A month ago (October 2023) Sunny started a 100 CHF a day dollar cost averaging (DCA) plan into Bitcoin with Relai until Bitcoin reaches its All Time high again. I thought it was a fun (and +EV!) idea so I decided to join. To make things a little bit more interesting (and because I thought it was even higher EV) I did the same with ETH. Even if we didn't make the bet back then, it was clear that we are going to compare our DCA portfolios regularly in the future..
A Crypto Bro dick measuring contest!
One month later he posted the first screenshot of his accumulated Bitcoins stack. Of course I replied with my ETH stack (it was slightly longer,…ummm…higher, I mean higher!).
That triggered him to do the bet….
Sunny is convinced that BTC will outperform ETH over the next five years, I think the opposite. We came to an agreement to not make the portfolio value of this DCA plan the subject of the bet (since we will probably stop before 5 years are over). Instead we will just take the ETHBTC performance.
Yes, 1 BTC is a lot of money to spend on a Twitter debate, but remember: Just by holding more BTC than ETH, he already made the bet that BTC will outperform ETH, so basically he just increased his position for that bet. Same for me.
The winner of the bet gets 1 Bitcoin (BTC) from the loser.
We are betting on the ETHBTC pair. Currently you can buy 1 ETH for 0,056 BTC. If in five years on 2028-11-13 the price for 1 ETH is higher than 0,056 BTC, I win the bet. If it's lower he wins.
We are currently looking for an arbiter who will decide the bet and keep both wagers (2 BTC) secure until 2028.
*actually I need more than 50% since the payout of the bet is in BTC. If he wins, he wins more than me (since 1BTC is more valuable in regards to ETH then). If I win BTC will have depreciated vs ETH and is therefore not as valuable. But 1 BTC is 1 BTC right? RIGHT?