Bitcoin Is at Risk of No Longer Being the Biggest Digital Currency by abhishek9

View this thread on: hive.blog | peakd.com | ecency.com

cryptocurrency · @abhishek9 · Jul 4 '17

$0.15

Bitcoin Is at Risk of No Longer Being the Biggest Digital Currency

Step aside, bitcoin. There’s another digital token in town that’s winning over the hearts and wallets of cryptocurrency enthusiasts across the globe.

The value of ether, the digital currency linked to the ethereum blockchain, could surpass that of bitcoin by the end of 2018, according to Olaf Carlson-Wee, chief executive officer of cryptocurrency hedge fund Polychain Capital.

"What we’ve seen in ethereum is a much richer, organic developer ecosystem develop very, very quickly, which is what has driven ethereum’s price growth, which has actually been much more aggressive than bitcoin," said Carlson-Wee, in an interview on Bloomberg Television Tuesday. The San Francisco Bay Area-based fund has received investments from venture-capital firms including Andreessen Horowitz and Union Square Ventures.

![](https://steemitimages.com/DQmViXrQVWf86UhwNS1pUabTvCsZqmWQMGbQerzeHxCdriK/image.png)

The name ethereum might ring a bell because hackers stole millions of dollars worth of ether last year. Still, it’s piquing the interest of industries from finance to health care because its blockchain does far more than let bitcoin users send value from one person to another. Its advocates think it could be a universally accessible machine for running businesses, as the technology allows people to do more complex actions in a shared and decentralized manner.

Carlson-Wee wasn’t the first to forecast a bright future for ethereum. Fred Wilson, co-founder and managing partner at Union Square Ventures, laid out an even more ambitious timeline for the cryptocurrency in an interviewearlier this month.
"The market cap of ethereum will bypass the market cap of bitcoin by the end of the year," said Wilson, who is also chairman of the board at Etsy Inc.

After skyrocketing more than 300 percent in the last year, bitcoin now costs about $2,300 a coin, which is still around 10 times the price of ethereum. But the second-most popular cryptocurrency is gaining market share fast.

Bitcoin currently dominates a little less than half of the digital currency market, down from almost 90 percent three months ago, according to Coinmarketcap.com data. Meanwhile, ethereum has quadrupled its share, which now represents more than a quarter of the pie. Other virtual coins have also picked up steam. Carlson-Wee is a fan of auger, golem, zcash and monero.

Bitcoin’s growth has started to catch up to its fundamentals, which is likely what has been driving its astronomical gain as of late, he said. Others have attributed the surge to speculation, as well as increased interest in Asia and adoptionby established companies. Impressive performance aside, more than $150 has been knocked off bitcoin’s price since late last week amid concerns about transaction speed, safety and a possible price bubble.

"We’re absolutely still in the infrastructure building phase," Carlson-Wee said. "But I do think within one to two years, we’ll start to see the first viral applications that are user facing."

👍 aarronlight, nepalipahad, abhishek9, nawaaz, crazygrape, cheetah, steemitboard, abdalrhman

`author`	abhishek9
`permlink`	bitcoin-is-at-risk-of-no-longer-being-the-biggest-digital-currency
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency","bitcoin","steem"],"image":["https://steemitimages.com/DQmViXrQVWf86UhwNS1pUabTvCsZqmWQMGbQerzeHxCdriK/image.png"],"app":"steemit/0.1","format":"markdown"}
`created`	2017-07-04 08:14:33
`last_update`	2017-07-04 08:14:33
`depth`	0
`children`	6
`last_payout`	2017-07-11 08:14:33
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.128 HBD
`curator_payout_value`	0.018 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	2,994
`author_reputation`	3,739,048,238
`root_title`	"Bitcoin Is at Risk of No Longer Being the Biggest Digital Currency"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	7,247,045
`net_rshares`	22,680,699,909
`author_curate_reward`	""

properties (23)vote details (8)

voter	rshares	pct
nepalipahad	3,774,265,775	23%
cheetah	575,914,207	1%
steemitboard	197,159,079	2%
aarronlight	15,526,488,422	50%
crazygrape	703,389,450	100%
abdalrhman	0	100%
nawaaz	824,044,019	100%
abhishek9	1,079,438,957	100%

@cheetah · Jul 4 '17

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.bloomberg.com/news/articles/2017-05-31/bitcoin-risks-being-eclipsed-by-digital-coin-cousin-ethereum

