Which will win? BTC or ETH?

7. Aug. 2020

I am interested to see what becomes the dominant method of Internet crypto transfer in the near future. The cost of Bitcoin transactions are becoming incredibly cost prohibitive. In recent weeks it has been as high as $6 worth of Bitcoin to make a transfer.

Often times companies that sell products online and accept cryptocurrency will offer discounts. One I have used in the past offers 20% off if Bitcoin is used. However, if I were to buy something for $30... it may cost $6 to transfer it from a hard wallet and then another $6 to send it to the merchant. This could cost me 40% just to save that 20%! This cannot go on.

I checked around a few sites and it seems like Ethereum is becoming the secondary choice besides Bitcoin for transactions. This is a good fundamental "reason" as to why since the March low BTCUSD is up only +190% while ETHUSD is up over +330% as of writing. Ethereum is outperforming Bitcoin by winning the price and therefor value race. It may soon replace Bitcoin for dominance as not only the preferred method of transaction but also store of wealth.