The Flippening The mere mention makes Bitcoin maxis
screech in nerd rage, Ethereum holders lose all bowel control in excitement, and Vitalik laughs in Russian. Ethereum flipping Bitcoin as the No. 1 crypto asset
by market cap would be a seismic shift that would send shockwaves
throughout the cryptoverse. Or would it? In this video, we take a look at The Flippening and what it would mean for crypto assets and blockchain. Hold on to your butts. This one's going to stir the pot. Let's get it! BitSwap is the hottest new way to trade tokens. Crawling all the top decentralized exchanges, BitSwap will get you the very best price
and value for your trades. BitSwap is changing the game. Try it now at bitswapdex.com. Welcome to BitBoy Crypto!
The largest crypto channel in all the Interwebs. My name is Ben. Everyday, I show you how to make money in crypto.
If you like money and crypto,
then make sure to hit that subscribe button. Now, before we get into talking
about Bitcoin and Ethereum, I want to remind you guys you can leverage trade
Bitcoin, Ethereum and other tokens on Bybit including Dogecoin now. Go long or short, as long as you're making gains
and using proper risk management and leverage that is responsible. Go to bitboycrypto.com/deals. Click on the Bybit link to get a sweet signup bonus. Bitcoin and Ethereum have been locked
in an epic battle for crypto dominance ever since Vitalik Buterin vowed to wage battle
against Max Kaiser and the Bitcoin maxis who dared bend the knee to Satoshi. At least that's what the Bitcoin maxis want you to think. But don't be fooled. There is no rivalry. And when Vitalik and his team
were making smart contracts, making Bitcoin obsolete definitely
wasn't on their radar. They just want to use this cool blockchain
technology thing to make something new.
Just here for the tech, am I right? And when Ethereum came out a few
years ago and started pumping, nearly all the maxis opened their Coinbase
accounts and bought a lot of ETH. That's the dirty little secret the maxis
don't want you to know. Most of the maxis became a maxi
because of Ethereum. Ethereum gained the title of having
a $100 billion market cap very quickly, less than two years, compared to Bitcoin taking almost five. It's true the landscapes that
launched them were very different, but it's not a stretch to say Ethereum has had
a lot more competition to rise above compared to Bitcoin.
Both coins share DNA in that they were both
mined by proof-of-work algorithms. They both have struggled
with controversial hardforks, ASIC mining centralization, copycat chains, and regulatory scrutiny. Both have survived. Now that I've lit the comment section on fire, let me continue. Seeing how I'm the BitBoy, I'm a fan of Bitcoin. Bitcoin's the first crypto I ever bought.
It was my gateway into the cryptoverse. I love Bitcoin! I believe in its ability to be a store of value. I routinely tell people that when you take profits,
you should be buying Bitcoin. I trade altcoins to buy more Bitcoin. Bitcoin is digital gold, and it's rock solid technology is making that possible. Ethereum is labeled as an S-coin by the haters. They deride it as a scam. That it can never beat Bitcoin as a store of value. And you know what? I agree with them, sort of. I agree with them because Ethereum
is none of those things. Ethereum is a blockchain technology. And you can own a piece of it. It was never trying to be a Bitcoin killer! And anyone who equates Ethereum
with being a scam currency is either blind to the fact or is a maxi. Oh, wait. I just repeated myself. Ethereum is a smart contract ecosystem. It's a thing to be used, not a store of value.
The Winklevoss twins are correct
when they said Bitcoin is digital gold and Ethereum is digital oil. Oil, like gold, is valuable, but in different ways. To say BTC is dominant is an understatement. It's a top dog by far and has been its entire life. Bitcoin continues to make history. It was the first coin to hit a $1 trillion market cap. It's also been the most stable
in regards to year-over-year ROI. Its gains are slowing but continue to blow away
anything from the traditional fiat markets. But this bull run is showing that
Bitcoin may have a weakness. And that weakness isn't its technology, but the fact that it was first. There's a concept in business and technology
known as the first mover advantage, which simply means the first thing to innovate in a business or technology
has advantage to similar things that follow it. And history seems to prove that, kind of. Businesses like eBay and Amazon continue
to dominate their core competencies. Brands like Gillette and Sony are still the standard
brands for razors and home stereos respectively. But first mover isn't a guarantee of long-term success. Just look at Kodak.
Or Xerox. Or Nokia. They are husks of what they used to be. They were all first to market. I can see a scenario where Bitcoin succumbs
to the pitfalls of the first mover advantage, inability to take advantage of new opportunities. Believe it or not, Bitcoin does have a group of developers
and they do make changes every once in a while but keep a light touch so as not to deviate too far from the original
whitepaper written by Satoshi Nakamoto. The question that will mean the difference for Bitcoin is whether or not the way Bitcoin currently is
maintains its relevancy to being a store of value. Keep in mind that Satoshi viewed
Bitcoin as a currency that can be mined on home computers, but it quickly morphed into something more
like gold that is mined by large companies. It's nothing like it was supposed to be.
And it changes. But are those changes enough
to make it retain its dominance? Only time will tell. Personally, I think that it won't. It may have some company at the top very soon. It's no secret that I'm an Ethereum fanboy. I even moved a holiday in honor of Ethereum. Thank you, Saint Valentines. I made an insane amount of money with Ethereum, and I use its smart contract capabilities
multiple times a day. We even have a universe of BitBoy NFTs
as an ERC-20 token.
