Topic: Bitcoin may not be number one for long - page 54. (Read 28298 times)
Newer technology on future altcoins that will be release few years from now i think will be the cause of bitcoin falling from being number 1,bitcoins still uses an somewhat old technology on their company so more advance technology may be a threat
Yeah clear and sa truth that may come up along in our long way into cryptocurrency in future years,bitcoins is strong and top for now but the thing is can it adopt to changes and competition witht this new altcoins that competing against it
Bitcoin will always remain Bitcoin: the first, the original, the best. Ethereum will remain Ethereum, it will never replace Bitcoin.
yes you right ethereum cannot take palce from bitcoin. Because bitcaoin have more value than ethrium and bitcoin are adopt by many countries as a trancastion that i thing bitcoin is already number one currencey I thought for sure it would take until the end of 2018 but it looks like this summer ethereum might pass it up. With the turmoil around BTC potential splitting, it might be very soon. IMO this is healthy, we will always value bitcoin for being the one that started it all, but it's time for a more dynamic and adaptable currency to take the lead.
To be honest if bitcoin were to collapse due to political reasons, I think the next coin in the race will be Litecoin and not Ethereum many don’t like Ethereum and think it is centralized, but Litecoin is basically bitcoin with segwit already activated, so to me that would be the best option. 
However, you are right about Ethereum not being intended as vehicle to store value....it's a whole different technology all together. What's built upon the Ethereum network is what provides its value. Bitcoin, on the other hand, is used as means to store value and that value is subject to the whims of those who decide what its value should be....as long as people have confidence in its utility, it will maintain its value. But, when you start witnessing a stronger demand for the more utilitarian technologies, then you can bet that the value of bitcoin will be tested.
Strictly speaking, Bitcoin is not intended for that purpose either
It is just a side effect of a currency, i.e. if something is intended to be used as a currency (and a good currency at that), it should keep its value over time (more or less). Neither Bitcoin is intended to be a vehicle for speculation but things are as they are. Gold is just a metal like many other metals out there, it is humans which like shiny and solid things that made gold into a means of payment and a store of value. Nature never intended it to be used in this manner. In fact, it can't even intend as such. So this point is meaningless while its discussion is basically an exercise in futility and stupidity. If something keeps its value more or less constant (still better if it rises with time), you can be dead sure it will be used as a store of value (provided it is handy and convenient to use, of course)
Bitcoin will always remain Bitcoin: the first, the original, the best. Ethereum will remain Ethereum, it will never replace Bitcoin.
yes you right ethereum cannot take palce from bitcoin. Because bitcaoin have more value than ethrium and bitcoin are adopt by many countries as a trancastion that i thing bitcoin is already number one currenceyAnd yes ethereum is coming very strong against bitcoin but did you see ethereum network last 2 days. You probably saw. It' at least as slow as bitcoin's network. This is not a good indication for ether's future.
Ethereum's network isn't even backlogged for the same reason. BTC is because a block size cap was put in by early miners, Ethereum is just a failure. I'm honestly kind of worried about blockchain tech because of this. Someone needs to run a blockchain and run tens of thousands of transaction per second to show the technology can scale.
Do you really think that a turing complete platform is just a "lucky feature" that made smart contracts possible? Do you also believe that a $31.5 billion dollar marketcap can be attributed to chance? There is major development taking place within the Ethereum network that is unparalleled by any other platform....Decentralized applications are NOT just a "lucky feature" associated with the Ethereum platform. These D'Apps----> https://dapps.ethercasts.com/ <----are not "luck." They represent real development and innovation.
But what you are not mentioning is the fact that turing completeness is what will be the final demise of the Ethereum platform. It is only a matter of time that a big exploit is found in the Ethereum platform thanks to turing completeness that results in fatal death of the entire project. Bitcoin on the other hand, thanks to the more simple approach, it's safe against these kind of exploits. Ethereum as a store of value is nonsense, that is why it will never replace Bitcoin.
