Bitcoin Forum

Ethereum Shocks the World: Half a Million Validators and Rising, Is Ethereum the Next Crypto King Or BTC?

tell me if it's a stupid question

Dear Op what are you talking about ETH=BTC are you sure you are not dreaming? Dear No altcoin can compete with BTC as you can say that the Whole Altcoin market in total strength is almost a worthy competitor of the King BTC. Less than that you can't even compare them.

For a simple example check current market capital =

https://i.imgur.com/YsYdzXJ.png

BTC market capital =

https://i.imgur.com/FEmfhLA.png

so always remember BTC > Whole Altcoin Market

To Bitcoiner and those who put honor above greed. What you're asking is a stupid question because there's a cryptocurrency that will ever be like Bitcoin.
1. It is the only true decentralized crypto and Ethereum shouldn't be categorized as decentralized since it uses the proof stake.
2. Its consensus and censorship-resistant cannot be achieved by any altcoin.
3. It's the reason why we know blockchain and its other benefits.

Yeah, it's a stupid question that has been asked gazillion times. BTC isn't ETH and ETH isn't BTC and they've got their whole markets for it to be proclaimed as king of each individual.
ETH = king of altcoins.
BTC = king of the entire crypto market including ETH.

yes, ethereum is indeed a quality altcoin, that's why at cmc ethereum is in 2nd place. but in my opinion it still won't beat bitcoin, because bitcoin is very much in demand more than enthusiasts
ethereum. so it will be difficult for any altcoin to drop bitcoin.

but we won't know for the future.

Yes, this is a stupid question. For me, this is not a valid comparison, Ethereum versus Bitcoin is not the thing here.
Bitcoin will always be the king of cryptocurrency. And both great cryptocurrencies got different use, Bitcoin is a major in payments. Ethereum is likely more advanced, which focuses on smart contracts.

It is a stupid question for me. No altcoin can replace Bitcoin. That will never happen, at least not within decades and not within the current list of altcoins. There are stories or predictions of Ethereum flipping Bitcoin. I can hardly imagine that happening. But I don't discredit Ethereum's rise. It is a better altcoin, best coin in fact if we compare it with the other thousands of altcoins. Crypto innovations brought about by Ethereum have made a difference.

Both are different crypto though, so there are no comparison, if there is Ethereum against the rest of the altcoins and not aganst Bitcoin.

So what is shocking though about those validators? i mean they are talking control of the Ethereum network so it become so centralized now.

And yes, sorry to burst the bubble for you, but this is a stupid question.

Well i would say that no question is to stupid to ask, even though i think that it is pretty stupid to think that there needs to be a king of crypto or that it is either Ethereum or BTC like they are some opponents or something. For me BTC and Ethereum are completely different things. Bitcoin obviously was the first crypto project that was ever created. Therefore it basically created the whole crypto market and that is also the reason why crypto still equals BTC, especially for people that are not so familiar with cryptos.
Ethereum came later but offers much more functionality than Bitcoin. Ethereum made everything that we are having today possible.

He is not talking about the price if you read the context of his statement. He is pertaining to increased of the number of validators of Ethereum due to the upcoming shanghai hark fork of Ethereum which probably gives more reward to all validators.

You can read full news here: https://news.bitcoin.com/ethereum-validator-count-surpasses-500000-ahead-of-upcoming-shanghai-hard-fork/

Probably but what shocking to us is him telling us the ETH will be the next crypto King?

So regardless if it has top million validators or what not, I doubt that it can topple Bitcoin on top of the food chain. Even if we talk about the price, or market cap, ETH is still way below. So I don't think there is something that we should be in shock with the number of validators.

It could be the numbers that Ethereum didn't expect, but I guess it just shows how Ethereum becoming so centralized now with that number of validators?

Ok i'll tell you it was a stupid question. They are not building same things so they are not in competition with each other, even though some maximalists like to think so. If you are talking in terms of marketcap, flippening at some point is possible, but it hasn't happened yet and ETH has been way more sensitive to any fud out there. And more importantly BTC leads the price movements. That should tell you enough about it.

