Thread by @Andrew_J_Howard

KPMG is a $32B company which just bought #bitcoin...as well as #ethereum. Here are FIVE reasons why purchasing ethereum was a major mistake, and conversely, why purchasing #bitcoin was a great decision. 👇

1. Ethereum does NOT have a supply cap. #Bitcoin does: 21M.

2. Ethereum is centralized. Despite the countless times you hear its representatives say the buzzword "decentralized", the Ethereum Foundation dictates what will happen. With #Bitcoin, no foundation, board of executives, or CEOs can control the network.

3. Ethereum has no sense of direction as to what real world problems it's aiming to solve. #Bitcoin solves one of the biggest problems humanity IS facing and HAS faced throughout history: inflation.

4. Ethereum has already had a 2008-style bailout. Look up the DAO hack and you'll see what I'm talking about.

5. Ethereum is suffering from serious scalability issues with no viable solution. Try to send an ethereum transaction and tell me how much the fees are. You will be shocked. Meanwhile, you can send #bitcoin to anyone on earth through the lightning network for practically 0 fees.

By the way, #Cashapp just integrated the lightning network - another large step for adoption.

Although I celebrate the fact that another huge corporation bought #bitcoin, they are the only notable corporation to have bought #ethereum at this point. There is a reason for this.

I used to own ethereum. I used to have a "diversified crypto portfolio". This was a mistake because there can only be one winner for money itself - human beings naturally do not transact in dozens of different currencies, trying to value each one accordingly.

#Bitcoin is the *only* thing worth your time in this entire ecosystem. The rest are either well intentioned projects that are doomed from the start, or simply outright scams. Typically the latter more than the former.