The Bitcoin Flippening

[dreamax25]

BlockTower Capital placed a $1M bet, saying that Bitcoin's price would be higher than $50K by the end of 2018. The bet expired on Friday, and unfortunatelly BTC traded at arround $3,800.

https://coincodex.com/article/2816/blocktower-capital-lost-1-million-bitcoin-price-bet/

[VitKoyn]

Now that XRP has managed to take Ethereum's place as the second largest cryptocurrency by market cap, it makes me wonder whenever XRP or another cryptocurrency could "flip" Bitcoin?
Once the flippening happens, things could change drastically at least in the way people see Bitcoin in respect to the rival cryptocurrency which has taken place as the world's first largest cryptocurrency by market cap. Of course, even after the flippening, Bitcoin would head its own way in development and innovation just as it has been today.
However, the perception will change as most people believe that market cap rankings determine the success and/or life of a cryptocurrency.
What do you think will happen after the Bitcoin flippening?

Though it is possible for Bitcoin flippening, it is still very unlikely to happen in the near future. Look at the market capitalization of both Bitcoin and XRP, Bitcoin is clearly way to far to be replaced by another cryptocurrency. And personally I don't think that only market capitalization determines the success of a specific cryptocurrency, anyone can create a coin that has billions of supply and sell it, it will surely gain huge market cap because of its circulating supply and this is why Ripple have huge market cap, look at the price of XRP, its not even $1 per coin but the market cap is $15 billion, it is because it has billions of circulating supply. Btw Ethereum is back again at top 2.

[#Bentley]

I think that despite all the speculations and attempts to manipulate - Bitcoin will still remain in the first place and will continue to be the first cryptocurrency for a very long time. By the way, bitcion this year also will have a large number of positive changes. His development team is also actively working.

[Abiky]

You're weeks late dude. ETH just recently regained the #2 spot. Probably check Coinmarketcap before posting.

src: coinmarketcap.com

Anyway, while XRP overtaking bitcoin is technically possible(non-zero possibility), I really don't see it happening. In the first place, I don't even know what XRP is being used for right now. If that happened though? Yikes. That's probably when I lose hope in the people in the cryptocurrency space.

Honestly I didn't check the crypto prices yesterday, as I was a little busy overall doing some chores. But, I'm glad to know that ETH is back at its place as the second largest cryptocurrency by market cap. This was a quick change, as days ago XRP was still the #2 cryptocurrency in market cap. Speaking of XRP overcoming Bitcoin in the future, there's a possibility of it happenning if the coin gets pumped in price due to bank partnerships and hype.

Also, Ripple controls a large number of XRP in circulation, which means that they could manipulate prices at their will. As far as I can remember, there was an article around the web (I believe it was from CNBC) which explained that XRP could overtake Bitcoin in market cap if it became worth $7. Considering that Ripple controls XRP, they could easily pump the price whenever they want to.

However, right now, ETH has taken back its place flippening XRP in the process. This is the usual behavior among crypto markets, as sometimes XRP is the second largest crypto by market cap, while ETH becomes third and viceversa. As for Bitcoin, it has remained as the first largest crypto by market cap for a long time. A change in this, will make quite an impact within the crypto space for sure.

Oh please!!!! XRP's market cap isn't even a quarter of Bitcoin's market cap and you are thinking of a possibility that it will overtake Bitcoin as the market leader. Even if you combined the market cap of both Ethereum and XRP you will still see that Bitcoin is still leading the race. But if you think that there will be a shift in the market leader with regards to the possibility of XRP overtaking Bitcoin what I only see is a short term struggle for Bitcoin's price as the market will really be a mess once the king is dethroned in the top spot.

That's certainly true, mate. However, anything's possible since XRP has flipped Ethereum several times. In the event that XRP becomes pumped by hype or by its internal company (Ripple), then it could easily surpass Bitcoin as the first largest crypto by market cap. Even so, XRP is not a cryptocurrency but more of a centralized database controlled by a single entity. It violates every principle of the blockchain since it lacks immutability and it depends on middleman or third parties.

