What needs to happen for Ethereum to overtake Bitcoin?

aleksnutis

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Quote from: reactorjuno on August 31, 2018, 06:37:55 AM

I am bumping this thread.

I am aware this is an old topic, it was starting by me in February this year and what a (terrible) ride it has been since... I am still interested to hear some opinions though, mainly from educated cryptolovers. In a recent interview I read, Joseph Lubin (co-founder of Ethereum) was explaining that dropping prices will not slow the development of blockchain infrastructure and will not prevent more and more people to adopt it. Fair enough, but cannot deny things have not gone exactly as planned.

Quote from: BTCLovingDude on February 22, 2018, 09:18:12 AM

that is something that will never in a million years going to happen and your question has no answer even if we try. people are saying some stuff but none of it makes any sense in my opinion.

and you are all forgetting the first thing: extremely huge supply of ETH compared to bitcoin. and also no cap. these two alone will ensure that ETH will never grow more than a certain level.

This seems to be the main reason why Ethereum has been a real bubble, if we compare it two Bitcoin, very different characteristics indeed.
Thanks for this post.

More constructive opinions welcome.

If we consider this issue globally, then the etherium should replace bitcoin in terms of a financial asset. Now, first of all, futures for bitcoin were considered and they will consider ETF for bitcoin. So the etherium should become such an asset, which will be considered and offered in the first place, and for this it needs the recognition of institutional investors and other major players.

reactorjuno

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I am bumping this thread.

I am aware this is an old topic, it was starting by me in February this year and what a (terrible) ride it has been since... I am still interested to hear some opinions though, mainly from educated cryptolovers. In a recent interview I read, Joseph Lubin (co-founder of Ethereum) was explaining that dropping prices will not slow the development of blockchain infrastructure and will not prevent more and more people to adopt it. Fair enough, but cannot deny things have not gone exactly as planned.

Quote from: BTCLovingDude on February 22, 2018, 09:18:12 AM

that is something that will never in a million years going to happen and your question has no answer even if we try. people are saying some stuff but none of it makes any sense in my opinion.

and you are all forgetting the first thing: extremely huge supply of ETH compared to bitcoin. and also no cap. these two alone will ensure that ETH will never grow more than a certain level.

This seems to be the main reason why Ethereum has been a real bubble, if we compare it two Bitcoin, very different characteristics indeed.
Thanks for this post.

More constructive opinions welcome.

aces777

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Both serve different purposes. Bitcoin is used as a store of money or payment system. While, Ethereum is a software platform for developers to deploy smart contracts and decentralized applications.

Bitcoin is always going to have an advantage over Ethereum as a first mover. As long as it manages to keep on innovating, overtaking Bitcoin isn’t going to be that easy.

Vit83

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At least ethereum must have limited supply) You cant print money non stop without loosing it value) If count it like fuel for world computer it must be cheap.

Ngemmeng

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Maybe if for overtaking I guess a little improbable. because I think it's too far to compare nominal.

reactorjuno

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Quote from: ukw on February 22, 2018, 11:32:48 AM

Quote from: reactorjuno on February 22, 2018, 08:07:39 AM

Hello dear community. I am 75% Ethereum right now, and I am wondering if there is a scenario in which Ethereum would come out on top (over Bitcoin).
What's a bit annoying is that whenever Bitcoin goes down, Ethereum goes down as well, which is not very logic since both coins have different purpose.

Share your thoughts please.
Thank you.

My personal opinion is that sooner or later Ethereum will overtake the BTC. But honestly, I do not know what must happen with this to be done. We just have to wait and see. In my opinion, this not going to be the next two years.

My little advice is not to sell the Ethers you have.

Thanks, I actually made money with Bitcoin but sold recently. The money I earned is exactly the investment I got in Ethereum, so in the end I will lose nothing, or win big (I also have 0.31 Bitcoin Cash that I honestly don't know what to do with now, sell? not sell?).

reactorjuno

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Quote from: bitmover on February 22, 2018, 08:50:06 AM

Quote from: reactorjuno on February 22, 2018, 08:07:39 AM

Hello dear community. I am 75% Ethereum right now, and I am wondering if there is a scenario in which Ethereum would come out on top (over Bitcoin).
What's a bit annoying is that whenever Bitcoin goes down, Ethereum goes down as well, which is not very logic since both coins have different purpose.

Share your thoughts please.
Thank you.

I am a bigger fan of bitcoin than ethereum.

Bitcoin is important not because it has low transactions fees, or because it´s fast...
It grew wildly without a central planner, or a known founder. It´s 100% secure, never been hacked, code never changed.
Bitcoin has almost 10 years old. Survived numerous attacks and never died, only got back stronger.

The anonymous identity of bitcoin founder was the most brilliant idea. A true altruist attitude.

I like ethereum very much, it´s 30% of my holdings, but I think ethereum has some problems that bitcoin doesn´t have or have already passed.

Ethereum is too centralized on Vitalik. Vitalik has already changed his code... will it be changed again for some other reason?
Ethereum is very new. Has not yet been tested like bitcoin has... I think too much depends on Vitalik.

I think ethereum may overtake bitcoin, its possible... but I do not think it´s probable.

Bitcoin "low transaction fees"?? How? Even with Segwit the fees are still not cheap at all.
Compared to Ethereum anyway and lots of other coins.

"The anonymous identity of bitcoin founder was the most brilliant idea. A true altruist attitude. "

Bitcoin is not really anonymous.

Maheshkumar_Hrangkhawl

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Ethereum is technologically superior to Bitcoin. But still, Bitcoin enjoys the advantage of being the first and original crypto-currency. So if Ethereum has to be the number one crypto-currency, then Bitcoin needs to go down as a result of some of its own faults.

