Disclaimer I'm a novice/hobbyists in crypto currencies so take what I say with a grain of salt.
As I continue my research and analysis of crypto currencies I'm really keeping my eye on Ethereum. While Bitcoin is the Godfather and I believe will always anchor crypto tech because of its anonymity for users. Having said that Ethereum is becoming more and more relevant to all of us. Why? Ethereum rising in value actually will be a force to push Bitcoin further and pull up other crypto coins with it.
The rising value of Ethereum is an indication of its advantage over bitcoin primarily as a bank to fiat to bank use as well as common currency. I think of as the combination of Ripple and Bitcoin capabilities, so like Bitcoin its here to stay.
My concern however is the potential for Ethereum to be used by large financial institutions to attack the value of Bitcoin if they were to adopt Ethereum as a backing for the dollar.
Many major financial institutions are meeting in Australia now and Ethereum is the MVP which is why I took notice. If the banks like it then we should keep an eye on it.
So how does STEEM fit in to this? Well one thing I think that should be done is add Ethereum as way to cash out STEEM. I believe adding Ethereum as a cash out option will protect the value and future of STEEM. I could see the possibility of Ethereum and Bitcoin getting out of reach of the average person. Enter STEEM, as users grow there STEEM balance it would afford them the chance to get cryptos that would normally be out of reach because of its cost.
What do all of you think about this?
Thanks,
Chris