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Mike Novogratz: Ethereum advance is “far”, will Bitcoin overtake – Coin Hero

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Mike Novogratz: Ethereum advance is “far”, will Bitcoin overtake

Home News Mike Novogratz: Ethereum is “far ahead”, will Bitcoin overtake

Of
Marcel Knobloch –
13.05.2019

Mike Novogratz, one of the most well-known Bitcoin bulls in the cryptographic area has declared to the Surprise of many, in a Keynote address on the Ethereal Summit in New York that Ethereum will dominate in his opinion (even before Bitcoin) in the area of Online payments.

In a speech to the Ethereal Summit of the founder of Galaxy Digital Capital and former Goldman Sachs Partner, said that the currently the second largest Cryptocurrency has the potential to dominate what many refer to as Web 3.0. In fact, Novogratz argued that the Blockchain project, if successful, will provide the most valuable Blockchain network could be used by all, and even the total value of Bitcoin could surpass.

“There’s good news and bad news” for Ethereum investors, said Novogratz. “The good news is that Ethereum is far ahead of” and noticed the enormous number of developers and companies that build on the Smart Contracts platform. “Ethereum has, by far, the majority of the people in the room.” This, he said, would be a huge advantage over competitors such as Cosmos or polka dot, which may soon start with more advanced technologies, but in terms of the interest in the introduction of far back to be.

What we considered to be investors, and what I stress, is that it only works when people are in the room.

Litecoin, for example, have a “very vibrant community,” says Novogratz. “But it is a community of speculators. No one developed anything on the Litecoin Blockchain.“ For him, Litecoin have “no future”. Although Ethereum, Bitcoin at some point as the most valuable Digital Asset could push into the Background, stressed the Novogratz, that Bitcoin will still retain for some time the guidance as a de facto control of crypto currency.

Bitcoin has established itself truly as a store of Value. The debate is over. We have won.

Novogratz predicted, however, that the value of the memory properties of Bitcoin will eventually occur through Smart Contracts and decentralized applications in the Background. “The really cool stuff is Web 3.0,” he said. “This is the Revolution in many ways.” Online payments were a “phenomenally important” for the Blockchain technology, so Novogratz further, they would represent an important Alternative to state-controlled currencies.

Conflicting Opinions

At the beginning of the year, Fred Wilson, the co-founder of Union Square Ventures wrote a blog post that he expects Ethereums is provided to place in the Smart Contract Ecosystem of many new competitors in question. Kyle Samani, a Partner of the investment group Multicoin Capital, said to be short also to the fact that Ethereum looks to be a significant competition. A significant percentage of the total developer work from Ethereum would be for new platforms, such as Cosmos and Polkadot. Even Vitalik Buterin said this year that the project could suffer in the future. The Ethereum founders noted that the project could lose control of the Smart Contract Blockchain Ecosystem “to some degree”.

It seems, however, numerous indications that the project will succeed in the long term. The fact is that Ethereum has the advantage of the First Mover. In addition, the recent news will confirm the positive developments for Ethereum. So rumors have emerged at the end of April, and that Samsung intends to make an Ethereum-based Blockchain to build, which will house a private Token. It is not clear what is the Use of the Token will have, but rumors indicate that the Blockchain for Samsung could be used Pay. In addition, Ethereum has over the Enterprise Ethereum Alliance, many of the world’s largest companies as a Partner.

Featured Image: kkssr | Shutterstock

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