What if Ethereum replaces Bitcoin someday?

[Shasha80]

I honestly say that at any time no one will be able to defeat bitcoin, including ethereum. Even though ethereum can be used more
for payment, even ethereum technology is above bitcoin. But bitcoin is still stronger than ethereum, because bitcoin is more popular.
It can be proven that bitcoin has always dominated the market until now. Therefore, it is impossible for ethereum to replace bitcoin,
so it's not wonder bitcoin is called the king of cryptocurrency.

[bangjoe]

I honestly say that at any time no one will be able to defeat bitcoin, including ethereum. Even though ethereum can be used more
for payment, even ethereum technology is above bitcoin. But bitcoin is still stronger than ethereum, because bitcoin is more popular.
It can be proven that bitcoin has always dominated the market until now. Therefore, it is impossible for ethereum to replace bitcoin,
so it's not wonder bitcoin is called the king of cryptocurrency.

ETH chain does not aim for a single transaction system and only focuses on smart contracts that open space for many coins that want to be involved in the network, the ETH function cannot yet be measured to defeat bitcoin because it is still focused on network development, so not just because of popularity because eth is clear have it. It is more appropriate to refer to ETH as the king of altcoin for now.

[lepbagong]

It will never be possible. Because Bitcoin's technology is not possible to take over. Ethereum requires the use of many updated technologies.But I don't know if Ethereum has any technology of its own.

Indeed, no one has said that there will be who can replace bitcoin, but as long as the name suggests technology might happen that ethereum can replace it. but it takes time and hard work from ethereum, the first is to improve into ethereum itself and not accustomed to having to depend on bitcoin. but it does take time and hard work and is not easy for implementation to happen quickly. because bitcoin has grown and has become a reference for almost all altcoin.

[gwaposakon]

Ethereum has the potential to rise above bitcoin someday as it is now being adopted by many projects and companies in creating smart contracts. The ethereum platform also rapidly is being developed and upgraded. But with the dominance of bitcoin in the market right now, I don't see ethereum outpacing bitcoin anytime soon.

[d3nz]

Ethereum has the potential to rise above bitcoin someday as it is now being adopted by many projects and companies in creating smart contracts. The ethereum platform also rapidly is being developed and upgraded. But with the dominance of bitcoin in the market right now, I don't see ethereum outpacing bitcoin anytime soon.

I agree, there is a possibility that it could be on top and because of the supply of bitcoin and the reward are being halve then it has chance. Since a lot of projects are using the technology of Ethereum then it really affect the price to go down since a lot of those project are doing an exit-scam and that could be the reason on it is not still rising it value.

And once the value of BTC pumps up and for sure that Ethereum will follow up and maybe hit the ATH last 2017. And i think it will happen for sure.

[kikosamba]

Oh it will happen. The question is not if,  it is when.  I cannot tell you when,  take this from me. "Ethereum will surpass Bitcoin one day"

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?

[Gheka]

I honestly say that at any time no one will be able to defeat bitcoin, including ethereum. Even though ethereum can be used more
for payment, even ethereum technology is above bitcoin. But bitcoin is still stronger than ethereum, because bitcoin is more popular.
It can be proven that bitcoin has always dominated the market until now. Therefore, it is impossible for ethereum to replace bitcoin,
so it's not wonder bitcoin is called the king of cryptocurrency.

This king really has a strong dominance when he always attracts all investors regardless of good or bad conditions, and the very positive results are what we need to discuss, so many years have passed, Bitcoin is always rated as an investment that never brings loss as long as we still hold while the investments behind bitcoin are ethereum, xrp, litecoin, good moments never last too long, just for a while and then remain silent in the market. So when looking at the reality, the opportunity for ethereum to push bitcoin behind is no hope at all, Bitcoin has been an eternal product and cannot be surpassed for any reason

[kambaralikhan]

I think ETH can replace BTC and the reason is the difference between ETH and Bitcoin. The fact is that Bitcoin is nothing more than a currency, whereas Ethereum is a ledger technology that companies are using to build new programs. Both Bitcoin and Ethereum operate blockchain technology, however Ethereum's blockchain is far more robust.

