Bitcoin is dying Ethereum will overtake bitcoin in 2017 after the dao invests over $100 million in expanding the...

Bitcoin is dying Ethereum will overtake bitcoin in 2017 after the dao invests over $100 million in expanding the utility of the ethereum blockchain.

Bitcoin owners are headless chickens while ethereum users invest in the future.

Discuss:

If the world was full of intelligent people with sense, you would be right.

Unfortunately we live in a world where one of two morons are going to become president of the USA, purely because people are not intelligent at all.

Mainstream adoption is whats going to drive success in cryptocurrencies, and the average person has the intelligence of an ant.

BTC is a simple concept, and people are somewhat familiar with it. ETH is far more confusing, and most people have never heard of it.

BTC has already won.

When the economy comes crumbling down, you can bet normal people will be moving some of their savings into BTC, not ETH.

BTC has already failed. Where is the adoption lol? +Core vs Classic

>eople are somewhat senpai
eth is not for keeping money ...

But BTC doesnt have mainstream adoption even after 7 years. That's a dinosaur in tech terms. To put it in perspective, Paypal had more users in its first year than bitcoin ever had in entirety. I'm not arguing that Eth is any better. It's just a lesser known shitcoin with a silly name.

Bitcoin is something people don't see the need for yet. It's still extremely young. You cannot expect a major change to happen in a blink. 7 years is nothing.

Wait for the 2016 financial crash, where there's bail-in's and banks start legally stealing peoples deposits. This will likely light a fire under a lot of people, and they may start to see the value in a decentralized currency.

BTC only failed if you had unrealistic expectations of it.

I'm long both, but for different reasons.

Superman comics, baseball cards, classic cars and even fucking pogs were absolutely amazing investments, because people had emotion attached to them in their youth. I can't think of anything with a limited supply that has as much emotion attached to it by today's youth as bitcoin.

Ethereum is the first non-fiat currency to be produced since the US went off the gold standard; it's a currency backed by computing power. Supply and demand for computing power will both increase over time, so I expect ethereum will have more of a steady rise. But since Amazon, Microsoft or Google can just shift their server farms to mining it if it gets too juicy, I doubt there will ever be an extended imbalance between supply and demand for Ethereum. Still, since computing power is a real and important commodity and the people working with it all have really impressive resumes, I expect it to be the sensible standard when the US dollar finally blows up. Ain't nobody gonna switch to Renmenbi or Rupees when that happens, Gas will be where it's at.

I'm not holding my breath.

Actually, I completely agree that Ethereum investors are investing in the future, I just also think there's a lot of upside to investing in the past.

>2016 financial crash
I'd wait for the 2017 financial crash myself, the stock market tends to tank hard in the year of the rooster.

You know that Ethereum will be switching to Proof of Stake in the next year or so, right?

>Proof of Stake
so, what difference will it make?
will ethereum get stronger or weaker because of it?

I'm just saying that there probably won't be enough time for large companies like Microsoft/Amazon/Google to get involved in mining like you said. It may or may not be a problem depending on how much of the interest in Ethereum is based around mining. Some people believe in the technology, but some are just here to mine and will pack their bags as soon as that's over. We'll just have to wait and see.

>you said
yeah, sorry i'm someone else.
>see ID

i'm a noob in almost every sense when it comes to crypto-currencies, but looking at the charts o various e-coins i can see a many of them mellowing out, settling down into a steady-growth pattern.
it's obvious bitcoin has seen it's best days and will probably stay at 500-600.
what i'm interested in is seeing the take the bitcoin route, go to 1000, so i can cash out and make some money before it too comes down to say 200 and stay there.

it is my prediction that we'll have 3 e-coins at 3 $ levels - 500, 200, 50. the top 2 are bitcoin and eth, we'll see who takes the 3rd. may be ripple, or maybe people will see litecoin has a strong base.

the rest 100 e-coins should be used to make money.

>seeing the take
>the
ETH
autocorrect, sorry.

>other little errors
eh, you are getting what i mean.

Sorry for mistaking you for the other guy, I wasn't paying attention. I guess it's reasonable to predict that there will be 3 main coins, though I'm not too sure about those values you gave. They sort of assume that cryptocurrencies will never reach mainstream adoption and that demand as already peaked. Personally, I think that market capitalization could be much higher and it's just a matter of when. Good luck trading - you'll need it.

