In my opinion there will be competition between bitcoin and the other cryptocurrency in the market cap.
as of now i don't see any compitations around the market. 'cause some of the token/alt nowadays is on red due to the bitcoin price which is climbing along with ETH so perhaps if there's an alt that can overtake bitcoin i think ethereum is the one and no other alt. 
Topic: What would happen if another cryptocurrency took Bitcoins place in Market Cap? - page 14. (Read 2651 times)
February 27, 2018, 11:07:52 PM
February 27, 2018, 10:50:36 PM
This is another question that people answers more on speculation ideas, actually other cryptocurrencies today are born when bitcoin is already operated. And if we try to look at the market system of all cryptocurrencies, on how the price of every cryptocurrency being moved, they are all act like a sister company, because when bitcoin down their value all kinds of crypto also follows. We cannot determine that there is a competition in the market about cryptocurrencies. (Correct me if I'm doing a wrong statement.)
February 27, 2018, 10:45:30 PM
In my opinion there will be competition between bitcoin and the other cryptocurrency in the market cap.
February 27, 2018, 10:34:36 PM
So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
I think if that happens bitcoin value will drop and will no longer appreciate the way it did in the past years. The demand will surely divert into alts and time will come bitcoin will become an ordinary crypto. But they are right we don't know what will happen for the future is there always whale but as of now i don't see any possibilities that there's one altcoin who replace bitcoin maybe next step on bitcoin but not replacing on it.
February 27, 2018, 10:30:40 PM
If there is a possibility and when that happens it means the new coin has better technology than bitcoin but currently i dont see any token that could surpass bitcoin. If bitcoin were to be replaced surely the entire community would be shock and would take time to use another new token. It's just hard to think that bitcoin will be overtaken after all the years it has survive.
February 27, 2018, 10:14:40 PM
So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
I think if that happens bitcoin value will drop and will no longer appreciate the way it did in the past years. The demand will surely divert into alts and time will come bitcoin will become an ordinary crypto. February 27, 2018, 09:46:14 PM
There is always a possibility it could happen if the coin that will take over bitcoin would be able to get the trust of the cryptocommunity and will be use for its purpose. We may see bitcoin as a store of value now but we can see that some are using it as payment transaction so it still serve its purpose. It has the advantage of being the most popular cryptocurrency that's why the demand is still high and still holding its throne since the inception of cryptocurrency.
Eventually, another cryptocurrency may be able to take over its throne and if ever it would stay there for some time then we can accept the fact that bitcoin is not the king anymore but if it will happen because the coin is just hyped then eventually it will go down and bitcoin would still be the king. If it stays there then the exchanges would just update their pairings and add the latest king of crypto.
Eventually, another cryptocurrency may be able to take over its throne and if ever it would stay there for some time then we can accept the fact that bitcoin is not the king anymore but if it will happen because the coin is just hyped then eventually it will go down and bitcoin would still be the king. If it stays there then the exchanges would just update their pairings and add the latest king of crypto.
February 27, 2018, 07:56:03 PM
So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
Then there would be a new "KING" if that thing do happen on seeing bitcoin is being overtaken by other altcoins in the market.It would surely be a record and lots of people would be shocked specially to those who hardly believe on bitcoin but we do all know this thing is really hard to achieve,its possible but would really takes time and consideration on the community on switching out into a new coin rather than on bitcoin itself.So lets say theoretically , People saw Bitcoin and saw its many problems involving scalability etc , and dumped all of their BTC for whatever crypto... Say they took the entire market cap of BTC into ETH or XMR...
Wouldn't it be time for people to say goodbye to BTC and accept a new King?
Progress is must to have, there will happen only good things if another currency takes bitcoin's place because of it's better function.
February 27, 2018, 07:53:25 PM
than btc dominance would decrease in the market, the news would talk more about the other king coin than btc and the trades as well as price indicators would be replaced with the other coin.
February 27, 2018, 07:42:40 PM
I don't see why people keep discussing something that potentially might happen, while it has happened numerous times already. Yes, you read that well -- Bitcoin's market cap has been surpassed by a few coins already, and it meant absolutely nothing. Ripple did it twice, and a few utter absolute trash coins did so too. Why? Because of how many coins as circulating supply there is available. Don't forget that Ripple with its 99.99 billion total coin supply has an easy way to inflate its market cap like its nothing. Ripple's most recent all time high was +$3.20, which basically translates into a $320 billion market cap. If Ripple at some point becomes $10, then it will have a $1 trillion market cap, and so forth -- do the further calculation yourself with higher prices.
February 27, 2018, 07:19:14 PM
there would be confusions,wether to change bitcoin and invest to another currency or remain to support bitcoin.we can not deny that investors are after for good profit so when another currency offers good value there is a tendency that they will grab it but on the other side they will be confuse also because of course they will consider the stability of the new currency....bitcoin is already there and i think no other currency would bet bitcoin.
