Quote from: Abiky on Today at 01:59:07 AM

Quote from: adzino on September 21, 2024, 03:35:36 AM

Naah, I don't really see Ethereum taking over Bitcoins position any time soon in the future. Bitcoin has that fixed supply of 21 million coins and with so many getting lost over time it is going to get even more scarce in the future which will in return end up driving the price up. People hold onto Bitcoin like gold due to its store of value. Ethereum on other hand is just something different. It has different use cases. It was never intended to be used as a store of value. It's supply isn't capped like Bitcoin's. Like everyone else mentioned, Ethereum will only takeover bitcoin if everyone decides to dump bitcoin and invest in Ethereum. But that will never be happen. In fact, people think that Ethereum is very centralized. But on other hand, Bitcoin has existed long enough in the market and is completely decentralized which has helped to gain the trust of all big investors.

Scarcity doesn't determine market cap, but rather demand. So if demand is high and supply is low, market prices will go to the moon. That translates into a higher market cap over the long term. Just multiply the number of coins in circulation by the current market price, and you'll see what I mean. I concur with you that ETH will never overtake BTC in market cap. Not now, nor in another century. I'd compare ETH with "Oil" and BTC with "Gold". Both completely different things.

I believe BTC and ETH will continue to grow in the future as their popularity increases. What matters is decentralization above all else. If ETH manages to curtail centralization efforts, it will last a lifetime. Otherwise, not. The crypto market often behaves in many strange and bizarre ways, so we should expect the unexpected. Wink

The comparison with oil and gold is a wonderful epitome for these two coins, did you come up with it yourself? I would put it in a frame if I could.
And, I agree - ETH has some problems to work around, otherwise, other big coins can take their place in the long run.