>not too sure about those values
yeah, many have been saying bitcoin will again reach 1000. i'm not too sure.

>market capitalization could be much higher
i'm hoping it does. it will give newfags like me to get into the digital currency game and may be make some money.

also, i'm guessing pretty soon the world's central banks will come up with their own e-currency(ies) and that will probably be the death of the currently dominating decentralized e-currencies, or could give them a bigger boost.
what are your thoughts?

>Good luck trading
thanks, you too.

PayPal was not the first company to consider or adopt a peer to peer payment system, they were just the first successful ones. The concept had been around since the 90s, but took nearly ten years for the adoption of payment over the Internet to become mainstream enough to work.

BTC is the same type of conceptual revolution. People will have to accept the idea of transferring their money out of fiat currency to use on digital platforms before any form of digital currency will become commonplace. That clearly hasn't happened yet.

>That clearly hasn't happened yet.
That's a huge assumption to think that not only will people want to use something besides digital fiat on digital platforms, but that it will specifically be an existing cryptocurrency and not a digital asset or commodity that a well known, trusted entity (Apple, IBM, BofA, Federal Banks) might produce. Honestly I think the reason that Bitcoin is not mainstream is because it is Bitcoin. Nothing will change that.

While it's true that central banks could create their own cryptocurrencies, I'm not so sure that what they'd create would be compatible with the decentralized system most people who are involved in crypto want. Unless the general public is informed, they'll just go along with whatever banks decide to do. It wouldn't be disastrous, but it would certainly make showing the benefits of complete control over your money vs. trusting a bank more difficult. It's a lot of variables, so I'm not sure what the end result will be. I'm a bit biased because I dislike our current financial system, but I think the current cryptocurrencies would benefit from this.

For sure. For the record, I'm not suggesting you go out and buy bitcoin. In fact, while I've got a small stake in eth, I'd be willing to bet on something like clearxchange over any shitcoin, at this point. I'm just saying that crypto is more like PayPal than it might seem at first blush.

>decentralized system most people who are involved in crypto want.
I agree with you here. People have already mostly made up their minds on cryptos. The concept of Bitcoin is already mainstream, even if the technology is not. At the peak of its hype in 2013-14, bitcoin had so much world-wide media attention that very few people are still unaware of what it is. At that point the public had a choice to make. Those who want decentralized systems and hate banks have said "yes, sign me up!". Those who think decentralized systems are outside of central authority and therefore less regulated and less protected (risky) have said "no thanks, I'll pass". The reality is that those in the second group heavily outnumber those in the first which is why Bitcoin never became maistream. Just because it is a new technology and a small group of people think it is better than the existing financial system does not mean that it will succeed. In fact, the more time that passes, the less likely it is that it will ever happen.

add to the fact that most normies thought they needed $1000 or more computers to own bitcoins. lack of knowledge also plays a major role in.
if you'd told them that, "hey, you provide a service, we'll pay you. this time in bitcoin, which your bank can't steal fro you and the govt. an't ask for tax on. So, would you like $ or BTC?" and i bet almost everyone today would be dealing in BTC.

normies need to be explained in terms they understand.

Also, the fact that corporations took over the mining business is what played an almost equal part in bitcoin not going as mainstream as we'd've liked it to.

i think we need a better system of managing e-coins than having everyone download 25GBs of data and burning their GPUs 24/7.
i think we'll always need a centralized system of management. or maybe some brainiac among us needs to come up with a cheaper and faster method to keep it decentralized.

personally a decentralized, e-currency sounds like utopia to me and i'm all for it.

Let me bust out my crystal ball...

>team slockit prove to be massive frauds and/or failures
>confidence in the DAO and any future proposals is shaken
>massive exodus as people cash out their DAO tokens back to ETH crashing the ETH price
>DAO is DOA and has taken ETH down with it

All irrelevant compared to the fact that it is a complete pain in the ass to buy bitcoins for a normie. They can give some company they've never heard of their bank account and routing numbers, upload their social security and drivers license cards, and wait ten days for the block chain to download before they can see if they were scammed or not, or they can meet some shady fucker in a truck stop bathroom after ten days of downloading and hope they don't get robbed.

>team slockit prove to be massive frauds and/or failures
>DAO doesn't vote for their shit projects, chinese millionaires decide otherwise
>DAO makes money
>nobody gives a shit about slock.it