What if Ethereum replaces Bitcoin someday?

[Abiky]

Ethereum has great prospects, though it may be gradually updating its 2.0 version but then it has proven beyond reasonable doubt that it has the potentials of appreciating in value and operations. To what magnitude of update and upgrade it can attain before fulfilling such target, we are yet to known but then it can if it get upscaled. In all of its features

The 2.0 version of Ethereum might bring a huge boost in price, as people will regain the sentiment of FOMO. However, it looks very unlikely that ETH will replace Bitcoin anytime soon as there is a huge difference in market cap between both cryptocurrencies. In terms of technicalities, Ethereum is superior as it not only provides a means of payment (like Bitcoin) but also other applications far beyond reach. You can do all sorts of stuff with Ethereum, while that's not the case with Bitcoin. In this regard, it's believed that "Ether" will experience an ever-growing demand over time.

Once Ethereum scales towards millions of transactions per second, then its dominance on the market will rise without a doubt. However, I'm afraid that Bitcoin will remain as the leading cryptocurrency because many people trust it over alternative cryptocurrencies. After all, Bitcoin has been tried and tested over the years as the most secure Blockchain to date. Which is why, no other cryptocurrency has been able to take Bitcoin's place as the world's largest cryptocurrency by market cap.

Nonetheless, anything could happen in the future as crypto is highly volatile. At times, Ethereum will be in its ATHs while Bitcoin will be depressed in price and vice versa. What matters is that both cryptocurrencies will be here to stay for a very long time. Just my opinion

[tranduong123]

In fact, I see that since 2018 bitcoin has been more and more outstripped by Ethereum and other currencies in terms of capitalization, this is because people are not very interested in technology at the moment. Ethereum, on the other hand, is also having scalability issues.

[Stakeey]

Those two do not exactly make for interchangeable substitutes, however a flippenning might be a possibility

[Ozero]

In fact, I see that since 2018 bitcoin has been more and more outstripped by Ethereum and other currencies in terms of capitalization, this is because people are not very interested in technology at the moment. Ethereum, on the other hand, is also having scalability issues.

Yes, people are interested in the development of technology and, above all, in the scalability of cryptocurrency. So far, I see that it is Bitcoin that has a big problem in scalability. At the same time, a few days ago, Buterin announced that ethereum would soon have scalability of several tens of thousands of transactions per second. For Bitcoin, this is still unattainable. Therefore, everything can be. Cryptocurrency is developing rapidly and any so far inconspicuous coin can be a leader.

[r_delossa]

I have hoped that ETH would be on top of the market during early 2018, but we all know what happened. Right now, BTC is looking great, and ETH is still around 170 bucks, slowly climbing to achieve 200 per coin. Do not think that ETH would make it.

[jackblacksparrow]

I have hoped that ETH would be on top of the market during early 2018, but we all know what happened. Right now, BTC is looking great, and ETH is still around 170 bucks, slowly climbing to achieve 200 per coin. Do not think that ETH would make it.

Personally, I think that ETH missed its moment and is unlikely to replace Bitcoin in the next 5 years, I think ETH itself will be replaced in the future

[timfish]

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.

I think the fact that BTC will give was for ETH in the future is just a joke, I don't see that happening in the next ten decades.

I don't think ethereum can replace bitcoin because bitcoin is already known as a virtual currency and as an investment even non crypto users knows about bitcoin what it is. I think it will take many years to prove ethereum to become number 1 crypto.

[pragna]

Actually several times it was a common issue that ETH will replace BTC. Personally i think that could not happen where altcoins price going down day by day. YOu can say BTC price also going down but you should see price difference of ETH and BTC. Last 8 months BTC price was high 3k$ to 12k$ but ETH?? so i can not keep believe with ETH.

[Bisbee]

Today I sent the transaction to ETH and by default the gas price was set to 3 in the wallet, I had to wait about two hours until the transaction was sent. It turned out that the Ethereum network is overloaded today and all transactions take a long time. I think it's too early to say that Ethereum can replace Bitcoin until the problem of network scalability is solved.

