Oh shit. So all it took to defeat btc’s entire value proposition was to change the supply schedule from static to deflationary? Man maybe btc should change that to stave off eth.
lmao The btc store of value only works because of its fixed supply mechanics and the narrative that people bought into. Nothing wrong with that, it's how every asset adoption works. But when you have better supply mechanism, and an impending matching narrative then yeah, it's reasonable to presume it's going to outperform in the future.
Also feel free to actually refute my points, but you won't, because you're the most obtuse maxi in this thread and incapable of original thought and forming your own thesis about the future
Guess we’ll see. Under your theory, btc is no longer a store of value and all of that money accrues to eth, so btc goes to $0. How long until that plays out?
Its not like there’s going to be one coin left at the end of it all. Standards are notoriously fractured.
Your point is literally that eth is a better store of value than btc because one has a static supply and one has a decreasing supply. What is there to refute? That’s the most simple brain shit possible. I’m genuinely curious why no one at any of these companies or firms allocating billions of dollars for a store of value views it the same way. You’re right. Value can accrue to all sorts of random use cases, stable coins, etc. But I think it’s highly unlikely given monetary history that there will be multiple significant store of value/monetary asset coins.
Same guy. He’s been in finance his whole life iirc. The trump stint was more of an outlier in terms of his profession than being on CNBC.
user15000 getting offended when anyone says something positive about anything non-BTC is by far my favorite part of this thread.
Idk why you or others think I’m mad or offended. Might as well flesh out ideas in here. The eth narrative has recently shifted to “better store of value than btc.” If the reasoning for that is as described above, then I’ve learned something, even if I disagree with it. I’m not someone who thinks every other crypto project should be $0 or will never have any value. That’s clearly not the case. But I do think the “store of value” use case is and will be won by btc. If that makes me a btc maximalist, then so be it.
Come on man, we can all see the smoke coming off your keyboard when someone talks about something else. I'm not the only one that comments on it. It's a theme of this thread. I find it hilarious, and even better that you have that little self-awareness, so don't change. It's great.
Honestly if you’re not mad your communication skills are terrible because that’s how it comes off *speaking from experience
Sarcastic? Sure. Patronizing? Yep. Belittling at times? Also yes. End of the day though, people itt can do whatever they want. Market will keep track of who is right.
I simply don’t agree that anything in contemporary monetary history indicates humans are going to coalesce on one avenue for store of value.
Hey guys. I don't think anyone here is mad, upset, or whatever. I think some of yall just get a little frustrated that a certain user is so consistently opinionated about a particular topic. Let me know what else is needed from me to help us all move forward on this.
But eth is at least temporarily performing better than btc do by your own statement market is keeping track and you’re wrong. I think that’s a key point in all of your patronizing
Top of last cycle: eth hit $1250 Btc call it $20k today Eth: $2077 Btc: $58k Which is performing better?
For a market that generally has moved in 4 year cycles, it’s about as relevant as it gets. Eth and btc both set all time highs in late 2017/early 2018. They both then entered bear cycles in 2018-2020. They both set new all time highs in late 2020/early 2021. Btc is nearly 3x above its previous all time high. Eth is not yet to 2x.
Why would any other time frame matter? If eth crashed way more from its ath in 2017 and then rallied in the last year, who cares?
Talk to me about this week? I don’t know why you’re arbitrarily defining top of cycles. It’s ok to admit you’re wrong
This week xrp is up 70% and btc and eth are flat. So buy xrp I guess. Pancake swap is up 37% too. There’s also nothing arbitrary about the top of a cycle. Those are facts. Look at any price chart.
This is a pure price discussion. Unclear if they have a different goal since eth is a better store of value, but yes I would generally agree with you that they have different goals/risk profiles. Either way, these are facts: Eth and btc both set all time highs in late 2017/early 2018. Eth ~$1250 and btc call it $20k (although it was closer to $18k on most exchanges) They both then entered bear cycles in 2018-2020. Eth crashing as low as $84. Btc to like $3.2k. They both set new all time highs in late 2020/early 2021. Now, Btc is nearly 3x above its previous all time high. Eth is not yet to 2x.
i think one of the issues people have with you is you seem to keep reverting the discussion to align with pure price or your own goals.
