Topic: Eth being sold to buy Sol - meanwhile BTC keep winning... (Read 674 times)

Many people make a profit from altcoins and invest all of them in bitcoin immediately when they see that particular coin reducing in price, but it's easier to make the statement like you have stated above, but one problem here is that sometimes you can't be able to monitor the market properly and might miss out on the opportunity to sell and take profit before it will start dropping.
 
Some altcoins, the moment they have hit new ATH and dropped down, it's very hard for them to rise back to that level again, and if someone misses such an opportunity, such action could be regretted since you did not buy bitcoin when you were supposed to because of the high hope you expect from altcoin.

You cannot ignore Ethereum. Ethereum is the second largest altcoin in cryptocurrency after Bitcoin. You are turning that ethereum into shitcoin so easily. Wait, be patient and see how Ethereum changes its price. Ethereum investors aren't going anywhere Ethereum investors are staying with Ethereum.  Here you find Solana Coin very good but nothing to make Solana Coin very good. We have seen Solana Coin go from high to very low so I think Solana Coin is a very risky investment.There is no investment more popular than Bitcoin. Bitcoin will be the best investment ever for everyone.

ETH is losing traction fast because of its limited transaction capacity and lack of new projects being built on its platform. Solana is faster and has attracted developers into building new and exciting stuff for it. You can see why it's full of hype. Unless ETH devs fix on-chain scaling issues, don't expect market prices to go anywhere soon. ETH should've been worth at least $5k - $6k by now.

Of course, nothing can beat Bitcoin. It's the best-performing asset on Earth. BTC reached a new ATH, while ETH is still struggling to get back on its feet. I get why there are so many people who're Bitcoin maxis. That's because no other chain is as reliable and trusted as BTC. Altcoins may have shiny-new features, but they're much more volatile and less reliable. Even ETH is starting to become centralized. I'd expect BTC to remain "King" forever. It's the reserve currency of the crypto market, anyways. Each crypto has at least a BTC trading pair. They can't beat the real thing.

BTC is for a reason the biggest one of them all due to how much skin people have going for it.
Not only common folk - but the big fellas with EFTs too.
It's inevitable that BTC explodes and currently is exploding to new ATHs every few days or so, because it's the nature of the cycles it has.
Just show the rainbow-BTC chart to people like that.

Yeah, and when there will be a correction, that would be a good time to get more BTC + alts to see how it goes. It's inevitable we will hit in after 100k or even earlier, so the thing is, if you want to go out, do it now if you are in - accumulate more as bullrun is moving through the market and BTC DOM is going up and then down.

In previous bullrun it was the NFTs that every influencer screamed about and how ludicrous they were, this time - it's memes.
Just get a 60 to 40 ration of BTC to big alts in your portfolio, and wait for the opportunities to arise. That's how I see it.

If BTC.D goes up 70% then altcoins will fall harder and I don't think anyone wants that except you. Many people say they only invest in bitcoin but even when bitcoin hit $93k, I didn't see many people getting excited which shows people have invested quite a bit in altcoins.

The altcoin market is pretty bleak, even worse than when bitcoin was at $50k a few months ago. But not all are bad investments and it all depends on your strategy. If you invest in Solana when it's only $13 or Dogecoin when it's only $0.08...and many other altcoins in 2022. Your profits will also be huge, no less than the profits from bitcoin. Not to mention, many people are making millions of dollars every day from memes like Pnut, Goat, ACT...don't forget we are in bull season and making profit from altcoins is much easier.

Investment profit depends on each investor's strategy and skills, don't blame altcoin or any investment if you don't make profit.

Honestly still expects BTC DOM to increase until 70% first before it's going down, but i might speculate that even if it's going down, doesn't mean BTC price gonna go down as well.
it seems like current alts that are doing pretty well are alt without VC investment, I think retailer have figured out that these in general are just bad investment.

BTC on the other hand just utterly dominates any alt at this point, so many people actually converting their alt to bitcoin at the time of speaking.

