Bitcoin Holds the Franchise Tag but can Ethereum Catch Up

3 months ago
55 in blog

Bitcoin holds the franchise tag in the crypto currency space, meaning Bitcoin and Crypto Currency have become almost synonymous with newcomers and those who just don't know any better. Because of the word relationship when most people accept advice from someone who isn't entirely correct, or got misinformed somewhere along the way, they tend to enter the market purchasing bitcoin. This pushes the demand for bitcoin higher even if they wanted to purchase an altcoin of some type they still buy bitcoin first. This is likely what started the major run for bitcoin in the first place followed by a mad rush and major FOMO disease.

My point is maybe the market figured that out. Ethereum is basically the same and just as popular. But most people don't think Ethereum when they hear Crypto Currency. They automatically assume Bitcoin. Since before the New Year Ethereum has been on a nice steady run testing 0.10 twice in recent days. At 1/10 the price and on an upswing while Bitcoin remains stagnant it seems like the time may have come for Eth to catch up some ground and move closer to BTC overall Market Cap.

What are your opinions on Price relation between the 2?

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50
  ·  3 months ago

I think Ethereum has the potential to surpass Bitcoin. In alot of ways it already has. The market cap comparison is misleading because really a good majority of the coins on the market right now are running on the Ethereum blockchain. If you combine the marketcap of all ERC20 tokens and Ethereum it helps you see the bigger picture of it's utility.

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55
  ·  3 months ago

Interesting viewpoint. Here's a question I don't fully understand. If ETH or BTC were to literally crash and become non functional for whatever reason, would all the Altcoins such as ERC20 Tokens be non useable?
Meaning they depend on Ethereum Chain to function or are they somewhat independant. My understanding is a ERC20 has to have Ethereum running to be functional.

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50
  ·  3 months ago

Well from my understanding bitcoin forks are on their own network so they could continue to function. I think it's just the name brand "Bitcoin" is so powerful at this point that if the original bitcoin died alot of people would just give up on alot of altcoins.

Ethereum dying would literally kill alot of these other altcoins because they actually use ethereums infrastructure to process transactions. Even some of the coins that are "Ethereum Killers" or competitors are actually erc20 tokens currently. At some point they hope to have their own networks but who knows if or when that will happen for most of them,

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55
  ·  3 months ago

Gotcha. Thanks. Kinda what I was thinking. Definately the Name Bitcoin drives it's price. Majority of people just learning or entering the market think Bitcoin is Crypto Currency in general and buy BTC cause it's all they know. I think it will remain a market setter for a long time. Meaning it's price will dictate the other coins prices. Like the USD is for Stocks. BTC will be for Crypto.

29
  ·  3 months ago

Etherum catching up...I doubt it

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55
  ·  3 months ago

Not equal but at least 50% of total market cap. It's at 9.8% now. 10% seems way undervalued to me.

48
  ·  3 months ago

nice post jdean !!

44
  ·  3 months ago

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39
  ·  3 months ago

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