Why Ethereum Will Win The Crypto-Wars
Hi guys,
Danite here! How's everyone doing?
I just wanted to talk about why Ethereum will win the crypto wars over bitcoin and all the crypto-currencies out there.
While bitcoin continues to surge ahead up to 6000 us, Ethereum has done the opposite and dropped back to just under 300 us.
Were any of you disappointed at Ethereum's lack-luster response to fall back so quickly after the Byzantium upgrade?
I have to confess that I was, at least a little.
Many people have mentioned that Ethereum was expecting a price correction at some point, and so apparently this is quite healthy to see it do this.
My general outlook for Ethereum still remains positive, because no one can deny that Ethereum has intrinsic value.
It offers revolutionary technology from finance through to healthcare, and the legal industry.
Smart contracts too were a major trigger for Fortune 500 companies’ interest in the Blockchain, and when you put everything into perspective, the world's banking industry knows how important this blockchain technology really is!
So blockchain is definitely here to stay, and the Ethereum platform is positioned well to benefit greatly from this, and what it offers.
Already a lot of major companies, and players have begun to work with the Ethereum platform, such as Microsoft, and JP Morgan. More recently, one of Russia's largest banks also signed up to the Ethereum Enterprise Alliance, and about four weeks ago, Vitalik Buterin and VEB, another Russian bank, closed a deal to create Ethereum Russia. This is all good news!
Sometime in the very near future Ethereum will be mainstream.
I think the next logical step will be to offer Ethereum derivatives for the American market, and when that happens, it will open the door to even more mainstream demand for Ethereum therefore increasing the price to levels not seen before.
Investing in ethereum is for the long term, it remains a strategic choice for myself, and for many other investors out there. I remain confident it will do well....but as always, the question begs. 'When will the ethereum hit the 1,000 mark? Well, it may be sooner than you think...
What are your thoughts on this? I love to hear all your comments. Do you think Ethereum is a hot investment for the future?
I believe that Ethereum will hit $1000 and it could be soon.
I do not believe for a second that the ethereum blockchain (hence the token) has a chance to overtake Bitcoin. To start, from the token perspective, it has no store of value ability since it is not limited. They can expand ETH as much as they want. Part of the attraction of BTC is that there are only 21M.
Secondly, Wall Street money is about to enter and the average person only knows Bitcoin....even big money people. That means brokers arent going to waste their time trying to explain ETH to people...they will just put them in bitcoin.
Thirdly, since only BTC has the lquidity Wall Street needs, that is where the big money will travel. And what does that mean? The developers and entrepreneurs will end up there simply because that is where the money is. The big pockets dictate things.
The only advantage that ETH has at this point really is smart contracts and that is going to disappear. Charlie Lee already is working on putting them in LTC which is build on the BTC blockchain. It is the same coding.
I like ETH I just think they messed up with the lack of a set number of tokens. This will preclude the investor money from finding it since Wall Street people hate dilution.
Thanks for your thoughts on the matter Taskmaster4450.
Bitcoin and Litecoin would have to be my two other hot picks! I really think Litecoin is going places. The ratio of Litecoin to Bitcoin is about 1 to 90 at the moment compared to the previous year where it was about 1 to 150, so it's on the way up for sure!
I am a huge Charlie Lee fan. My view is that he is out of the Elon Musk/Steve Jobs mold. He has the ability to have a vision and bring it to fruition. He made the decision to hook his wagon to bitcoin. It is funny because I believe he will solve many of the challenges bitcoin is facing. Since they are the same basic platform, when he adds in secure vaults and smart contracts, the formula will be written for the bitcoin developers to code it in.
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