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Author Topic: What would happen if another cryptocurrency took Bitcoins place in Market Cap?  (Read 2210 times)
DMiracle1
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February 23, 2018, 01:09:43 PM
 #21

Ethereum has the most potential to surpass bitcoin's market cap and nothing else. This digital cryptocurrency goes from strength to strength. Ethereum will have the best long-term potential of any cryptocurrency though due to flexibility and smart contracts. And most ICO's backing it up, what could go wrong for ethereum?
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February 23, 2018, 01:17:14 PM
 #22

Then if the would have happened, we can expect the many developments of other alternate coins than those we already have in the market right now because many would believe if ethereum or other altcoins can rise above bitcoin then so can them. Many ICO's will be flurry in conducting business plan to attract many investors.

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February 27, 2018, 03:24:11 PM
 #23

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 depend on why did this happened, if this is because of some sort of bug in the code of bitcoin we can expect to see a huge crash of the market where only the best coins will be able to survive, but if this is simply the result of a new and better coin surpassing bitcoin due to its superior technology then the transition will be smooth, bitcoin will still be valuable but not as much since it is clear that much of the money that is currently on bitcoin will move to this new coin.
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February 27, 2018, 04:26:06 PM
 #24

I'm not entirely sure what this question is getting at. What exactly could happen, it's just a statistic, it doesn't really mean anything. Bitcoin could lose top spot for a number of reasons and the way the crypto market would be would change with each. Nothing all that spectacular would change though. Let's say ETH grows to overtake Bitcoin, it won't change anything.

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February 27, 2018, 04:39:48 PM
 #25

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 to reach that state, that means that 3 things could have happened.

1) People decided to pull most of their money out of Bitcoin, so the evaluation of it goes down and so does the market cap, allowing for a new coin to come up.

2) More people decided to put their money into a new coin than there already is in Bitcoin, so the new coin rises above bitcoin in terms of market cap.

3) A mixture of both of the above.

In the case that a new currency is seen as the "main" one, it's likely that it'll end up being the one that moves into the future for a while. We haven't really seen any coins that have taken Bitcoin's place, so it's very hard to state what would happen as of now, but I think if a new coin comes up, Bitcoin will go very far down.

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February 27, 2018, 04:59:45 PM
 #26

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 depends on the next coin to be the KING. If the Ethereum overcome bitcoin, the alts under the ethereum will grow along it. If NEO then alts under it. Same process depends on the coin. There will a be a new famous investment and some bitcoin holders may panic sell to prevent lost.

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February 27, 2018, 05:17:09 PM
 #27

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 depends on the next coin to be the KING. If the Ethereum overcome bitcoin, the alts under the ethereum will grow along it. If NEO then alts under it. Same process depends on the coin. There will a be a new famous investment and some bitcoin holders may panic sell to prevent lost.
Well, I don't think that Ethereum can overcome the value of bitcoin, since we are treating bitcoin as the mother of all cryptocurrency neither NEO. Ethereum has been here since 2014 and still its development is quite too low compared to what bitcoin has achieve during his early years.
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February 27, 2018, 05:25:28 PM
 #28

Nothing special would happen. Perhaps, the crypto sphere would become even more dynamic than how it is now, since people would get an even stronger sense of a world in a rapid change.

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February 27, 2018, 05:33:18 PM
 #29

I think slowly but surely other currencies like ETH, NEO or XRP will be catching up with Bitcoin if its slow transaction time is not dealt with. After closing the gap for a while will not be much of a surprise anymore when it is dethroned. Once that happens drops in BTC price will not drag the whole market down anymore
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February 27, 2018, 05:46:17 PM
 #30

Nothing special would happen. Perhaps, the crypto sphere would become even more dynamic than how it is now, since people would get an even stronger sense of a world in a rapid change.
Disagree completely, I think there would be a complete shit show for a couple of weeks to months depending on how hard the Bitcoin maxmalists want to drag it out. In the end though, if that does happen it will be better for everybody involved here and for the world, because if there is a blockchain that is more secure, immutable, censorship resistant than Bitcoin than by all means show me today!

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LeonardoDiCrypto
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February 27, 2018, 05:59:14 PM
 #31

Nothing special would happen. Perhaps, the crypto sphere would become even more dynamic than how it is now, since people would get an even stronger sense of a world in a rapid change.
Disagree completely, I think there would be a complete shit show for a couple of weeks to months depending on how hard the Bitcoin maxmalists want to drag it out. In the end though, if that does happen it will be better for everybody involved here and for the world, because if there is a blockchain that is more secure, immutable, censorship resistant than Bitcoin than by all means show me today!

You are right, I have to admit. My point of view was long term, after the storm and the shitshow. I didn't focus on the short term. Thank you for pointing out my lack of precision. But I see that long term we basically agree.

