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Will Bitcoin Be Dethroned by an Altcoin? Not in This Life

I started investing in Bitcoin in 2011. In the past 6 years, I have met so many people hailing that Bitcoin will be dethroned by an altcoin.

market cap eth

Today you hear eth activists say eth has reached new heights with a market cap of more than $17,85 billion, about 50% of that of bitcoin and it will soon overreach bitcoin. Tomorrow you hear litecoiners claim that as segwit is activated, litecoin will shoot for the moon and bitcoin will die in the long-dragging debate. I didn’t mean to sound critical, but I personally invested a lot of altcoins and got disappointed again and again. As of today, I don’t see any altcoins have the potential to surpass bitcoin.

Today, in the hustling city of Shanghai, looking at all the faces around me, I don’t know how, but suddenly all the old memory popped into my head. I can’t believe it has been six years and a lot of things have changed. Maybe it’s time to write down some of my stories with altcoins.

Ripple

When Jed created ripple, he hoped to make banking services available to those who cannot find a bank in their neighborhood. And at the very beginning, anyone could get free ripples by posting their emails on bitcoin talk. At that time, I was deeply touched by Jed’s vision and decided to popularize ripple in China. And it was me who translated Ripple and XRP into Chinese. Plus, later I wrote something like a guidebook From a Ripple Rookie to an Expert to help Chinese learn more about ripple. It can be said without exaggeration that I am one of the very first ripple pioneers in China.

But what happened later was pretty disheartening. Venture capitalists and bankers got involved and they wanted to raise money, earn revenues and go public, but Jed wanted to change the world. And thus the team failed to reach a consensus. Jed left the team and ripple became the personal property of the company ripple and Jed.

My first investment in an altcoin turned out to be a failure.

Nxt

Nxt is a success that can’t be copied, an overnight success realized by ICO. Nxt was designed by an anonymous software developer BCNext. BCNext, about 35 years old, is an active user on bitcoin talk. When Nxt launched its ICO, 73 contributors invested 21 bitcoins in total and they earned at least 10,000% rate of return on investment.

Actually, I was about to invest in this project, but there was something wrong with my bitcoin wallet and I missed it.

In the first several months since the inception of Nxt, it grew into the most popular altcoin on bitcoin talk. There were 1000 posts with 20,000 replies about it. And later when the Nxt community was established, BCNext left the community saying FBI was investigating him and he disappeared just like Satoshi.

Nxt is a second generation open source cryptocurrency that uses proof-of-stake to reach consensus for transactions . It is anonymous design plus crowd fundraising plus strong technology. So I hold a large amount of Nxt. But Nxt was such a low key, it did not do things to advertise it. And later when more altcoins were born, Nxt ranked outside the top 10 cryptocurrencies, which indicated that tech is not the only criterion when investing in an altcoin.

Bitshares

Actually, I used to support Bitshares. I read its whitepaper for several times and I was impressed by the concept of DAC(Distributed Autonomous Corporation). Bitshares was a great second generation cryptocurrency, but its creator was kind of whimsical. He increased the total supply of Nxt when all users were against it. As a result, BM was forced to leave the Bitshares and the price of Bitshares dropped drastically.

Ethereum

When it comes to assess the value of cryptocurrency, I think revolutionary technology is an important standard. And Ethereum, undoubtedly, is well-positioned to take the lead.

I am very familiar about the Ethereum project. In 2013, I started a bitcoin project with my friends in Shanghai and Vitalik came to visit us a lot. We would take him to visit blockchain investors all over China. When we visited btc38 in Shenzhen, CEO Huang Tianwei invited us for dinner. He said a lot of nice things about the project and promised to add it when it be launched. Btc38 didn’t launch it, not ever today. But that is another story, so I’d just stop here.

Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.

The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.

COMMENTS(114)

  • BitcoinAllBot
    3 months ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

  • ckydoge
    3 months ago ckydoge

    Seriously? cripple?

  • coinfreekz
    3 months ago coinfreekz

    There is just some intrinsic value of being the first and original even if it is lacking in some technologies. It’s like the original mona lisa compared to some posters you can buy on a bookstore.

    Maybe it can be beaten in market cap or volume as those can be manipulated, but certainly not in popularity.

  • Badmemoir
    3 months ago Badmemoir

    I like bitcoin.

    But honestly it sucks. I sent $300. It’s a $4 fee. It’s slow. Sure it went up in value but I can’t wait to buy an altcoin with it. It’s so slow and expensive. Unless it becomes fast and cheaper I won’t use it anymore. I’ll convert it to an alt and then reconvert it when they get it to hold value but as for using it, it’s terrible.

