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comment by joelthelion
joelthelion  ·  3181 days ago  ·  link  ·    ·  parent  ·  post: Bitcoin's mempool is over 20 MB

I really wonder where bitcoin is going:

- The community is divided over the block size issue

- One of bitcoin's biggest forums, the bitcoin subreddit, exploded due to censorship issues, making community division even worse

- Gavin Andressen, one of the only really trusted bitcoin developers, lost a lot of credibility when he announced Craig Wright was Satoshi

- The halving is due in less than a month

All in all an extremely complex situation, I find it hard to foresee anything at all in this mess. Maybe at least hubski could be a good reddit replacement for discussing bitcoin?





mk  ·  3181 days ago  ·  link  ·  

I think it only now has a shot as digital gold. That might just happen, but I think it's unlikely. I expect that Ethereum will surpass Bitcoin's marketcap eventually, and that will diminish its potential.

querx  ·  3181 days ago  ·  link  ·  

Me too. Sideways, ETH is currently being sold (at least officially) via BTC. So a collapse of the BTC system, where we're heading since a longer period of time, would significantly impact Ethereum's use, development and deployment - and that isn't that good.

Maybe we should create a new cryptocurrency - DAO makes it easy [[UPDATE: to lose your money]] ...

Oh, DAO is ETH based, ETH is BTC based, it follows: all DAO-related currencies are BTC dependent in the current stage.

Ethereum should become independent (if it wants to survive) but not take over the role of Bitcoin. It wasn't intended for it in the first place.

mk  ·  3181 days ago  ·  link  ·  

    Sideways, ETH is currently being sold (at least officially) via BTC

I think this was true for several months, but increasingly less so. I know a few people that just went fiat to ETH, and the big exchanges support it.

As both ETH and BTC rose over the last several days, I think it's evidence that they are less inversely correlated than before.