Has Bitcoin Seen It's Days and Other Coins Become Leaders?
When you talk to anyone about crypto the first thing that comes to their mind is Bitcoin. Bitcoins biggest advantage right now and always has been is that crypto = bitcoin. Crypto does not = ethereum or any other token or cryptocurrency to a large portion of the population.
It's because of this Bitcoin has held so much value and is the entry point for many people. However at some point that old tech is going to be replaced by something better. To me that something better as of right now is ETH or Ethereum.
A cryptocurrency that continues to improve it's tech and put in work. It also has so many implications as to people using tokens now on the system such as Uniswap which has seen a 80% increase in just the last 7 days!
I believe this including the launch of defi and earning interst on your crypto is fueling a new altcoin gold rush. Ethereum once produced this back in 2017 as well. Which makes me feel Ethereum at least for the short term future is going to get a lot of attention and a lot of new projects will be popping up.
With those new ventures however just be aware with it will come scam website after scam website. Be sure you always hold on to your tokens and crypto yourself and it's not sitting on some exchange somewhere. If you don't have the wallet keys to access that crypto you simply don't own it and that company/person can cut and run at any point!
What exactly is Uniswap?
It was launched back in 2018 however only saw major traction as of the last few months as Defi and more projects launched on the Ethereum network.
It is a decentralized cryptocurrency exchange which facilitate automated transactions between crypto currency tokens on the Ethereum blockchain and uses smart contracts.
It should go without saying, anyone can create a token so be careful of what you buy and also be sure to look out for ones that try to misslead you with close names.
The only thing I would look out for however is a clam down on this exchange. I'm not sure how fully decentralized it really is but when big bucks start being thrown around you can be sure the FTC and governments will start stepping in.
All in all however I feel like Bitcoin will soon be seeing it's days. It old outdated tech and there are much better options on the table. I don't see any new changes coming to it anytime soon besides it "being a store of value" but even that I feel will start catching up to it quickly. For now its a way to get into crypto and then buy any other token or crypto you could want.
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https://twitter.com/bitcoinflood/status/1354521280431742980
So what you actually mean is that Etheruem would soon take over bitcoin or what?
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Eventually yes, but not for another few years once people get out of their heads crypto is just bitcoin which 80% of the population thinks at the moment. There are far better chains, lower fees, more user capability.
Oh that would be lovely then!
Valid claims, and with the recent fluctuations, it becomes all the more plausible...it remains to be seen, tho I think it unlikely that the bitcoin would be entirely toppled, yes other crypto currencies may gain grave relevance, it just seems unlikely..but what do I know..
Nice post.
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