👍 nawaaz

`author`	cheetah
`permlink`	cheetah-re-abhishek9bitcoin-is-at-risk-of-no-longer-being-the-biggest-digital-currency
`category`	cryptocurrency
`json_metadata`	""
`created`	2017-07-04 08:16:39
`last_update`	2017-07-04 08:16:39
`depth`	1
`children`	0
`last_payout`	2017-07-11 08:16:39
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	210
`author_reputation`	942,693,160,055,713
`root_title`	"Bitcoin Is at Risk of No Longer Being the Biggest Digital Currency"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	7,247,237
`net_rshares`	806,511,167
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
nawaaz	0 B		806,511,167	100%

@mrrandy · Aug 10 '17

Nice post, i followed your account, please follow me at @mrrandy

properties (22)

`author`	mrrandy
`permlink`	re-bitcoin-is-at-risk-of-no-longer-being-the-biggest-digital-currency-20170810t112026
`category`	cryptocurrency
`json_metadata`	""
`created`	2017-08-10 11:20:30
`last_update`	2017-08-10 11:20:30
`depth`	1
`children`	0
`last_payout`	2017-08-17 11:20:30
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	64
`author_reputation`	-8,185,826,243
`root_title`	"Bitcoin Is at Risk of No Longer Being the Biggest Digital Currency"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	11,380,811
`net_rshares`	0

@steemitboard · Jul 4 '17

Congratulations @abhishek9! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/firstpost.png)](http://steemitboard.com/@abhishek9) You published your First Post

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click [here](https://steemit.com/@steemitboard)

If you no longer want to receive notifications, reply to this comment with the word `STOP`

> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!

properties (22)

`author`	steemitboard
`permlink`	steemitboard-notify-abhishek9-20170704t104648000z
`category`	cryptocurrency
`json_metadata`	{"image":["https://steemitboard.com/img/notifications.png"]}
`created`	2017-07-04 10:46:48
`last_update`	2017-07-04 10:46:48
`depth`	1
`children`	0
`last_payout`	2017-07-11 10:46:48
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	690
`author_reputation`	38,975,615,169,260
`root_title`	"Bitcoin Is at Risk of No Longer Being the Biggest Digital Currency"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	7,260,158
`net_rshares`	0

@steemitboard · Aug 1 '17

Congratulations @abhishek9! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/firstpayout.png)](http://steemitboard.com/@abhishek9) You got your First payout

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click [here](https://steemit.com/@steemitboard)

If you no longer want to receive notifications, reply to this comment with the word `STOP`

> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!

properties (22)

`author`	steemitboard
`permlink`	steemitboard-notify-abhishek9-20170801t192829000z
`category`	cryptocurrency
`json_metadata`	{"image":["https://steemitboard.com/img/notifications.png"]}
`created`	2017-08-01 19:28:27
`last_update`	2017-08-01 19:28:27
`depth`	1
`children`	0
`last_payout`	2017-08-08 19:28:27
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	688
`author_reputation`	38,975,615,169,260
`root_title`	"Bitcoin Is at Risk of No Longer Being the Biggest Digital Currency"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	10,459,806
`net_rshares`	0

@steemitboard · Jul 2 '18

Congratulations @abhishek9! You have received a personal award!

[![](https://steemitimages.com/70x70/http://steemitboard.com/@abhishek9/birthday1.png)](http://steemitboard.com/@abhishek9)  1 Year on Steemit
<sub>_Click on the badge to view your Board of Honor._</sub>


**Do not miss the last post from @steemitboard:**
[SteemitBoard World Cup Contest - Belgium vs Japan](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-belgium-vs-japan)

---
**Participate in the [SteemitBoard World Cup Contest](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-collect-badges-and-win-free-sbd)!**
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: [@good-karma](https://v2.steemconnect.com/sign/account-witness-vote?witness=good-karma&approve=1) and [@lukestokes](https://v2.steemconnect.com/sign/account-witness-vote?witness=lukestokes.mhth&approve=1)

---

> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!

properties (22)

`author`	steemitboard
`permlink`	steemitboard-notify-abhishek9-20180702t071133000z
`category`	cryptocurrency
`json_metadata`	{"image":["https://steemitboard.com/img/notify.png"]}
`created`	2018-07-02 07:11:33
`last_update`	2018-07-02 07:11:33
`depth`	1
`children`	0
`last_payout`	2018-07-09 07:11:33
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	1,157
`author_reputation`	38,975,615,169,260
`root_title`	"Bitcoin Is at Risk of No Longer Being the Biggest Digital Currency"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	63,095,183
`net_rshares`	0

@steemitboard · Jul 2 '19

Congratulations @abhishek9! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@abhishek9/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@abhishek9) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=abhishek9)_</sub>


###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!

properties (22)