I've seen many stores proudly display "We accept Bitcoin here" stickers but I haven't seen the same for Ethereum. Why is that?
I've seen many stores proudly display "We accept Bitcoin here" stickers but I haven't seen the same for Ethereum. Why is that?
If you spend a lot of time on Reddit browsing /r/bitcoin or /r/cryptocurrency, you'll stumble upon a ton of hype. Not the good type of hype either. A lot of the content is "Bitcoin to a million dollars!!11one!!" or "Read this if you don't want to miss out on making money with [insert altcoin]!!!"
This is bad for the crypto community and gives cryptocurrencies a bad rep. Newbies buy-in and get burned quickly, then leave and vow to never come back. Reading the threads reminds me of the late 90's pump and dump schemes. I got burned once and know how it feels.
What makes crypto irrational is that an altcoin may have the best technology, but the only way for it to succeed is to get mass adoption. One way to do that is through hype. Even celebs are shilling crypto *eye roll*
I recently came across this well-written analysis of Bitcoin by Citibank. If you have time, it is worth a read, or spend only 15 min to skim it if you're pressed for time (skip to page 101 for the conclusion).
Morgan Stanley next month is set to allow high net worth clients the ability to buy bitcoins. I think this is a good move. As more people with power and influence get involved, I hope to see bitcoin open up to the masses. I also hope that there is guidance and regulation provided so that the industry can healthily grow; right now, a lot of the features offered to the public sit in a gray area (e.g., lending of cryptocurrency to earn interest).
I'm also attaching a Morgan Stanley report if you have the time. It's more quantitative but serves as another data point from Wall Street.
There is so much to learn about crypto. When I first got started, I used a variety of YouTube, Wikis, and websites to get me up to speed. In particular, the following websites have proven invaluable to me and I wanted to share them with you:
If you have a resource that you find especially useful, please let me know. I am always happy to learn more.
I recently confirmed that Gemini does indeed offer free withdraws and does not charge transaction / network fees. I'm surprised by this because transaction fees on the Ethereum network can cost over $10 for small transactions (e.g., under $50), which is cost prohibitive. It seems many exchanges, including Coinbase, also offer this free service.
Gemini has some internal software to make it cost efficient for them by rolling withdrawals into one transaction. So when you refer to your transaction hash on Blockchain.com, you'll see a few other transactions alongside your's.