ETH

FOMObius

I sold all my Bitcoin yesterday morning, which i swore I’d never do. Will buy back if this gets fixed. This attack vector truly has me spooked. For those with the technical know, are the other top POW currencies similarly vulnerable to this type of spam? I assume LTC is, since it has SegWit. How about Doge? I’m just thinking hypothetically, if this ship goes down, which one will be runner up as a scarce store of value? Obviously ETH a would become #1, but what POW coin could replace BTC, if any?

01technowichi

It's also important to note that most of ETHs contracts are just tokens. Cardano does not need a contract for tokens, and thus won't ever have nearly as many contracts. There's also a massive volume of scam contracts on ETH, and really, those shouldn't count for comparison either.

gilg2

Looks like ETH will be replacing BTC soon enough. I will but more ETHEREUM, this is great news OP!

futurevandross1

Funny to see Bitcoin maxi's dealing with this stuff. Crying about OFAC compliant blocks with ETH, Turn out they the first ones to actually censor stuff.

ilsemprelaziale

I don't want to shill coins in here because everyone does it and it's literally impossible to predict the future. However, I believe in the narrative around ETH layer 2s and especially one of those coins was mentioned a lot in this thread. That one has good tech, brilliant business development and good marketing. Go read through all the comments and you'll quickly figure out which one I am talking about :D

CointestMod

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10szhfn/daily_general_discussion_february_4_2023_gmt0/).

CointestMod

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

CointestMod

#Polygon Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Polygon Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Background - Polygon is many-sided**. There's the main Polygon PoS network that acts as a sidechain to Ethereum, and then there are so many side projects, many of which deal with Layer 2: > > - MATIC: The main Polygon token, which is present on multiple networks > - Polygon PoS: The main Ethereum side-chain network that most are familiar with. It saves checkpoint state on the Ethereum network every [256 blocks (5 minutes)](https://research.binance.com/en/projects/matic-network). > - Polygon [Hermez](https://docs.hermez.io/#start-here-for-hermez-10-documentation): ZK-rollup Ethereum Layer 2 > - Polygon [Zero](https://blog.polygon.technology/introducing-plonky2/): A fast ZK-stark/ZK-snark hybrid solution built on the Plonky2 protocol. It proofs are theoretically [100x faster than current ZK proof calculations](https://blog.polygon.technology/zkverse-polygons-zero-knowledge-strategy-explained/). > - Polygon [Miden](https://blog.polygon.technology/polygon-announces-polygon-miden-a-stark-based-ethereum-compatible-rollup/): Stark-based ZK-rollup Ethereum layer 2 > - Polygon [Nightfall](https://blog.polygon.technology/zk-proofs-protocol-polygon-nightfall-launches-on-testnet-to-provide-low-cost-private-ethereum-transaction/): Enterprise version of Polygon that uses "ZK-Optimistic Rollups" (ZK proof for privacy and optimistic-rollup for scalability) > - Polygon Avail: Standalone network or side-chain solution > - Polygon Plasma Bridge: A legacy bridge that shouldn't be used anymore. > > This post will mainly focus on the Polygon PoS network. > > ------------------ > > **PROs** > > **Much faster and cheaper to use than Layer 1 Ethereum** > > The main benefit of using the Polygon PoS network is that it's an Ethereum side chain that provides faster and cheapers transactions for Ethereum tokens. It can process 1K-10K TPS with a [2-second average block time](https://polygonscan.com/chart/blocktime), which also has deterministic finality. The base fee is only 30 Gwei, and the total transaction fees hovers between [$0.1 to $0.5 USD](https://polygonscan.com/chart/transactionfee) (~4M transactions, ~30k total MATIC fees per day). > > This is also much cheaper than [optimistic rollups](https://l2fees.info/). > > **Largest Layer 2 network adoption** > > Among all the Layer 2 Ethereum solutions, Polygon PoS is completely ahead of every other competitor in terms total locked value with a [$4.8B USD market cap](https://defillama.com/chain/Polygon) (Jan 2021), compared to [$5.4 USD **Combined** Total Locked Value (TLV)](https://l2beat.com/) for the next 10 largest Layer 2 rollup solutions. Note that this does not include the $12B market cap of the MATIC token since that's a coin/token on multiple networks. DeFi support for Polygon is massive. > > One of the main issues with Layer 2 is that most are currently walled gardens with lackluster CEX/CeFi support for on/offramps. After all, the main benefit of lower fees on Layer 2 is lost if you can't on/offramp directly. Polygon is also ahead of competition here with support from Crypto_dot_com, Nexo, Binance (international), and Kucoin. Celsius Network will also have support mid-February. > > Polygon PoS is the only other large network besides Ethereum currently [https://support.opensea.io/hc/en-us/articles/4404027708051-Which-blockchains-does-OpenSea-support-](supported on OpenSea). > > **Weak competition** > > There are so many Ethereum Layer 2 competitors, but nearly all of them are rollups. Polygon PoS works differently in that it's a separate network where the state of the network is stored on Ethereum every 256 blocks. Thus, it doesn't directly compete with them. > > In addition, it also doesn't compete directly with Ethereum killers (ALGO, SOL, ETH, ADA, EGLD, etc.) in that it's designed as a side chain specifically for Ethereum. It shares popularity and as Ethereum grows. > > **Shares Ethereum developer tools** > > Polygon and Ethereum share similar EVM development tools (including Solidity and Vyper), so it's easy for Ethereum's large number of devs to develop for Polygon. > > Many Layer 2 rollups have yet to roll out EVM support while Polygon PoS is already battle-tested. > > **Abundance of research** > > For better or worse, Polygon is working on multiple Layer 2 solutions and constantly researching different protocols. Polygon Zero in particular provides [extremely-fast ZK proofs](https://blog.polygon.technology/zkverse-polygons-zero-knowledge-strategy-explained/), and its technology might become the future leader for ZK rollups. > > ------------------ > > Disclaimer: I currently do not own any MATIC. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4yjj/coin_inquiries_round_polygon_proarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find arguments on this topic in other rounds.

