Bitcoin and Ethereum communities call off their arguments
For the sake of the crypto community, it is important to note that the well-being of every crypto, and thereby every crypto community, is equally important. Bitcoin rules the market with no definite timeline for allowing someone else to take the top position. Ethereum is doing its best, but the margin is pretty large.
Both communities can, at their very best, better support their respective tokens.
At a recent event, the Bitcoin and Ether communities had a disagreement that had to be settled with a truce presented by Mike Novogratz. To be fair, BTC and ETH believe in the future of their tokens and are willing to invest large sums of money in them. That is, both sides share some common features that cannot be overlooked.
In addition, both sides have a robust community. There are a few distinctions, but one can assume that there is something in common. Bitcoin, for example, portrays itself as a store of wealth and digital gold. Ether, on the other hand, has ambitions that span a broad spectrum. The Ethereum community desires a decentralized platform for smart contracts and apps.
Implementations are different, with the rare possibility that Ethereum could actually surpass Bitcoin.
What really sparks the debate between the two communities is a hypothetical scenario in which Ethereum surpasses Bitcoin in market capitalization and becomes the dominant cryptocurrency in the business.
Assuming that happens on a given day, the utilities of both cryptocurrencies will still remain different on a larger scale.
An investor and former hedge fund manager, Novogratz once echoed a similar tone. In a July 2021 interview with the media, he said that Ethereum could become the world’s biggest cryptocurrency. Still, it will continue to have a very different use case than originally planned.
The community has been quick enough to notice the arguments. Some have said that both cryptocurrencies can co-exist and grow, while others have said that the conflict is rooted deep in human nature since everyone has a different belief system.
BTC is currently exchanging hands at $27,857.20. ETH is trading at $1,755.30. Both values were true at the time of drafting this article. The last month has been good for both communities, with the values rising to 18.54% and 7.47%, respectively.
Ethereum was $1,633.26 in the last month on the same date. Bitcoin was rather in a tricky position, below $25,000. Specifically speaking, BTC was trading at $23,499.40. The crypto predictions see ETH surpassing BTC with a different set of use cases; however, it remains to be seen in the days to come.
Bitcoin has remained below $20,000 for a while. A price increase that exceeds $25,000 brings relief to the community. ETH has a long road ahead of it, but its utilities and aspirations make it worthwhile. With decentralized applications and smart contracts, the ETH community aspires to continue to thrive.