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The Battle Between Ethereum And Bitcoin, As BTC Leads The Crypto Race

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The Battle Between Ethereum And Bitcoin, As BTC Leads The Crypto Race

The battle between Bitcoin and Ethereum has been the main issue for more than a year now. As Cryptocurrency predictors make their predictions, some of their predictions coming to past others backsliding, as usual, it is normal as long as Cryptocurrency trading is a concern.

These two Cryptocurrency (Bitcoin and Ethereum) are the most widely used and discussed Cryptocurrencies in the trading market. Aside from that, the technology behind each is extremely powerful even as they lead the crypto trading.

But the question is, among these two who is the king and the leader in the crypto race. In 2008 Bitcoin was introduced into the world of trading by Satoshi Nakamoto which is a public peer to peer electronic cash with a blockchain technology which exsiccates all transactions.

The blockchain is a ledger that records and stores all transactions. Bitcoin miners are important in the sense that they are always available to confirm all transactions to other networks by adding them to the blockchain which is important for the Bitcoin blockchain. Once a transaction is made and added to a miners blockchain it cannot be reversed or traced which makes it unique and special.

In 2015, Ethereum was launched as open software. It is the largest decentralized platform till now which has led to the design of dApps and smart contracts.

Ethereum, on the other hand, serves as a platform that runs a smart contract. It is not just a currency but a platform with Ether as its digital currency. They are applications that run as programmed without any difficulties (the interference of third party or fraud). This makes the fundamental difference between Ethereum and Bitcoin.

Blockchain technology is the main core for Ethereum and Bitcoin. But their algorithm consensus makes the difference. Even though Ethereum has faster block time than that of Bitcoin.

According to BitInfoCharts, Bitcoin Block time is more than 8 minutes and that of Ethereum is 25 seconds. Isn’t that amazing for Ethereum speculators?. Bitcoin and Ethereum have been battling for some time now especially in the area of Cryptocurrency trading (buying and selling). Bitcoin outperforms the substantiality of Ethereum since the introduction of Cryptocurrencies in the trading market.

The price of Bitcoin is around $5000 in 2019 for the first time, bitcoin was around $900 in 2017. And has increased 5.5x its price level. Therefore, increasing the price and making it a leader of all Cryptocurrencies in terms of trading.

The price of Ethereum is around $ 160 this year, it started at just $10 at the beginning of 2017. Now the price has increased 16x. Which shows a higher increase compared to Bitcoin.

It is clearly seen that Ethereum and Bitcoin have been battling since ages. Where the two are known to be the largest digital currency so far. It is known that Ethereum has more failures in relation to consensus than bitcoin and also has more downtime than bitcoin.

Bitcoin will always lead the Cryptocurrency race as long as crypto trading is concerned.

Cryptocurrency

Peter Schiff Warns Of A Possible Crash Of Bitcoin Below $2,000

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Peter Schiff Warns Of A Possible Crash Of Bitcoin Below $2,000

Peter Schiff, a stockbroker, and financial commentator took to Twitter recently to voice his opinion on the direction of BTC. Though he said the crypto asset is on his way to $6K, however, warns that things can go worse, driving price below to $2K.

A Possible Crash Below $2,000 For Bitcoin (BTC)

Peter Schiff, is known for his love for gold while exhibiting intense hate for bitcoin. However, he has kept an eye on bitcoin, updating the community about its impending crashes to prove his point that bitcoin is worthless.

Though he admitted possessing some bitcoin, his recent tweet still shows he doesn’t see the asset as a wise choice for smart investors.

Peter Schiff, in his recent tweet, expressed how horrible things were looking for bitcoin. According to Mr Schiff, bitcoin is in a move to complete a popular pattern, the head-and-shoulder, which will see the asset drop in value to about $6,000. Furthermore, he opines that bitcoin could slump drastically below the $2,000 mark if the pattern is completed.

While many do not agree with Peter Schiff, some others think bitcoin crashing below $2,000 would be an opportunity to buy more bitcoin.

All these, however, is happening at a time when the institutional traders are trying to pick some interest in bitcoin as trading on the futures exchange, Bakkt, continues to rise.

At the time of writing, bitcoin is currently trading at $8,062.72, with a market cap of over $145 billion according to CoinMarketCap.

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Cryptocurrency

Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price

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Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price

Time and again, several members of the XRP community have opined that the massive dump of the crypto asset in the market has impacted on its price, negatively. Now, there are speculations for another dip in XRP’s price. The latter is after Whale Alert informed on September 7, 2019, that 100 million XRP tokens have been transferred to Jed McCaleb, Ripple’s co-founder. 

Ripple Sends XRP Worth About $26 Million to McCaleb’s Wallet

According to Whale Alert, Ripple transferred 100 million XRP valued at $26,322,440 to Jed McCaleb’s wallet. The transfer has led to the sentiment in the crypto space that XRP might tank below its $0.262 price today. Also, the opinion is due to McCaleb’s reputation for dumping huge amounts of XRP in the market.

McCaleb is Ripple’s co-founder, and in 2014, Ripple transferred 9 billion XRP to him as his share for founding the company in 2012. However, the blockchain company entered a seven-year agreement with McCaleb to control how much XRP he can sell in the market yearly.

Per the agreement, the co-founder could sell $10,000 worth of XRP per week in the first year, $20,000 per week in the second, third, and fourth years, and “750 million XRP per year for the fifth and sixth years.” In the same vein, he could choose to dump 1 billion XRP yearly for the seventh year, and 2 billion XRP yearly after the seventh year.

McCaleb’s Dump of XRP Impacts of Asset’s Market Price

Given that this is the fifth year since the agreement was made, McCaleb can choose to dump thousands of XRP tokens daily. In 2014 when he announced his plans to sell a significant part of his XRP holdings, the value of the asset declined by 40%. As such, the continuous dump of the asset has also been pointed out as one of the reasons why it is not spiking like other top cryptocurrencies.

Asides from being reputable in the XRP community, McCaleb is also a name associated with Mt Gox, one of the first cryptocurrency exchanges. He founded the platform and sold it off years before its hack. Similarly, McCaleb is the creator of Stellar (XLM), the 11th largest cryptocurrency by market cap.

Nonetheless, the crypto community has aired its views about the potential for McCaleb to release another share of XRP to the market. Crypto BitLord, for instance, said: “Wow. Another cool $26M Jed can unload at market. This shits out of control.” Another remarked that: “know, right?! Private businesses shouldn’t be allowed to exist. The name “Jed” should be banned.”

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