​​'Ethereum Is (Not) Money' Trigger Tested Again And It Still | Crypto LVL

​​"Ethereum Is (Not) Money" Trigger Tested Again And It Still Works.

As the two largest cryptoassets by market capitalization - bitcoin (BTC) and ethereum (ETH) (plus several thousand other coins) - are competing for new money in a crypto beauty contest, the resurfaced question whether ETH is money once again added fuel to the fire.

While the traditional financial world does not consider BTC to be money, many BTC fans are of the same opinion about ETH.

The debate surrounding ETH and its use case as money has been thrust into the spotlight once again, thanks to Ryan Selkis, founder of US-based major crypto researcher Messari. Selkis published a mega-report entitled Crypto Thesis for 2021, which has a whole section called “ETH Isn’t Money.” While some hardcore Ethereans were quick to react to this statement, even some members of Messari’s own team do not agree with their boss.

However, the CEO stressed that ETH “will likely prove to be a terrific investment anyway.”

“A commodity that secures transactions on the world’s most valuable computing platform (gas for throttling, staking for processing), and that can be ubiquitously leveraged as collateral within a burgeoning new financial system, is plenty valuable. I love ETH, and I own a bunch,” he said.

Also, Selkis pointed to Ryan Watkins and Wilson Withiam, senior research analysts at Messari, who “just wrote a BIBLE on Ethereum 2.0” and they “disagree” with his own report’s section on ETH “pretty much point for point.”

According to them, this combination will provide ETH with an unprecedented combination of attributes from each of the three asset superclasses: capital assets, commodities, and stores of value, respectively.

“And it may also create a constant tug of war for ETH demanded by each use case,” they said.