I firmly believe that Ethereum and smart
contracts are the future of finance. I also believe that Ethereum will flip Bitcoin in this cycle. Yeah, I said it. Come at me, bro. Ethereum has the chops to pass
Bitcoin's market cap due to its utility going back to that
comparison to digital oil. It's vastly more useful than Bitcoin is in everyday life. I may be right or die for ETH, but I'm not getting Vitalik's face tattooed on my arm. Or neck. Just yet. Let's be frank, Ethereum has had a sloppy release
and a choppy controversial coming of age. Its development has never hit a deadline
and updates sometimes go off half-cocked. It has trouble scaling. Its lead developer, Vitalik Buterin, is annoyed
that he has to deal with people. And if you try making a DeFi trade
when it's busy and congested, it'll cost you more than the expensive meal
at your favorite steakhouse. With a tip. All that to say, I'm bullish on Ethereum
but also keenly aware of its flaws. That's because I'm not a maxi
and I know how to use logic and do research and be realistic and not be mean to people.
So we know what the faults and advantages
of both of Bitcoin and Ethereum are. But what does The Flippening specifically mean? Well, it means the market cap of Ethereum
surpasses that of Bitcoin. This isn't a price flip. It's an important distinction,
so don't get tripped up on that. How do you find the market cap? Well, it's usually listed on the coin indexes
like CoinGecko and CoinMarketCap. But if you don't have that handy, or just doing some moon math, just use this equation. Coin circulating supply times price, boom! Market cap. We're going to use some moon math to tease out
some different flippening scenarios, but more on that later.
What would a flip mean for Bitcoin and Ethereum? Well, there are a few outcomes that could happen. Bitcoin loses its prestige as digital gold and is seen more like a digital silver or copper. Still worth something but not that much. Bitcoin retains its value as digital gold and shrugs off
being bumped out of the top spot by market cap. It keeps trucking along, gaining value
and becomes less volatile. No. 3: Ethereum throws Bitcoin off of the Hell in
a Cell onto the announcers' table 16 feet below like Undertaker did to Mankind back in 1998. Bitcoin is shattered and becomes
a footnote in history. The final scenario would be devastating
to Bitcoin HODLers and maxis. Do I think it's likely? Well, it depends on how it happens. I can see a scenario where Bitcoin's value is targeted
by governments and taxed into oblivion, or Bitcoin becomes product ties by institutions and put behind walls that only
the rich and connected can get into.
This isn't far off. We've seen it happening in places like Hong Kong. We already are seeing synthetic
Bitcoin futures being offered. Governments are finding out
that they can't ban Bitcoin, but they can tax it to death, so they're looking at ways to FUD it
from gaining too much in value before they can grind every HODLer's gains way into IRS dust. If this is happening to Bitcoin
after Ethereum takes the lead, it would be game over for BTC. But if Bitcoin were able to retain its lead
and its value continue to climb faster than centralized powers can keep up, it could very well realize the hopes and dreams
that we all want it to achieve. Ethereum however faces a similar fate but only if it fails to top Bitcoin. Bitcoin may be compromised by the faults
first mover's advantage, but Ethereum has the same problem. It was the first smart contract platform. Cardano, Polkadot, EOS, TRON
and Binance Smart Chain are all competitors that offer unique solutions
to the problems Ethereum has created.
If Ethereum bounces off of Bitcoin's market cap, it could be sent back down into oblivion while another smart contract platform takes the lead. So here's the question. Will Ethereum flip Bitcoin soon? I think it will happen in this cycle. Bitcoin dominance has dropped below 50%
for the first time since 2018, and Ethereum's dominance has risen
and continues to show strong support levels while Bitcoin struggles to break resistance
that were previously thought to be no big deal.
The other thing that is bolstering Ethereum is the fact
that it's pivoting to a proof-of-stake consensus algorithm that will allow it to scale up, reduce transaction fees
and protect it from any further environmental FUD. However unfounded that FUD may be. This move to the London hardfork will also
make Ethereum much less inflationary. More ETH will be burned every
transaction than ever before. The value of the ETH token will
most likely skyrocket in July. This is happening when adoption is speeding up and institutions are starting to look beyond
just adding Bitcoin to their portfolios. That's right. Big money players are buying up ETH in huge chunks. Just look at the inflows. As of this video, Ethereum is sitting at just under 50%
of Bitcoin's $700 million market cap. This has been the trend. Ethereum is gaining on Bitcoin. Its growth is more explosive! Consistently outperforming Bitcoin, so it has the potential to surpass Bitcoin
without breaking a sweat. Conversely, Bitcoin is slowing its growth. It doesn't have the liquidity to make massive gains like it did a few years ago when the market cap was much smaller.
It's harder for Bitcoin to retain its lead
than it is for Ethereum to catch it. Don't take my word for it. Look at the data. Look at this chart. Look at these dolphins. I know gains, and I'm telling you that Ethereum has
the momentum in this bull run. I believe ETH has so much momentum
that it will surpass $20K this year. And while Bitcoin's most likely going
to hit a new all-time high somewhere around $300,000 to $322,000 and then settle over $100K
sometime in the next 12 months, Ethereum has potential to hit new all-time highs
well after it breaks $20K. But remember, all this is crypto education and not financial advice. So there you go. Light up the comments section. Are you #ETHGang or are you #BTCMaxi? What's your ETH and BTC price prediction for this year? Will Bitcoin lose steam or find a second wind? Is Elon Musk actually Satoshi Nakamoto? What costume do you want me to wear
when Ethereum hits $20K? Make those comments
then hit that subscribe button after you tap that thumbs up.
It really helps us out. That's all I got. Be blessed. BitBoy out..