While Ether (ETH) is down nearly 40% against bitcoin (BTC), which may be worrying for ETH traders, members of the crypto community on Twitter shared their views on the possibility of the contract platform breaking down smart the king of cryptocurrencies.
On Twitter, the Cointelegraph team demand the crypto community to share their thoughts on the possibility that ether could eventually overtake bitcoin. Ranging from predicting it would happen in 2030 to saying no, community members offered a variety of answers.
According to Jesus Crypto, it is possible that ETH will overtake BTC in 2030. While the Twitter user think that will be very difficult, the upcoming shift to proof of stake (PoS) could play a role in ETH’s accession to the throne in a decade.
Calling bitcoin a dinosaur, Twitter user WakeNBakeTrades also believes that Ether can take on the market’s leading cryptocurrency with the help of Polygon (MATIC) scaling. The user tweeted:
bitcoin is a dinosaur at this point with no real utility. as long as eth has polygon scaling there is a high chance that it will become btc in the near future with $matic just behind it.
— Western Chad (@WakeNBakeTrades) July 13, 2022
Bitcoin is a dinosaur at this point with no real use. As long as ETH has the Polygon scaling, there is a good chance that it will overtake BTC in the near future, with $matic right behind it. — Western Chad (@WakeNBakeTrades) July 13, 2022
On the other hand, Rahul Singh said it would never happen, emphasizing that BTC is digital gold and ETH is the second iteration of the internet. Singh pointed out that there are many differences between the value of digital assets and the value of digital software. Twitter user CyberKingK agreed with this sentiment and tweeted:
Bitcoin is not likely to be king and always will be
—Muhammad Jamal Ali (@CyberKingK) July 13, 2022
No chance: bitcoin is king and always will be. — Muhammad Jamal Ali (@CyberKingK) July 13, 2022
There is also Bob Shiby Surname on the subject by stating that there is “plenty of room for both”. The Twitter user noted that he would not make up his mind and wait for new developments for bitcoin, admitting that many tokens depend on the availability of Ethereum.
Also read: Ethereum co-founder responds to PoS criticism amid upcoming merger.
Earlier in July, a decentralized finance (DeFi) researcher said that the move to PoS consensus under the upcoming merger will create an economic structure that will allow ETH to overtake BTC. The researcher noted that with this change, ETH inflation will decrease, security will increase, and the asset will consolidate as a digital bond.