I failed to mention the "fact that turing completeness is what will be the final demise of the Ethereum platform" because it is not actually a fact. It is an imaginary scenario that has no basis in fact whatsoever. However, you are right about Ethereum not being intended as vehicle to store value....it's a whole different technology all together. What's built upon the Ethereum network is what provides its value. Bitcoin, on the other hand, is used as means to store value and that value is subject to the whims of those who decide what its value should be....as long as people have confidence in its utility, it will maintain its value. But, when you start witnessing a stronger demand for the more utilitarian technologies, then you can bet that the value of bitcoin will be tested.
The price of the cryptocurrency doesn't matter that much because it doesn't take into account the number of coins available. I'd compare based on market cap. Right now Bitcoin and Ethereum have market caps of $42 billion and $34 billion USD respectively. Ethereum is at 81% and it has been increasing steadily for the past few months.
Basically any financial statistic from altcoins is not something you should look at if you haven't been looking at the actual usage first. Reality will show that despite the sharp increases that a lot altcoins experienced lately, they haven't experienced much growth in terms of actual usage, aside from the speculative part. No matter how many people threaten to move over to altcoins because they are faster and cheaper, it has all been nothing more than big talk.
Wouldn't you say that every crypto is speculative right now? I can't use even one of them in my daily life. And how is it that you're looking at actual usage?
Either way, back to my response, market cap has some basis for comparison (to be taken with a grain of salt of course), where price alone doesn't.
Nor can this fact be denied that the cryptocurrency is hardly used anywhere to fulfill our needs directly because we need to convert it into fiat and then we can pay for our routine activities.
Why not??
From my point of view that Bitcoin has the potentiality to become the number one currency in the virtual world. Already it has been gained the best position. So it can be said that, Bitcoin will go to become a number one for long...
You are right, Now bitcoin is the number one when we talk about other cryptocurrencies even in real money. I believe in it so much and it is in a good position for now, many people use it daily, and the number of people who enroll this community increase each day. I hope that bitcoin price increase a lot at the end of this current year. From my point of view that Bitcoin has the potentiality to become the number one currency in the virtual world. Already it has been gained the best position. So it can be said that, Bitcoin will go to become a number one for long...
There are some good cryptocurrencies with very positive trends that are worth investing in but bitcoin will keep the number one position, at least for a while. Ethereum stil doesn't have the proper potential to replace the bitcoin and its not easy to get so adopted and implemented in real life like bitcoin has done.
Why not??
From my point of view that Bitcoin has the potentiality to become the number one currency in the virtual world. Already it has been gained the best position. So it can be said that, Bitcoin will go to become a number one for long...
From my point of view that Bitcoin has the potentiality to become the number one currency in the virtual world. Already it has been gained the best position. So it can be said that, Bitcoin will go to become a number one for long...
Bitcoin will always remain Bitcoin: the first, the original, the best. Ethereum will remain Ethereum, it will never replace Bitcoin.
yes you right ethereum cannot take palce from bitcoin. Because bitcaoin have more value than ethrium and bitcoin are adopt by many countries as a trancastion that i thing bitcoin is already number one currenceyAnd yes ethereum is coming very strong against bitcoin but did you see ethereum network last 2 days. You probably saw. It' at least as slow as bitcoin's network. This is not a good indication for ether's future.
Ethereum's network isn't even backlogged for the same reason. BTC is because a block size cap was put in by early miners, Ethereum is just a failure. I'm honestly kind of worried about blockchain tech because of this. Someone needs to run a blockchain and run tens of thousands of transaction per second to show the technology can scale.
Do you really think that a turing complete platform is just a "lucky feature" that made smart contracts possible? Do you also believe that a $31.5 billion dollar marketcap can be attributed to chance? There is major development taking place within the Ethereum network that is unparalleled by any other platform....Decentralized applications are NOT just a "lucky feature" associated with the Ethereum platform. These D'Apps----> https://dapps.ethercasts.com/ <----are not "luck." They represent real development and innovation.
