Topic: What if Ethereum replaces Bitcoin someday? - page 3. (Read 8189 times)

That's certainly true, mate. Bitcoin is great for finance, due to its unmatched security against 51% attacks. Ethereum has a lesser degree of security than Bitcoin, meaning that it's not meant to be used as a reliable cryptocurrency for digital payments. After all, Vitalik designed Ethereum to serve as a platform for the development and execution of smart contracts that are censorship-resistant. There are many other uses within the Ethereum blockchain, the same way there are within the Bitcoin blockchain. If we were to make a comparison between said cryptocurrencies and real-world assets, you'll notice that Ethereum is more like "Oil" while Bitcoin resembles "Gold" in every way. Without Ethereum, people cannot execute decentralized applications on its blockchain network as it's the "fuel" required to perform worldwide computations. On the other hand, without Bitcoin, people cannot enjoy financial freedom where they get to control their own money (instead of greedy banks).

In terms of technicalities, we cannot deny that Ethereum is far superior than Bitcoin in every way. But, Bitcoin will always be the #1 cryptocurrency of the world because it has established a trusted brand that many people are fond of. The first thing they come up when joining the world of crypto is Bitcoin, not Ethereum. Considering that altcoins rely on Bitcoin to survive, I'd say that it's nearly impossible for the pioneer cryptocurrency to be replaced anytime soon.

Nonetheless, I believe that Ethereum will continue to grow alongside Bitcoin for many years to come. It serves as a complement to the main Bitcoin blockchain, than a competitor. With Ethereum and hundreds of other existent blockchain networks, Bitcoin can enjoy reduced stress on the network due to decreasing transaction load. The world's second-largest cryptocurrency by market cap has great ambitions for scalability than Bitcoin itself. With increased adoption of ETH, people will also come into BTC, benefiting both networks for the foreseeable future. Just my opinion

Never think that one day ETH could replace Bitcoin in this market. Basically, ETH cannot compete with bitcoin in terms of dominance in this market, how can ETH price go as high as bitcoin with an unlimited supply? Also ETH should be careful in the future because I believe there will be a few altcoins that will surpass it in the next 2-3 years, XRP and NEO will be the biggest rivals.

I think ETH can replace BTC and the reason is the difference between ETH and Bitcoin. The fact is that Bitcoin is nothing more than a currency, whereas Ethereum is a ledger technology that companies are using to build new programs. Both Bitcoin and Ethereum operate blockchain technology, however Ethereum's blockchain is far more robust.

This king really has a strong dominance when he always attracts all investors regardless of good or bad conditions, and the very positive results are what we need to discuss, so many years have passed, Bitcoin is always rated as an investment that never brings loss as long as we still hold while the investments behind bitcoin are ethereum, xrp, litecoin, good moments never last too long, just for a while and then remain silent in the market. So when looking at the reality, the opportunity for ethereum to push bitcoin behind is no hope at all, Bitcoin has been an eternal product and cannot be surpassed for any reason

Oh it will happen. The question is not if,  it is when.  I cannot tell you when,  take this from me. "Ethereum will surpass Bitcoin one day"

I agree, there is a possibility that it could be on top and because of the supply of bitcoin and the reward are being halve then it has chance. Since a lot of projects are using the technology of Ethereum then it really affect the price to go down since a lot of those project are doing an exit-scam and that could be the reason on it is not still rising it value.

And once the value of BTC pumps up and for sure that Ethereum will follow up and maybe hit the ATH last 2017. And i think it will happen for sure.

Ethereum has the potential to rise above bitcoin someday as it is now being adopted by many projects and companies in creating smart contracts. The ethereum platform also rapidly is being developed and upgraded. But with the dominance of bitcoin in the market right now, I don't see ethereum outpacing bitcoin anytime soon.

Indeed, no one has said that there will be who can replace bitcoin, but as long as the name suggests technology might happen that ethereum can replace it. but it takes time and hard work from ethereum, the first is to improve into ethereum itself and not accustomed to having to depend on bitcoin. but it does take time and hard work and is not easy for implementation to happen quickly. because bitcoin has grown and has become a reference for almost all altcoin.

