Bitcoin Forum

Da Tou, literally "Big head", attended The Global Blockchain Conference of 2017 in Chengdu and shared his opinion about investment in cryptocurrencies. As eth's market cap reaches closer to btc, can it surpass btc? Or Eth will also be surpassed just like Nokia if it is not technically monopolistic.
http://news.8btc.com/switching-to-altcoins-can-they-sustain-upward-trend

it is funny how all these news sites are publishing articles talking about potential AFTER the rise happened! talk about a poor article eh!

it is the same with bitcoin, price rises from $1000 to $1250 they all start praising it (8btc included) and quote people we have never heard of telling us how awesome bitcoin investment is and how it is heard to $5000, or $50,000!

and when price comes down from the ATH of $2900 to $2500 the same sites start quoting some other people we have never heard of who are saying how bitcoin is garbage, how it was a bubble and how it is headed to $500, $200 etc :D

Because of some issues that Bitcoin is having some users are thinking about abandoning the Bitcoin and choosing some alts. But to my opinion this would be wrong decision. Although many altcoins are showing rising I don't see any particular potential to replace the Bitcoin or achieve its value. So I wouldn't switch to any alt at the moment.

Well whoever is contemplating abandoning Bitcoin doesn't know Bitcoin and they do so at their own ignorant discretion. Who told you nobody will buy back if you abandon your portion of bitcoins savings at this stage in bitcoins development ? So the Alts will remain Alts and will sustain their growth simultaneously to Bitcoins growth.

you usually abandon something for another better thing!
like abandoning old fiat and banking system to move to the decentralized system that bitcoin has offered.

so if you want to find an alternative for bitcoin, that alternative must be better. not just rising in price!
and with that in mind, there is nothing better than bitcoin. there are a lot of awesome features in altcoins but when you check all the pros and cons of each of them you will see that they also have numerous flaws.

That is a good point,of course you have to select a better option. As of now, still its OK with bitcoin. If you are going to abandon it, better  transfer it to the top ten cryptocurreny in coinmarketcap. At least, it has a big market capitalization.

Total shift from Bitcoin is not recommended because you can't ignore the fact that it is the most stable cryptocurrency available out there right now but a small investment in other progressing altcoins like monero and ethereum must be made to diversify your portfolio and reduce the risks of market.

again you didn't understand my point.
the top 10 cryptocurrencies on marketcap are on top because they have a big number called marketcap. it does not indicate they are better than bitcoin or even be good!
it just shows they have either a high price or a high amount of coins available. such as XRP for example.

as far as investment and making profit is concerned altcoins are awesome. they get pumped 500% to 1500% in a short time like a week and give you a lot of profit if you act quick.
but as a real decentralized cryptocurrency that can act both as a secure store of value and a secure currency, they are not so good.

The dominance of the bitcoin is dropping significantly and there are issue about the transaction fee and then there is also an issue of forking really make bitcoin unstable, and in the other hand alt coin keep on showing its potential, if this keep on continue bitcoin can lost the top place, but for now bitcoin still strong on the top and it is not that easy to replace bitcoin

In troubled times like nowadays you should rather think about preserving your wealth, surely not about whether altcoins can "sustain [the] upward trend". If Bitcoin seriously goes down, other altcoins will certainly follow. If Bitcoin is going to kick the bucket due to the coming split, there will be a lot of strife between contenders to take its place. People will be looking where to pour their fiat after Bitcoin is no longer at the top (at least those who manage to preserve their wealth in the process of Bitcoin losing its place and value)

But it may take some time till the dust finally settles and the sun shines bright again in the cryproworld

Well I only agree with the latter part of your contribution, I think Bitcoin is still strong and just tumbled a bit but people or perhaps doomsayers are trying to make a currency out of it at the least opportunity. Haven't we seen such a dip before?when it went all time high in 2013 , didn't it tumble down to around 200$ so what are they saying again, the Alts have no place yet and we should guard our comments in order not to spark panic selling.

Anyone who ignores alts as inferior is very shortsighted, and has missed a ton of profits. Likewise it would be silly to ignore bitcoin, though the faster they make changes to decrease fees and make it more scalable the better. None of these are good as currencies, except tether, because they are too volatile. I see them more as small cap stocks or commodities.. fixed supply with varying demand.   

being inferior or not has nothing to do with how much profit they give!

tether is too dangerous in my opinion. in less than a year we have seen it decline a lot and drop down to 0.9 just because once bitfinex was hacked and the other time their banks blocked the withdrawals.
if you want a non-volatile thing similar to tether then stick to fiat, why bother with something that is not even guaranteeing the price.

not all of them have fixed supply, lol

Well because of the high fees and long transaction confirmation times, Bitcoin is losing its popularity and Etherum is looking promising. ETH also had a similar uptrend as bitcoin in past few months, its very hard to predict is the uptrend is doing to continue or stabilize or drop. Yes maybe ETH will become more popular and rise more but remember BTC is not dead yet and it won't die for me BTC always comes beofre any ALT.

