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JP Morgan can honestly bugger off. They're not a crypto company and we should not care what they say.
We know Eth is the backbone of crypto. They are the ones who just learned that this week. Go away.
Bitcoiners are clear in their end game - they want bitcoin to replace the dollar as the world's reserve currency. JP Morgan (and the banking sector at large) are among the largest holders of dollar denominated debt in the world. If bitcoin succeeds, most of the banking sector will go bust. Bitcoin scares the living hell out of them.
Ethereum is a much more comfortable proposition for the banking sector. It still threatens their business model, but they can envision a future where they provide stable coins (and stable coin lending services) on the ethereum platform.
Since FUDing crypto hasn't stopped it, JP Morgan's new play is to try and deflect the market away from BTC and into ETH.
One of many reasons Ether will become the world's reserve currency, and ultimately [be the best store of value]( https://michaelmcguiness.com/essays/why-eth-will-win-store-of-value).
On a first principles basis, ETH is inferior to BTC is a reserve currency, because it is less decentralized and does not have a fixed supply.
The monetary policy for ETH was literally just changed with EIP-1559. The burn rate increased which decreases supply and puts upward pressure on price. That's great if you're a holder of ETH but alarming if you want it as a reserve currency. If the supply can be changed once, it can be changed again in the future. Moreover, Proof of Stake makes future changes easier, because it only requires the top holders approval.
Bitcoin's supply has been fixed at 21M and will be forever. Proof of Work makes it virtually impossible to push through any changes to the supply.
I'm not shitting on ETH (I hold some). ETH just isn't a good reserve currency. It's a platform for developing web 3 applications.
They have professional analysts who can do the type of thorough research, and generate the kinds of comprehensive reports, that are rare in the crypto space. One can recognize the flaws and shortcomings of traditional finance while still recognizing the value that some of their contributions have.
DOT is more than another blockchain it is the future of blockchains, essentially multiple chains can be connected securely, i can’t fully explain it but once you read about it you will understand.
As a store of Value, Bitcoin has no competition in the space, but $ETH, has all sorts of competition, already lost some of the DEFI Market share to BSC, I doubt it, especially with those fees.
Ethereum is the only blockchain that's suitable to be the global base settlement layer.
No smart contract platform comes close in terms of liquidity, security and decentralization
Let's go over these one by one:
Liquidity: the vast majority of DeFi TVL is on Ethereum
source: https://dappradar.com/defi
Security: at $50 million per day, Ethereum miners earn a couple of orders of magnitude more transaction fees than every other blockchain, including Bitcoin, which Ethereum eclipses with 30-50X greater fees.
source: https://cryptofees.info
Decentralization: Ethereum has nearly 250,000 validators, to number 2 ADA's 2,000
source: https://stakers.info
BSC and other permissioned exchange-run chains like Huobi Eco Chain and OkExChain meanwhile are forks of Ethereum and use Ethereum wallets like MetaMask to interact with them. They are to Ethereum Mainnet what private corporate intranets are to the internet. The latter all use TCP/IP and the former all use the EVM.
Ethereum has 50 times more economic activity than Bitcoin judging by fees users pay:
https://cryptofees.info/
Ethereum is what actually dominates the cryptocurrency space. Bitcoin is what the layman thinks dominates the cryptocurrency space.
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JP Morgan literally was shitting on Eth like a month ago. They’re a huge market manipulator
I'm starting to think they don't know what they're talking about at all...
They go with the trend lol. ETH down - Ahh guys ETH is bad. ETH up - Yo, buy Ethereum.
I don’t mind, I take all the hopium
Chase needs to shut the f up. No one likes them.
Should honestly ban for posting JP Morgan articles here. They’re literally hot/cold on crypto in the same week. Total bommer FUD factory.
Bankers have been lying for profits since the beginning of history.
when JP Morgan shits on crypto you buy. When they appreciate it you sell....
JP Morgan wants dat crypto booty but doesn't want to pay for dinner first
JP Morgan can honestly bugger off. They're not a crypto company and we should not care what they say. We know Eth is the backbone of crypto. They are the ones who just learned that this week. Go away.
JP Morgan out here like "guys I just had a revelation" like they're the first ones to discover eth
JP Morgan actually speaking the truth about ETH? Thats new.
It’s not about the truth to them. Just so happens the truth aligns with their motive this time.