bny192677

No more Elon musk 1000 ETH giveaways?

Sizododayladyyu

The whole thing boils down to patience and buying what you can afford to lose. I'm still DCAing in ETH, Matic, Dot, and MAXX. The latter gives guaranteed annual staking returns without depending on others participating in the ecosystem.

nota80T

BTC and ETC were part of planned obsolescence. BCH and ETH were made for long term operations support.

Titozar13

If investing my fiat money that doesn't have genuine value in cryptos like BTC, ETH and MATIC says that I'm crazy... Well I'm the most crazy guy in the world.

Primary_Technical

I will just earn and burn but never sell . Goals for 2023: 1. DCA in ETH 2. Earn and buy 20-30k r/cc Moons 😅 3. Maybe graduate college

cks63

I hope to eventual get back my initial ETH investment by selling my staking rewards, anything beyond that is a bonus.

flyfreeflylow

IF YOU'RE IN THE US: Yes. You have three reportable events here, one of which will incur taxes: 1. Traded fiat for an NFT. Reportable because it establishes your cost basis for the NFT. Your cost basis is $10. 2. Traded NFT for ETH. If the NFT was exactly $10 then you made $1756.54 in profit. That's taxable as short term capital gains. 3. Traded ETH for BTC. Even though you did it "immediately" the price of ETH had likely changed a little. You would have either profited or lost by (probably) some small amount, and would have short term capital gains to report for that difference. Capital gains can be positive or negative. Negative capital gains offset positive gains and can be carried forward indefinitely. This trade also establishes the cost basis for your BTC for when you eventually trade or sell it.

Ok-Grapefruit1284

I’m honestly not sure I wouldn’t look at the ratio. I’m not good at crypto but I’d be questioning it like, between the two. For example, if I’m 70/30 ETH BTC, do I want to convert some more ETH to BTC? Or, if I have 2 BTC, is the cost of ETH low enough that I might be able to get great gains moving half of that into more ETH? It’s probably a dumb take on it but that’s what I would be trying to figure out.

