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Author Topic: What if Ethereum replaces Bitcoin someday?  (Read 3280 times)
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August 15, 2019, 09:44:54 PM
Merited by tk808 (2), CryptopreneurBrainboss (1)
 #1

Ethereum, being the world's second largest cryptocurrency by market cap, has all the potential of replacing Bitcoin in the future. It's more than just a cryptocurrency, being a platform for the development and execution of smart contracts (aka dApps). With ETH, it's possible to launch alternative cryptocurrencies without the need to start a Blockchain from scratch. It's also possible to use the ETH blockchain for other purposes such as voting, proof of identity, verification of documents, and more. In contrast, Bitcoin's only use is for finance where it cannot be implemented in other areas by its own.

Given all of the benefits Ethereum provides on top of Bitcoin, it makes me wonder whenever it'll be able to replace the pioneer cryptocurrency within the future? As long as, Ethereum keeps progressing in development and mainstream acceptance, it'll be much closer to Bitcoin every step of the way. What are your thoughts? Huh


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August 15, 2019, 10:06:33 PM
 #2

When Ethereum replaced Bitcoin from market value, it represented the arrival of the new blockchain era. I think the technology application has already landed. I think that era will come, maybe it will be other cryptocurrencies. It is not necessary to be Ethereum. The future may also be other cryptocurrencies, just personal guesses.

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August 15, 2019, 10:19:22 PM
 #3

Those things you have mentioned are fact but nothing beats bitcoin as the best store of value.
And for ethereum to be able to replace bitcoin someday it needs huge gain for its market cap but I doubt this is will ever happen. I'm an ethereum holder though.



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August 15, 2019, 10:31:50 PM
 #4

ETH is better than BTC in terms of it's system or usage, but what makes BTC more powerful and popular is its natural feature, there's no changes, and still the same BTC that we love even before. I consider it as the money in crypto that everyone prefers to hold and trust, and I don't see it will be replace in the future, and although ETH has a lot of usage there's also a lot of altcoins in the market now that are competing and more in the future but that would not make bitcoin obsolete because it's what people chooses to hold and trust even more.

The dominant rate might drop but it will still lead in the market.

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August 15, 2019, 11:15:51 PM
Merited by tk808 (4)
 #5

Ethereum might be better than bitcoin in terms of usage but it won't replace Btc any time soon many people are still just learning about cryptocurrency and bitcoin being the current king of cryptocurrency is their first investment choice or is where they begin their research about cryptocurrency thereby gaining more users that Eth. As they begin to understand cryptocurrency then they will find out about other Crypto-currency like Eth and its amazing features and uses.

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August 15, 2019, 11:20:19 PM
 #6

ETH is better than BTC in terms of it's system or usage, but what makes BTC more powerful and popular is its natural feature, there's no changes, and still the same BTC that we love even before. I consider it as the money in crypto that everyone prefers to hold and trust, and I don't see it will be replace in the future, and although ETH has a lot of usage there's also a lot of altcoins in the market now that are competing and more in the future but that would not make bitcoin obsolete because it's what people chooses to hold and trust even more.

The dominant rate might drop but it will still lead in the market.

I do agree with this. Eth might have better ecosystem and every improvement they can do can be very visible to the public. However, the adoption is still wide as compared to bitcoin. I don't believe an altcoin can replace bitcoin in terms of popularity of usage in the very near future.

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August 15, 2019, 11:27:31 PM
 #7

I will say this is impossible. I don't see any reason ethereum can replace bitcoin. About volume, community, market dominance, etc. Ethereum cant. Even with many update of ethereum technology still can't replace bitcoin. I believe ethereum is no1 altcoin, not no1 coin.
Have the same thinking, it has served as a big competitor to the bitcoin which has made a new beginning for cryptocurrencies through the blockchain technology. Following this ethereum made its presence simplifying the technology and the same made it grow high in dominance. This way I too believe this to be the leader for altcoins, yet we don't know what happens in the future as technology can make anything get changed in no time.

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August 15, 2019, 11:29:47 PM
 #8

ETH is better than BTC in terms of it's system or usage, but what makes BTC more powerful and popular is its natural feature, there's no changes, and still the same BTC that we love even before. I consider it as the money in crypto that everyone prefers to hold and trust, and I don't see it will be replace in the future, and although ETH has a lot of usage there's also a lot of altcoins in the market now that are competing and more in the future but that would not make bitcoin obsolete because it's what people chooses to hold and trust even more.

The dominant rate might drop but it will still lead in the market.

I do agree with this. Eth might have better ecosystem and every improvement they can do can be very visible to the public. However, the adoption is still wide as compared to bitcoin. I don't believe an altcoin can replace bitcoin in terms of popularity of usage in the very near future.
its impossible to happen if ethereum or others altcoin has no adoption in any field.this the key for altcoin for replacing bitcoin.with its ecosystem actually ethereum growth massively.many projects till used this platfrom.overall bitcoin could not replaced now.

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August 16, 2019, 12:24:20 AM
 #9

Your own thread answered the title in a perfect way  Cheesy

It's a different kind of coins, and you have to consider the fact that a higher price in BTC is always good, but in ETH is not, some companies have to wait to launch their apps in ETH when the price is higher

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August 16, 2019, 02:10:03 AM
 #10

Yes, it is the fact thay ETH can do more than btc and you hsvr to consider others as well like binance having its own and keeps on moving to its tech so now with that being said there are a lot of project that can surpass or actually better than btc more usage but then again there is no argument in here. No other coin will replsce btc on the top. Period.

