You are viewing a single comment's thread from:
RE: Billionaire Peter Thiel: "Bitcoin's Harder To Mine Than Gold... Has Great Potential"
Bitcoin is as much crypto oil as is ETH is, You use it to pay your transaction fees.
Bitcoin is as much crypto oil as is ETH is, You use it to pay your transaction fees.
Sure, bitcoin can be used to pay transaction fees, but it's mostly failed as a functional digital currency. It's soaring as a store of value (like digital gold).
ETH on the other hand is backed by everything that can be developed on the Ethereum platform. It mimics how the usefulness of oil extends far beyond how it's traded or used as a store of value.
The power of oil is found in the nearly endless number of ways we depend on its use. From plastics to fuel, and everything in between.
ETH / Ethereum has a much better claim to the idea of "digital oil" than bitcoin does.