Altcoins, Bitcoin

BTC VS ETH – Which side are you on?

Bitcoin (BTC) has increased by nearly 48%, while Ethereum (ETH) has seen its value bulge by 52%, considering the entirely of what happened in just a couple of months. It may seem that all of these profits would place everybody in a pleasant disposition, particularly both camps of diehards of the two largest and most famous cryptoassets.

As new investors bring new capital into the crypto area, the age-old discussion among the Bitcoin maximalists and Ethereum associations returns with an unknown force.

The debates have transpired on the full range of the spectrum, from Ethereum Co-Founder Vitalik Buterin ironically joining other Bitcoiners in bashing BTC’s stock-to-flow model to Blockstream CEO and Bitcoin maximalist Adam Back taking shots at Ethereum for its lack of space for such a model. Bitcoin creator Satoshi Nakamoto has to send his two cents worth.

During this week, market leaders demonstrated once again that they are not going to give it a chance, with Messari’s Ryan Selkis supplementing fuel to the fire by supporting Ethereum against Bitcoiners in a Twitter thread that brought infamous industry players like Jameson Lopp, Chief Technology Officer of US-based crypto security professional Casa, Pierre Rochard, Bitcoin evangelist at crypto exchange Kraken, and, of course, Buterin, among many others.

Selkis tweeted,

And the responses were quick:

For a bit of history, Ethereum’s Buterin laid out the origins of the argument in a blog post six years ago. He described the phenomenon of Bitcoin maximalism, saying it is

the idea that an environment of multiple competing cryptocurrencies is undesirable, that it is wrong to launch ‘yet another coin,’ and that it is both righteous and inevitable that the bitcoin currency comes to take a monopoly position in the cryptocurrency scene.”

Not everybody is a fan of the theory.

While rivalries in the crypto community are nothing new, they escalated during the bear market of 2018, when prices were tanking, and tempers were flaring.

Glossy Ethereum in blurred closeup. Crypto-currency finance and banking as concept.

Now that the bulls have wrestled back control of the market, however, the infighting has not disappeared. If anything, it has only gotten worse. Perhaps it has something to do with the fact that new money — from MicroStrategy and PayPal to billionaires Paul Tudor Jones and Mexico’s Ricardo Salinas Pliego — is entering this space, fueling competition for the fresh capital. Plus, there is more to prove with the prices of both coins barreling toward new highs.

Some might say the feud between the BTC and ETH camps is reminiscent of what is going on in politics in the United States, which in most cases is akin to slamming one’s head against the wall. Here is a different example of the rivalry:

Meantime, Messari co-founder Dann McArdle gets the win for the most level-headed debate, denoting that the use cases for Bitcoin and Ethereum are entirely diverse and suggesting that there is room at the table for both:

At the time of writing (18:34 UTC), BTC trades at USD 19,097 and is unchanged in a day. The price is up by 7% in a week and 168% in a year. ETH swaps hands at USD 592 and is down by 2% in a day, trimming its weekly gains to less than 25%. It rallied by 305% in a year.

To reach its ATH, BTC must go higher by around 5%, ETH – by 142%.

What’ your opinion about Bitcoin and Ethereum? Which side are you on? Let us know what you think about this subject in the comments section below.

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