The notion of ETH becoming the dominant cryptocurrency was discussed on crypto Twitter, with opinions ranging from forecasting that ETH will surpass BTC in 2030 to categorically rejecting the idea.
While the over 40% decline in value of Ethereum (ETH) relative to Bitcoin (BTC) may worry ETH traders, members of the crypto community on Twitter discussed the prospect that the smart contract platform may eventually overtake the market leader in cryptocurrencies.
The Cointelegraph social team asked the cryptocurrency community to weigh in on whether Ethereum will ever overtake Bitcoin on Twitter. Members of the community responded with a range of predictions, from a solid no to one for 2030.
The probability exists, according to Jesus Crypto, that ETH will surpass BTC in 2030. Even though the Twitter user believes it will be exceedingly challenging, the impending switch to proof-of-stake (PoS) may help ETH succeed in 10 years.
Twitter user WakeNBakeTrades, who refers as Bitcoin as a dinosaur, thinks that Ethereum can outperform the leading cryptocurrency thanks to Polygon’s (MATIC) scaling. They stated in a tweet:
bitcoin is a dinosaur at this point with no actual utility. as long as eth has polygon’s scaling theres a big chance it will surpass btc in the near future with $matic right behind it.
— Western Chad (@WakeNBakeTrades) July 13, 2022
Rahul Singh, on the other hand, asserted that it will never happen, pointing out that although ETH is the second iteration of the internet, BTC is digital gold. Digital assets and digital software have quite different values, according to Singh. CyberKingK, a user on Twitter, posted his agreement with the idea:
Not a chance Bitcoin is king and always will be
— Muhammad Jamal Ali (@CyberKingK) July 13, 2022
There is plenty of place for both, according to Bob Shiby, who also offered his opinion on the subject. The Twitter user acknowledged that many tokens depend on Ethereum’s uptime but said they would wait before making a decision in order to see how Bitcoin develops further.
A decentralized finance (Defi) expert claimed on Monday1 that the next Merge’s switch to PoS consensus will produce an economic system that will enable ETH to surpass BTC. The researcher pointed out that as a result of the change, ETH inflation would decrease, security will increase, and the asset will solidify its status as a digital bond.