February 27, 2018, 06:31:28 PM
So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
nothing just another new spot on the top ratings,what should we expect?bitcoin dominate this market since then and taking the throne from this isnt that easy.and i guess this will never happen atleast for 5-10 years from now.since the distance of prices is huge until now February 27, 2018, 05:48:12 PM
They have possibility there's an altcoin that replace bitcoin to the cyrpto world. First for sure the market cap will decrease and it will take few months before it will increase again because for sure after bitcoin die they have 5-10 altcoins will fight to be number 1. But for sure the highest percentage to become bitcoin Is ETHEREUM because we know this coin is the number 2.
February 27, 2018, 04:49:16 PM
We've been through different years and people are still talking about this idea of taking over bitcoin. But this is even better than the last time I've read about taking over the cryptocurrencies. If another coin will lead due to its market cap then so be it. That coin will be more popular and will start to lead out the crypto market so nothing new. For example with other coins, they are from the bottom and its now on the top 10. Nothing has changed, they are still volatile.
February 27, 2018, 03:41:11 PM
Nothing special would happen. Perhaps, the crypto sphere would become even more dynamic than how it is now, since people would get an even stronger sense of a world in a rapid change.
Disagree completely, I think there would be a complete shit show for a couple of weeks to months depending on how hard the Bitcoin maxmalists want to drag it out. In the end though, if that does happen it will be better for everybody involved here and for the world, because if there is a blockchain that is more secure, immutable, censorship resistant than Bitcoin than by all means show me today!I think it's really difficult to predict the immediate effects of such a scenario, much less the longer term repercussions (or benefits) of such an event. As pointed out by some very astute observers, it would take a convergence of several unlikely scenarios for it to have a chance to happen, most significant being that people lose confidence or see less value in Bitcoin while at the same time doing the opposite for an alternative cryptocurrency.
The world and their governments right now only recognise Bitcoin - perhaps a small corporate segment is familiar with Ether. I cannot see a scenario where Bitcoin declines while another rises up. For almost the entire world outside of our community, crypto and blockchain is Bitcoin.
February 27, 2018, 03:28:05 PM
Well, this idea is very difficult to achieve , especially in coming years because the king Bitcoin exceeds all currencies in many things ( Price, Market Cap, Volume..). So the most investors always choose Bitcoin as a best choice to develop their financial profitability. Furthermore, despite that many governments tried to break it, but they always failed to achieve that goal, and always remains that currency at the top of the market, Although all the difficulties, Bitcoin always stays at the top of cryptocurrencies.
On the other hand , It is true that many currencies have evolved and progressed in a fast way ( like, Ethereum, Ripple, Cardano, Litecoin..) but the problem that this development is always limited. So it is very hard that someday, we'll see a digital currency become better than Bitcoin.
Everything is expected in the era of digital currencies so if that happen ( Digital currency took Bitcoins place ), there will be a disappointment to many users but the only thing that will change is that most users will deal with that currency and it will be the new king.
On the other hand , It is true that many currencies have evolved and progressed in a fast way ( like, Ethereum, Ripple, Cardano, Litecoin..) but the problem that this development is always limited. So it is very hard that someday, we'll see a digital currency become better than Bitcoin.
Everything is expected in the era of digital currencies so if that happen ( Digital currency took Bitcoins place ), there will be a disappointment to many users but the only thing that will change is that most users will deal with that currency and it will be the new king.
February 27, 2018, 01:59:14 PM
Nothing special would happen. Perhaps, the crypto sphere would become even more dynamic than how it is now, since people would get an even stronger sense of a world in a rapid change.
Disagree completely, I think there would be a complete shit show for a couple of weeks to months depending on how hard the Bitcoin maxmalists want to drag it out. In the end though, if that does happen it will be better for everybody involved here and for the world, because if there is a blockchain that is more secure, immutable, censorship resistant than Bitcoin than by all means show me today!You are right, I have to admit. My point of view was long term, after the storm and the shitshow. I didn't focus on the short term. Thank you for pointing out my lack of precision. But I see that long term we basically agree.
February 27, 2018, 01:46:17 PM
Nothing special would happen. Perhaps, the crypto sphere would become even more dynamic than how it is now, since people would get an even stronger sense of a world in a rapid change.
Disagree completely, I think there would be a complete shit show for a couple of weeks to months depending on how hard the Bitcoin maxmalists want to drag it out. In the end though, if that does happen it will be better for everybody involved here and for the world, because if there is a blockchain that is more secure, immutable, censorship resistant than Bitcoin than by all means show me today! February 27, 2018, 01:33:18 PM
I think slowly but surely other currencies like ETH, NEO or XRP will be catching up with Bitcoin if its slow transaction time is not dealt with. After closing the gap for a while will not be much of a surprise anymore when it is dethroned. Once that happens drops in BTC price will not drag the whole market down anymore
February 27, 2018, 01:25:28 PM
Nothing special would happen. Perhaps, the crypto sphere would become even more dynamic than how it is now, since people would get an even stronger sense of a world in a rapid change.
Jump to: