There is still a risk. Overtaking bitcoin looks like a dream.
It will take years...but we are coming...
I don't think many people fully understand the complexity of this concept - "overtaking bitcoin". There are so many dimensions to it.
I've always been a "bitcoin maximalist' in the sense that I don't believe it will loose its status as the primary reserve cryptocurrency and ultimate store of value. (The one that grows slow but always grows, never shrinks in the long run).
But at the same time, I've been aware that there's no conflict between that and another crypto exceeding Bitcoin's marketcap. In fact I fully expect that to be the case - probably more than one.
In the fiat world, the credit markets dwarf the base money supply that 'backs them' by about 30:1 in some cases. With Bitcoin, if things go core's way and it consolidates its role as a store of value rather than the "Roger Ver" vision where it's dynamic and liquid in a commercial sense, then it's almost a cert that its cap will be exceeded by a so called "meta-currency" that is more customer facing and adoption friendly.
The other side of that "coin" though, is that the commercial work-horse currencies will potentially come & go. So even though Bitcoin may have its cap exceeded it could still outlast everything else.
Therefore, it isn't just a straight case of "overtaking bitcoin". There are aspects in which it can be overtaken and aspect in which it can't IMO. We should be aware of the complexity of this and the distinct roles that different cryptocurrencies are starting to adopt in the ecosystem. They may be more complimentary and less competitive than we think as the moment.
