None of the competing cryptocurrencies have yet to overtake Bitcoin as the alpha-currency, which can be seen rocking its chunky blockchains as it dominates the online black markets. That’s for a variety of reasons, but mainly because people trust the individuals already running the nodes. As aforementioned, the people controlling the Bitcoin nodes have a proven history of immunity to takeovers, and that lets people know that their investments are at least semi-secure. With the other currencies, they are so volatile — and in some cases, so new — that most seem to still prefer Bitcoin. Personally, I go for the dollar.
In the current marketplace of currencies, this isn’t bound to change any time soon unless a competitor takes the bold step and allows for the unthinkable: insurance and regulation. The reason why so many consider Bitcoin to be dead, is after the series of infamous lootings and scandals involving Bitcoin exchanges,
such as Japan’s Mt Gox — originally an online exchange meant for buying and selling
Magic: The Gathering trading cards — people lost trust in the security of their funds.