Bitcoin vs EthereumViés de alta
Is the merge the catalyst of the ETH flippening?
Atualizado
It is incredible to see the spotlight on ETH as the MERGE is all the talk on Bloomberg and CNBC. This narrative will only get louder as we near the long awaited celebration of POS.
The next comparison we should investigate is the trend as far as market dominance is concerned:
Likewise, we can see the recovery in ETH has been superior to BTC. In fact it seems that on days we drop, like yesterday Bitcoin falls harder, while on positive days Ethereum outperforms.
As I stated Ethereum has the Alpha. That analysis is linked below (Related Ideas) for those interested.
Jung stated that for a tree to reach heaven, its roots need to grow to hell. Likewise like everything in crypto: IT WILL EVENTUALLY CRASH
I do not recommend chasing price. I already am long, however I plan to add to the position in the buy zones as labeled below. If we break above the EMA ribbon, I then simply plan on buying even at a higher price & then letting the winner run:
Let's talk about practical utility.:
--> Bitcoin does have use in El Salvador, and the finance minister Alejandro Zelaya said bitcoin adoption has been beneficial to El Salvador's unbanked population. Citation available below.
-->Visa and Mastercard announced settling transactions with the ETH token USDC. "The credit card provider that moves billions of dollars each day in 200 markets today announced it accepted the first settlement payment in U.S. Dollar Coin (USDC), a cryptocurrency pegged to U.S. dollar in a 1:1 ratio, from its global crypto wallet partner Crypto.com over the Ethereum blockchain." Citation available below.
-->The European Investment Bank (Partnered with Goldman Sachs) issues its first ever digital bond on the Ethereum Blockchain. "The EIB launched a digital bond issuance on a blockchain platform, deploying this distributed ledger technology for the registration and settlement of digital bonds, in collaboration with Goldman Sachs, Santander and Societe Generale." Citation Below.
--> The Reserve Bank of Australia released the positive results of their research project "The project involved the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC that could be used by wholesale market participants for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform." Citation Below
Citation:
China Coal * https://www.bloomberg.com/news/articles/2022-05-17/china-makes-a-comeback-in-bitcoin-mining-despite-government-ban
El Salvador Finance Minister https://www.bloomberg.com/news/articles/2022-07-28/el-salvador-s-bitcoin-bet-is-working-finance-minister-says#xj4y7vzkg
Visa Will Start Settling Transactions With Crypto Partners In USDC On Ethereum https://www.forbes.com/sites/ninabambysheva/2021/03/29/visa-to-start-settling-transactions-with-bitcoin-partners-in-usdc/?sh=109c49615228
The European Investment Bank Digital Bond https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain
Reserve Bank of Australia Public notice https://www.rba.gov.au/media-releases/2021/mr-21-30.html
Project Atom Research Paper https://www.rba.gov.au/payments-and-infrastructure/central-bank-digital-currency/pdf/project-atom-report_2021-12.pdf
- Daily Transactions on network: ETH 1.3m BTC 225k
- ESG Goals: ETH will be 99.95% more efficient than Bitcoin. Bitcoin, is still being mined by China Coal - *Bloomberg Citation
- Total Value Locked: ETH 34.1b Billion, Bitcoin $0
- Staked: ETH has over 11% of circulating tokens staked. Bitcoin has 0 staked on network.
- Hodling Rewards: ETH Staking Rewards are estimated to be 5.5-13.2%. Bitcoin does not reward holding with passive yield.
- Tokenomics: ETH will be cutting new issuance by 90% (equal to three bitcoin halvings). While burning ETH in every transaction making it deflationary. Bitcoin is increasing supply for another 140 years as the underlying supply inflates. Deflation will decrease supply of tokens making the price of eth rise. Bitcoin increasing the supply of tokens will make the price of bitcoin drop - (Miner pressure). Bitcoin would need to see over 20m of inflows daily just to break even due to mining selling pressure. Just because there is a cap, does not make Bitcoin protection against inflation. Bitcoin itself is inflationary like fiat.
