Here's Why Ethereum Is a Better Bet, Says Reddit Cofounder

[bbc.reporter]

Alexis Ohanian might have overestimated Ethereum's ability to to be a platform for decentralized applications. Status' ICO and the more famous Cryptokitties have shown that it endures the same problems as bitcoin because block space is limited.

Is he only saying what he wants to see because he is speculating on ETH, or does he really believe in it? He must have seen Ethereum's limitations by now. Over 100 ICOs done and no real working product except for the Cryptokitties hehehe.



While Bitcoin may be the poster child of cryptocurrencies, Reddit co-founder Alexis Ohanian thinks the second most valuable cryptocurrency by market capitalization, Ethereum, will be the real winner.

“I’m most bullish about Ethereum simply because people are actually building on it,” Ohanian told Fortune’s Term Sheet Tuesday. Ohanian has stepped back from Reddit’s day-to-day operations and now invests in firms including Coinbase via his venture capital firm, Initialized Capital.

Because developers have found it challenging to create applications based on the Bitcoin blockchain, finding Ethereum more flexible, Ohanian says he sees the price of Ethereum rising faster than the price of Bitcoin this year.

His prediction: While the price of Bitcoin will more than double by the end of the year, regaining it’s all-time high of $20,000, Ethereum will reach 21 times its current value — hitting $15,000 by the end of 2018. Bitcoin now stands at about $9,100, while Ethereum is valued at about $690.

Read the whole article http://fortune.com/2018/05/02/bitcoin-ethereum-price-reddit-alexis-ohanian/

[snapee11]

Yeah I was also thinking about this cause almost all ICOs are Etherium-based platform. The only thing that bitcoin is at the top is because bitcoin is the oldest.
Am I right?

[bbc.reporter]

@snapee11. No bitcoin is at the top because it is the most used and most widely accepted cryptocoin in the world. It is also the safest and the most secure to use. One confirmation for a bitcoin transaction would be enough, others need more to be considered safe.

[smyslov]

Since I am both a holder of both coins I will be very happy if they reach to that price level, they both have the same strong sides and the weak sides are not relevant and can be fixed at the course of time, I'm happy that both coins are now having a field day and the bull trend continues.

[Milansilver7]

I agree with you that many Ethereum-based ICOs, I sometimes feel confused, why it's so hard to find ICOs based on Bitcoin or other altcoins, like Ripple, Neo and waves, is it because the Bitcoin price is too expensive and is it due to the limited amount of Bitcoin?

[Endikadija]

@snapee11. No bitcoin is at the top because it is the most used and most widely accepted cryptocoin in the world. It is also the safest and the most secure to use. One confirmation for a bitcoin transaction would be enough, others need more to be considered safe.

Every blockchain has its own specifications, remember if we are trying to send any ether to another wallet and it takes only a single confirmation. The only problem is exchange sites need more confirmation to consider it as a secure transaction.
but another news from ethereum foundation https://blog.ethereum.org/2018/05/02/announcing-may-2018-cohort-ef-grants/
This looks good because ethereum foundation tries to search any potential from its own community.

[bbc.reporter]

@snapee11. No bitcoin is at the top because it is the most used and most widely accepted cryptocoin in the world. It is also the safest and the most secure to use. One confirmation for a bitcoin transaction would be enough, others need more to be considered safe.

Every blockchain has its own specifications, remember if we are trying to send any ether to another wallet and it takes only a single confirmation. The only problem is exchange sites need more confirmation to consider it as a secure transaction.
but another news from ethereum foundation https://blog.ethereum.org/2018/05/02/announcing-may-2018-cohort-ef-grants/
This looks good because ethereum foundation tries to search any potential from its own community.

No it is not about a blockchain's specification. It is about how much hashrate a cryptocoin has. If it is higher, then naturally it is more secure because it would make an attacker spend more to attack the blockchain, than the potential reward for attacking. Smaller hashrate coins are less secure and takes less to attack. Therefore more confirmations are needed.

[Yuuto]

I honestly do not know if he genuinely believes in it, or if he is just saying the stuff that he said for the sake of increasing the value of ETH that is already on his hands by using his publicity. Either way, doesn't really matter.

