What does BTC actually power? If Bitcoin were to go to zero tomorrow, it seems like very little in the broader economy would be directly affected.Ethereum, on the other hand, powers a large ecosystem of applications, including DeFi protocols and stablecoins. If ETH were to collapse in value, validator rewards would become much less attractive, potentially reducing the incentive to secure the network.Since a significant portion of DeFi and roughly $170B worth of stablecoins operate on Ethereum and Ethereum-related infrastructure, a severe and sustained decline in ETH could have much broader consequences for the crypto ecosystem than a similar decline in BTC. Am I missing something in this reasoning?
Maybe only 10% of anyone that knows anything about cryptocurrencies understand what Ethereum is.
>>62333235Even after all these years?
No one cares about defi. Cyrpto has only one use and it is to provide liquidity that is proof against censorship, embargo, and currency debasement.
>>62333256For most people crypto is the same as Bitcoin. They might know about defi, stablecoins, NFTs and memecoins but for them it's tiny enough to be irrelevant. Their marketcap combined is less than BTC marketcap so this simplification is understandable.
>>62333196It's a mystery to me too, but I can't ignore the charts and the ETH/BTC ratio, so I just hold BTC these days
>>62333196>Ethereum, on the other hand, powers a large ecosystem of applicationsthat are totally irrelevant>including DeFi protocolsthat nobody cares about>and stablecoinslol, lmao, even>If ETH were to collapse in value, validator rewards would become much less attractiveand nobody would notice>potentially reducing the incentive to secure the network"potentially" is doing a lot of heavy lifting there, and still nobody cares.>If Ethereum were to go to zero tomorrow very little in the broader economy would be directly or indirectly affectedftfy.
>>62333196because this crypto economy is irrelevant compared to what bitcoin does
None of the shit built on eth pays eth, they charge a million fees then hash it and give eth 1 fee
>>62333527>compared to what bitcoin doesyes, tell us what that is.
>>62333256They clearly haven't read the website's homepage or the white paper because they call it Ethereum instead of Ether.
>>62333512>and stablecoins>lol, lmao, even??
>>62333196Anon, stop triggering the girls!
>>62333798His reply has zero argument in it.
>>62333512this guy gets it, it's incomprehensible slop thats had a decade to articulate itself and noone knows or cares
>>62333552To add to this, base made like 95m last year and gave eth 5m. Imo there is probably a laffer-curve type goldilocks zone for fees. Idk how they would implement but they could probably triple the take and its still too low
Its proof of work instead of peice of shit
>>62333758you're so fucking retarded it hurts, you must be a nigger or pajeet
>>62333196Eth and Sol were killed in different ways. The former by its own founder, the latter by binance
