You are viewing a single comment's thread from:
RE: The Cryptocurrency King Dethroned?
I would like to compare BTC with Gold rather than USD. And if I want to compare USD to something, it will for sure be Ethereum
I would like to compare BTC with Gold rather than USD. And if I want to compare USD to something, it will for sure be Ethereum
I understand why you say that, but my point is that currently that is not BTC's role in the global cryptocurrency market. BTC might be serving as "gold" in the eyes of investors, but in the market it is serving as the "USD" of the cryptocurrency market. USD is the #1 currency for basing all international value trades, BTC is the #1 cryptocurrency for basing all international value trades in the cryptocurrency space.
I argue that BTC's current worth and persisting dominance is completely founded by this role in the market. I invest in BTC, I have no desire to see it lose market share, but I believe over time it will. Exchanges like Binance use their own cryptocurrency as the main trading currency, which is effective, Binance coin has been performing much better than BTC. Atomic swaps or DEX advances will also lead to BTC's diminished necessity, and this will likely erode much of BTC's market share.
I have no doubt that BTC still has plenty of room to grow and profit its hodlers, but overall, I suspect its lead to shrink over time.