Congrats to Ethereum for achieving that many supporters. How did it shock the world exactly?

Interesting stats on the concentration of node validators per country that you can see from https://www.nodewatch.io/

As of this writing,
US - 39.92%
Germany - 13.84%
Finland - 6.42%

The data show it's highly concentrated on North America and Europe. What would you make of this information?


......
Numbers are higher here https://www.ethernodes.org/countries

The last thoughts about this coin I wrote in this post
https://bitcointalk.org/index.php?topic=5434542.msg61587848#msg61587848
There you will find a link to a very large topic on this forum. So far, Ethereum looks like a king compared to other competitors, but decentralization in this ecosystem needs to be monitored. And you need to understand that investing in this coin will not give many percent of the profit, because the capitalization is already very large, and the increase in the cost of ethereum increases the cost of transactions in all its ecosystems.

Another bull, another hype so probably this is not new.
Anyway, i have no hate with ETH since I’m also holding it but what I don’t see here is that, ETH can’t never replace Bitcoin on top because it is created on a different purpose. If you think ETH can be the next big one, then that’s ok just increase your holdings so you can feel it. The market is growing and rising again, its good to see a lot of positive reviews with cryptocurrency.

No, but ETH will remain the top altcoins.
Their purpose is to complement what is not with Bitcoin and not to replace it. ETH will grow bigger, there are still good update that will come and probably that can affect ETH for good. We should be able to see it now and start preparing for it, I suggest to have some ETH on your wallet.

We should way grow above this form of mindset by now, flthe most funny activities in recent time a comparing BTC vs ETH their both have no comparison bases.

Talking about market capitalization and volume ethereum can never equal BTC, and trying to compare BTC vs eth is like comparing birds vs bees just because the two are flying.

it isn't even a question, I think eth still far from stealing BTC throne, the market capitalization itself is already far off, I don't think ethereum could ever beats BTC.
the only way for ethereum in doing that is getting itself rising in value multiple folds and i'm sure that's gonna be hard for ethereum since its value is already high enough and could hardly increase further.

that doesn't have correlation with the market capitalization so I think it will never shake the position of BTC, instead it will just make eth have stronger grasp in its position as number 1 alt coin.
even like that there are quite many problems left by ethereum that still unsolved and could be hindrance in future bullruns in which gonna holds back ethereum from rising its value like their fees.
ethereum should focus in development of their blockchain to overcome fees and scalability.

BTC will be always, ETH may be the king of Altcoins, but the king of Crypto will be BTC only.

Yes, it is. Never believe someone who always says about altcoin is the king of crypto, moreover if you heard from new projects saying to be the next of Bitcoin or the king of crypto, they are all shits.

silly question.
as other members have said here that bitcoin will still be the king of all coins or altcoins and bitcoin which dominates the prices of all coins on the market and all depend on the price of bitcoin.
ethereum will only remain the queen of bitcoin and ethereum will remain the queen of all existing altcoins.

so ethereum is not king but only queen which occupies the top spot of all altcoins. no one will replace bitcoin and become the next king.

This is the oldest forum about bitcoin, and to be honest, the people here are mostly bitcoinists rather than altcoins, and I also prefer bitcoin to altcoins. You cannot compare ETH or any altcoins with bitcoin because they are entirely different.

ETH will not be able to replace bitcoin and become the king of crypto, but if you ask about the market capitalization, ETH can surpass bitcoin in the future, I think it can. The cryptocurrency market is always full of surprises. And in the past, ETH overtook BTC in terms of market capitalization but that didn't last.

This forum started on BTC as it was the first crypto but later on they add altcoins boards because altcoins are also created later on. There is nothing wrong with altcoins as long as they are a worthy one. They can be a good addition to our crypto portfolio if we are into diversifying. There is also nothing wrong if you prefer BTC over the alts.

