I see a lot of ethereum fudding going on. I think people just want to make a killing buying in on the dip so they make it sound like all it lost. If the current congestion means ethereum is worthless then so is bitcoin.
BTC and ETH are not even in the same neighborhood. If any coin is overvalued during this crazy crypto pump across all coins, the winner is surely ETH.
Realistically speaking it
should not be valued for as much as it does.
Based on what? The fact that its risen so fast? Its a fact that a lot of ethereum is now effectively locked up in various ICOs and the demand for ETH to pay gas fees is rising at an enormous pace. The demand for bitcoin however I feel is more speculative since you don't actually need it for anything, except maybe to buy altcoins on exchanges.
ETH is merely got so much hype due to most of the ICO are going with their platform but no one knows that ETH is controlled by the developer and so can do anything, that is the reason this time we care seeing dump in ETH but it was expected long back, and we can see more down if their is no real support. But in bitcoin you are telling that it is used for buying altcoins then i think you have not used bitcoin for other uses like gambling, in casinos and sports betting, purchase goods online. if your country is accepting bitcoins then you can do much more activity
Usually, the ethereum chain can be processing up to 40 tx in a second, But the massive demand caused by ico that bring the chain thousands transaction in a second.
What do you mean about "controlled by developer"?
Are you nuts?
https://np.reddit.com/r/ethtrader/comments/6imwi2/dwarfpool_and_f2pool_are_damaging_ethereum_a/In another case, There is a glitch with the fucking gdax exchange. This already did by bitcoin in the past time.
I remember the bitcoin goes below $1.