Thread by @WhalePanda

Nick has some very strange takes on Bitcoin and Ethereum. Nick used to work at Coinbase which explains a lot.
Comparing marketcap after 4 years is stupid because Bitcoin came from 0. Ethereum started with a shady ICO and (ab)used Bitcoin's name to give it value.

The entire narrative then was "Ethereum is Bitcoin 2.0" these takes were actively promoted by investors & founders abusing Bitcoin's brand.
Using txns/day for 2 completely different projects makes no sense. Bitcoin is for payments/wealth transfer. Ethereum to send cryptokitties.

That's a shitty theory.
1. A lot of Bitcoiners don't want anything to do with Ethereum or other shitcoins, they would never buy anything like that since they consider it unethical to support it.
2. Others Bitcoiners (like myself) use shitcoins like Ethereum to make more Bitcoin.

Illiquid shitcoins always outperform Bitcoin during a bull market. Afterwards they also dump a lot harder than Bitcoin during the bear market. This is what shitcoin traders are counting on to make more Bitcoin.
Ethereum needs to 7x to get back to ATH, Bitcoin just has to double.

Does this mean that in the next bull market Ethereum will outperform Bitcoin? Probably. But it will never reach the ATH vs Bitcoin again for the simple reason that there are many more (superior) smart contract platforms out there now and the ICO craze is over.

It's the only thing that fueled Ethereum's bubble. People bought Eth to buy ICOs which were getting good returns for a couple of months, more Eth got locked up in projects, less coins on the market, price goes up. PoS will not provide the same scarcity ethereans are hoping for.

Bitcoiners are negative about Ethereum for the following reasons:
1. Monetary policy is 3 guys on a conference call which is a joke. Predictable monetary policy is essential.
2. DAO bailout, losing immunity makes ETH a joke.
3. Shady ICO enriching founders goes against BTC ethics

4. abusing Bitcoin's name to try to pump Ethereum
5. PoS is dumb and inferior to PoW (even though you guys try to fud PoW all the time)
6. Switching narratives (world computer, dapps, defi, ICO,...) is a joke. "We can do all of them". Sure but focus on 1 thing and get that right.

7. ETH founders supporting frauds like Roger and trying to pump BCash, again an attack on Bitcoin. There's a reason why other projects like Litecoin and Monero get more support from the Bitcoin community. Their devs understand that without Bitcoin this entire space would collapse

If these tweets trigger you, you should take a long look at yourself and consider the horrible investment decisions you've made in the last 2 years.
One last thing I will add is that a lot of these "new" Bitcoin maximalists (former shitcoiners) also annoy me and most won't last.