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Earnestly/naively curious: what are the best first-principles arguments for why Bitcoin should not end up fully superseded by Ethereum? (Please don’t make me regret asking this! This is a truth-seeking q; I have no dog in this fight)

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Eli Dourado

@elidourado

· May 1, 2021

Replying to @BrantlyMillegan

They have completely given up. The narrative now is “hodl,” as if you could ever change the world by sitting on your hands and literally doing nothing.

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Andy Matuschak

@andy_matuschak

May 1, 2021

This seems like a good answer: ETH can’t be a strict superset of BTC’s properties because the attitudes on monetary policy are much less gold-like. (nb that is a descriptive not normative claim) twitter.com/marksaroufim/s

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Andy Matuschak

@andy_matuschak

An excellent thread of reasons from

@balajis

. I particularly like his crossover point that people thought Facebook would subsume Twitter, looking naively at feature set.

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Balaji Srinivasan

@balajis

· May 2, 2021

Replying to @andy_matuschak

Most of @elidourado’s arguments for ETH are good. But it just serves a different purpose than BTC. Ethereum is programmable finance. Bitcoin is digital gold. Even EIP-1559 won’t change that because it signals that Ethereum *has* a mutable monetary policy.

11:43 AM · May 2, 2021Twitter Web App

Replying to

BTW I’ve been mildly shocked that this thread has mostly avoided eliciting obnoxious behavior in my mentions. I have updated more charitably towards crypto Twitter! Thanks, people-with-laser-eyes!