I bought my new house with ETH

in ethereum •  8 years ago 

First of all, I would like to say that the following are all based on my personal opinions and does not represent any investment advice. I am very new to the crytoworld and might make mistakes on judgement so it mainly for entertainment purpose.

Ethereum never fails to surprise me with all their developments and projects. As more companies are jumping into EVM I believe that one day in the not so near future I will be able to realize my dream of buying my house with eth. I m totally convince that eth will be bigger than bitcoin in future. Many reasons lead to my belief.

Bitcoin has not seen any major upgrades since it started. It is getting slower and transaction are rising. In contrast eth is so much faster and less costly to transact. There are also many altcoins that are fast and less costly but because the "smart contract" funtion in eth I think that it will eventually takeover bitcoin to be the largest crytocurrency. I used to like holding on to bitcoins but recently, I decided to give up all my bitcoins for ether and I never regret it ever since.

Bitcoin recent debates on Segwit and BU has split the community into different groups and this is not healthy for bitcoin. Everyone has their own agenda and no matter who wins in the end i feel that bitcoin value will suffer. Ethereum, however, has gained a lot of support from many big corporations during this same period of time. I bet most of you heard of the Ethereum Enterprise Alliance which includes big companies like Morgan Stanley, Microsoft, Intel and blah blah blah. Rumors is more big companies are actually joining this alliance to develop onto the ethereum platform and its a matter of time a "killer DAPP" will emerged on EVM and all the spotlight will be on ethereum.
enterprise-ethereum-alliance-3-728x439.jpg
Bitcoin is mainly use as a base currency in the crytoworld because of its dominance and because its the first or ancestor of crytocurrency. However being first now does not mean it will be first forever. In this fast and ever changing world, we must always "upgrade and improve" to survive or excel. Being the same is asking to be replaced. Especially in the crytoworld everything is in hyper speed. How many of you remember friendster and myspace and what exactly happen to them? If bitcoin remains the same, I believe it will suffer the same fate.

After the recent rise in transaction fees and slow transaction time of bitcoin, I feel that the main reason why I buy bitcoin is only because I can exchange them for other altcoins. The other reason which is debatable is to store value in long term because when you hoard bitcoins you wont incur any fees. Bitcoin's main function is transfer of value and thats all. If transaction fees are so high and transaction time is so slow, why would people still want to continue using Bitcoin? As for ethereum, it not only provides faster transaction time and lower transaction fees, it also has "smart contracts" functions. This open up to a whole new world of possibilities. Ethereum can be anything. It feels like the Apple app store 10 years ago. You can basically build anything on Ethereum which I believe will be world changing. Dont believe me? Look at most of the recent ICO and see which platform they are using? There is a reason why so many new ICO are using ethereum.
Beautiful_House_In_Brentwood_by_Belzberg_Architects_Group_on_world_of_architecture_01.jpg
There are so many reasons why ethereum is better than bitcoin but I m just a newbie and there is a limit from what I know. I really hope and wish for the success of ethereum and I strongly believe that I will eventually pay for my new house with ether.
Thanks for reading and I hope it is entertaining to you.

Ps: Sorry to hardcore bitcoin fans.

The world is slowly waking up and one day ethereum will gain major acceptance throughout the world.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Now imagine being able to print that house.....for free...

I understand many of your thoughts about Ethereum and Bitcoin; this could eventually happen, the bitcoin exchange rates to get lower and the Ethereum to go up.
To me it depends in the number and importance of the companies which start receiving either BTC or ETH.

Today a lot of Japanese stores and companies started receiving BTC as payment for their services or products. this is a huge advance for BTC to get a daily use, which (to me) is the only thing missing.

But bitcoin used to be fast and transaction fees are low. I saw the news that japan gov is starting to recognize btc as a mode of payment recently. However i still feel that btc can only be use to pay BIG purchase that is not time sensitive and cannot be use to pay simple things like a cup of coffee. Eth is also gaining acceptance as mode of payment gradually. I saw this news a few minutes ago about ethereum regarding use for payment.
https://www.google.com.sg/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=1&cad=rja&uact=8&ved=0ahUKEwitsPiZyY3TAhVHp48KHQ3IDpYQqQIIGCgAMAA&url=http%3A%2F%2Fwww.newsbtc.com%2F2017%2F04%2F04%2Fliving-room-satoshi-users-can-pay-bills-ethereum%2F&usg=AFQjCNEsNAE4n6sg7G1El0jFN8zhvgdNCA

Congratulation on your gains! I'm curious, what price did you buy in at and sell at?

I agree that ETH has a solid shot at passing BTC eventually. What are your thoughts on other altcoins? Don't you think they rely on the success of bitcoin to also have success? If bitcoin were to drop, I imagine almost all other coins would too.