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Bitcoin will not fail because of alt currencies.
Bitcoin will fail because the only thing it does is to help users break the law.
The only advantage bitcoin has against fiat is the users confidence that they don t have to pay taxes, and are excluded from money laundering laws.
China, India took actions against bitcoin.
Soon USA and Europe will take action.
Theoretically, bitcoin as a software will continue to exist, but the value in real money will cease to exist.
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