  • dontthrowbtc
    3 months ago dontthrowbtc

    To be honest the other alt-coins are cheating in one way or the other. For some reason, bitcoin is the perfect balance of scale, privacy and fungibility. However, bitcoin can be made even greater with for example SegWit and Shnorr.

  • Aeirs1
    3 months ago Aeirs1

    I think ethereum is coming for the top spot.

  • uazaa
    3 months ago uazaa

    Donald Trump is the president of the US — anything can happen!

  • Bitdrunk
    3 months ago Bitdrunk

    Bitcoin doesn’t care about your fee. Fucking kids. Please move to shitcoins.

  • Darius510
    3 months ago Darius510

    If you posted that on a phone, I bet it wasn’t a windows phone. Or a blackberry, Nokia or palm pilot for that matter. Either way, I’m sure it doesn’t have an Intel processor.

    If you used a PC, maybe you’ve got an Intel processor, but I bet the PC wasn’t made by IBM. Or compaq, the first company to make IBM clones.

    I bet your primary email doesn’t end in @aol.com and you don’t use yahoo or altavista as your search engine. You’re definitely not playing video games on your next gen Atari or Colecovision. Or even Sega or Nintendo.

    I can go on and on. First mover gets an advantage, but they can and will be surpassed and forgotten if they don’t deliver. Especially before it’s entrenched in the mainstream, and bitcoin certainly is not.

  • GeneralSchittlord
    3 months ago GeneralSchittlord

    doubtful, but not impossible. before zcash announced XCAT with bitcoin; would’ve said zcash has a chance (why would anybody utilize an unencrypted block chain when they don’t need to anymore).. but, with XCAT, ZEC–BTC block chains will have interoperability; almost making zcash a side chain.. that being the case; don’t see any real competition coming down the pike!

  • djdadi
    3 months ago djdadi

    from $15 to $165 in a few months. Madness.

  • Aeirs1
    3 months ago Aeirs1

    Lol. He is a good president.

  • Aeirs1
    3 months ago Aeirs1

    Ethereum is better.

  • noeeel
    3 months ago noeeel

    It takes time to fix this.

  • uazaa
    3 months ago uazaa

    It’s not about him being good or bad, but about the unlikeliness of the situation.

  • VRdad
    3 months ago VRdad

    It is possible. Many banks are running in-house Ethereum blockchains. They won’t touch Bitcoin with a ten-foot pole. I can’t predict the future but I am betting on Ethereum for now.

  • bitcoin1989
    3 months ago bitcoin1989

    ETH hasn’t had one major crash since it got pumped, very strange.

  • Aeirs1
    3 months ago Aeirs1

    Ethereum classic is a joke.

    Ethereum is Facebook, bitcoin is MySpace.

  • Badmemoir
    3 months ago Badmemoir

    Rage harder and ignore problems to deflect.

  • Aeirs1
    3 months ago Aeirs1

    Seth Rich leaked the dnc emails to Wikileaks

  • Badmemoir
    3 months ago Badmemoir

    It’s been that way for a while. It’s shitty. I’m missing out when exchanging fiat.

    I’m going to buy litecoin instead and convert it now. Long hours for a next gen currency is ridiculous.

  • Badmemoir
    3 months ago Badmemoir

    Yeah I bought a lot of Ethereum yesterday.
    Made $200

  • braid_guy
    3 months ago braid_guy

    No, they aren’t.

  • Badmemoir
    3 months ago Badmemoir

    But the iPhone was “the first smartphone”. All those things you mentioned are not “good enough” to stay. Bitcoin is. I still use a 3.5mm jack, windows 7, my original silverware I’ve had all my life, and a 12 year old bed. I could get better stuff but I don’t because it’s good enough, like bitcoin is.

  • binarymaple
    3 months ago binarymaple

    Yes, we can trust Ethereum to write code that gets hacked and then does a hardfork to restore the funds. This is what happened. Your post history indicates that you are new to this. It was before your time. It’s going to happen again. Ethereum Classic is in fact the original chain. I wouldn’t trust any significant amount of money on that thing. You want smart contracts and potentially buggy code, all the best to you.

  • Aeirs1
    3 months ago Aeirs1

    They hard forked to get back a fuckton of money that was stolen in a hack.
    I don’t really care what you think, it’s obvious your bias is for bitcoin.

  • newweeknewacct
    3 months ago newweeknewacct

    Who cares what private chain they run when it’s not relevant to the ether token. None of the companies or anyone rational would trust public ethereum chain with even a penny since it’s completely confirmed centralized and unsecure , which is why every big company in EEA only uses private chains. Hell, banks even said before public eth is unsecure.