It unfortunately takes SO long before people finally realize that percentage is what matters, not the appearing value.  A lot of them purchase Ethereum or other Altcoins instead of Bitcoin because they think the price of one Bitcoin is becoming impossible to increase as much as the price of one Ethereum or other Altcoin is.  Which is obviously false, considering Bitcoin is the most used, very scarce and the most 'Trusted' Cryptocurrency out there.

They think it is more impressive that Doge Coin touches a Dollar than it is for Bitcoin to touch 200 thousand Dollars.  It is about perspective.  And a lot of people are lacking it.  I would be so Rich had I earned a Dollar for every time I heard or read somebody say Bitcoin can not explode upwards again.  And the same people saw it exploding multiple times upwards, to more and more All Time Highs, yet they still do not believe it can again.

After all.  It is their fault and a thing they are missing on.

Eth just now hit yet another record 3 year low to BTC. Man its gotta suck if you tried to outdo BTC with Eth or a shitcoin, only to fall behind never to be able to recover...

Facts,.

5515799
The Debate between Bitcoin and ETH about which one is a better performing asset over the years has long been won, and it's crystal clear that Bitcoin is the king of crypto, and I doubt if anyone can still challenge that. ETH is losing to SOL right now due to its high gas fees, all transactions that are carried on the ETH chain are on the high side, so who wants to spend high fees? Whereas there's a alternative way to the same thing with SOL, I don't think ETH has totally failed, since we now have more ETH burned, thereby reducing its supply.

The alts are going to propel with the BTC DOM index falling down, then, when they become overvalued, we will pour our funds back into BTC.
A cycle which never disappoints 

This is a show of supremacy between Bitcoin and Ethereum, it has always been like that, so no one is displacing Bitcoin from its rightful pioneering and most relevant position. ETH is also a good project, but with people's sentiment and peculiarity, what the project may offer may be put aside while the relevance and the popularity keep working for another, for it's the people's choice. Bitcoin is no doubt the people's choice, and when I say people, it's not only about you and I but also groups and businesses, so expect better days in Bitcoin's future.

Quite a lot of people are really earning money with this, and seeing the market at this moment makes it feel like it is going to be altcoin season soon enough. I believe it will go to Ethereum, then Solana, then other meme coins, and then back to BTC.

I think this is the current cycle, and we just have to wait and see and hope that our bets are correct.

Zoom out just a tad...

Its nice you are participating in the discussion, but this comment is seriously stupid...

"though eth/sol seems to be more affordably as of now"

Let me help you. If "affordability" is your concern, just buy Sats...

If comparing both network you would see that Sol is fast increasing in term of price than ETH but when talking about long term investment then we can choose Eth, though I am more passionate about Bitcoin but even though eth/sol seems to be more affordably as of now, from my view this market would mostly favor bitcoin the more than altcoin, even though lot of people has been saying that not yet for altcoin season i still believe they won't be that outperforming bitcoin.

You can certainly make sweet amounts of Money doing both Altcoin and Stock trading.  And you can outperform Bitcoin nowadays, but it involves an incredible risk not many should afford to choose.  A few hundred percent is what Bitcoin did last cycles, and this is something that is not impossible be surpassed.  The question is how.  How the hell do you pick the perfect Altcoins, withdraw at the perfect time and return with more Bitcoin.  I suppose you either need the experience and knowledge or to be simply lucky and hit the 'jackpot'.  Most of the time, you think you make a lot of Money and then you quickly realize you would of had more Profit if you simply held Bitcoin all the time.

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Has it really?  Seeing the Ethereum charts over the last few days I would have thought it was the opposite actually.  Very curious!

I am in the middle of this argument. I like BTC as it has got the biggest share of my portfolio, I own some ETH and that's why I also like it and seeing it move $3k, I'd say thanks to Bitcoin for making it happen again. Yes, thanks to BTC literally because whenever BTC moves properly and on a rising trend, all of these alts that are in the top are also moving on their own based on how Bitcoin moves, no doubt.

100% and this is no brainer.

I see most of the sentiment on this thread are widely around ETH not making it in this bull run. A lot of other eth holders share the same concerns and just when we thought eth was done for, the price started going back up. Solana has always been a top performer with plenty of room for growth while ETH has a relatively largely MC which means it is much harder to push very solana where a few billions means a lot.

