Brian Kelly, CEO of a crypto-based investment firm BKCM LLC, has recently shared with CNBC that Ethereum (ETH) could be an ideal choice when it comes to cryptocurrencies altogether, even better than bitcoin potentially. He lists his three reasons why as Ethereum’s classification, augur platform, and software mining.
Kelly, aware of the fact that many consumers have high hopes for Bitcoin, believes that it is not necessarily a good idea. He gave an example of Myspace and Facebook, where he argued that “Myspace existed well before Facebook. Tech disrupts itself […] bitcoin today doesn’t mean in 10 or 15 years bitcoin is going to be the leader.”
He also praised ETH of its performance rate, which he says has been “a little better than bitcoin.” Despite the slight difference, it appears that Kelly will be routing for ETH.
Here is a closer look at why Kelly’s three reasons in favor of ETH might be enough to convince users of its potency:
1) Ethereum Futures to Come into Existence
Not too long ago, SEC stated that while majority of the tokens distributed through ICOs will most likely be considered a security, ETH, and according to many sources, BTC will not be classified the same way. In response to this, Kelly states, “So one would think, perhaps, ethereum futures are not far off.”
2) Augur (REP) Predictions Platform
Kelly approves of the Augur Platform, a decentralized oracle and prediction market that has been built on the Ethereum blockchain. He believes that the respective platform is current in its development stages and “if [augur] doesn’t slow the system down, that can generally be a positive for ethereum”.
3) Software Mining Over Hardware Mining
Kelly strongly believes that Ethereum will eventually change its current “hardware mining, proof of work, to something called proof of stake, which is similar to software mining.” There are now new reports surfacing about Ethereum wanting to combine both sharding and casper upgrades at once which is aimed at scaling.
Regardless, Kelly still has some uncertainties as what the future might entail, like many do, but he believes that the current news along with Ethereum’s continuous improvements could be positive.
What do you guys think? Bitcoin has been the lead for a very long time, and Bitcoin Cash supporter Roger Ver has even stated he thought ETH > BTC by end of the year 2018 in price value.
Some also would argue that EOS is going to eat Ethers lunch coupled with the fact that Block.One likely owns north of 15% of all ethereum out there. At this current time 1 ETH = 46 EOS and one might take a look six months down the road and wonder which coin out of Bitcoin, Ethereum or EOS is going to have the biggest gains and fastest runs as cryptos continue to push their way into everyday conversation about the decentralization of transactional value.