As such, there's a possibility that XRP may or may not last for long depending on the amount of support it gets from people, and mainstream banks around the world. Which leaves us with Ethereum, as the one cryptocurrency with a better chance of overtaking Bitcoin in the future (which is unlikely) in the event that BTC declines in value drastically. Just my thoughts

[omonuyak]

Now that XRP has managed to take Ethereum's place as the second largest cryptocurrency by market cap, it makes me wonder whenever XRP or another cryptocurrency could "flip" Bitcoin?

Once the flippening happens, things could change drastically at least in the way people see Bitcoin in respect to the rival cryptocurrency which has taken place as the world's first largest cryptocurrency by market cap. Of course, even after the flippening, Bitcoin would head its own way in development and innovation just as it has been today.

However, the perception will change as most people believe that market cap rankings determine the success and/or life of a cryptocurrency.

What do you think will happen after the Bitcoin flippening?

Be informed that as at the time you open this thread ethereum has retake it position as a second Cryptocoins in terms of market capitalization.  I believe that ripple has just maintain that position on a temporary base and since that has happened I think we should know that ethereum still remains one of the most strongest coins.

[styca]

Now that XRP has managed to take Ethereum's place as the second largest cryptocurrency by market cap, it makes me wonder whenever XRP or another cryptocurrency could "flip" Bitcoin?

Once the flippening happens, things could change drastically at least in the way people see Bitcoin in respect to the rival cryptocurrency which has taken place as the world's first largest cryptocurrency by market cap. Of course, even after the flippening, Bitcoin would head its own way in development and innovation just as it has been today.

However, the perception will change as most people believe that market cap rankings determine the success and/or life of a cryptocurrency.

What do you think will happen after the Bitcoin flippening?

About mid-2017 I thought it was inevitable that ETH would take the #1 spot. A year and a half later I'm not so sure. To outsiders, Bitcoin IS crypto. I think it will remain number one for a long time. Everything depends on it as a trading pair. The flippening won't happen until fiat-to-crypto transfers (and vice versa) are cheap, fast and painless. Could be some time yet.

[go4crypto]

There appears to be no indication that another coin is likely to usurp Bitcoin from its top rank. Bitcoin should remain the uncrowned king of cryptos for a long time.

[trina]

I think the first position of bitcoin in the marketcap will not be replaced, because bitcoin is the parent of all crypto and is used as a reference, including in terms of price. and now the setback that happened in 2018 will soon turn into extraordinary progress, be patient.

[terrific]

XRP was kicked out of 2nd spot by ethereum again.
What will happen if bitcoin will get out of 1st?
Many will go out to the market as bitcoin is the symbol of the crypto.

[thinkpad99]

XRP was kicked out of 2nd spot by ethereum again.
What will happen if bitcoin will get out of 1st?
Many will go out to the market as bitcoin is the symbol of the crypto.

I do not think it will happen in the near future. Not even within 2-3 years. However, it is theoretically possible that will be created technology that will be faster, cheaper (lower power consumption) and easier to understand for ordinary users of fiat money. Then there is a chance that so strong coin will replace the king on the throne.

[Dragonrage201]

There is no coin worthy of taking over Bitcoin that is the numero uno coin and will remain so for a long time. Other good coins have their own purposes and utility.

[Ridwan Fauzi]

ETH has taken back the second position of XRP, and now the difference between the marketcap of both coins is $ 1 B, maybe a little more than a few months before. Althought I don't know what will happen in the next few years, but I get confidence if bitcoin will never be shifted in the first position of the cryptocurrency market.

[Abiky]

XRP was kicked out of 2nd spot by ethereum again.
What will happen if bitcoin will get out of 1st?
Many will go out to the market as bitcoin is the symbol of the crypto.

Yes. XRP has been brought to its knees again by Ethereum, thankfully. I believe that decentralized cryptocurrencies should be on top of centralized ones, for many obvious reasons. In case Bitcoin falls from the first place in market cap, then many people would switch towards the new leader or "King of Crypto" while they leave Bitcoin as a second alternative.

