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Author Topic: What would happen if another cryptocurrency took Bitcoins place in Market Cap?  (Read 2210 times)
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February 22, 2018, 07:05:58 PM
 #1

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?

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February 22, 2018, 07:09:40 PM
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So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
Then there would be a new "KING" if that thing do happen on seeing bitcoin is being overtaken by other altcoins in the market.It would surely be a record and lots of people would be shocked specially to those who hardly believe on bitcoin but we do all know this thing is really hard to achieve,its possible but would really takes time and consideration on the community on switching out into a new coin rather than on bitcoin itself.


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8CommaClub
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February 22, 2018, 07:13:52 PM
 #3

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
Then there would be a new "KING" if that thing do happen on seeing bitcoin is being overtaken by other altcoins in the market.It would surely be a record and lots of people would be shocked specially to those who hardly believe on bitcoin but we do all know this thing is really hard to achieve,its possible but would really takes time and consideration on the community on switching out into a new coin rather than on bitcoin itself.

So lets say theoretically , People saw Bitcoin and saw its many problems involving scalability etc , and dumped all of their BTC for whatever crypto... Say they took the entire market cap of BTC into ETH or XMR...

Wouldn't it be time for people to say goodbye to BTC and accept a new King?

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February 22, 2018, 07:17:50 PM
 #4

In that case, that coin would really have a good potential. I cannot see any new coin that can replace bitcoin yet. As we all know, a lot of people already trusted bitcoin and they consider it as the main currency because it's the first cryptocurrency to become very successful and bring convenience to everyone.

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February 22, 2018, 07:34:54 PM
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In that case, that coin would really have a good potential. I cannot see any new coin that can replace bitcoin yet. As we all know, a lot of people already trusted bitcoin and they consider it as the main currency because it's the first cryptocurrency to become very successful and bring convenience to everyone.

Interesting. So it pays to be first.

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February 22, 2018, 07:43:27 PM
 #6

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?

Well, it really is something that can happen and although I do not think that it can happen any time soon it really can happen. And it is just right to think about what might happen when it really does become reality.

If this happens, I think that it will really make a lot of bitcoin supporters lose money. But other than that, I really cannot see any other problems. Well, maybe if that happens there would be a huge dump in all crypto amd may take a long time before it recovers. But who knows? Oh well, we'll know when it happens. Lol.

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February 22, 2018, 09:00:01 PM
 #7

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?

then the currency would have more attention and conquer a huge community, bitcoin already has a huge community and the other currencies that are created receive altcoin name and that in itself already creates a certain disdain, as if that was not enough, the alcoin are in strong competition against each other which means that they will dispute the market limit between them leaving bitcoin as the leader


So lets say theoretically , People saw Bitcoin and saw its many problems involving scalability etc , and dumped all of their BTC for whatever crypto... Say they took the entire market cap of BTC into ETH or XMR...

Wouldn't it be time for people to say goodbye to BTC and accept a new King?

bitcoin has an anonymous creator that creates a sense of decentralization and at the same time makes people trust the currency, but other altcoins have their creators that are not anonymous and are centralized which in my opinion will make people not trust so much in the currency, based on my reasoning I do not believe people would dump their bitcoin to buy altcoin and that altcoin to become the new king

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February 22, 2018, 09:18:57 PM
 #8

Such a situation won't come because the last time another crypto tried to take over bitcoin, the particular coin faced its worst dump ever later on. So if the price*supply of one crypto exceeds the total market capital of bitcoin (which won't happen at least for a few years) the marks will start reacting and once they start reacting we definitely can see a dump in the near future.


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February 22, 2018, 09:20:07 PM
 #9

If another currency took over btc in m.cap right now, it would be big news and a surprise to allot of people, and it would be a big news to write about for many news agencies. This way, it would probably get allot of attention and pump even more by people that hadn't bought before, but bought when they saw the news report it. But if this was to happen in a recent time(1 year), I think it would drop and btc will keep its spot.
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February 22, 2018, 09:53:13 PM
 #10

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
Then there would be a new "KING" if that thing do happen on seeing bitcoin is being overtaken by other altcoins in the market.It would surely be a record and lots of people would be shocked specially to those who hardly believe on bitcoin but we do all know this thing is really hard to achieve,its possible but would really takes time and consideration on the community on switching out into a new coin rather than on bitcoin itself.

So lets say theoretically , People saw Bitcoin and saw its many problems involving scalability etc , and dumped all of their BTC for whatever crypto... Say they took the entire market cap of BTC into ETH or XMR...

Wouldn't it be time for people to say goodbye to BTC and accept a new King?
Now, I do not think there is any altcoin that can replace the bitcoin's position in the cryptocurrency market. Bitcoin always has a tremendous support community and its value, although volatile but stable, is the basis for evaluating other crypto coin. I believe in the next few years the value that bitcoin will have is huge because of its rarity.

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February 22, 2018, 10:09:25 PM
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Such a situation won't come because the last time another crypto tried to take over bitcoin, the particular coin faced its worst dump ever later on. So if the price*supply of one crypto exceeds the total market capital of bitcoin (which won't happen at least for a few years) the marks will start reacting and once they start reacting we definitely can see a dump in the near future.
It's nearly impossible but well anything could happened, also market capitalization aren't everything. When you see it stay for long time enough I think that time certain coin have a great functionality more than Bitcoin was. It's sounds dreamy but yeah that's what I think.

