What if Ethereum replaces Bitcoin someday?

[BigBoom3599]

I don't think ethereum has what it takes to overtake Bitcoin in the number one position in coinmarketcap, don't get me wrong because I am a placard carrying fan of ethereum but I am just being realistic, while ethereum has definitely brought about great innovation to blockchain technology, if a coin would surpass bitcoin, it wouldn't be ethereum because ethereum does not have the scalability for worldwide adoption, if a coin were to do the impossible, it would be a coin with the required scalability for worldwide adoption and it would only surpass it when it is the default cryptocurrency being used the world over.

I don't see why Ethereum needs to be scalable for worldwide adoption to overtake Bitcoin, seeing as Bitcoin isn't scalable either. At the moment neither are scalable Ethereum has many plans to improve scalability but it remains to be seen how that actually works out. But I think we can all agree that scaling is probably the largest issue in crypto right now, and the coin that solves will have a very large chance to take the lead.
Bitcoin will always have its first mover advantage and its brand recognition, which will help it maintain its current lead. but that doesn't mean it will stay there forever. We'll see...

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[Classica35]

We only deceive ourselves when we compare others with bitcoin, particularly in terms of their end results, such as replacement. If any of them could survive the kind of experience bitcoin had, when it was still alone, then I could say that they might compete, but as it is, bitcoin is still and will continue to be the foremost.

[Kersh768]

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?

Ethereum has always been next to bitcoin for a long time already so seeing it replace bitcoin someday wouldn't be a huge surprise to us anymore. We've seen a lot of changes in the market already, it can really happen but it would take up a long time before happening first since Bitcoin's value is still so far away from bitcoin's. We've seen a lot of progress with Ethereum already even during Bitcoin's downfall after the sudden rise on 2018. There should be no competition still and let us keep on supporting both since they are really good as a cryptocurrency.

[Coroline]

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?

maybe you are right to say that ethereum is superior to bitcoin with the progress that ethereum has and its development, but if the value of market capitalization I think it's impossible ethereum will replace bitcoin, but that no one knows whether it will really happen in the future

[Denreal]

Both Bitcoin and Ethereum should have been in high competition, but if we are to be factual and be sincere about it, that is not happening. Instead, ethereum was struggling with XRP. Anyway, that is gone and I am not seeing it happen again. More updates from Vitalik and his team is what is needed most.

[Abiky]

I agree with you. Eth can never beat bitcoin. It cannot even come anywhere close to that. No doubt it has proved to be the best altcoin so far and indeed the most trustworthy among them but bitcoin is at a whole different level. Those who think there will be a day when ethereum is going to be the number one crypto coin, then they need to know this fact that it is bitcoin due to which altcoins got any recognition.

That's certainly true, mate. Without Bitcoin, many of the altcoins we know and love today (Ethereum included) wouldn't have existed. It's Bitcoin the one cryptocurrency which moves the whole Blockchain ecosystem within the mainstream world. All the eyes are on Bitcoin as it improves every step of the way. Considering that Bitcoin has a large market cap, it's very unlikely that Ethereum will take its place anytime soon. The gap becomes even greater between both cryptocurrencies as the bear market affects Ethereum and several other altcoins.

Despite these facts, Ethereum will always remain as an alternative to the Bitcoin blockchain for years to come. It already has been proven to be quite successful with its smart contract capabilities. Ethereum can complement Bitcoin in many ways, instead of replacing it. Where Bitcoin cannot meet certain requirements, Ethereum fills the gap and vice versa. Combining Ethereum's decentralized applications and Bitcoin's censorship-resistant payments, you get an unstoppable Blockchain ecosystem that delivers "banking to the unbanked" in an efficient manner than traditional banking. With due time, Ethereum will be able to improve until it's big enough for widespread use in the mainstream world. Just my opinion

[zidanw]

In fact, in my opinion there will be no new altcoin or anything that can replace bitcoin. surely if bitcoin is able to be replaced what will happen to the cryptocurrency market? wouldn't it make a big change from the current system. and the price of altcoin that I worry about will experience instability because bitcoin has decreased.somehow ethereum. any bnb and altcoin won't be able to replace

[wajik-tempe]

In my opinion it is also possible that ETH can replace Bitcoins in terms of its technology, if in terms of price I think it will not, because bitcoin remained the Crypto king.

