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As a “hard fork” looms, which looks set to split Bitcoin into two separate currencies that will have to fight for custody of the Bitcoin monikerThis already happened to eth when the creators hard forked the chain in an effort to roll back operations of an eth application that was used in a way that the creators did not anticipate. If this didn't kill ethereum why would it be a problem for bitcoin? Fortunately for bitcoin, there isn't a highly influential and transparently self-interested creator lording over the project.
> Bitcoin transactions can take anywhere from tens of minutes to several hours, depending on how busy the network is.
An unsolved growth problem for the reining incumbent that remains unsolved by ethereum. Transactions take a long time because decentralized proof of work verification is slow. A lot of people will say "proof of stake is coming!!!" but it's essentially vaporware and all signs point to the conclusion that it will remain that way for the foreseeable future. Yeah, people are working on it, like all vaporware.
> Ethereum is actually a platform for new kinds of decentralized (often financial) applications (dApps) that run on a peer-to-peer network of computers
Except this isn't actually happening in practice. I am yet to see any "new kinds of decentralized applications", just toy applications that have no practical purpose besides internet roulette
> TL;DR: Bitcoin’s dominance is slipping because its utility is limited and weakening versus other more recently developed, less politicized cryptocurrencies.
Bitcoin's dominance is not slipping because it's utility was marginal to begin with and eth certainly doesn't offer much in the way of compelling improvements over bitcoin.
This already happened to eth when the creators hard forked the chain in an effort to roll back operations of an eth application that was used in a way that the creators did not anticipate. If this didn't kill ethereum why would it be a problem for bitcoin? Fortunately for bitcoin, there isn't a highly influential and transparently self-interested creator lording over the project.
> Bitcoin transactions can take anywhere from tens of minutes to several hours, depending on how busy the network is.
An unsolved growth problem for the reining incumbent that remains unsolved by ethereum. Transactions take a long time because decentralized proof of work verification is slow. A lot of people will say "proof of stake is coming!!!" but it's essentially vaporware and all signs point to the conclusion that it will remain that way for the foreseeable future. Yeah, people are working on it, like all vaporware.
> Ethereum is actually a platform for new kinds of decentralized (often financial) applications (dApps) that run on a peer-to-peer network of computers
Except this isn't actually happening in practice. I am yet to see any "new kinds of decentralized applications", just toy applications that have no practical purpose besides internet roulette
> TL;DR: Bitcoin’s dominance is slipping because its utility is limited and weakening versus other more recently developed, less politicized cryptocurrencies.
Bitcoin's dominance is not slipping because it's utility was marginal to begin with and eth certainly doesn't offer much in the way of compelling improvements over bitcoin.