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February 22, 2018, 10:10:58 PM
 #12

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
Then there would be a new "KING" if that thing do happen on seeing bitcoin is being overtaken by other altcoins in the market.It would surely be a record and lots of people would be shocked specially to those who hardly believe on bitcoin but we do all know this thing is really hard to achieve,its possible but would really takes time and consideration on the community on switching out into a new coin rather than on bitcoin itself.

So lets say theoretically , People saw Bitcoin and saw its many problems involving scalability etc , and dumped all of their BTC for whatever crypto... Say they took the entire market cap of BTC into ETH or XMR...

Wouldn't it be time for people to say goodbye to BTC and accept a new King?
Now, I do not think there is any altcoin that can replace the bitcoin's position in the cryptocurrency market. Bitcoin always has a tremendous support community and its value, although volatile but stable, is the basis for evaluating other crypto coin. I believe in the next few years the value that bitcoin will have is huge because of its rarity.
Yes there are altcoins that is possible to replace bitcoin. The ethereum and ripple, I think they can do it since bitcoin has a problem right now dealing with transaction fees. Investors may change their preference in investing in cryptocurrency and may the reason why ethereum and ripple can change the game.

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February 22, 2018, 10:14:31 PM
 #13

Its difficult to imagine a scenario where an existing altcoin or fork achieves a higher market cap than bitcoin. Perhaps if a future alt were rolled out with significantly superior technical capabilities: greater transactions per second, higher security, better support for loans or assorted substantial improvements it might be possible for an alt to attain a higher market cap. The way things are now, it doesn't look as if there are serious contenders who are likely to dethrone bitcoin anytime soon.

If someday someone succeeds in building a better bitcoin which might be labeled a 2nd generation crypto currency in terms of it representing a noteworthy degree of improvement, then perhaps it could be a good thing if it embodied evolution, innovation and progress. It wouldn't necessarily be a bad thing or a negative if someone manages to improve on something that makes peoples lives better and empowers economies and world markets. Which could in turn elevate living standards and help decrease poverty and have other positive net effect.

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February 22, 2018, 11:02:23 PM
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Its difficult to imagine a scenario where an existing altcoin or fork achieves a higher market cap than bitcoin. Perhaps if a future alt were rolled out with significantly superior technical capabilities: greater transactions per second, higher security, better support for loans or assorted substantial improvements it might be possible for an alt to attain a higher market cap. The way things are now, it doesn't look as if there are serious contenders who are likely to dethrone bitcoin anytime soon.



I think Ethereum is already there in that it has quick confirmations and offers something bitcoin doesn't, which is smart contracts.

Ethereum is also gaining merchant adoption.

If it does take the #1 spot, things will be as now, just with the roles reversed. Bitcoin will continue to have it's die-hard fans, so it shouldn't have trouble maintaining the #2 position, perhaps building a niche for itself as digital gold.

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February 23, 2018, 12:27:59 AM
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I think Ethereum is already there in that it has quick confirmations and offers something bitcoin doesn't, which is smart contracts.

Ethereum is also gaining merchant adoption.

If it does take the #1 spot, things will be as now, just with the roles reversed. Bitcoin will continue to have it's die-hard fans, so it shouldn't have trouble maintaining the #2 position, perhaps building a niche for itself as digital gold.

The problem with ETH is that it depends on BTC. If BTC fails at any point you can expect a huge crash on all other crypto markets and the less real adoption the greater the crash. You could easily see it during the last BTC correction. There was a number of FUD news that targeted BTC and all markets suffered a hit. Coins like XRP that don't really have support and are based on the belief that they will be used by banks one day.
I'd be careful with putting huge money in ETH, because BTC has to succeed first to pave the way for altcoins.
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February 23, 2018, 11:01:54 AM
 #16

Firstly this is very unlilely because of the market sharebof bitcoin and its huge popularity and large userbase backing.
However, if the amount of coins curculating in the market is considered, bitcoin will lead because of it being the first and foremost cryptocurremcy ever launched.

And if majority of users dumped bitcoins for any other currency, then that new currency will gain the hughest market share and speculatively gain value aswell because of the crisis of that particular coin because everyone would be buying it.
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February 23, 2018, 11:42:44 AM
 #17

For me, nothing will change. The market is so unpredictable that we should get prepared to such change and never store all the eggs in one basket (I'm talking about crypto as investition).

The opinion that ETH depends on BCT is a fat lie. Please don't not make for yourself an idol from Bitcoin.
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February 23, 2018, 12:00:13 PM
 #18

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
It will happen if people lose confidence over Bitcoin its dominance decrease every year so theres a possibility that other cryptocurrency will overtake its throne. If that happens it will bring positive effect to the market specially to the prices, some crypto will be less dependent over it. 

       
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February 23, 2018, 12:11:39 PM
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So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
Of course, the market has very promising currencies, but the fact that someone can replace bitcoin - it seems not real, at the moment, for sure. Let's not go so far ahead  Wink

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February 23, 2018, 12:33:03 PM
 #20

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
It will happen if people lose confidence over Bitcoin its dominance decrease every year so theres a possibility that other cryptocurrency will overtake its throne. If that happens it will bring positive effect to the market specially to the prices, some crypto will be less dependent over it. 

Is its dominance decreasing or is the more adoption of crypto in general, it doesnt sound it but it is different I think?
there are more and more projects being created so they are going to attract more and more users and these currencies are all paired to BTC.
I know most people dont rate market cap but looking at bitcoin this time last the market cap was around $18,500,000,000
and today its around $174,000,000,000.
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