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Strategies & Market Trends : Blockchain and Cryptocurrencies

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Glenn Petersen

roguedolphin

To: Elroy who wrote (226)	1/16/2018 6:51:56 AM
From: w0z	2 Recommendations Read Replies (1) of 7592

Hmmm, I agree most ICOs are launched using Ethereum platform. And my knowledge is sort of low here, but I think Ethereum is an ecosystem/platofrm more than a currency. No? I was following your apparent definition of currency as a common medium of exchange for altcoins (ICOs and exchanges). IMHO the GDAX data indicates the future direction of BTC/ETH IMHO. For a USA newcomer, the usual process is: USD in bank > USD to Coinbase > USD to GDAX > convert USD to either BTC or ETH in GDAX . BTC or ETH in GDAX to crypto-crypto exchanges (e.g. Binance). Once people learn about the delays and cost issues in transferring BTC to their exchange (up to 100X elapsed time and 10X cost), they quickly learn to use ETH for all transactions (if available on the crypto exchange). BTC has been the go to store of value and is the common denominator used to track crypto investments because it has been less volatile than ETH. However I believe that may be changing before our eyes. Case in point is the current swoon. Here's a chart of BTC dominance (market share) over the past 6 months. Note the relative rates of change for BTC (negative) vs ETH (positive). coinmarketcap.com and scroll down to Percentage of Total Market Capitalization (Dominance) and select 1 year. As far as using BTC as a currency to purchase everyday items, there is NO WAY that is happening with BTC fees in the double digits, not to mention delays of many hours. Would you spend $20 in fees to buy a cup of coffee at Starbucks and wait hours for the transaction to clear? There are going to be much better currencies available than either BTC or ETH in my opinion. However BTC remains the king for store of value (i.e. buy and hold) because it has withstood the test of time (and many attacks) very well.

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