I see a lot of ethereum fudding going on. I think people just want to make a killing buying in on the dip so they make it sound like all it lost. If the current congestion means ethereum is worthless then so is bitcoin.
BTC and ETH are not even in the same neighborhood. If any coin is overvalued during this crazy crypto pump across all coins, the winner is surely ETH.
Realistically speaking it
should not be valued for as much as it does.
Based on what? The fact that its risen so fast? Its a fact that a lot of ethereum is now effectively locked up in various ICOs and the demand for ETH to pay gas fees is rising at an enormous pace. The demand for bitcoin however I feel is more speculative since you don't actually need it for anything, except maybe to buy altcoins on exchanges.
ETH is merely got so much hype due to most of the ICO are going with their platform but no one knows that ETH is controlled by the developer and so can do anything, that is the reason this time we care seeing dump in ETH but it was expected long back, and we can see more down if their is no real support. But in bitcoin you are telling that it is used for buying altcoins then i think you have not used bitcoin for other uses like gambling, in casinos and sports betting, purchase goods online. if your country is accepting bitcoins then you can do much more activity
Bitcoin can be used for gambling and purchasing goods but it isn't required for those purposes. Ethereum can also be used for gambling and purchasing goods and I don't see any technical reason why bitcoin would be able to perform that function better than cash or ETH. The only thing you currently NEED bitcoin for is purchasing alts, and to some extent purchasing black market goods. ETH on the other hand is NEEDED for most ICOs which creates a much bigger real demand, of course there is a big speculative value to it but in my opinion less so than bitcoin.
I see a lot of ethereum fudding going on. I think people just want to make a killing buying in on the dip so they make it sound like all it lost. If the current congestion means ethereum is worthless then so is bitcoin.
BTC and ETH are not even in the same neighborhood. If any coin is overvalued during this crazy crypto pump across all coins, the winner is surely ETH.
Realistically speaking it
should not be valued for as much as it does.
The fact that its risen so fast?
Its a fact that a lot of ethereum is now effectively locked up in various ICOs and the demand for ETH to pay gas fees is rising at an enormous pace. The demand for bitcoin however I feel is more speculative since you don't actually need it for anything, except maybe to buy altcoins on exchanges.
You answered your own question. ETH is like the the new walletbuilders; allowing dumb people to easily create their own scams but with ICOs instead of premines.
"The demand for bitcoin however I feel is more speculative since you don't actually need it for anything, except maybe to buy altcoins on exchanges."
I was about to call you a lot of names but then I checked and your account is barely older than 3 months.
I pay in Bitcoin for almost everything I buy online, it's the
gold standard except it's actually more valuable and more useful. Claiming otherwise makes you look like a fool and makes me think why anyone would even care to tell you this...
Again you CAN pay for almost everything in bitcoin but you don't NEED it. To illustrate an example would you say an average person has an advantage in deposing fiat to an exchange to buy bitcoin then using said bitcoin to buy a computer game? IMO there is no reason any rational person would do that.