[gweedo]

Never think that one day ETH could replace Bitcoin in this market. Basically, ETH cannot compete with bitcoin in terms of dominance in this market, how can ETH price go as high as bitcoin with an unlimited supply? Also ETH should be careful in the future because I believe there will be a few altcoins that will surpass it in the next 2-3 years, XRP and NEO will be the biggest rivals.

[Abiky]

Ethereum is different from Bitcoin, because it is more of a smart contract platform. But for usage as a currency, Ethereum doesn't have too many advantages over Bitcoin. The transaction fee used to be low, but it has increased lately. And a few months back, Ethereum was able to briefly overtake BTC in 24-hour transaction fees. And there are a lot of cheaper alternatives available for payment, such as BCH and BSV. The ICO sector is still down (with no recovery in the horizon), and this has further dimmed the fortunes of Ethereum.

That's certainly true, mate. Bitcoin is great for finance, due to its unmatched security against 51% attacks. Ethereum has a lesser degree of security than Bitcoin, meaning that it's not meant to be used as a reliable cryptocurrency for digital payments. After all, Vitalik designed Ethereum to serve as a platform for the development and execution of smart contracts that are censorship-resistant. There are many other uses within the Ethereum blockchain, the same way there are within the Bitcoin blockchain. If we were to make a comparison between said cryptocurrencies and real-world assets, you'll notice that Ethereum is more like "Oil" while Bitcoin resembles "Gold" in every way. Without Ethereum, people cannot execute decentralized applications on its blockchain network as it's the "fuel" required to perform worldwide computations. On the other hand, without Bitcoin, people cannot enjoy financial freedom where they get to control their own money (instead of greedy banks).

In terms of technicalities, we cannot deny that Ethereum is far superior than Bitcoin in every way. But, Bitcoin will always be the #1 cryptocurrency of the world because it has established a trusted brand that many people are fond of. The first thing they come up when joining the world of crypto is Bitcoin, not Ethereum. Considering that altcoins rely on Bitcoin to survive, I'd say that it's nearly impossible for the pioneer cryptocurrency to be replaced anytime soon.

Nonetheless, I believe that Ethereum will continue to grow alongside Bitcoin for many years to come. It serves as a complement to the main Bitcoin blockchain, than a competitor. With Ethereum and hundreds of other existent blockchain networks, Bitcoin can enjoy reduced stress on the network due to decreasing transaction load. The world's second-largest cryptocurrency by market cap has great ambitions for scalability than Bitcoin itself. With increased adoption of ETH, people will also come into BTC, benefiting both networks for the foreseeable future. Just my opinion

[Fatunad]

Never think that one day ETH could replace Bitcoin in this market. Basically, ETH cannot compete with bitcoin in terms of dominance in this market, how can ETH price go as high as bitcoin with an unlimited supply? Also ETH should be careful in the future because I believe there will be a few altcoins that will surpass it in the next 2-3 years, XRP and NEO will be the biggest rivals.

To add more to your statement. Eth dropped to top 3 when xrp took over the 2nd spot last year I really though that was the downfall of eth. That alone is the basis whether eth could replace bitcoin or not. I don't even see an alt in the market that come closer to where btc is today sitting atop of everybody with a very very far gap.

[Vishnu.Reang]

To add more to your statement. Eth dropped to top 3 when xrp took over the 2nd spot last year I really though that was the downfall of eth. That alone is the basis whether eth could replace bitcoin or not. I don't even see an alt in the market that come closer to where btc is today sitting atop of everybody with a very very far gap.

In reality, XRP never became the 2nd ranked cryptocurrency. The methodology for calculating the market capitalization of cryptocurrencies is flawed. In case of XRP, anywhere from 80% to 90% of the circulating supply is not in free-float. So the exchange rate of the remaining 10% to 20% is inflated. And they use the exchange rate of this 10% to calculate the market cap of Ripple. The actual market cap would be much lower than this amount.

[Diamond_Darrell]

Vitalik Buterin himself once said that bitcoin is an analogue of gold, and Etherium is an analogue of oil. I think that in real life we will not be able to buy goods for oil soon after crossing out the intermediary in the form of its cash equivalent.

[MOProgress]

From the topic, I want to say that, it is a good thing to dream. Now, I am not saying that It cannot be possible, but, It will be very difficult for this to happen.

