Nothing is impossible but the chance is very very small
Bitcoin is still king of them all, the pioneer, and as we can see on everyday brand (otomotif, medical, food) it is very unlikely pioneer to be dethroned, but possible
Topic: Why is it impossible for an altcoin to overtake Bitcoin market cap? (Read 410 times)
October 31, 2017, 09:49:27 AM
October 31, 2017, 09:06:45 AM
bitcoin dominance of crypto currency is of many reasons why altcoin could not overtake bitcoin daily trading for bitcoin avarage morethan a billion dollar. it only shows many traders are interested in bitcoin than altcoins
October 31, 2017, 09:02:14 AM
I just started following crypto currencies lately and anytime people discuss the price of one coin or the other, they always link it to the value of bitcoin. For instance, if a coin has a total supply of 2billion units and someone says it will go 100$ per unit. You will see many that will object on the ground that that will be double value of bitcoin. Is there any logical reason why people believe no coin can surpass bitcoin in value? Thanks in advance.
Not everyone that doubts altcoins says it is impossible, but it is extremely unlikely that it's ever going to happen.
Thing is that bitcoin has got the reputation of being a good investment and since it is the first ever cryptocurrency, people trust it more. Altcoins will get overtaken by other altcoins over time with better specs, just like how LTC or PPC got overtaken by ETH.
Bitcoin will always be the gold standard for cryptos, something that people refer back to. At least that's what i believe in. But altcoins certainly can overtake bitcoin market cap, and actually has. Search up the history of solarcoin(even though it was completely illiquid, again demonstrating market cap isn't everything)
I think the reason why bitcoin cannot be overtaken by altcoins is because bitcoin, being the main cryptocurrency in the market, is the basis that partly determines the value of alcoins. Mostly nowadays, it is adversely correctly, because market trends show that when bitcoin value goes up the altcoin values go down, these dictates the market trend where people buy altcoins when their prices are specifically low, later on to be traded when they prices go up.
October 31, 2017, 08:57:51 AM
I just started following crypto currencies lately and anytime people discuss the price of one coin or the other, they always link it to the value of bitcoin. For instance, if a coin has a total supply of 2billion units and someone says it will go 100$ per unit. You will see many that will object on the ground that that will be double value of bitcoin. Is there any logical reason why people believe no coin can surpass bitcoin in value? Thanks in advance.
This is simply because bitcoin have already build a deep foundation to the people because it was tested for so many times and survived lot of controversies in which make bitcoin become more popular to the people that developed more of their confidence and trust, that is why more and more people will invest to bitcoin than altcoin.
Yes you're right, trust and confidence towards bitcoin is a big factor also that bitcoin can't be surpassed by any altcoins. As this coin, give something big in return compared to any altcoins even ethereum.
October 31, 2017, 07:03:48 AM
I just started following crypto currencies lately and anytime people discuss the price of one coin or the other, they always link it to the value of bitcoin. For instance, if a coin has a total supply of 2billion units and someone says it will go 100$ per unit. You will see many that will object on the ground that that will be double value of bitcoin. Is there any logical reason why people believe no coin can surpass bitcoin in value? Thanks in advance.
This is simply because bitcoin have already build a deep foundation to the people because it was tested for so many times and survived lot of controversies in which make bitcoin become more popular to the people that developed more of their confidence and trust, that is why more and more people will invest to bitcoin than altcoin.
October 31, 2017, 06:40:42 AM
I just started following crypto currencies lately and anytime people discuss the price of one coin or the other, they always link it to the value of bitcoin. For instance, if a coin has a total supply of 2billion units and someone says it will go 100$ per unit. You will see many that will object on the ground that that will be double value of bitcoin. Is there any logical reason why people believe no coin can surpass bitcoin in value? Thanks in advance.
maybe the way how they trusted this kind of currency so it is really impossible to surpass bitcoin as we all know that this is the most trusted coin but this is not the end of altcoin to dont have any possibility to overtake bitcoin let just think of it that it has a possibility if some will trust it. October 31, 2017, 06:21:13 AM
BTC dominance in february this year: 86%
Only 9 months later:
BTC dominance now: 57%
Who says, that it is impossible for an altcoin to surpass the market cap of BTC, should take off his blinders. Nothing is static. If it would be so, we would still phone through wires, because we had a wire-phone-dominance of 100% sometimes...
