cryptocurrency: 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.

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.

Consultant

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

My long term view is that the future looks much brighter for Ethereum, mainly thanks to its better utility. If it becomes deflationary and "green", the outlook gets even better. Bitcoin, on the other hand, the "inefficient cryptocurrency of criminals" as it's often portrayed, remains a good candidate for a broadly televised regulatory demolition. With that said, in my view they both remain more sensitive to arbitrary factors, from regulation to hype and celebrity tweets, than to their own fundamentals. For this reason I tend to look at them technically. Meaning: whatever the news, whatever the upgrades, wait and see what happens, then speculate with care.

Crypto Analyst

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

Cryptocurrency burning itself has advantages which is mostly that of reduction in inflation rate , scarcity cause quantity of total circulating supply will reduce which leads to prize increase in most cases. with this, i think Ethereum will have a good chance being a threat to bitcoin.

Law Office

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

I don't think ETH threat to other cryptocurrency. As green energy being issue for couple month, it was great move by ETH Foundation to move to other mechanism as POS instead of POW.

Blockchain enthusiast, interested in crypto projects that are solving real world problems.

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

Ethereum as a strong contender of bitcoin has the potential of replacing bitcoin as the number one cryptocurrency. Alot of folks and institutions consider bitcoin to be a store of value which is a solid characteristic of money, as well as a hedge against inflation and that is what it's created for. Ethereum on the other hand operates mainly as a utility token, alot remains to be seen, putting into consideration the various forks and upgrades coming onto the Ethereum network. Bitcoin in my opinion is the King and will remain so for a long time.

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