Topic: [2018-01-27] Ethereum is Now “Just” $80 Billion Away From Overtaking Bitcoin (Read 155 times)

The growth of capitalization eth is associated with the outflow of investment from bitcoin. If not solved the scalability problem of bitcoin he may die. Now it really is better to use eth. It seems to me that the miners have relied on bch. For me it is not clear why the developers do nothing. Perhaps the war is lost. Wish. We have all become hostages of the situation.

There's no way Ethereum can overtake Bitcoin in the long run - it's more centralized, has less developers than Bitcoin and smart contracts are not even useful yet - the best thing they have achieved so far is some pseudo-decentralized game with digital cats, it suffers from the same scalability problems, and its blockchain is much more bloated than Bitcoin's. And even in the short term, Bitcoin seems to have the upper hand - Lightning is already tested on mainnet, while Ethereums innovations like Raiden are still on some testnets.

If the bitcoin cannot scale properly to accommodate the increased trade, people will use the Ethereum or Bitcoin Cash instead. So it is possible the latter two can overtake bitcoin.

What do you think about “Byzantium” Ethereum upgrade? Would it help ETH to raise?

Bitcoin and ethereum is both mineable so everybody should not be shocked by this kind of news, miners always support the coins/tokens they mine. Ethereum is used as payment in most of new INITIAL COIN OFFERINGS, so basically it is needed by the investors. $80 billion is quite too big to reach the peak of bitcoins value. Bitcoin is valuable than ethereum for the reason that BTC has more supporters.

Ithe independency of ethereum is the reason why ethereum is next to BITCOIN.

There is enough space for both coins to grow in value. It doesn't matter whether Bitcoin has a higher market capitalization or Ethereum has a higher market capitalization, as long as both continue to grow. Even if the 'flippening' does happen, I don't think it signifies anything. In the last couple of months, both Bitcoin Cash and Ripple have overtaken Ethereum, only for it to bounce back.

Due to the fact that the introduction of SegWit has already reached 20 percent, the network of lightning has gradually started to be introduced, and the good information from South Korea has appeared, the sizes of transaction fees of bitcoin come back to normal. The transaction time decreases and bitcoin almost reached the rate of 12,000 dollars. I think that in the near future it will again begin to grow in price and the difference in the capitalization of bitcoin and ethereum will again start to increase.

Ethereum has so much trouble at the moment with their scaling method and also with their node syncronization and yet, people are still buying it. I think most of this interest is purely speculation and because Ethereum is the second cheapest coin, after Bitcoin.

To think Ethereum was marketted as a "Smart Contract" solution and when the scaling in Bitcoin became a issue, it quickly changed strategy and started to market Ethereum as a alternative for Bitcoin as a currency. ^lol^

$80 billion is not just a mere figure, athough bitcoin may be experiencing some challenges now due to some fundamentals and FUDs coming from different sources once those challenges is surmounted the price will surge upward because bitcoin is more popular than ethereum thus it's market capitalization will increase too.

"Just", what is a joke. So many coins have that dream to overtake Bitcoin, but all are just dreams

That is exactly what I predicted. Yet, I do not think it will overtake it so easily because it needs more than that to do so. But yes, I do really see a good future for Ethereum which is arguably the second cryptocurrency that people rely on. I do not blame them though because Ethereum is better than Bitcoin in terms of transaction fees or unconfirmed transactions. However, I am sure that bitcoin will remain the number one.

So what? Ripple managed to surpass Bitcoin's market cap two times already, so there is nothing special to it. Market caps of altcoins are utter nonsense metrics. No one should look at that as being an actual market share metric, because it isn't. There is a major difference between market cap and market share - people should just understand what both terms actually mean. Just wait for it when Lightning Network becomes operational on the main net, altcoins will then see how much of that "precious" market cap of Ethereum and other top altcoins will be left.

Ethereum and bitcoin have not been so close in market cap for a long time, with ethereum standing at $103 billion, while bitcoin is at $185 billion, down considerably from its all time high.

Ethereum’s market share has further risen to 20% of all digital currencies and tokens, while bitcoin’s is down to around 35%, nearly halved recently.



The ratio between ethereum and bitcoin has also been rising five fold, from one eth being 0.02 BTC, to now 0.1.

The two, of course, have vastly different supplies, eth at 97 million while bitcoin is at 16 million. Due to that discrepancy a higher price for bitcoin might be expected, but eth’s price is now to where bitcoin’s was around this time last year.



Ethereum’s price would need to rise by around $800, in effect nearly doubling, while bitcoin’s price remains at the same level, for eth to overtake btc in marketcap.

Can it do it? Well, it nearly did during spring last year when eth was just around 5% market share from overtaking bitcoin.

Among many reasons, scalability was one contributing factor towards it because bitcoin can no longer process more than around 300,000 on-chain transaction. While ethereum is currently processing around one million transactions at a fee of just five cent.

BTC, furthermore, plans to scale off-chain through second layer protocols that offer a different level of security and decentralization, while ethereum is hard at work to scale on-chain at the same time as they are working on providing second layer protocols as an alternative in addition to on-chain scaling.

Ethereum furthermore plans to replace the energy intensive proof of work mining algorithm with a proof of stake consensus model, whereby all you need to validate transactions is just eth you stake and a laptop.

To say little of its far bigger use cases due to programmable money functionalities through smart contracts, which promise to disrupt all sorts of industries, from supply chains to music.

But while an ordinary man down the street vaguely knows about bitcoin, few have heard about ethereum, as shown by the Google search trends.



That might mean ethereum is at the level bitcoin was in 2013, a fairly little known public blockchain that nonetheless had many enthusiastic supporters.

But ethereum has grown far faster in adoption, which might suggest bitcoin’s trailblazing has made the path easier for newcomers.

Eventually, therefore, individuals might become more familiar with bitcoin alternatives and their differences, not least because of ethereum’s dapps and tokens ecosystem, where many innovative projects are being built.

Source : https://www.trustnodes.com/2018/01/27/ethereum-now-just-80-billion-away-overtaking-bitcoin