Shocking! Typical $500 transaction costs $0.04 in fees!! This burden will sink bitcoin.
Typical BTC $0.01 transaction costs $0.04 in fees!!
Typical $500 real money transaction: costs $0.00 in fees!!
Typical ETH transaction: costs $0.00 in fees!!
Eth isn't really meant for value transfer, but smart contracts and dao and whatever. But eth was born like 5 years before any of this is useful.
Maybe in 5 years time they'll realize how inefficient their whole platform is.
"Inefficient"? Does ETH need to burn as much electricity as a small country to simply *exist*? A bitcoiner talking about efficiency
Get over this idea in which you suggest that BTC is wasting energy in a process that secures value, preserves the historical record and mines bitcoin. It's a small price to pay for the overall value achieved in creating such a paradigm shifting and transformative value transmission and storage, amongst other developing applications.
Yes, ETH has a few problems, and just one of them is that it is efficient because there are small number of people controlling it's direction and pumping various aspects of it's "efficiency" that comes at a cost to security, immutability and just having targets on the back of people who are controlling it and may well get prosecuted for their innovative pumping manipulations. Since there has been a lot of money pouring into ETH, it is very likely that there are going to be a variety of innovations in which bitcoin and other crypto currencies are going to be able to both learn from and to profit from some of the ETH "innovations."
Yeah, possibly ETH could experience another 4x pump or maybe even more, but fundamental flaws exist in the model exist that are likely going to cause very incredible difficulties for it to retain value once a cascading of dumps begin to occur.,. I will be quite surprised if a cascading of dumps does not occur within the next few months, but I don't have time and energy to invest any of my own bets into ETH's price direction because really I cannot in any meaningful way know the minds and/or level of resources that some big interested capital may want to play the irrational ETH pump to cause it to be pumped passed any imaginable reasonable level (and there are a lot of folks who would be able to make such manipulations of ETH with a relatively small amount of capital)