A pure shill of the crypto OGs Bitcoin and Ethereum - Mine Digital
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A pure shill of the crypto OGs Bitcoin and Ethereum

March 30, 2020 • 
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Pure, blatant, unadulterated, shills. This week we dive into the two biggest coins in the space and look at why they are the big dogs.

A pure shill of the Crypto OGs

The OGs in this space

This is my third Sunday Shill and I still have not done a straight-up shill. The first Sunday Shill was post-Friday the 13th and I discussed the arbitrage and fire-sale opportunities floating around crypto. The second Sunday Shill was throwing around some ideas about what might make Bitcoin fulfill its safe haven narrative and make it rise like a Phoenix from the ashes of the global economy. Both great shills, just not a shill in its purest form.

When I conjured the idea of this little read, I was really imagining myself just shilling my favourite projects. But thanks to some bat fucker it has not played out like that. Which is silly, because nothing has changed. The fundamentals of these projects are still the same. We will be back to where we were and new highs in due time(not financial advice). So this week, I am going to do some straight shills. Not getting into the technicals, just pure, blatant, unadulterated, shills.

Bitcoin- The big swinging dick of crypto

My first love. None of us would be here right now if it was not for the big swinging dick that is Bitcoin. Since Satoshi dropped Bitcoin on the world in 2009, no one has come close to knocking the big dog off its throne. It has stood the test of time and if it holds itself together through this economic dump fire we are currently in, in fact it has prospered, it is going to be taken a lot more seriously.

I can give you a bunch of shills about how it is one of the only truly decentralised cryptocurrencies, it has no CEO and has never done any fundraising, no VC money (Blockstream excluded) and no ICO, just a community-driven initiative. I could spin some shit about how it has a sound economic policy and is one of the only assets in the world that is truly scarce. Or even how the network is growing with the number of nodes, layer-2 solutions such as the Lightning Network, transactions and users (amount of wallets) increasing by the day.

But as Satoshi once said on the bitcointalk forum

“If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

To be honest, the main reason I still hold Bitcoin is purely emotional. I want to hold onto what has got me into the position I am today. But in saying that I still see it’s value. I personally think the currency narrative has passed and now the Digital Gold narrative is where it’s at now. That narrative is fine with me, I get around that.

When it comes down to it we don’t need everyone to put all their savings in Bitcoin and have it the global currency. We just need everyone to put in even 5% of their portfolio into this new asset class and diversify a bit like you would Gold, Stonks or Property.

Ethereum — Bitcoin nerdy little brother

Ethereum has the same level of prestige as Bitcoin, in that it has the first-mover advantage of being the first protocol able to host smart contracts (STFU BTC maxis). I am gonna assume most you nerds know what a smart contract is and in theory what they can do. If you don’t, spend 15mins on youtube and you will see what the fuss is about.

Since Ethereum’s inception there have been countless arguments over multiple aspects of the protocol and how to improve it, causing a bunch of other blockchains to popup and Ethereum to start its evolution into Ethereum 2.0. However most of these projects have fallen into a heap, and ETH still remains improving slowly by the day. Again, this is a shill, not a lecture, so if you want a deeper dive to check out this fantastic report Into the Ether.

Why do I froth Ethereum if it is not even where it needs to be and there are a bunch of other blockchains doing the same thing?

Let me give you a my shill

1. I respect Vitalik. This guy is a proper autist and visionary, he is anti-shill, anti-hype and dedicated to improving the world through the technology he has created. So much so that he keeps it completely open-source so that any developer can look at the code and contribute.

He wants it to succeed not just to change enterprise (Which he is doing with the Ethereum Enterprise Alliance) but to lift third world countries up and allow them to build up their own economies.

2. Decentralised Finance (DeFi). As mentioned before there are plenty of arguments in the blockchain community and Ethereum about the best solutions for the problems they are facing which has caused them to create massive network updates and develop Serenity, Ethereum 2.0.

But over the last year DeFi has emerged as the next buzzword in the Blockchain space and guess what? It is pretty much all built on Ethereum 1.0 and is working just fine. Just the other month DeFi hit over a billion dollars (link) locked in smart contracts on the Ethereum network and it is growing at a rapid rate. To put it in perspective, 2 weeks before it hit a billion it was at like 800 million. Sounds like it is going alright to me.

3. Over 60% of Dapps are being built on Ethereum. You will always hear some nerds pipe up whenever a comment about how nothing is being built on any other Blockchain other than Ethereum. But it is true, to the extent that nothing USEFUL is being built on any other blockchain besides Ethereum, unless of course you like gambling.

So for anyone reading this, before you have an aneurysm about me dissing your favourite project and how people aren’t building on it. Just know, I don’t give a shit about a couple of gimps building some gaming project on Tron or some gambling thing on EOS.

4. Staking, the last part of my shill. This part is probably the most highly speculative aspect of the Ethereum. However, if you believe in smart contracts having a future and Ethereum being the dominant smart contract platform, then you don’t want to miss this opportunity at passive income.

Passive income, sounds mint right? It has been announced that running a node can get you around 4%-10% in returns.

Ethereum 2.0 needs to be launched before staking can go live and to run a node also requires 32 Ethereum. So until then this is a perfect time to stack some ETH and try to get a couple nodes together. Because once staking is live it’ll be moon motherfuckin Lambo time.

TLDR

This week I have only shilled you two projects. The big poppas of this ecosystem. The OG’s. Two projects that I do believe have blue-chip futures in this space. But next week I am gonna shill you the fuckin MVP. If this week was Steph Curry and Klay Thompson next week will be Kevin Durant. I know that analogy would have been more relevant a year ago (IDGAF).

If you have taken the time to read this week’s shill and are aware that it pays to do your due diligence. Then I will just point out that Mine Digital lists both these coins, literally has the lowest onboarding fees in the world and I challenge you to find an exchange with a cheaper spot price.

Next week I will be shilling the glue that will hold this ecosystem together and take it to levels never seen before. A project that when combined with the right platform could start a bull run the likes of 2017-’18 (but only with projects that do something).

These three are the holy trinity, some call it the god protocol. At the end of the day a bet on crypto and smart contracts is a bet on these. If you don’t know what I will be shilling next week, well keep an eye out for my next shill. If you do know, keep an eye out anyways to get your weekly injection of dopamine and based shills.

Also, I am well aware this has not been coming out every Sunday. But until I get people asking me “Where the shill at?” I will post it when I am ready. Probably gonna keep it on a Monday.

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