With The Merge, Ethereum became a deflationary asset and could be finally seen as a positive-sum, productive crypto asset. Gaining more on the upside of profitability, lowering the cost of validation, having a tremendous community and potential to super grow the dapps from the ecosystem, and satisfying any low consumption and green energy supporter, Ethereum flippening Bitcoin comes back in a corner of the mind. I was one of the believers of the Flippening in 2017/2018 and now I am starting to revisit that feeling, but with a more clear view on that and supported by real changes.
And to create some buzz and hype of a possible Flippening, there are some fun sites tracking such an event. And one that I've stumbled upon is RatioGang which presents us with a ratio bar with the current price of ETH divided by the price of BTC and is used as a method of comparison between the value of both coins. It has three levels that point to where we are standing at any moment in time:
- The Carrot - Or the Death of Eth Party signifies that the Flippening is a chimera, just an illusion
- The Shrimp - Represents "Flippty Percent" which is a fun way of saying we're halfway to "The Flippening"
- The Dolphin - references “The Flippening” (where the total market cap of Ethereum > Bitcoin)
The flippening is an alive instrument that inclines the balance in one direction or the other. And while doing so the Maxis are there to get under the spotlight and sustain each of the causes.
- Ethereum - “is the Ethereum network - with everything it can do, everything that’s built on top of it, and all of the economic value it secures - seriously worth less than the single-purpose Bitcoin network?” That's for sure and this is one reason to see it as the King of Crypto!
- Bitcoin - “Muh flippening. The markets have proven you smug methheads wrong year over year. BTC is king. Eth will never be a store of value, (there's 20% more of it now since 2017), and the utility is dogshit--pay $20 to send your money or gamble on shitcoins.”
Regardless of the outcome, this is a great game to watch and see who will win it in the end. For the moment Ethereum looks to have made the right steps towards a potential flippening, but who knows how Bitcoin will react to it and how the market will see it. I must confess that I prefer Ethereum to Bitcoin for its utility and think that the flippening will happen at some point, what do you think?