Topic: Eth being sold to buy Sol - meanwhile BTC keep winning... - page 4. (Read 703 times)

Agree. I think the key point is this. There is only one Bitcoin, and the supply is finite. However, there are an infinite number of shitcoins, hence they literally will dilute themselves to zero. Hence, ultimately all shitcoins do is suck some value from BTC and fiat to shitcoin founders, and eventually it will almost all end up back in BTC...

For me when I talk about cryptocurrency what I know is bitcoin vs shitcoins, and for that we have to be clear on what we want from the market, because for some set of forks, bitcoin is currently overpriced and so expensive for them and that why they take altcoins like Ethereum a d other shitcoins as means of investment such as solana and the rest of the shitcoin that wipe out billions of investments due to crash and other attacks that are influenced by the developers or others around the team, this have become a pleague in the market recently.

For sure when you want to start well then you should focus on bitcoin and no other coin because by focusing on altcoin, you will be missing the fundamental aim and failing to reach a positive point.

Bitcoin is winning now It is only natural that those who have been holding or investing in BTC for a long time now is the time to profit from it. BTC will do much better in the future and better times are ahead for those who hold or invest for the long term.

Solana, although a very exciting coin at the moment, was not doing very well a few days ago. Solana I had a similar trick earlier this year but sold out after I kept them for a while. But to me this Solana seems to be a very risky coin. I lost like 50$ from here before but later recovered that loss from Solana. I don't know if this will overtake eth but I think it is not that easy to overtake eth.

Lol, well said. And fully agree. Once everyone in the circle jerk blows their load, they will all go limp, and then the fun stops... LOL

I am a BTC maxi in the sense that I believe is, should be, and will be, the best digital global store of value.

That does not mean that I cannot buy a shitcoin, knowing full well what it is. The Sol I have I am not buying for its store of value properties, but rather purely for speculative purposes. I believe we will continue to see ETH outflows to SOL, and I am prepared to make a little profit from those who engage in shitcoinery. I also own some Filecoin, which I value pretty much just like equity in a company (and I also have shares in many listed companies).

But trust me - I am a hard core BTC maxi.

Ethereum's problem -- and potentially the problem of all "Ethereum killers" -- is that it still hasn't found really a killer app. There are lots of DeFi applications but they aren't solving real world problems. They are only used for speculation, be it memecoins, yield farming etc. . It's basically a big circlejerk ecosystem. The best bet for a future killer app are still DePIN and algorithmic stablecoins but besides of Dai there isn't really a project that stands out and has become popular.

And ETH's unique value proposition is eroding because it's easy to start a blockchain today. There are many open source projects and libraries you can use, and thus the only challenge is to market it and position it in the 2000+ blockchains space.

I however don't believe coins like Solana have better long term possibilities. Solana is a big block coin with enormous requirements for full nodes, which harms censorship resistance even more than on ETH. I believe ETH's 2-layer model is in general more sustainable than SOL's monolithical model. However, it provides currently cheap fees and thus a lot of small speculative projects (memecoins and DeFi apps) are using it. In the short term, it may continue to bite a bit of ETH's market cap. The distance between both is still significant.

Will Bitcoin profit from this "leveling out" in the altcoin space? I'm divided on this. I think on one hand it's good that the "flippening" narrative has nearly died. But in reality, Ethereum was never really a competitor to BItcoin. Both cater to very distinct markets. Bitcoin to the currency/store of value market and Ethereum to the "smart contract platform" market.

The most ridiculous thing is that those that want to position ETH on the "store of value" market competing with BTC (the sound money camp) depend on ETH's transaction fees being high because a part of them are burnt (so this lowers inflation). But high transaction fees harm the smart contract ecosystem and benefit competitors like Solana ...

If BitVM + Bitcoin second layers advance there may be even competition from Bitcoin in the smart contract market, harming ETH's value proposition even more ...

Don't claim to be Bitcoin maximalist when you're buying SOL which is another shitcoin?

Being Bitcoin maximalist only believe in Bitcoin and don't care with any other coins especially the centralized ones.

It's true that Bitcoin keep winning in the end, but most investors are more interested with the coins with make them get rich overnight instead of slowly accumulating and strengthen their income.

Solana was once a top performing altcoin but lost it's charm in the bear market.
It is making a good progress now and made a pretty good comeback but I am not sure if it will be able to sustain the growth.
ETH on the other hand is losing it's potential growth. I must say that ETH should have been around $4k right now but isn't.
If it keeps losing it's growth like this then other altcoins will soon take it's place and it won't remain the next best crypto after bitcoin.
Although it is still on the 2nd rank, it needs to show a steady growth to remain on that position.