[lousie9]

based on what i see that ethereum can be said to be the second largest altcoin after bitcoin. ethereum has many advantages that bitcoin doesn't have, especially as a smart contract for the ico project. but in terms of the price of bitcoin far superior to ethereum, I cannot fully compare this crypto, but I believe that these two coins have great potential for future investment.

[nickenburg]

This discussion has been going on for a long time if Ethereum may become greater then Bitcoin, back in the day everyone was talking about the flippening (Ethereum overtaking Bitcoin) and that was when Ethereum was around 3$ per Ethereum.
I don't think Ethereum can replace/become the number one Cryptocurrency anymore, Bitcoin will always be the Mother of all Cryptocurrency and it will be hard to beat.

But when Ethereum is going to Ethereum 2.0 it will be interesting to see what it will do with the price, also Ethereum is not fully utilized yet and when it will be used for all that it can do.
That will still take time and Ethereum is still being improved with in 2020 some good improvements, one of them being that smart contracts can be written in multiple coding languages not only solidity.

[Alice Nuttal]

I don’t think it will happen. They are not direct competitors, so there is to way for ETH to take Bitcon’s place. It’s just different. However, if you mean replacement in terms of price dominance, then I think that everything is possible. Luckily, I own both coins.

[Plinteng]

if Ethereum can replace Bitcoin, then people will switch to investing with Ethereum which is more expensive and profitable. but I think it is quite impossible if ethereum can replace Bitcoin in this cryptoqurrency space, I believe only bitcoin can survive and always dominate the cryptoqurrency market.

[Abiky]

This discussion has been going on for a long time if Ethereum may become greater then Bitcoin, back in the day everyone was talking about the flippening (Ethereum overtaking Bitcoin) and that was when Ethereum was around 3$ per Ethereum.
I don't think Ethereum can replace/become the number one Cryptocurrency anymore, Bitcoin will always be the Mother of all Cryptocurrency and it will be hard to beat.

But when Ethereum is going to Ethereum 2.0 it will be interesting to see what it will do with the price, also Ethereum is not fully utilized yet and when it will be used for all that it can do.
That will still take time and Ethereum is still being improved with in 2020 some good improvements, one of them being that smart contracts can be written in multiple coding languages not only solidity.

That's certainly true, mate. You can't beat something that started it all in the first place. Bitcoin, being the originator of Blockchain technology, has been a trusted cryptocurrency over the years. It is that trust which has prevented it from falling any lower in market capitalization. The Ethereum blockchain, although superior than Bitcoin in its technical aspects, has a lot to catch up before it becomes a real threat (if any) to Bitcoin. I'd say that the world's second-largest cryptocurrency by market cap (ETH) serves more as a complement to the main Bitcoin blockchain than anything else.

The real deal would be the transition from ETH's current PoW algorithm to PoS. Things will become interesting by then, as people will be hoarding more the cryptocurrency than they would ever sell. This could allow ETH's prices to rise like never before, due to the increased demand of the cryptocurrency across the market. While market cap will also rise, I don't think Ethereum will be able to "flip" Bitcoin anytime soon. The gap between both cryptocurrencies' market caps is very wide.

According to my calculations, Ethereum would need to be worth more than $1,568.15 per coin with the current circulating supply of 109,499,251 ETH to be able to surpass Bitcoin in market cap. That is, of course, if Bitcoin remains at its current price of $9,439.25 per coin. Considering that ETH and other altcoins rise in price once Bitcoin goes to the moon, it's practically impossible for ETH to become the largest cryptocurrency in the world. Despite this, Ethereum is bound to bring many excitement to the crypto space. The diversity of programming languages, greater scalability, increased privacy, and more, would make Ethereum one of the best blockchain networks in the world alongside Bitcoin. Combining both BTC and ETH, you'll get a massive ecosystem that gives banking to the unbanked without the need to rely on third parties (governments, banks, etc.) ever. And that's what matters after all. Just my opinion

[kevinzxz]

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?

in my opinion bitcoin will never be defeated by ethereum, because bitcoin is the first pioneer and many people prefer to use bitcoin as a transaction, so even though ethereum has a smart contrat system, but still people will use bitcoin to make transactions and besides that there are still many people who still believe to investing in bitcoin rather than ethereum, so I'm sure if bitcoin will continue to be the king of all cryptocurrency and no one can beat bitcoin (including ethereum).