But what you are not mentioning is the fact that turing completeness is what will be the final demise of the Ethereum platform. It is only a matter of time that a big exploit is found in the Ethereum platform thanks to turing completeness that results in fatal death of the entire project. Bitcoin on the other hand, thanks to the more simple approach, it's safe against these kind of exploits. Ethereum as a store of value is nonsense, that is why it will never replace Bitcoin.
True, ethereum is getting a ton of recognition and development all around it which is quite amazing. Even the president of Russia (Putin) has established plans to implement it in some of his projects as well as in some russian bank. I can also say, ICO's alone may have also boosted the price of ethereum and made it into a new world cryptocurrency.
Bitcoin will always remain Bitcoin: the first, the original, the best. Ethereum will remain Ethereum, it will never replace Bitcoin.
yes you right ethereum cannot take palce from bitcoin. Because bitcaoin have more value than ethrium and bitcoin are adopt by many countries as a trancastion that i thing bitcoin is already number one currenceyEthereum's market cap is inflated, unlike that of Bitcoin. Only a small percentage of Ethereum is in free-float form, and the rest is being kept in cold storage by Vitalik Buterin and the other developers. Although the demand is not as high as that with Bitcoin, the prices are rising due to the limited availability of the Ethereum tokens.
What do you mean the demand isn't as high as bitcoin's? What variables are you looking at to determine that observation? Their 24 hr volumes are virtually identical....their supplies are different, granted, but their demands are congruent in terms of dollars, right?
# Name Market Cap Price Circulating Supply Volume(24h) % Change(24h)
1 Bitcoin Bitcoin $44,396,080,344 $2706.22 16,405,200 BTC $1,301,000,000 -0.29%
2 Ethereum Ethereum $31,272,686,221 $337.34 92,704,309 ETH $1,263,700,000 1.31%
Source: https://coinmarketcap.com/
I don't know how much we can get out of that
It is not even clear how and where they get these numbers. For example, Litecoin is priced at over 47 dollars per coin at coinmarketcap (which is more than 50 times less than the current price of Bitcoin, for a moment) while its 24 hour volume is 475 million dollars, i.e. under three times less than either Bitcoin or Ethereum. As to me, there is something very fishy about these stats. More specifically, to get that high volume Litecoin with its price that small should be traded (475/1273)×(2704.76/47.37) =>21 times more than Bitcoin in US dollars, i.e. for each 1 dollar of bitcoins traded (either bought or sold) there should be 21 over dollars of litecoins traded. This is bullshit
The litecoin market is brutal....it trades much faster and much more fluid than bitcoin. In fact, if you're not an expert cryptocurrency daytrader, my advice is to stay away from the litecoin market....it swings, it swings in big chunks, and it swings fast!
I'm trading Litecoin specifically
That's why I find this data very suspicious. Just in case, I'm at Bitfinex, and while I certainly agree that the price swings might be "brutal" (or even fatal to some), they in fact confirm that there simply cannot be so much liquidity to provide that volume (and you can't gather hundreds of millions of daily volume with small trades). Liquidity always works against volatility (and vice versa). I don't really know how much Bitfinex "weighs" in terms of Litecoin volume (compared to other exchanges), but it is the largest Bitcoin exchange out there, so in respect to Litecoin it shouldn't be very far either. Strictly speaking, I can't even say that Litecoin is somehow a lot more fluid than Bitcoin, though the market is definitely thinner
Well....Poloniex has a daily litecoin volume around 5 times as large as bitfinex and OKCoin's daily litecoin volume is around 20 times larger....there are other's in the top 10 also....Some exchanges favor different coins. Poloniex is a much larger exchange in terms of BTC volume compared to Bitfinex, yet OKCoin, which has a smaller BTC volume then Bitfinex, has the largest litecoin volume of them all, by far
If true, that basically means that Litecoin is No. 1 currency right now
And not according to some bullshit metric like market cap or even price itself which doesn't tell much on its own (without being linked to the number of coins actually circulating). Otherwise, that essentially proves that we can't trust the coinmarketcap data (which seems to be closer to reality). Aside from that, I don't think that we should trust OKCoin volume data either. This is one of the Chinese exchanges which had already been caught doctoring their trading volumes or just marking them up due to lack of trade fees (back then)
For the past few weeks, the market caps of Ethereum and Bitcoin have remained almost similar in size. No one knows which one of them will win in the end. If SegWit is implemented, then the chances are that Bitcoin will emerge as the dominant currency, and Ether will fade in to oblivion. But if some bug is found with SegWit, or if it can't be activated, then ETH will be having a good shot at the top position.
