Hardcore Bitcoin enthusiasts will not like hearing this but Ethereum is on the cusp of overtaking Bitcoin in market capitalization. Granted Bitcoin's numbers are fixed while Ethereum's are not, the market capitalization 'Flippening' speaks volumes to the fact that Bitcoin's dominance is no longer guaranteed. It appears as though Ethereum does not want to 'play second fiddle' to Bitcoin, it wants to be the Pied Piper of crypto-currency and lead the way.
Bitcoin's current market capitalization stands at around $47 Billion (US) while Ethereum's comes in at around $37 Billion (US). That is around a 23% jump in market cap. for Ethereum, so at about roughly $500 per Ethereum, it becomes the World's number 1 crypto-coin.
Bitcoin will most likely still outpace Ethereum in terms of actual transactions taking place, but that too could be threatened should the Dapps, to be created in the future and fueled by Ethereum, become popular with the rest of the World.
This flippening can be scary though!
Will Bitcoin cede its dominance? Or will Bitcoin continue to hold its crown and catapult into the $5,000 (US) range?
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06/12/2017
@streetstyle
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I was just thinking this was looking likely. I've yet to use Ethereum for anything, but I need to look into it. It think Bitcoin may become less relevant as other coins offer benefits such as privacy, speed and low/no fees
Yes ETH seems to be a true mover and shaker!
Thanks for swinging by @steevc It very much appreciated
full steem ahead!
Totally agree.. Ethereum is the only cryto which has the potential to surpass the market cap of Bitcoin... Very soon it is going to achieve this endeavour.
I also think Steem could be a big disruptor @hms818
Ofcourse, Steem will be bigger than facebook one day...
I like your thinking @hms818
Hi! @streetstyle
My portfolio contains Bitcoin, Ethereum, NEM, and of course STEEM!!
(^ ^) v
Then you @asim my friend, must be doing very well.
full steem ahead!
I think that Etherum will become the go to coin for smart contracts and day to day purchases but that Bitcoin will keep is role as digital gold and reserve currency.
I could see this being the case @erlik What do you think happens to steem in the long run?
I think that there will be room for specialist currencies like Steem, game credits or Golem tokens. These will be used to purchase influence, gaming micropayments or computing power but won't become a general currency. They could become very valuable though.
ETH is better than bitcoin in so many ways. Moreover, faith in BTC is starting to run out as transactions get heavy and expensive, making it harder to manage. The soft fork going on on Aug 1 is scaring holders too, which are jumping on ETH, which still have so much to give (Metropolis, switching to PoS, ICOs,...).
Conclusions: it's not about whether the flippening will occur or not, but it's all about WHEN.
My guess is within 2 months.
from the looks of things @lukescream it could be sooner than that.
full steem ahead!
could this be a good thing? If there is a second big cryptocurrency maybe it will present some form of power balance in the future. Ofcourse I'm just saying something I am no expert on the matter.
Appreciate your input nonetheless @sireastbound And there definitely is a power struggle. Will there be an equilibrium? Who knows!
Ether to the moon🌠
I still don't understand why people put money into Ethereum other than to make a quick profit from others. Although, Bitcoin is technologically worse and I don't expect it to be the leader, but why ethereum? So many better currencies to choose from, at least from what I can tell. But hey, people still invest in bitcoin also.
Ethereum goes beyond being a simple currency, it's a whole platform, an ecosystem. It's a technology which has potential to change the world like the Internet did.
Just have a look at how many interesting project are being created on Ethereum platform and imagine what else can be done.
This should justify pretty well the investment in ETH :)
Thinking of investment shift. Your advice @streetstyle?
@trix , about 1 1/2 maybe 2 months ago, I realized there was a Bitcoin civil war, so I decided to diversify my bitcoin holdings, and I so I currently trade with a small portion.
No advice, just opinions and ideas. Always keep some Bitcoin, its the Granddaddy and worth nearly $3000.
I would try something like STEEM, NEM or wait for EOS
anyway good luck.
Thanks for the up-vote on my paragliding video. I am following you now.
thanks for posting that video, pretty cool stuff @captainobviou3
I now follow u too!
full steem ahead!
Sweet!
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I don't think bitcoin will leave it's top place so easily 😄
Do you know why? korean 's trade volume, ETH volume is 7 times than the one of BITCOIN in korea.
ETH is $896mil, bitcoin is $135mil.