Topic: What if Ethereum replaces Bitcoin someday? - page 2. (Read 8189 times)

It is impossible for Ethereum to compete with bitcoin and taking it's place as the number one cryptocurrency because since 2018 and 2019 ETH didn't make any great performance that everyone are now waiting for it's new development which the ETH 2.0 because they assume ETH will become good again.

We previously had the probability of flippening before, however this circumstance didn't happen. We can't foresee what might occur and regardless of whether it occurs, I accept that it won't keep going long. Many individuals know Bitcoin, yet they don't know different cryptocurrency and bitcoin and until they don't do claim contemplates

I agree on you mate, I invested before to Eth and I find it profitable somehow but in today's competition where lots of coins woth better features are entering, I felt that Eth's competitiveness is decreasing that's why I pull out and just stick with bitcoin. I guess I made a right decision after all .

Going back to the main question, I think nothing significant will happen if Eth become the new rank 1 (though slightly impossible to happen) aside that it will now get more adoptions than before and maybe this forum will change too like adding Ethereum Discussion etc. etc. I don't know just a maybe .

Whats the total supply of Ethereum?  Exactly.

I am hearing this ever since 2014, when they conducted the Ethereum ICO. Back then, I decided against participating in the ICO, because I believed that ETH had no chance of offering any competition to BTC. Earlier (in 2013) I had invested in coins such as LTC and NMC. These coins gave me good returns, but in 2014 they went down and the future prospects were not looking great. Anyway, it was a bad decision to not invest in ETH back then. But that said, I expect the market share of Ethereum to go further down in the coming years. There are better platforms out there if someone want to go for smart contracts. And the smart contract sector has not really taken off, as much as some of us would have liked.

it will be difficult for altcoin to reach the top level, there are only a few that might be paired with Bitcoin. and one of them was Ethereum, but Ethereum certainly would not be king he would be empress for Bitcoin

It could possibly happen but doesn't mean it is going to happened. I think Ethereum has a lot of potentials and could be the closes altcoins that could replace bitcoin in the future. But I cannot think that bitcoin is going to be replaced but ethereum, to be honest, I think it is not going to happen because bitcoin is already established in the market comparing to the ethereum it needs to have a lot of adjustment and also get a high demand from the community.

Also, Ethereum cannot easily replicate bitcoin when it comes to technology some of the people say that it is more developed than bitcoin but still we could see that bitcoin is still number one in the market so I think maybe in the future new technology could arrived that could replace bitcoin or as a new currency.

Bitcoin is the first originator of the creation of blockchain and the growth of bitcoin is growing faster while ethereum which is altcoin is still very difficult to crawl forward so I think ethereum will never replace bitcoin

Do you mean replacing bitcoin in terms of marketcap and popularity? Very possible but I think Bitcoin is still in the upperhand in the long run unless there is a major bug/damage on the codes. Thats where ethereum will exceed Bitcoin but if there is only continuous development on both then it will not gonna happen.

As long as Ethereum supply growth continues, I think this will not change for the better. If we look in detail, each year Ethereum continues to grow by almost 5 million. This will not make Ethereum prices increase, because Ethereum circulation is too high.

in my opinion bitcoin will never be defeated by ethereum, because bitcoin is the first pioneer and many people prefer to use bitcoin as a transaction, so even though ethereum has a smart contrat system, but still people will use bitcoin to make transactions and besides that there are still many people who still believe to investing in bitcoin rather than ethereum, so I'm sure if bitcoin will continue to be the king of all cryptocurrency and no one can beat bitcoin (including ethereum).

That's certainly true, mate. You can't beat something that started it all in the first place. Bitcoin, being the originator of Blockchain technology, has been a trusted cryptocurrency over the years. It is that trust which has prevented it from falling any lower in market capitalization. The Ethereum blockchain, although superior than Bitcoin in its technical aspects, has a lot to catch up before it becomes a real threat (if any) to Bitcoin. I'd say that the world's second-largest cryptocurrency by market cap (ETH) serves more as a complement to the main Bitcoin blockchain than anything else.

The real deal would be the transition from ETH's current PoW algorithm to PoS. Things will become interesting by then, as people will be hoarding more the cryptocurrency than they would ever sell. This could allow ETH's prices to rise like never before, due to the increased demand of the cryptocurrency across the market. While market cap will also rise, I don't think Ethereum will be able to "flip" Bitcoin anytime soon. The gap between both cryptocurrencies' market caps is very wide.

According to my calculations, Ethereum would need to be worth more than $1,568.15 per coin with the current circulating supply of 109,499,251 ETH to be able to surpass Bitcoin in market cap. That is, of course, if Bitcoin remains at its current price of $9,439.25 per coin. Considering that ETH and other altcoins rise in price once Bitcoin goes to the moon, it's practically impossible for ETH to become the largest cryptocurrency in the world. Despite this, Ethereum is bound to bring many excitement to the crypto space. The diversity of programming languages, greater scalability, increased privacy, and more, would make Ethereum one of the best blockchain networks in the world alongside Bitcoin. Combining both BTC and ETH, you'll get a massive ecosystem that gives banking to the unbanked without the need to rely on third parties (governments, banks, etc.) ever. And that's what matters after all. Just my opinion

if Ethereum can replace Bitcoin, then people will switch to investing with Ethereum which is more expensive and profitable. but I think it is quite impossible if ethereum can replace Bitcoin in this cryptoqurrency space, I believe only bitcoin can survive and always dominate the cryptoqurrency market.

I don’t think it will happen. They are not direct competitors, so there is to way for ETH to take Bitcon’s place. It’s just different. However, if you mean replacement in terms of price dominance, then I think that everything is possible. Luckily, I own both coins.

This discussion has been going on for a long time if Ethereum may become greater then Bitcoin, back in the day everyone was talking about the flippening (Ethereum overtaking Bitcoin) and that was when Ethereum was around 3$ per Ethereum.
I don't think Ethereum can replace/become the number one Cryptocurrency anymore, Bitcoin will always be the Mother of all Cryptocurrency and it will be hard to beat.

But when Ethereum is going to Ethereum 2.0 it will be interesting to see what it will do with the price, also Ethereum is not fully utilized yet and when it will be used for all that it can do.
That will still take time and Ethereum is still being improved with in 2020 some good improvements, one of them being that smart contracts can be written in multiple coding languages not only solidity.

based on what i see that ethereum can be said to be the second largest altcoin after bitcoin. ethereum has many advantages that bitcoin doesn't have, especially as a smart contract for the ico project. but in terms of the price of bitcoin far superior to ethereum, I cannot fully compare this crypto, but I believe that these two coins have great potential for future investment.

From the topic, I want to say that, it is a good thing to dream. Now, I am not saying that It cannot be possible, but, It will be very difficult for this to happen.

Vitalik Buterin himself once said that bitcoin is an analogue of gold, and Etherium is an analogue of oil. I think that in real life we will not be able to buy goods for oil soon after crossing out the intermediary in the form of its cash equivalent.

In reality, XRP never became the 2nd ranked cryptocurrency. The methodology for calculating the market capitalization of cryptocurrencies is flawed. In case of XRP, anywhere from 80% to 90% of the circulating supply is not in free-float. So the exchange rate of the remaining 10% to 20% is inflated. And they use the exchange rate of this 10% to calculate the market cap of Ripple. The actual market cap would be much lower than this amount.

To add more to your statement. Eth dropped to top 3 when xrp took over the 2nd spot last year I really though that was the downfall of eth. That alone is the basis whether eth could replace bitcoin or not. I don't even see an alt in the market that come closer to where btc is today sitting atop of everybody with a very very far gap.