This might have been the last big halving event. I think BTC is gonna start dying this year. We'll probably see the rise of a different crypto as staple. It's going to be crazy.
I don't think the price is going to become lower, simply because fewer people will want to buy over time while whale sellers won't suddenly dump. The coin will seem active because of bot activity in exchanges so it will apparently look like an attractive asset.
But these whale sellers are just going to milk people who are getting in too late. Whenever BTC reaches a new mark of activity DROP, it will see a new dump until it is useless. Long-term newbie investors will lose most of the value they HLOD.
That's all because mining isn't as profitable anymore, so there will be less worker, which means longer transaction times. Because of high fees and little to no utility while good alternatives emerge, BTC will stop being used altogether. The recent difficulty drop proves BTC is desperate for miners.
ETH is clearly the strongest candidate as the new cryptocurrency staple. Because of gas fees and a very versatile market thanks to ERC-20 sidechains, everyone who hasn't already turned to it will do so in the future. I don't think it will ever hit 20k USD, but technical data shows how safe it is right now.
We will be able to consider this change “official” when BTC influencers start focusing on ETH instead. When that happens, I hope you don't have any BTC anymore. At that point, it's certainly never going to moon again.
Bitcoin is the most secure blockchain because of it uses Proof-of-Work. The fact that a ledger exists that takes hundreds of thousands of dollars to even attack a signal block is valuable. The security of the underlying chain is solid as opposed to chains that compromise that security for speed. Sure the Bitcoin protocol can't be used for day to day transactions, but it's integrity as a ledger is unparalleled. But it is easy to understand why most regular users would overlook this property.
Ethereum is overly complex and complexity stifles long-term innovation. There's a reason that Ethereum 2.0 has taken so long to develop and has experienced lots of delays. Scaling blockchains is a yet-to-be solved problem. I honestly think some other coin is more likely to overtake Ethereum before Ethereum takes over Bitcoin. That's not to say that Ethereum doesn't have more upside than Bitcoin, but my experiences with complexity give me many doubts about its ability to grow and be maintained.
Most native Proof-of-Stake coins have centralization issues. The Steem-Hive debacle shows how little security some of these coins have. A lot of ICOs and coins of the last bull run have shown little real innovation and have shown themselves to have used the marketing first and engineering second approach. It turns out that building blockchains is really hard and such approaches typically never meet expectations. People have been attempting to do stuff like this since the late 1980s. The technology has so much more nuance around it than simply whether or not it makes it easier to buy something online with. I appreciate the experimentation of other coins, but I haven't seen the technology that makes Bitcoin obsolete yet. I could be completely wrong, but my experience in the space over the past three years has strengthened this viewpoint rather than weakened it. Should be interesting to see what the future holds though.
If the only thing most people care about is holding, then ETH is just as good as BTC. But other than being held, what can you do with BTC? Its value is 100% related to nothing but public opinion.
ETH is much less secure than BTC. ETH has a larger attack surface and has less hash power behind it. If it can manage to fulfill it's vision and is able to innovate through sharding and scalable blockchains, then ETH does have a interesting value proposition, but those things haven't been proven to work yet. Also ETH's use cases require significantly higher data throughput which clogged the network in late 2017 with only a few dapps running. A lot more "ifs".
Secure but useless. Noone should buy it anymore. Whoever does is just being milked.
I guess I'm being milked 😀
Well, that is my opinion, but I don't mean any harm by saying that.
I think there are still a few more years left. I agree that the high fees make BTC unusable for everyday spending. However, as a store of value, it does not need to transact often. Currently, high fees are only a problem for traders. Hodlers don't pay fees for holding.
ETH has had days of high gas prices as well. I think it is less of an alternative than, for example, Dash.
We may have to have two tiers of coins for exchange. Bitcoin could be for large amounts of money while another, faster and low or no-fee coin could be used for every day spending. I had hoped litecoin would fill the need. However, it doesn't seem to be doing much of anything these days.
ETH really is good as a programmable blockchain. However, as for a currency, I think the ERC-20 tokens on it do a better job, like USDC, USDT, TUSD, and BAT.
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BTC is not a store of value. It has zero use cases. If I'm going to buy something online, I'm not going to use BTC. If I want to tip somebody, I'm not going to use BTC. What am I going to use it for? Nothing. Literally nothing.
The point is BTC miners don't want to mine BTC because it's not worth their time after the halvening because of how halvening works. So not only you already can't do anything with it, it'll take even longer to transact over time.
At least you can make teeth, jewelry and (most importantly) industrially critical technological parts using gold, so it is a store of value. But you can't use BTC for anything.
...and all this was written by user in the blog on the blockchain with 0 transaction fee and the block-sign-up of every 3 seconds.
How funny is ETH.
Graphene blockchains are underestimated.
That's the whole point of adopting ETH as a staple. BTC is completely useless, yet it's still the current "crypto fiat". The newest and best tech is never going to be the staple. Only whatever is already stable, trending and well-adopted has a chance. Afterall, media and popular opinions aren't controlled by you or me.