Vegas_42

I watched my gains in 2021 melting away. I try to avoid that pain next time. I have a strategy based on the assumption that in the next bullrun the total market cap will do a 15x from the bottom to the top. Last cycle it was close to x30 from bottom to top. After 5x I cash out 25%. After the next 2x I sell 1/3. From there I wait for the last 1.5x in order to sell 80%. The rest I let just ride in case of an unexpected crazy bullrun. This will be cashed out 100% during the dead cat bounce after the first part of the crash. When we see the top in hindsight I wait 12 month from there to buy back in. For now until at least EOY 2024, I buy BTC/ETH daily. My altcoin bags are already filled and generate staking rewards. That's my plan.

Cheese6260

Just stick to the blue chips BTC and ETH and avoid the stress

Mediocre_Suspect_203

I’m fine not investing in meme coins…I stick with bitcoin,matic,atom and ETH.

coinfeeds-bot

tldr; Shiba Inu is now the most traded crypto among the top 1000 ETH/USD whales. It also holds the biggest token position by dollar value. At the time of writing on Saturday, SHIB had reached $0.00001429, up by 14.5% in the last 24 hours. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Cheese6260

So much less regret by sticking with BTC/ETH. It’s all I will only ever by anymore

surrender_the_juice

I don’t invest in anything but BTC and ETH so no, it’s not hard.

Ernest-Everhard42

Yeah for sure, but, and it doesn’t mean much short term, but atom has been my best investment. Staking + airdrops kept me even, airdrops alone when worth a lot. Atom has outperformed both btc/ETH for me. However, I see your point and agree. Luckily, I’m still staking the boy boys too.

Cheese6260

For real BTC is a great asset to hold. I’m an ETH bull but BTC right there with it

surrender_the_juice

Nope. I’m not interested in trying to trade and catch the top. I’m in BTC and ETH for the long term.

chrisbrown21357

Layerswap.io has a new cross chain swap. You can move USDC or ETH between Arbitrum and Optimism. You can also on/off-ramp directly between exchanges and L2. It’s a flat fee rather than gas based.

imihevc

Luckily, that was only tokens from some airdrops. Not so much, but i would like to transfer those token for something other. I have same sentiment as you, I own some ETH as part of my crypto portfolio, ali but I would never buy any ERC20 token, because of transfer fee.

Dayotafiq

That's the problem with ETH tokens mostly when you trade them on Dexes ( cold wallet). This is the reason I don't like trading ETH tokens on Dexes. I prefer to use CEXs like Binance and MEXC. I mostly trade on MEXC due to their security history tho, I do trade BSC tokens with less gas fees on Dexes.

CharlieTheo-14

Loaded up more ETH. Time to go shopping for a new avatar!

TurbanD00med

This sub loves ETH, brace for hate. But it's probably the most sensible comment I've seen here in a while, so I have to agree.

rootpl

Oh yes 100%. This last bull market I was selling once a week. While my purchase DCA schedule was once a month in comparison. I've sold most of my crypto in about 7 weeks? It's really hard to time it but it worked out pretty well. But I've started selling my ETH at $1800 mark lol. I wish I'd waited longer but still made a ton of profit.

golocalo

ETH is outdated 🤷‍♂️ It’ll be hard for it to compete as time goes on because its governance and adaptability are a mess.

Maxx3141

I see my BTC and ETH as a long term savings account. So i have no plans to "exit" except I want to make a real purchase with it one day (like real estate, not for luxury at least). So I also don't really plan to ever exit crypto entirely - of course I would sell almost all if that's necessary. But I would still continue saving in crypto afterwards I guess.

HacksawJimDGN

Will ETH ever have reasonable gas fees?

dont_shit_the_bed

Just yolo it all and stake ETH Come back in 3 years and change your life

XnoonefromnowhereX

It's an open secret that ETH sucks, we just act like it's a bug and not a feature that it's basically impossible to use.

