Bitcoin no longer relevant? - page 2.

lionheart78

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

Even though ETH is surging really well and taking some percentage of the Bitcoin dominance, I still don't think that Altcoin is taking over and replacing Bitcoin. Bitcoin had been widely accepted and many governments is acknowledging it already. It will take time for altcoin to get where Bitcoin is now so it isn't time for Altcoin to take over and replace Bitcoin.

AniviaBtc

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Take note that some other potential coins only rely on bitcoin's price, they are just an alternative source of profit besides bitcoin.

At the end of the day, bitcoin is the one who will still prevail in the market even if its price is very volatile in the market compared to other coins.

Bitcoin is relevant in a long run because it is the foundation of other cryptocurrencies and it is normal for its price to go down because all coins are volatile in the market.

(o)(o)ilikeboobs(o)(o)

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Considering the capitalization of Bitcoin and the rest of the market, perhaps Bitcoin is falling, but if you look closely, no cryptocurrency can replace Bitcoin on the chart.
Bitcoin has always been a symbol of crypto. Let's see how Bitcoin falls in price and how the remaining cryptocurrencies crash in value.
Those who have experienced the bear market will understand which crypto is king.

bisdak40

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

I don't think that altcoins will take over Bitcoin on the top spot of the market cap. Their run is temporary due to the endorsement of some whales but if we want our money to be safe, put it on bitcoin.

I'm trying to engaged in ETH but the high TX fee prevented me, they have to solve this if they want to sustain their run.

Anonylz

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

Maybe we are about to witness the much awaited altseason, btc have had its share of fun this past months perhaps now is time for alts to have some fun too, that is not taking away the possibility that btc can still pull a fast one, going by analyst prediction btc haven't hit the 72k target yet, there is a possibility that will happen alongside alts bullrun,
if you don't have some alts, perhaps now is the time to pick up some good ones, for if the altseason has been activated, you wouldn't want to miss out.

mu_enrico

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

Replacing Bitcoin about what? If it is about payments, there are already altcoins that outperform BTC in tx/sec, fees, etc.
People currently only use BTC as a store of value or investment. So if it's about price (market cap), BTC will still be #1 until there is a new technology that fundamentally different from this "blockchain technology" and solves "the trilemma."

We might not call it "coins" but mana, soul, or whatever. Grin

infer

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

I don't think it can replace bitcoin, talking about prices or other aspects.
If it's possible on bitcoin in terms of price, I don't think they can hold on as long as bitcoin. Although other currencies are growing and growing no less. But they won't replace bitcoin

thesmallgod

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Bitcoin is very much relevant. Maybe because of the new ETH ATH but that does not make it look as if ETH is chasing bitcoin out of relevant. If you understand some previous pump history, you will know there is always a time whereby traders will consider other coin too and their price will increase. It is not only ETH that is pumping but many others (WAVES, NEO etc.)

mk4

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Quote from: ALLON2017 on May 04, 2021, 05:53:32 AM

I just paid $36 to transfer $220 worth of Bitcoin, what a f**ken joke. I hope it does become irrelevant

You didn't even need to pay $36 for a transaction fee to start with. You should know by now that fee recommendations on most(if not all) wallet software almost always overcharge for the fees and make inaccurate recommendations.

masphie

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I believe other coins can replace bitcoin in terms of price. From another perspective, it seems impossible to replace bitcoin.
The question is, if the price of other coins can exceed the current price of bitcoin ..... can it survive like bitcoin?

virtualdn

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Quote from: ALLON2017 on May 04, 2021, 05:53:32 AM

I just paid $36 to transfer $220 worth of Bitcoin, what a f**ken joke. I hope it does become irrelevant

I don't mind paying $100 to transfer $50K. BTC it's a store of value like gold. For small transactions use Paypal

bosede1

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

"Bitcoin not relevant"? I want to know which point and rate to which this was said because I was just trying to wrap my head around this write-up and I couldn't get your point and basis. Ethereum and other altcoins have taken over no way

ALLON2017

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I just paid $36 to transfer $220 worth of Bitcoin, what a f**ken joke. I hope it does become irrelevant

virtualdn

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Yes it is no longer relevant. Go buy Dogecoin and make Elon Musk and all the Dogecoin pumpers happy.

BlackHatCoiner

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?

What do you mean to “replace” it? What is Bitcoin to be “replaced”? That it'll stop being the #1 on market cap or that people will stop using it? Because I highly doubt for both. Bitcoin was the first one, it was the one that started this technology.

I'll quote you a nice part of the nullius' Social Phenomenon:

Quote from: nullius on January 08, 2020, 12:19:48 PM

People who disagree with each other about everything else, can agree about Bitcoin. That is what gives Bitcoin its value: Everybody wants Bitcoin, no matter what their opinions about anything else!

Besides the above, there are others more practical reasons why Bitcoin will always be the default one. It is the most decentralized one, with no premined coins (such as with Ethereum) and with a dedicated developing team.

And as said by others, you shouldn't be comparing Ethereum with Bitcoin since they're solving different problems. It's like believing that oranges will replace apples, because oranges taste better to you.

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

As everything in crypto happens in cycles, so its the same case with this ETH and other altcoins price increase. Back in early 2018 BTC dominance fell to 38%, and eventually it went up above 70% again. Now we are seeing the same thing, BTC price is going sideways for some time, that gives alts more room to breathe, therefore decreasing BTC dominance which is currently approximately 48%.

So, even if BTC dominance falls below 40%, it doesn't mean that BTC is not relevant anymore, it is just a cycle and sooner or later people will take the profits from their alcoins and put it back into BTC, which is much safer in the long run.

Quote from: mk4 on May 04, 2021, 03:27:11 AM

As for Ethereum, they aren't even in the same category. Both are trying to do different things.

Exactly this, ETH and BTC can perfectly coexist as you said they are trying to do different things.

ultrloa

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

Says who? Do you ever see bitcoin drop down at rank 2? I don't see that come since if you look at the situation on the market when bitcoin price dump almost all alts dump to including that ethereum or other what coin you support.

So don't believe on take overs for now since there are so many things need to happen, but those bad things seems not yet to come since bitcoin is getting more stronger and stronger with good adoption announced every year.

blockman

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Quote from: SmallCapCoins on May 04, 2021, 02:30:57 AM

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

No way. How many threads were there about tackling if Ethereum and other altcoins will replace before? I think there were so many of them. @OP, how come you have thought of Eth and alts will taking bitcoin's place?

GreatArkansas

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If you will check this site: https://www.blockchaincenter.net/flippening/

It will help you to analyze how Ethereum is outperforming Bitcoin or Bitcoin outperforming Ethereum, it is a flippening index for Bitcoin vs Ethereum.
A lot of data there for Bitcoin and Ethereum. One of the most important there is the market cap, still, 37% for Ethereum to be able reach Bitcoin's market cap. Not even 50%.

online73

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Hello everybody. As long as the cryptocurrency is relevant, Bitcoin will always occupy the relevant and first position. How many years have already been created new, possibly more advanced coins, but Bitcoin does not give up its positions, even in the bull market, even in the bear market. Look at what cryptocurrencies the media write about - all over the world the word cryptocurrency is associated with the word Bitcoin. And what kind of loss of relevance of Bitcoin can we talk about here?..

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