1/ here are 7 reasons i am not optimistic about Bitcoin Maximalists long-term future https://twitter.com/NickGiambruno/status/1388132868111622144

2/ you can expect a lot more FUD along these lines from the Maxis as they become desperate

that's because for some of them, it's not enough that Bitcoin "win," but everything else must lose in order to maintain Bitcoin dominance

too bad the world doesn't work like this

3/ i offer a quick rebuttal to each of these points below:

#1 - Ethereum operates on rules of social consensus, just like Bitcoin. devs cannot rollback tx's. if 51% of node operators colluded , perhaps, but this the same as Bitcoin

4/ #2 - scarcity is a function of supply and demand. devs don't "control" monetary policy. they can make suggestions, but the universe of validators (and ultimately users) must deem them legitimate

this is why ETH issuance has only declined over time

5/ #3 - wrong. CFTC has already ruled that ETH is a commodity. case closed. ETH even has futures at CME now. this is basically a blatant lie

6/ #4 - while it is true that many apps and users access Ethereum via Infura (think of it like an ISP), they don't need to. users can run their own node, and there are alternatives (like Cloudflare)

over time, expect far more alternatives to arise

7/ #5 - no clear use case? really? ok, DeFi and NFT use are soaring. ICOs helped pave the way for permissionless economic activity. ETH is used as gas. apps of all kinds will succeed with L2

yes, it's all true. Ethereum has no singular use case. expect even more to come

8/ EIP-1559 introduces fee burn, destroying ETH supply with use

this will stack with Proof of Stake, reducing issuance

the result will be net supply deflation (BETTER than a supposed BTC hardcap)

this is max cope, before those changes in July and then PoS merge in <1 year

9/ read more on this here: https://twitter.com/SquishChaos/status/1387074107217436675

10/ #7- Ethereum has become emergent to the point that when problems come up, 1000s of smart people are ready to solve them

that is why Ethereum continues to surprise Maxis by relentlessly shipping, shipping, shipping

11/ i could go on, but i think i've made my point

anyway, carry on, and think for yourselves