Topic: What if Ethereum replaces Bitcoin someday? - page 20. (Read 8194 times)

I do not know if Ethereum 2.0 can bring such a revolutionary breakthrough but even, in this case, ETH will not replace Bitcoin. Only Bitcoin has the right to be called a real decentralized repository of value. In addition, only the first cryptocurrency has passed the long way from a narrow circle of people to the currency that is recognized around the world. Other projects simply entered this market and immediately received a certain price in dollars, taking advantage of the speculative mood of it.

Today I sent the transaction to ETH and by default the gas price was set to 3 in the wallet, I had to wait about two hours until the transaction was sent. It turned out that the Ethereum network is overloaded today and all transactions take a long time. I think it's too early to say that Ethereum can replace Bitcoin until the problem of network scalability is solved.

Actually several times it was a common issue that ETH will replace BTC. Personally i think that could not happen where altcoins price going down day by day. YOu can say BTC price also going down but you should see price difference of ETH and BTC. Last 8 months BTC price was high 3k$ to 12k$ but ETH?? so i can not keep believe with ETH.

I think the fact that BTC will give was for ETH in the future is just a joke, I don't see that happening in the next ten decades.

Personally, I think that ETH missed its moment and is unlikely to replace Bitcoin in the next 5 years, I think ETH itself will be replaced in the future

I have hoped that ETH would be on top of the market during early 2018, but we all know what happened. Right now, BTC is looking great, and ETH is still around 170 bucks, slowly climbing to achieve 200 per coin. Do not think that ETH would make it.

Yes, people are interested in the development of technology and, above all, in the scalability of cryptocurrency. So far, I see that it is Bitcoin that has a big problem in scalability. At the same time, a few days ago, Buterin announced that ethereum would soon have scalability of several tens of thousands of transactions per second. For Bitcoin, this is still unattainable. Therefore, everything can be. Cryptocurrency is developing rapidly and any so far inconspicuous coin can be a leader.

Those two do not exactly make for interchangeable substitutes, however a flippenning might be a possibility

In fact, I see that since 2018 bitcoin has been more and more outstripped by Ethereum and other currencies in terms of capitalization, this is because people are not very interested in technology at the moment. Ethereum, on the other hand, is also having scalability issues.

The 2.0 version of Ethereum might bring a huge boost in price, as people will regain the sentiment of FOMO. However, it looks very unlikely that ETH will replace Bitcoin anytime soon as there is a huge difference in market cap between both cryptocurrencies. In terms of technicalities, Ethereum is superior as it not only provides a means of payment (like Bitcoin) but also other applications far beyond reach. You can do all sorts of stuff with Ethereum, while that's not the case with Bitcoin. In this regard, it's believed that "Ether" will experience an ever-growing demand over time.

Once Ethereum scales towards millions of transactions per second, then its dominance on the market will rise without a doubt. However, I'm afraid that Bitcoin will remain as the leading cryptocurrency because many people trust it over alternative cryptocurrencies. After all, Bitcoin has been tried and tested over the years as the most secure Blockchain to date. Which is why, no other cryptocurrency has been able to take Bitcoin's place as the world's largest cryptocurrency by market cap.

Nonetheless, anything could happen in the future as crypto is highly volatile. At times, Ethereum will be in its ATHs while Bitcoin will be depressed in price and vice versa. What matters is that both cryptocurrencies will be here to stay for a very long time. Just my opinion

I agree with you, it's always the network of people is the reason why bitcoin is successful over any coins in the market.
The competition is only possible in the altcoins market because bitcoin alone can beat the entire altcoins with its dominance of 70%.

People may change their minds and will choose to invest in altcoins but in terms of consistency, it is still bitcoin which is the most heavily invested.
I witness the time when BTC dominance was down to 30% IIRC, and altcoins pump hard at that time, but look where they are now.

I think Ethereum and Bitcoin are way too different for things to be put so simply. I am also an Ethereum fan, but facts are facts and Bitcoin has the largest development team and the largest/strongest network, yes, it is a bit outdated, but as it aims to be a store of value, that is just what it needs to offer... Ethereum is more about blockchain being put into practical use... and wheter we like it or not, BTC is the closest to true "digital money"

I sincerely do not see the possibility of that occurring. Let me ask, in what areas do you think ethereum can replace bitcoin. Because if we consider their functions, its quite different from each other. Bitcoin is strictly finance and Ethereum is more of a platform that other projects leverage on using he smart contract features iin it. That also advises on the price. Again the total supply and circulation of both coins don't match. The year on creation is another fact to consider. I don't see the possibility of a replacement but the can cohabit under the tech comfortably

I quite agree with you on this . Ethereum has all it takes to replace Bitcoin as the top crypto-currency in the near future but the promoters in my opinion have to do more if this dream of it displacing bitcoin from the top will see the light of the day

I do not like to think that way, see every coin is unique and when we talk about the top 2 atleast im personally a fan of both and we have to accept the fact that they both have their own features and uniqueness which will keep them alive and both can survive in there own spots so we should look to accumulate both and not think the other way.

Ethereum has great prospects, though it may be gradually updating its 2.0 version but then it has proven beyond reasonable doubt that it has the potentials of appreciating in value and operations. To what magnitude of update and upgrade it can attain before fulfilling such target, we are yet to known but then it can if it get upscaled. In all of its features

No. It won't. I don't see it happening now or even in future.  Have you checked the market cap of Bitcoin? That alone dwarfs all altcoins put together. Not only that, the total supply of bitcoin is much lower than that of Ethereum, meaning scarcity will be higher for btc than eth which translates to btc having more value

That's certainly true, mate. Right now, it seems nearly impossible for Ethereum to replace Bitcoin in terms of market cap. There is a huge gap between both cryptocurrencies' valuation. Ethereum would need to solve its scalability problems first if it wants to become the true contender of Bitcoin. Despite its many advanced features, it's very unlikely that it would become extremely valuable in the future because of the way it was designed. Unlike Bitcoin, Ethereum has a limitless supply with an ever-growing inflation rate per year. This makes it terrible as a store of value, making it harder to reach new ATHs in price.

Given the situation of both cryptocurrencies, I'd say that there's a possibility that Bitcoin will remain as the world's #1 cryptocurrency in market cap for a very long time. On the other hand, Ethereum will grow alongside Bitcoin as the second largest cryptocurrency on the market. For specific purposes, each cryptocurrency will be the preference among individuals worldwide. Where Bitcoin cannot fulfill certain tasks, Ethereum fills the gap. The same thing happens vice versa. We could say that Ethereum complements Bitcoin in every way. Rest assured that if somehow Ethereum manages to overcome Bitcoin in terms of market cap, crypto land will behave as usual. The only difference would be that most altcoins will depend on ETH as the reserve currency instead of BTC.

Nonetheless, crypto land behaves wildly at times where certain cryptocurrencies rise towards astronomical levels in price while other fall drastically within a short time frame. The fluctuations in valuation can either make Ethereum rise or fall in a matter of seconds. We've seen how XRP has surpassed ETH at times, where it has become the second largest cryptocurrency by market cap. But then, everything changes back to normal. The same thing might happen with both Bitcoin and Ethereum within the not-so-distant future. Just my thoughts

This could happen only if institutional investors invest into Ethereum. But currently they are focused more on Bitcoin. Bitcoin ETFs, Bitcoin hedge funds like Bakkt or Fidelity. 

I think it will never gonna happen that ethereum will replace the bitcoin someday, ethereum is really different from the bitcoin, they have a different features so i believe that it will never gonna happen.