ETH isn't going anywhere
Bitcoin will remain king
Solana will strive as long as their foundation keep subsidizing tx fee costs.

Infinite sum games guys.

The altcoin market is very competitive and hard to predict anything, ETH may be king for a long time but it is not irreplaceable but I think Solana is not a candidate to replace ETH. Look at the Solana chain, other than the development of Memecoin to attract cash flow, nothing is outstanding.


ETH is quite stagnant and Sol is emerging as a star but if we pay attention, the altcoin market relies on the performance of the ETH/BTC pair to decide the trend. The altcoin market remains stagnant as ETH fails to break out but things are looking better as ETH has broken above $3k. I believe this is a good sign for altcoins in the coming time and once again it proves that ETH is still the king of altcoins.

Me too, I still appreciate and believe in ETH more than solana. What will be the future of solana after this cycle when they have nothing but memecoin?

I think you’re right it think Solana is devaluing ETH because of this trade off and I have even thought about it myself but I don’t think that ETH is over or done for by any means. It’s so engrained in so much and I just don’t see it ever being completely abandoned. SOL though is emerging and for now might be a good play in the short term but long term I think I am more set on ETH

Though I am not a fan or investor of altcoin or shitcoin but I wouldn't speculate that eth will collapse because in cryto world, no body can fully predict wether coin A will outperform coin B. Despite the slow movement of eth, I still believe it to be the subsidiary of bitcoin because it has a high market cap seconding bitcoin. and also the second altcoin to have a reasonable amount alongside bitcoin. Apart from bitcoin most people preferably chose eth because it is more safe and secure than any other alt. It's growth is seconded by bitcoin because it grows slowly like bitcoin. I believe that if bitcoin grows drastically it will take the Leed. Bitcoin is x30+ that of eth, so for eth to increase tons reasonable price BTC being the father will have to make a push for eth to follow.

Eth today hit yet another 3 year record low to BTC. What an absolute disaster for anyone hoping to outperform BTC with an alt.

Well, with respect, people need to understand that whilst some traders "make more money trading altcoins compared to Bitcoin", overall more traders in total lose money trading altcoins compared to Bitcoin. Its a mugs game. The "winners" in the alt coin game are primarily those who launch such coins - and guess what they do - they buy Bitcoin!

But yes, there will always be a new fool who believes they can consistently outperform BTC with alts. Most sadly need to learn their lesson the hard way. But I agree, if we can educate them in advance then we all benefit (other then the shicoin founders).

You need to understand that many traders make more money trading altcoins compared to Bitcoin that is hard to manipulate. Manipulation in the market makes many of these altcoins projects to be easy to trade without much technical analysis. This is not Forex Marketplace where a trader would have to keep reading charts to understand what price could be capable of doing so they can position their trades. Bitcoin can not be compared to altcoins including Ethereum and it's high time we start to think smartly so that we don't have to keep making mistakes of seeing altcoins doing better tna Bitcoin just like you have said. Bitcoin still remains my favorite cryptocurrency in the market.

Yes, LTC founder dumped all his coins at the peak of the market. Actually it turned out to be the peak because when people heard about his decision they panicked and sold, ending the bull run prematurely.
He claimed that he did it so that he wouldn't be accused of pumping the coin for his own benefit, but that's what he was doing and that's what he did at the end. He sold at the peak of the pump that he took part in. Then, probably because he was afraid of being sued for it, he donated most of the profits.

Here's an article from 2018

“People lose money and they want someone to blame,” Lee said in an interview Tuesday. “And they think for some reason I had inside information, and that’s silly. At the time when I sold, everyone thought it would go to $1,000.”

Lee announced his decision on Dec. 20, 2017, a day after the token reached a record high of about $375. It’s been falling ever since, and is now trading at about $30. The sale was done via several trades at an average price of about $200, he said.

https://www.livemint.com/Money/Ryp8lvHyp2wIQU5rMwm9KK/A-year-after-Litecoin-founder-sold-most-of-his-crypto-holdin.html

Re "There are lots of alts, big ones with potential, however, the ETH stands proudly above them. Even with all of its flaws and technicalities which were mentioned above and much more throughout the threads."

