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Author Topic: [2018-05-20] The ‘Flippening’ Of Bitcoin (BTC) Has Begun  (Read 69 times)
ruthbabe
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May 20, 2018, 05:58:20 PM
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Less than ten days ago, Ethereum World News, ran an article highlighting the dethroning of Bitcoin (BTC) from the number one spot by Ethereum (ETH) that had been predicted by Roger Keith Ver; also known as ‘Bitcoin Jesus’. This act of Ethereum gaining dominance over Bitcoin is known as ‘Flippening’ in the Crypto-verse and has been further defined below.

Flippening is a term that defines the act of one or more altcoins, no longer riding on the back of Bitcoin in terms of deriving market value from it. It marks the end of the dominance and special status of one coin in the form of market capitalization and popularity amongst crypto enthusiasts, and the entry of a new, better and more popular alternative.

More, https://ethereumworldnews.com/the-flippening-of-bitcoin-btc-has-begun/

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May 20, 2018, 06:26:35 PM
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The article assumes that the primary use of a cryptocurrency is trading for other cryptocurrencies. If that is true, then cryptocurrencies are doomed because they are useless, and it really doesn't matter who is on top. If it is not true, then the article is simply wrong.

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May 20, 2018, 10:08:20 PM
 #3

Ethereum was close to flip Bitcoin in the last year, but today there's no reason to think that it might happen, especially with all the recent problems and controversies surrounding Ethereum, while Bitcoin keeps getting good news, especially regarding its Lightning Network. Bitcoin Judas Roger Ver is just trying to team up with Ethereum, and Vitalik is known for attacking Bitcoin in attempt to boost ETH, but this doesn't matter in the long run, all coins will be judged by their technology when the hype will fade, and I don't see how ETH or Bcash can possibly compete with Bitcoin then.

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May 20, 2018, 10:31:07 PM
 #4

Less than ten days ago, Ethereum World News, ran an article highlighting the dethroning of Bitcoin (BTC) from the number one spot by Ethereum (ETH) that had been predicted by Roger Keith Ver; also known as ‘Bitcoin Jesus’. This act of Ethereum gaining dominance over Bitcoin is known as ‘Flippening’ in the Crypto-verse and has been further defined below.

Flippening is a term that defines the act of one or more altcoins, no longer riding on the back of Bitcoin in terms of deriving market value from it. It marks the end of the dominance and special status of one coin in the form of market capitalization and popularity amongst crypto enthusiasts, and the entry of a new, better and more popular alternative.

This is a laughable article. One of the points made in favour of Bitcoin losing its prominence is the "double digit" gains made by tokens like 0x and Aelf. Anybody who has followed the cryptocurrency market even for a week knows that with this volatility, coins which gain 10% are a dime a dozen.
The flippening was in the news a year ago. Now the market capitalization of Ethereum is less than half that of Bitcoin.


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Fatunad
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May 20, 2018, 11:10:31 PM
 #5

We cant really deny the possibilities that flippening would really happen yet we have seen already Eth dominance on last year on where it do almost reach out on Btc but somehow the pace didnt able to sustain on where it goes back as it should be. As of this moment ETH dominance cant really cope up with Btc which it does simply means support is still strong in the side of the King of Crypto but anything can really happen in a matter of time.
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May 20, 2018, 11:17:22 PM
 #6

Many exchanges still don't have ETH pairs, only BTC. Or they have much more BTC pairs. Something shocking would need to happen that Ethereum would put a shadow on Bitcoin. Maybe Bitcoin blockchain becoming vulnerable or something

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May 21, 2018, 01:28:33 AM
 #7

Christ, not this stupid bullshit again.

First - the whole metric they're using to compare is marketcap. Marketcap is a fucking useless metric in crypto, because its just Total Supply * Fiat Price. Bitcoin has 17 million coins @ ~8,488 Ethereum has 99 million coins @ ~720. For ETH to exceed the "marketcap", it would take a multiple of its existing level - either through coins or price.

Right now, the "marketcap" of BTC is ~144.6 Billion, and ETH is ~71.7 Billion. Ethereum would have to surge in price by at least 2x, which means a unit price of ~1,440. Even if ETH managed to do that, you're comparing two rather disparate coins, including their confirm times and inherent characteristics. BTC has rootstock and other protocols coming that could kick the knees out from under ETH and EOS, and ETH just has that "smart" contract stuff that has lost hundreds of millions in fiat for users.

If these idiots were at all introspective, they'd realize that with Rootstock (RSK), and Lightning soon with a proposed FULL ANONYMITY solution via Dandelion, will absolutely erase any competitive advantage that ETH has. Couple this with ETH's scaling problem - which still hasn't been solved - they are going to try a hybrid solution using Proof-of-Work and the highly risky Proof-of-(mis)Stake, which I'm sure will give Money Skeletor Vitalik a few brain clots trying to figure it out.

Point is, marketcap is bullshit, it doesn't show true utility -- and even if they make it there, it doesn't change that Bitcoin is evolving to become the default first-mover juggarnaut when it comes to features and network security. Moving fast and breaking things is the motto for short-sighted alts, being deliberate and not losing people money is the Bitcoin dev ethos.

I know which one I want - it isn't the one that had 100's of millions lost in production network "oopsies".

fortitudinem multis - catenum regit omnia
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May 21, 2018, 03:10:59 AM
 #8

I think most people in the world of cryptocurrency highly believe that if ETh lead the way, then adoption is much easier than it seems. Eth has the real people that works on the project unlike Btc that no one can give accurate roadmap to where it is going.
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