RE: Cryptocurrency: Quantifying Network Effects
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Ethereum is taking center stage and look at all the defi activity going on with it. The dapps are amazing giving people no choice but to interact with it hence increasing its use case and the userbase as well.
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Ethereum is a unique case and I frankly believe that the only reason it is still number 2 is because it has been around for a longer time.
I mean, Ethereum is awesome and all but when you look at the top 10 coins, you'll find very little utility between them.
It makes me think that the top coins aren't determined by their utility but by speculators and bots that wash trade and shit.
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I mean let's even look at it, hype sells, if it doesn't hive will be top 5. Well apart from the fact that it's around for a long time. At one time or the other we're often swayed but to pay these huge fees whether we like it or not, so this also keeps it 2.
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I think that is the case. It is based a lot on potential and not really what is happening. That is fine since speculation often turns out to be correct. Then again, it is wrong more often than it is right.
Ethereum does have the first mover advantage, that is for sure. It has leveraged that into a great token value. Will it keep that position especially among the smaller projects in the future. That might not be the case which opens the door for something else.
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Luckily for us, we'll have front row seats to watch and participate as the whole thing unfolds.
No way to argue against the success there. All metrics are leading to the same conclusion. The question is will the fee structure inhibit what it taking place. Developers flock there for lots of money so their app will be profitable. Will it be successful though? If users reject the platform, which I think they will in time, we will see development move elsewhere since that is not going to be the honeypot for the average developer like it is now.
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There's no doubt there's a chance this will eventually happens, for Pete sake I think a lot of blockchains even does better than Ethereum.
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