Torn between ETH and BTC

[Anonymous No.49815475]

I absolutely hate ETH for many reasons.

>premined
>allows scams like wBTC and USDT to exist

but smart contracts have more in terms of usage than Bitcoin and at the end of the day, the chain with most usage wins, correct? Should I leave my dignity out of this and bet for the devil's work (ETH) or be a good boy and DCA into BTC?

[Anonymous No.49815548]

>>49815475
>Should I leave my dignity out of this and bet for the devil's work (ETH)

part in btc, part in eth, part in xmr to compensate the negative karma of investing in eth.

[Anonymous No.49815567]

>>49815475
>but smart contracts have more in terms of usage than Bitcoin
What makes you think Ethereum has a hold on the smart contract space? Keeping track of code execution on a public ledger is extremely inefficient. Ethereum cannot scale and will be replaced by an infinitude of lesser chains for state tokenization, with execution and inter-chain trust minimization delegated to the oracle layer.

[Anonymous No.49815690]

>>49815567
More devs, first mover advantage, most wallets. Don't you think L2 services will solve the scaling issues? Admittedly they will make Ethereum censorable but something's gotta give.

[Anonymous No.49815717]

>>49815567
Besides, I don't seen any legitimate competition in the smart contract space right now. I wanted Polkadot to win but it turned out to be centralized garbage. Look at this:
https://www.reddit.com/r/dot/comments/qdj64e/we_dont_have_a_full_control_of_our_tokens/

[Anonymous No.49815743]

>>49815717
*see

[Anonymous No.49816492]

>>49815690
>More devs
Devs will go where the utility (or money from their perspective) is. The "community" angle in crypto is always phony.
>first mover advantage
This was an argument before the L1 bull run. Do we still have any doubts the average person will flock to CBDC chains when they're available?
>>49815690
>Don't you think L2 services will solve the scaling issues
No, they will only improve it. Rollups that can actually scale are just private L1s with poorly balanced compromises for validators, except one that pushes state on-chain for no reason. Computation is set to see a huge improvement and get less expensive by two or so orders of magnitude, but that's still like 10 orders from the cost reasonable enterprise will pay for a bunch of cloud servers with redundancy, and nowhere near what you can get with a proper oracle model. Forcing the round peg of computation into the square hole of blockchain validation is an ill-conceived compromise in distributed systems tradeoffs.
>>49815717
>I don't seen any legitimate competition in the smart contract space right now
Yes, because there isn't. We need to see the oracle layer take shape in its specifications before smart contract platforms with realistic, real-world commercial applications can take shape without being mere toys that take on insurmountable technical debt to be able to work at all in the primitive landscape of the current market.

[Anonymous No.49816737]

>>49815475
If eth 2.0 puts its shit together (big if), normies will see it as the ecologically friendly cheap new bitcoin, and will pump like crazy.

[Anonymous No.49816780]

>>49816492
>Do we still have any doubts the average person will flock to CBDC chains when they're available?
I have my reservations about this. Why would someone give his money to an entity that may never return it to the depositor? The Canadian truckers occupying Ottawa saw their assets frozen. Custodial and trusted services are clearly against the interest of the common man.
>Rollups that can actually scale are just private L1s with poorly balanced compromises for validators, except one that pushes state on-chain for no reason.
What are your thoughts on Lightning, Avalanche subnets and Polkadot's parachains architecture?
>Yes, because there isn't. We need to see the oracle layer take shape in its specifications before smart contract platforms with realistic, real-world commercial applications can take shape without being mere toys that take on insurmountable technical debt to be able to work at all in the primitive landscape of the current market.
Are you referring to Chainlink or some native oracles?