cmon are you joking? ETH is a 1 Billion Dollar Bubble. Its about contract not coins. Look at the 1 Month chart. A lot of ppl will lose a lot of money.
Disclaimer: I hold BTC, XMR and ETH, I consider them all to be apart of the growing Crypto economy.
I believe that you're wrong about the ETH market cap.
There are many people already transacting goods in Ether, ETH is being used not only to power contracts but also act as the store of value and transfer of value for many ICO's that are happening on the Ethereum chain.
Trust me, if ETH was only for gas none of this would be happening.
It's a currency, as much as Bitcoin is.
But it's not a competitor to Monero, it's not anonymous and from my research no one wants ETH to be anonymous.
(Although they are looking to closely integrate with an anonymous carrier currency for adding privacy to smart contracts.)
I am told constantly by many investors that Crypto currency communities are toxic, and I can see why. Here we are talking about the future of anonymous transactions and anonymous stores of value and there are people like you that are believers in what I call "onecoin".
This is the flawed concept that there can only be the one coin, no matter what that coin does.
It makes you as bad as the Bitcoiners that believe no matter what blockchain advances happen in the future, all progress shall halt as Bitcoin was made perfect in Satoshi's image.
My recommendation.
Stop being that guy, stop being a onecoiner.
There is room for a smart contracts platform and yes, ETH is the coin for that platform and yes it's very much a store of value. Even today it's being used in many ways that are not just for "gas".
However there is also room for anonymous coins, where the entire blockchain exists for that one purpose.
Monero could be/is that coin, your main competitor isn't going to be ETH, it's going to be Zcash.
Consider this, I used to be a onecoiner but realised that many of these projects are very much apples to oranges.
The market can carry more than one coin, as long as those different coins serve a purpose.
Your attitude towards ETH is toxic.
Let's stop.
My opinion here? I believe that the market can sustain multiple anonymous coins on the basis that they satisfy the following:
1) They have proper anonymous capabilities.
2) They have good development teams.
3) They have active communities.
4) They are used in trade/goods.
5) They have
different tech.
This last one is really important. The market will not sustain two large economies around two coins with the same tech, it's pointless. Look at Litecoin and Bitcoin.
However Cryptonote is very different from Zcash.
This is good.
That means that people that want to trade and park their money in an anonymous currency now have two technologies to choose from.
And anyone smart will put their money in both. (hedging in case the tech in one of them ever fails)
Of course (1) matters here too, hence why Dash will not be apart of any serious consideration for an anonymous coin.
