TL; DR
Full story
Okay, listen to us.
Considering we just wrote about how the ease of use/low cost of smart wallets will take the Ethereum ecosystem to the next level, this feels relevant…
The gold market is worth 16 trillion, while the currency market is worth 2.4 trillion (2,400 trillion).
What does that have to do with crypto?
The current story of Bitcoin is that it is about to replace gold, while Ethereum is trying to become that, plus a global ‘money’.
Which seemed out of place to this day?
Call us crazy, but now Ethereum – thanks to the advent of smart wallets – has become the new contender for decentralized money.
Not because Bitcoin is a thing fewer valuable, but because it is so at valuable.
Why sell your Bitcoin if it keeps rising?
…but to be honest, Ethereum has more or less the same problem.
The difference is: ETH has stablecoins, while Bitcoin does not.
US stablecoins can now be traded on the ETH network at virtually no cost to consumers, via a smart wallet on Ethereum.
But despite no face ripping fees being added to basic transfers, the value of ETH still seems set to increase smoothly, thanks to smart wallets.
The same cannot be said for Bitcoin. At least not as a fee-generating asset – because Bitcoin accrues value mainly due to its scarcity.
…ok, now here’s the twist:
If BTC takes over even a fraction of ETH’s functions, it will likely surpass Ethereum simply based on the fact that it has more users.
Long story longer:
Right now it feels like there’s a race to see who can create and hold the most amount of “digital money” (it’s a real word, leave us alone).
Ethereum has the usability, while Bitcoin has the users.
Who is going to win? No idea 🤷