Veteran commodities trader Peter Brandt made waves this week with controversial comments about Ethereum. Responding to a complaint over high Ethereum gas fees, Brandt argued Ether lacks Bitcoin’s qualities as a long-term store of value.

The discussion started with trader JK venting frustration over a $29 fee to unstake tokens on Ethereum. Brandt seized on this complaint to make a broader point – that Ethereum’s functionality issues and high fees make it poorly suited as a crypto investment.

As he bluntly puts it, “the functionality and gas price of ETH make the crypto a piece of junk”. Unlike Bitcoin’s simplicity and reliability, Ethereum’s complex smart contract capabilities come at the cost of speed, efficiency, and affordability.

Beyond functionality, Brandt contends Ether lacks Bitcoin’s credentials as a long-term store of value. He sees little incentive for investors to hold ETH over the long run compared to BTC.

Bitcoin benefits from scarcity hard-coded into its protocol, transparent minting, and widespread adoption as digital gold. These qualities have allowed it to maintain value and act as a hedge against inflation over 13 years so far. Brandt argues Ether does not share these attributes.

Based on Ethereum’s functionality challenges and questionable store of value qualities, Brandt makes a stark prediction – “My prediction is that ETH may not even be a listed asset in 10 years”.

It’s a controversial call that Ethereum could entirely collapse in a decade. But his criticism highlights concerns over Ethereum’s ability to scale long-term and compete with the clear digital gold status of Bitcoin.

Brandt concludes that Ether and Bitcoin should not be seen as comparable assets. For investors prioritizing long-term holdings, Bitcoin provides scarcity and reliability that Ethereum lacks.

The post Top Trader Explains Why Ethereum is ‘a Piece of Junk’ Not Comparable to Bitcoin appeared first on CaptainAltcoin.

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