Bitcoin capital fleeing to Ethereum?

[pera]

I have avoided Ethereum like the plage since day one mostly because of technological reasons, and when the DAO fiasco happened I felt like I proved my bias against it. Having said that, from a market perspective I have to admit that Ethereum had an amazing performance during the last four months, and it's doing remarkably well during this bloody January.

Right now Bitcoin have a market cap of $172B, and for Ethereum it's $110B. If this trend continues we may get overpassed this quarter, and since it seems like no new money is coming to the crypto market in general I wonder if people are, for whatever reason, swapping Bitcoin for Ethereum.

Are bad programmed smart contracts running over an insecure platform that hot for this market?

[DPoS2]

I wondered the same..  I figured that Ethereum would need to have a 2.0 version type coin to iron out all the code but who knows now..  it seems the first mover is all it takes with it..

Seems Dash & Zcash might also do well..  Would be nice if LTC sticks around too..  perhaps buy on the dips across the main alts

[tippytoes]

I have to agree with you regarding avoiding ethereum before. Initially, it was too complicated for me. But then, it all started with the airdrop hype. Everybody is having their airdrop in eth platform. So I tried. Anyway, there's no harm in trying, right? And guess what, I earned a lot from those eth tokens. So I'm not complaining. There are a lot of advantages in eth platform that's maybe why a lot are utilizing now their services.

[junoreactor]

Yes it is doing well. Three weeks ago I was writing here that Ethereum is likely to have a better year than Bitcoin and I still think this way.
Eth transaction rate is increasing exponentially, doubling each month.
In December 2018 the transaction number will be multiplied by 4000.

The price is related to transaction number ergo price of Eth should keep rising at a good rate in 2018. It will remain dominant in this space for the foreseeable future, first mover advantage, network effect, has a huge ecosystem and many developments to deal with scaling. Circa 80% of dApps and ICOs are dependent on Ether.

Just my thoughts, no advice, do your own research.

Is investing risky at the moment?
IMO low risk, as it is a global decentralized network that can't be shut down and sits at the base of the smart economy which should finally become a reality this year.

Eth shot so much already? Well yes it did, but this is looking into the future of a fundamental global network that is in very early adoption mode, not at the past.

What happens when Ether moves to PoS? Its coin is limited to 100 million. Lots of juicy price inflation.
Are corporates and hedge funds going to buy Ether? Well with this kind of numbers and possible returns, it seems likely.

Can you still lose money in 2018? You can always lose money in any investment you make, there is always a risk, big correction and so on, especially if you think short term.

Could you make bank? IMO there is a possibility that it could do 10x.

[Cobalt9317]

I have to agree with you regarding avoiding ethereum before. Initially, it was too complicated for me. But then, it all started with the airdrop hype. Everybody is having their airdrop in eth platform. So I tried. Anyway, there's no harm in trying, right? And guess what, I earned a lot from those eth tokens. So I'm not complaining. There are a lot of advantages in eth platform that's maybe why a lot are utilizing now their services.

Ethereum is increasing in value because just like you said more company is using smart contract base on Ethereum.

But the probability of Ethereum to surpass Bitcoin is highly unlikely to happen, a lot of user is trading their Bitcoin for Ethereum now because it looks like the price is increasing, But that is only temporarily we can see some sell in high and will lead Ethereum to the stable price and chances are Bitcoin capital will remain.

P.S But I really doubt that Ethereum will not surpass Bitcoin a lot of company are now using the technology of ETH.

[SheepSuit]

There are also more and more coins with smart contracts emerging. I think there has to be room for both, but in the long-run bitcoin will still be the main cryptocurrency in my opinion.

