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

Compliance Engineer

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

For me quite simply this is a matter of apples and oranges. Bitcoin is a store value item. The problem is just like every other bit of wealth in the world bitcoin will soon be owned and controlled by the 1%. And at that point its value will be determined by them and how they choose to play the market. Ethereum on the other hand, is a utility. It is a proxy mechanism for enabling smart contract interaction. Just like every other alt coin that runs on Ethereum. By design they are not meant to be valued the same as a store of value like bitcoin. Ethereum and every coin that runs on it is by design a proxy mechanism for interacting with a smart contract associated with that project. I can’t understand why people say that the market determines the value of these alt coins. By design value of the token should be determined by the value of the service or product you are receiving from your interaction with that project smart contract. For example, let’s look at the decentraland project and it’s native token Mana. In order to purchase land or wearables or anything else within the project you will need a proxy Mechanism to interact with that smart contract to facilitate your transaction. That proxy mechanism happens to be an alt coin called mana. Without that token you cannot facilitate your transaction. So what is it that gives Mana It’s value? Supply and demand from the market? Supply and demand for Virtual property? Ethereum in my opinion gets its value from the projects that are built on its platform and the ease with which these projects interact with Ethereum. Is this reason I feel that bitcoin should not be compared to Ethereum at all. Apples and oranges. When all of the bitcoin has been mined it will be owned and controlled by the super wealthy. Ethereum will provide more opportunities to gain wealth too more people across the world. The burning of Ethereum in my opinion is not the proper course to follow to gain wealth or value. Lowering the transactions fees and developing Ethereum into a more agnostic Platform Will increase its value and desirability. These opinions are my own based on observations study and research over five years. Most will say that my opinions are way outside the box and don’t conform to typical consensus in the communities. Take it as you will.

Cryptocurrency & DeFi Expert

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

No, it will not. First of all, Bitcoin is made to easy p2p transactions for transferring store of value between destinations (wallets) in a permission-less way (no need for middleman) . On the other hand, ethereum was made in the same way but latter introduced smart contracts and dapps to decentralize peoples interaction regarding to information and finance (DeFi). That brought internet 3.0 out for us. Ethereum has no maximum coin supply but Bitcoin has. Ethereum creates coin based on inflation rates to stabilize supply but will create scarcity by introduced fee-burn mechanism. However, Bitcoin is just 21M token and no more will be created. Period.

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.

BlockChain Polymath

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

Ether is a utility coin/token. So it can’t be compared with Bitcoin, which is presently a store of value. The EIP-1559 will not be able to resolve the “gas problem” for Ethereum rather the burn will have a negative effect on network security. Ethereum can build its monetary advantage by providing better services as “The World Computer”.

An experienced content creator and digital marketer. I am a seasoned crypto enthusiast

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

Of course definitely. From all indications, it is vivid that bitcoin is far valuable and dependent than Ethereum. However, the supply burning move has proven to be a successful method over time to increase the value of a coin or token within the cryptospace. The burning will definitely contributes to its scarcity, its scarcity will in turn attract more investors with long term view.

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