    Banks do work with bitcoin to help customers already. So do merchants.

    I welcome talk about cryptocurrencies and blockchains, but not fake vaporware like ethereum known best for being the chain of liars and thieves and used mostly for fraud. Ethereum belongs in same context with onecoin, not next to projects with actual tech behind it.

    Come back when your vaporware coin is back in top 3 crypto in actual use after you got flippened out of top 3.

  • _Mr_E
    3 months ago _Mr_E

    When has anything ever been able to sustain a rise like that without a bear market?

  • Aeirs1
    3 months ago Aeirs1

    I agree. Yet still it was stolen, not just simply lost.
    I don’t see the usefulness of a technology that cannot improve its self. I mean the creator is young, though I believe he is a genius.

    Bitcoin will always have its place. Hell, Tom from MySpace still has lots of friends.

  • Darius510
    3 months ago Darius510

    So were all of those things I mentioned…until they weren’t good enough anymore. They failed to progress and got left behind.

    Note that all of those things I mentioned still exist in some form. But they’re marginal instead of the dominant player they used to be. I have no doubt that bitcoin will be around and remain useful in some capacity in 20-50 years. But name recognition is only going to get it so far. This is nascent tech, bitcoin is not so firmly entrenched into society that it can’t be marginalized, because crypto in general is still little more than a curiosity right now. It’s not the iPhone, it’s not even a Nokia 5590. It’s not even one of those enormous motorola phones from the 80s. At the rate bitcoin is falling behind it’ll be looked back upon as little more than a proof of concept.

  • Frogolocalypse
    3 months ago Frogolocalypse

    something something buggy code something something.

    No thanks.

  • adidasimwearing
    3 months ago adidasimwearing

    Ripple?? You’ve got some reading to do. Maybe if you had said NEM there could be a discussion.

    Ethereum is to Ripple as birthday cake is to something your dog laid fresh on the neighbors lawn this morning.

  • djdadi
    3 months ago djdadi

    I don’t know, but we don’t have many relevant markets in history to compare it to, do we?

  • Aeirs1
    3 months ago Aeirs1

    Tell that to Microsoft and the list of other companies partnering up with ethereum.
    Really we’ll do fine without you 🙂

  • Frogolocalypse
    3 months ago Frogolocalypse

    If i wanted bank shares, I’d buy bank shares.

  • MeatsackMescalero
    3 months ago MeatsackMescalero

    Bitcoin is being dethroned as we speak and Ripple has nothing to do with it longer term.

  • glibbertarian
    3 months ago glibbertarian

    When code is law, and it executes the way it is written, nothing is “stolen”.

  • glibbertarian
    3 months ago glibbertarian

    Some people understand that many of these companies will be using private versions of Ethereum, not the same token your pumping.

  • glibbertarian
    3 months ago glibbertarian

    You touched upon a pretty huge use-case in there…

  • glibbertarian
    3 months ago glibbertarian

    I agree network effect doesn’t matter as much in this space. It’s not like you have to learn anything new to use other coins, and all wallets, exchanges, merchants, processors, and more can easily interoperate and have the same user experience.

  • glibbertarian
    3 months ago glibbertarian

    Bill Clinton is a rapist.

  • Aeirs1
    3 months ago Aeirs1

    Infowars.com

  • mokahless
    3 months ago mokahless

    Your link titles were very interesting and I really wanted to read them. But they don’t match the contents linked.

    it’s completely confirmed centralized and unsecure ,

    I was especially interested in the “centralized and unsecure” link but it was just to a whole subreddit. Could you be more specific so I don’t have to sift through shit to find the well-written articles with proper research?

    Hell, banks even said before public eth is unsecure.

    The term “unsecure” does not appear in that article. Nor does “secur*”

    I welcome talk about cryptocurrencies and blockchains, but not fake vaporware like ethereum known best for being the chain of liars and thieves and used mostly for fraud.

    Here’s where I start to lose interest and suspect you might be a troll, which would be unfortunate because I do want to read information proving or disproving what you’ve claimed. I guess I’ll find out if you are or not from your response, which may or may not lead to good discussion. Why do I lose interest? Because I read the same shit online about Bitcoin for years (your words, not the links) especially related to the Silk Road. So hearing it here for Ethereum makes me wonder if it even matters.

    I am well aware of what happened with DAO and was extremely disappointed with what the decision to do the hard fork. But that’s over now. And the money is still in Ethereum. Maybe it will come back to bite them but really, it’s been a year. If Ethereum were to die or be ignored, it would have happened by now. And your second link is back to the ethereumfraud subreddit. I again ask you to be more specific because I have browsed that subreddit before and most posts seemed rather toxic and unsubstantiated and/or poorly researched (not meaning misinformation, more meaning lack of information).

