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by MuffinFlavored 1226 days ago
Cryptocurrency as a whole isn't going to make it or specifically Bitcoin as the "leader"/top dog in the coin? Is Ethereum showing any metrics of growth/cannibilzing into Bitcoin's lead? When is it projected that Ethereum will lead and Bitcoin will be secondary?

According to https://coinmarketcap.com/

ETH market cap: $205,472,110,461

BTC market cap: $451,416,778,093

Not as far off as I would've though to be honest.

https://ycharts.com/indicators/ethereum_market_cap

https://ycharts.com/indicators/bitcoin_market_cap

At a quick glance I don't see any period in the past 5 years on those charts where Ethereum isn't at least 2:1 behind BTC so... is it really "growing" or just basically pegged against BTC?
2 comments
sschueller 1226 days ago
At least ethereum is continously improving like moving to PoS while bitcoin is stuck in the past without any utility except payments which it's really bad at.

Sure ethereum yet has to show usability as well but it has a much better chance of this than bitcoin.

Bitcoin also has such a large amount of its coins in Satoshi's control that if he ever shows up and moves them or someone else is able to do it, it will probably crash the whole thing.

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sunshinerag 1226 days ago
Not moving to PoS is good for bitcoin. PoS is a totally different model with different tradeoffs, not everything has to move to it.

For payments on Bitcoin, it is rocking with lightning. Time to catch up on that subject.

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MichaelVangard 1225 days ago
How is POS an improvement?
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ashwagary 1225 days ago
>Not as far off as I would've though to be honest.

Market cap is a mostly useless vanity metric in the crypto world, I don't recommend relying on it for forecasts.

>is it really "growing" or just basically pegged against BTC?

The massive BTC/ETH liquidity pairing pegs them to each other where price is concerned.

This cycle, a large percentage of Bitcoin's steam was cannibalized by custodial entities like FTX and Celsius stealing money from Bitcoin onboards and redirecting it to yield farms and leveraged trading on the ETH chain.

I would be careful about extrapolating too much from data produced during a sabotaged BTC cycle.

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