From Venture Beat
While Bitcoin is currently trading at close to its all-time high, its dominance in terms of proportion of total cryptocurrency market cap is rapidly decreasing — ground largely given up to Ethereum.Read more: https://venturebeat.com/2017/06/11/why-ethereum-is-outpacing-bitcoin/This shift is probably being driven by a few factors. Despite its recent appreciation in value, as a technology, Bitcoin has stagnated over the last three years. Two rival factions have emerged with violently opposing views on what should be done to allow the Bitcoin network to handle more transactions than it can right now. While Bitcoin has been paralysed by indecision, Ethereum has raced ahead with technology that not only does everything Bitcoin can do faster, in higher volume, and at lower cost — it does a lot more besides.
As a “hard fork” looms, which looks set to split Bitcoin into two separate currencies that will have to fight for custody of the Bitcoin moniker, anxious Bitcoin holders are increasingly divesting themselves of Bitcoin to acquire Ether — the cryptocurrency that fuels the Ethereum network.
The other side of it is that Bitcoin is really only useful as a store of value. Even then, its usefulness for actually transacting value is limited. In a world where people are used to online payments being confirmed instantly, Bitcoin transactions can take anywhere from tens of minutes to several hours, depending on how busy the network is. It’s also expensive — especially if you’re only sending small amounts. The average transaction currently costs about $1.50.
Ethereum, on the other hand, was never intended as a Bitcoin competitor. Ethereum is actually a platform for new kinds of decentralized (often financial) applications (dApps) that run on a peer-to-peer network of computers. These dApps are designed to disintermediate the kinds of relationships and transactions for which we have traditionally required things like banks, public registries, and the legal system.
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bitcoin is getting slow and high TX fee 😡
Lots of newbs have been asking me about bitcoin since it's been in the news lately. I point them towards ether and dash.
Bitcoin gets all the media because its older but sooner or later ether > bitcoin. Eth to the mooooon
I thinks ethereum is very good to invest as bitcoin has gained much in the past few months.
How about the fact that STEEM pulled an Etherium and gave a tenfold increase in price, almost? I think cryptocurrencies [(lol it autocorrected to cryptosporidium) probably AI'ing my Microbiology searches] are just going up in general. But STEEMIT is where it's at for us STEEMIANS to make that sweet crypto money simply for Upvoting and Reposting each other. I think STEEMIANS are sleeping on STEEMIT!!! We need to jump on this and other opportunities while the iron is hot. Ride the wave until the water runs out!
Think of it this way. If STEEM is already worth more than $1USD than why can it not be worth $5,000? We need to power up before the price is too high so support your fellow STEEMIANS and Resteem posts and Upvote for sure 👍
The only way the price of STEEM goes up is if people buy it. What demand is there for STEEM? Why would anyone buy a token when they know the money they put in is being given to content creators? What incentive is there for someone to own STEEM?
Is it growth? Right now I see STEEM as being in a very unstable stage because there really isn't a clear long term exploitable use for buyers of STEEM.
Well personally as someone who gets SP and SD from creating, for me it was buying STEEM and using that STEEM to Power Up so I could make content that had value and is now a part of the internet. The thing is the value lies in what it offers and what it offers is encryption and an uncensored way to speak freely. A lot of major sites aren't letting people speak lately and the people want to know what is going on so I think you are right, you must buy in, financially and also into the community. You either think Steemit has something unique to offer or you dont and with so many people that got straight paid (!) I believe there is something here of great value that people are spending quite a bit of time doing. But if you don't have the power tou wont see the power. Making a few hundred worthless posts is just the way you earn your stripes and become a name people recognize. Recognize and like or at least appreciate or pity haha
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Nice piece.
very interesting...
I fully agree with you my friend.
as usual right