It will depends on the community, if the community can build hype for ethereum and people are mass moving to ethereum as their main address i'm sure ethereum will not only surpass btc in terms of technology but also in terms of price. Everything that affect the price the demand, if people making hype of one coin and also the whales are confirmed that the coin is must have high demand, any coin could have big value.
So, anything can happen in crypto even a coin that will replace bitcoin's throne.

[loan.ruiu1]

There is a big chance in the future that Bitcoin won't stay at number one. Not only Ethereum but the other projects also like IOTA, Ripple, ADA and many more. Ethereum is just the main front runner now to unseat Bitcoin because it stayed in the second spot for years. But Bitcoin has a chance to continue being the king as it also scales. Bitcoin proved to be the best when it comes to security.

I don't think BTC will be replaced in the future! with a supply of 19m coins and cannot increase, there will be no inflation. Besides, BTC's blockchain technology is the father of many leading currencies. Finally, the community of BTC supporters is too large.

[Flor1982]

If Ethereum could follow the path of Bitcoin and supersede it then i think there is no huge significance change that will occur in the market because they are the same crypto currency and both are using Blockchain process therefore it's only the name will be changed but the crypto concept will still goes on. It will be just very lucky to those who holds Ethereum as they will be the next generation wealthiest people due to crypto currency investments.

[Sithara007]

Ethereum was first released on 30th July 2015. Since then a lot of analysts have predicted the death of Bitcoin and Ethereum replacing it as the most popular cryptocurrency. And Ethereum came very close in mid-2017. Back then the difference in market cap between the two currencies was just a few billion USD. The market share of BTC was only a couple of percentage points greater than that of ETH.

But once the ICO market crashed, ETH was also dragged along with it. And from first quarter of 2018 to this day, the ETH prices have been on a continuous downward spiral. A part of the blame should be put on the ETH developers as well. They were slow to roll out the bug fixes and updates. Even the release of Ethereum 2.0 have been postponed so many times.

[DonFacundo]

It is hard to believe that ethereum replaces bitcoin someday, but if that happens in the future then there is nothing wrong, bitcoin will still running even ethereum is become no. 1 crypto for crypto enthusiasts.

[princeyeboah]

In terms of market cap, Bitcoin supersedes Ethereum more than 8 times. In terms of market volume, Bitcoin supersedes Ethereum almost three times. This is a clear indication that for Ethereum to replace Bitcoin on the number one position, a lot of work and developments is required of Ethereum.

[tinyteapot]

To be honest, Ethereum have really tried in the area of token development, number of transactions made per seconds and other services related BUT ethereum is a good captain and it will never replace BTC in price value and market dominance.

BTC more advance development started with the introduction of bitcoin hard fork coins and such development can make btc to continue its dominance for a very long time.

[Bitfling]

To be honest, Ethereum have really tried in the area of token development, number of transactions made per seconds and other services related BUT ethereum is a good captain and it will never replace BTC in price value and market dominance.

BTC more advance development started with the introduction of bitcoin hard fork coins and such development can make btc to continue its dominance for a very long time.

For the next few years, I think it's hard as any coin shifts the place of bitcoin in the first place. Ethereum is now starting to have many competitors and it could be that in the next few years there are coins that have scalability technology and outperform technology owned by ethereum

[tungaqhd]

If Ethereum could follow the path of Bitcoin and supersede it then i think there is no huge significance change that will occur in the market because they are the same crypto currency and both are using Blockchain process therefore it's only the name will be changed but the crypto concept will still goes on. It will be just very lucky to those who holds Ethereum as they will be the next generation wealthiest people due to crypto currency investments.

I don't think so because this is not an alternative between the average altcoins in the market, this is an alternative between the second and the first position, these are the coins that can say have a strong connection and impact on most other altcoins, this replacement will cause many activities, even the market price will change greatly. But maybe the rate and hope for this event is not high when most users are pouring money into bitcoin, it is very difficult to overthrow bitcoin, the resistance is always very strong

[Abiky]

Ethereum was first released on 30th July 2015. Since then a lot of analysts have predicted the death of Bitcoin and Ethereum replacing it as the most popular cryptocurrency. And Ethereum came very close in mid-2017. Back then the difference in market cap between the two currencies was just a few billion USD. The market share of BTC was only a couple of percentage points greater than that of ETH.

