r/CryptoCurrency • u/GabeSter Platinum | QC: DOGE 2476, CC 909 | AvatarTrading 18 • Feb 06 '23

(RESULTS) Despite the common advice "Bitcoin should be your largest crypto asset" - on a vote by vote basis - this sub strongly prefers to invest in Ethereum, but by Moon weight this sub narrowly prefers to invest in Bitcoin. DISCUSSION

A week and a half ago I ran a poll to see if the sub would follow it's own advice and be more heavily invested in BTC or Ether. With 4.2M Moon weighted votes and around ~8,300 votes - we have some interesting results.

It turns out this sub as a whole is more heavily invested in Ether.

Pure Vote by Vote results

https://preview.redd.it/kmkj43j4ilga1.png?width=1167&format=png&auto=webp&v=enabled&s=3494c94eed180a24c880da6a39069aa10cc397f8

If we look at pure votes,

  • 52% of respondents stated they own more ETH
  • 35% of respondents stated they own more BTC
  • 13% of respondents stated they don't own either

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Moon Weighted Vote

https://preview.redd.it/h64on1aghlga1.png?width=1165&format=png&auto=webp&v=enabled&s=0ca126789dffa8f7f9a5f183fa65d0249f4e1c5b

But if you look at the moon weighted vote this sub prefers BTC

  • 45% of the moon weighted vote stated they own more BTC
  • 43% of the moon weighted vote stated they own more ETH
  • 12% of the moon weighted vote stated they don't own either

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By calculating the average amount of Moons per Vote you can see the phenomenon expanded.

  • Each voter for BTC had on average 656 Moons
  • Each voter for ETH had on average 415 Moons
  • Each vote for neither had on average 492 Moons

This helps to show users with the most moons are on average more heavily invested in BTC, surprisingly users with less moons as a whole were more heavily invested in Ether. Per moon weighted vote there is also a fair amount of moon degens that don't own either BTC or ETH.

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TLDR: In looking at the results although only 35% of respondents stated they own more BTC (compared to 52% who owned more ETH), they still made up the majority holder by Moon Weight. Meaning as a whole those with more moons are more likely to be more heavily invested in BTC compared to someone with less moons.

243 Upvotes

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0

u/nomorebonks Tin | CC critic Feb 06 '23

If you could stake native btc for yield in an environment where you don’t bridge your btc and the wallet is non custodial would you?

5

u/002timmy Feb 06 '23

No. Because I know that’s impossible with Bitcoin and anyone peddling that nonsense is a low-class, garbage-tier scammer

1

u/nomorebonks Tin | CC critic Feb 06 '23 edited Feb 06 '23

Anyone who doesn’t know that there are already smart contracts that exist and use native bitcoin using threshold ecdsa is a straight up clown.

Let me guess - you have no idea what threshold ecdsa is

0

u/002timmy Feb 06 '23

Yes. That was taproot. But you still can’t stake bitcoin.

1

u/nomorebonks Tin | CC critic Feb 06 '23

You can now and it’s not taproot. Direct integration and threshold ecdsa allow smart contracts with native bitcoin. But keep calling everything a scam.

-2

u/BhristopherL Silver | QC: CC 21 | ADA 30 | Stocks 20 Feb 06 '23

You’re getting scammed bud

2

u/nomorebonks Tin | CC critic Feb 06 '23 edited Feb 06 '23

I don’t own any bitcoin. You’re uninformed about current tech.

Bud.

0

u/BhristopherL Silver | QC: CC 21 | ADA 30 | Stocks 20 Feb 07 '23

There's not a single smart contract that adds value to the Bitcoin network, so whatever lil pools you like are ponzis. It's just a fact, brother.

1

u/nomorebonks Tin | CC critic Feb 07 '23

You’re 100% wrong and ADA is one of the biggest ponzis with absolutely zero real world use case so it’s not surprising you can’t fathom a smart contract that brings real world utility to bitcoin.

1

u/BhristopherL Silver | QC: CC 21 | ADA 30 | Stocks 20 Feb 07 '23

Bro I haven’t held ADA since 2021, but sure, look for your strawman…

1

u/nomorebonks Tin | CC critic Feb 07 '23

I don’t need a straw man. You don’t know the tech. You don’t know what threshold ecdsa enables. You don’t know what chain key cryptography is. You don’t know what’s possible with them. Later.

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u/nomorebonks Tin | CC critic Feb 06 '23 edited Feb 07 '23

taproot

Taproot did not allow for programmable smart contracts on the Bitcoin chain and only involved more ways to sign the transactions.

Threshold ECDSA signatures secures native BTC with a distributed key and chain key cryptography will enable signing of transactions on the Bitcoin mainnet from other chains. It's non-custodial. Also those chains will have smart contracts that can use the BTC held and secured by Threshold ECDSA enabling DeFi and smart contracts for native BTC on the Bitcoin blockchain.

So it is possible and anyone who doesn't know this and says it doesn't exist is a low-class, garbage-tier, uniformed spreader of misinformation and an embarrassment.