It’s completely arbitrary because nothing we’re talking about today has anything to do with the too of the cycle. Yes, buying XRP before the surge would have been a good way to make money. I’m not sure why you don’t understand this or why you’re so cunty about it
This started with Tug saying this: "But eth is at least temporarily performing better than btc do by your own statement market is keeping track and you’re wrong." So what's the time period we're talking about? A day? A month? A year? 6 months? 3 years? I don't think it's controversial to look at the high for each off the previous cycle when both have generally followed the exact same pattern. If anything, every other measurement seems a bit arbitrary to me. This literally started with Tug bringing up price and market performance. It's not completely arbitrary to look at previous all time highs, when both broke those, and how they have done since. You originated the price discussion with a poorly defined comparison of "temporarily performing better." If your inquiry today is "what does the top of this cycle max price look like for btc and eth?" I couldn't pretend to know. The btc people I follow have called anywhere from $100k to $400k. Iirc Raoul Pal thinks eth hits $20k this cycle. I'm not a trader, and I'm not looking for the next alt in the top 100 that might pump 50% overnight. If you're trading, you might as well ignore everything I have to say in this entire thread. I have zero interest in trading in and out of alt coins.
I transferred my 0x for a 20% gain and moved it to BTC. Just bought $400 of SUSHI. Logic behind it? I'm getting sushi for dinner. That's how shitcoins work right?
I need southside to let me know when we're nearing the top so I can gtfo. Do you guys plan on converting to USDT when you suspect a downturn?
IMO we're pretty damn close to a local top. If BTC doesn't make a move in the next 5-7 days, I think we're about to see a pretty nasty correction and consolidation for a few more months. If we move up, this is the last move up for now. On high timeframes (weekly/monthly) we're pretty damn overbought, which is why we're consolidating so much. No buyer is stepping in right now. Either way, it has to make a move soon given the technicals and the wedge pattern that is forming. this lines up with my thesis I've said multiple times in here that Q2 local top, nasty correction 40-50%, consolidate for several months, followed by new ATH in Q4/Q1. That and everyone all non-chalant like 100k is programmed with ease has me on high alert that the market is going to fuck some people up very soon.
You know that firms said the same shit about btc for years? You act like people only do as they say in the press and don't act differently behind the scenes. You're right, there's nothing to refute because it's literally math.
How do you align the statement of no buyer stepping in right now with the fact that 10+% of btc price is above $53.5k?
Exactly this. To think in such binary terms that for ETH to outperform means BTC goes to 0 is rather myopic.
That doesn't mean it's enough to put us to a new all time high. Obviously there's buyers, or it would be only sell pressure and go to $0
Yes temporarily. temporarily doesn’t mean tracking back to 2017. That’s a completely irrelevant data point. Looking at Coinbase *today* BTC is far from the highest growth so therefore, for what many in this thread are doing, BTC wasn’t the best place to put their money today. Im not sure why you don’t get that or why you’re so aggressive and condescending about it. If you want to be cunty that’s fine but don’t be a bitch when someone tells you you’re cunty
If eth is a better store of value than btc (as you argue), then btc should go to 0 or largely have its market cap eaten into by eth, much like btc is doing to gold now. Btc's market is as a global store of value, reserve asset, etc. You're saying eth is better. It's unclear to me how you're even approaching the market. Highest growth? Are you just looking to short-term trade alt coins and looking for something with high upside? Because sure, BTC is not the place to do that. If you're looking to gamble, then good luck in the alt coin casino. LUNA is down 12%, TRON, VET, and XRP pumped recently, etc. Every single one of those comes with risks, as does btc obviously, but the short-term potential for something to go up rapidly (or down rapidly) doesn't make it the best place for your money. If the question is the best place to put your money and leave it alone for 5-10 years, then I'd suggest that's not TRON, VET, or any other alt coin.
have a crumb still in gbtc but mostly back into traditional investments, think crypto could get bumpy here for a while