The rebuttal that ETH will surpass BTC by a hundredfold.

Recently, Tom Lee from Fundstrat Capital mentioned during a live broadcast that BMNR has established the world's largest reserve of over 800,000 ETH, and believes that today's ETH is like BTC in 2017 (which rose from less than $1,000 to over $114,000 now), and that ETH will surpass BTC by a hundredfold.

In response, netizen @BastienSinclair posted a rebuttal. He believes that based on the laws of network dynamics and consensus facts, ETH (Ethereum) will never "flip" BTC. There are the following seven points:

First of all, BTC is the only trustless foundational layer.

1.1 BTC is the only truly decentralized, immutable, and censorship-resistant currency network in the world.

1.2 Proof of Work (PoW) enforces thermodynamic costs and real-world anchoring.

Secondly, BTC runs on a PoW hash rate of about 1 zettahash per second. (Note: 1 zettahash per second equals 1000 exahashes per second, approximately 10^21 H/s)

2.1 ETH has abandoned PoW and switched to PoS - BTC currently operates on an original hash rate of about 1 zhash per second.

2.2 The security of energy endorsement cannot be forged and is independent of politics.

Thirdly, Proof of Stake (PoS) is essentially human governance.

3.1 PoS is a political mechanism, not a security model.

3.2 Large holders of tokens are the masters of consensus - whoever controls the most ETH has the power of discourse.

3.3 Zero external cost = Evil has zero cost = Being forced to return to trust dependency.

Fourth, ETH has changed the rules multiple times.

4.1 DAO Rescue Event (2016): Rewrite the historical ledger.

4.2 The Merge Upgrade (2022): Disrupting the Consensus Mechanism.

4.3 Future variables? Everything can be changed.

4.4 BTC rules are as solid as a rock —— Consensus ≠ Governance.

Fifth, winner takes all: the network effect has become a given.

5.1 BTC is currency, and ETH is a technology stack.

5.2 The currency network has zero-sum and reflexivity - the optimal store of value will consume others.

5.3 BTC has emerged victorious in the Lindy Effect. (Note: The Lindy Effect refers to the idea that the longer something has existed, the greater the likelihood that it will continue to exist in the future—much like well-established brands, classic theories, or enduring entities like BTC; the longer they survive, the more likely they are to continue to survive in the long term.)

Sixth, currency premiums are indivisible.

The core value of 6.1 BTC lies in its absolute scarcity and trustless final settlement.

6.2 The competitors of Ethereum are more than twenty public chains such as Solana, Avalanche, and others.

The counterpart of 6.3 BTC is fiat currency itself.

Seventh, BTC has anti-capture properties.

7.1 Proof of Work (PoW) achieves physical layer defense through energy, geographical distribution, and hardware.

7.2 Proof of Stake (PoS) chains may be controlled by regulatory agencies or whales.

7.3 Who would you trust to provide the monetary base layer? Miners or stakers?

The above is the opinion of netizen @BastienSinclair. Dear readers, what are your thoughts and views on this? Feel free to elaborate in the comments.

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On Wednesday, BTC fluctuated around the 114k level. usdt 7.15, usd/cnh 7.18. The dollar index fell to around 98.5. Gold is still fluctuating at a high of $3368.