Read on Twitter
" #Bitcoin 
and #Ethereum do not compete because they have completely different purposes."
I hear this from a lot of people, but I also hear that they DO compete from an increasing number of voices.
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and #Ethereum do not compete because they have completely different purposes."I hear this from a lot of people, but I also hear that they DO compete from an increasing number of voices.
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How come @BanklessHQ, @iamDCinvestor, @sassal0x and others have simultaneously reached the same conclusion: $ETH is significantly superior to $BTC in every aspect pertaining monetary networks, with the exception that $BTC has already reached ossification.
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#Ethereum will enter ossification in 2-3 years. When it happens, $ETH is projected to:
Have near net 0% issuance, and potentially becoming a deflationary asset.
Provide at least 2.5% APY denominated in a non-inflationary asset with negligible risk exposure.
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Have near net 0% issuance, and potentially becoming a deflationary asset.Provide at least 2.5% APY denominated in a non-inflationary asset with negligible risk exposure.3/
Serve as a non-custodial monetary asset for any economic activity operated within its network.Virtually eliminate operational costs by discontinuing mining with PoS, which has many demonstrable advantages over PoW.Increased throughput will handle at least 100,000 tps.4/
Include full operational programmability without sacrificing decentralization properties that are critical to the value proposition of monetary networks.Operate an alternative financial system that is inclusive and immune to censorship. 5/
Imagine how using the Ethereum network (with stable coins) will help countries facing monetary/banking collapses.
Have a monetary policy that is sustainable EVEN in the absence of network fees.
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Have a monetary policy that is sustainable EVEN in the absence of network fees.6/
Do you see why it is difficult to agree that $ETH does not compete with $BTC because they are totally different things? There is room for intelligent disagreement, but the matter of the fact is that a lot of people believe in an alternative narrative.
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This means $BTC and $ETH DO compete for capital allocation even if their views are invalid.
The $ETH vs $BTC debate reminds me of how fax machines did not compete with the internet because "they were totally different things".
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The $ETH vs $BTC debate reminds me of how fax machines did not compete with the internet because "they were totally different things".
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That is entirely true, but the first is just a small subset of what the second can do. In fact, the internet does almost everything fax machines do, except better. The physical capabilities of fax machines were replaced by other devices, and the fax became obsolete.
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If you are in disagreement/skeptical, then you may be misunderstanding or misinformed.
This thesis covers the $BTC and $ETH debate in great detail, and it brings all the pieces of the crypto puzzle together in one doc
https://docs.google.com/document/d/11oCA9iPtv6s-twhW6PdSpiENKCbeW7aJJO9Jv8KEc2g
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This thesis covers the $BTC and $ETH debate in great detail, and it brings all the pieces of the crypto puzzle together in one doc
https://docs.google.com/document/d/11oCA9iPtv6s-twhW6PdSpiENKCbeW7aJJO9Jv8KEc2g
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