There is a lot of debate around what will happen to these amazing cryptocurrencies. Many crypto enthusiasts perpetuate the idea that BTC will be used much less in the future due to many of its drawbacks. Let’s take a look at some visible disadvantages of BTC in comparison with other e-currencies.
- Originally, altcoins were designed to correct the mistakes in performance of the breakthrough cryptocurrency – the bitcoin.
- Altcoins allow to make faster transactions that it is possible with BTC.
- Some altcoins (Ethereum) possess features that will be useful to humanity. Ethereum was designed to guide people in executing smart contracts and as a tool for app development.
- Cryptocurrencies that emerged after bitcoin are not finite in number.
- Altcoins do not require great electricity expenses as BTC does.
Ethereum Steps in the Game
While Ethereum was not considered to be bitcoin’s reval for a long time due to their differences, now Ethereum holds the second place in market capitalization, surely after Bitcoin. The token, Ether, is widely bought and sold on the cryptocurrency exchanges. Yet, many investors are to choose Ethereum for its promising technology, which is said to “codify, decentralize, secure and trade just about anything.” Ethereum technology gives hope to the third world countries and developing countries, where corruption could be overcome with the use of this technology. All in all, Ethereum does carry numerous positive features, which BTC is just the king.
- When mining Ethereum, you only need 14 seconds to get the block created. It is as much as 10 minutes for bitcoin.
- Not a few alternative coins are based on Ethereum technology.
- BTC is only for transacting money and Ethereum has got other “superpowers”.
- You cannot send bitcoin “quick.” Some people admit, they exchange BTC for ETH and only then make a transaction. Otherwise, you can wait for years.
- Unlike the creators of bitcoin no one knows are real, the Ethereum CEO is a public figure, which is also a big advantage.
Considering the opinions of cryptocurrency fans, the modest Ethereum has all chances to outstep BTC over time. The equal adoption of all currencies will leave people to decide for themselves which cryptocurrency to spend money on without fearing their low liquidity, etc. Nowadays, Ethereum already has five times as much units in circulation as bitcoin. So, there will be nothing surprising if in a couple of years BTC and ETH market caps equate. As a possibility, BTC can turn into a reserve cryptocurrency, to be something like gold to fiat money. People will not buy things with it but it will be used to keep money savings or as a means of other cryptocurrency backup.