You should stick or go to where you are happy and there is no need to follow what others are doing. If the good performance of ETH continues then it might steal the spot of BTC. This can be a big deal to some but if BTC supporters don't want this to happen then they need to support BTC harder than usual.

Let there be half billion validators by next year but it would not cross bitcoins market cap neither it will be king or something like. Definitely stupid thought due to many factors are under considered here. With the ETH being an altcoin with non ending emission of the coins it will always have one step down demand as compared to the bitcoin. Having validators mean nothing, in fact it is needed now to keep the ETH's existence to through the PoS algorithm. Increase in validators only mean that it will be keeping it's algorithm on and it's utility up all the time. On the other hand bitcoin is getting more and more demanding and shorting in number as we move further. We may feel that it is slow process but at the end it's growing.

No, I don't really think this could surprise the people around. ETH has already been known in the market by its price and position, and those numbers couldn't change anything. This coin will remain following Bitcoin and being in the 2nd position is already good enough to think about the potential it has in the crypto world. People are happy about what happened, the transition is also showing good, the developer has no ambition to make his project become number but instead of maintaining its position as #2.

altcoin will always be considered altcoin and bitcoin will always gets prioritised for investment therefore the investment flow that's tremendous enough in keeping this coin stays number 1 and will stay like that for decades.
the only thing that could make eth overtake btc is if it could somehow increase its market capitalization few folds than it currently is then maybe it has the chance, but we all know that btc dominance even if fluctuative will always takes big share of the overall dominance.
there is certainly reason why majority keeps saying bitcoin will never ever gets replaced by altcoins because its dominance is simply too huge.

To be fair, ETH can still usurp BTC, but it will be tough, and ETH has to work a lot more if it wants to happen. I don't remember the exact time either, but what @fuguebtc said is true, there was a time when ETH's capitalization surpassed BTC, but that didn't last long, and since then ETH hasn't had a single pass over BTC. Everything can happen.

Many people hate altcoins because they are centralized, that's not wrong, but depending on the purpose of each person's participation in the market, we will have different options. I am here to make money so I will invest in bitcoin, altcoins as long as it gives me profit.

I also don't want ETH to surpass BTC, BTC is still my favorite coin, but anything can happen, and people just don't dare to face it. BTC is the creator of the cryptocurrency market, but it is ETH who pushes the market to the next level as it is today, the role of ETH is too big for the market. But the possibility of ETH surpassing BTC is not going to happen anytime soon but maybe in a decade because bitcoin's market cap equals all altcoins combined, bitcoin is getting too big right now.

It is not a stupid question but it is a question that has been asked hundreds of times and so far the answer is always the same, bitcoin is the best coin in this market and no coin is even close, it is true that ethereum is the one that is the closest to bitcoin but there is a massive difference between the two.

In fact the difference is so massive many believe ethereum will never be able to overcome it, and I am one of those people as well, so if you want to invest in ethereum you can do it as the profits will be high during the next years, but abandon this idea it could surpass bitcoin, because most likely it never will.

It will remain on the 2nd spot, Bitcoin will continue to be the number 1 but still that's an opinion since there's none of us who can really tell what future will be and how the market will surprise us.

For now, there's no huge movement with ETH and it is still in the 2nd spot right after BTC
if something huge may happen the reflect will still be at Bitcoin first before it will hit the entire market.

Yes, Ethereum is seriously improving in this new year but it will not be the next crypto king because, Bitcoin price always make others cryptocurrencies price to increase which will be the reason BTC will still remain the king among other cryptocurrencies. BTC price has moved to $22k yesterday to prepare the mind of those that bought huge amount of BTC last year to get ready to see massive move of BTC before the end of this month of January. No matter the increased Ethereum will increase in this season, it will still be under BTC because BTC teams are more active than Ethereum teams.

I guess you are just overwhelmed with the amount of validators ETH is having.
Well, ETH is definitely a really good altcoin but it cannot surpass bitcoin any time soon.
The market cap of ETH is less than half of bitcoin. Even if somehow ETH manages to surpass bitcoin then it would take a huge amount of time for that.
I don't believe the fact that bitcoin will forever remain on top but it would take something extraordinary to happen for any coin to surpass bitcoin.