That one coin overtakes another, doesn't mean, that a certain coin is good or bad. Especially in this more and more diversifying market with a lot of niches (usecases), which have a much grater (possible) economic field to harvest than BTC (with its only use to transfer money around - slow and expensive...).
January 2016 Ethereum owned an percentage of 1% of the whole market cap. Only 22 months later this value rose up to 16% (what is 30% of BTC value). In view of this fact of this fast development, does anybody really think, that no coin can ever surpass BTC? To assume this is childisch. As childish as to think, that BTC would become worth- or useless after it got overtaken.
Only 9 months later:
BTC dominance now: 57%
Who says, that it is impossible for an altcoin to surpass the market cap of BTC, should take off his blinders. Nothing is static. If it would be so, we would still phone through wires, because we had a wire-phone-dominance of 100% sometimes...
That one coin overtakes another, doesn't mean, that a certain coin is good or bad. Especially in this more and more diversifying market with a lot of niches (usecases), which have a much grater (possible) economic field to harvest than BTC (with its only use to transfer money around - slow and expensive...). January 2016 Ethereum owned an percentage of 1% of the whole market cap. Only 22 months later this value rose up to 16% (what is 30% of BTC value). In view of this fact of this fast development, does anybody really think, that no coin can ever surpass BTC? To assume this is childisch. As childish as to think, that BTC would become worth- or useless after it got overtaken.
October 31, 2017, 06:00:07 AM
it is not impossible, it is just unlikely.
it is like saying that a newborn smartphone brand will overtake Apple
it is like saying that a newborn smartphone brand will overtake Apple
They will, that's a very short-term view. Do you know what Xerox is? The pioneer that appeared to have a forever monopoly in printing. Now, how many Xerox machines do you see? Bitcoin will slide down the charts, because there are better currencies out there.
Actually, it is not that unlikely - remember that even Bitcoin is still in its infancy and all of us are early adopters. This is way off from being an established thing. From this perspective your comparison might be a bit off.
Plus, giant brands, some of which even acquired monopolist-like status, have disappeared over and over again in history, so this can easily happen again. Just to give a few examples:
-Pan Am
-Standard Oil
-Arthur Anderson
-Enron
-U.S. steel
-...
October 31, 2017, 05:53:22 AM
bitcoin's market cap is only 102 billion dollar and since gaining market cap is super easy for altcoins but it is extremely hard for bitcoin, they indeed can catch up with bitcoin and even go above it. and that has already happened with Ripple!
the trick is very simple. you create a shitload of supply of your coin and you will only have to have a very small price, even 1 satoshi can work!
market cap is simply price * supply. that is why ETH is staying on top, because it has 95 million coins whereas bitcoin as 16 million.
the trick is very simple. you create a shitload of supply of your coin and you will only have to have a very small price, even 1 satoshi can work!
market cap is simply price * supply. that is why ETH is staying on top, because it has 95 million coins whereas bitcoin as 16 million.
October 31, 2017, 05:42:01 AM
Not impossible, but harder everyday with every new shitcoin available
October 31, 2017, 05:38:31 AM
It is not impossible for another altcoin to surpass d market cap of Bitcoin in the future but it's unlikely currently. Just like what we have in the centralised currencies fluctuations are inevitable, currency valuations rise and fall. GBP has not always been the highest currency, it surpassed other currencies along the way.
October 31, 2017, 05:37:42 AM
bitcoin is always the first because until now there are no altcoin that can beat bitcoin. bitcoin is like an adjustment price for all altcoin and bitcoin is up or down, altcoin will be adjust to new price too. beside that, i think people in out there mostly know bitcoin than altcoin and they know bitcoin because the price is too expensive and people thinking that bitcoin is the best investment right now. people learning that bitcoin price will increase more than now and if they compare with the altcoin, they will choose bitcoin only.
