Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a...
by panarky on Thursday February 23, 2017 @03:16PM
(#13717347)
This was the thinking in the heyday of the DAO [1], when you could get 30 ETH per BTC.
Now that Ethereum's weaknesses have been exposed, the exchange rate has stabilized at about 90 ETH per BTC [2].
Mr. Market says Ethereum has lost nearly two-thirds of its value compared to Bitcoin.
There will be many cryptocurrencies with different capabilities alongside off-chain vehicles with other interesting and useful capabilities.
Maybe Bitcoin is the slow, steady, reliable, non-inflationary and boring reserve currency that is a long-term store of value and a safe harbor during stormy weather.
Perhaps Bitcoin isn't judged by whether people use it to pay for their dry cleaning, but as the backbone of a new digital economic system.
Now that Ethereum's weaknesses have been exposed, the exchange rate has stabilized at about 90 ETH per BTC [2].
Mr. Market says Ethereum has lost nearly two-thirds of its value compared to Bitcoin.
There will be many cryptocurrencies with different capabilities alongside off-chain vehicles with other interesting and useful capabilities.
Maybe Bitcoin is the slow, steady, reliable, non-inflationary and boring reserve currency that is a long-term store of value and a safe harbor during stormy weather.
Perhaps Bitcoin isn't judged by whether people use it to pay for their dry cleaning, but as the backbone of a new digital economic system.
[1] http://www.coindesk.com/understanding-dao-hack-journalists/
[2] https://cryptowat.ch/kraken/ethbtc/3d