However, this seems highly unlikely to happen in the future considering how many altcoins depend on Bitcoin as a reserve cryptocurrency. Every time Bitcoin declines in value across the market, most altcoins follow. This means that one way or another, Bitcoin has a huge influence on other altcoins' prices. For the Bitcoin flippening to happen, a new cryptocurrency would need to emerge with superior features and technology than BTC. It would need to solve all the inherent issues within blockchain tech such as lack of scalability, fungibility, and more. Only then, the new cryptocurrency would probably surpass Bitcoin as the world's largest crypto by market cap.

Despite this, market cap rankings are highly dependent on the circulating supply and current price of a specific cryptocurrency. As such, if a cryptocurrency has a huge circulating supply with a low price, its market cap will be extremely low. Therefore, the Bitcoin flippening may not happen within the future after all. Just my thoughts

[vinbentrob]

Bitcoin is and will remain the first cryptocurrency.  Flipping is not used in the terms of postion of listed coin on coinmarketcap rather,  it is use to describe how you short a particular cryptocurrency to buy another or simply making profit in a short term!

[cryptomaster420]

Now that XRP has managed to take Ethereum's place as the second largest cryptocurrency by market cap, it makes me wonder whenever XRP or another cryptocurrency could "flip" Bitcoin?

Once the flippening happens, things could change drastically at least in the way people see Bitcoin in respect to the rival cryptocurrency which has taken place as the world's first largest cryptocurrency by market cap. Of course, even after the flippening, Bitcoin would head its own way in development and innovation just as it has been today.

However, the perception will change as most people believe that market cap rankings determine the success and/or life of a cryptocurrency.

What do you think will happen after the Bitcoin flippening?

I don't see a flippening in the near future, simply because in terms of pure value proposition only Bitcoin Cash deserves to be priced this high IF (and that's a big IF) they overtake BTC in terms of merchant adoption and use.
I don't see this happening any time soon.
Option #2 is a huge bear market where everything drops to 5% of where it is today, and a flippening becomes too cheap for some whale. Also highly unlikely

[patz22]

Any crypto can actually make a difference and can replace BTC at number 1 spot but the question is how and when, wherein what I can sure of is people wont lose hope in btc as this is the 1st crypto who changed the financial game.

Wait, ETH already got its 2nd place and I am thinking only if, if another crypto will replace btc the only answer that I have in my mind is ETH.

[consideritdone]

ETH making break out ahead of hardfork https://www.coingecko.com/en/coins/ethereum

[rose9696]

Now that XRP has managed to take Ethereum's place as the second largest cryptocurrency by market cap, it makes me wonder whenever XRP or another cryptocurrency could "flip" Bitcoin?

Once the flippening happens, things could change drastically at least in the way people see Bitcoin in respect to the rival cryptocurrency which has taken place as the world's first largest cryptocurrency by market cap. Of course, even after the flippening, Bitcoin would head its own way in development and innovation just as it has been today.

However, the perception will change as most people believe that market cap rankings determine the success and/or life of a cryptocurrency.

What do you think will happen after the Bitcoin flippening?

From my personal point of view, the BTC will never be defeated by any other altcoin. ETH had a bad downturn but that won't happen in BTC. it retains its power when its market cap accounts for more than 50% of the market share. It will never be defeated, you should know it.

[Cnut237]

I can't see anything replacing BTC as the main crypto now or in the near future. If one coin can do it, it's probably ETH. Maybe XRP, I don't know. The point is that even if it does happen it will likely be only once crypto has mass market adoption. Once smart contracts are a part of everyday life and once much cross-currency banking is done using XRP, then sure, they'd have a chance to be number one in cap.

[BitcoinHodler]

when some shitcoin pumps it doesn't mean it is going to replace bitcoin. it just means the pumpers moved from some other shitcoin they were pumping before to this new shitcoin to pump for a while and then dump to move on to another shitcoin and so on until they are filthy rich from the pumps.

that is what has been happening the altcoin market for nearly 8-9 years which is as long as it existed. the pumpers pump shitcoins and then some naive people think these shitcoins suddenly became good projects with a good future capable of coming even close to bitcoin
it ales me to see sometimes older members are among these naive people...