Today we're going to be discussing the differences between Bitcoin and Ethereum, go over the new changes, and how each has performed as an investment - Enjoy! Add me on Instagram: GPStephan GET YOUR FREE STOCK WORTH UP TO $1000…
Today we’re going to be discussing the differences between Bitcoin and Ethereum, go over the new changes, and how each has performed as an investment – Enjoy! Add me on Instagram: GPStephan
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The concept of Ethereum was first described in 2013 by then 19-year-old Vitalik Buterin, who created it as a way to facilitate programmable contracts using its own currency. Ethereum is built on the same BLOCKCHAIN network of Bitcoin, except – it allows for an open source platform where programmers could build applications that facilitate the exchange of money, content, property, or anything of value – in the form of what’s called a “smart contract.”
This is a digital agreement that performs a specific task when certain conditions are met…like, if you smash the like button – the like button will turn blue. It basically removes the middle man, and allows tasks to happen in real time without any human involvement. SO, in THIS CASE…Ethereum is just the network programs are created on, and ETHER is the currency that powers it…kind of like, Ethereum is the car – but Ether is the gas that powers the car.
But, in terms of “THE FLIPPENING” – to me, based on past performance – it’s a legitimate topic that should be taken seriously.
This also plays into the topic of what’s called “Bitcoin Dominance,” which measures Bitcoin’s market cap, relative to the rest of of the cryptocurrency industry….or, in other words: how much of the entire market cap belongs to Bitcoin? The general thought is that – if bitcoin rises…so does almost every other cryptocurrency, alongside with it…and, the opposite happens if Bitcoin falls…while everything else begins selling off.
In this case, Bitcoin dominance has been steadily falling since 2017 after other options, like Ethereum, Cardano, and a multitude of others have begun taking some of its place…and, throughout the last 5 years…Ethereum is beginning to catch up, having previously reached 2/3rds the market cap of Bitcoin in 2018.
BusinessInsider just recently quoted a 24-Year-Old Cryptocurrency Hedge Fund Manager as saying that “Bitcoin is a store of value, it’s digital gold. And so its market cap, at most, is going to be somewhere around gold – maybe larger, because it has some properties that are better than gold. But that’s roughly the benchmark you’re going to use to cap its market size,”
On the other hand, “the versatility of the ethereum network would be the key attraction for developers and investors alike. Ethereum is trying to power the rails of all of global finance in the future, and that is a much bigger market, if it does succeed.”
Obviously, not everyone agrees – and, even the Billionaire cryptocurrency investor, Mike Novogratz, says that – even though it’s possible, “what we don’t know yet is ethereum versus solana, ethereum versus luna, ethereum versus polkadot, how the level one battle is going to turn out”
As for my take on things…I think the Flippening has merit, although Bitcoin and Ethereum are fundamentally different and shouldn’t be seen as competitors.
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