Just like Bitcoin received massive institutional investing it looks like Ethereum is on that path as well.
There are a number of things happening (or should happen) within the next 7 months. All of which are hot topics pointing to reduced supply and increased investment with use cases. Let's take a look at these three sections.
- Faster speed than bitcoin
The block speed of bitcoin is roughly every 10 minutes which fills up fast and often times pushes your transaction to be many hours from now. While there are alternative systems such as lightning network most people don't use them and instead just use the chain itself. This has caused both high fees but even SLOWER times.
Ethereum mines a block every 15 seconds. A DRASTIC difference and Institutions are now seeing the benefits of Ethereum over Bitcoin. This seriously is going to start paving the way for Ethereum to overtake Bitcoin as Bitcoin continues to remain stagnate. My money it's on Bitcoin anymore I suspect Ethereum to overtake it or another block chain within the next year or two.
Just today a rework was done to help reduce the fees on Ethereum it doesn't seem to be doing al that much as the average fee is still roughly $13.30 however that does put it ahead of bitcoin whos fees are averaging around $18. No a bit difference and if that was the only difference between Ethereum and Bitcoin then my money would still be on bitcoin. But Ethereum has many other advantages to it including a growing and robust team of developers creating thousands of usecase apps for the blockchain.
This is something we need to start working on right here at Hive. More use cases means more demand on the same supply and the flow of liquid funds from one person to the next. I understand that Hive has zero fees but honestly I kind of wish it had some fees even if it was super low. This is a way to burn extra supply right now there really aren't many if any ways to burn hive and reduce the supply thus it's an ever increasing supply of 3% +
A lot of work still needs to be done to get PoS up and running. However once running in Q1 or Q2 it's going to cause the reduced supply of Ethereum to start being locked up. Expecting is anywhere from 40% - 70% of all Ethereum to be locked up into the PoS network which will earn those staking rewards in Ethereum or a type of Gas token. Because of this a drastic supply cut will happen and skyrocket the price.
- Faster blocks, reduced fees
- More use cases being built daily, high developer action
- Burning Mining fees
- Locking up 40%-70% of Ethereum when PoS launches
What are your thoughts do you feel we will see Ethereum overtake bitcoin? Why or why not?
Posted Using LeoFinance Beta
Once the fees drop, Ethereum and its entire ecosystem will definitely be a worthwhile blockchain to invest in. Their dapps are the best there are right now and its about to get even better. I'm getting pretty excited for ETH.
Posted Using LeoFinance Beta