Fall of Bitcoin - Ethereum 's Possibility of Being The New Sucessor

In the last few months, more people heard about the Bitcoin and they ask if is it really a new currency, the currency of the future, a chance to gain millions or is it just a bubble? What they get for an answer is a lot of technical terms which makes it harder for them. It i hard to get these things easily so people should take some time to learn about it slowly.

The Bitcoin was not issued by a government, it is issued by Satoshi Nakamoto, a nickname for an unknown person(s). It can be a man, a woman, a group, a government, the Islamic State, a gang, some saints or Tom Hanks, we simply do not know. A Bitcoin promotional video stated that Bitcoin is guaranteed, not like conventional currencies that may breakdown with the collapse of governments. Should we really fear the probability of a government and state institutions collapse and the same for USA as it guarantees the dollar in the reserves, but totally trust this Satoshi Nakamoto? That is funny.

Bitcoin supporters explain how this currency is based on a no-banks system, not even a central bank. Transfers are instant and free of charge. The system is guaranteed through equations, making it almost impossible to be hacked. The technology was admired by many like Bill Gates and even between skeptics like Jack Ma (Ali Baba founder). Robert Schiller (Nobel Laureate 2013) wrote in 2014 that it can be used “as a basic standard of economic measurement.” Even Kenneth Rogoff, a Harvard professor, while criticizing Bitcoin admitted that technology itself is good and governments should regulate it like fiat currencies. However, with government intervention, Bitcoin’s lure as an unregulated currency may decrease. States may issue similar currencies or digital versions of their currencies as Jamie Dimon (JPMorgan chief) suggests.

Evolution of Bitcoin In 2017

A quick look on Bitcoin price through 2017 is very interesting.

January: around $1,000

May: $2,000

August: $4,000

September: $5,000 with a large quick drop to $2900 when China banned it

November: $7,000

December: 16th $19,340 – 22nd: $11,500 – 23rd: $15,200

But now the price has decreased down by its one third its very volatile. It lost nearly around its one-third value. There are many reason for this to happen but nobody is quite sure whats the actual reson.

Ethereum To Invest And Reasons for Investing

i) Ethereum
For the moment, Ether is relatively stable (like an actual currency): Bitcoin’s price is mimicking a stock experiencing a period of rapid growth. That is a good investment and value store (for the moment), but its kind of awkward for a currency. Ether’s price has been rather stable recently. In terms of price alone, cryptos with more stable prices like Ether make more sense as currencies than Bitcoin.

Ethereum’s network is built to be so much more than just a blockchain for a cryptocurrency. The Bitcoin blockchain supports one type of contract, the Bitcoin cryptocurrency AKA “token.” Ethereum’s network is meant to create new coins, be used for different types of contracts, and even be used for app development. There is even a Minecraft-like game stored on Ether’s blockchain called Etheria.

Ether is the top #2 coin by market cap. Its market cap went up since the summer, even though its price didn’t. In other words, the market is there, it is just stagnant. With Bitcoin catching so much positive press, it is likely on a matter time until that excitement trickles down to the other top coins again. The #2 coin is a logical place to trickle.

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