Quote from: AsiaHODL on October 28, 2024, 04:37:12 PM

I would say Eth is undergoing a slow gradual decline, rather than a "collapse". But this decline trend vs BTC has continued for over 3 years now, and it seems set to continue. Three years ago it cost .083 BTC to buy one ETH. Now its around .037. Its more than halved in value to BTC in that time. A terrible performance and so no wonder those who bought with the belief it would outperform BTC now feel disillusioned.

It actually used to be more like 0.15BTC back in 2017 and has been dumping consistently ever since. So yeah, over the long run there is simply no way ETH can grow. There are two simple reasons for that, it is useless (only used to create useless tokens) and it has an unlimited supply so it is guaranteed to dump!

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At the time, many thought Eth could be just like BTC, "only better because it does smart contracts"

Yeah. It makes me sad that some people never understand that things that are not even in the same category can not and do not compete with each other. Bitcoin is a payment system while Ethereum is a token creation platform.
It is like saying apples are better than oranges Tongue