Yes there will be competitive internet currencies to BitCoin. In fact they already exist.
Your logic would say. "Don't buy stock in Apple, they may have competitiors that will take their market share and thus lowering their value."
With Bitcoin, there is no centralized power structure in place. You have the power to fire BitCoin at anytime and go elsewhere for trade. Therefore, if another option is out there that treats your capital better, you can and should fire bitcoin and become apart of another network.
To the contrary, would you rather Bitcoin be a monopoly through force? We can just rely on the Fed for that?
The Red Coats are coming!
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