- Security: According to the report just released by ConsensSys today, Ethereum's network post merge will be up to 20 times more secure. Eth2.0 is significantly more secure than Bitcoin, as for $3-13 Billion USD (chump change for America/China/UK/Australia/Japan etc) Bitcoin's network could be taken out with a 51% attack. There is a misleading idea that to have a 51% you would need 51% of the tokens, this is incorrect. As for eth, you would need over 51% of the validators. ETH is more secure, as a malicious actor would need to spend billions on acquiring more eth, to then run more validators which would make the price of eth skyrocket ever more. Possible yes? Realistic LOL no, as all the while they will run the risk of getting their staked position worth billions slashed, which again would lead to more eth scarcity bringing the price up ever higher.
- Future outlook: Bitcoin is done as upgrades are ill advised. If Bitcoin were to be fixed (POS) the network would fork again as the miners are making fortunes dumping newly created (inflation of bitcoin supply) tokens onto bitcoin holders daily. ETH post merge, has a lengthy roadmap that includes sharding, this will finally tackle the fuel fees (making the cost to use the network significantly more economical), increase scalability, speed and capacity of the network.
The next comparison we should investigate is the trend as far as market dominance is concerned:
Likewise, we can see the recovery in ETH has been superior to BTC. In fact it seems that on days we drop, like yesterday Bitcoin falls harder, while on positive days Ethereum outperforms.
As I stated Ethereum has the Alpha. That analysis is linked below (Related Ideas) for those interested.
Jung stated that for a tree to reach heaven, its roots need to grow to hell. Likewise like everything in crypto: IT WILL EVENTUALLY CRASH
I do not recommend chasing price. I already am long, however I plan to add to the position in the buy zones as labeled below. If we break above the EMA ribbon, I then simply plan on buying even at a higher price & then letting the winner run:
Let's talk about practical utility.:
--> Bitcoin does have use in El Salvador, and the finance minister Alejandro Zelaya said bitcoin adoption has been beneficial to El Salvador's unbanked population. Citation available below.
-->Visa and Mastercard announced settling transactions with the ETH token USDC. "The credit card provider that moves billions of dollars each day in 200 markets today announced it accepted the first settlement payment in U.S. Dollar Coin (USDC), a cryptocurrency pegged to U.S. dollar in a 1:1 ratio, from its global crypto wallet partner Crypto.com over the Ethereum blockchain." Citation available below.
-->The European Investment Bank (Partnered with Goldman Sachs) issues its first ever digital bond on the Ethereum Blockchain. "The EIB launched a digital bond issuance on a blockchain platform, deploying this distributed ledger technology for the registration and settlement of digital bonds, in collaboration with Goldman Sachs, Santander and Societe Generale." Citation Below.
--> The Reserve Bank of Australia released the positive results of their research project "The project involved the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC that could be used by wholesale market participants for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform." Citation Below
Citation:
China Coal * https://www.bloomberg.com/news/articles/2022-05-17/china-makes-a-comeback-in-bitcoin-mining-despite-government-ban
El Salvador Finance Minister https://www.bloomberg.com/news/articles/2022-07-28/el-salvador-s-bitcoin-bet-is-working-finance-minister-says#xj4y7vzkg
Visa Will Start Settling Transactions With Crypto Partners In USDC On Ethereum https://www.forbes.com/sites/ninabambysheva/2021/03/29/visa-to-start-settling-transactions-with-bitcoin-partners-in-usdc/?sh=109c49615228
The European Investment Bank Digital Bond https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain
Reserve Bank of Australia Public notice https://www.rba.gov.au/media-releases/2021/mr-21-30.html
Project Atom Research Paper https://www.rba.gov.au/payments-and-infrastructure/central-bank-digital-currency/pdf/project-atom-report_2021-12.pdf
Nota
White House Crypto Assets and Climate Change Report: whitehouse.gov/wp-content/uploads/2022/09/09-2022-Crypto-Assets-and-Climate-Report.pdfNota
Nota
-->Norwegian central bank uses Ethereum to build national digital currency
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