Will Ethereum surpass Bitcoin in value? What are your thoughts?

in #steemit7 years ago (edited)

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I want to begin by saying, I like Ethereum, I think it has great potential, with all cryptocurrencies, none of us know what will happen, we can only guess really. But the one thing that does concern me about ETH is the available supply. Currently at 92 million compared to Bitcoin's 16 million. This must effect the way the price per ETH will grow, it will be harder to reach BTC's current standing at $2500 because there is just so much of it out there.

I've been watching ETH for some time now and saw it surpass BTC in daily volume a couple of days ago by more than $500K for the first time I think since the inception of cryptocurrencies. This increase in volume came right after the big dip most currencies experienced just a few days earlier where Bitcoin dipped to a low $1900 after reaching a peak of $2700 and ETH dipped to a low of $133.

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Ethereum has also risen quickly in value since January 2017. From its original value of $8 it has risen 2,367 percent.
If you were to compare the rise of Cryptocurrencies say to social networks of 2004 forward, an analogy can be made on how Bitcoin is a sort of Myspace and Ethereum is a Facebook. The analogy is superficial of course, but there is the fact that Myspace was dominant and at one time thought to be the future, it was taken over by it's more stable competitor. The point of this analogy is that in new technologies a lot of times the trailblazers that find dominance in the early stages don't always make it out of the bubble. Let's face it this is a big bubble we are all looking at. It is possible that Bitcoin falls, although I really don't see that happening. I think Bitcoin and Ethereum are both solid, I think both will continue to grow exponentially.

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But how far? That's the question. What about all the other coins? I really don't want to call them "Altcoins" because I feel it unjustly ties them all together as if it's Bitcoin vs the rest. I think this is very unfair because all the new coins coming up do offer different technologies and perspectives. Steemit for example, I have a lot of faith in Steemit and see what it is doing as incredibly revolutionary, so far ahead of the curve most people outside of the Steemit community can't quite see it yet. But give it some time.

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Lets see what happens with Bitcoin on 1st August. Will be a crazy day!

Oh yea the soft fork hard fork... interesting to see what will happen

I like ethereum a lot! But I can't see it overtaking Bitcoin if I am honest.

@cryptoviking yeah I can see what you are saying, personally I think it will but like I said in the post one of my concerns is the amount available, it's really high. Do you see any other currencies being competitive with Bitcoin?

I think if one coin is to take on Bitcoin, clearly its currently Ethereum, however I wonder if Monero is a diamond in the rough. Litecoin had its day and I wonder if it will ever make a strong comeback. Who knows, there could be a bitcoin killer released tomorrow! I do doubt that though :D

Will the Ferrari catch the Vw Beetle that is 4 hours of advantage? Yes.

@dralex what about the very high amounts of available supply? Do you think that will impact ETH ability to reach where BTC is currently? What are your thoughts?

i think Ethereum with fall down in the market but thats just me

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