Really good question
Bloomberg analyst Eric Balchunas, a renowned ETF expert, raised a good question yesterday: While Bitcoin has an easy USP that every Boomer understands („It’s digital gold.“), how do you sell an ETH ETF to those people aged 50+ years? What is Ethereum, explained in an easy to understand one liner?
Here are some great and often funny results that came up on X in the comments under Erics‘ post:
Famous Bitcoiners answer
Quite good alternatives
Most funny answer - selling ETH as commodity 😂
My favourite explanation
First if all, as you probably know I like Bitcoin and see it as an excellent decentralized store of value. But I am not a Bitcoin Maxi in the sense that all other projects are shitcoins. I also hold altcoins and I see that they also have value and use cases.
Regarding ETH I like the understanding of it as being kind of a Digital Oil. You use it to make things happen in the Ethereum ecosystem and in that way it’s a productive commodity.
BUT that is also true for many other coins like for example HIVE or SOL, DOT or ADA. There is many sorts of digital oils if we want to stay in that picture, like there is crude oil, WTI oil and all sorts of vegetable oils like olive oil etc. And probably we will see ETFs for many of them in the future too. So while the „digital oil“ comparison is kind of comprehensible it is not so easy to estimate the potential of each of them and with that the upside potential regarding their market value.
So I think the ETH ETFs could be sold to Boomers using the idea of it being some kind of digital oil but the narrative of Bitcoin being digital gold is in my view stronger.
What do you guys think about this topic? How would you sell an ETH ETF?
The biggest mistake we make in crypto market is we don't get profit people who bought at 800 should get profit at 3200.
I’ve got no idea if I’d sell or not but let me follow the lead😅
Well bro I've always found that building trust with customers is key. When you genuinely understand their needs and offer solutions that add value, selling becomes more about relationships than transactions. Great blog as always man 🫡
Thanks! 🙌🏻😇
You're most welcome my good friend
As a crypto baby, I’ve got no idea but I’m here to learn😁😁
👍🏻
Digital oil is a good slogan. But there used to be Standard Oil, a quasi monopoly until it was broken up.
Ether will probably not become a monopoly, but it enables many applications and use cases.
Agree 👍🏻
A one-liner?
I would use something like "smart money - literally" due to its groundkreaking feature of the smart contracts.
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