I don't see how a centralized shitcoin with no supply cap is any different than fiat currency.
"They're the same picture."
Discussion
Well for starters the centralized shitcoin increased purchasing power in bitcoin terms, and fiat didn’t.
So unless you need to buy things I guess there’s no difference
If you're a high time preference trader, you missed your opportunity. If you're a low time preference HODLer, who cares. On a long enough time horizon it will lose value against Bitcoin, just like anything without scarcity.
5 years is a ling time fren
People keep saying that, but here we are. We’ll see what happens over the next 5 years.
The “It’s all going to zero against bitcoin” mantra needs to be put to bed
It would need to be better money to continue gaining value against Bitcoin long term. Ethereum was gaining for a short time, too. Remember the ETH heads frothing about the flippening? The biggest long term risk is Bitcoin turning into another shitcoin.
If it was competing to be money, but I don’t think that’s the case.
People overestimate how quickly and to what extent Bitcoin will be adopted in their lifetime
People that bought solana in 2020 dont need to be right 200 years from now.
SOL is just a cheaper, faster, more centralized, less reliable Ethereum. It's scarcity is the same as fiat, infinite. Ethereum has been around for 2/3 of Bitcoin's lifetime, yet even with unlimited supply cap it's < 1/4 of the market cap of Bitcoin.
Why would a more centralized, less reliable Ethereum be worth more than Ethereum, let alone Bitcoin?