Eth may stand proudly above other alts. But it time, it seems to be shrinking in status among alts, being viewed as old, stale, directionless, and a jack of all trades but master of none. We certainly see this in the relative decline of ETH in value and % of total alt market cap over the last 3 years. Reality is, in terms of price, speculators have moved on...

There are lots of alts, big ones with potential, however, the ETH stands proudly above them.
Even with all of its flaws and technicalities which were mentioned above and much more throughout the threads.

I really agree with your opinion which states that Ethereum is an alternative that is always closely related to Bitcoin. In a few days, the increase in Bitcoin has not had a big effect on the price of Ethereum. Currently, Bitcoin's movement continues to peak. Everyone says Bitcoin is the number 1 coin in the crypto world and vice versa.
I still believe that Ethereum has good potential for the future and will not be the same as other niche coins that we cannot rely on in the long term, whereas Ethereum already has strong financial standing in the market among the most popular altcoins after Bitcoin.

Did the founders of LTC cash out previously? Didn't hear about it.

I totally understand why Ethereum is being called an alternative to Bitcoin, but in reality, ETH isn't a true alternative to BTC. ETH is too different than BTC and fits another niche in the crypto world. A pump-and-dump shitcoin, whose price goes up by 1000% overnight definitely "outperforms" Bitcoin, but such achievement is totally fake, because the shitcoin cannot sustain that artificially pumped price.
Anyways, BTC is having a bull run right now and everyone is making posts about how "Bitcoin is king". When the BTC price inevitably crashes, everyone will suddenly start complaining about Bitcoin. We've seen this before and it will happen again.

In some ways, Eth was a scam from the outset, trying to create a "Better than BTC" Bitcoin, with additional features, and trying to steal value from BTC into the scheme. This plan succeeded initially, due to human's innate gread, lack of knowledge of economics, and innate curiosity. However, that how now reversed, as a portion of that investor group wised up and moved to BTC, and another portion were disloyal from the outset and chased the next hot thing being Sol or whatever. Either way, Eth is now in a tough spot as money continues to drain out.

For the same reason shitcoiners do it. Why did Do Kwon do it? Why did SBF scam people?

The way I see it, the goal of ETH was to become the most popular cryptocurrency. From the start they wanted to make a better bitcoin. A cryptocurrency that can be mined, but also allow others to launch shitcoins on its chain. It was supposed to be a coin of opportunities and a coin for building. If that eventually fails this will most likely lead to devs leaving the project, just like Hoskinson did years ago.
As enough people abandon ETH, founders will cash out whats left and move on.
Hasn't that happened before? Just look at LTC. 

Blockchain with a proof-of-work consensus algorithm is, first of all, a digital currency. People need decentralized money, which is why Bitcoin has become a mega-popular project.

A decentralized global computer (the original positioning of Ethereum) turned out to be unnecessary for most people. People are not smart enough for such a computer, they are satisfied with a laptop and a smartphone. In addition, governments of all countries are more or less tolerant of various centralized operating systems, centralized app stores, etc.

However, a decentralized operating system and a decentralized app store are not what governments and intelligence agencies want to see. This is too powerful an entity.

Perhaps (by the way), in the near future, artificial intelligence will learn to use this entity (for example, to create monetizable content and independently purchase computing power and electricity).

I think I get what you mean but I meant something different with "real world problems". The "real world problems" I was talking about are, imo, necessities of people which are not related to the cryptocurrency sector. They can exist even in the virtual space, but they are real necessities.

"Transferring value without being censored" is such a "real world" necessity which Bitcoin solves, even if the transaction itself occurs in the "virtual world". My favourite example is an opposition movement in an authoritarian country. They need funding for their activities, and Bitcoin can provide an electronic means if the banks are denying an account.

Or take a stateless person who doesn't get a bank account anywhere and wants to save some money.

