Ethereum's Market Cap Is Currently More Than 50% of Bitcoin's
Even though it's about 5 years late into the game, it seems that Ethereum has been experiencing a meteoric rise and has formidably tailed Bitcoin's rate of growth in record time. Today, it sits at $19.5 billion, a little more than half of Bitcoin's $37.2 billion at time of writing, at about the same trading volume.
I don't know about you, but I'm holding onto whatever Ethers that I have. In my mind, it has always had way more utility and works well for quick transfers. Many developers seem to be building and experimenting on Ethereum too and that's something to be reckoned with.
There was also a survey conducted by Kraken back in 2016 when it polled answers from participants in various universities and business schools. If each of them were given $1 million to invest, the average results showed that 45% will be in Ethereum and 55% will be in Bitcoin for the long-term. Crypto Portfolio on Youtube did a breakdown of this study:-
Personally, I hold more Ethers than Bitcoin. However, I've stopped buying Ethers ever since getting onto the STEEM platform and understanding some of Ethereum's limitations and not-so-decentralised nature. But to be fair, The DAO fix did protect the "good people" which makes a lot of sense to me for a young ecosystem, even though it was done at the cost of its core principle. Nothing is really decentralised right from the get-go anyway. In any case, that's the reason why Ethereum Classic is still around. Speaking of that, yesterday I watched this interesting video interview between @crypt0 and @charleshosk about ETH, ETC, and to my delight, some great mentions about STEEM too.
I've always liked Ethereum's branding and positioning, so it's been a great validation for me as a speculator. Afterall, I did dump half of all my fiat for Ethers. Personally, I think the market will do something ridonkulous, and you'll probably see Ethereum matching Bitcoin's market cap by year end.
Are any scalability issues going to put a dent into these projects? Only time will tell. Still waiting for https://eos.io!
This is frighting. People are buying BTC just for building their ETH position.
Ethereum is the Buzzlightyear and poor woody the bitcoin awe :(
I guess... after all, what's the killing feature of bitcoin?
Trust.
I definitely don't trust in only trust, I need something else.
The limited 7 transactions per secod.This makes people all over the world waiting for transactions. It is a bottleneck, when the demand is high.
The interesting part to me is the volume, which is almost en par with bitcoin and over 1B. That could become a big part of the flippening. On coinbase ethusd is bigger than btcusd! Weeeee
Plenty of projects going on for Ethereum, which is why.. but it may all implode in a sea of vaporware though.. so far Steem seems to be the only one that I use frequently by a long mile, compared to any coins..
bonus ETH on Chinese exchanges
At least ETH has some utility, unlike most of the junk in the top 10-20. Overvalued and scalability issues eventually, though. Steem will take them all, soon enough. Muhahaha.
Yes.. I think my transactions on Steem is like 100,000x more than any other coins combined - it's real;ly something!
exactly
OK, so it will probably take 7-8 years for a new crypto (in this case ETH) to overtake BTC. But crypto won't stop there. My prediction is that some other crypto will overtake ETH in just 3-4 years. The beauty of exponential progress.
EOS! look out for that :)
why is EOS so nice to you
here u go :) https://steemit.com/eos/@kevinwong/eos-a-blockchain-operating-system
Glad that I held me Eth till now, making so much profits these few days! Can't seem to figure out where the top is. Might as well hodl
Haha I kinda regret selling some along the way, but to be honest I've been drifting away from Ethereum development stuff and now looking into steem and eos..
I understood that steem is unlimited in opposite to Bitcoin, what makes steem inflational, right? How can the value of it increase?
Hi @johano :). Steem inflates its supply by 9.5% in the first year, decreasing by 0.5% each year until 0.5% inflation / year, I think. In 20 years, expected to have around 660 million STEEM is circulation. Today there is about 250 million STEEM in circulation. It might've been updated though, but this is the latest i've known.
Thanks @kevinwong. This was helpful. I am quite new to all crypto. Have a nice day.
Hey thanks for replying! I'm still mostly on BTC though, slowly diversifying
Are you based in MY by any chance?
I'm around sometimes :)
I am also glad I never took profit along the way, just slowly adding to my stack of coins when I have spare money.
best approach!!
What I don't get: the total supply of eth wich will ever be made is not yet decided? Right? This seems to be a problem to me if it ever wants to pass BTC's value in the long run?
But the emission is known and can be anticipated, it's a bit like perishable software license.. :)
Thanks for the reply and insights! I keep on learning on steemit, every single day! :-)
Good of you @kevinwong to preserve these videos.
Thanks, I missed this one!
Hopefully I'll be the one interviewing people next time :D
Whatever Kev...
We gonna have to interview YOU! :D
Go on with your BAD self...lol
I'm relatively new to Ethereum as well but am following the HODL paradigm. ;-)
best to use disposable cash too :)
Agreed. The nice thing about crypto is that it more or less circumvents US regulations that prevent you from carrying more than $10k out of the country at a time.
I'm only just getting into the whole crypto scene, trying to learn fast.
Feel free to drop by steemit.chat :)
Thanks, will do.
Im also a newbie in the bussiness ;)
I'm also expecting Ethereum to pass Bitcoin market cap. Perhaps only temporarily at first, but in the long run as well, after whatever corrections happen.
yup i have a hunch that'll be the case.. Ethereum will certainly do something funky lol