[Bitcoin Seller]

Very difficult to explain because you can see for yourself that Ethereum still sees the price chart on Bitcoin. If Bitcoin falls then Ethereum will follow the chart. But I cannot be certain what will happen in the future.

I do not know if Ethereum 2.0 can bring such a revolutionary breakthrough but even, in this case, ETH will not replace Bitcoin. Only Bitcoin has the right to be called a real decentralized repository of value. In addition, only the first cryptocurrency has passed the long way from a narrow circle of people to the currency that is recognized around the world. Other projects simply entered this market and immediately received a certain price in dollars, taking advantage of the speculative mood of it.

[BryanK]

If Ethereum progressed then it would be possible to talk about some benefits. But at the moment we see an abandoned cryptocurrency on which work is not underway. Most likely Ethereum will not be able to get out of this hole and it will disappear. But if update 2.0 goes well, we can draw some conclusions, but it's too early for that.

[Alohadanc3]

Its not possible not even in years. Bitcoin and ethreum is very much different form each other. Bitcoin is the first crypto based on block chain technology. And in other hand ethereum is a platform based token. The purpose of these two token is very different form each other. And people mainly like bitcoin form any other coin. That's why you can see the dominance. 60% of the whole cap of the market is nothing but bitcoin. And the market cap is far huge that ethereum. So there is no point in discussion of this coin in different side.

[andreibi]

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?

First off, Ethereum is still considered an altcoin which means Bitcoin is the top dog, the coin with the most liquidity. And the Bitcoin price action usually reflects the sentiment in the whole of crypto. Ethereum needs to recover first and then it will beat the marketcap of Bitcoin by implementing the scaling solutions already.

[aprilnot]

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?

First off, Ethereum is still considered an altcoin which means Bitcoin is the top dog, the coin with the most liquidity. And the Bitcoin price action usually reflects the sentiment in the whole of crypto. Ethereum needs to recover first and then it will beat the marketcap of Bitcoin by implementing the scaling solutions already.

I think it's still not possible, even after ethereum can solve the problem of scalability and use POS. still bitcoin will be the first, because bitcoin still dominates the marketcap.

[prof7bit]

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?

First off, Ethereum is still considered an altcoin which means Bitcoin is the top dog, the coin with the most liquidity. And the Bitcoin price action usually reflects the sentiment in the whole of crypto. Ethereum needs to recover first and then it will beat the marketcap of Bitcoin by implementing the scaling solutions already.

I think it's still not possible, even after ethereum can solve the problem of scalability and use POS. still bitcoin will be the first, because bitcoin still dominates the marketcap.

Bitcoin dominates, but Ethereum is rapidly growing trading volumes. I think that next year Ethereum may come close to Bitcoin's trading performance. Few coins manage to build up trading volumes.

[Bitcoin+Fi]

This will never happen, because ETH has long since died out as a project and updates will simply support ETH on the 2nd place on the market, if anyone overtakes Bitcoin, it is definitely not ETH, but some new coin.

[djkyno]

Ethereum can't replace Bitcoin, first they are different cryptocurrencies, and secondly Bitcoin can't be replaced by any altcoin because it is the most successful cryptocurrency, and it has the biggest community and volume of trading, it is, in fact, affecting the markets of altcoins either when it goes up or down.

[alt-fire]

If Ethereum one day replaced Bitcoin - we will see a new market with new leader which can show capitalization much higher than BTC now.

[nanaimogold]

If Ethereum one day replaced Bitcoin - we will see a new market with new leader which can show capitalization much higher than BTC now.

While this looks technically and fiscally impossible, but on a softer note, at such event we can now expect double of current cryptocurrency market capitalization which means growth and adoption. But then I don't really see any of this coming to fruition

[adekogbe]

BTC is prevalent in all viewpoints, as far as network, volume and market predominance hard for different altcoins including ethereum to supplant the situation of bitcoin.
ETH keeps on advancing and advancement is showing signs of improvement yet it is as yet hard for ethereum to supplant bitcoin.
Ethereum has a capitalization the second biggest market after bitcoin, yet ethereum may almost certainly go with bitcoin