🏅I successfully predicted that the ETH/BTC ratio would continue to fall📉, why did ETH's ETF perform worse after it was approved? 🤔
I mentioned in my article on August 28 that the ETH/BTC ratio would continue to fall, and this ratio also dropped from the lowest point of 0.041 at that time to the current 0.039. From a long-term perspective, compared with Bitcoin, Ethereum is a piece of shit. What smart contracts and what DEFI ecosystem's first common chain are not worth mentioning in the face of absolute scarcity value and consensus value.
Why is this so? Before ETH switched to POS, I was a miner and bought graphics cards and mining machines. At that time, when I first started mining, the price of ETH was $3,000. I was full of confidence in ETH. After all, it was the second common chain of POW, and retail investors could only mine ETH and ETC. But as the currency market continued to fall, Bitcoin directly broke 20,000, and I suffered heavy losses. But during this period, I kept holding ETH, thinking that one day it would return to 3,000 points.
I succeeded. I sold all the mined ETH at 3800 points, but I didn't make a profit overall. I can only say that I got my money back because the graphics card I bought was expensive. After ETH changed to POS, the graphics card value collapsed. In addition, I mined for so long, and the residual value recovery was very low.
What if I didn't hold ETH at the time, but exchanged the mined ETH for BTC? The answer is, I made 50% directly.
The essence of the whole world is the Matthew effect of the 80/20 rule. There is only one underlying asset with recognized value. Precious metals are recognized as gold, and Canadian currency is recognized as Bitcoin. What is ETH? It was created by a group of centralized people. Even if it adds smart contracts, virtual machines, and oracles, it can't change its dictatorial mechanism that can be changed to inflation at any time. The coins were stolen by hackers, and they couldn't afford to play anymore, so they just hard forked.
Trust comes from credit, and value comes from consensus. The market only remembers the champion, and no one remembers the runner-up. #币安上线NEIRO #新币挖矿HMSTR #美国大选如何影响加密产业？ #美联储利率决议公布在即 #美联储利率决议公布在即
Follow me, the coin circle hoe, and take you to dig deep for wealth!