But once the ICO market crashed, ETH was also dragged along with it. And from first quarter of 2018 to this day, the ETH prices have been on a continuous downward spiral. A part of the blame should be put on the ETH developers as well. They were slow to roll out the bug fixes and updates. Even the release of Ethereum 2.0 have been postponed so many times.

That's certainly true, mate. The ICO boom of 2017, greatly benefited Ethereum in many ways. The world's second largest cryptocurrency by market cap was very close to overcoming the pioneer cryptocurrency by a slight margin. By that time, many people believed that "The Flippening" would come true as Ethereum became closer to overcoming Bitcoin's market cap. But after governments decided to crackdown on ICOs, Ethereum hasn't been the same. Because of this, prices have declined massively along with market cap. As of now, the difference between Bitcoin and Ethereum's market cap is very noticeable. There's a large gap between both cryptocurrencies that's very unlikely to change in the future.

Unless, Ethereum scales for the world with PoS and Sharding, there won't be much people using it at a large scale. Without huge mainstream adoption, demand will decline as well. Ethereum has been delaying its scalability upgrades day after day, while there are now several alternatives (like EOS, TRON, and even Cardano) which are much faster and cheaper for smart contracts. The competition is fierce, which means that Ethereum needs to give "more than meets the eye" in order to topple Bitcoin anytime soon. But that scenario is highly unlikely to happen in the future as Bitcoin remains the one cryptocurrency that's secure and reliable unlike no other known cryptocurrency today.

Nonetheless, it looks like Ethereum's outcome in the future is to complement Bitcoin rather than replacing it. After all, many people still trust Bitcoin on top of other altcoins on the market. Ethereum will have its specific use cases, as well as, Bitcoin. The pioneer cryptocurrency's store of value properties will allow it to remain highly valuable for the foreseeable future. Ethereum's inflationary model (with an unspecified max supply) would devalue its "Ether" cryptocurrency over time rendering it uncapable of taking Bitcoin's throne anytime soon. Just my opinion

[bitcoinposts]

Eth and Btc both are different technology btc is meant for transactions and where as eth is meant for developing smart contracts  so being different in market capitalization it cant be replaced

[akmal1984]

Technologically it could be Ethereum will replace Bitcoin. However, as a crypto currency, in my opinion bitcoin will never be replaced by any coins. Bitcoin is a symbol of crypto. People are more familiar with bitcoin than crypto, this is a fact that I have encountered. So I think that at any time Bitcoin will still be the main star of crypto

[Abiky]

Technologically it could be Ethereum will replace Bitcoin. However, as a crypto currency, in my opinion bitcoin will never be replaced by any coins. Bitcoin is a symbol of crypto. People are more familiar with bitcoin than crypto, this is a fact that I have encountered. So I think that at any time Bitcoin will still be the main star of crypto

Exactly. In terms of technicalities between both cryptocurrencies, Ethereum wins by a long shot. But in terms of market capitalization and pricing, that's another story. I believe that at this point in time, is relatively impossible to replace Bitcoin as it has grown into an immense Blockchain ecosystem. There are thousands of supporters in Bitcoin, while that's not the case with Ethereum. The pioneer cryptocurrency has managed to establish a trusted branding over the years. Being the original cryptocurrency that started this craze, it's no wonder why it has retained its top spot on the market.

Despite this, I believe that Ethereum will be here to stay for a very long time. It doesn't matter if its able to replace Bitcoin or not within the future. What truly matters is if Ethereum is capable of delivering real usability for the mainstream world. And so far, the world's second largest cryptocurrency by market cap has done a great job at it. As of now, Ethereum serves as a great complement to the Bitcoin blockchain by providing smart contracts functionality. In areas where Bitcoin cannot fulfill certain tasks, Ethereum fills the gap. With a supportive community and active development team, Ethereum will last a lifetime. Just my opinion