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You already know that.
My name is Ben.
Today, I'm coming to you with a Sunday drive video.
While I drive to church, I tell you what's going on in the world of crypto.
And I've got something on my mind today
that I really, really, really want to share with you guys.
I think it's vitally important that, a lot of you that are newer to crypto,
you get this message.
You need to understand this.
So, I've been seeing a lot of videos, specifically on TikTok,
where the crypto community on TikTok is blowing up.
I'm seeing new creators left and right.
Good job.
New folks who are coming in.
Do your thing.
Get popular.
Give takes.
Make controversial opinions.
Do whatever you can to make your mark on the crypto space.
That's how I started out.
But what I want to tell you is this,
is that I've been seeing a lot of videos on crypto TikTok
talking specifically about Ethereum.
Now, I want to give you kind of my hierarchy of coins.
As you guys know, I like Bitcoin,
but I believe there's a lot more potential in Ethereum than Bitcoin.
I believe Ethereum is ultimately probably going to be the No. 1 smart contract platform out there
for a significant period of time.
However, you guys know I love ADA as well, Cardano community.
I love Cardano.
I think Cardano is the only coin with a real shot to unseat Ethereum.
But ultimately, it's just got a very tough row to hoe.
It is possible, but my forecast is still to see Ethereum at No. 1.
It doesn't mean Cardano is not better technology.
It doesn't mean it doesn't have a better community.
I'm going to get into the reasons why I think Ethereum stays No. 1 in a minute.
You guys know XRP Army,
XRP Army, we hit it up.
You guys already know that.
We love the XRP community,
but it's a totally different space than, you know, public smart contracts
on Ethereum or on, you know, any blockchain.
So I want to confess my love for Ethereum here to you guys in this video.
First and foremost,
I want to explain what I'm seeing and why people are dead wrong.
And then I'm also going to tell you why I relate to that.
I relate to it, but they're dead wrong.
Okay. So, there was a guy doing a video.
And, guys, I'm just not great at remembering who did these videos.
So I would like to give proper credit to these people.
Maybe somebody can find them and give them the proper credit in the comments.
But there's a guy who is doing a pretty, pretty funny series.
Well, interesting anyways.
Where what he's doing is he's taking all, like, a ton of coins, and he's ranking them,
kind of like Dave Portnoy does,
with the S-tier at the top,
then you got A, B, C, D, E, yada yada yada.
He puts--
this guy put Ethereum on the B-tier.
He put Ethereum on the B-tier.
He put--
he put Filecoin above Ethereum.
And I was like, "You've got to be kidding me."
There's another person who did a video explaining why Ethereum--
and I don't remember his name either.
Why Ethereum is basically going to be forgotten about in 10 years.
In 10 years, it's going to be so irrelevant.
All these other blockchains are going to take over.
And, you know, Ethereum's going to be irrelevant in 10 years.
Guys, that cannot be further from the truth.
Now, why are these people saying this?
Okay.
In almost every case, I'm very confident just statistically--
now, this may not be true for these two specific videos.
I would argue I believe that they are true, but I don't know for sure.
It's not a guarantee.
These are people who have not been in crypto since we call it the class of 2017, at least.
You guys know I got in Bitcoin in 2012.
I really--
I really, really, really got all in crypto in 2017.
But I bought Bitcoin in 2012.
I got the Mt. Gox receipts, the whole thing. You guys know.
But the point is, is 2017 was really when altcoins hit the scene.
You know, I mean, you got Dogecoin in 2013.
You got Litecoin in 2012, yada yada yada.
But altcoin season didn't really start till 2017.
So, this is when people really got interested in altcoins.
And I will tell you,
if TikTok were around then and I were to make videos,
I would have had the exact same opinion that these people have.
I would have said,
"Oh, you know, Ethereum's clunky."
"It's just the first one."
"There's better ones popping up every single day."
Yada yada yada.
"And right now, it's got the first mover advantage, but it's only going to last so long."
"Bitcoin's only going to last so long,"
which I do agree with.
But
I had those same opinions back then.
Except the only difference is,
instead of saying that Polkadot or Cardano or, you know, Cosmos is better,
I would have been trying to argue at the time that TRON was a better and faster blockchain,
that EOS was a better and faster blockchain.
I was never a big fan of EOS, so I may not have said that.
But maybe Tezos in 2018.
I'd say Tezos would have been a better one.
So, there would have been a lot that I would have put above Ethereum.
And what I learned in 2017, 2018 and 2019 is that
Ethereum has so much more than just having a first mover advantage.
And remember this.
We talk about it all the time.