  • mokahless
    3 months ago mokahless

    Many banks are running in-house Ethereum blockchains [CitationNeeded]

    FTFY

    In all seriousness, though, I am interested in reading sources.

  • TXTCLA55
    3 months ago TXTCLA55

    Google is your friend. Yes they are.

  • TXTCLA55
    3 months ago TXTCLA55

    Same thing for Bitcoin recently… Just sayin’

  • djdadi
    3 months ago djdadi

    I think you’d be hard pressed to find a market that’s followed bitcoins trajectory. There are definitely similarities with gold, stocks, etc., but also plenty of differences.

  • _Mr_E
    3 months ago _Mr_E

    Just about any market ever, including Bitcoin. Not to mention the lack of any real world usage puts it in massive bubble territory.

  • TXTCLA55
    3 months ago TXTCLA55

    Oh right of course not. It’s just growth based on added users and slow development. How silly of me.

  • bitcoin1989
    3 months ago bitcoin1989

    Bitcoin isn’t pumped…ETH is firmly in bubble territory. If Bitcoin crashes its back to 1000-1500. If eth crashes its back to 13USD. ETH spent a year at like 10USD and a couple months above it. How you ETH guys don’t see this is mind blowing for me, as a professional trader.

  • bitcoin1989
    3 months ago bitcoin1989

    I have this great idea….troll someone else. They might take you seriously.

  • Doofus
    3 months ago Doofus

    A 6-year old bitcoin investor shared his stories about investing in altcoins. And after constant failure, he insists that no altcoin will surpass bitcoin, at least not in this life. As a friend of Vitalik, he says eth is a great project, but the eth foundation would be the root of corruption. http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

  • Nikandro
    3 months ago Nikandro

    as a professional trader.

    Who just makes up numbers at random. Next your going to start telling me how TA can predict the price.

  • European Central Bank
    3 months ago European Central Bank

    it can and it will. ever notice how the world’s real money is totally rigged and corrupt? everyone allows that. they’ll allow this too if they can make some profit out of it. i admire the principles that many bitcoiners uphold. they’ll be drowned in a tsunami of greed.

  • evok3d
    3 months ago evok3d

    Quote from: Doofus on Today at 10:02:55 AM
    A 6-year old bitcoin investor shared his stories about investing in altcoins. And after constant failure, he insists that no altcoin will surpass bitcoin, at least not in this life. As a friend of Vitalik, he says eth is a great project, but the eth foundation would be the root of corruption. http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

    I would have to fully Agree. If it is about immutability then ETH failed at that, ETC is still following the core principles. You have to wait until Bitcoin resolves its block issue as well as when Rootstock comes to BTC allowing it to use smart contracts. Then we can really see

  • TXTCLA55
    3 months ago TXTCLA55

    Aw come on, tell me more about how this is good for bitcoin. I want to invest but it’s hard if you’re going to be so mean about it.

  • Xester
    3 months ago Xester

    Quote from: Doofus on Today at 10:02:55 AM
    A 6-year old bitcoin investor shared his stories about investing in altcoins. And after constant failure, he insists that no altcoin will surpass bitcoin, at least not in this life. As a friend of Vitalik, he says eth is a great project, but the eth foundation would be the root of corruption. http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

    This is a fact and we cannot deny it that bitcoin will still be the king of cryptocurrency and no other alternative coin will replace it. Even how strong and altcoin is but it will still drop in value when the price of btc goes up again. You can see the trend that everytime the price of bitcoin increases the owners of altcoins and shitcoins are selling their coins in exchange for bitcoins.

  • binarymaple
    3 months ago binarymaple

    stolen in a hack

    Stolen because a bug in the ethereum protocol was exploited. Not simply a hack of some exchange. That is significant.

  • ChicoBitcoinJoe
    3 months ago ChicoBitcoinJoe

    Someone once said ICOs are Ethereums killer dapp and I think they are right.

    A few successful ICOs can erase a month long bear market. People see a stable price. Buy more ether to invest in the next big ICO.

  • binarymaple
    3 months ago binarymaple

    Ethereum or Ethereum Classic? What happened to the DAO again?

    Something something JP Morgan private chain.

    Buy bitcoins.

  • bitcoin1989
    3 months ago bitcoin1989

    You ETH fanatics are awfully sensitive. As I said, troll, try someone else.

