if we consider bitcoin currency is the dollar I think altcoin can be regarded as another currency of another country, it is the cool thing they remain connected to each other and exchange between them is good
I agree with this, and so altcoin is a competitor of bitcoin, and so the developers of bitcoin makes more improvement of it
because they might be beaten by altcoins, and so we can see the real value of bitcoin from its competitors. But for this altcoin owners needs to work hard to be a real competitor for bitcoin
I just don't see how altcoins could even beat bitcoin while the majority of them actually rarely being used as an ordinary currency to become trading tools. And also, almost all of altcoins are now kept using bitcoin as their main currency to determine their value in almost every exchanger.
The most popular altcoin as for now I assume Ethereum currently have $1,209,273,138 and not even 1/4 of bitcoin's market cap.
From my opinion, that altcoin is not competitors for bitcoin, altcoin and bitcoin may work together to make cryptocurrency world even popular.