On Ethereum at the start there were some projects which looked interesting at a first glance. For example there was some kind of trust which allowed to pool people together to finance projects, and basically they were promoting it as an alternative to a bank credit and/or insurance-style services. I think it was this one (Wetrust Platform). The market for such a platform should be enormous if it works. However, I never heard anything from this project again. My guess is that people learnt to game the DAO of the project, or that it was simply a scam, and I have had also doubt such a community can work.

ICO tokens to finance a startup, on the other hand, is a solution for a real world problem where Ethereum did work a bit. But ... you don't need a Turing complete scripting language for that. Coloured coins can do that trick on Bitcoin, LTC and friends since 2013 or so. Idem centralized stablecoins like Tether (which started on BTC). And the enormous amount of scams and rugpulls didn't really favour it as a platform for "serious" startups, above all outside the crypto sector.

Thus the problem for Ethereum is: how can it justify its Turing complete language which makes everything much more complex, but provides little solutions for "real world" problems?

Why would they do it, though? 

I just don't think cryptocurrencies can solve real world problems. The real world is run by completely different people (people using 20th century social technologies, not 21st century ones).

The virtual and real worlds are different kinds of worlds. In the real world, everything is based on laws and regulations. In the real world, it is very difficult to take an action if it contradicts the law (and it is completely impossible to take an action if it contradicts the physical world).

In the virtual world, you can take any action if it does not contradict the program code (which can be changed quite easily if necessary). It is certainly possible to take actions in the virtual world that are simultaneously consistent with the code and laws created by the elites of the real world, but it is essentially meaningless. Such actions will essentially be no better than the actions you can take in the real world.

How, for example, are real world stocks worse than digital tokenization of assets? No better ...

This is why it is impossible to create an ideal application on Ethereum for the real world.  Bitcoin has such enormous value precisely because it uses real-world resources for the task of transferring value exclusively in the virtual world. Bitcoin, in a way, says to people - "I don't care about you and your real world." And people say to Bitcoin - "This is exactly why we are interested in you!"

I agree fully, well said.

And that's also exactly the problem I have with Ethereum, so I don't understand why you on the other hand don't insist on a "killer app".

Bitcoin, as a value transfer tool, has characteristics no other medium of exchange can provide, like its strong censorship resistance. While other altcoins provide that too, none is as secure as BTC.

Ethereum positions itself as an application platform. That's completely okay. The problem is with the applications themselves. They should solve a real world problem. And that's where I think most Ethereum projects are failing. They are creating solutions in the virtual space which are not related to a problem in the real world. Not even in a "virtual world" outside of the crypto space.

There are very few exceptions, I think for example that Dai is really an interesting project, even if I wished it would be even more decentralized. But most other projects are basically marketplaces either of cryptocurrencies or tokens (which is why I wrote about the "circlejerk" problem) of "some virtual data entity", like AI agents. These marketplaces normally don't really need a blockchain to function.

Yep, exactly.

I just have one question to ask all those hardened ETH supporters.

Where's the flippening?

I've been waiting to see it for the last 5 years, with every few months someone saying ETH will be the new king it's just a matter of time and all that shit.
The only thing that is a matter of time is that Buterin and Lubin will one day be dead and before that they'll fill their pockets dumping their ETH and moving to other projects, like so many other devs did.

For the record, I still have a few bucks in ETH just in case they pump it one last time before they exit.

Interesting that even with the BTC pump last few days, whilst Eth also up, ETH to BTC is right now at yet another 3 year low.

The absence of a killer app for real-world use in the Ethereum ecosystem does not bother me much.

The main trend of the 21st century is the digitalization of real things and the creation of a virtual space. According to the general concept, Bitcoin is a global decentralized protocol for transferring value in the virtual space. That is, Bitcoin is developing within the global trend of our century.

This circumstance, in my opinion, guarantees its further development and a good future. The Ethereum cryptocurrency is highly respected by developers (they are captivated by the capabilities of this software platform).

However (unlike Bitcoin), the future of Ethereum is not yet entirely clear. This cryptocurrency has certain difficulties with positioning and uniqueness.

