Will Bitcoin be only for the rich (and early adopters who held on tight), and the rest for your day-to-day spends?
RE: Is Bitcoin becoming irrelevant?
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Is Bitcoin becoming irrelevant?
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Nope. Why will we need Bitcoin at all if we have Ethereum? Ethereum is a better store of value, especially after ti moves to proof of stake. It is also more secure. It has better governance. It's more flexible.
I see Ethereum eventually having the market cap and position of Bitcoin, but how long will it take is anyone's guess.
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Ethereum had the chance to also learn from flaws in bitcoin and provides the foundation for any other coin to be successful as well - it's inclusive - not exclusive. It does not matter which coin will win any position over the other. What matters is that crypto enters the mind of the fiat addicts - steady but focused along the mission and the promise of a better world ;-)
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Even if Ethereum does have the same market cap as bitcoin it still won't cost as much per eth. The only way for that to happen is if ethereum gains a market cap of 225 billion. Could happen but it would take some time and by that point cryptocurrency would Probably be mainstream. Or investors could pull their money out and it all could come crashing down... Anything is possible :)
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