  • khufuking
    3 months ago khufuking

    this question keep get asked in a different way every day . altcoin overcome btc? does btc will die ? eth is the new btc ? ltc will replace btc ? every day the question is different but with same concept .BTC value is not because BTC is best coin out there . BTC gain its value because it is BTC ( the beginning of all this)  so no no altcoin can ever gonna replace BTC no matter how good it is . even if an alt bypass BTC price that does not mean it took BTC place . we have a lot of currencies that worth a lot more than dollar but dollar still number one currency in the world .

  • bitcoin1989
    3 months ago bitcoin1989

    TA can predict the price. I’ve done it publicly on this account 3 times and was right each time. I’ve then had people messaging asking how it is possible I have been right every-time. Below are the times I found plus one of the messages:-

    https://www.reddit.com/r/Bitcoin/comments/5kx80h/final_swing_to_1000usd_impending_based_on/

    https://www.reddit.com/r/Bitcoin/comments/5mje6g/i_predict_we_will_reach_871usd_within_4hrs/

    http://imgur.com/a/rMHHH

    So….yeh, as I said I do this for a living.

  • imguralbumbot
    3 months ago imguralbumbot

    Hi, I’m a bot for linking direct images of albums with only 1 image

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  • TXTCLA55
    3 months ago TXTCLA55

    Fanatic? Please. I just wanted some info. Shame you have to so mean about it.

  • JeffBrad12
    3 months ago JeffBrad12

    Quote from: 7788bitcoin on Today at 10:08:08 AM
    Meanwhile, ETH price is also skyrocketing (for unknown reason?). For those who are aware of the DAO incidence, the HF that reversed the stolen ETH really casts a shadow over the immutability of Ethereum blockchain…
    Unknown reason? I think you must read about the latest news of ethereum, A lot of the very bullish news comes to ethereum itself. So, Do you think if the DAO was a big fault by the ethereum foundation? The worst dev just made a buggy code and someone is being able to infiltrate on his backdoor and steal a lot of amounts. A lot of reason are supporting ethereum right now. EEA is a big reason for a latest pump of ethereum.

  • bitcoin1989
    3 months ago bitcoin1989

    Shame you have to so mean about it.

    As I said, too sensitive.

  • TulipTrading
    3 months ago TulipTrading

    Haha. It’s like buttcoin spitting on bitcoin since it was $10.

  • 7788bitcoin
    3 months ago 7788bitcoin

    Meanwhile, ETH price is also skyrocketing (for unknown reason?). For those who are aware of the DAO incidence, the HF that reversed the stolen ETH really casts a shadow over the immutability of Ethereum blockchain…

  • XbladeX
    3 months ago XbladeX

    Quote from: 7788bitcoin on Today at 10:08:08 AM
    Meanwhile, ETH price is also skyrocketing (for unknown reason?). For those who are aware of the DAO incidence, the HF that reversed the stolen ETH really casts a shadow over the immutability of Ethereum blockchain…

    EEA add +70 companies that is the news mate. I have 0.1% ETH vs 99,9% BTC still.ach they will have lighting network soon wth 100 000tx/s that is maybe reason too.Where is BTC all we know with scalling.

  • mammon
    3 months ago mammon

    I think for all you guys; Your dogma blinds you

  • _Mr_E
    3 months ago _Mr_E

    Wasn’t at all my point.

  • Kemarit
    3 months ago Kemarit

    Quote from: Xester on Today at 01:05:01 PM

    Quote from: Doofus on Today at 10:02:55 AM
    A 6-year old bitcoin investor shared his stories about investing in altcoins. And after constant failure, he insists that no altcoin will surpass bitcoin, at least not in this life. As a friend of Vitalik, he says eth is a great project, but the eth foundation would be the root of corruption. http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

    This is a fact and we cannot deny it that bitcoin will still be the king of cryptocurrency and no other alternative coin will replace it. Even how strong and altcoin is but it will still drop in value when the price of btc goes up again. You can see the trend that everytime the price of bitcoin increases the owners of altcoins and shitcoins are selling their coins in exchange for bitcoins.

    Exactly, the article already explain it in simple terms. No matter what market cap those alt-coins will reach, Bitcoin will still the no. 1 crypto. Specially today we see that bitcoin price is going strong and there is a panic buying. And alt-coin price is somewhat correlated to the price of bitcoin as well. Although I’m thinking that some investors goes to altcoins because of the high transaction fees on bitcoin right now. If this is solved, more investors will go all in with bitcoin ecosystem.

  • djdadi
    3 months ago djdadi

    What was your point then?

    In re: to the edited part you added,

    Not to mention the lack of any real

    There are plenty of real world uses, I just bought a few things with XBT last week. They certainly aren’t common yet, but they work fine and quite a few people use it.

