Although both the Balrog and Smaug are creatures of fire, and Gandalf is able to match them thanks to the power of his fire ring, defeating the Balrog takes far more spiritual prowess, which is why Gandalf is able to essentially 'level up' and comes back as Gandalf the White, whereas defeating such an immense physical ...
Gandalf, however, surpasses Smaug in magical capabilities and would easily defeat the dragon in a one-on-one battle. Despite Smaug's size and power, his arrogance and pride make him vulnerable to distractions, which Gandalf can use to his advantage in defeating him.
Gandalf absolutely could have killed Smaug in a one-on-one fight. The grey wizard fought and defeated the Balrog of Moria, and a dragon was a lesser evil than that.
Despite popular belief, the Balrog known as Durin's Bane was more powerful than Smaug in Middle-earth, being a literal, primordial demon. Gandalf's decision to fight the Balrog but not Smaug was not based on power levels, but rather on the circumstances and his mission to defeat Sauron.
The Extended Edition of The Desolation of Smaug confirms Gandalf's fear of Smaug and Sauron working together to conquer Middle-earth. This explains his vast knowledge of Sauron and the Ring, as he alludes in the theatrical version.
If he is using black arrow. The black arrow is just a normal arrow so that wouldn't have any effect. Bard only knew where to aim because he could understand the thrush that heard Bilbo talk about it. So Legolas would only be able to kill Smaug through sheer luck or he would have to see the gap in the gemstone armor.
Because Gandalf was forbidden from matching power with power. At least at first. But more importantly, even after his return as Gandalf the White, Gandalf was still not as powerful as Sauron, yea, even that Sauron, weakened as he was from the height of his power, Gandalf could not match him in strength.
Like the Balrog, Smaug was too powerful for Sauron to dominate. Sauron might have made use of him, but likely would have had to wheel-and-deal with him as an equal.
Although both the Balrog and Smaug are creatures of fire, and Gandalf is able to match them thanks to the power of his fire ring, defeating the Balrog takes far more spiritual prowess, which is why Gandalf is able to essentially 'level up' and comes back as Gandalf the White, whereas defeating such an immense physical ...
Smaug's dragon-fine would not have been hot enough to destroy the One Ring. The malevolence that Sauron put inside of the Ring could only be destroyed in the Cracks of Doom, so Frodo was compelled to make the journey to Mordor.
As previously stated, Gandalf is a Maia and is therefore superior to Elves regarding power. Still, this isn't to say that an elf couldn't develop enough skill and power to defeat a Maia. As a bearer of one of the Three Elven Rings (Nenya), Galadriel would have an edge against Maiar like Saruman and Radagast.
Does the gemstone have magical powers or curse that makes the Dwarves covet it with an almost obsessive passion? There was no indication in The Hobbit that the Arkenstone held any magical powers or any curse. It was not the Jewel itself that set Thorin into a frenzy but it was something inside of Thorin himself.
Ancalagon the Black (Sindarin: rushing jaws from anc "jaw", and alag "impetuous") was a dragon bred by Morgoth during the First Age, as told in The Silmarillion. He was one of Morgoth's most powerful servants, the mightiest of all dragons, and the first of the winged "fire-drakes".
Smaug could easily have cut through the armies of Mordor, and delayed the invasion of Middle-earth by years. So it wasn't in Sauron's interest to take on the dragon, but that doesn't mean he saw it as a lost cause, as he fully planned on creating an alliance.
Smaug is a dragon, and specifically a winged fire-drake; heat didn't trouble him in the least. Because he's a dragon. Very hot fire already burns in him. Putting molten gold would not really damage him, it's just like trying to extinguish fire with fire.
Described as a "long-worm", although this imprecise term seems to be more of an expression rather than a separate taxonomic group. Smaug — the last great dragon of Middle-earth, slain by Bard of Esgaroth.
It is later revealed that Smaug's attack on Erebor was all part of Sauron's design, meaning that Smaug and Sauron were in league with each other. Smaug was considered one of the highlights of the second film of the series; several critics hailed him as cinema's greatest dragon.
But if Smaug survived, he likely would have taken revenge on the burglar who trespassed in his lair. Without Bilbo, the Fellowship would never have formed, and without the possibility of destroying the One Ring, the kingdoms of Middle-earth would have had no clear way to defeat Sauron.
Sauron does not fear Durin's Bane because essentially they had been allies back “in the olden days". Both Balrogs (all balrogs) and Sauron chose to serve Melkor/Morgoth.
If the Balrogs are corrupted Maiar, then would Saruman eventually become one? Saruman wouldn't become a Balrog, because his nature is inherently different and he's kind of stuck in the body he's in.
Gandalf the Grey was able to defeat the Balrog (granted, at the cost of his physical form), so the end result would likely be the same for the significantly more powerful Gandalf the White.