October 31, 2017, 05:35:52 AM
it is not impossible, it is just unlikely.
it is like saying that a newborn smartphone brand will overtake Apple
it is like saying that a newborn smartphone brand will overtake Apple
They will, that's a very short-term view. Do you know what Xerox is? The pioneer that appeared to have a forever monopoly in printing. Now, how many Xerox machines do you see? Bitcoin will slide down the charts, because there are better currencies out there.
well, i hope you are right, as i'm investing in altcoins lol
October 31, 2017, 05:32:57 AM
it is not impossible, it is just unlikely.
it is like saying that a newborn smartphone brand will overtake Apple
it is like saying that a newborn smartphone brand will overtake Apple
They will, that's a very short-term view. Do you know what Xerox is? The pioneer that appeared to have a forever monopoly in printing. Now, how many Xerox machines do you see? Bitcoin will slide down the charts, because there are better currencies out there.
October 31, 2017, 05:31:14 AM
Bitcoin has been trending to be a smaller and smaller part of the crypto-wold. It has huge crippling problems, high fees, it's too slow to be a serious currency and a greedy community that betrays one another. Unfortunately, the drama has pushed it back up somewhat. Wall Street isn't taking a future use scenario into account. They are happy with short-term profits and the possibility of a crash doesn't bother them. They do that a lot unfortunately, they are responsible for quite a few economic disasters.
The altcoin market needs more practical people to make it useful, we can't fix Bitcoin but we can make Dash or Helium or Ethereum into a useful currency. Then you will see alts start to pass Bitcoin.
The altcoin market needs more practical people to make it useful, we can't fix Bitcoin but we can make Dash or Helium or Ethereum into a useful currency. Then you will see alts start to pass Bitcoin.
October 31, 2017, 05:28:20 AM
it is not impossible, it is just unlikely.
it is like saying that a newborn smartphone brand will overtake Apple
it is like saying that a newborn smartphone brand will overtake Apple
October 31, 2017, 05:26:59 AM
It is not definite
but really it is unlikely to happen
First of all BTC is a pioneer in crypto, that's why it has such stable positions
but really it is unlikely to happen
First of all BTC is a pioneer in crypto, that's why it has such stable positions
October 31, 2017, 05:23:53 AM
Bitcoin is the first cryptocurrency and it has overcome more adversity more than any coin alive. More importantly is the fact that bitcoin has been tried and tested and the result has been positive. Bitcoin is widely accepted and is more useful than many alt in real life!
I just started following crypto currencies lately and anytime people discuss the price of one coin or the other, they always link it to the value of bitcoin. For instance, if a coin has a total supply of 2billion units and someone says it will go 100$ per unit. You will see many that will object on the ground that that will be double value of bitcoin. Is there any logical reason why people believe no coin can surpass bitcoin in value? Thanks in advance.
Not everyone that doubts altcoins says it is impossible, but it is extremely unlikely that it's ever going to happen.
Thing is that bitcoin has got the reputation of being a good investment and since it is the first ever cryptocurrency, people trust it more. Altcoins will get overtaken by other altcoins over time with better specs, just like how LTC or PPC got overtaken by ETH.
Bitcoin will always be the gold standard for cryptos, something that people refer back to. At least that's what i believe in. But altcoins certainly can overtake bitcoin market cap, and actually has. Search up the history of solarcoin(even though it was completely illiquid, again demonstrating market cap isn't everything)
Really appreciate your responses. My question is out of surprise at how people see the market as a whole. Thanks again.
October 31, 2017, 05:23:19 AM
Bitcoin has been in this industry for an incredibly ling time, I don't claim perfect knowledge but I think bitcoin was the first cryptocurrency to be widely used on the internet. Bitcoin has already surpassed many tests and is still being used up to dste. Unlike altcoins which are still building their names up, bitcoin has already been there and is continuing to be useful.
October 31, 2017, 05:13:10 AM
Bitcoin is the first cryptocurrency and it has overcome more adversity more than any coin alive. More importantly is the fact that bitcoin has been tried and tested and the result has been positive. Bitcoin is widely accepted and is more useful than many alt in real life!
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