Eth could take over BTC or not - page 8.

dansus021

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Quote from: Nrcewker on August 07, 2022, 10:44:54 AM

I don’t think Eth can takeover BTC. I mean , I have often seen people claiming that using of ETH is more complicated due to it’s separate blockchain and smart contracts etc. On the other hand BTC is as simple as that.
We can also compare BTC and ETH popularities and marketcap. These shows how more people are attracted towards BTC.
Moreover BTC are limited in supply, this drives more people crazy about Bitcoins and hence they are fond of storing or buying more BTC than ETH.
So I don’t think OP, it never gonna happen.

Yep I do agree with you I know eth is be super crazy right know but remember that eth is infinite supply even they have smart burning mechanism too.

and not just that bitcoin have segwit address that drive fee cheapest and have lightning network that might be adopt by big exchange and fast too

blockman

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Quote from: S3300 on August 07, 2022, 09:25:25 AM

With PoS coming and Gas fee finally getting fixed do you think that Ethereum is capable of overtaking bitcoin?

No.

Quote from: S3300 on August 07, 2022, 09:25:25 AM

Oh also there will be max supply for Ethereum finally too, or is this expectation of mine way too high.

Every time we see an update from Ethereum or any other top cryptocurrency, there's always this thinking and question if it's possible to replace bitcoin as the top crypto in the market. Let's say that there are valid arguments talking about obsolete technologies being left behind and they're comparing it to bitcoin. But if we look at the fundamentals and usability of it, bitcoin is far from being obsolete so let's stop thinking about it that it is going to be replaced.

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If you ask me that question, I would say that your expectation is too high. I think Etherium never can take over btc and I also think Ethereum can be replaced by someone else. Currently, if Ethereum would take over Bitcoin, it price have to be increase about 13.73x. I also think for the dominance of bitcoin it also not possible on future.
I would like to say that as gold and silver can never be one and also silver can never take over gold, just like Etherium can never take over bitcoin. That because they each have specific purposes and features

uneng

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I don't think it's possible. Bitcoin is unbeatable and unstoppable. There is no rival at bitcoin's height. If you want to compare ethereum to something it should be binance coin, then it will be a more proportional clash.

On the other hand, without any doubts ethereum hasn't reached its full potential yet. There is a lot to grow in the near future. The fact is that bitcoin also has a lot to rise too. It means both of them will gain value, but keeping the same distance from each other.

I believe it doesn't matter if you trust more btc or eth, since you believe at least one of them. Personally I would heavily stick with bitcoin, though.

dlightag

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Bitcoin still remain as number one coin in the cryptocurrency market industries, which can't be compared with Ethereum. Every Alt-coin are created in difference purpose, which Bitcoin is superior to other Alt-coin in the cryptocurrency market.

cryptomaniac_xxx

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Quote from: ice18 on August 08, 2022, 01:30:30 AM

If bitcoin will fail in the near future then possible eth will take over but looks this not gonna happen btc has the most secured network in crypto, If I were to ask to choose on this two coins I still choose the king Bitcoin, no explanation.

And the main thing about bitcoin is it is decentralized, as compare to ethereum that is becoming centralized like every iteration they released. There are still a lot of consensus on ethereum in this community, it's pretty obvious. But I highly doubt that there will be a time that ethereum will become more recognizable against bitcoin in terms of it's popularity, hence the price flipping. Bitcoin has put some separation from the rest of the crypto and I think it will remain like that in the next decade of so.

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Maybe, anything's possible.
In the current market the value of all coins is speculative. Cryptocurrency and bitcoin is yet to reach a point where its usefulness will be ubiquitous. And when that happens, technology will surpass speculation(opposite of the current valuation). Only in that future, ETH can become more valuable than bitcoin. Emphasis on "may", because ETH is on a very dark path of centralization and Vitalik treats ETH as his creation with full control over it.

Hopefully BTC L2 network will shine in that future

A truly decentralized payment network independent from banks and government which is capable of handling millions of transactions at any moment will win.
Again, it may or may not be BTC itself or ETH or some other genius creation that will solve the blockchain trilemma Cheesy

ice18

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If bitcoin will fail in the near future then possible eth will take over but looks this not gonna happen btc has the most secured network in crypto, If I were to ask to choose on this two coins I still choose the king Bitcoin, no explanation.

Reid

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Your expectation is too high. I believe in Ethereum too but not going too far as taking over the King BTC.
What will happen is, we will see the difference in POS and POW mechanism. Maybe this will be a good learning point for new investors and users of cryptocurrencies to compare the top coins in the market.
Although, I still believe Bitcoin will be the first choice. Just the mere fact of how the market reacts whenever it is being pumped or dumped is the reason why.

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Quote from: makishart on August 07, 2022, 10:42:48 PM

It's possible but the thing that makes it quite impossible is you didn't think that once ethereum was going up and then bitcoin will be doing the same thing as well. Let's say that once ethereum will be increasing even faster than bitcoin just like 50% but bitcoin can also did 30% - 40% increase.
that means the possibility for ethereum to surpass bitcoin is always there but it may become the most difficult task for ethereum.
Merged and burn mechanism will not make ethereum instantly surpassing bitcoin in a few months or quarter.

that means bitcoin is still ahead and still the first. bitcoin affects all altcoins including ETH although eth is experiencing significant development. with ethereum 2.0 will certainly improve the ethereum blockchain which aims to increase the speed, efficiency and scalability of the ethereum network, so that it can process more transactions and reduce network congestion, this also makes fees cheaper.

But remember that Bitcoin also has a Lightning Network and of course it will be faster in processing transactions and the fees are very cheap. Bitcoin is still king and still irreplaceable.

