I could've made the decision to pull out of alts into btc before the fork block but instead, I chose not to. I chose not to simply because that's what the crowd was doing. Almost everyone that knew about the fork went for it. Free Bitcoin Gold, why not right? I'll tell you why I chose not to. The price inflated because of the influx of cash due to the incentive of bitcoin gold. The fork effectively used an incentive for people to buy and hold bitcoin.
To me Bitcoin doesn't give me much value, I want to get the most bang for my buck if you will. The thing about bitcoin is that it was the first blockchain cryptocurrency so naturally it's the biggest. I'm forever grateful for bitcoin for introducing the blockchain world and creating a new ecosystem but after discovering ethereum; I see more value in newer blockchains than bitcoin. I was lucky enough to find the value in ethereum before it became valuable. If it comes down to Bitcoin or Ethereum, I'm completely biased. When I see the value of bitcoin at 100 B market cap, that tells me it's gonna take a 200 B for me to make 100% on my initial investment. For it to go up 100B is extremely difficult. It took 7 years for it to reach where it's at and surely it could grow over time- in the long run. But to me the real winners are going to be people who are entrepreneurs and find new ways to use cryptocurrency and use blockchain technology as solutions. Somebody correct me if I'm wrong but how would you program bitcoin? Ethereum just makes so much more sense to me because I have more advanced controls over the technology. On the ethereum network, I can send any amount of ether for a fixed amount of ether (gas price). With bitcoin, I'm going to have to pay bigger mining fees. Not only that but I can program a smart contract to send ethereum without me actually having to send- I can build a smart contract to basically do anything without me having to execute a function every time- because smart contracts live on the ethereum blockchain. In my opinion, Bitcoin is more a security than a utility. I can store value on the bitcoin blockchain but on the ethereum blockchain I can do basically anthing- the best applications for ethereum have not even been created or thought of.
If 90% of ICO's will fail, I don't believe the smart contracts themselves will fail, the failure will come from the people behind those ICO's who don't follow through on their building their networks.
Sometimes, pioneers become a thing of the past, and it's the settlers who prosper. I'm confident in the utility aspect of ethereum and for me, I see more value in the actual opportunity of building new businesses in the window of this new network than I do in just buying bitcoin and waiting. There's no reason why Bitcoin and Ethereum can't co exist or even support each other but my personal preference is ethereum. And I wouldn't be surprised to see a new wave of massively successful ERC20 token smart contracts.
Just like during the American gold rush, some of the people that become the wealthiest weren't the miners but the people who set up businesses to sell to miners. I started off as purely a beginner investor trying to make money but now I'm passionate about actually creating & developing my ideas instead of just owning.
Send any ETH or ERC20 contributions to: 0x6Cf49438712fC00387D4D6B1AAF267160b75E31c