Bitcoin has been doing amazingly well. I definitely regret not investing, and I justified it due to the threat of competing cryptocurriencies, specifically ones that a government or company backs.

I was skeptical that if a country creates their CountryCoin (AmeriCoin/AmericaCoin, RussiaCoin, ChinaCoin), wouldn't it effectively cause bitcoin itself to go in freefall as people would convert to the coin backed/sanctioned by a government.

Likewise, Apple can create iCoin. For those reasons I was skeptical.

Looks like it doesn't really matter as long as you get off the ride before it starts to stop.