btc: ETH vs. BTC: Is the Flippening possible? (EIP-1559 impact)

IT Consultant / Certified Crypto Trader

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

We have seen several projects to be targeting both BTC (such as BTG, BCH, BSV) and ETH (EOS, QCK, BNB, eGLD, ZIL etc) with new innovations such as speed, scalability, and user's experience but none is really coming close except BNB which is widely adopted when developer want to sacrifice cost as against seamless user experience and ETH is about to get that resolved. I cannot see ETH threatening on BTC to have a huge impact both now and in the near future. BTC is limited in supply and it is argued severally that BTC might not be more than 16 Million as against 21 Million of total supply as many has been lost during the early stage when BTC worth less than a penny to addresses that private keys was not properly kept. Additionally, the deceased person that got in early and did not pass the private key to anybody is also inclusive, such addresses have no transaction for over a decade. ETH was not created to compete with BTC but as a platform for dApp. BTC is a store of value and poss to replace the traditional mode of currencies. When any thought comes about cryptocurrency, Bitcoin is the first to reckon with, the dominance is huge and most investors feel comfortable with BTC despite its volatility. While ETH keeps on to evolve is the platform that many people see as the future of blockchain, as of now, the platform holds over 70% of DeFi (Decentralized Finance) projects and the ETH 2.0 and EIP-1559 that may likely happen in this quarter, a lot of issues will be addressed which will make it retain its relevancy and gain more dominance in the crypto market share index but I don't see it competing with BTC anytime soon with the huge supply despite the approach of strategically burning the total supply.

Technology - Finance - Operations - Sales - Marketing - Business Development - Leadership - Coaching - Non-stop Achiever

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

Ethereum will struggle to overtake bitcoin because of the relationship between their market values and the cost competition for decentralized compute which is Ethereum's primary advantage. It is not advantageous to the Ethereum virtual machine economics to have a deflationary policy on Ethereum as it will stifle development as competition experiments with various monetary policies, and uncovers more productive models of monetization. ETH may still become a threat to BTC if the community chooses to treat it more as store of value and reprioritized away from the scalability and economic viability of compute (blockchain 2.0) cababilities.

Crypto researcher and writer- Copywriter

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

ETH has the potential to outcompete BTC. There are several factors for that. 1. ETH has more utility than BTC. This is because many DAPPS exist on ethereum network. Currently, the popularity of NFTs push the price of ETH up. 2. Yes, the issue of the introduced deflationary nature of Ethereum will come in. However, assessing this against the BTC is not the best predictor of which will perform better. It is unlikely that the circulating supply of ETH will decrease from over 100 million to less than 21 million. I do not think this factor in so much. If the London upgrade brings down the transaction cost of ETH, that will be a turning point for its price. This is because more people will adopt it.

Full Stack Developer / Crypto / Blockchain

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

Nowadays, investors and traders are also checking the use-cases of cryptocurrency. If we are talking about Bitcoin and ETH (After EIP-1559 implementation), definitely Ethereum will have more use-cases over Bitcoin as ETH will be approaching ETH 2.0 after implementation of the hybrid system (TIP+ Basefee burning feature). Basefee burning feature will be inspiring to create more scarcity for ETH and it will get more expensive over time. In the case of Bitcoin, it is hard to integrate the blockchain-based applications due to some complexities on the Bitcoin blockchain itself and the disputable energy consumption is becoming another major issue for BTC. IMHO, ETH is not a threat to Bitcoin but it is going to be a dependable alternative of BTC itself.

Crypto and startup advisor | Project developer | listing agent

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

Ethereum will never dominate Bitcoin. It may overtake it after capitalization, but Bitcon will still be Bitcoin. However, Ethereum is more likely to be overtaken by any other project working in the area of smart contracts and blockchain mass usability. Bitcoin and Ethereum are two different projects that cannot be compared in this way, as the purposes of BTC and ETH are completely different, just as their usefulness are different.

Aspirational Whale

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

My feeling is that BTC maintains a first mover advantage as well as relatively small and FINITE circulating supply. As ETH goes to Proof of Stake, ETH will grow its community further and outperform BTC in the near term. BTC will maintain its valuation advantage for the next few years.

IT Manager

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

I think Bitcoin and Ethereum are not direct competitors and each runs its own race. I think they can rather complement each other and thus become stronger. For example, bitcoin already exists encapsulated in Ethereum: keeping BTC as a haven of value and taking advantage of access to more alternatives in ETH. If anything, Ethereum's exposure is such that it can no longer be ignored.

Blockchain developer

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

There's a high chance of Ethereum coming up with greater monetary advantage by constantly burning the number of tokens, the coin has more use case to BTC and the demand of the token coupled with the burning of existing tokens would certainly make it more of a monetary advantage than Bitcoin.

grafico

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

absolutely no ETH was created not to be an alternative currency, BTC yes! ergo ETH will never be able to have a higher value of btc despite the update, which in any case will increase its value, but it will never be able to exceed BTC precisely starting from how it was conceived in the beginning and its native characteristics

ingenieer

Will Ethereum develop a strong monetary advantage as ETH supply starts being burned? Would this be a threat to Bitcoin?

A simple answer to this question would be No. Despite most of the key indicators pointing to increased utility and network effects, Bitcoin is still king in terms of valuation and dominance. However, the possibility of ETH trading BTC cannot be ruled out and a look at the on-chain data will help to understand the likelihood of the same happening.

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.