Current crypto-currency situation as a chat log ;-)
A speculating trader, a bitcoin enthusiast (bitcoiner) and an Ethereum enthusiast (etherfan) are in the same room and chatting.
Trader: Oh shit, Bitcoin goes up, ether is flat for the last 8 months, and these hardforks .. hmm i dont understand the whole thing around them, but I think I'd rather shift my ether into BTC because a bitcoiner friend told me that hardforks show platform instability.
Bitcoiner: ha-ha-ha, etherfan, your ethereum is loosing market cap. Thats because of the hardfork! Not sure how we'll handle the upcoming transaction volume, but hey - it doesn't matter, we are seen as a good storage of value. It will fix itself somehow. No hardforks on Bitcoin!
Etherfan: no worries, trader! Hardforking is the way to improve things in a blockchain. Things are moving slower than expected, but we made Ethereum more secure and found a way to scale up, reduce energy requirements for mining and provide a much more stable platform for true decentralized apps! So far we don't care much about the price of ether, the future of the platform is more valuable!
Trader: shit, if i have invested 5 months ago my ether into btc, now I'd be rich. Let me shift some more ethers into bitcoin.
Bitcoiner: Ethereum, you will die soon! Look at the charts! Just 7 USD vs 950 USD, bitcoin is the king!
Etherfan: to be honest dApp developers and users are happy with the lower value of ether in USD - ether is the fuel for execution of programs on the blockchain! Wouldn't you be happier if your car's fuel was cheaper?
Bitcoiner: Hmm, I don't care, Bitcoin is value storage! And you see, 8 years now without problems and need to do anything for scaling it up - it will survive without hardforks!
Trader: What scaling up are you talking about? Shit, i need to by more BTC!
Etherfan: hey, Ethereum is also delivering on its promises (with a bit of delay). We are launching new features like Swarm, Whisper and soon we'll migrate to Proof of Stake consensus!
Trader: Oh, bitshares price goes down, i must sell and buy BTC. I emptied my eth wallet already. Let me shift my BitShares.
Bitcoiner: etherfan, bitcoin price goes up! we must be better than ethereum! And all that without hardofrks, you see?!
Trader: Why the f*ck is my transaction taking so long to get processed? I've moved my BTC already 30 minutes ago..
SMH... Bitcoin or any other digital currency can and will have to deal with hardforks in the future. Neither Bitcoin, nor Ethereum are going anywhere. They are the #1 and #2 and will probably remain throughout 2017.
It's not about Bitcoin vs Ethereum. It's about Digital Currency vs everything else.
I totally agree. But what I mostly hear/read about how people think in the crypto-space is BTC vs ETH. I think there will be even more blockchains out there and each of them having its own value proposition and charm. Eventually, future blockchains such as Polkadot will link them up.
I think you are correct sir :)
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