Bitcoin investment is simply a choice. Many bitcoin HODLERs actually plan on hodling for long term because that's when it's actually possible to cancel out the economic effect of inflation, coupled with the fact that long term hodling is actually more profitable except of course you are a whale.

Solana has been making nice progress for quite a while now and in my opinion I'll say that is as a result of numerous tokens launched on it's network over time. Yes solana is progressing however I really think it's going to take more than that to beat Ethereum.
The idea is shit coins aren't worth the risk to many people although it's high risk also suggests faster returns in a short period of time.

Hmm, well let me ask you - if you were investing in an alt this cycle for max risk /reward gains, and you had to choose between eth and sol, would you choose? I know what I would choose - SOL. The narrative, among other forces are working against ETH for a long term progressive systemic decline...

As for me, to be clear, I am a BTC hodler and accumulator. I have a tiny both Eth and Sol just for a bit of speculative fun, and so am quite happy to see Eth's ongoing decline. As for those losing money on Eth, I am not overly sympathetic. The really brought this misfortune on themselves, and none really want to be the one holding the bag as the ship slowly but surely sinks...

Fully agree. PS - Your reply is written almost exactly in the style I write. Its almost as if I wrote the reply myself. Spooky

Well a shitcoin is still a shitcoin despite how we would like to put it.
It's collapsing and solana is making wave isn't going to be forever.
They come and they go and Bitcoin still remains.
But I doubt this is the end of Ethereum and if solana can really overtake it.

There is no denying that ETH is the worst performing altcoin among the top altcoins and solana is emerging as an ETH killer in this year's cycle. But with what is going on it is silly to rush to assert that ETH will collapse soon, it is still too early to say whether sol will replace ETH or ETH will collapse.

The altcoin market is purely speculative so it is no surprise that most people put their faith in ETH and the projects on its chain and expect to see significant returns like previous cycles. But things did not go as expected because that is the nature of speculation, and market makers always know how to take our money and that is the risk of speculation.
You are right, investing in solana will be a better option in this cycle but if we continue to believe that it will repeat in the next cycle then it is a mistake.


As for bitcoin, even if ETH does well in this cycle, it can never compete with bitcoin. Bitcoin is still king.

The story of Solana is very hot and many people nearly lost all of their fund with Solana. It has an amazing come back while in history of cryptocurrency market, many top altcoins died or lost their positions with time and could not get high positions in this market back.

Cryptocurrency historical data snapshot.

If you don't want to invest or store your wealth in Bitcoin, you can find the best altcoin, it's Ethereum. Solana is very risky choice in my opinion and if you get profit with Solana in this market cycle, in 2024 and 2025, I congratulate you but make sure you won't hold this altcoin in 2026 and 2027 when we will very possibly have other terrible bearish years.

In as much as i am a Bitcoin lover and have more Bitcoin than any other cryptocurrencies i won't say I would be happy to see Ethereum collapse
I, for one, do not consider Ethereum as a shit coin, but rather, I consider it as an alternative to Bitcoin
One thing is for sure Ethereum will never be able to surpass Bitcoin, but it still has a lot of potential, and is one of the few cryptocurrencies that has actually been doing well aside Bitcoin so i believe Ethereum will actually get back on its feet sooner than later this is just a rough time for the cryptocurrency

Fascinating to see Eth slowly collapse, with only the truest of believers remaining faithful, and the rest of those chasing the "next hot thing" moving from Eth to Sol / BTC.

As a BTC maxi, (other than some really minor alt dabbling), I have seen shxxtcoiners come and go, and each cycle lessons are learned. And still each cycles, new shxxtcoiners emerge.

To me it sees clear, that BTC has won the global store of wealth / defence against declining fiat narrative. So, that leaves ETH (once touted as an "alt" to BTC's core function, with that battle totally lost, and battling and infinite number of "better than ETH-alts". BTC is finite, yet these "better than ETH-alts" are infinite. And reality is, very few of those types of "investors" really care about technical aspects. They simply are chasing a quick gain.

Who wins most out of this? BTC.

I have challenged shxxtcoiners in the past to prove that they can outperform BTC. They all claim they can. But very few actually do in the long run.

United with BTC we succeed. And divided with (infinite) shxxtcoins the shxxtcoiners fail.