To me, BTC will always be the better long term bet. ETH will be eclipsed by newer technologies just like LTC did, and as you said, we haven't seen any real uses of the ETH platform apart from its ERC20 tokens that is used to flood the forum with airdrops, a game involving cats, and hundreds and thousands of ICOs. At least in my opinion bitcoin is the more practical and long term crypto, compared to ETH. We only really need a decentralized currency.

But let's just say that even if ETH is the better long term bet, $15k by the end of the year is just absurd. Even BTC right now needs to climb more than 50% to reach that, let alone Ethereum.

[zidanaltaer]

I am happy to read this news and feel more confident with the future and the growth of ethereum price, I still have some ethereum that I will save up to penetrate $ 2,000 or more per token

[Tankdestroyer]

Is he only saying what he wants to see because he is speculating on ETH, or does he really believe in it?

He is merely saying what he wants to see. Furthermore, he's saying that ethereum is a better bet probably because he is heavily invested into it and he wants to see it's price rise. Therefore as a well known person, all he needs to do is to spread FOMO to bait newbies and those who believes in him to buy ETH. (This is purely based on my opinion, nothing more since financial experts do this often).

[cryptorTUX]

I agree with you that many Ethereum-based ICOs, I sometimes feel confused, why it's so hard to find ICOs based on Bitcoin or other altcoins, like Ripple, Neo and waves, is it because the Bitcoin price is too expensive and is it due to the limited amount of Bitcoin?

You can't find ICOs that are happening on the bitcoin, because so far you don't have the ability to write smart contracts as you have the ability on the ethereum blockchain.  Neo has its own ICOs but ethereum is still one of the most dominant out there by being one of the first where people started lunching their tokens. So really now you have ethereum platform where many things are done in the background with huge number of developers working and building the infrastructure. And honestly it became somewhat the standard way you will go there to lunch tokens.

[bbc.reporter]

I honestly do not know if he genuinely believes in it, or if he is just saying the stuff that he said for the sake of increasing the value of ETH that is already on his hands by using his publicity. Either way, doesn't really matter.

To me, BTC will always be the better long term bet. ETH will be eclipsed by newer technologies just like LTC did, and as you said, we haven't seen any real uses of the ETH platform apart from its ERC20 tokens that is used to flood the forum with airdrops, a game involving cats, and hundreds and thousands of ICOs. At least in my opinion bitcoin is the more practical and long term crypto, compared to ETH. We only really need a decentralized currency.

But let's just say that even if ETH is the better long term bet, $15k by the end of the year is just absurd. Even BTC right now needs to climb more than 50% to reach that, let alone Ethereum.

If he truly believes it then he is incompetent and blind. But if he is doing it only for the sake of increasing value then he is trying to scam everyone.

Also, it should matter. The community has already taken more than enough from their scams and criminal behavior.

[X - Mas]

so, this is why a lot of people said ethereum will rise and hit about $15000 in this year
because of an opinion from reddit co founder
but, i think this just another hype in ethereum
personally i think $15000 is unrealistic price for eth in this year

[Hueristic]

@snapee11. No bitcoin is at the top because it is the most used and most widely accepted cryptocoin in the world. It is also the safest and the most secure to use. One confirmation for a bitcoin transaction would be enough, others need more to be considered safe.

Lets not forget that BTC is immutable and ETH is, well ...

[Osiris0]

Intresting information, thanks, and his words are proving my predictions as well   Seriously, I think that all these speculations doesn't change the truth - there is only 1 platform that has changed crypto radically and gave a chance to evolve - it is ETH. And hopefully Buterin will announce the consensus soon. But this trump will be released after the first difficulties in EOS, as I see it...

[bbc.reporter]

@snapee11. No bitcoin is at the top because it is the most used and most widely accepted cryptocoin in the world. It is also the safest and the most secure to use. One confirmation for a bitcoin transaction would be enough, others need more to be considered safe.

Lets not forget that BTC is immutable and ETH is, well ...

Yes. The DAO debacle was a good lesson where everyone learned about hard forks, cryptocoin governance and the community. I reckon the Ethereum Foundation will not be making the same mistake twice hehehe.