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Quote from: Desscount on August 07, 2022, 11:44:42 AM

Quote from: S3300 on August 07, 2022, 09:25:25 AM

With PoS coming and Gas fee finally getting fixed do you think that Ethereum is capable of overtaking bitcoin? Oh also there will be max supply for Ethereum finally too, or is this expectation of mine way too high.

I think converting Ethereum PoW to PoS will not work well for the future, because we know that Ethereum can be priced at $1000 like it is now because Ethereum is a lot of people like it,
one of the advantages of Ethereum is mining and it is already being mined all over the world,
if Ethereum switch to PoS, then what happens to the miners?

A coin becomes more centralized and controlled by exchanges, sharks...I don't think it will take over bitcoin. ETH is an altcoin that has the same POW algorithm as bitcoin and is considered the most decentralized altcoins. The upgrade to POS is a positive for the ETH blockchain in terms of gas fees and network scalability, but it will be a major downside to becoming centralized, going against the cryptocurrency's slogan of decentralization.

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Quote from: S3300 on August 07, 2022, 09:25:25 AM

With PoS coming and Gas fee finally getting fixed do you think that Ethereum is capable of overtaking bitcoin? Oh also there will be max supply for Ethereum finally too, or is this expectation of mine way too high.

I can say this is impossible, with PoS data, fixed Gas costs and maximum supply there is also no possibility that Etheruem will overtake bitcoin, Bitcoin and Ethereum user cases are quite different, overtaking you mean whether it relates to price, coin strength or number of users to usage one of them, because the price difference for the two coins is currently quite far, so price overtaking is not possible for now

Gayong88

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I personally believe that Bitcoin will have a long and good future ahead of it and I think it is important to take a long term view. In the long term, Ethereum seems to be in a good position to grow and develop after BTC, Ethereum being one of them https://imgur.com/a/jEvmL6B from the data may be able to describe how the potential in the future.

makishart

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It's possible but the thing that makes it quite impossible is you didn't think that once ethereum was going up and then bitcoin will be doing the same thing as well. Let's say that once ethereum will be increasing even faster than bitcoin just like 50% but bitcoin can also did 30% - 40% increase.
that means the possibility for ethereum to surpass bitcoin is always there but it may become the most difficult task for ethereum.
Merged and burn mechanism will not make ethereum instantly surpassing bitcoin in a few months or quarter.

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Quote from: S3300 on August 07, 2022, 09:25:25 AM

With PoS coming and Gas fee finally getting fixed do you think that Ethereum is capable of overtaking bitcoin? Oh also there will be max supply for Ethereum finally too, or is this expectation of mine way too high.

It's possible, but I don't think it will happen anytime soon, a lot of new projects on the ethereum network are mainnetting and having their own blockchain.
the market cap will eventually decrease and in contrast to Bitcoin, Bitcoin has a large market cap, more than 50% and that's a large capital

adaseb

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This was discussed for many years. And there was a time in the past before the Segwit fork that ETH came very close to surpassing Bitcoin market cap, however it never actually surpassed. Because Bitcoin agrees to activate the Segwit fork.

Will it surpass sometime in the future? Who knows. It might or might not. Right now there is too much uncertainty especially with the merge fork. And there are always tons of bugs that needs to be worked out.

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Let's make a quick math.
With the current marketcap of Bitcoin, divide it by the current circulating supply of Ethereum, you will get $3,709.73 so in order for Ethereum to be higher than Bitcoin in terms of market cap, Ethereum's price must be higher than $3,709. Do you expect Ethereum to jump more than twice just because it converts from a POW to POS?

Let's be realistic. It will not happen and I believe it will never happen. Ethereum's price movement is still depends on how Bitcoin moves so don't think that Ethereum will take over Bitcoin just because of one single update. There is no guarantee as well that Ethereum's price will jump after the update/s.

There are some aspects where Ethereum is better than Bitcoin and vice-versa but in terms of market cap, no one can take over Bitcoin.

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Quote from: S3300 on August 07, 2022, 09:25:25 AM

With PoS coming and Gas fee finally getting fixed do you think that Ethereum is capable of overtaking bitcoin? Oh also there will be max supply for Ethereum finally too, or is this expectation of mine way too high.

It's capable even if POS was not coming and ethereum would always be capably to over taking bitcoin. Your expectation was not too high. Ethereum has ever overtaken bitcoin a few years ago but if bitcoin mining become even harder and i think that would be quite difficult for ethereum to over take bitcoin. The key was not post but how to prevent the inflation that happened in ethereum and bitcoin. That means if ethereum was getting fixed on its inflation and bitcoin was also doing it.
I shall remind you that if bitcoin also also becom deflationary assets which lead if the total supply can be less and less.

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Quote from: S3300 on August 07, 2022, 09:25:25 AM

With PoS coming and Gas fee finally getting fixed do you think that Ethereum is capable of overtaking bitcoin? Oh also there will be max supply for Ethereum finally too, or is this expectation of mine way too high.

Take over in what way? market? adoption? price? or investors? NO
Bitcoin has something that ETH does not have, the advantage of Bitcoin is not only supply or scarcity, but a more acceptable global level without sole proprietorships, companies, and also one blockchain does not have roots everywhere. Personally I don't think Ethereum can have that place.

gurunanakji777

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Many people talk about this but if we see the current market scenario it's not easy for Ethereum to take over BTC. Anything can happen in the future but in the next 3-5 years I don't see it's gonna happen. No doubt Ethereum has huge potential but we can not deny the popularity and demand of Bitcoin among investors still BTC is the first choice of investors. Let's see what brings the next upgrade or implementation to the Ethereum blockchain.

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