I've been thinking about whether to accumulate more Bitcoin or more Eth recently.
I can't see BTC pumping without ETH following, while I can see ETH pumping and people selling BTC to get more into ETH
My heart is telling me to pile into Bitcoin - I like the limited supply, and the security of it, and the mystique and status it got due its being the first crypto.
HOWEVER I am coming round to thinking that the primary use cases that would really pump the BTC price - of BTC as store of value and a new global standard - don't really hold up.
I mean I keep asking myself 'why Bitcoin in-particular'? And I honestly can't answer that question.
(NB I think the energy use is a non-issue, total hypocrite FUD and easily solvable given that we can just switch to renewables).
ETH on the other hand....
Well Eth just has more utility doesn't it ! With DEFI and NFTs already well-established and some plans in the pipeline to make the network faster and cheaper, and possibility of ETH becoming deflationary, all of that together just points me at ETH and away from BTC
And yes there are competitors to ETH - but where DEFI is concerned, I think people will migrate away from BNB and its centralised operation (I mean NO ONE TRUSTS BINANCE) eventually and while there are smaller chains which offer superior functionality I'm not sure any of them have the dev teams to make them scale at the pace of ETH.
And (ironically) I think here the fact that ETH is the first Smart Contract chain counts for something - it's just gone through so many more iterations than its younger competitors.
Another thing is that IF BTC Pumps, ETH will probably follow, if ETH PUMPS and not BTC, I can see a fair chunk of BTC making its way into ETH.
And then there's the fact that ETH offers people a way to yield from staking, so if people are buying BTC as a hedge against FIAT inflation, well ETH kind of does that better because of its yield earning potential.
And then there's this....
ETHBTC is a rare buy signal ATM.
(But of course that might just be ELON again.)
I wouldn't bet against BTC in the long term, I certainly DON'T think we're going to see the price fall below $20K, but I get the feeling BTC is going to become like a sort of status coin - owning 1 BTC will be a status symbol, kind of like gold, but with less utility.
I personally would like 1 whole BTC, I could in fact buy one whole Bitcoin right now, but I'm not doing so, I can't see the point, ETH just seems to have more utility and more upside potential at the moment.
And with SOME of my BTC locked into CubDefi and some other CEFI funds - well I'm earning some in interest, I'll be a one coiner by the time I die anyway, that's good enough for me!
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