You are viewing a single comment's thread from:
RE: Put Your Money Where Your Time Is
I agree, generally, but not specifically.
I certainly agree that coins we use have already proved themselves, in the using. Steem wins. EOS is bound to get there too.
The exception remains Bitcoin though. We may not use it, but with the US economy trillions in debt that will never be paid off, it's bound to tank sooner or later, and Bitcoin's store of value function will surely prove itself.
Bitcoin's biggest advantage is that it has first move advantage and 99% of the world is completely ignorant to how the technology works and what it can do. When Bitcoin is no longer #1 it will fall off the radar. Bitcoin will no longer be #1 when smart contract platforms start offering services that the general public actually wants to use.
One of the smart contract platforms is bound to take the number one spot in a few years or less. Bitcoin is a flip phone. Smart contracts enable smart money. Ethereum, EOS, Cardano, and Tron will all be worth more than Bitcoin in less than five years.
I'm currently using MakerDAO to post my Ethereum in a CDP and draw a Dai loan from it. How many people do you think know how to do this? The blockchain is transparent. There are 2572 CDPs on the MakerDAO platform. Many of those are closed and many of those are also likely the same person. It's safe to say that less than 2500 people worldwide know about this Ethereum smart contract.
What's going to happen when people realize that they can gamble without a house gouging them (Augur)? What's going to happen when people realize they can take out loans and get insurance on the blockchain. The applications for smart contract technology are boundless. Bitcoin is Bitcoin. No one wants a flip phone. They just don't know yet that Ethereum is the smart phone because the apps on it aren't that useful to the average person yet.