[Herbert2020]

I have avoided Ethereum like the plage since day one mostly because of technological reasons, and when the DAO fiasco happened I felt like I proved my bias against it. Having said that, from a market perspective I have to admit that Ethereum had an amazing performance during the last four months, and it's doing remarkably well during this bloody January.

well there have been a TON of altcoins that performed amazingly during the last four months and last year  generally. a lot of them even outperformed ethereum in the past couple of months. but the issue with most people around here is that they only look at coinmarketcap and don't bother going lower than #10

the real money lies within coins that are manipulated exactly like ETH but have a smaller market cap and price so they can be pumped much easier.

Right now Bitcoin have a market cap of $172B, and for Ethereum it's $110B.

because bitcoin has 16,800,000 coins while ethereum has 97,330,000 coins. that is 5.79x more supply while it has 0.63x bitcoin's market cap!

[realr0ach]

All posts in this thread are 100% bullshit.  The ONLY reason the price of eth is going up is because bankers bought most of the Eth premine, so Ethereum is their scamcoin of choice amongst the 1400 scamcoins that exist (including bitcoin).  It is not rising because anyone is using it for anything (except ICO scams).  It's rising because the bankers are attempting to manipulate it up.

[NorrisK]

Right now Bitcoin have a market cap of $172B, and for Ethereum it's $110B.

because bitcoin has 16,800,000 coins while ethereum has 97,330,000 coins. that is 5.79x more supply while it has 0.63x bitcoin's market cap!

What do supply and market cap have to do with eachother? The only thing it shows is that the value per coin is lower for a higher supply coin..

[TERA2]

Im still awiting for Ethereum to correct to $30. Its going to happen eventually. Like litecoin correcting from $50 to $1

[BTCLovingDude]

Right now Bitcoin have a market cap of $172B, and for Ethereum it's $110B.

because bitcoin has 16,800,000 coins while ethereum has 97,330,000 coins. that is 5.79x more supply while it has 0.63x bitcoin's market cap!

What do supply and market cap have to do with eachother? The only thing it shows is that the value per coin is lower for a higher supply coin..

market cap is supply multiplied by the price
↑ supply => ↑ M.C

[Samarkand]

The current price of ETH is completely unsustainable.
There is not a single dApp that has a huge userbase and I´m also
not seeing the emergence of one in the foreseeable future. Besides, more than 31M $
are rewarded in mining rewards every 24 hours (Bitcoin mining rewards are 17M $ per 24h).
If we assume that most of these get sold
within a month and miners don´t hold the block rewards for the long-term
Ethereum needs fresh capital inflows of ~900M $ just to keep its current
price level.

The switch to PoS keeps getting postponed, which could be an indication
that there are unsolved problems. Besides, it is questionable whether Proof-of-Stake
is even technically viable at all. There is a reason why Satoshi Nakamoto decided to use
Proof-of-Work for Bitcoin.

To sum up, I´d guess that the upside for Ethereum is extremely limited
and it is much more likely that it will eventually fall all the way back to
sub-100 $. I haven´t even taken into account the possibility that a better
smart contract platform emerges or that one of the current competitors
steps up and improves drastically.

[Capt00]

Im still awiting for Ethereum to correct to $30. Its going to happen eventually. Like litecoin correcting from $50 to $1

Why you are waiting for that man? Don't you ever happy that ethereum reaching $1000? This is a big chance for us, their value today seems to be a big help for other altcoins to grow and with that we can generate more profit from them.

[TERA2]

Im still awiting for Ethereum to correct to $30. Its going to happen eventually. Like litecoin correcting from $50 to $1

Why you are waiting for that man? Don't you ever happy that ethereum reaching $1000? This is a big chance for us, their value today seems to be a big help for other altcoins to grow and with that we can generate more profit from them.

Why would I be happy about an Ethereum rally? It's a bitcoin competition and it's basically centralized. If what you are saying is true then maybe. However I doubt that Ethereum is solely responsible for altcoin rallies. Altcoins had huge rallies before there was even an Ethereum. Anyway regardless of if I am happy about , Eth has risen way too much without a major correction. It basically went straight from $10 to $1500 in a matter of months - that's a 15,000% gain - that does not happen in crypto without triggering a huge bear market.

