Why does everyone jump on the ethereum Bandwagon? - My analysis of Bitcoin and it's flaws
Why does everyone seem to hop onto the Ethereum Bandwagon with high hopes and a pocket full of money? Well I think the answer boils down to the fact that at the moment, Bitcoin has a few major issues, our main one being scaling, which has led to other problems like outragous fees for transferring Bitcoin, and a while back there was even talk of forking the currency and making two separate versions of Bitcoin, like Ethereum and Ethereum Classic.
So why everyone flocks to Ethereum seems quite simple really, it fixes all of our current issues. The blocks are larger so there isn't scaling problems, there already was a fork so you can choose who you want to go with, and the fees are so much better. But what I think people forget is that Bitcoin is decentralized. If there are problems, all we need are smart people to fix them.
There are problems but they can be fixed, and Bitcoin is already fairly well known by the public. It looks a lot better to the public if we tell them that we fixed the problems with our central currency that if we say that there was aproblem so we all ran to another for of money. That doesn't sound good. So even though ethereum is a good investment and I want to see it do well, please don't replace Bitcoin just because it has problems.
With all humility and respect to you, paragraphs are a writer's best friend.
I know looking back on it. In fact I'm going to edit it probably to make it better.
Completely agree. Bitcoin is still the face of cryptocurrency and everyone should hope to see it improve as it will give the crypto world a better look for all the foreigners looking in from the outside. Abandoning it would speak volumes of the crypto world not being stable which we don't want.
If we abandon Bitcoin it could potentially discredit cryptocurrency as a whole, at least in the short term unless there's an obvious substitute to fill the role immediately.