Diced90

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Get'em boys

its a bit complicated with how ethereum gets to overtake bitcoin and FYI its not impossible and one way I see this happening is if the devs get to agree tto have eth replace btc as the base currency so that other coins can be valued based on how ethereum performs which is why we currently see eth go down when btc goes down because btc is the base currency.

ukw

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Quote from: reactorjuno on February 22, 2018, 08:07:39 AM

Hello dear community. I am 75% Ethereum right now, and I am wondering if there is a scenario in which Ethereum would come out on top (over Bitcoin).
What's a bit annoying is that whenever Bitcoin goes down, Ethereum goes down as well, which is not very logic since both coins have different purpose.

Share your thoughts please.
Thank you.

My personal opinion is that sooner or later Ethereum will overtake the BTC. But honestly, I do not know what must happen with this to be done. We just have to wait and see. In my opinion, this not going to be the next two years.

My little advice is not to sell the Ethers you have.

kryptqnick

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Quote from: eugenefonts on February 22, 2018, 08:20:06 AM

Quote from: reactorjuno on February 22, 2018, 08:07:39 AM

Hello dear community. I am 75% Ethereum right now, and I am wondering if there is a scenario in which Ethereum would come out on top (over Bitcoin).
What's a bit annoying is that whenever Bitcoin goes down, Ethereum goes down as well, which is not very logic since both coins have different purpose.

Share your thoughts please.
Thank you.

My thought is because BITCOIN is very popular for the newbies or newcomer of crypto because they only knew bitcoin and never heard of other altcoins.

eugenefonts, you are probably right about the reason bitcoin is still #1. It is a lot more popular than any other currency and most of people start their acquaintance with this sphere with bitcoin. A lot of them never go further. There are also other reasons for it to be #1: it is the most used coin, with the strongest community, partners and so people trust it more than other things.
Ethereum has better technology, but it has big problems with ensuring safety of one's funds. This problem is definitely to be sold if eth is to compete with bitcoin.

erickkyut

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It is not impossible for Ethereum to overcome Bitcoin but if ever that will happen, I think that Ethereum still has a long way to go. Right now, both coins have different disadvantages. They need to work on it first andthat will be ome of the deciding factors which coin will emerge victorious in the future.

bucksman5233

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That is because ETH is also traded against BTC. BTC has first mover advantage which ETH lacks in.
So if ETH needs to overtake Bitcoin then wide adoption of it is required. More number of ETH/Fiat pair extra must pop up in every country.

cryptotsunami

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Quote from: reactorjuno on February 22, 2018, 08:07:39 AM

Hello dear community. I am 75% Ethereum right now, and I am wondering if there is a scenario in which Ethereum would come out on top (over Bitcoin).
What's a bit annoying is that whenever Bitcoin goes down, Ethereum goes down as well, which is not very logic since both coins have different purpose.

Share your thoughts please.
Thank you.

The reason why Ethereum cannot overtake Bitcoin is because Bitcoin is the first cryptocurrency in the market. Most widely use and has more merchants than any other altcoins. Bitcoin has been tested through time and have a very strong foundation above any altcoins. Ethereum is too dependent with Vitalik, just imagine if Vitalik would die, do you think there is no impact on this altcoin? that is one advantage of bitcoin because the developer is anonymous.

entr

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I am ready to abandon bitcoin but popularity of Bitcoin make it valuable. Only way to eth overtake bitcoin is finding serious vulnerability in Bitcoin that cause so much harm to the market. Otherwise it's not possible for a while.

djamielove

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I just think it just needs to keep going in the same direction honestly.

It is already having the most transactions, it is growing in price and the community size and as long as ICOs keep using it as the main payment source it will keep growing. Remember it is a lot younger than Bitcoin.

Valzador

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Quote from: reactorjuno on February 22, 2018, 08:07:39 AM

Hello dear community. I am 75% Ethereum right now, and I am wondering if there is a scenario in which Ethereum would come out on top (over Bitcoin).
What's a bit annoying is that whenever Bitcoin goes down, Ethereum goes down as well, which is not very logic since both coins have different purpose.

Share your thoughts please.
Thank you.

it will probably take a very long time, which is about 10 to 15 years away, do not regret in the future, buy as much as possible now

Eddyc

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Interesting your point of view and comment, but it is the obvious, all altcoins in the current moment depends on the concept, vision and prices of Bitcoin. In the market its influence is 95% how to expect the return of Ethereum with its moment in downfall?(Bitcoin). An analysis to think about.

BTCLovingDude

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BTC to the moon is inevitable...

that is something that will never in a million years going to happen and your question has no answer even if we try. people are saying some stuff but none of it makes any sense in my opinion.

and you are all forgetting the first thing: extremely huge supply of ETH compared to bitcoin. and also no cap. these two alone will ensure that ETH will never grow more than a certain level.

AnIncident

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Quote from: reactorjuno on February 22, 2018, 08:07:39 AM

Hello dear community. I am 75% Ethereum right now, and I am wondering if there is a scenario in which Ethereum would come out on top (over Bitcoin).
What's a bit annoying is that whenever Bitcoin goes down, Ethereum goes down as well, which is not very logic since both coins have different purpose.

Share your thoughts please.
Thank you.

It is quite possible at some point. The thing is (as you pointed out) the two are have totally different purpose. So it's like comparing the Tesla revenues VS Apple's. Both are tech companies, but have little in common. Bitcoin is still the top cryptocurrency and for good reasons, but a shift in the field can happen in no time. It depends on the community I guess.

Topic: What needs to happen for Ethereum to overtake Bitcoin? (Read 208 times)