[LoyceV]

I have avoided Ethereum like the plage since day one mostly because of technological reasons, and when the DAO fiasco happened I felt like I proved my bias against it.

I felt the same; Ethereum had one USP: "Code is law!". They broke that, which makes them a useless centrally controlled altoin. Created with one goal: make the creator rich!

Having said that, from a market perspective I have to admit that Ethereum had an amazing performance during the last four months, and it's doing remarkably well during this bloody January.

The market can be irrational. Right after the DAO-failure, I never expected so many people to keep buying this coin that can fork at any time!
Ethereum has also been massively used by ITOs (most of them under the fake name ICO). Hundreds of them have a similar looking website, some random BS "idea", many promises, a BS roadmap, and people have been throwing a few billion dollars at them last year. Since they sell tokens running on Ethereum, it profited from this.

Right now Bitcoin have a market cap of $172B, and for Ethereum it's $110B. If this trend continues we may get overpassed this quarter, and since it seems like no new money is coming to the crypto market in general I wonder if people are, for whatever reason, swapping Bitcoin for Ethereum.

The Ethereum-boys have been saying that for a long time now. One way or another, it doesn't matter, Ethereum is nothing like Bitcoin.

Are bad programmed smart contracts running over an insecure platform that hot for this market?

Apparently! If the DOA taught us one thing, it's that nobody understands smart contracts, which renders them useless. I haven't seen a real application yet.

[oda.krell]

I don't understand the aversion to Ethereum (or other alts), especially from speculators that otherwise seem to be pretty dispassionate about the market.

What's wrong with holding a diversified long-term position, where the ratios approximately correspond to your long-term belief of success of the respective asset?

Taking that view, one could still have the most faith in BTC coming out on top, but grant that ETH serves a purpose as well, for example: as a bet on "single competent person in charge of an open-source project", think: Linus Torvalds and Linux kernel development.

[xLays]

Look at coinmarketcap now! Its only 40 billion difference to overtake bitcoin capital. ETH hodler are laughing today. Including me.

[Gameroid]

I have to agree with you regarding avoiding ethereum before. Initially, it was too complicated for me. But then, it all started with the airdrop hype. Everybody is having their airdrop in eth platform. So I tried. Anyway, there's no harm in trying, right? And guess what, I earned a lot from those eth tokens. So I'm not complaining. There are a lot of advantages in eth platform that's maybe why a lot are utilizing now their services.

Ethereum is increasing in value because just like you said more company is using smart contract base on Ethereum.

But the probability of Ethereum to surpass Bitcoin is highly unlikely to happen, a lot of user is trading their Bitcoin for Ethereum now because it looks like the price is increasing, But that is only temporarily we can see some sell in high and will lead Ethereum to the stable price and chances are Bitcoin capital will remain.

P.S But I really doubt that Ethereum will not surpass Bitcoin a lot of company are now using the technology of ETH.

Yes that can also be a reason but i think that some people who cannot wait for the price of bitcoin to increase they  withdrawal their investment fro bitcoin and now investing it in Etherium and other coins, but i am sure that when bitcoin will start increasing its price, they will again convert their assets into bitcoin, In fact bitcoin is more reliable than any other currency.

[richardsNY]

It could be the case for a small fraction of the people, but the point is that Ethereum doesn't need Bitcoin capital to increase further. The major part of the altcoin market is sinking as well, so in the same way one could ask whether or not people are selling them for Ethereum as well. People should just calm down. Don't forget that Ethereum has reached current levels last year already, so it's not that much of an achievement after all -- the only difference is that due to Bitcoin's price, Ethereum managed to reach an all time high based on the fiat, and not necessarily based on their price in terms of BTC. That's something people tend to overlook.

[XCANA]

I strongly believe that so many people are currently converting their Bitcoin to ethereum as a result of the current market decline of Bitcoin and ethereum is still fair as compared to Bitcoin and bitcoin Cash decline in value.