DAGCRO

Don't worry about bull runs or bear markets or whale activity too much. Just buy small amounts of Bitcoin and ETH every week or so until you can study up on other projects. That also gives you time in the market so you have a better feel for how the markets work. Having time/experience in the market is invaluable.

Grunblau

Might be the first time you can just plan to hold above $60K. Look at the rainbow and see how we are leveling off. There will be ups and downs, but if you believe in BTC and ETH, set aside 1/4 for swing trading and hold the rest in storage. So assuming approx 1.25BTC and 5 ETH. Put the full BTC away with 4 ETH. Then bank anything over 1/4 of your holdings made from swing trading.

MyKingdomForADram

Imma buy 50e ETH, defs expect a full on crash.

imihevc

ETH fees are high again. Just tested transferring some ERC20 tokens from my Ledger, 25% of the transferred amount is fee.

Hodlbag

Tried to give out some Moons and can't due to ETH fee... 🤕

dmx442

Let's imagine you have a sizeable BTC and ETH stack, currently worth 50k$. How would your exit plan look like? When would you sell?

KA012345

I’m such a degen I bought ETH weekly all the way down to the $800’s

KA012345

Regulations are low key bullish for the blue chips like BTC, ETH, and ADA

denimglasses1

ETH looking strong atm. Nice to see it creeping on upwards

coinfeeds-bot

tldr; A hacker account, “Fake_Phishing7064”, recently sent funds to an Externally Owned Account (EOA). The EOA has moved over 100 ethereum (ETH) valued at $165k to Tornado Cash, a crypto mixer. The address is very active, having made over 20 transactions in the past week. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Over 60% of Dogecoin (DOGE) and Shiba Inu (SHIB) holders are profitable in their investments, according to IntoTheBlock. Meanwhile, 45% of Shib Inu holders are in green territory, while 47% are underwater. The majority of the holders of the top two cryptos by market cap, Bitcoin (BTC) and ETH (ETH), are in the green. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

xmister85

Best bet for him woudl have been Btc and ETH.

_Zazu95_

Yes and ETH standard lol

J-96788-EU

They ARE much cheaper ONCE your ETH is on them. In addition Optimism is going to release an upgrade soon to further reduce gas fees

rootpl

Perhaps haven't tried. But for example when I was adding some ETH from Mainnet to my Reddit Vault before faucets were available I paid almost $10 in fees to move only $7.50 for future tipping fees etc. it's just rubbish really. I hope that L2s are much cheaper...

Automatic-Sherbert56

Usual BTC & ETH but also a little bit of DOT

J-96788-EU

Since Optimism and Arbitrum are both ETH L2s, shouldn't be easier to send ETH between them?

futurevandross1

Wont be surprised if ETH will burns 1 million tokens before 2024.

InternationalCake66

So he should buy ETH thrice?

DZANlMAL

Bought MATIC back in June of last year at $0.42 and just holding it. Up 200% but will diamond hands because I believe it will go much higher. Also bought some BTC and ETH early January before this pump and plan to hold and will DCA only if BTC drops back down to near those levels. Sitting tight for now and not buying anymore as crypto makes up roughly 8% of my portfolio at the moment. 47% in stocks and holding 45% in cash earning 4.15% APY on Robinhood Gold.

bearwhale-

Its already on 4th place dude. Or are you also counting stable coins and BNB just because it has a higher marketcap? Its BTC , ETH, XRP & ADA. The only competitor in the top 5 to Cardano is Ethereum. And ETH staking sucks and it just became a centralized piece of garbage after the merge imo. XRP is a centralized bankers coin, so there is a bright future for Cardano.

CointestMod

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10szhfn/daily_general_discussion_february_4_2023_gmt0/).

CointestMod

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

CointestMod

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10szhfn/daily_general_discussion_february_4_2023_gmt0/).

CointestMod

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Nonocoiner

You could gamble maybe 10%, and hope DOT will pump at some point, but you should never sell more ETH than you are prepared to lose.