  • bitcoinsay
    3 months ago bitcoinsay

    Ethereum Crypto coin after BTC is the king of the market . Nearly all newly released coin is coming up over the ETH.

  • hl5460
    3 months ago hl5460

    Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

  • 25hashcoin
    3 months ago 25hashcoin

    ETH holders should take profits and exit to BTC and/or ETC while they still can.

  • soul-impact
    3 months ago soul-impact

    Quote from: hl5460 on May 23, 2017, 01:42:15 AM
    Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

    Although the ethereum is growing extremely strongly, however, it still has not enough power to compare with bitcoin. In recent times, ETH has grown remarkably and made people more trustworthy about it, I’m sure there are not any coins that are powerful enough to determine bitcoin. It’s too early to say that.

  • Paashaas
    3 months ago Paashaas

    ETH will be in trouble when Rootstock arrives. RSK offers a better smart contract solution than ETH.

  • findingthemoon
    3 months ago findingthemoon

    Bitcoin doesn’t fundamentally have anything that can’t be found in an altcoin, the only thing going for it is that it has first mover advantage and currently a high hashpower in relation to anything else out there. But there are plenty of decentralized heavy altcoins, and even bitcoins development is heavily centralized in the hands of few players be that core developer or certain mining companies so I don’t think its fair to say bitcoin is better even in that regard to certain alts. So what it comes down to I guess is the only thing its got going for it is hashpower, but hashpower can be changed at relatively short notice.I agree however that bitcoin is not going to be dethroned soon, but it can obviously change in the future. And why don’t think it will happen soon? Because compared to other alts bitcoin is used much more in the real world, the altcoins even ethereum is currently only used by traders, ICO’s and a few other limited projects.

  • Nikandro
    3 months ago Nikandro

    You can debate this forever. Correct 3 times does not equal “right every time”. Darts thrown at a board could be correct hundreds of times. If TA worked, the turnover for day traders wouldn’t be around 95%, and hedge funds would use it instead of quote stuffing, market making, and HFT.

  • CONTROLurKEYS
    3 months ago CONTROLurKEYS

    It’s a new paradigm!

  • CONTROLurKEYS
    3 months ago CONTROLurKEYS

    How are you into bitcoin and still think intrinsic value is anything but a weasel phrase

  • jekjekman
    3 months ago jekjekman

    Quote from: hl5460 on May 23, 2017, 01:42:15 AM
    Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

    ETH is like playing around 8-10% of Bitcoin’s value as of now, and bitcoin will never be dethrone by ETH or any other altcoin because in my own opinion BTC is the medium or primary trading factor to convert it back to FIAT of any other altcoins, and most of the characteristics of new alts is being overpass by the devs of BTC.

  • mmortal03
    3 months ago mmortal03

    This seems legit: https://ponzico.win/

  • Nikandro
    3 months ago Nikandro

    It’s great that you have had good fortune. Despite that, however, TA is still a retrograde system to identify and measure past trends. Warren Buffet didn’t get rich by day trading.

  • bitcoin1989
    3 months ago bitcoin1989

    I’m not right every-time. I’m right about 70% of the time which means if I only enter a trade with a risk reward ratio of 1:2 with 2% of my account balance risked each time, then every 10 trades I make +22% of my account balance as an average.

    Even if you’re only right 60% of the time you still make 16% profit every 10 trades with the above model as an average.

  • NotMyMcChicken
    3 months ago NotMyMcChicken

    You do realize that any alt that had the mass adoption that Bitcoin has seen would have these same scaling issues currently, right? This is apart of the growth of the technology. Enjoy the ride.

    Additionally, a 4 dollar fee is still a bargain as opposed to traditional banking methods.

  • bitcoin1989
    3 months ago bitcoin1989

    To be honest TA isn’t meant to be used to predict anything anyway, I only did it on reddit for a laugh.

    TA simply allows you to find areas on a chart where there is a lot of market indecision, in these areas you have a lot of amateur traders confused about the price direction. Many think it will go up, many think down. They are all in position and hoping and praying price goes their way.

    What we do is find these areas, then when the market decides the “correct” direction we trade the breakout which not only includes new people jumping in on the breakout direction….but also the poor guys jumping out of their losing trade, when they close their position it pushes price in the other direction (if they bought, they sell to get out).

    So, there you can see extremely basic logic on how it is possible to trade professionally. TA is just a part of it, but a critical part.

  • ChicoBitcoinJoe
    3 months ago ChicoBitcoinJoe

    Wasn’t that an ‘art piece’?

    I know many just think every ICO is a scam and that is fine. But the truth is that some will succeed and some won’t. The difference is that anyone can participate now. Not just Wallstreet.