ETH chain does not aim for a single transaction system and only focuses on smart contracts that open space for many coins that want to be involved in the network, the ETH function cannot yet be measured to defeat bitcoin because it is still focused on network development, so not just because of popularity because eth is clear have it. It is more appropriate to refer to ETH as the king of altcoin for now.

I honestly say that at any time no one will be able to defeat bitcoin, including ethereum. Even though ethereum can be used more
for payment, even ethereum technology is above bitcoin. But bitcoin is still stronger than ethereum, because bitcoin is more popular.
It can be proven that bitcoin has always dominated the market until now. Therefore, it is impossible for ethereum to replace bitcoin,
so it's not wonder bitcoin is called the king of cryptocurrency.

Eth will not replace Bitcoin, it needs to be remembered, Ethereum can be a payment tool other than Bitcoin, but to replace it will not be able, Bitcoin has always been the first choice for the world

I think if eth replaced bitcoin someday, then maybe the world has started to use blockchain technology in many services in life and apply them in so many fields, because bitcoin can be viewed like exchangeable currency, and eth as exchange currency in a huge ecosystem where many companies thrive on that platform

It has a chance to recover but by substitute it would never be happen because bitcoin was the most famous until soon. There are a lot of information of bitcoin than ethereum so it would not be happen.

Your opinion is more about technology, but you do not know that this market is more about manipulating prices. Everyone knows that ETH and EOS are technologically superior coins than bitcoin. But here we are not interested in technology, it is only a very small part of the growth. In fact, the market is working on a pump and dump price so people can make money every day. Sharks will figure out how to manipulate and make the most money, while small fish like us look at the chart to predict sharks' psychology. This is a vicious circle of people, who invest in technology will often die.

We will be dependents to the big investors with regards to the future of ethereum as they are the source of demand and once the demand of ethereum will surge then it will surely replace bitcoin.

But right now big  whales are favoring bitcoin so the chances to replace bitcoin in the next five years is very difficult, let's just hope that they will change their mind as soon as possible as I saw also the potential of ethereum.

Considering the differences between the two currencies, it will be wrong to compare them, or to debate about one of them replacing the other. Ethereum belongs to a different category of cryptocurrency, and it will never be able to replace Bitcoin. Remember these facts while comparing the two:

1. Ethereum is more of a smart contract platform, rather than a pure cryptocurrency which can be used for payment purposes
2. ETH had a premine of close to 60% of its total supply, while BTC never had any premine
3. The identity of ETH inventor is known and he had made a lot of wealth from his invention. On the other hand, Satoshi Nakamoto remains anonymous and he has never tried to make cash from his invention
4. The BTC developers have acted quick and removed obstacles faced by the users (SegWit, Lightning.etc), while the ETH developers have been very slow to fix their bugs.
5. ETH will be moving to PoS mining algorithm, while BTC will be sticking with PoW.

It will never be possible. Because Bitcoin's technology is not possible to take over. Ethereum requires the use of many updated technologies.But I don't know if Ethereum has any technology of its own.

There is no direct competition among cryptocurrencies. Bitcoin and ethereum works on entirely different model. Bitcoin competitive advantage is its capped supply and first mover whereas ethereum has smart contracts.
They are not at all competing with each other.

Anything can happen later and it is true what you say that if there is a new project that brings a good idea and the team behind it tries as much as possible to develop the project I think there will be a change in cryptocurrency later. But for ETH itself, I don't think ETH will replace BTC and I think BTC will be in the top position for quite a long time.

I don't know what will happen in the future, can ethereum be a substitute for bitcoin in the future? Ethereum does have a lot of diversity as you mentioned above and bitcoin is the parent of crypto. So in my opinion bitcoin will remain number 1 and ethereum will occupy an important position in the crypto world with all the features and facilities that are very beneficial for the crypto world.