Bitcoin may not be number one for long - page 69.

mamaya

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Quote from: Marsipos on June 12, 2017, 05:19:58 AM

This is just pure bullshit. Just because Ethereum got a little increase today, you are now confident this is the new king. But common... Bitcoin has so many reason to remain number one that it would be too long to detail it here. Even when ZCash price was higher than 1BTC, we did not say tha it was the new king, so price means nothing to elect the chief of the crypto-currencies. Ether is not a proper crypto-currency, it is rather the fuel of a decentralised computer, and this is the major difference with Bitcoin.

Zcash was never close to the marketcap of btc, the price of a single unit is irrelevant if the supply is much lower.

Ether is not the fuel of a decentralised computer, it is the reserve currency of all new developments in the crypto world. Where once btc dominated the donations towards ICOs now it is ether that overwhelmingly dominates.

You also did not list one of the so called reasons why bitcoin has to remain number 1. In fact Ethereum is more decentralised mining wise than bitcoin, it is more programmable and it is more adaptable to changes.

thesavoyard

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Rationalizing that ethereum isn't a cryptocurrency? Funny, spends like btc but faster.

Segwit

Yeah that's a solution that should last a year or two, until 2mb block size isn't enough.

jubalix

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Quote from: BTCLovingDude on June 12, 2017, 04:26:18 AM

Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

it looks like this summer ethereum might pass it up.

Quote from: thesavoyard on June 12, 2017, 04:11:18 AM

Quote from: BTCLovingDude on June 12, 2017, 04:07:37 AM

can you tell me what the problem with bitcoin is?

It can't scale, it's too slow to be a currency even when the blockchain isn't congested, too factional. Segwit isn't even a longterm solution and asic mining means centralization. Bitcoin doesn't do what it was intended to do after 9 years, imagine what problems there will be in 9 more? I'd like to see an asic proof coin become top.

your beloved ethereum that you are advertising here:

has worst scaling issues that bitcoin does

Yes but there will be solutions that will be adopted.

That's the difference

AK47-

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Quote from: krishnapramod on June 12, 2017, 05:02:49 AM

Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

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.

It is difficult to grasp for me why people always compare BTC to ETH. Both are entirely different, one is finite in number, the other have endless supply, it is way too easy to get an idea what would happen in the long run. There is a simple logical reason why bitcoin is called digital gold. Secondly Ethereum is a smart contact based development platform, Ether the currency. Compared to bitcoin client, the scripting language of Ethereum is susceptible to hacks and attacks, DAO hack.

Comparing BTC to ETH is like comparing an animal to a bird, both have different working models. Ethereum has the potential to give this world many innovations which would make it a better place. But if you are going to compare Ether with BTC as a currency, Ether would not stand a chance against BTC in the long run.

Yeah, the scaling issue is causing some problems right now. But it would be fixed. If BIP148 does not the the split chain and Segwit gets activated we would have a solution within he next few months or most probably by 2018, Segwit2x.

I cannot agree more. You just wrote exactly what I wanted to write. ETH and BTC were never in competition as a currency. They both have completely different features which make it stupid to compare them. Regarding that scaling issue Segwit can certainly solve it.

Marsipos

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This is just pure bullshit. Just because Ethereum got a little increase today, you are now confident this is the new king. But common... Bitcoin has so many reason to remain number one that it would be too long to detail it here. Even when ZCash price was higher than 1BTC, we did not say tha it was the new king, so price means nothing to elect the chief of the crypto-currencies. Ether is not a proper crypto-currency, it is rather the fuel of a decentralised computer, and this is the major difference with Bitcoin.

White Christmas

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Quote from: Ayiranorea on June 12, 2017, 04:24:22 AM

Nothing seems a problem with bitcoin, right now ethereum has made a big growth. This makes people think that bitcoin might go down in value. But the reality is that more the growth experienced, more will be the competence and based on this always bitcoin stands first.

Even bitcoin has a more competence like altcoins. It still be the best coin in this forum becaus of it power. Bitcoin has a unique characteristics from the other. We are not sure if its remain for long but if the problem in transaction fees will not be solved then maybe it will.

krishnapramod

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Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

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.