Nonocoiner

I wouldn't say that, but I'm definitely balls deep into ETH :)

FldLima

ETH and high gass, name a more toxic duo, i'll wait.

FlyingDutchmantoMoon

I meant its no use comparing what 1 ADA is worth in BTC and 1 ETH is worth in BTC cause both have a vastly different supply

Nonocoiner

If you swapped at ATH you're currently down of course. If you DCA'ed your BTC to ETH over the past years, like I did, you would easily be up 200 to 300 % on the ratio though though.

CointestMod

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10szhfn/daily_general_discussion_february_4_2023_gmt0/).

CointestMod

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

CointestMod

#Dogecoin Pro-Arguments Below is an argument written by CreepToeCurrentSea which won 1st place in the Dogecoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Dogecoin is a cryptocurrency that was created by IBM engineers as a joke aimed at cryptocurrency investors on December 6, 2013. It was regarded as the first meme coin, featuring the well-known meme dog "Doge." It has had its fair share of criticisms and triumphs, as well as media problems, particularly with regard to Elon Musk, CEO of Tesla, who also considers himself the "Dogefather." Dogecoin is now in the top ten in terms of cryptocurrency market capitalization, with a trading volume of around $233,000,000, and is down 90% from its all-time high. > > # PRO's > > **One of the OG Coins** > > * Doge was the first meme coin to appear on the crypto market, having been created in late 2013. Despite thousands of new meme coins attempting to dethrone it, it remains in the top ten cryptocurrencies in terms of market capitalization almost 9 years later. The number of supporters it has amassed since its inception is no small feat, and it has even increased during the most recent bull run. Doge has come a long way since being labeled as just a joke and now become more of the household names in Crypto. In terms of market time, Doge clearly has the upper hand. > > **Transaction Fees and Block Time** > > * The most recent average transaction fee for Dogecoin is 0.768 DOGE or $0.046 with a block time of approximately 1 minute. These are the metrics that define an ideal cryptocurrency for transactional purposes. In comparison to BTC and ETH, which have transaction fees of 0.000045 BTC or $0.875 and 0.0023 ETH or $3.13, respectively, and average block times of around 10 minutes and 0.2 minutes. If a user wants to make a transfer, Dogecoin is one of the better options because it has less expensive transaction fees and has faster block times than most cryptocurrencies. > > **Day-Trader's Paradise** > > * Dogecoin is a haven for day traders due to its volatility on multiple exchanges and hundreds of pairs. Although the cryptocurrency market is volatile in general, Dogecoin has the advantage of being an older coin than most meme coins, allowing for a more secure network, a high transaction rate, and extreme price fluctuations. Traders will be able to trade doge on a daily basis without having to worry about blackouts or network congestions (except when the exchange itself is pausing transactions, etc.) > > **Community Owned** > > * Dogecoin has a strong community, with 2.3 million Reddit users, 3.4 million Twitter followers, and 30K Discord users. Dogecoin has come a long way from being referred to as "a joke" to being considered a reputable coin in the top ten cryptocurrencies. You can find their announcements, trail map, FAQs, guides, advisories, and dev blogs on their website (which is clean and very meme-like in its own way). They also have notable advisors on board, including Elon Musk's (Legal and Finance) representative and Vitalik Buterin. The Doge community, through the Doge Foundation, also participated in numerous fundraisers and other charitable acts, demonstrating a more positive side of the otherwise vilified crypto communities labeled as "greedy" or "degenerates." > > *Sources:* > > [*https://dogecoin.com/*](https://dogecoin.com/) > > [*https://bitinfocharts.com/comparison/tweets-btc-eth-doge.html#3m*](https://bitinfocharts.com/comparison/transactionfees-doge-dogecoin.html#3y) > > [*https://github.com/dogecoin/dogecoin/blob/master/COPYING*](https://github.com/dogecoin/dogecoin/blob/master/COPYING) > > [*https://www.coingecko.com/en/coins/dogecoin#markets*](https://www.coingecko.com/en/coins/dogecoin#markets) > > [*https://www.reddit.com/r/dogecoin/*](https://www.reddit.com/r/dogecoin/) > > [*https://foundation.dogecoin.com/*](https://foundation.dogecoin.com/) > > [*https://web.archive.org/web/20180603102446/https://papers.ssrn.com/sol3/papers.cfm?abstract\_id=3091219*](https://web.archive.org/web/20180603102446/https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3091219) > > [*https://www.forbes.com/uk/advisor/investing/what-is-dogecoin/*](https://www.forbes.com/uk/advisor/investing/what-is-dogecoin/) > > [*https://web.archive.org/web/20200211215434/https://www.latimes.com/business/technology/la-fi-tn-jamaican-bobsled-dogecoin-currency-meme-20140120-story.html*](https://web.archive.org/web/20200211215434/https://www.latimes.com/business/technology/la-fi-tn-jamaican-bobsled-dogecoin-currency-meme-20140120-story.html) > > [*https://web.archive.org/web/20140202003942/http://www.nbcnews.com/technology/dogecoin-cryptocurrency-donors-help-send-indian-athletes-sochi-2D12024654*](https://web.archive.org/web/20140202003942/http://www.nbcnews.com/technology/dogecoin-cryptocurrency-donors-help-send-indian-athletes-sochi-2D12024654) > > [*https://web.archive.org/web/20140714140736/http://www.ibtimes.co.uk/most-valuable-tweet-history-donates-11000-worth-dogecoin-kenyan-water-charity-1440565*](https://web.archive.org/web/20140714140736/http://www.ibtimes.co.uk/most-valuable-tweet-history-donates-11000-worth-dogecoin-kenyan-water-charity-1440565) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgsfy/coin_inquiries_dogecoin_proarguments_august_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Dogecoin) to find arguments on this topic in other rounds.