Does McDonald's have the very best hambur-- the very best cheeseburger on Earth?
Absolutely not.
Who sells more cheeseburgers than anyone on Earth?
McDonald's
Okay?
It's not always about who is the--
who has the best technology or the best hamburger,
the one that tastes the best,
the best ingredients,
the best restaurant.
Sometimes it's about convenience.
And Ethereum is way more convenient for people to use right now than anything else.
Why? Well, No. 1, it's got by far and away the largest ecosystem. Okay?
It has the most usage.
Not even close.
The most transactions.
There might be some smaller--
I know TRON, it passed Ethereum at some point in transactions in 2019,
but it was all fake.
It was all just Justin Sun pushing transactions to get a higher number.
So, the fact is, there's a lot of convenient things.
True, there are some non-convenient things.
Gas fees are really high.
That's going to remain for probably another two to four years. Okay?
The congestion is high,
but we're thinking the layer 2s are helping.
ETH merge is going to help with this as well. Okay?
And so, yes, McDonald's has some things too.
McDonald's burgers don't taste the best.
They're pretty much the fastest.
They're not made with the best ingredients though.
So, there are some positives and some negatives in something like McDonald's that makes it No. 1.
Ethereum is the same way.
It's got some negatives. It's got some positives.
The positives outweigh the negatives.
The thing that I slept on in Ethereum in 2018, why--
the thing that really caught me by surprise,
and I want you understand,
there were times when TRON and EOS were making up massive ground against Ethereum.
There were times.
And then what happened?
ETH dominance started kicking back up.
Those projects went down.
Now, neither one of them are very relevant today.
TRON's been a little more relevant in the last couple of months.
But it is not even close to being spoken with Ethereum. Okay?
So, the thing that I missed,
two things.
Two things that kept Ethereum on top and will remain keeping them on top.
And I'll actually add a third thing.
But the two things back then that kept them on top were
it has the biggest pool of developers, and it's not even close.
It's not even close.
Look at the number of ETH developers versus everything else.
Drastically wider than everything else. Okay?
No. 2 is the enterprise adoption of Ethereum.
How many institutions are adopting, you know, Solana?
They're not.
How many enterprise,
how many big blockchains or big companies have talked about
using the Ethereum blockchain for different things?
A ton!
You can go look it up.
There's tons of articles about companies building on Ethereum.
So, you've got those two things pushing really far forward.
Now, one reason why say I think Cardano has definitely some potential to unseat Ethereum is
Cardano's entire premise along with having superior technology--
Cardano's entire premise is,
or Charles Hoskinson's premise,
is that he is trying to make a language,
a computer language or development language
that basically translates into already existing computer programming languages.
So, basically, where Ethereum has a pool of Ethereum developers that understand Solidity,
basically, you have the Plutus smart contract language
where regular developers can easily port over into programming on Cardano,
thus making its pool of developers as large as Ethereum's.
Actually dwarfing it by a considerable amount.
We have yet to see how that plays out.
So we've got to watch that.
But the third thing that I would add here for this going forward is learning curve.
Okay?
The learning curve to use Ethereum has already been crossed by many, many, many people
who've gotten into NFTs and gotten into the world of Web3.
However, going forward,
every new blockchain that gets introduced, it's an additional learning curve.
And a lot of people are just going to say,
"Ah! The gas fees on Ethereum are high, but I'm going to go ahead and use this
because it's easier than the counterparts."
Don't discount convenience.
Do not discount convenience.
It is extremely important.
That's why we have--
all have money sitting in the bank.
And we know it's bad for our money.
Because of convenience.
So, I just want to conclude by saying we're going to be putting out a video
probably next week on some updates about the ETH merge.
It's going very well so far.
There's only one more testnet that it needs to launch on before it's ready.
And it's going to be really exciting to see this roll out towards the end of the year.
Getting into the benefits of the ETH merge,
where I found--
the estimates that I had,
we're looking at the Ethereum inflation dropping from 4.3% to 0.3%,
over a 90% drop,
but the reality is, is that it's actually dropping to 0.2%.
It's like a 95% drop in inflation for Ethereum.
So, we're going to be getting into that this week coming up.
Very exciting stuff.
So, ETH Gang, where are you at?
Make sure to drop that down below in the comments.
And don't forget about my Cardano community.
We don't say ADA Gang.
We never say that anymore.
So you guys drop that down below.
And hey, if you're in XRP, go and throw the X up down there as well.
So, thank you guys so much for watching this video.
I will see you guys on the livestream tomorrow.
We got a vlog coming out tonight.
Some of my trip while I was gone.
And that's all I got.
Be blessed.
BitBoy out.