Bitcoin Vs Ethereum Vs Litecoin in 2017
Oooooh boy, the Bitcoin Vs Ethereum Vs Litecoin is going to change over time. In August 2018, come back and take a look at this article to see what we got right and wrong. Will you be paying your tax bill in bitcoin next year…probably not, but I am not willing to rule it out. Will Ethereum have outpaced bitcoin, or will it have died off as the cryptocurrency of criminals. Will Litecoin take its place as the currency we use in shops, or will you be taking loans out with Litecoin instead?
Bitcoin – Bitcoin Vs Ethereum Vs Litecoin
Bitcoin has been adopted by Japan as a legitimate currency. This means there will come a time when people are able to pay their taxes with bitcoin. The upward surge in August is partly due to the news coming from Japan. It is partly due to the fact that people thought the bitcoin bubble would burst when it reached $3000 per bitcoin, and yet it is still rising.
Finally, quite a few amateur investors have started to invest in bitcoin, which has powered its surge. However, amateur investors are going to be the first to pull out when things look rough, which is going to create a bubble burst where maybe it wouldn’t have happened if the price of bitcoin had risen in a more organic/smooth manner.
Transaction times are going to drop significantly over time, which is going to help increase the use of bitcoin. Of all the cryptocurrencies, it is the one that is most likely to become a mainstream currency. It is going to allow people to store their wealth in a place where they do not have to rely on banks and governments.
Ethereum – Bitcoin Vs Ethereum Vs Litecoin
There is no hard cap to Ethereum, which means the early miners do not hold all the power. The transaction time is also very fast, which means it may be used as a legitimate currency one day where you walk into a store and buy something with Ethereum or an Ethereum token. Is Ethereum something that our country’s economy is going to be able to handle? Or, is it just another place for hopeful suckers to plunge all their money before it disappears into the night.?
That is probably a go-nowhere question (unless I am psychic and people are kicking themselves in 20 years when Ethereum is no more), so here is a better one. What happens when ICO cryptocurrencies (Ethereum tokens) go to zero? We here at eCheck.org have been putting quite a bit of money into Ethereum tokens because we believe some of them will be the next big thing. What happens to Ethereum (the highly programmable brother to the highly unprogrammable bitcoin) when its Ethereum tokens suddenly become worthless? Many of us here will be kicking holes in things.
One could argue that something such as Litecoin has a better chance of filling a need than Ethereum. Yet, there is a niggling feeling in the back of my genius head that says some countries are not going to adopt bitcoin as a second currency, but will instead adopt an Ethereum token.
For example, we already know that bitcoin could work wonders for people in Africa and the Middle East where honest workers are unable to trust banks. Yet, I have a hard time seeing their governments agreeing to having a cryptocurrency (including any Ethereum token) become a mainstream currency. Yet, I look at Greece and its financial trouble, and I wonder if their government may consider an Ethereum token as a second currency so that people have a little more freedom with their money than maybe their crumbling banks will allow. Greek governments wouldn’t care about angry reprisals from banks (because why would they at this stage), and Greece’s tax collectors are smart enough to examine people’s use of Ethereum tokens to see if anybody is tax dodging.
Litecoin – Bitcoin Vs Ethereum Vs Litecoin
Litecoin’s biggest selling point has always been how quickly transactions occur, which is fair enough, but there is a good chance that bitcoin and Ethereum are going to be transacted more quickly as time goes by. Where is Litecoin going to go when its biggest selling point is dead? I wouldn’t like to guess because history keeps proving that the underdog sometimes comes back.
Litecoin could be the friendlier and more scaleable version of Bitcoin. Is there a chance that the same thing that kills bitcoin (such as quantum computing*) will also kill Litecoin? Yet, if we are talking in such possibilities, then maybe bitcoin will become a mainstream currency because a US banks have been bombed by North Korea. Litecoin needs to find a need, and it needs to meet that need. I am seeing bitcoin meet the needs of African and Middle Eastern people who cannot trust their banks. Litecoin needs to meet a need, or logic suggests that it will die. Will it find a need? I don’t know, but I think I will be surprised if it doesn’t.
*Quantum computing is all I need (insert sarcasm in voice), where a virus has spread so quickly in my quantum computer that it is loaded and active before the nerve signal from my finger to my brain has arrived telling me I have accidentally clicked a malicious link.
Conclusion – Do Bubbles Always Burst?
Does that mean that the college debt bubble is going to burst? Will the housing market bubble pop again? What about credit card debt, where is the pop?
Bitcoin, Ethereum, Ripple and Litecoin (BERL) has a market cap of $109 billion. That is what a bubble looks like. But, I am having a hard time thinking this bubble is going to burst, and if it does, then it is going to be a long way away.
I keep hearing strangers talk about cryptocurrency in one form or another, and that is what happens when you are in a bubble. However, I don’t think that this bubble is anything similar to the Internet bubble. I think we are dealing with something completely different.
I think that comparing the cryptocurrency bubble to the Internet bubble is like comparing the thriving car industry in Germany and Japan to the thriving information technology industry in the USA. Just because something attracts investment in a historically similar way to something else does not mean they will both suffer the same fate.
Is there a BERL bubble? Undeniably yes. Is it going to burst soon? Contrary to what almost everybody else thinks, I say no. In fact, if you believe history, then bubbles always burst far later than almost everybody thinks they do. Bubbles have a habit of bursting right as people stop talking about them bursting. Now, come back again in August 2025 and see how right I am.