increase: 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.

Civil Engineer

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

Ethereum will develop a strong monetary advantage as ETH supply starts being burned, EIP 1559 will increase transactions on the Ethereum network and raise the use of ether, which will likely help bring a wave of institutional investors into the market. This will be a threat to Bitcoin as investors will likely go for ethereum considering it's cheaper and has a high level of bringing return on investment.

Full-stack Developer

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

It possibly will cause, the act of burning effectively removes tokens from the available supply, increasing its relative scarcity. And scarcity will definitely lead to increase in prize, reduction in inflation rate as well.

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.

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

designer

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

The general mining profitability should not change dramatically when Ethereum supply starts to be burned. This will lower a circulating supply of ETH and should, in theory, will trigger a a price increase. and by doing so getting a step forward to reach out to where bitcoin has been few years ago

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.