I hedged my ETH positions with market-cap weighted BSC (BNB) ~2 weeks ago, but that's only because I expected it to rally short-term now that yield-farming and low fees will attract activity there and make BSC look like serious Ethereum contender.
That said I don't have long-term belief in BSC. I think that mature Ethereum L2s with some primitive cross-rollup interaction will bring fees lower and create a viable platform for Ethereum users and I believe developers will ideologically favor Ethereum options as their #1 pick.
As APYs run out on BSC as those governance tokens have been farmed and as acceptable fee environments arise on Ethereum, BSC will pass as a fad. Everyone knows that BSC is a ticking regulatory time bomb--as is Ethereum--but with much less resilience in that inevitable war.
Now, what I think is extremely important is that other exchanges support withdrawal options directly to ETH L2 rollups. Look at this. Having a direct low-fee CEX-to-rollup onramp is the one thing that currently sets BSC apart from Ethereum options, even after yields decrease. 
@bitfinex @coinbase @kraken please realize that BSC taking over Ethereum is a negative for you. It's going to centralize the smart contract landscape around Binance put you at a disadvantage. Offering direct onramps to Ethereum L2s is how you level the playing feed.
Lol, I didn't realize that this thread would come out sounding like this. I'm not celebrating a trade here. Anyway check my response to his tweet.
https://twitter.com/fogg49/status/1363505150925697030?s=19
Missed an opportunity here. As a regulated trader I have to whitelist assets I wish to trade and coherently explain why $CAKE is safe. That's a conversation I'd prefer to avoid 😂 also I have no idea whether PancakeSwap will last when competition comes.
https://twitter.com/ercwl/status/1362741208624361478?s=19
Anyway this whole situation is something I've been entertaining the idea of happening, forseeing the offchance of this did not require much brainpower.
https://twitter.com/ercwl/status/1305147169595424773?s=19
I've updated my thinking a bit on the above and I no longer see consortium chains as a big threat to Ethereum anymore (in the very long-term). Complex rationale here:
https://twitter.com/ercwl/status/1359656887562756096?s=19
Also this sounds atleast a little bit promising (as much as I believe @gakonst is the GOAT + @zmanian I'll keep my hopes reserved for a bit longer though).
https://twitter.com/gakonst/status/1361325053292478466?s=19
• • •
Missing some Tweet in this thread? You can try to
force a refresh