Or that the gold is the same as oil  

They don’t call Bitcoin the father of all crypto for nothing.
The fact that no particular person or group can create new Bitcoins makes it super unique and absolutely different from other cryptos, be it Sol or Eth. Bitcoin’s mining mechanisms, the halving cycle and of course its limited supply has made Bitcoin the best and safest asset, especially for those who wish to consider Bitcoin as a store of value, they can do so without fear that Bitcoin could be dumped one day. These attributes has placed Bitcoin so high above other digital currencies making it to maintain its position as the pioneer and father of all cryptocurrency, created or yet to be created.

It actually used to be more like 0.15BTC back in 2017 and has been dumping consistently ever since. So yeah, over the long run there is simply no way ETH can grow. There are two simple reasons for that, it is useless (only used to create useless tokens) and it has an unlimited supply so it is guaranteed to dump!

Yeah. It makes me sad that some people never understand that things that are not even in the same category can not and do not compete with each other. Bitcoin is a payment system while Ethereum is a token creation platform.
It is like saying apples are better than oranges

This short term movement can be explained due to disappointment with the performance of the long-hyped Ethereum ETFs. They have seen net outflows in the first months, if we take into account that the Grayscale product already existed, only not as a full-fledged ETF.

In late September these ETFs saw significant inflows for the first time, but now they're again neutral or negative in most weeks. The problem is of course that at least the US ETFs can't stake, so the ETF buyers lose a significant income source in contrast to spot buyers.

Yes, there are less transaction fees for the validators. But that can be also a good thing as it encourages the dApp projects to consider the Ethereum platform competitive again after the fees were the reason they moved to Solana and others. Which can help the price of the token itself and counter the possible losses by the decreasing PoS activity.

If you ask me, Ethereum supporters should thus support Layer-2s to make dApps on their whole ecosystem cheaper. However, the big problem remains that there is no real killer app for real-world usage in sight. But at least they wouldn't lose more projects inside their circlejerk - as a big part of DeFi, excluding DePin and RWA maybe, basically is a zero sum game (e.g. you can invest in a DEX that enables to trade tokens of other DEXes ) many projects risk to collapse if the ETH platform weakens further.

Currently, the Ethereum blockchain is losing its profitability. To some extent, this is due to the fact that user activity is moving to the second layers of the blockchain, and to some extent, to the fact that user activity is moving to alternative blockchains (for example, Solana).

Perhaps Vitalik Buterin made a strategic mistake when he switched Ethereum from the PoW consensus algorithm to the PoS consensus algorithm.

In any case, neither Ethereum nor Solana are an alternative to Bitcoin. The first cryptocurrency is a decentralized protocol for transferring value in the virtual space. In the future, I see Bitcoin as an integral part of the gold and foreign exchange reserves of central banks and the most important global asset.

Neither Ethereum nor Solana can definitely claim these roles. They are simply alternative cryptocurrencies, of which there were many before, and there will be many in the future.

Maybe this is more appropriate to use than collapsing. because after all, the development of ETH is quite certain, it's just that since its price soared a few months ago to touch more than $ 3,700 in July, along with the increase in BTC, but until now, the change in ETH price has been very slow.

The price of ETH at that time fell quite quickly following the movement of the Bitcoin price. However, when the price of BTC rose again to almost $ 7k, the movement of ETH was not as smooth and easy as that. The proof is that until now, the price of ETH is still far below $ 2,500 and has the potential to drop too. But I still think that it is not a calm collapse and down gradually and extremely, it's just a matter of time before ETH will rise again optimally and exceed its ATH.

https://coinmarketcap.com/currencies/ethereum/

but to be honest, when compared to the movement and development of its competitors, ETH does seem quite slow, even in terms of technological and network development, its competitors are much more significant, however, ETH is still ETH, which is always the top valuable altcoin to have, and will be very different from other altcoins, especially those that are just hype.

Its an unbelievably stupid mentality, that scammers take advantage of. They fail to realize there is only an infinite amount wealth in the world. So, it can't be stored in an infinite number of shitcoins.

