with Bitcoin for the use case as a store of value, and for others the competition is a little more subtle. In this article, we will go through the different competitive pressures on Bitcoin and examine the different reasons Bitcoin may end up fading away.

Bitcoin vs. Fiat

There are two major competitive areas for Bitcoin. It has to both prove itself to be better than fiat currencies and to be the best cryptocurrency. Fiat currencies are governed by major institutions within each country and have the advantage of being required in order to pay taxes to said instituti...

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