Topic: What if Bitcoin is overtaken by Ethereum in market cap? - page 4. (Read 529 times)
Bitcoin currently has 38% share of the total crypto market capitalization. It's a huge share, and while Ethereum gained some ground over the years, it's still only about twice as big as Bitcoin, so I don't find the event the op describes likely. But even if it happens, I don't think it's the end for Bitcoin or anything. I mean, look at Ethereum that's stably been #2. It also grows in price, and overall experiences similar ups and downs to the price dynamic of Bitcoin. So even if Bitcoin were no longer the king of cryptos, it would still be one of the most reputable cryptos ever.
Never say never, while this might be not realistic today, such a scenario could happen quickly in the future. First of all it would take some prominent investors to push a particular alt coin. ETH might be in a good position right now to eventually break the bitcoin correlation. As long as a drop in bitcoins sends all the other crypto coins down too, it's hard to imagine any coin to surpass bitcoins. But it is just a matter of time for other strong crypto coins to be independent.
If that happens I think we will see a downward spiral for bitcoins. Because many investors just buy bitcoins because it is the largest crypto market. If there is a more successful coin out there I would expect many investors to sell their BTC for that new coin.
If that happens I think we will see a downward spiral for bitcoins. Because many investors just buy bitcoins because it is the largest crypto market. If there is a more successful coin out there I would expect many investors to sell their BTC for that new coin.
Such cycles are referred to as “flippening” I am not surprised and do not faint when it happens, a phenomenon that often occurs in the crypto market, such as: crypto A overtook Crypto B, but this phenomenon never happened to Ether and Bitcoin, it's been almost 13 years.
From year to year Bitcoin always keeps a good value, you can say digital gold is the main point, Bitcoin is also backed by many big investors around the world, to be used as a crypto asset in their portfolio, so what I want to say is: although Ether wants to overtake Bitcoin's position long enough it can happen, In my opinion, because the largest and largest market capitalization from year to year in crypto asset storage is Bitcoin, so investors trust Bitcoin as the most secure asset in the world than Ether, so if you want to see the phenomenon of Ether replace Bitcoin's position, maybe you need 50 years in the future, but can't guarantee and ensure that it can happen.
So, from now on you save as much Ether as possible, maybe 50 years from now, your dream will come true.
From year to year Bitcoin always keeps a good value, you can say digital gold is the main point, Bitcoin is also backed by many big investors around the world, to be used as a crypto asset in their portfolio, so what I want to say is: although Ether wants to overtake Bitcoin's position long enough it can happen, In my opinion, because the largest and largest market capitalization from year to year in crypto asset storage is Bitcoin, so investors trust Bitcoin as the most secure asset in the world than Ether, so if you want to see the phenomenon of Ether replace Bitcoin's position, maybe you need 50 years in the future, but can't guarantee and ensure that it can happen.
So, from now on you save as much Ether as possible, maybe 50 years from now, your dream will come true.
The gold standard of Bitcoin in crypto is not based on the market cap I suppose. Bitcoin is crypto's gold because of its features and not because of its price. In the same manner that gold is the standard even if it is not the most expensive, the most rare, the most coveted, and so on of all precious metals and stones.
Ethereum may overtake Bitcoin's market cap in the future but it can never ever replace Bitcoin's features. At the end of the day, Ethereum is just another creation inspired by Satoshi's Bitcoin.
Ethereum may overtake Bitcoin's market cap in the future but it can never ever replace Bitcoin's features. At the end of the day, Ethereum is just another creation inspired by Satoshi's Bitcoin.
What will happen is that Ethereum will remain a centralized, 70% premined piece of shit and vastly less secure than Bitcoin.
Unfortunately most people wouldn't care about decentralization, until it matters(state level attacks and such). I see a lot of parallels between decentralization and privacy of platforms; whereas a lot of people don't care about their privacy when it comes to the likes of Facebook. Quite an unfortunate truth, but it is what it is.
What will happen is that Ethereum will remain a centralized, 70% premined piece of shit and vastly less secure than Bitcoin.
Whether we like it or not, it seems to have more growth potential in the userbase because of the speculation potential, as mk4 comments, and that would be the main reason why some authors like Raoul Pal see more growth potential.
Whether that argument is correct remains to be seen, but I'll stick with decentralization and security.
Whether we like it or not, it seems to have more growth potential in the userbase because of the speculation potential, as mk4 comments, and that would be the main reason why some authors like Raoul Pal see more growth potential.
Whether that argument is correct remains to be seen, but I'll stick with decentralization and security.
It could happen and it wouldn't take anything away from Bitcoin; probably besides newbies thinking that it's not the "best cryptocurrency" anymore. If it's the case that it happens, Bitcoin will still remain most secure simply because of it being simple and doing it's one job really well.
In a market where there's peak speculation, it just makes sense for Ethereum to overtake Bitcoin by marketcap(most probably temporarily) simply because you can do a lot more speculation with the Ethereum chain(NFTs and tokens and stuff).
In a market where there's peak speculation, it just makes sense for Ethereum to overtake Bitcoin by marketcap(most probably temporarily) simply because you can do a lot more speculation with the Ethereum chain(NFTs and tokens and stuff).
For example, I imagine it would be like silver flipping gold's market cap, (which is practically unthinkable) however, this event would forever alter how gold is perceived, especially by new potential investors.
Platinum has done that in value per kilo though it has many of the same properties as gold, is less reactive, more conductive and used as a catalyst in a lot of places.
I'm not sure if perceptions changed kuch with that as gold didn't seem to do too much better out of it. Eth might be different though but I think there would be a lot more caution by institutional investors due to the increased potential for vulnerabilities (because it has extra functions).
Currently, it is already 52.6% market cap of Ethereum before it will flip Bitcoin on market cap (https://www.blockchaincenter.net/flippening/)
Ok, let's do some "what if" here. For me if ever that will happen, Bitcoin will stay, Ethereum will stay. We all know that they have different capabilities, so I don't so that it is good to compare these two. As you said, Bitcoin can be the gold, and Ethereum can be the silver.
Digital scarcity can be also be threatened if Bitcoin loses the top market cap, I can agree with this, there is a possibility as since the beginning Bitcoin is the first cryptocurrency, always the highest market cap, and since day 1, always the store of value digitally.
Ok, let's do some "what if" here. For me if ever that will happen, Bitcoin will stay, Ethereum will stay. We all know that they have different capabilities, so I don't so that it is good to compare these two. As you said, Bitcoin can be the gold, and Ethereum can be the silver.
Digital scarcity can be also be threatened if Bitcoin loses the top market cap, I can agree with this, there is a possibility as since the beginning Bitcoin is the first cryptocurrency, always the highest market cap, and since day 1, always the store of value digitally.
Or any other alt coin for that matter? I'm wondering if and how it would damage/tarnish Bitcoin's reputation as the Gold standard of all cryptos. I believe it may also affect how institutions view bitcoin, and it may even affect the idea of digital scarcity. No longer can we assume that bitcoin (or its usurper) will remain #1 forever, so how can you imagine it as a safe long term store of value or preserver of wealth? Is the idea of true digital scarcity threatened if bitcoin loses it's #1 rank?
For example, I imagine it would be like silver flipping gold's market cap, (which is practically unthinkable) however, this event would forever alter how gold is perceived, especially by new potential investors.
For example, I imagine it would be like silver flipping gold's market cap, (which is practically unthinkable) however, this event would forever alter how gold is perceived, especially by new potential investors.
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