What should I do about Ethereum's rise? by davidnx

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cryptocurrency · @davidnx · Jun 20 '17

$0.30

What should I do about Ethereum's rise?

![](https://steemitimages.com/DQmZMj27nPqJP7JY8czULtrWT9Kx7wCg9DEmDp4UNSKou99/image.png)
(image from Pixabay)

I always use Bitcoin as the comparison when I am trading in other currencies. The recent rise in Ethereum has got me a bit worried though. I do this as it is the standard trading currency and I find other cryptocoins tend to follow its value.

I read in an article that at some point after Ethereum's market cap is bigger than Bitcoin's, a 'flip' could occur, i.e. Ethereum will become the most important cryptocurrency and we could start to see the demise, or at least pushing to the side, of Bitcoin itself. Ethereum may become the basic coin for trade.

I do see some things against this happening, even if the market cap is surpassed...

1. Bitcoin is still the standard. For example, even now, we don't see many currencies being traded against Etherium on Polinex.

2. Etherium is still relatively 'new' and has yet to fully prove itself.

3. New developments in Bitcoin may help to bring it's fees down, helping it to keep its market share.

Anyone else's views on this would be greatly appreciated.

👍 davidnx, tzimis, red8192cat, ankansheth, blackrussian, donny-indrapati, cowgummi, stndardwhiteguy, mikeyue, darth-cryptic, kochmaster

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@discernente · Jun 20 '17

Nowadays, the value of bitcoin is very overated. Mainly because of the infrastructure already built around it, and also because of emotional factors (it was the first crypto etc). But cold bloodly and technically speaking, it's almost demise is inevitable, it is just a matter of time. There are so many better crypto implementations nowadays.  That is my opinion. In the digital world nothing lasts forever, and things tend to be obsolete very quickly.

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@davidnx · Jun 20 '17

"But cold bloodly and technically speaking"

Yes, and no. You are correct in saying this because, without having to do any programming my self, I can copy another coin and technically it will be just as good as any other coin based on that code. However, Bitcoin has a multitude of developers/programmers with their time and effort invested in it. This, as well as the other things you mentioned, sets it apart.

And, of course,  "In the digital world nothing lasts forever, and things tend to be obsolete very quickly."
The only question is, how quickly?

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@discernente · Jun 20 '17

As quickly as bitcoin is losing market capitalization, comparatively to other altcoins.

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@wilkinshui · Jun 20 '17

$2.65

I have another view as i feel eth is ready to take over btc in short term and the first reason is btc as a coin to transit as reach it capacity as it is not efficient to use btc due to higher teansaction fee and btc is trading in norminal value, for trader it just seem alot higher for btc to double then eth.

👍 good-karma, xeldal, elgeko, feruz, esteemapp, bounties, steempoll, demo, tipping, mysteem, thedailyroto, doqstrader

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@davidnx · Jun 20 '17

But we have to take into account that a good percentage of Bitcoin transactions are of high value. These are not affected by the high transfer fees. Indeed, these high value transactions have driven up fees.

However, it does seem that a further proportional rise against Bitcoin in market cap value is inevitable. It should be noted though that Ethereum's fees are also rising, and it remains to be seen if an upcoming fork will address this. If not, other cryptocurrencies could start to take some of the action.

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@wilkinshui · Jun 20 '17

$1.49

Thank you for your additional information, so in this case do you think every coins are very similar? I mean when they are more established,  they will reach a point where high transaction fee is inevitable and then  some other alt coin will come in and then replace it?

👍 good-karma, feruz, esteemapp, bounties, steempoll, demo, tipping, mysteem

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