Midwest-life-3389

Had a friend that went to college with and pushed him and pushed him to buy ETH at $17… Let that sink in but like he says didnt know doesnt care now has a good job but still.. $17 for ETH

Giga79

The Ethereum sub is like /buttcoin for ETH. More people spout nonsense FUD there than anywhere else.

Giga79

It's basically what Cosmos is, but on Optimism. Customisable app-layers instead of static blockchain-layers. Below is a pretty good showcase of what Bedrock is capable of. Instead of forking the EVM onto a new layer someone replaced it with the Minecraft game engine instead, as a proof of concept, so the entire game ran on-chain. https://dev.optimism.io/opcraft-autonomous-world/ Now apps/layers aren't limited to being *like-ETH* anymore, but can still inherent Ethereum's security.

Fulllclip

My horoscope said I will see a decrease in my wealth soon. I don’t believe in astrology, so I bought more ETH. I believe in ETH

Giga79

www.chainlist.xyz - to add Nova to your wallet www.orbiter.finance - to bridge to Nova Moon's don't automatically show up on Sushi. The link below auto-fills. Taken from [Sushi's blog](https://www.sushi.com/blog/trading-reddit-moon-token). https://app.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0&chainId=42170 Don't forget to read up on [CCIP30](https://www.reddit.com/r/CryptoCurrency/comments/u3js8m/ccip_030_create_karma_multiplier_based_on_moon/) first if you plan to swap them for anything.

Zwiebel1

Dude you seriously need to decrease your exposure to altcoins considering all the scams and failures you walked in (disclaimer: I'm not considering ETH an altcoin)

lj26ft

During the Daubert hearings it was found Ripples buying and selling literally has almost no effect on the market. It dampens volatility but it intentionally follows the market I.e. BTC. Market makers exist in every major market in crypto. They just aren't usually as professional as Ripple. The largest impact to price from any announcement/ advertised event was the SEC announcement of the case. SEC Chairman Grundfest even said if you bring this lawsuit it's for a different reason than the law. We now know it's because Hinman and Clayton were involved with ETH promoters since 2014 before the ICO. The reason xrp has staying power during the lawsuit is because ODL is being used. With a good outcome to the case and further expansion of the network we may see XRP break away from the market and Ripple take a different tact.