/biz/ - Business & Finance

>>16897297
I disagree. I think BTC will be the default SOV for ETH and eth will just be gas for the network. Every defi project is licking their chops at the prospect of btc as collateral.

>>16897355
But I think ETH will capture a significant amount of the whole crypto market

>>16897355
can anyone tell me what utility btc actually provides other than its market cap? the transaction speed and electrical requirements are serious problems

>>16897709
This x1000

Strong token market fueled by gas means ETH gains will be strong. For every token created and used, ETH gains value. Even shit token creation and use fuels ETH value. ETH will never hit BTC values, but its utility to fuel the network for tokens cant be downplayed or ignored. ChainLink takes off and gains? So does ETH. BAT gains? So does ETH. BNB continues to grow? So does ETH. Anyone investing in tokens is also investing in ETH. ETH is the core, the gas, that fuels the ERC-20 market. I shill for all tokens because they help build value into and for ETH.

>>16897709
>>16897932
yes, the growing environmental concern regarding the electricity costs of BTC mining could become a big problem

>>16897932
So its just better to buy ETH and forget about all other coins? Keeping track of 100 coins is a pain. Most of them might be to 0.

>>16897297
Based
t. All in eth anon

>>16897297
Unlimited supply.

>>16898152
Yes. ETH is the best buy in all of crypto right now. It should be your largest position.

>>16897709
>>16897932
>>16897962
The current market has absolutely no need or desire for cryptocurrencies with fast transactions or smart contracts. If you look at usage statistics of dapps and other fast tx, low fee coins they are absolutely abysmal. People vote with their wallets and the only thing the current market is showing any indication of wanting is a non-soviergn, secure, store of value. Nobody is using dapps, nobody is using fast, low tx coins. 95% of all crypto economic activity is done through Bitcoin. You are playing a fools game by speculating what the next killer crypto application will be when the market is as novel as it is today.

Bitcoins electricity consumption is not an issue, it is the biggest factor contributing to its security and success. Most mining is powered by renewable energy sources and fosters the expansion of green energy through a global electricity arbitrage that was never possible until Bitcoin. Now the best sources of renewable energy can be tapped regardless of the local populations power needs and green power companies can be subsidized by Bitcoin production. Bitcoin will do more for the advancement of green energy than any other government program on the planet combined. Bitcoin will save the world from its fossil dependence, not make things worse.

>>16898235
>non-soviergn, secure, store of value.
that’s not bitcoin though. it’s volatile, controlled by whales, and “stores of value” are irrelevant in the modern economy, what people really want are investments. defi, eth, smart contracts, etc are of passing interest to me, but I wasn’t asking why the market *should* favor those things over btc, but rather what btc actually provides from a technical standpoint that makes it attractive. It’s not useful as a currency, and if you insist on locking your liquidity in an asset, even PMs are a more stable “store of value” than BTC

I also sincerely doubt both of your claims re: energy, I thought Chinese miners relied predominantly on coal

>>16898235
This is exactly what a coping corecuck would say. I’d suggest doing some research so you don’t come off so tech illiterate next time.

>>16898277
Don’t be mean

>>16898268
The majority of Chinese miners rely on Chinese and Mongolian hydroelectric dams. Hydroelectric is the cheapest energy source, its why most Bitcoin mining is powered by hydroelectric.

Price is not a function of Bitcoin, whales do not control the chain, they may control price. Moot argument. Stores of value are not irrelevant in the modern economy, that is the most idiotic thing I have ever heard. If what people really wanted were “defi, eth, smart contracts” we would see their usage eclipsing Bitcoin but they don’t and all of their economic activity combined is a fraction of Bitcoins. Bitcoins value is not derived from being a transactional currency, that is not why people want cryptocurrency right now. You cannot deny usage and user statistics, Bitcoin eclipses every single other cryptocurrency combined because the market likes what it offers.

>>16898277
You are a waste of time.

>>16898235
this level of cope

>>16898334
Everything I have said is reflected by the reality of the market and chain data, you seem to be the one “coping” here.

>>16898235
>Bitcoin will do more for the advancement of green energy than any other government program on the planet combined. Bitcoin will save the world from its fossil dependence, not make things worse.
Exactly

>>16898235
Very based
>>16898268
Its not hard to keep its USD value, open a short to make it all equal out USD wise.
It most likely is coal ATM, but, power plants are set up to out put a certain amount of power, they don't change the out put. hence why we have street lights to 'waste' that power, that gets used by businesses during the day.
>>16898277
Try not to sound like some zoomer next time

>>16898327
Seething Bitcoiner LMAO

>>16898370
Kys weirdo

>>16898370
>>16898327
Fuck off samefags. No two people could actually be this retarded Kek.

>>16898177
Mfw ETH is my largest position and PNK is my largest alt. (ETH isn't an alt). Must be doing something right.