Bitcoin occupies about 80% of popular mindshare when it comes to the crypto industry.

It’s probably because attention goes to the largest things - and Bitcoin has always had the largest market cap of any cryptoasset. It’s currently about 3 times larger than Ethereum’s - and it’s undoubtedly the ‘face of the crypto industry.

But by any other metric, Ethereum is bigger:

• Number of Users

• Number of Transactions

• Volume of Transactions ($)

• Total fees paid to transact

The list goes on. Ethereum flipped Bitcoin to be #1 in these metrics long ago.

So why is Bitcoin more valuable than Ethereum? Well, perhaps it’s because Bitcoin was first, launching 6 years before Ethereum, and getting a head start on accumulating market cap. But Ethereum has been catching up fast; since Ethereum launched, the price of ETH has outperformed the price of BTC by 84x, and it only needs to go another 3x to flip BTC. Given that Ethereum has already flipped Bitcoin in every other metric, I believe it’s a matter of time until the price catches up.

Market cap itself is a strange metric, and a flawed one. If you add up the market cap of all the things that are built on top of Ethereum and depend on Ethereum to work (the ‘Ethereum ecosystem’), then the combined market cap of the Ethereum ecosystem has already flipped Bitcoin. But pure ETH vs BTC still has a lot left to go.

Despite all this remarkable growth in Ethereum, the general public seem to have no clue. Bitcoin is still the most widely known cryptoasset. Ethereum is a niche thing for the nerds. The average person has no idea about Ethereum (and, still, only a vague idea about Bitcoin).

So, what if this changes?

• What if people realise that cryptocurrencies aren’t primarily to do with money?

• What if people realise that you can build valuable services on blockchains?

• What if people realise that cryptocurrencies can accrue value by providing services for fees?

• What if people realise that cryptocurrencies can be eco-friendly?

I would argue that the whole industry would benefit.

That’s why I'm not only predicting the flippening will eventually happen, but that it will be a good thing for the entire industry.

Bring on the flippening.

🐬

Bitcoin occupies about 80% of popular mindshare when it comes to the crypto industry.

It’s probably because attention goes to the largest things - and Bitcoin has always had the largest market cap of any cryptoasset. It’s currently about 3 times larger than Ethereum’s - and it’s undoubtedly the ‘face of the crypto industry.

But by any other metric, Ethereum is bigger:

• Number of Users

• Number of Transactions

• Volume of Transactions ($)

• Total fees paid to transact

The list goes on. Ethereum flipped Bitcoin to be #1 in these metrics long ago.

So why is Bitcoin more valuable than Ethereum? Well, perhaps it’s because Bitcoin was first, launching 6 years before Ethereum, and getting a head start on accumulating market cap. But Ethereum has been catching up fast; since Ethereum launched, the price of ETH has outperformed the price of BTC by 84x, and it only needs to go another 3x to flip BTC. Given that Ethereum has already flipped Bitcoin in every other metric, I believe it’s a matter of time until the price catches up.

Market cap itself is a strange metric, and a flawed one. If you add up the market cap of all the things that are built on top of Ethereum and depend on Ethereum to work (the ‘Ethereum ecosystem’), then the combined market cap of the Ethereum ecosystem has already flipped Bitcoin. But pure ETH vs BTC still has a lot left to go.

Despite all this remarkable growth in Ethereum, the general public seem to have no clue. Bitcoin is still the most widely known cryptoasset. Ethereum is a niche thing for the nerds. The average person has no idea about Ethereum (and, still, only a vague idea about Bitcoin).

So, what if this changes?

• What if people realise that cryptocurrencies aren’t primarily to do with money?

• What if people realise that you can build valuable services on blockchains?

• What if people realise that cryptocurrencies can accrue value by providing services for fees?

• What if people realise that cryptocurrencies can be eco-friendly?

I would argue that the whole industry would benefit.

That’s why I'm not only predicting the flippening will eventually happen, but that it will be a good thing for the entire industry.

Bring on the flippening.

🐬