Who will be the most stable? – Although the venerable Bitcoin (BTC) remains the most valuable cryptocurrency, its main pretender to the throne, Ethereum (ETH), already makes him strong competition on certain metrics. The latest heated debate between supporters of the two leading cryptos in the market is about there ” supply »that is to say on the total offer of units for each of these projects (the number of bitcoins and ethers).
Bitcoin or Ethereum: which is the “healthier” cryptocurrency?
Bitcoin and Ethereum can be perceived as complementary, with at least partially different roles and objectives. But despite this, some seek opposition between the two best-known crypto-assets. The current hustle between pro-BTC and pro-ETH started from the tweet below, posted by the account @ultrasoundmoney.
Let us first recall that a “sound currency” (sound money) is a qualification designating a currency with a particularly stable value over time. These are the parts gold and in silver-metal – used for centuries for their stability purchasing power – who also gave the English version of this quality (sound/sound), thanks to the harmonious and very characteristic ringing of these coins in precious metals.
Coming back to our debate of the day, the account @ultrasoundmoney (pro-ETH in this case) considers that, if Bitcoin is a sound currency, then Ethereum offers a currency “super healthy” (ultra sound money).
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Butterfly minute: BTC and ETH need time
Obviously, each maximalist chapel rushes to go there with his arguments. On the Ethereum side, this is the potentially deflationary of the number of ethers which is the most advanced. Indeed, with the arrival of the EIP 1559part of transaction fees are now destroyed. In some cases, ethers can thus no longer be destroyed by the EIP 1559, that it does not is created by block rewards.
On the bitcoin side, the limit set at 21 million units – and this from its creation by Satoshi Nakamoto in 2009 – is of course the most presented argument. And as Cointelegraph reports in particular, it should be noted, however, that the ” Monetary Policy “ of its competitor Ethereum has already changed several times since its shortest existence (launched in 2015). Some even speak “of at least 11 changes” rate of monetary issues (the ” tokenomics ”) for the ETH network.
We will recognize in Bitcoin the advantage of not having changed tokenomics for 14 years. Conversely, theinterventionism on Ethereum, for the moment a little too frequent, can unpleasantly remind some of the actions of central bankers on their fiat currencies.
But let everyone be reassured (or not): to know if BTC or ETH can be qualified as sound money, it will be necessary – as for gold – wait centuries of use as currency of exchange, to know their real stability. The test of time for Bitcoin and Ethereum does what to start. Maybe with any luck, in a few decades we will already have a serious idea of “who is the healthiest” of cryptocurrencies.
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