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Ethereum can’t be a better store of value than bitcoin while also being a widely used smart contract platform, according to former BitMEX CEO Arthur Hayes.
Ethereum can’t be a better store of value than bitcoin while also being a widely used smart contract platform, according to former BitMEX CEO Arthur Hayes.
[@PushkarGorivale](/user/profile/PushkarGorivale) No, I have balanced thoughts for both of them. Both have their strengths. I am cheering for both to do well. Kind of like how I can use Microsoft and Apple products. Just because they are competitors does not mean I need one to fail or one to succeed as both offer value. BTC and ETH have different roles. And I like it that way because while both are crypto, they diversify my crypto portfolio in the same sense that you can own stock in tech, or finance, or green energy and not put your eggs in one basket. ETH and BTC fans need to just unite under their love for crypto and not worry about which is better. Both are good.
[@PushkarGorivale](/user/profile/PushkarGorivale) No, I have balanced thoughts for both of them. Both have their strengths. I am cheering for both to do well. Kind of like how I can use Microsoft and Apple products. Just because they are competitors does not mean I need one to fail or one to succeed as both offer value. BTC and ETH have different roles. And I like it that way because while both are crypto, they diversify my crypto portfolio in the same sense that you can own stock in tech, or finance, or green energy and not put your eggs in one basket. ETH and BTC fans need to just unite under their love for crypto and not worry about which is better. Both are good.
Several things: 1. Reading the original blog is highly recommended, whether you agree with Hayes or not, because his concerns are worth understand more fully. 2. Arguably, “money” has three social functions: storing value, acting as a medium of exchange, and providing accounting. Both BTC and ETH do all three to some degree, but ETH adds a computational and execution element to the accounting that raises the question/concern that Hayes is naming. 3. Some projects are trying to help ETH have more of its cake and eat more of it too (TRU comes to mind here), but as you can tell from the gas fees there has been no significant solve as of yet. 4. The POS change will have secondary and tertiary consequences that nobody yet fully understands. Original blog below: [https://cryptohayes.medium.com/fear-is-the-mind-killer-f838d9a0d1c1](https://cryptohayes.medium.com/fear-is-the-mind-killer-f838d9a0d1c1)
Several things: 1. Reading the original blog is highly recommended, whether you agree with Hayes or not, because his concerns are worth understand more fully. 2. Arguably, “money” has three social functions: storing value, acting as a medium of exchange, and providing accounting. Both BTC and ETH do all three to some degree, but ETH adds a computational and execution element to the accounting that raises the question/concern that Hayes is naming. 3. Some projects are trying to help ETH have more of its cake and eat more of it too (TRU comes to mind here), but as you can tell from the gas fees there has been no significant solve as of yet. 4. The POS change will have secondary and tertiary consequences that nobody yet fully understands. Original blog below: [https://cryptohayes.medium.com/fear-is-the-mind-killer-f838d9a0d1c1](https://cryptohayes.medium.com/fear-is-the-mind-killer-f838d9a0d1c1)
excellent explanation but according to eToro analyst Simon Peters,Ethereum could certainly challenge Bitcoin for the number one spot among cryptoassets in terms of market cap, but it will be a few years yet before this could potentially happen. And at this moment in time, Ethereum arguably has more potential for more real-world applications, prompting a wider ecosystem than Bitcoin. If you look at where the market cap of Bitcoin was six years ago it was approximately $5 billion, whereas Ethereum at a similar point in terms of its life cycle (six years since launching) has a market cap of $300billion. We must remember both tokens were created for different reasons. Bitcoin is a decentralised currency and Ethereum is a platform to build decentralised apps that make use of smart contracts. Although often seen as worlds apart, the fortunes of both Bitcoin and Ethereum have often run parallel as they reflect similar patterns of ebb and flow along the horizontal graphs that illuminate the puzzled faces of many traders across the globe.
excellent explanation but according to eToro analyst Simon Peters,Ethereum could certainly challenge Bitcoin for the number one spot among cryptoassets in terms of market cap, but it will be a few years yet before this could potentially happen. And at this moment in time, Ethereum arguably has more potential for more real-world applications, prompting a wider ecosystem than Bitcoin. If you look at where the market cap of Bitcoin was six years ago it was approximately $5 billion, whereas Ethereum at a similar point in terms of its life cycle (six years since launching) has a market cap of $300billion. We must remember both tokens were created for different reasons. Bitcoin is a decentralised currency and Ethereum is a platform to build decentralised apps that make use of smart contracts. Although often seen as worlds apart, the fortunes of both Bitcoin and Ethereum have often run parallel as they reflect similar patterns of ebb and flow along the horizontal graphs that illuminate the puzzled faces of many traders across the globe.
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