SECRET Reason Ethereum Moons in 2021 (ETH News That No One Is Talking About)

i hate being right i'm just kidding i love it and i've been telling you for the last year ethereum would outperform bitcoin while all these other youtubers are out there fighting over the bitcoin search table scraps this is the only channel where you get ethereum content delivered to you on the regular we like bitcoin we love ethereum and many people agree which is why ethereum has been exploding today we're going to take a deep dive into the secret upcoming change to ethereum that only the nerdiest nerds know about and and me of course i'm going to tell you what it is and why this will be massive for eth let's get it bid swap is the hottest new way to trade tokens probably all the top decentralized exchanges biswap gets you the very best price and value for your trades bitswap is changing the game try it now at welcome to bitboy crypto my name is ben day on this channel i show you how to make money in cryptocurrency if you like money and crypto please make sure to hit that subscribe button and if you like ethereum and want more eth content let us know by smashing the like button i know we can get this one to 15 000 likes also if you like trading eats make sure to check out buy bit right now we are running our buy bit bitcoin trading competition we may run an eth comp very soon afterwards you can get all the details and a buy bit tutorial by visiting deals in this video i'm going to be showing you the secret new reason why ethereum is going to go through the roof if you watch this video all the way until the end i'm going to reveal the best kept secret in crypto right now everyone is so obsessed with the charts they can't pick their eyes up to look and see all the cool fundamental building going on with eth and the protocol changes so today we're going to be going over yet another story detailing the prospects for each rise and it is rising meaning a new all-time high of 1481 dollars last night now it did drop but many people do believe that three thousand dollars in the next few weeks is possible i've said i believe twenty five hundred dollars by valentine's day if that happens my wife is going to be getting a dozen beautiful long-stemmed black eats for valentine's day just kidding she knows you keep her dirty hands off my crypto but in all seriousness there are tons of reasons why i believe that ethereum is going to the moon you see there's so much going on with ethereum it is hard to wrap it up into words that's why many people believe that ethereum is going to become the number one asset of 2021 when are these outlets going to start writing articles quoting me the bit squad knows we've been saying this long before these uppity investment fund managers and news media were talking about eth they are probably getting the idea for these articles from the bid squad over the last week though i've discovered yet another reason to be bullish if you watched one of our eth live streams last week you would have seen my discovery of the eip-1559 i didn't even know that was going on it's something no one here on youtube is really talking about but the crypto press is definitely into this the ethereum technicals are so sexy right now that no one is getting to know her personality her fundamentals so let's get a little nerdy here with the ip1559 and yes one of the authors of this proposal is the big boss man himself vitalik buterin you have to understand while vitalik may seem like an alien from outer space he definitely has a brain like one he sees far into the future but he also doesn't like to wait and i get that me neither so that's why early on as early as 2015 only one year after ethereum launched vitalik already saw and knew that ethereum was going to need an upgrade this upgrade now called e 2.0 was originally called the serenity update but long before the ethereum network clogged in 2017 due to crypto kitties of all things vitalik knew something was going to need to happen he saw the problems coming but e 2.0 itself won't solve everything one of the pesky problems that people don't like to talk about with ethereum is it has a scarcity problem it's one of those things that can definitely be overcome with demand but it's not as scarce as bitcoin and it doesn't have supply and demand built into it the same way the bitcoin does with the having event approximately every four years or every 210 000 blocks so what do i mean by this well bitcoin is famously known for its 21 million max supply ethereum has no max supply ethereum only has a circulating supply right now there are 114 million eve compared to 18.5 million btc but there's no cap on earth right now they're about 7.5 to 8 million each created per year to me the most significant part of this new proposal is the burning of eth to control the supply if we're going to have an institutional run of fomo on ethereum developers must make sure the supply can be maintained and eip 1559 is making sure of that so let's dig a little deeper into what it actually is according to a medium article by david hoffman the two main components of eip1559 are that it establishes the market rate for block inclusion and burns the majority of the eth in the transaction fee this will allow miners to carry on receiving fees which keeps them incentivized but the burning counterbalances inflation on the ethereum network many of the changes that have been proposed to fix these problems have tended to only benefit validator nodes or the one percent if you will but this change will help all ethereum holders burning heath removes supply therefore increasing the value of the remaining eat it's the same concept staking is built off of in addition to the burning though there is another purpose which is to control the market rate for block inclusion this is done through something called a slack mechanism and this is pretty cool when i looked into this i really liked it just keep in mind block sizes are an extremely crucial element for speed in fact this is the entire reason that bitcoin cash worked off from bitcoin and eventually my bitcoin sv worked off from bitcoin cash none of them could agree on the size of the blocks the bigger the block the faster the transaction now if this is the kind of thing that interests you we do have a big video on bitcoin cash coming out this week we get a lot of questions about it but the slack mechanism in eip-1559 allows for bigger blocks sometimes when there's a ton of congestion on the network just like there was in 2017 with cryptokitties or over the last summer with the device and nft craze the blocks will be bigger basically the blocks will be adaptable based upon how clogged the network is pretty cool fix if you ask me along with this mechanism and the burning these changes will give better rewards and confidence to the miners which will have an overall beneficial effect to ethereum this will help to secure the network and give it a higher level of stability but not everyone is a fan of these changes some miners do not like this upgrade and in fact they tried to stop it already so the point is this is not 100 official yet mostly because the two largest ethereum pools spark pool and f2 pool have not yet given their decision to support or reject eip1559 nine smaller pools abandoned together and while right now they make up a seeming minority they're a loud minority making a lot of noise about why this upgrade is a bad idea while sparkvue has not officially given their support or dismissal of the proposal they did retweet one person's negative opinion and said worth reading implying there is a conversation to be had here on the subject now before the last year i would have told you that it's okay to listen to both sides of an argument but clearly social media has proven to us recently that only one side of an argument is worth listening to so be careful disagreeing with the majority or you may get banned which is why we're going to be putting out a special video on decentralized social media and how ethereum can solve all of the ongoing censorship problems here pretty soon personally though when it comes to eip 1559 i'm not a nerd so i don't mind crypto like it makes much more sense to just buy it than spending a ton of money to get started with mining equipment just to barely make a profit over five or six years i would rather take that same amount of money just invest it into crypto sell tops and buy bottoms you'll come out way ahead doing that so i'm not concerned with the inner working politics of mining they act like hashrate is their precious but here's what i'm for controlling the eat supply this could eventually be the achilles heel of ethereum in the future if it isn't worked out making eth deflationary instead of inflationary needs to be a big focus for the network and in my opinion eip 1559 begins working toward that goal so i'm all for this but drop me some comments down below and let me know if you're for or against or don't care about this proposal the bottom line is burning ease should pump our bags and that's something we all want and need if eath is going to end up hitting 27k this year don't forget to smash the like button if you want more eath content on the channel that's all i got be blessed [Music] so

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