Weiss Ratings: Bitcoin Will Lose 50% of Its Market Share to Ethereum in 5 Years
HomeCryptocurrency NewsBitcoinist.com

Weiss Ratings: Bitcoin Will Lose 50% of Its Market Share to Ethereum in 5 Years

Weiss Ratings, a provider of market research and stock analysis on ETFs, mutual funds, cryptocurrency, banks, and insurance companies, made...

NYSE Operator’s New Bakkt Platform Beats Coinbase, Says Tom Lee
Bitcoin Core Developer Reveals ‘Critical’ Bug in Bitcoin Cash
Is Decentralization Really the End Goal?

Weiss Ratings, a provider of market research and stock analysis on ETFs, mutual funds, cryptocurrency, banks, and insurance companies, made a bold move saying that Ethereum will overtake 50% of Bitcoin’s market share in the next 5 years.


Bitcoin a “One Trick Pony”

Weiss Ratings came out swinging September 18, making a bold prediction that Bitcoin (BTC) 00 will lose half of its market share to Ethereum (ETH) 00 within five years.

Furthermore, the research provider referred to the world’s first and foremost cryptocurrency as a “one-trick pony”, arguing that Ethereum has superior blockchain technology and that the limit of its application is “sky itself.”

ETH currently stands at a market cap slightly upwards of $25 billion. It has lost over 82 percent of its value since January 2018. Bitcoin, on the other hand, stands at a market cap of $116 billion, which is roughly around 61 percent below January’s numbers.

Furthermore, Bitcoin has been single-handedly dominating the market, accounting for more than half of its entire capitalization. Bitcoin dominance is currently at 51 percent according to data from CoinMarketCap.

Apples and Oranges

Prices aside, comparing Bitcoin and Ethereum does seem rather questionable at best. As simple as it may be, looking at the very first sentence of both whitepapers reveals fundamental differences making them completely incomparable.

According to Bitcoin’s whitepaper, its concept is to be “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

Ethereum, on the other hand, aims “to create an alternative protocol for building decentralized applications, providing a different set of tradeoffs that we believe will be very useful for a large class of decentralized applications, with particular emphasis on situations where rapid development time, security for small and rarely used applications, and the ability of different applications to very efficiently interact, are important.”

Naturally, Weiss Ratings’ tweet caused a reaction on behalf of the community, with advocates of both cryptocurrencies flooding the comments.

Quickly after the first tweet, though, the research provider took a far softer approach, seemingly acknowledging the inappropriateness of its initial statement.

Painful Contradictions

What’s peculiar, though, is that Weiss Ratings is describing itself as the “nation’s leading provider of independent, unbiased, trusted ratings of stocks, mutual funds, cryptocurrencies, ETFs, and financial institutions.”

Not only are the above tweets painfully biased, but they are also in direct contradiction to the company’s previous position. Just a few days ago, on September 12, Weiss Ratings tweeted the following:

What do you think of Weiss Ratings’ position on Bitcoin and Ethereum? Don’t hesitate to let us know in the comments below?


Images courtesy of Twitter, Shutterstock

The post Weiss Ratings: Bitcoin Will Lose 50% of Its Market Share to Ethereum in 5 Years appeared first on Bitcoinist.com.



from Bitcoinist.com https://ift.tt/2MW0xzA
Name

Bitcoin News,5117,Bitcoinist.com,4741,Cryptocurrencies,4741,Cryptocurrencies Latest News,5117,Cryptocurrency Latest News,4741,Cryptocurrency News,9858,
ltr
item
Cryptocurrency Latest News: Weiss Ratings: Bitcoin Will Lose 50% of Its Market Share to Ethereum in 5 Years
Weiss Ratings: Bitcoin Will Lose 50% of Its Market Share to Ethereum in 5 Years
https://bitcoinist.com/wp-content/uploads/2018/09/shutterstock_240344356-640x400.jpg
Cryptocurrency Latest News
http://cryptocurrencylatest.blogspot.com/2018/09/weiss-ratings-bitcoin-will-lose-50-of.html
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/2018/09/weiss-ratings-bitcoin-will-lose-50-of.html
true
1236144943044321696
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy