💰 Why My Bets Are Still On Ethereum
While Ethereum has had its own share of battles so has bitcoin and many other cryptos however my bets are still on Ethereum to eventually take over as the dominate coin.
The future of Ethereum seems amazing when you look at all it currently does and offers compared to bitcoin.
It offers a lower price per transaction and will further be reducing these prices. Ethereum also boosts contracts something bitcoin still does not offer. Bitcoin has adopted Segwit but slowly and we are still waiting on the lightning network. However Lightning seems to be spreading to far more then just bitcoin when it is to be adopted.
Bitcoin also has a huge issue in terms of core developers and miners. It seems very fractured while ethereum has a center head to the crypto currency and a solid team of developers that continue to improve the blockchain and give it more features.
When this "flippening" does happen we should see major funds falling out of bitcoin and dive into Ethereum. However this senario still steems like it might not happen till end of this year or next year at current adoption rates and changes.
The Ethereum network is much more flexible than that of its ancestor Bitcoin.
The potential of its blockchain has sparked a certain enthusiasm around the world
We must also take into account the fact that various governments are beginning to take an interest in it.
Yes but will governments act fast? They will be dinosaurs compared to a room full of inspired geeks. Governments lack passion. Who want to adopt a government blockchain? No fun in that!
Not to say that the "flippening" couldn't happen, but I think 3 issues would hold it back ("B" is exclusive the ETH though):
A) Scaling Issues.
The second people start using it for more "regular" transactions it'll run into the same scaling issues as Bitcoin has.
B) Smart Contract "Pollution"
Every smart contract is stored in the Blockchain. As the number of them grow the ETH blockchain will get huge, and way to big for most hobbyists to run a node.
C) Adoption
There is a growing number of places accepting Bitcoin, and I heard that about 30% of Bitcoin transactions are purchase related (the other 70% being speculation). You really can't say that about any other crypto though, so it'd be hard to get that going.
Saw a video on YouTube that was talking about EOS buying up millions of Ethereum coins. That they may sell into EOS at the same time to crash the Ethereum price. Not sure about the accuracy of the information but it does sound worrying for Ethereum holders. EOS looks extremely sharp.
I don't think this tactic ever works unless your prepared to lose some serious money have investing billions into buying ethereum coins lol
Look into it ;) Here is the article.
so thats only 5%-10% at of the market and slowly declining every block. Why would they buy a shit ton of coins only to try and attempt to crash the price if they sold everything in one shot thats only $80 decline we see that on the daily lol
Because they are a competitor? If they would move that much. 5 million coins is 4 billion dollars and that is tripple the daily traffic. That will cause big changes very clearly. More like 3x80=$240-480 difference potentially. 5-10% is not a small amount. And now I haven't even added in the sheep effect that they may cause so move to even $100-200 per Ethereum coin. Plus they are slower in speed compared to EOS goal. Currently we are using a platform that Dan helped create so clearly he is a genius so I wouldn't underestimate his future projects!
I like ETH, I think its a good bet longterm. IT's not likely to disappear, but they just gotta keep working cause the competition will only get more fierce.
One of the few things that bitcoin currently has over ethereum is their first-mover advantage. Most people don't talk about 'crypto' but talk about 'bitcoins.' Other than that, I feel like most people would argue that Ethereum is already the king of crypto if you see the sheer volume of ethereum compared to bitcoin. Maybe the lightning network will give some new hope for bitcoin, but Ethereum will probably become the new #1 in the next couple of months.
But doesn't Ethereum seem extremely slow compared to STEEM? Ethereum is already overloaded with daily transactions and has many unconfirmed. How will it then be in the future? Sure many Tokens look interesting but think faster ones will take over instead. Bitcoin also too slow in transfer... Most people don't even talk about crypto at all. The geeks on the other hand.
This is very true. The next move up for the market will come from 'new money' - most of which I would suggest have only really heard of bitcoin. I think Bitcoin will be the first taste for many new investors. I still see good things for ethereum however.
I'm also bullish on Ethereum but I definitely agree that it will take more than a year for it to dethrone Bitcoin.
Until EOS comes and eats up Ethereum...
The real question is, what about Tron? What happens after the flippening? Will there be another from Ethereum to Tron?
I trust in Ethereum.
I mean look at all the different ERC20 Tokens built on ethereum... It will be the Number one! Definitly.
Wonderful post, thanks for contributing your knowledge to the Steemit community. From this moment I follow you! Many successes.
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