Bitcoin may not be number one for long

[deisik]

...snip....

Do you know that market cap is a simple multiplication of the price by the total supply of all coins currently mined? And if Ethereum has more coins, its market cap will be higher in comparison with a coin with smaller supply at the same price, but it doesn't in the least mean that the price would remain the same if all these coins were circulating (which is implicitly assumed by market cap calculation). In other words, market cap is even less relevant than price itself. Ethereum shills don't care that most Ethereum coins are locked which leads to higher prices due to limited market supply. It is good for price and speculation but once these coins are unleashed (when ICO's start to scam in massive numbers), the price will crash spectacularly

Deisik,  very perceptive!  I see the ICO's that are out there as short term beneficial to Etherums rise, but long term; when ICO's scams start to cause an exodus, it will cause flash-crashes. I see many ICO's that basically are vapor-ware and clearly done by guys with no relevant experience, no team and can't even get a copywriter.    Can you (or someone else), explain how Etherum coins are locked? Do you mean in contracts for founders and in other long-term contracts?

I'm not really interested in Ethereum, so I'm not very familiar how the whole system works (so anyone with better experience and knowledge are welcome to chime in on this matter), but you may be interested in this article. I've seen the link posted by someone around here (with all due credit), and this blog post pretty well confirms what I'm feeling toward this coin (just instincts). Anyway, it is obvious that Ethereum market cap has no connection to reality. And it is not a rocket science either to understand that the coin is likely going to turn into a big-time scam in the end

The story behind Etherum Classic proves that pretty eloquently

[Pettuh4]

Why not???
I don't think so, Bitcoin is becoming a profitable sector of investment and saving, people are going to be involved in this platform nowadays, day by day Bitcoin is getting more acceptable and credible, so it is just a matter of time to become number one for long..so keep calm and use Bitcoin..

I absolutely agree, there are those who never sees anything good in Bitcoin and they will ride on the least tumble in Bitcoin prices to spit out venom against it. I don't know their motivations but it leaves me with one conclusion-mere hatred. Bitcoin is flourishing by the day and with persistent increase in demand it is enjoying corresponding increases in value so why won't it be number one for long?

[Skieleton]

BTC is the virtual equivalent of USD. The reason is BTC and altcoins. Currently 1 BTC costs 2500 USD, while ETH is only 354 USD. I do not believe that Etherum will be a rival for BTC.

[freeyourmind]

BTC is the virtual equivalent of USD. The reason is BTC and altcoins. Currently 1 BTC costs 2500 USD, while ETH is only 354 USD. I do not believe that Etherum will be a rival for BTC.

The price of the cryptocurrency doesn't matter that much because it doesn't take into account the number of coins available.  I'd compare based on market cap.  Right now Bitcoin and Ethereum have market caps of $42 billion and $34 billion USD respectively.  Ethereum is at 81% and it has been increasing steadily for the past few months.

[prieaji]

Indeed bitcoin will not be number one forever but bitcoin will try to be number one forever.

[ya6yaya]

i read ethereum doesnt serve the same purpose as bitcoin and was thus not to be compared to bitcoin as they arent in the same category so their values are each in a league of their own.  ethereum is a fuel coin whereas bitcoin actually holds real value

[richardsNY]

The price of the cryptocurrency doesn't matter that much because it doesn't take into account the number of coins available.  I'd compare based on market cap.  Right now Bitcoin and Ethereum have market caps of $42 billion and $34 billion USD respectively.  Ethereum is at 81% and it has been increasing steadily for the past few months.

Basically any financial statistic from altcoins is not something you should look at if you haven't been looking at the actual usage first. Reality will show that despite the sharp increases that a lot altcoins experienced lately, they haven't experienced much growth in terms of actual usage, aside from the speculative part. No matter how many people threaten to move over to altcoins because they are faster and cheaper, it has all been nothing more than big talk.

[densuj]

I don't have any problem if bitcoins may not be number one for long, because the comunity of digital coins can makes choice which are the best digital coins to be number one replace bitcoins, in my opinions ethereum will be replace bitcoins and become number one the reasons for it is cryptocurrency market capitalization on coinmarketcap.com  except the other reasons like smart contract on ethereum's blockchain.

[A.H.Rassel]

Nothing appears an issue with bitcoin, at this moment ethereum has made a major development. This makes individuals feel that bitcoin may go down in esteem. In any case, actually more the development experienced, more will be the fitness and in light of this dependably bitcoin stands first no 1

[bestluck]

Why not???
I don't think so, Bitcoin is becoming a profitable sector of investment and saving, people are going to be involved in this platform nowadays, day by day Bitcoin is getting more acceptable and credible, so it is just a matter of time to become number one for long..so keep calm and use Bitcoin..

I agree with your points.  I will like to add that almost all of the companies which like to add crypto for their business will add only bitcoin and they are happy with that so it is the best of all.

[avikz]

I thought for sure it would take until the end of 2018 but it looks like this summer ethereum might pass it up. With the turmoil around BTC potential splitting, it might be very soon. IMO this is healthy, we will always value bitcoin for being the one that started it all, but it's time for a more dynamic and adaptable currency to take the lead.