It is difficult to grasp for me why people always compare BTC to ETH. Both are entirely different, one is finite in number, the other has endless supply, it is way too easy to get an idea what would happen in the long run. There is a simple logical reason why bitcoin is called digital gold. Secondly Ethereum is a smart contact based development platform, Ether the currency. Compared to bitcoin client, the scripting language of Ethereum is susceptible to hacks and attacks, DAO hack.

Comparing BTC to ETH is like comparing an animal to a bird, both have different working models. Ethereum has the potential to give this world many innovations which would make it a better place. But if you are going to compare Ether with BTC as a currency, Ether would not stand a chance against BTC in the long run.

Yeah, the scaling issue is causing some problems right now. But it would be fixed. If BIP148 does not split the chain and Segwit gets activated we would have a solution within the next few months or most probably by 2018, Segwit2x.

DeathAngel

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ETH is beginning to worry me, it's growth has been very quick & now has to be respected. I'm thinking I might need to invest a little just incase it moons, maybe $1000.

MostHigh

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Well, i will hold on to my bitcoin for some time. It is to me more stable than ether-um. I ve seen crypto-currencies come and go but the bitcoin is still here. Remember the pioneer is always one foot ahead.

isabella01

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Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

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.

Its totally fair to acknowledge the steady growth Ethereum has made during its course but I still don't think it has the power to overtake Bitcoin. Perhaps in the fututre, who knows what will happen...

thesavoyard

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I don't even hold ethereum, it's not my beloved. I prefer Dash, though the ASIC mining turns me off. I think lbry will be the next big thing and zec privacy and Nvidia mining will keep it strong.

BTCLovingDude

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BTC to the moon is inevitable...

Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

it looks like this summer ethereum might pass it up.

Quote from: thesavoyard on June 12, 2017, 04:11:18 AM

Quote from: BTCLovingDude on June 12, 2017, 04:07:37 AM

can you tell me what the problem with bitcoin is?

It can't scale, it's too slow to be a currency even when the blockchain isn't congested, too factional. Segwit isn't even a longterm solution and asic mining means centralization. Bitcoin doesn't do what it was intended to do after 9 years, imagine what problems there will be in 9 more? I'd like to see an asic proof coin become top.

your beloved ethereum that you are advertising here:

has worst scaling issues that bitcoin does.
it is not a currency, it is a token to be used only for smart contracts on the platform
to this date it has no solution for scaling. they have said some stuff but we have not yet seen any code, or project.
the fees are extremely high for an altcoin that is not even yet adopted by any major amount of users. the number transactions are extremely low but the average fee per transaction is already nearing $1.5
it is the similar PoW algorithm which can technically have similar equipments such as ASICs called something else. the reason why there isn't any ASIC-like equipment for efficiently mining ethereum is because of the intentional difficulty bug that was introduced in the early days of ethereum's release which means the difficulty will rise up with a fast speed pretty soon which is known as a little fact called ethereum difficulty bomb so no manufacturer bothered with inventing an ASIC-like miner for mining business that will die soon
people don't even run or are willing to run a full node because the client is terribly designed and it is going to take up a lot of system resources because the blockchain size is growing at an fast speed. that leads to more centralization. what will become of ethereum in 9 more years?
smart contracts are known to be easily exploitable. we have already seen a big scale DAO which lead to a roll-back hard-fork and a couple of more smaller ones which didn't have a big enough effect to lead to a hard fork. what will they do next time another DAO happens?
it is a known fact that ethereum is centralized, you have no say in anything. the reason why SegWit, BU, Classic, XT have never been able to be implemented is because bitcoin is decentralized. you can't fork without having a consensus. with ethereum THEY will fork whether miners and users want it or not and will end up with 2 or more chains.
smart contracts which is the only thing etherum is supposed to do is not really something great, it can be done on other more efficient platforms (there are a couple of them out there currently, give them a try and you will see how efficient they are) at a lower cost for the developers to register their contracts. also there is rootstock which will work pegged on bitcoin that will practically make ethereum useless.

thesavoyard

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Quote from: magneto on June 12, 2017, 04:23:36 AM

Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

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.

