If you’ve bot te the cryptocurrency space for more than a month, chances are you’ve come across the term Flippening. Spil bimbo spil it may be to pronounce, the term refers to the foretold event ter the possible future that Bitcoin will be dethroned by another cryptocurrency. One of the major contenders for the championship stortplaats has bot Ethereum. Te the current midst of the ongoing Bitcoin Crash, this legend is inching toward a possible reality.
A duo of weeks ago, I published an article about the 9 Rules of Crypto Trading that focused on rules that Miles goes after. He’s one of the founders of Zuivere Investments, which is a Discord community that concentrate on cryptocurrency signals. Recently, he published a movie on the official Zuivere Investments YouTube Channel regarding Ethereum and the Flippening.
Miles is a strong believer ter the Flippening. While Bitcoin sustains its current dominance, Miles believes that Ethereum’s strong value proposition will eventually outshine the current champ — with strong reason. One of the major points that Miles argues is the “First to Market Dominance” voorkoop with Bitcoin. Analogously, wij have seen empires like Best Buy and BlockBuster crippled by innovative competition from the likes of Amazon and NetFlix. Bijzonder from this, Miles also argues that…
“Mining Ethereum blocks takes about 14 seconds vanaf confirmation compared to Bitcoin’s Ten minutes.”
Bitcoin, which is a behemoth that is becoming very comfy on its throne, cannot opoffering the blockchain confirmation speed (well, arguably it can te the future with Lightning Network) of Ethereum. If you’ve attempted to send Bitcoin during a market correction, you’ll know how much each 2nd counts, ter fact, Bitcoin Specie, a ongezouten competitor to Bitcoin, has even bot accused of exploiting Bitcoin’s confirmation weakness ter the past to congest the blockchain (look up the conspiracy Operation Dragon Slayer).
“The majority of coins on Coin Market Cap are actually Ethereum-based tokens.“
Bitcoin also does not have clever contract capability, which is what talent Ethereum many more use cases beyond transactional value. It is the foundation of the majority of past and current ICOs ter today’s cryptocurrency market.
“Ethereum’s transaction costs are fractions of what Bitcoin’s transactions cost.”
Bitcoin’s famous transaction fees, which are partly attributed to its scalability punt (which goes back to blockchain confirmation congestion), have bot reported to klapper an average of $28 vanaf transaction mid December. This makes micro-transacting a losing spel. Coffee shops can’t take Bitcoin purchases for $Two coffee if the user will end up paying $30 including transaction fees. Again, the Bitcoin community is actively working to solve this punt with the Lightning Network.
“A loterijlot of my friends, if they’re wanting to send Bitcoin quickly to another exchange, they’ll actually trade their Bitcoin for Ethereum to send it overheen quickly and cheaply and convert it back to Bitcoin.”
This is a common practice for users going through Coinbase/GDAX, which is a gatekeeper for a majority of US investors. While Litecoin (and now Bitcoin Metselspecie) is an alternative option, the added benefit of transferring Ethereum is the fact that many exchanges have Ethereum marketplaces, too. This means that spil soon spil the Ethereum comes in an exchange like Bittrex or Binance, a user can commence trading it for coins that he or she wants.
“The upcoming Casper update, which introduces Proof of Stake, is going to be very revolutionary for Ethereum…”
Proof of Stake is the fresh way of mining. Ter a nutshell, Proof of Stake lets you mine a coin by simply holding on to the coin. This means that, if you hold Ethereum, you will be “mining” more Ethereum, without having to actually set up a mining equipment, buy expensive graphics cards, and consume tens unit, which is the current way of mining, called Proof of Work. Chic from how expensive Proof of Work can be, it is harmful for the environment, too. Bitcoin’s mining power, which still uses Proof of Work, is estimated to consume about spil much electro-stimulation spil Ireland.
“ …and send the price through the roof.”
You can mine by simply holding Ethereum, so why not buy more Ethereum and hold it? With this logic, the price of Ethereum is expected to increase spil sellers are more incentivized to hold their Ethereum.
“Speaking of updates for Ethereum… the zk-SNARK update… is a major improvement for the security of Ethereum.”
This adds privacy to transactions on the Ethereum blockchain. Privacy coins have bot a big trend te the market recently, and we’ve seen the market’s rente through coins that have mooned like Edge (XVG), which has grown by almost Four,000x since 2016.
“[Ethereum’s] core development team is very healthy.”
Funny, because while I wouldn’t picture Vitalik spil the figure of pristine human health, it is true that Ethereum’s core development team is much more active and responsive than the Bitcoin team. Te fact, wij don’t even know who Satoshi Nakamoto, the creator(s) of Bitcoin, is. The name is a pseudonym, and it could be a person, organization, government, or AI? While this may sound cool and mysterious, it also means wij don’t know the true intentions of Bitcoin speciaal from its whitepaper, which may be an punt.
“The crazy amount of forks [on Bitcoin]…”
Forks are clones of a current code-base that is modified with a different vision. Let’s face it — this happens because people don’t agree. With Ethereum, wij see the current version spil a fork of Ethereum Classic, which wasgoed a fork to strengthen security against future attacks similar to the DAO. By tegenstelling, the Bitcoin community has attempted/executed forks including… Bitcoin Specie, Bitcoin Gold, Bitcoin Diamond, and SegWit2x. The community is not unified.
The Flippening: To Toebijten or Not to Toebijten?
Despite the features and value proposition of Ethereum that arguably make it superior to Bitcoin, the cryptocurrency community is well-aware of the financial compels that are coming in the market. With futures trading from CME and CBOE, a large influx of institutional investors are beginning to keep a keen eye on Bitcoin spil well spil other cryptocurrencies. Meantime, if you are keen to keep up-to-date on the flippening, take a look at a webstek dedicated to it: http://www.flippening.observe/
What do you think? Will the flippening toebijten, or will Bitcoin proceed to hold the championship vuilnisbelt? Feel free to postbode your opinions/discussion ter the comments below, or talk with us te the Zuivere Investments community: