IF eth takes over from BTC will BTC then face a relative colapse?

Omega Weapon

hero member

Activity: 1092

Merit: 501

Quote from: slowlyslowly on May 30, 2017, 09:56:28 PM

Quote from: jubalix on May 30, 2017, 08:59:09 PM

Discuss

No. They are in 2 different spaces as are Monero, RSK etc although RSK and Etherum may compete.

Bitcoin is by no means perfect but it is bitcoin. Etherum is a fuel if you like to do other things and is not really competing.
Interestingly in the latest crash both the bitcoin and etherum price got hit roughly to the same extent percentage wise if they were competing in theory one would take a much bigger hit than the other? Dunno though as the price of bitcoin seems to have its own funny quirks?.

I think most people holding etherum are also holding bitcoin but not as a protection from one rising and the other falling but rather as the want to share in the possibilities of both.

I don’t think bitcoin and ETH are direct competitors but if they were I suppose that things will move asymmetrically, if bitcoin went up then that will mean ETH will go down and if ETH went up then bitcoin will go down since that was not the case in the past correction I think they are not competitors and while in the past a movement like the one i have described has passed I think we cannot draw a connection like that since most altcoins, and not only ETH, lose ground when bitcoin goes up in the price.

Rahar02

hero member

Activity: 910

Merit: 523

Ethereum simply can not take over, because people still prefer to bitcoin while at current price eth take high fees, how about higher price such as experienced by bitcoin. There are a lot of projects using ethereum as medium of exchange and the price continue to increase, but still there are some potential coins such as byteball and zcash. The main thing is trading volume and people interest at cryptocurrency, bitcoin will remain as the best coin so far and people tend to convert ethereum into bitcoin in the end of the day.

Snorek

legendary

Activity: 1400

Merit: 1001

Ethereum is still many times less popular that Bitcoin is. They only experienced small fracture of problems of really big network.
There is no way that ETH will be ideal coin without any kind of problems, it's good smart contract platform but it still has a long way to go as cryptocurrency.
If both bitcoin and ethereum will be upgraded and scale well, then there is no way that ETH will catch up to BTC, ever.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: brokedummy on May 31, 2017, 10:32:24 AM

eth is just a big fraud to get all the bitcoins, nobody actually uses it or wants to be paid in it. I've made my profit and I'll hold what little I have left, but never going to buy more of this.

I have nothing bad to say against ETH. People already making a profit out of this coin. Will ETH overtake bitcoin in terms of volume of trading or price? I don't think so. The general public has already been mesmerized with bitcoin and it will remain as the top crypto-currency, so technically it will not collapse. The foundation it has been is strong and getting stronger as countries now are adopting and embracing like its local currency. Maybe investors are going to ETH because of the bitcoin issues of increasing transaction fee's, but if this is resolved, I think they will go back to the bitcoin ecosystem and pour a lot of cash in the market.

brokedummy

legendary

Activity: 980

Merit: 1004

eth is just a big fraud to get all the bitcoins, nobody actually uses it or wants to be paid in it. I've made my profit and I'll hold what little I have left, but never going to buy more of this.

michkima

hero member

Activity: 896

Merit: 514

I think it will not happen, like what others have said, ETH is just plainly has bad scaling problems and fees are getting terrible by the day. If it does get more users it is likely the fees will even double up and exponentially will be so expensive the everyone will just forget about it and move back to bitcoins.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: ?? on ??

... and then there are stats like this (published today):

http://www.trustnodes.com/2017/05/31/ethereum-now-three-times-nodes-bitcoin

"The ethereum network has nearly 25,000 reachable nodes, spread across the globe, less than two years after its launch, while bitcoin currently has only around 7,000 nodes that verify the network."

That's thanks to GPU mining. ASIC mining has proven to be poison to Bitcoin's health and vibrance and it's not going away now.

I don't believe Ethereum is any type of replacement, but there's no doubt it could be far bigger in the short term.

BTC has a relatively small window to pull its finger out. It's no longer theoretical. It's a real thing being used by real people who will look for more accommodating options sooner rather than later. And I don't think it's ETH.

ktabb

full member

Activity: 266

Merit: 103

Quote from: jubalix on May 30, 2017, 08:59:09 PM

Discuss

I doubt it. They are both cryptocurrencies and crypto prices tend to move in the same direction. It's like sectors of the s&p500, when banks go up thy all go up. When they go down, they all go down. Same with tech, retail, etc. crypto will likely be no different regardless of who the leader is.

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: klaaas on May 31, 2017, 06:30:47 AM

No, why would it ? As above described, these could work next to each other.

They could co-exist, but the problem is, Bitcoin's main advantage is its dominant position (the 'gold standard'). If it loses the No. 1 place in terms of market cap, it will become just another cryptocurrency and will have to compete with other coins, most of them are faster, cheaper and possibly even more secure (if you consider more factors than just cost of obtaining 51% of hashpower).

