Bitcoin capitulation to Ethereum is coming. Everyone is over weight bitcoin and most people don't realize Ethereum is winning on almost every fundamental metric.
Ethereums monetary policy will print less than 1% and burn ETH gas to reduce supply. Bitcoins plan is to pay for security through transactions from hodlers?
Bitcoin is not being used as a reserve currency. ETH as collateral is at 750 billion dollars and growing. Where is bitcoin used as collateral? There arent any non-centralized uses for bitcoin as reserve collateral.
Security must be supported by value created which is best represented through fees paid in transactions. Ethereum is already earning more in fees than bitcoin and its lead will increase.
Killer app Dollar pegged tokens (aka stable coins) is dominated by Ethereum. Tether is deserting bitcoin (omni) and EOS and bitshares are failing systems. Ethereum wins here too!
Bitcoin mining appears to be centralizing especially in China. Meanwhile POS on Ethereum has been researched for years and will prove to be not only more secure then POW, it will hopefully be more decentralized!
Bitcoin is only traded through centralized exchanges usually restricted to its local country. Meanwhile decentralized exchanges flourish on Ethereum including UniswapExchange and KyberNetwork.
Bitcoins only plan for payments, the Lightning network, is getting adoption. Zero knowledge solutions like optimistic rollup are live on Ethereum with 100s tps, instant confirmation, and privacy options.
Institutions are coming! sounds good, but its not happening. Institutions arent motivated. Bitcoin excitement stems from not needing custodians. Bakkt has moved to selling bitcoin derivatives settled in dollars.
Gold is small part of the financial system that has been captured by central banks. Is that all Bitcoin aspires for? Meanwhile Ethereum is positioned to take over everything including the quadrillion dollar derivatives market.
One hope for bitcoin usage is to be trustlessly locked as an ERC-20 token on Ethereum. TBTC seems to be the best hope for this right now, but I dont think we see it really open for business until late 2020.
Meanwhile its unicorns and rainbows in the Ethereum community. Open minds, kind hearts, and great fast moving innovative tech.
Vitalik Buterin is a class act with an open mind & sharp brain, who travels the world to learn, share, and buidl. Bitcoin has no such leader.
I respect jlppfeffer but his 1% bet on BTC is small part of his portfolio, and he admits that crypto is not his main area of investment. His paper on uselessness utility tokens was brilliant at the right time in 2018 but ETH is not a utility token and its 2020.
Also common are Ethereum lovers who are overweight Bitcoin. Richard Heart Win trashes bitcoin daily, but still holds most of his crypto (if not total wealth) in Bitcoin. When will he capitulate? Many ETH lovers need to rebalance their portfolio by selling BTC for ETH.