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RE: Daily Crypto Markets Live Blog: Cubfinance V2 Day #3 (09/22/21)

in LeoFinance3 years ago

Very few. Like I said, I'm not saying Ethereum is bad. It's just too damned expensive to work with. And because of that, other chains are starting to make some serious inroads into their market share. Solana and Cosmos both have somewhat decoupled from Bitcoin/Ethereum and are starting to make their own noise. Solana obviously just took a major hit to their credibility but Cosmos is continuing to develop and add more applications to their chain.

Everything still revolves around Bitcoin, obviously, if for no other reason than that every single crypto worth anything uses it as their base pair. So, as Bitcoin goes, so goes the market. But, it's starting to change. I don't expect a complete decoupling until Bitcoin's halving events are non-events, which I don't think will happen until it goes down below 1 Bitcoin per block. Maybe even the one after, depending on the Bitcoin price at the time.

Everyone keeps saying it but I am firmly in the camp that ETH will NOT flip Bitcoin anytime soon. And probably not ever.

Bitcoin has first-mover advantage on store-of-value and it will be extremely difficult for anyone to every supplant them. The scarcity and safety track record will keep them in front for a long time.

Ethereum on the other hand faces massive competition and it will only get worse. Plus their fees are off the charts. Like I said, they're not going away, but they'll be sharing the pie with a LOT of different chains in the very near future. Just my opinion...

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As you said, Ethereum itself is great; it's the fees which blow.

A significant portion of the cryptoverse would not exist were it not for Ethereum, and I think everyone appreciates that detail. In a way, the fees reflect the fact that Ethereum is a victim of its own success.

As for The Flippening, it looks as if some other altcoin will have the honor of making it happen. Just as significant, some other altcoin will flip Ethereum.

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