1. There is no firm “upper cap” on Ethereum issuance, the schedule is 99 Million by 2025, 101 Million by 2128, and 104 Million by 5189.
2. Storage requirements for the barely 2-year crypto-currency will approach 1,024 GB inside a year. (By comparison, Bitcoin is 8.5 years old and uses 126 GB).
3. Ethereum mining supply is a huge overhang on the market. 26,205 ETH was mined in the last 24 hours compared to 1,838 BTC. This is approximately 14 times the rate, which must be absorbed by the Ethereum market every DAY to just maintain their current price.
4. Of the total ~92.4 Million ether in existence, 60 Million were pre-mined for the “presale” and another 12 Million are controlled by the select centralized group doing development. That represents 77% sitting in very few hands compared to the outstanding float.
For those reasons and more, including lack of technical competence, Ethereum has a lot of obstacles to overcome before they can start gloating about taking away Bitcoin’s market share.
I find it highly amusing that they are grasping at every possible metric to tout an achievement over Bitcoin.
Get back to me once you've run 8.5 years and have the notional value that Bitcoin has.
Topic: [2017-06-15] Ethereum Surpasses Bitcoin Google Searches for the First Time (Read 2714 times)
June 15, 2017, 07:51:30 AM
June 15, 2017, 07:47:23 AM
Well it looks like ETH will overtook bitcoin until the high transaction fee can be resolved. That is why investors are moving to Ethereum now. Currently, bitcoin is crashing, I don't know if investors are loosing faith on bitcoin. I still think that Ethereum has already surpassed bitcoin now. ICO's and Crowdsale of some new coins are also offering ETH as form of investment.
June 15, 2017, 04:52:27 AM
Ethereum Surpasses Bitcoin Google Searches for the First Time in History
On June 10, Google searches for Ethereum briefly overtook those of Bitcoin, another sign that a market shift may now be taking place.
For months, traders have been witnessing the slow rise of Ethereum in the cryptocurrency market. Just four months ago, Bitcoin claimed roughly 90% of the cryptocurrency market share. It has since tumbled to nearly half of that. In the meantime, Ethereum’s stake has climbed to just under 30%, more than quadruple its previous value.
http://bitcoinist.com/ethereum-surpasses-bitcoin-google-searches-first-time/
On June 10, Google searches for Ethereum briefly overtook those of Bitcoin, another sign that a market shift may now be taking place.
For months, traders have been witnessing the slow rise of Ethereum in the cryptocurrency market. Just four months ago, Bitcoin claimed roughly 90% of the cryptocurrency market share. It has since tumbled to nearly half of that. In the meantime, Ethereum’s stake has climbed to just under 30%, more than quadruple its previous value.
http://bitcoinist.com/ethereum-surpasses-bitcoin-google-searches-first-time/
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