  • Badmemoir
    3 months ago Badmemoir

    Crypto it’s slow. But banking is even slower. I’d choose another crypto though.

    $4 isn’t a bargain for me… if it was a bargain you wouldn’t need to call it a bargain.

  • Badmemoir
    3 months ago Badmemoir

    Yeah I sent $25. $1 fee. Ridiculous. And slow. No way it’s gonna get adopted at that rate.

  • _Mr_E
    3 months ago _Mr_E

    I was talking about ether…

  • gemeinsam
    3 months ago gemeinsam

    This girl has no clue

  • shitpersonality
    3 months ago shitpersonality

    If you ignore the problems, they go away. Simple fundamentals. Buy low, sell lower.

  • shitpersonality
    3 months ago shitpersonality

    https://en.m.wikipedia.org/wiki/Palm_Treo

  • shitpersonality
    3 months ago shitpersonality

    Bill Clinton, Bill Cosby, Bill Burr. One of these Bills is not like the others.

  • mmortal03
    3 months ago mmortal03

    Ethereum’s efficiency must be to bring ponzi ICO schemes to the masses, like Bitcoin’s efficiency is to bring hard drugs to the masses.

  • Mordan
    3 months ago Mordan

    what about exchange fees ? and fees to send Bitcoin to and from the exchange?

    As soon as an ALT scaling issue kicks in… it will be expensive or centralized with huge blocks.

  • glibbertarian
    3 months ago glibbertarian

    To be fair Cosby probably only raped like half of those women.

  • Badmemoir
    3 months ago Badmemoir

    They’re cheaper. And until then it’s still cheaper.

  • bearex
    3 months ago bearex

    I think it will. The reason being, that Bitcoin is lagging a lot lately, it is almost unusable. That is why many people, including myself, switched to Etherium, when you need to withdraw funds from an exchange or pay for something. I used to have Bitcoin for that, but now the fees are insane, and confirmation times also (unless you pay the highway robbery fee).That is why i think it will surpass Bitcoin. It offers everything and more. Others will surpass Bitcoin too.

  • hl5460
    3 months ago hl5460

    Quote from: jekjekman on May 23, 2017, 02:35:23 AM

    Quote from: hl5460 on May 23, 2017, 01:42:15 AM
    Vitalik is a genius. He is a quick learner and he is able to speak and write Chinese fluently. I see big future in him and I believe he will change the world just like BCNext and Satoshi. But now I advise investors to short Ethereum. Why is that? It’s all about the foundation. I think it is corruption that they would hard fork a chain to save a fraction of their investment. That’s really, really wrong. And The Dao is just a beginning. Anyway, I advocate that a decentralized decision-making mechanism is much important than any technological innovation.The world of cryptocurrency is filled with wrong investment concepts and bad intentions. A great part of people got misled by many so-called experts when they began to invest in cryptocurrencies. If you take the investment seriously, then spend more time learning and most importantly, have your own judgement.http://news.8btc.com/will-bitcoin-be-dethroned-by-an-altcoin-not-in-this-life

    ETH is like playing around 8-10% of Bitcoin’s value as of now, and bitcoin will never be dethrone by ETH or any other altcoin because in my own opinion BTC is the medium or primary trading factor to convert it back to FIAT of any other altcoins, and most of the characteristics of new alts is being overpass by the devs of BTC.

    You are right, BTC is still the most popularly adopted coin but ETH is taking 21% of total market cap.

  • Sadlife
    3 months ago Sadlife

    ETH is only good for for short term investment ETH holders should gain profit and move into a much better long term crypto currency especially when bitcoins scaling problem will soon be fixed. Bitcoin is the most adopted payment method by merchants, countries, good and services, local businesses, bitcoin will never be replaced by centralized currency that is created by bankers

  • pooya87
    3 months ago pooya87

    everyone is caught up into the hype of the altcoins these days, the price has blinded them all. the fact that an altcoin can simply rise up nearly 800% in 2 months should be as a warning to any investor to move carefully because no matter what that altcoin is, that huge price rise is a bubble and can not be controlled forever. it will pop at some point.

  • MMysterious
    3 months ago MMysterious

    Quote from: pooya87 on May 23, 2017, 07:37:18 AM
    everyone is caught up into the hype of the altcoins these days, the price has blinded them all. the fact that an altcoin can simply rise up nearly 800% in 2 months should be as a warning to any investor to move carefully because no matter what that altcoin is, that huge price rise is a bubble and can not be controlled forever. it will pop at some point.