I try to explain it to them like this. I can give you 1 gram of gold, or 1000 grams of a fresh turd. One is much bigger and much newer. What would you choose... 

We need to understand that for many people the current price of bitcoin basically guarantees they will never buy a complete bitcoin during their lives, but instead of accepting this reality and buying what they can, they decide to dabble with shitcoins thinking this is the way they can reach their goals, unfortunately for them they do not understand that a higher volatility and potential profits always comes accompanied with an increased risk, so they get surprised when the inevitable finally happens and they happen to lose all the money they invested in those shitcoins.

Just a little stat. Eth is now down 25% to BTC over the last 3 months alone. And hit a another 3 year low to BTC just a few hours ago.

I would say Eth is undergoing a slow gradual decline, rather than a "collapse". But this decline trend vs BTC has continued for over 3 years now, and it seems set to continue. Three years ago it cost .083 BTC to buy one ETH. Now its around .037. Its more than halved in value to BTC in that time. A terrible performance and so no wonder those who bought with the belief it would outperform BTC now feel disillusioned.

As for moving from Eth to SOL, I have seen this among friends of mine. Sell the last "hot thing" to buy the latest "hot thing" of this current cycle. Also SOL has a much smaller market cap. In many ways Eth is being punished for what it tried to do to BTC, and is learning the lesson that the "smaller market cap" pitch, eventually goes stale.

Agree, ETH promised a lot. Jack of all trades, but a master of none. BTC took the store of value, SOL has faster throughput. At the time, many thought Eth could be just like BTC, "only better because it does smart contracts" Well we now see how that turned out...

Is ETH really collapsing? I mean it is a shitcoin that has been slowing losing its hype and getting dumped. But the centralized authority behind it has millions of dollars (scammed over the years by selling people garbage) to pump into it and keep it alive.

And why do you claim people have moved from one shitcoin (ie. ETH) to another shitcoin (Sol) all of a sudden?

The thing about bitcoin is that it does what it promised. It provided people with a decentralized censorship resistant payment system. That is why it has been greatly successful.

Conversely ETH is a failure because it promised big things and none of those things came true. From their "decentralized computer" lie all the way to "cheaper than bitcoin" lie.

They never said "BTC's core function" since Bitcoin is a currency while ethereum is a token creation platform. They said "replacement".
And for your information at least a dozen shitcoins have made such claims. It wasn't just ether pumpers.

Bitcoin can never be compared to these altcoins, ever. Those who do, are somewhat not able to understand the core mechanics and the mathematical calculations satoshi did way before. If you look at the Halving, Cycles, Mining, you can never see these structures in any other crypto asset be it Solana or Ethereum. That's one of the point that makes Bitcoin different, and the limited supply ofcourse.

Look at the Eth to BTC cross rate. Its been on a progressive decline for over 3 years now...

It is still too early to say that ETH is collapsing because out of all the altcoins that exist, this is the second coin that has a fairly large market cap.
In terms of investment, people only care about profits and maybe they don't put ETH as one of the coins they hold in the long term, but if the coin can be used to generate profits, why not.
People might say like this, if you want to see opportunities to generate profits, then take advantage of some of the opportunities that exist and ETH is the second solution that might be used.

Solana is making progress in certain aspects but to beat ETH's capitalization is a bit harder because people will look at the performance that is happening in the market.
All considerations can be done carefully because generally investment is only about profit.

Well alot of these alt traders really have deluded themselves into thinking they can outperform BTC. It just like day traders who delude themselves into thinking they can reliably make money day trading stocks or FX. They can't. But some just take longer than others to realize it.

Imagine owning a really bad performing Shit Coin that is based on the Blockchain of a Cryptocurrency that tries to do better than Bitcoin but never can.  It is like owning supreme Shit Coins at that point.  You can not do worse.

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And even if they do out perform Bitcoin.  You have to be incredibly lucky to pick the right Coin at the right time and invest a decent amount of Money in it so that you make significant Profit.  But most of these out performers still make little actual Money to their holders.  It is exactly like picking a lottery ticket.  As close to Gambling as it can get.

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.