You should rather ask, would Bitcoin be able to sustain the volume... when Ethereum goes down. It is just a matter of time before Ethereum is

going to fold. The problem is this.... when Ethereum goes down, it will cause a ripple effect. Investors will lose a lot of money and this will get a

lot of media attention. The negativity will spill over to Bitcoin and investors will be hesitant to invest in Bitcoin.  >:( >:( >:( >:( Stay away from

Ethereum.

I am sure bitcoin is not the end of what cryptocurrencies could deliver to world. There maybe lot coming in path offering much better experience and trends than bitcoin.
But ethereum is not that coin. It is more or less dependent upon bitcoin. How can we trust a coin to be more promising than bitcoin whose price keep fluctuating 25-30% of total worth everyday. Its price is directly related to BTC success

Another flippening post.


Would Ethereum's market cap surpass bitcoins is not important. If it did then it would become the biggest cryptocurrency in terms of cap, but most valuable and most important? Nope.

Currently there are 16,394,462 BTC (max 21,000,000) and 92,536,226 ETH (There is no limit, a constant amount of ETH will be mined forever) in circulation.

The current circulation of ETH is more than five times of BTC, but value is 1/7 of a bitcoin.

If tomorrow someone launched an altcoin with a mximum supply of 99,999,999,999 and even selling this at $1/coin would take its market cap to 99,999,999,999. Does it mean this new altcoin has become the most valuable, and most important cryptocurrency? Nope.

ETH's increasing price, trading volume and market cap could be summarized as simply as, ICO - tokens - using ETH to buy tokens - expecting to make it large if the ICO succeeds. ICOs are booming and some of the existing ICOs are doing really good. But on the downside many instances of ICO fraud has been reported, marketing it as crowdsale or donation makes it regulation free.

Since Ethereum is entirely dependent on ICOs for its growth and if some prominent ICOs scam/collapse ETH would come crashing down. Whereas bitcoin is entirely independent and scarcity makes it the most valuable and important cryptocurrency.

There is hardly any reason to think so

Ethereum will certainly not be the first shit coin to scam eventually. But did it somehow affect Bitcoin, in any meaningful degree? I guess no. There simply doesn't exist a transfer mechanism that would make Bitcoin go down or even crash if Ethereum is set to scam. Most die-hard bitcoiners are firm believers that Ethereum will definitely scam in the end, so I can't possibly see a way how it could damage Bitcoin when it goes bust. That will likely give Bitcoin a boost (unless Bitcoin kicks the bucket on its own, of course)

To be honest, I'm now beginning to think of moving to alt coins specially Ethereum. But the more I'm contemplating, the more I resist the urge to moved. I still believed that alt coins are just a pump and dump coins and I'm not a big player on bitcoin so what else should I do on alt coin markets? I will be just eaten as well by big entities and those group that is continuously pumping certain coin and dump it for profit. In short, I don't have control. I may be shaken if I'm not slowly picking the coins that I should be investing for. The only coin that interest me though is only Ethereum, but I guess I have to study more and not just jump on the bandwagon. I don't what to regret my decision later.

Definitely ethereum have some potential rather than just a hype, most of the ICO are running on ETH based tokens that is one of the reason behind all this pump. ETH can grow significantly in future if this trend continues, but I don't think this will have any negative impact on bitcoin's price growth.

Are you not on the exchanges to "exchange"?  I do not understand, are there really those that only deal in BTC and FIAT?  That is the end of the l'intelligence spin cycle there.  If you posted a question like this here, then by the time it has been answered the answer is different.  If you are storing your coin balance in just one crypto, then I am glad when price changes take your money.

There isn't a single altcoin which is better than bitcoin. Not even one.

Bitcoin is accepted worldwide. Not the others.

Your techically superioreum coin is not being used for purchasing stuff but pump&dump. Do bitcoin has problems? Yes. But they are temporary. Segwit is coming and no more problems. 8)

It is a news and/or article about bitcoin and random people idea about it.  So if the site thinks that the message of an unknown people will get interest from the masses then they publish it no matter how contrasting it is prior to their last publish.  

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I always believe alternate cyrptocurrency can sustain their upward trend as long as people are flocking in to their coins.  Aside from that most successful ICO can do that anyway.  Think of a huge premine reserved to the dev team plus millions of money collected from their crowdfunding.  They have a token to sell when price is going up and a money to buy when token price goes down.

exactly, i'd like to swtich to ltc and eth for a while and when a fork occurs and the market decides a winner, i'll switch back to btc.

Nope, a ltcoin is just good for short term investment while is a safe haven for your assets that might reach $250000 in 2020, altcoins are just hype for now and some news media are promoting it. Some people are just buying lots of altcoins like ETH and wait for the price to pump for them to convert it back to bitcoin. Because bitcoin is the only crypto currency that has million of support ans it is widely use as payment method in both online and local shops, it is also being used as payment in goods and services. That's institutional investor got their interest in bitcoin and some countries already legalize it.

