Jay

I believe ETH will eventually replace BTC as crypto’s primary store of value. And Bitcoin’s future may look a lot more like DOGE than people want to admit. Look at Dogecoin. Its market value and cultural influence have survived, but its underlying network has become increasingly marginal. Today, it has fewer than 500 publicly reachable nodes. In 2024, a single old laptop exploited an unpatched vulnerability and crashed 69% of its publicly visible nodes. DOGE didn’t die. Its price, community and meme survived. Its mining security now largely depends on merged mining with Litecoin. That’s the fascinating part: a cryptocurrency can remain valuable even as its own network becomes less economically relevant. Bitcoin is obviously much stronger today. But I’m looking at the next 10 or 20 years, not today. Stablecoins, RWAs, lending, financial markets, digital art and countless other assets are building an increasingly substantial economy on Ethereum. Even BTC needs to become wrapped BTC to participate in much of that economy. I believe the most important store of value in crypto will eventually be the native asset of the network that holds the most economic value, not necessarily the coin that came first. That’s why I agree with Vitalik’s focus on ETH as a store of value. Ethereum doesn’t need to maximize fee burns. It needs to become indispensable. BTC may survive as digital gold, or eventually as a giant meme. ETH has a chance to become the reserve asset of an entire onchain economy.