Well, you may not be true in all senses. Bitcoin is the pioneer and it is still enjoying the highest market cap among all other crypto currencies. I understand that ETH has come up very fast and the way its market cap is increasing, it may defeat bitcoin. But the price factor is really hard to beat for ETH or any other crypto currency.

Bitcoin is not just a currency, it's an emotion to many people. I have come across few people, who have left their job to go full time on bitcoin. It is true that many people are now diversifying on ETH, even I have done the same. But it is almost impossible to beat bitcoin in pricing. I can't see that happening within few years.

[Colt22]

BTC is the virtual equivalent of USD. The reason is BTC and altcoins. Currently 1 BTC costs 2500 USD, while ETH is only 354 USD. I do not believe that Etherum will be a rival for BTC.

WEthereum is coming to increase in price more faster but still I do not think that it will be able to replace bitcoin because bitcoin is already used widely and any person who want to start his business often take the start from bitcoin.

[eann014]

Bitcoin may not be number one for long but I would still love bitcoin because as of today it can really help my family because I can have my extra income for them. I really like the bitcoin can increases its own value so maybe even if bitcoin may not be number one for long I would really appreciate how bitcoin existed in online world. 😊

[gribble]

Bitcoin may not be number one for long but I would still love bitcoin because as of today it can really help my family because I can have my extra income for them. I really like the bitcoin can increases its own value so maybe even if bitcoin may not be number one for long I would really appreciate how bitcoin existed in online world. 😊

Yes we are comunity of bitcoins, we will be always love bitcoins, even bitcoins is not be number one for long
but if bitcoins can gives us better life with gives extra income, bitcoins always be good choice than other altcoins
 so  depend on which are the digital coins that gives us extra income.

[pecson134]

It is an undeniable fact that even in other things bitcoins is also subject to be remove as a top virtual currency. There is no absolute rank in any kind of stature be it in work, achievement or games. Time will come they will fade slowly and new potential person or things will take the place for we don't know what the future holds. As to bitcoins there would probably be other altcoins that will take over and take the top spots in the future.

[Mazt rhiezt]

It is an undeniable fact that even in other things bitcoins is also subject to be remove as a top virtual currency. There is no absolute rank in any kind of stature be it in work, achievement or games. Time will come they will fade slowly and new potential person or things will take the place for we don't know what the future holds. As to bitcoins there would probably be other altcoins that will take over and take the top spots in the future.

I also justify what you say, in one day the value of coins change and certainly from year to year there will be a significant change of position. The point is we have to be smart to analyze where there are high value coins that we save. And that is almost destroyed we throw away. Because the value of a coin as high as anything will not be useful if we can not manipulate it in other words learn the character of the coin.

[epitome]

Of course indeed bitcoin will not be number one bacause other coins exist that exceed the bitcoin price

There could be thousands of coins out there in the virtual market but i do not see any promising coins that could overtake the place of bitcoin,if you think there are other promising coins which could over take bitcoin in terms of decentralization and without any pre mine,then i could say that there will be other coins ,most of the recent coin offers are token and it is entirely different than a currency.

[joshy23]

Of course indeed bitcoin will not be number one bacause other coins exist that exceed the bitcoin price

There could be thousands of coins out there in the virtual market but i do not see any promising coins that could overtake the place of bitcoin,if you think there are other promising coins which could over take bitcoin in terms of decentralization and without any pre mine,then i could say that there will be other coins ,most of the recent coin offers are token and it is entirely different than a currency.

I think there are no promising altcoins that you described, but I think there will be some that will try and challenged bitcoin in the long run. But I do think that bitcoin will remain as the top currency no matter what negative they throw at it. And once the high transaction fees can be resolved, then I think investors will go back to bitcoin ecosystem again.

[freeyourmind]

The price of the cryptocurrency doesn't matter that much because it doesn't take into account the number of coins available.  I'd compare based on market cap.  Right now Bitcoin and Ethereum have market caps of $42 billion and $34 billion USD respectively.  Ethereum is at 81% and it has been increasing steadily for the past few months.

Basically any financial statistic from altcoins is not something you should look at if you haven't been looking at the actual usage first. Reality will show that despite the sharp increases that a lot altcoins experienced lately, they haven't experienced much growth in terms of actual usage, aside from the speculative part. No matter how many people threaten to move over to altcoins because they are faster and cheaper, it has all been nothing more than big talk.

Wouldn't you say that every crypto is speculative right now?  I can't use even one of them in my daily life.  And how is it that you're looking at actual usage?

Either way, back to my response, market cap has some basis for comparison (to be taken with a grain of salt of course), where price alone doesn't.

[Biggapp]

Well, so many new coins for now, and so many have potentials, like eth and bytball. But, I think they are still pretty far away with bitcoin prices for now. I'm sure bitcoin will retain its position as the number 1 currency on the internet.

a lot of other currencies are also came into being and people are using it on huge scale but still the possibility of either being the number 1 does not exist, but still some people are very much worried about it's coming values but I am very sure that none of new currencies can ever beat Bitcoin even I think at least still coming next 5 years bitcoin will remain number 1  and always will be remain super currency as compared to other cryptocurrency.