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In this video, I discuss competition between smart contract networks like Ethereum and Binance Smart Chain (BSC), and how this makes it extremely difficult for their utility tokens to accrue value.
When gas fees get too high on Ethereum, developers and users move to other smart contract networks like BSC. The result is a race to the bottom, driven by a search for the lowest fees.
By contrast, Bitcoin doesn’t have to compete in this horse race. It had an immaculate conception, has credible monetary policy going forward, and is not subject to the price-competitive dynamics of utility tokens.
Not investment advice! Consult a financial advisor.
Ethereum:
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Binance and BNB:
An introduction to Binance Smart Chain (BSC):
Projects moving from Ethereum to BSC:
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