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August 16, 2019, 02:25:05 AM
 #11

Cryptocurrency is basically a speculative asset, so ether will never replace bitcoin. Everyone is hungry for profit, these new developments and their simplification are not important to anyone, the essence of our world is money.

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August 16, 2019, 02:37:22 AM
 #12

Ethereum, being the world's second largest cryptocurrency by market cap, has all the potential of replacing Bitcoin in the future. It's more than just a cryptocurrency, being a platform for the development and execution of smart contracts (aka dApps). With ETH, it's possible to launch alternative cryptocurrencies without the need to start a Blockchain from scratch. It's also possible to use the ETH blockchain for other purposes such as voting, proof of identity, verification of documents, and more. In contrast, Bitcoin's only use is for finance where it cannot be implemented in other areas by its own.

Given all of the benefits Ethereum provides on top of Bitcoin, it makes me wonder whenever it'll be able to replace the pioneer cryptocurrency within the future? As long as, Ethereum keeps progressing in development and mainstream acceptance, it'll be much closer to Bitcoin every step of the way. What are your thoughts? Huh

Ethereum is supposed to be a utility token. It has larger numbers in circulation than bitcoin would ever be and it's total supply is still not fixed.
It could replace bitcoin to get the number one position by total market cap considering it's supply and demand but it would not bitcoin for it's nature is bitcoin is a rare speculative coin.



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Rainbot
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August 16, 2019, 03:58:37 AM
 #13

Btc is transactions based technology and Eth is smart contract based technology both are two different verticals so both the coins grow individually

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August 16, 2019, 05:43:06 AM
 #14

I wont say its impossible but if its going to be ever possible for ETH to take over BTC then Big whales sell off all btc and move to ETH and ETH must find way to have the highest Volume i think thats why BTC is the king,if the strong community backing BTC up turns to ETH then BTC will lose its crown but all these seem impossible to achieve by ETH

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August 16, 2019, 05:44:39 AM
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Anything can happen in this cryptocurrency world, but for now I don't thing it will be happen. because influence of Bitcoin is very strong for the development of payments for digital currencies today. and if for another 5 to 10 years, who knows Huh

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August 16, 2019, 05:50:19 AM
 #16

Ethereum might be better than bitcoin in terms of usage but it won't replace Btc any time soon many people are still just learning about cryptocurrency and bitcoin being the current king of cryptocurrency is their first investment choice or is where they begin their research about cryptocurrency thereby gaining more users that Eth. As they begin to understand cryptocurrency then they will find out about other Crypto-currency like Eth and its amazing features and uses.


I don't think that would ever happen, Ethereum is growing and strong and the 2 best coin but it can never replace Bitcoin as Bitcoin has already had its roots deep down but it will still be great if such could happen

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August 16, 2019, 06:52:47 AM
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I only thought that if ethereum replaces bitcoin someday, it will change a whole cryptocurrency position and there will be a new placement for the new coins because, in that time, ethereum will be the number one in the market. But I don't think that ethereum can easily replace bitcoin, especially if people still confidence to use bitcoin as their main investment. It is hard to compete with bitcoin, especially if we see the price for bitcoin and ethereum and without having a huge supports from the people, ethereum will always behind bitcoin.



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August 16, 2019, 07:50:03 AM
 #18

No, Ethereum cannot replace Bitcoin. Bitcoin is the first public blockchain, it is the foundation, and it is designed to solve one problem - providing value in the cryptocurrency world.
And Ethereum is an application blockchain designed to solve a wide range of tasks. As we see, they have different paths and different purposes, so they will exist together.

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August 16, 2019, 07:57:58 AM
 #19

I understand the future of every project in the cryptocurrency space is uncertain and ethereum could grow to be very great, but it would be very difficult for ethereum to replace bitcoin. Bitcoin holds several features which makes it a better store of value. Ethereum by its nature is meant to be utilized as gas for sending tokens and execution of contracts that explains why the maximum supply is undefined.
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August 16, 2019, 08:14:50 AM
 #20

Ethereum, being the world's second largest cryptocurrency by market cap, has all the potential of replacing Bitcoin in the future. It's more than just a cryptocurrency, being a platform for the development and execution of smart contracts (aka dApps). With ETH, it's possible to launch alternative cryptocurrencies without the need to start a Blockchain from scratch. It's also possible to use the ETH blockchain for other purposes such as voting, proof of identity, verification of documents, and more. In contrast, Bitcoin's only use is for finance where it cannot be implemented in other areas by its own.

Given all of the benefits Ethereum provides on top of Bitcoin, it makes me wonder whenever it'll be able to replace the pioneer cryptocurrency within the future? As long as, Ethereum keeps progressing in development and mainstream acceptance, it'll be much closer to Bitcoin every step of the way. What are your thoughts? Huh

I used to think like you when I believe that ETH and other altcoins will be the future of blockchain instead of BTC when the ICO fever happens in 2017. Well, Everyone knows what happens later  Roll Eyes
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