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February 27, 2018, 07:28:05 PM
 #32

Well, this idea is very difficult to achieve , especially in coming years because the king Bitcoin exceeds all currencies in many things ( Price, Market Cap, Volume..). So the most investors always choose Bitcoin as a best choice to develop their financial profitability. Furthermore, despite  that many governments tried to break it, but they always failed to achieve that goal, and always remains that currency at the top of the market, Although all the difficulties, Bitcoin always stays at the top of cryptocurrencies.
On the other hand , It is true that many currencies have evolved and progressed in a fast way ( like, Ethereum, Ripple, Cardano, Litecoin..) but  the problem that  this development is always limited. So it is very hard that someday, we'll see a  digital currency become better than Bitcoin.
 Everything is expected in the era of digital currencies so  if that happen ( Digital currency took Bitcoins place ), there will be a disappointment to many users but the only thing that will change is that most users will deal with that currency and it will be the new king.
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February 27, 2018, 07:41:11 PM
 #33

Nothing special would happen. Perhaps, the crypto sphere would become even more dynamic than how it is now, since people would get an even stronger sense of a world in a rapid change.
Disagree completely, I think there would be a complete shit show for a couple of weeks to months depending on how hard the Bitcoin maxmalists want to drag it out. In the end though, if that does happen it will be better for everybody involved here and for the world, because if there is a blockchain that is more secure, immutable, censorship resistant than Bitcoin than by all means show me today!

I think it's really difficult to predict the immediate effects of such a scenario, much less the longer term repercussions (or benefits) of such an event. As pointed out by some very astute observers, it would take a convergence of several unlikely scenarios for it to have a chance to happen, most significant being that people lose confidence or see less value in Bitcoin while at the same time doing the opposite for an alternative cryptocurrency.

The world and their governments right now only recognise Bitcoin - perhaps a small corporate segment is familiar with Ether. I cannot see a scenario where Bitcoin declines while another rises up. For almost the entire world outside of our community, crypto and blockchain is Bitcoin.

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February 27, 2018, 08:49:16 PM
 #34

We've been through different years and people are still talking about this idea of taking over bitcoin. But this is even better than the last time I've read about taking over the cryptocurrencies. If another coin will lead due to its market cap then so be it. That coin will be more popular and will start to lead out the crypto market so nothing new. For example with other coins, they are from the bottom and its now on the top 10. Nothing has changed, they are still volatile.

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February 27, 2018, 09:48:12 PM
 #35

They have possibility there's an altcoin that replace bitcoin to the cyrpto world.  First for sure the market cap will decrease and it will take few months before it will increase again because for sure after bitcoin die they have 5-10 altcoins will fight to be number 1. But for sure the highest percentage to become bitcoin Is ETHEREUM because we know this coin is the number 2.

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February 27, 2018, 10:31:28 PM
 #36

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
nothing just another new spot on the top ratings,what should we expect?bitcoin dominate this market since then and taking the throne from this isnt that easy.and i guess this will never happen atleast for 5-10 years from now.since the distance of prices is huge until now

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February 27, 2018, 11:19:14 PM
 #37

there would be confusions,wether to change  bitcoin and invest to another currency or remain to support bitcoin.we can not deny that investors are after for good profit so when another currency offers good value there is a tendency that they will grab it but on the other side they will be confuse also because of course they will consider the stability of the new currency....bitcoin is already there and i think no other currency would bet bitcoin.

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February 27, 2018, 11:42:40 PM
 #38

I don't see why people keep discussing something that potentially might happen, while it has happened numerous times already. Yes, you read that well -- Bitcoin's market cap has been surpassed by a few coins already, and it meant absolutely nothing. Ripple did it twice, and a few utter absolute trash coins did so too. Why? Because of how many coins as circulating supply there is available. Don't forget that Ripple with its 99.99 billion total coin supply has an easy way to inflate its market cap like its nothing. Ripple's most recent all time high was +$3.20, which basically translates into a $320 billion market cap. If Ripple at some point becomes $10, then it will have a $1 trillion market cap, and so forth -- do the further calculation yourself with higher prices.
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February 27, 2018, 11:53:25 PM
 #39

than btc dominance would decrease in the market, the news would talk more about the other king coin than btc and the trades as well as price indicators would be replaced with the other coin.

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February 27, 2018, 11:56:03 PM
 #40

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?
And do you see any problem in accepting of "new king"? It's sad but people somehow don't like to turn from bitcoin to another currency but to be real, we need develope, we don't have to stop on one thing. Is there anything better than bitcoin? Let's move on it. Will there be anything better than this "new king"? Move on better thing again.
Progress is must to have, there will happen only good things if another currency takes bitcoin's place because of it's better function.

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