    True, everyone is caught up with altcoin hype these days because of the price but I know a lot of people who’s investing altcoins because in the end they would still convert their profits from whichever coins they have to btc. So that really means Bitcoins can’t be dethroned by an Altcoin. It won’t happen I’m sure of that.

  • Badmemoir
    3 months ago Badmemoir

    http://i.imgur.com/U2tA7qt.png

  • PatrickOBTC
    3 months ago PatrickOBTC

    The scope of Ripple is extremely limited while the scope of Ethereum is unlimited.

    “The outcome of such a lopsided race is to obvious as to require elaboration” -Paul Harvey

    Good day!

  • newweeknewacct
    3 months ago newweeknewacct

    security has to do with not having to trust some minority and reliability. when banks can’t trust their transactions will be honored on a blockchain because a central party has the ability and willingness to change blockchain for self interest, it’s not secure. that’s pretty much the topic of concern.

    Subreddit was just meant as list of sources. But I realized maybe there are too many sources and I should write a summary on which I am working on in pinned message here. https://www.reddit.com/r/ethereumfraud/comments/6bgvqv/faq_what_exactly_is_the_fraud_in_ethereum/

    I used to write those out as comments but got tired of them getting deleted so I made a subreddit.

    I have limited time so I only work on it when I see something dumb about ethereum and motivation strikes again. 😀

    You have a fair criticism, everything has been called falled fraud and vaporware. I usually also lose interest when people say it without showing any sources suggesting so. I am trying to be very careful not to suggest alternative currencies, especially by name to keep focus only on Eth, as I would dismiss that right away as shilling.

    I am doing this for fun and anger, and yeah, annoying ethereum supporters is part of the fun and making me feel better. Sorry if it’s not ideal. This is only a hobby.

  • newweeknewacct
    3 months ago newweeknewacct

    Buttcoin occasionally has great counter arguments, and a lot of people there actually have bitcoin. There’s some benefits to discussions outside a forum built specifically for a single coin with biased voting/rules. Criticism of security, fraud has little to do with price. But hey, different people different opinions of what they think is important.

  • L00n3y
    3 months ago L00n3y

    Quote from: MMysterious on May 23, 2017, 08:46:18 AM

    Quote from: pooya87 on May 23, 2017, 07:37:18 AM
    everyone is caught up into the hype of the altcoins these days, the price has blinded them all. the fact that an altcoin can simply rise up nearly 800% in 2 months should be as a warning to any investor to move carefully because no matter what that altcoin is, that huge price rise is a bubble and can not be controlled forever. it will pop at some point.

    True, everyone is caught up with altcoin hype these days because of the price but I know a lot of people who’s investing altcoins because in the end they would still convert their profits from whichever coins they have to btc. So that really means Bitcoins can’t be dethroned by an Altcoin. It won’t happen I’m sure of that.

    Yup. Some are just going on with the flow because it is better to be early in something take the risk in altcoins because it might be surpassed Bitcoin. Some are earning in altcoins and investments that’s why they go to altcoins but when they get their earnings they will convert it to btc also. Bitcoin will be hard to overthrow by altcoins but still the possibility is there. I’m more into BTC, but I’m more into countermeasures. I can’t just le all my wealth online into one Cryptocurrency. BTC will be at the top I’m sure of that too but I’m not ignoring also the alternatives.

  • mokahless
    3 months ago mokahless

    Great response. Although sources aren’t given, I believe most of it and remember the rest from when it happened.

    Thing is, unless something happens again, it really doesn’t matter. Not saying that’s a good thing but seeing as how ETH recovered so well, it certainly seems to be the case.

    Purely from an investment standpoint, my opinion doesn’t matter. The opinion of everyone else matters. The most important thing to take away is the knowledge that there is some additional risk in investing in ETH as per historically observable.

  • Remainder
    3 months ago Remainder

    I think bitcoin can be dethroned by altcoin in future but it depends on how this altcoin play in the market.

  • d5000
    3 months ago d5000

    Quote from: findingthemoon on May 23, 2017, 02:00:46 AM
    Bitcoin doesn’t fundamentally have anything that can’t be found in an altcoin, the only thing going for it is that it has first mover advantage and currently a high hashpower in relation to anything else out there.

    No. The main advantage Bitcoin has is its ecosystem. It is the most used cryptocurrency, there are real values behind it. Hashrate is easy to achieve, a ecosystem of businesses, organizations and good developers is not.Regarding use, Ethereum has about 40% of Bitcoin’s transaction volume, but I’m sure that’s because there are plenty of automated transactions executed by smart contracts/dapps. All other altcoins are insignificant as of now. See here how “much” the top 10 cryptos are used as of now.

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