The Flippening: Bitcoin vs Ethereum
In the last couple of weeks Bitcoin has lost a lot of it's share from the total market cap. From December 8th, where Bitcoin dominance was at 66% to now where it's just below 35%. In the meantime Ethereums share has steadily increased and currently stands at 20%.
There is a website (http://www.flippening.watch/) dedicated to this topic, where you can track the most important metrics of these two "contenders".
Objectively seen Ethereum has a lot of advantages over Bitcoin. It has faster transaction times, lower fees, smart contracts and so on. The biggest argument that is made for Bitcoin, is that it has been around for so long that the trust in Bitcoin makes it more valuable than any other cryptocurrency. I think this is a valid argument, but will this stand for long?
But more than what they have already accomplished, I'm interested in what will happen to this two cryptos in the near future. Will the full adoption of SegWit and the implementation of the Lighting Network really lift Bitcoin into new realms? Or will Ethereum be more successful goin forward with their switch from proof of work to proof of stake, sharding, plasma, raiden, zk-Snarks...
As I see it, Bitcoin has no chance in the longterm. Maybe it will not happen in 2018, but sooner or later it will. The Ethereum Network is just more innovativ and will bring more real value to this world. What in the future will get reflected in the price!!
What do you think? Will the flippening happen, or will Bitcoin continue to hold the championship belt?
I think eth tech is far better than btc. However for new users that convert fiat they have the option of Btc, Eth, Ltc. If they want to buy alt coins they need btc and here is the reason why. Most exchanges allow bitcoin to trade with any alt coin. Ethereum can trade against maybe 25-50 % of the alts on that exchange. Litecoin good luck if you can even get 10-15% of the alts to trade against ltc on that exchange. Also the branding of bitcoin, ask people have your heard of Ethereum vs have you heard of Bitcoin. For the time being Bitcoin will still be top dog. I hope when people realize how far superior ether tech is versus bitcoin, Ether will have its day.
Thats exactly why I think they will flipp. Because going forward Ethereum will have very good recognition too, and with lower transaction times and fees ethereum will be the prefered medium of exchange. So BTC is basically living of it's substance while ethereum is catching up with better tech...