What would happen if another cryptocurrency took Bitcoins place in Market Cap? - page 16.

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legendary

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Quote from: 8CommaClub on February 22, 2018, 02:05:58 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 the currency would have more attention and conquer a huge community, bitcoin already has a huge community and the other currencies that are created receive altcoin name and that in itself already creates a certain disdain, as if that was not enough, the alcoin are in strong competition against each other which means that they will dispute the market limit between them leaving bitcoin as the leader

Quote from: 8CommaClub on February 22, 2018, 02:13:52 PM

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?

bitcoin has an anonymous creator that creates a sense of decentralization and at the same time makes people trust the currency, but other altcoins have their creators that are not anonymous and are centralized which in my opinion will make people not trust so much in the currency, based on my reasoning I do not believe people would dump their bitcoin to buy altcoin and that altcoin to become the new king

xaviervilla

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Quote from: 8CommaClub on February 22, 2018, 02:05:58 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?

Well, it really is something that can happen and although I do not think that it can happen any time soon it really can happen. And it is just right to think about what might happen when it really does become reality.

If this happens, I think that it will really make a lot of bitcoin supporters lose money. But other than that, I really cannot see any other problems. Well, maybe if that happens there would be a huge dump in all crypto amd may take a long time before it recovers. But who knows? Oh well, we'll know when it happens. Lol.

8CommaClub

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Quote from: supine on February 22, 2018, 02:17:50 PM

In that case, that coin would really have a good potential. I cannot see any new coin that can replace bitcoin yet. As we all know, a lot of people already trusted bitcoin and they consider it as the main currency because it's the first cryptocurrency to become very successful and bring convenience to everyone.

Interesting. So it pays to be first.

supine

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In that case, that coin would really have a good potential. I cannot see any new coin that can replace bitcoin yet. As we all know, a lot of people already trusted bitcoin and they consider it as the main currency because it's the first cryptocurrency to become very successful and bring convenience to everyone.

8CommaClub

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Quote from: stomachgrowls on February 22, 2018, 02:09:40 PM

Quote from: 8CommaClub on February 22, 2018, 02:05:58 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?

stomachgrowls

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Quote from: 8CommaClub on February 22, 2018, 02:05:58 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.

8CommaClub

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So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?

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