In other words, ETH can successfully exist as being No.2, 3, or 10 but for Bitcoin (in its current form) it's either 'No 1' or nothing.

BitDane

sr. member

Activity: 1372

Merit: 348

Quote from: ?? on ??

Quote from: bartolo on May 31, 2017, 06:26:49 AM

Bitcoin is and will always be the main coin...

Depends what you mean by "main coin".

When it comes to "market cap" it's now so obvious Ethereum is going to surpass Bitcoin it's just not funny any more.

Market Cap Grin

This will show how flawed is that to describe about dominance. I do agree ETH is gaining its ground but it is still early to say it will take over BTC. And how many million is ETH again? And what are its uses? Educate me because I think I am noob about ETH usage.

klaaas

hero member

Activity: 1568

Merit: 544

No, why would it ? As above described, these could work next to each other.

bartolo

hero member

Activity: 1176

Merit: 501

Bitcoin is and will always be the main coin and as soon as it solves its problems it will be even more. There is no doubt about the future of bitcoin in the long run. That doesn´t mean that it´s the only one, Ethereum will have its space too, more as a platform than as a coin.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

Quote from: ?? on ??

Ethereum has orders of magnitude x more use cases.

very interesting, can you share some of these "use cases" with us that are not smart contracts?

jubalix

legendary

Activity: 2632

Merit: 1023

Quote from: ?? on ??

Bitcoin won't collapse but... humiliation.

After so much massive FUD from the BTC crowd what will it feel like to be second (I sincerely hope not third behind Ripple)? Then what? Who's the shitcoin now, eh?

There is one simple factor to take into consideration when valuing these things - potential use cases. I love Bitcoin but Ethereum has orders of magnitude x more use cases. That's the fundamental point along with the blatantly obvious fact that infighting is killing Bitcoin.

Watch the flippening happen in real-time here: https://rolandkofler.github.io/flipper/

wow theres even a github for that....qed....doa

Le Happy Merchant

hero member

Activity: 634

Merit: 500

Quote from: ?? on ??

After so much massive FUD from the BTC crowd what will it feel like to be second (I sincerely hope not third behind Ripple)? Then what? Who's the shitcoin now, eh?

The shitcoin will still be ripple.

ngin-x

full member

Activity: 308

Merit: 100

Quote from: ?? on ??

Bitcoin won't collapse but... humiliation.

After so much massive FUD from the BTC crowd what will it feel like to be second (I sincerely hope not third behind Ripple)? Then what? Who's the shitcoin now, eh?

There is one simple factor to take into consideration when valuing these things - potential use cases. I love Bitcoin but Ethereum has orders of magnitude x more use cases. That's the fundamental point along with the blatantly obvious fact that infighting is killing Bitcoin.

Watch the flippening happen in real-time here: https://rolandkofler.github.io/flipper/

Unless something is done to speed up Bitcoin confirmation times, it will likely fall behind Ethereum. ETH and XRP are both insanely fast when it comes to transactions. But I don't think XRP will ever take over Bitcoin because in theory it's a centralized coin and people will always have their inhibitions against it. Crypto crowd are not very favorable towards a centralized platform and rightly so.

Holliday

legendary

Activity: 1120

Merit: 1012

All noise and no signal here.

slowlyslowly

member

Activity: 82

Merit: 27

Quote from: jubalix on May 30, 2017, 08:59:09 PM

Discuss

No. They are in 2 different spaces as are Monero, RSK etc although RSK and Etherum may compete.

Bitcoin is by no means perfect but it is bitcoin. Etherum is a fuel if you like to do other things and is not really competing.
Interestingly in the latest crash both the bitcoin and etherum price got hit roughly to the same extent percentage wise if they were competing in theory one would take a much bigger hit than the other? Dunno though as the price of bitcoin seems to have its own funny quirks?.

I think most people holding etherum are also holding bitcoin but not as a protection from one rising and the other falling but rather as the want to share in the possibilities of both.

illaslli

newbie

Activity: 33

Merit: 0

Quote from: RoommateAgreement on May 30, 2017, 09:28:53 PM

it can't!
because bitcoin will always remain a decentralized currency.

and ethereum will always be a bad platform for smart contract which was never supposed to be a currency. and not to mention the alarmingly high transaction fees of its network (getting closer to $1) which comes from its terrible scaling issue.

Ethereum block sizes scale up linearly over time so eventually it will fix itself, and PoS offers more scaleability than the current PoW they use. I think eventually it will reach a higher market cap than btc but i don't think btc will collapse in the same way all other shitty alts haven't collapsed.

RoommateAgreement

hero member

Activity: 770

Merit: 500

Bazinga!

it can't!
because bitcoin will always remain a decentralized currency.

and ethereum will always be a bad platform for smart contract which was never supposed to be a currency. and not to mention the alarmingly high transaction fees of its network (getting closer to $1) which comes from its terrible scaling issue.

Topic: IF eth takes over from BTC will BTC then face a relative colapse? (Read 1197 times)