Isn't Bitcoin dead already?
And at least the black market use case of bitcoin is really hard to replace with a better product. Not because Bitcoin is so great, but because it's politically and legally hard to develop a good product that works in a black market environment.
Adoption is still niche, there are technical issues to be taken care of and there are "existential" threats based on the uncertain legal implications but by and large both Bitcoin as "currency" and bitcoin as "p2p network" are doing ok as far as I'm concerned.
As an alternative investment, it's very much alive.