I am wondering if by the end of the year we see Ehtereum reach at least 1k USD. It's a shame I did not buy any when it was just ten dollars a few months ago. We see how fast Ethereum has grown this year in comparison t Bitcoin and if this trend continues we will see Ethereum marketcap grow bigger that Bitcoin marketcap I think within the next 6-12 months.
I feel bad too that i wasnt able to buy eth when the price of it is so low. Eth really has the capacity to reach 1k USD at the end of year because its demand and community is getting bigger. Very saaad i wasnt able to invest on ETH
New technologies can be much better than bitcoin and I do not rule out that they can destroy it in a few years.
Is right to say that, ETH would be nothing without BTC? Because most of time, when I look into an ICO its accept ETH and BTC. I think that is the BTC that gives 'value' to ETH, but I don't know for sure.
Many are saying that there will be a coin flip and that Ethereum will overcome bitcoin. But its sad to say that Ethereum had just crashed while bitcoin continues to go up. Ethereum was being used by traders so that they can gain more bitcoins. In the end bitcoin will never be replaced , not in this year.
. It just a blue dream for investor opportunity not have knowledge! 
Who is going to take the number 1?
Ethereum is falling every hour with no sign of recovery.
Ripple doesn't recover too, and in the future many ripples will be released of their lockdown and probably be dumped.
Litecoin isn't even close to really threat Bitcoin.
Ethereum is falling every hour with no sign of recovery.
Ripple doesn't recover too, and in the future many ripples will be released of their lockdown and probably be dumped.
Litecoin isn't even close to really threat Bitcoin.
While it is true that there is a possibility that bitcoin may be displaced by a stronger currency at some point, that possibility should not be reduced to the current options. It is true that ethereum at this moment seems to have some potential to break the hegemony of bitcoin, but we must not close the door to the great technological developments that the future has to us. I believe that the nascent quantum computing has amazing and advanced things to offer, and perhaps in twenty years the blockchain will be remembered as a primitive and rudimentary technology just for nostalgic and old bitcoiners.
Is right to say that, ETH would be nothing without BTC? Because most of time, when I look into an ICO its accept ETH and BTC. I think that is the BTC that gives 'value' to ETH, but I don't know for sure.
Many are saying that there will be a coin flip and that Ethereum will overcome bitcoin. But its sad to say that Ethereum had just crashed while bitcoin continues to go up. Ethereum was being used by traders so that they can gain more bitcoins. In the end bitcoin will never be replaced , not in this year.
Bitcoin will always remain Bitcoin: the first, the original, the best. Ethereum will remain Ethereum, it will never replace Bitcoin.
yes you right ethereum cannot take palce from bitcoin. Because bitcaoin have more value than ethrium and bitcoin are adopt by many countries as a trancastion that i thing bitcoin is already number one currenceyAnd yes ethereum is coming very strong against bitcoin but did you see ethereum network last 2 days. You probably saw. It' at least as slow as bitcoin's network. This is not a good indication for ether's future.
Ethereum's network isn't even backlogged for the same reason. BTC is because a block size cap was put in by early miners, Ethereum is just a failure. I'm honestly kind of worried about blockchain tech because of this. Someone needs to run a blockchain and run tens of thousands of transaction per second to show the technology can scale.
Do you really think that a turing complete platform is just a "lucky feature" that made smart contracts possible? Do you also believe that a $31.5 billion dollar marketcap can be attributed to chance? There is major development taking place within the Ethereum network that is unparalleled by any other platform....Decentralized applications are NOT just a "lucky feature" associated with the Ethereum platform. These D'Apps----> https://dapps.ethercasts.com/ <----are not "luck." They represent real development and innovation.
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