{"id":263187,"date":"2021-05-31T17:29:35","date_gmt":"2021-05-31T14:29:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/druckenmiller-ethereum-is-myspace-before-facebook-while-bitcoin-won-as-google\/"},"modified":"2021-05-31T17:29:35","modified_gmt":"2021-05-31T14:29:35","slug":"druckenmiller-ethereum-is-myspace-before-facebook-while-bitcoin-won-as-google","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/druckenmiller-ethereum-is-myspace-before-facebook-while-bitcoin-won-as-google\/","title":{"rendered":"# Druckenmiller: Ethereum is &#8216;MySpace before Facebook&#8217; while Bitcoin won as &#8216;Google&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6ac46161bca98\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6ac46161bca98\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/druckenmiller-ethereum-is-myspace-before-facebook-while-bitcoin-won-as-google\/#Bloomberg_ETH_%E2%80%9Cwill_likely_exceed_Bitcoin%E2%80%9D\" >Bloomberg: ETH &#8220;will likely exceed Bitcoin&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/druckenmiller-ethereum-is-myspace-before-facebook-while-bitcoin-won-as-google\/#Druckenmiller_compares_Ethereum_to_MySpace\" >Druckenmiller compares Ethereum to MySpace<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Druckenmiller: Ethereum is &#8216;MySpace before <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a>&#8217; while Bitcoin won as &#8216;Google&#8217; <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) is at risk of a \u201cflippening\u201d from Ethereum (ETH), mainstream media claims as some familiar \u201cFUD\u201d returns to the spotlight.<\/p>\n<p>As BTC\/USD continues to flag below $40,000, an old argument has resurfaced \u2014 but major investors are fighting back. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bloomberg_ETH_%E2%80%9Cwill_likely_exceed_Bitcoin%E2%80%9D\"><\/span>Bloomberg: ETH &#8220;will likely exceed Bitcoin&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In an article on May 31, Bloomberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-31\/crypto-shakeout-stirs-debate-on-ether-s-shot-at-usurping-bitcoin\">cited<\/a> multiple sources claiming that in future, Ethereum will overtake Bitcoin as the world\u2019s cryptocurrency of choice. <\/p>\n<p>The largest altcoin \u201cwill likely exceed Bitcoin at some point in the future, as Ethereum will be superior when it comes to innovation and developer interest,\u201d Tegan Kline, co-founder of Blockchain firm Edge &amp; Node, told the publication. <\/p>\n<p>Another executive added that Ethereum has a \u201cbetter growth story.\u201d<\/p>\n<p>The argument is far from new\u00a0and has <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared regularly throughout Ethereum\u2019s existence. The Ethereum network\u2019s recent major upgrade has kept its profile afloat as ETH has outperformed Bitcoin over the past year and formed the backbone of the DeFi phenomenon.<\/p>\n<p>ETH\/BTC, long on a losing streak, reached its highest in three years earlier this month. <\/p>\n<p>ETH also managed to preserve more of its price gains in recent days than Bitcoin \u2014 as Cointelegraph reported, a key moving average remains intact for ETH\/USD, while BTC\/USD has failed to recapture &#8220;lines in the sand.&#8221;<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/48f5f2c8-4750-4fed-9d87-c8e464dcec0c.png\"><figcaption style=\"text-align: center;\"><em>ETH\/BTC 1-week candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Druckenmiller_compares_Ethereum_to_MySpace\"><\/span>Druckenmiller compares Ethereum to MySpace<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For all its impressive performance, however, claiming that Ethereum will replace Bitcoin at the top is nonsensical, many argue \u2014 and not only staunch Bitcoin supporters. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The only flippening happening this year <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/cY0necJ3GM\">pic.twitter.com\/cY0necJ3GM<\/a><\/p>\n<p>\u2014 William Clemente III (@WClementeIII) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1398756883931013124?ref_src=twsrc%5Etfw\">May 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thehustle.co\/stanley-druckenmiller-q-and-a-trung-phanin\">interview<\/a> with The Hustle last week, billionaire investor Stanley Druckenmiller became the latest non-technical figure to cast aside doubts about Bitcoin\u2019s staying power. <\/p>\n<p>\u201cI think BTC has won the store of value <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> because it\u2019s a brand, it\u2019s been around for 13-14 years and it has a finite supply,\u201d he said. <\/p>\n<blockquote><p>\u201cIs it going to be gold? I don\u2019t know. It\u2019s sure as hell doing a good imitation of it the last year or two.\u201d<\/p><\/blockquote>\n<p>For Druckenmiller, Ethereum is to Bitcoin what MySpace is to Google.<\/p>\n<p>\u201cI\u2019m a little more skeptical of whether it can hold its position. It reminds me a little of MySpace before Facebook,\u201d he continued. <\/p>\n<blockquote><p>\u201cOr maybe a better analogy is Yahoo before Google came along. Google wasn\u2019t that much faster than Yahoo, but it didn\u2019t need to be. All it needed to be was a little bit faster and the rest is history.\u201d<\/p><\/blockquote>\n<p>Others have long pointed out that technically, Bitcoin and Ethereum have little in common. Bitcoin\u2019s finite supply and years of resistance to attacks place it in a different league to any other cryptocurrency, and comparing it two them is an apples and oranges comparison. <\/p>\n<p>\u201cI <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly think all the other digital currencies don\u2019t really compete with Bitcoin and are in no way similar to Bitcoin,\u201d Saifedean Ammous, author of The Bitcoin Standard, famously <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/unchainedpodcast.com\/why-bitcoin-now-saifedean-ammous-on-why-bitcoin-is-the-most-advanced-form-of-money\/\">told<\/a> the Unchained Podcast in August 2017. <\/p>\n<blockquote><p>\u201cI think their real competition is, if I\u2019m generous, I\u2019ll say Amazon Web Services and these kinds of platforms.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/druckenmiller-ethereum-is-myspace-before-facebook-while-bitcoin-won-as-google\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Druckenmiller: Ethereum is &#8216;MySpace before Facebook&#8217; while Bitcoin won as &#8216;Google&#8217; &#8221; Bitcoin (BTC) is at risk of a \u201cflippening\u201d from Ethereum (ETH), mainstream media claims as some familiar \u201cFUD\u201d returns to the spotlight. As BTC\/USD continues to flag below $40,000, an old argument has resurfaced \u2014 but major investors are fighting back. Bloomberg:&#8230;<\/p>\n","protected":false},"author":1,"featured_media":263188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNThmZTA3OTgtYTgxNi00MGUxLTkyODEtYzE1ZTRhNzlmZDdlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,82402,74891,73785],"class_list":["post-263187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/263187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=263187"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/263187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/263188"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=263187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=263187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=263187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}