Will Ethereum pass Bitcoin by Aug 5th? Trollbox, Coinbase, Western Union

I’m Ashton Addison from www.EventChain.io and this is the Crypto Coin Show.

Where I decrypt the facts, to keep you on track in the crypto world.

Todays Crypto topics:

Coinbase strikes a pilot project with Western Union.
Poloniex exchange disables their troll-box to focus on Customer support.
Steve Sokolowski predicts Ethereum to overtake Bitcoin by August 5th.

Let’s start by saying that Coinbase, popular American Bitcoin and Ethereum exchange, is teaming up with Western Union on a pilot project to better implement back-end fiat transactions on the Coinbase exchange web application. There is no launch date at this current moment, but it’s already been in the works for a while. Since it’s just a pilot, it isn’t guaranteed to come to the market, but it is an interesting project which can lower the barriers to entry of to cryptocurrency even further, especially for those accustom to using Western Union for international remittances.

This is an interesting partnership between these two parties indeed because in my opinion a lot of people who regularly utilize international remittances though WU have been using bitcoin transfers as a method to get away from Western Union! The fee structure of WU is significantly higher than that of Bitcoin, even with the current bitcoin transaction fee issues, so this could be one of the ways for Western Union to enter the crypto market.

Also, the infamous Poloniex troll-box has been shut down. The troll-box was just a chat box on the sidebar of the Poloniex exchange website, but honestly was mostly spammed and conversation moved so fast you could barely even read it. Often traders would spam sell when they were buying, or try to pull the emotions of others watching the charts waiting to make a move. The majority of the time when an Altcoin is skyrocketing, it is exclusively because of the trading volume on Poloniex.

Poloniex has suffered many Direct Denial-of-service DDoS attacks in the recent months and weaknesses in its system due to the massive influx of traders and trading volume on their site. Recently the troll box became an area for complaints and support tickets for customer issues because of the user influx. The troll-box moderators have been reassigned to aid in customer support directly. Poloniex now feels even more like an area to strictly make your trades, and less like a hangout area. I guess it’s their own form of letting everyone know there’s “No Loitering”. And you can’t blame them if there was no meaningful conversation taking place and it helps alleviate the traffic from their site if users are not hanging around as much.

Finally, Steve Sokolowski has predicted for Ethereum’s market cap to overtake Bitcoin sometime around or before August 5th. Steve predicted the bitcoin bubble would pop because of the ongoing battle between the SegWit supporters and the user activated soft fork supporters, on top of the excessive bitcoin fees. Instead of choosing a bitcoin side, Steve believes people will just move to Ethereum.

Many crypto Reddit users are fed up with the censorship of the r/Bitcoin subreddit, and the mod censorship is now considered old news in the alternative sub-reddit r/btc. Steve mentioned in his post that his worthwhile Reddit comments would get deleted because moderators are either against the comment or have an agenda of their own. He believes bitcoin will crash coming leading up to august and Etheruem has a 70% chance of being the top crypto in 2018. I believed Ethereum market cap could easily overtake bitcoin in the fall as well, and will become the top currency in 2018.

What are your thoughts? Whose side are you on? Bitcoin, Ethereum, or some other coin? Let me know in a response below.

I’m Ashton Addison, CEO/Founder of the EventChain Smart Ticketing platform. See www.EventChain.io for our whitepaper and to join the movement.

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