Ethereum is getting mixed reviews from critics all over the internet, specifically critics from elsalvador. The country that uses bitcoin. Most of them state that they weren’t expecting such hectic fees just for a single transaction, and proclaim that they’re unable to pay for their groceries because of such fees, forcing them to switch back to bitcoin, the token they were using in the first place. They were accustomed to paying 0.2$ per transaction, but then were introduced to 0.9$ fees that quite frankly, created a deleterious mindset towards Ethereum. Regardless of how big the words I use, it doesn’t change the fact that Ethereum is just not suitable for grand projects that require a huge amount of transaction volume – for example, microtransactions on the bitcoin network are done every second (under 1$), but in Ethereum it’s a different story. Ethereum simply does not possess the power or capability to transact micro transactions because of how transactions can fail – taking your money right into failure with it. Ethereum should’ve stuck to mining. It was more efficient and created competition for GPU producers. Not to mention how it had completely revolutionized the entire industry. For the first time ever, GPUs were overpriced because of excess demand in a market that didn’t exist not so long ago. The only issue is that bitcoin can easily outcompete Ethereum in that field, but it loses a heavy amount when you look at their project friendly capabilities such as how easy it is to release a token on the Ethereum chain, with specialized websites that create one for you in under 30 seconds, while bitcoin could take up to a day to release new project-based tokens as it simply takes more technical expertise in order to push your bitcoin contract onto the chain.

Regardless, it is important to note that there are big projects on the bitcoin chain. For some reason the very first thing that popped into my mind was Litecoin even though it has it’s own blockchain.

In light of fair evaluations, I must also point out their respective marketcaps. Ethereum has done well for itself, especially considering the fact that it has its own public figure – vitalik Buterin. Compared to bitcoin, with a likely dead founder, it is likely that bitcoin will continue to flourish as there is virtually no chance of it being able to be rugged. The founder owns roughly 20 billion dollars in bitcoin which is obviously an absolute ton, but can’t be sold all at once since bitcoin only has a liquidity pool of 2-3 billion dollars at any given time. Which means that the owner would have to sell hundreds of millions at their respective amounts over time, being sure to not bring the price down too much or else you end up with a price that simply keeps going down.