This is outright saying ETH is likely to outperform BTC, so this is Scott’s biggest f*** you to the efficient market hypothesis yet. I’m going to say he’s wrong and sell to 55%, since it’s currently 0.046, and if it was real I’d consider hedging with ETH.
I’m curious what’s behind this, is Zvi some sort of bitcoin maximalist? I tend to think that bitcoin having a high value is hard to explain, it made sense when it was the only secure cryptocurrency out there but now it’s to a large degree a consequence of social forces rather than economic ones. Ether I can see value in, since it does a bunch of things and there’s at least an argument that it’s best in class for all those.
I’m curious what’s behind this, is Zvi some sort of bitcoin maximalist? I tend to think that bitcoin having a high value is hard to explain, it made sense when it was the only secure cryptocurrency out there but now it’s to a large degree a consequence of social forces rather than economic ones. Ether I can see value in, since it does a bunch of things and there’s at least an argument that it’s best in class for all those.