Apr. 28, 202; Markets Insider
"We think bitcoin is overrated. We think bitcoin had the first-mover advantage. But in terms of long-term technology, we think ethereum will surpass bitcoin …" - Ian Balina, founder and CEO of Token Metrics, a data-driven investment research platform for crypto
"The utility will ultimately trump a store of value asset, but I think that's a little bit away. We do have bitcoin to thank for being the first to spark interest. But on etherum there's a lot of development - DeFi and NFT." - John Wu, President of Ava labs, the team behind altcoin Avalanche
"The usual [fear, uncertainty, and doubt] can come out of nowhere and hammer down the crypto class as a whole, but some assets will be able to de-couple from the downside simply because the market participants don't care or see the current news having a long-term impact, likely due to their faith in the underlying technology."Justin Chuh, senior trader at Wave Financial, a regulated digital asset investment manager
Read more at Markets Insider: 3 analysts explain why ether will surpass bitcoin as the leading cryptocurrency
Do you agree with Ian, John, and Justin?
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I am not skeptic about Bitcoin, but optimistic about Ether's long journey. Because:
On the other hand, Bitcoin is still struggling to define its utility from being a potential currency to a store of value.
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For more than a decade, betting against bitcoin has pretty-much always been a bad idea, but that doesn't mean another product won't replace it as the premier crypto product. Bitcoin can continue to grow, even if other platforms grow more. I actually think that newer designs with lower fees and faster speeds will eventually move ahead of both Bitcoin and Ethereum.
Bitcoin's solution to fees and speeds is the lightning network, but I've never been a fan of that. To me, it seems like a kludgy way to solve the problem, when all they had to do was increase the block size. With it's high security, I don't see Bitcoin going away, but there are just too many use cases that it can't fulfill (without the lightning network).
For Ethereum, I guess we have to wait and see what comes with the recent proof of stake roll-out. If that works out well, it still might stay near the lead of the pack.
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I agree that newer designs that address issues in speed and fees seem like they would move ahead, but there is a lot to be said for name recognition alone. And maybe right now, it depends on who's in the game; what the user profiles are and how much influence they bring into the ecosystem must have an impact on which technology advances at any given time.
I do wonder, though, if crypto markets will have more back and forth than traditional markets, or a more even or broader distribution of market leadership—i.e. more entities neck-and-neck for longer periods of time in terms of market saturation, etc.
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