I was thinking but still can not find a clue that ETH will overtake BTC, yes we all know that the price of ETH will go up higher than before but this is not enough to beat BTC maybe we can say that ETH is the beat altcoin but not called the king of crypto, as we all know that Bitcoin is the best and the king of Crypto in this Era no one else. Maybe in the next era but for now King Bitcoin.

Increase of validators maybe a good thing for ETH users but not really surprising to the BTC investors and the actual existence of eth is not to kill bitcoin they have other utilities so both are completely different. As of now ETH falls a huge step behind to be considered as a market competitor of bitcoin in every aspects and for security concerns their decentralization will never be upto the mark in PoS no matter how much validators are there comparing to PoW.

Ethereum and other alts were developed after getting the idea and concept from Bitcoins. So do you think that ETH will ever cross Bitcoins? Bitcoins are always considered as the father of all cryptos, so it’s always best to not compare it with any other alts. ETH and BTC both have different values and sentiments in a traders life, both have different advantages over each other, that’s why we shouldn’t compare them. I agree that ETH value has increased, but it only happens when Bitcoins increases in it’s price. So basically all the altcoins follows the Bitcoin.

Well, I guess it's not a big deal... miners are just migrating, and probably there are even more people who own 32 Ethereums from way back and they are waking up slowly.

I wouldn't bet on Ethereum as the next crypto king... I don't think we will see any changes about that any time soon.

Ethereum is indeed the only Altcoin that is very profitable and has a bright future, making Ethereum have long-term prospects as an investment asset.
But it is still impossible for Ethereum to become the king of Crypto and beat Bitcoin in the future.
We'll just look at the trajectory of the journey and development of the two crypto assets and we can conclude that Bitcoin will still be the most influential crypto and the only king in the cryptocurrency industry.
So you don't need to ask this if you have known and participated in the crypto industry for a long time or have had it for a long time.

This might be one of the old question, and ETH will never be Bitcoin because its an altcoin and ETH is already the top altcoins, aiming to dominate the whole market might be too impossible. ETH seems to keep on growing as well, this might be the good effect of several updates from the past year and its good to see them back as a cheaper option to transact. Anyway, this is just the beginning of the bull trend we might see new ATH very soon.

We possibly keep seeing this question because until today still a lot of newcomers are too emotional when just only seeing such things. Sometimes I could say that they never understand the market so well because what they see today they already then think could change everything in the market position. Perhaps, they underestimate Bitcoin and then make an assumption about ETH becoming the #1 which we really know that it was not possible. 

I think increase in validators didn't matter that much isn't it in terms of beating BTC because what's matters most is the value of the coin itself.
if eth couldn't ever increase its value then it could hardly beat bitcoin even if there's billions of validators are there, mainly because the most important thing is the valuation of the coin itself.

Of course Ethereum is a well reputed crypto but its more likely a centralized project and coming to stacking get it in more danger because of a large amount of Eth are collecting in one place maybe it have risk of attack and because its not distributed like mining attacker have more advantage ,
And like XRP or LUNA like situation may happens, So play smart and keep only 10% of your portfolio if you think Eth will go high .

wanna tell you if this is stupid question ? then it is YES .
not just because there are some good move for Ethereum recently meaning this can prove it breaking bitcoin.
because look at the market , ethereum is moving slower than Bitcoin so what is the main purpose of this thread?

if you see ethereum at least making x10 increase against bitcoin then maybe I will consider believing your thread.
forget about Ethereum Beating Bitcoin , because this does not count for at least the next couple of years more.

As if Ethereum did not have to shock the world with its dramatically increased network censorship, growing centralization, and high commissions that have not gone anywhere. The community had high hopes for a change in consensus, but so far it has only gotten worse, at least in terms of decentralization. It could be that this whole PoS transition idea will turn out to be a big disappointment for investors and the community, and then Ethereum will definitely shock the world.