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THE BULL CASE FOR THE BULL MARKET
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$ETH leads bull markets. $BTC leads bear markets.
Nothing else in crypto is big enough to matter.
By any date that you pick for "bear market is over," $ETH has outperformed $BTC by a substantial amount.
Nothing else in crypto is big enough to matter.
By any date that you pick for "bear market is over," $ETH has outperformed $BTC by a substantial amount.
$BTC was first and has all the advantages of incumbency. Better name recognition, more media mentions, friendlier media, etc
But Bitcoin is a small market. Digital gold.
Gold is less than 1% of total wealth, most estimates have it around 0.5% https://www.jmbullion.com/investing-guide/paper-investments/gold-silver-percentage-global-assets/
But Bitcoin is a small market. Digital gold.
Gold is less than 1% of total wealth, most estimates have it around 0.5% https://www.jmbullion.com/investing-guide/paper-investments/gold-silver-percentage-global-assets/
Gold as a % of total wealth has been declining over time, because people prefer productive assets
$ETH is a much much bigger opportunity.
$ETH is a much much bigger opportunity.
Imagine if $ETH becomes the native currency of the internet. The 402 http status code we were promised
An Ethereum that serves as the settlement layer for payments.
An Ethereum that runs the majority of the world's web apps https://en.wikipedia.org/wiki/List_of_HTTP_status_codes#4xx_client_errors
An Ethereum that serves as the settlement layer for payments.
An Ethereum that runs the majority of the world's web apps https://en.wikipedia.org/wiki/List_of_HTTP_status_codes#4xx_client_errors
The bull market collapsed in q1 2018 because Ethereum wasn't delivering.
there were no trustless offchain ("layer2") solutions
Ethereum didn't deliver scalability. Privacy was bad. Few apps were live.
there were no trustless offchain ("layer2") solutions
Ethereum didn't deliver scalability. Privacy was bad. Few apps were live.
You buy gold to hedge when you're worried about negative things. Or in this case, in crypto bear markets, people bought $BTC.
In 2018, Ethereum wasn't delivering enough vis a vis the hype
As market tanked and no one believed in crypto, BTC was a schelling point trade.
In 2018, Ethereum wasn't delivering enough vis a vis the hype
As market tanked and no one believed in crypto, BTC was a schelling point trade.
Ethereum *now* vs q1 2018 is night & day.
Layer2 solutions are here that deliver Visa-level throughput, though not yet fully used
Privacy is better, though still expensive
Apps are live, with an entire ecosystem that's so vibrant that other chains just copy/paste $ETH apps
Layer2 solutions are here that deliver Visa-level throughput, though not yet fully used
Privacy is better, though still expensive
Apps are live, with an entire ecosystem that's so vibrant that other chains just copy/paste $ETH apps
The Ethereum Foundation was a bit of a joke last bull cycle. Completely opaque, tiny research team, insanely cheap.
These days, while of course everyone wants to get paid more, priorities are better, stuff gets funded, the research team is real. And transparency is better
These days, while of course everyone wants to get paid more, priorities are better, stuff gets funded, the research team is real. And transparency is better
Kudos to @AyaMiyagotchi on all those things, she really don't get enough credit for turning EF around and steadily improving things in a mostly thankless job.
But the biggest things are yet to come:
1. eip1559
2. turning off PoW
Both are gamechangers.
1559 improves the user experience and inexorably binds $ETH into the protocol.
It also drastically cuts issuance
1. eip1559
2. turning off PoW
Both are gamechangers.
1559 improves the user experience and inexorably binds $ETH into the protocol.
It also drastically cuts issuance
Turning off PoW in favor of PoS will be the biggest moment in "crypto" since Ethereum's genesis block.
No more energy waste, better security, more decentralization, regular block times.
And transaction finality, which you can never have in PoW
No more energy waste, better security, more decentralization, regular block times.
And transaction finality, which you can never have in PoW
Turning off PoW will drastically cut $ETH issuance. In fact, it is likely that $ETH net issuance will be lower.
No more constant sell pressure from miners to pay utility bills
Meanwhile $ETH is the only proof of stake chain which isn't run in datacenters.
It's decentralized
No more constant sell pressure from miners to pay utility bills
Meanwhile $ETH is the only proof of stake chain which isn't run in datacenters.
It's decentralized
Unlike last bull market, this time Ethereum is delivering.
That's the most bullish thing for crypto.
That's the most bullish thing for crypto.
