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RE: Bitcoin Falters as #1 Gateway Crypto and a Challenger Emerges
With Bitcoin fees rising, the Ethereum network getting congested due to digital felines, and Ripple overtaking Ether as #2, it might not be long until Ripple takes over as the primary gateway crypto. Thoughts?
This is a good question and I am aware that Ripple has actually just overtaken Ethereum for Market Cap to become #2. It's kind of a big deal.
But when I looked around some of the exchanges I didn't see a lot of Ripple trading pairs. That's why I think ETH is going to be the one chosen by the market as the new #1 Gateway Crypto.
That makes sense. And I think you're right, at least for the short-term. Bitcoin hasn't done much to address the issues which is catching up to them. It was designed to be a currency and because of its issues can't be used effectively as a currency. If Ethereum can get it's congestion issues sorted out, you're probably right that it could overtake BTC.
I think the Crypto Kitty fad has died down a bit now so fees are reasonable currently. They do still need to scale better but are already well on their way to being able to handle more than Bitcoin and that's all they need to do to get the #1 job right now.
It would make sense for it to have died down. It was basically some form of a pyramid scheme. Everything about it relied on getting more people involved. They also charged fees on every action and the assets decayed with each action.
And yes, Ethereum doesn't need to outrun the bear...just Bitcoin. Ha ha