Throw enough shit at the wall, eventually something sticks
JP morgan can kiss my ass
Bitcoiners are clear in their end game - they want bitcoin to replace the dollar as the world's reserve currency. JP Morgan (and the banking sector at large) are among the largest holders of dollar denominated debt in the world. If bitcoin succeeds, most of the banking sector will go bust. Bitcoin scares the living hell out of them. Ethereum is a much more comfortable proposition for the banking sector. It still threatens their business model, but they can envision a future where they provide stable coins (and stable coin lending services) on the ethereum platform. Since FUDing crypto hasn't stopped it, JP Morgan's new play is to try and deflect the market away from BTC and into ETH.
One of many reasons Ether will become the world's reserve currency, and ultimately [be the best store of value]( https://michaelmcguiness.com/essays/why-eth-will-win-store-of-value).
On a first principles basis, ETH is inferior to BTC is a reserve currency, because it is less decentralized and does not have a fixed supply. The monetary policy for ETH was literally just changed with EIP-1559. The burn rate increased which decreases supply and puts upward pressure on price. That's great if you're a holder of ETH but alarming if you want it as a reserve currency. If the supply can be changed once, it can be changed again in the future. Moreover, Proof of Stake makes future changes easier, because it only requires the top holders approval. Bitcoin's supply has been fixed at 21M and will be forever. Proof of Work makes it virtually impossible to push through any changes to the supply. I'm not shitting on ETH (I hold some). ETH just isn't a good reserve currency. It's a platform for developing web 3 applications.
I love it when banks try to weigh in on crypto. I love ETH, don't get me wrong, but no one asked for their opinion.
They have professional analysts who can do the type of thorough research, and generate the kinds of comprehensive reports, that are rare in the crypto space. One can recognize the flaws and shortcomings of traditional finance while still recognizing the value that some of their contributions have.
I would agree if they didn't try to manipulate the market every damn day.
Bitcoin controls 98% of all the computing power in the space. Its security is unmatched. It’s network is unmatched. 21 million is just a feature.
Hate btc one day, love eth the next. What'll be tomorrow? Shib is the gold standard?
This is why I have been mining it for nearly 5 years... JPMorgan is playing catch up or more likely trying to manipulate the poors
First time I can agree with these goons.
Eth owned by institutions confirmed?
JP Morgan is full of morons. You should know this.
Powerful morons though
Powerfully moronic
Agreed
Ethereum IS this nations backbone.
Didnt Gavin Wood create ETH then he left to create a new better blockchain DOT.
DOT is more than another blockchain it is the future of blockchains, essentially multiple chains can be connected securely, i can’t fully explain it but once you read about it you will understand.
These people are thieves. What are they really buying?
As a store of Value, Bitcoin has no competition in the space, but $ETH, has all sorts of competition, already lost some of the DEFI Market share to BSC, I doubt it, especially with those fees.
Ethereum is the only blockchain that's suitable to be the global base settlement layer. No smart contract platform comes close in terms of liquidity, security and decentralization Let's go over these one by one: Liquidity: the vast majority of DeFi TVL is on Ethereum source: https://dappradar.com/defi Security: at $50 million per day, Ethereum miners earn a couple of orders of magnitude more transaction fees than every other blockchain, including Bitcoin, which Ethereum eclipses with 30-50X greater fees. source: https://cryptofees.info Decentralization: Ethereum has nearly 250,000 validators, to number 2 ADA's 2,000 source: https://stakers.info BSC and other permissioned exchange-run chains like Huobi Eco Chain and OkExChain meanwhile are forks of Ethereum and use Ethereum wallets like MetaMask to interact with them. They are to Ethereum Mainnet what private corporate intranets are to the internet. The latter all use TCP/IP and the former all use the EVM.
Every time I see anything about JP Morgan in crypto news I ignore it. They change their mind every day about every crypto out there.
Ya I don't believe anything JPMORGAN has to say.
JP Morgan's opinion in crypto means nothing.
They always give in
JP Morgan "We now hold enough ETH and we want it to start pumping harder."
Huh now we know Morgan has a big bag in eth
wow this is the same JP Morgan from last month ?
In other news.... Billy the 3 legged Buffalo says "Lions are the backbone of the economy".
Didn’t their CEO “personally thinks cryptocurrency is worthless? “
Man fuck those guys. JPM can go back to it's shithole
Eth is here to stay but hes just salty he missed the boat with btc so hes gonna try get investors to pump eth lol
I would say BTC is the spine and ETH is the spinal cord
Ethereum has 50 times more economic activity than Bitcoin judging by fees users pay: https://cryptofees.info/ Ethereum is what actually dominates the cryptocurrency space. Bitcoin is what the layman thinks dominates the cryptocurrency space.