Yes exactly switching happen for a good cause. When you know that the new choice will be better than the old one. So in this case you try to find something new with much better qualities than the one you are already using. There is nothing wrong in adopting anything new but if it the old one still is the better one then your decision is a wrong one. So, simply bitcoin is the best one currently.

Supply & Demand is not a hard concept to grasp.
So what do you think ?  ::)

Altcoin is danger.
see it:
http://i.4cdn.org/biz/1497856108283.png

Hey Dawg i heard you like ICO's ...
So i created an APP's platform called Etherem ...
I put an ICO in your ICO !  :D

Ohhh the luscious sweet ROI's  ;D
I can just taste the FIAT already.

The BigSplit is coming and our problems may have just started

At first, it was like Bitcoin was going to split into 2 different branches, then people started to talk about 3 independent chains. And look, today I read that it looks more like 4 separate Bitcoins after August 1st. I guess when the day of the BigSplit actually arrives, Bitcoin will just disintegrate into a myriad of irrelevant chains, subchains, and subsubchains. Maybe, that's the whole point of the controversy we see these days and its ultimate goal?

Better to switch to FIAT from BTC than to ALTs, but that's just my opinion.

Bitcoin is the king, going to an alt is like switching the king for a craftsman at the king's palace - he may be skillful, even better than the king at some skills but he still works for the king. So you abandon the king to work for the king through a 3rd person.

I hope I made it clear even for 10 year olds, good luck with the switching.

I think they can. Although i still think ETH is the "safest" altcoin, so i would invest most of BTC into it. But overall, i believe they have better future and purpose than bitcoin (all of the altcoins), so you should go with them.

The altcoin total market cannot sustain this upward trend but individual altcoins with great promise can. At the end of the day altcoin investment is high risk for high reward. When the big crash comes most altcoins will suffer greatly and only a select few with steam on ahead.

I totally agree for the short term profit of altcoins. Observed the market since a while and got started recently with a limited amount of money. So my strategy right now is hoping for some pumps in altcoins to dump them and so on and so forth. I guess thats what a lot of people are trying to do :D

However, regarding the big number of marketcap I am not quite sure how to interpret the big difference between a high market cap and low price of the altcoin like in the case of STEEM (https://coinmarketcap.com/currencies/steem/). Is that a bad sign since there are a lot of coins out there, the price will probably not rise significantly any time soon, I assume?!

Bitcoin having only issue now that transaction charges only for micro transaction not for big fund transfer . The people who is using to transfer good amount of bitcoin (Converted fiat currency) they don't feel transaction fees too much . Yes of course people are switching alt not only because of transaction charge they see it as a another investment (trading).Finally they convert their profit into bitcoin

You are like the Cocaine Cowboy losing $6,285,000 when the South American banks folded into the new regime.  Thank God for the power of non-research to eliminate the chaff and leave the wheat. 

By then it will be too late to purchase BTC. If anyone of the chains emerge as the clear winner, then the prices will rapidly rise upwards. Remember what happened to ETH, after it won the battle against Ethereum Classic. But if both the chains remain alive without a clear winner, then the alts will gain. There is a strong chance that the market cap of ETH will overtake the combined market cap of BTC and BTC Classic.

As to me, there is no such chance

Since you are mentioning the market cap and you seem to be serious at that, it pretty much means that don't have a clue what's going on (no offense intended). Ethereum market cap has risen simply because most tokens are now frozen for the coming ICO's (you can see them in numerous signatures across the forum), so only a small fraction of coins gets traded, which allows to boost the price via market manipulation and then claim insane market cap. But when these ICO's start failing and falling (which is almost a certain), all these locked coins will be sold driving the price to where it belongs, i.e. at the floor level. And that may well happen even before August 1st

There is something that many of the people on the forum forget while they make a comment regarding the cryptocurrency. The cryptocurrency is no doubt one of the most risky investment and when it comes to profit while commenting about profit we just measure the profit and not the rest of the growth. Once the alts may have been profitable for someone and too in short run in long term it is bitcoin which provides you the highest and the safest profit.

This is something common in the business world. There is nothing new in it. People always do like this not only in the cryptocurrency but to almost everything which have a margin of profit.
The comparison sometimes is also not trustable as you have mentioned that how could a $200 hundred currency be heading a $2000 currency?

Well I don’t agree with this bitcoin is still the most trusted coin in the cryptocurrency. There is no doubt that the alts may be offering a low transaction fee but look at the market cap of bitcoin and that alt if they both have the same market cap then this comparison will be right otherwise of no use.

I don't quite understand what you mean by that

If you are going to say that Bitcoin is less risky (on average) than most altcoins, then I will most likely agree with but not without reservations. First, Bitcoin itself is as risky as hell, even if it has been growing more or less continually for nearly two last years (many Ponzi schemes lasted longer, a lot longer). Second, average means nothing in the world of finances and investments ("past performance is not indicative of future profits"), so right now Bitcoin may in fact turn out to be riskier than major altcoins, and you should proceed from that in your investment decisions, not some past values