What made you think that the bitcoin split is going to impact bitcoin so greatly? I think you are forgetting the fact that Ethereum has its own problems to deal with, namely Ethereum Classic. I still don't understand to date why the hell they even attempted to essentially reverse the ethereum network. That was an extremely stupid move.

It's not very credible either when the founder of Ethereum is shilling on twitter. https://twitter.com/VitalikButerin/status/873536653331095552. Trying to scare people into not using bitcoin. Without bitcoin, ethereum wouldn't have existed. Simple as that. Remember 4-5 years ago when peercoin and namecoin were still popular? Yeah.

I think going to a POS system will damage ethereum, but ethereum classic is done. It recovered but that damage is in the past. Bitcoin can recover as well but that damage is still in the future. not saying you should sell your BTC, it might be an opportunity to make money, but I do think BTC will lose the top spot on the market cap sooner or later.

mamaya

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Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

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.

I'm sure ethereum will pass it up and very soon but the main question is will it be able to permanently hold the number 1 spot and of this I am not so sure. Ethereum has been just as volatile as bitcoin and has a much higher inflation rate, with such rapid rises its bound to have some more severe crashes where as bitcoin has been much more stable.

Ayiranorea

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Nothing seems a problem with bitcoin, right now ethereum has made a big growth. This makes people think that bitcoin might go down in value. But the reality is that more the growth experienced, more will be the competence and based on this always bitcoin stands first.

magneto

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Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

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.

What made you think that the bitcoin split is going to impact bitcoin so greatly? I think you are forgetting the fact that Ethereum has its own problems to deal with, namely Ethereum Classic. I still don't understand to date why the hell they even attempted to essentially reverse the ethereum network. That was an extremely stupid move.

It's not very credible either when the founder of Ethereum is shilling on twitter. https://twitter.com/VitalikButerin/status/873536653331095552. Trying to scare people into not using bitcoin. Without bitcoin, ethereum wouldn't have existed. Simple as that. Remember 4-5 years ago when peercoin and namecoin were still popular? Yeah.

thesavoyard

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Quote from: YuginKadoya on June 12, 2017, 04:17:47 AM

if the split would truly occur, and we can not surely know the real effects of the split on bitcoin if it will be surely for the better or for the worst, but I think we should be prepared for the impending split and if the date of the split would occur and they say that it is on Aug. 1 then selling your coins is the best way or get a wallet that can surely convert your bitcoin fast enough before the bitcoin split because we might know what really might happen.

I'd actually hold, after the split you'd own bitcoin and bitcoin classic. If both hit a bull run you could be making money like altcoin holders make money.

redbee

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Quote from: Wind_FURY on June 12, 2017, 04:02:21 AM

That might be true. But I do not believe Ethereum will be able to hold their gains for long. Sooner or later the price has to go down simply because that is what markets do.

So always remind yourself not to get lost in the mania and try to stay objective. In a market like this, it is easy to think that the good days will never end.

Well, when traders think market easy make money with Long a coin in trend up, they will take more profit, but they don't know the whale and shark can kill them anytime. I has been do that with STR and take loss 60%, a precious experience!

YuginKadoya

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if the split would truly occur, and we can not surely know the real effects of the split on bitcoin if it will be surely for the better or for the worst, but I think we should be prepared for the impending split and if the date of the split would occur and they say that it is on Aug. 1 then selling your coins is the best way or get a wallet that can surely convert your bitcoin fast enough before the bitcoin split because we might know what really might happen.

niisarearning

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Quote from: thesavoyard on June 12, 2017, 03:46:14 AM

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.

I think you came to this assumption because of recent growth in ethereum . But its in one direction its rising once it starts to fall like happened with bitcoin almost near 350 $ to 400$ last year . Could you think the same happens with ether it will survive or again it takes launch like bitcoin

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