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.
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.
You answered your own question. ETH is like the the new walletbuilders; allowing dumb people to easily create their own scams but with ICOs instead of premines.
"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."
I was about to call you a lot of names but then I checked and your account is barely older than 3 months.
I pay in Bitcoin for almost everything I buy online, it's the
gold standard except it's actually more valuable and more useful. Claiming otherwise makes you look like a fool and makes me think why anyone would even care to tell you this...