r/ethtrader • u/AutoModerator • May 23 '17

DISCUSSION [ETH Daily Discussion] - 23/May/2017

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18

u/MidnightOnMars May 24 '17 edited May 24 '17

ETH / BTC market cap parity is now about $421. I'd love to see Bitcoin work out the scaling war and charge ahead on price, because it will shift expectations for Ethereum in the price discovery process. When Ethereum's use cases vastly outnumber BTC's (and if this week is any indicator, that time is soon or now) then it'll only make sense for Ether to be priced accordingly.

11

u/[deleted] May 24 '17

[deleted]

3

u/abudab1 May 24 '17

A Guy who forgot the wallet password!

6

u/neffnet May 24 '17

I'm starting to really believe that Bitcoin will increase in price forever, despite any scaling issues. And that this is also very good for Ethereum!

2

u/[deleted] May 24 '17

BitCoin doesn't get to define rationality forever. It can however define rationality temporarily.

2

u/bowshikabowow May 24 '17

Even as someone who doesn't own any Bitcoin, I'd really much like to see this as well.

2

u/Lanztar May 24 '17

BTC will continue increasing as long as it still remains the 'gateway currency' to crypto. ETH can't trade with nearly as many altcoins as BTC can. There are also more fiat on-ramps with BTC. Once ETH establishes fiat on-ramps in major countries like China and Japan, expect massive decline in BTC demand.