utility: 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.

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.

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.

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”.

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.

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.