Why is everyone so bullish on ETH for 2026? Is the only reason "it didn't hit my target, therefore I will be correct next year"?   

I’m always very bullish on ETH, so I’m genuinely curious — what’s your actual bearish case for it? I get the narrative that a lot of tokenization and institutional adoption might happen on private or permissioned chains like Canton, and that some stablecoins are launching on more controllable L1s. In that scenario, the bear case is basically: all the adoption Tom Lee expects on Ethereum happens somewhere else. But we’ll see — SOFI Bank just launched a stablecoin on Ethereum, so there’s clearly still real activity building on mainnet.

To me, ETH is massively undervalued relative to BTC. It has strong fundamentals, is actively upgraded, and hasn’t suffered multi-day outages like Solana. Yet 1 BTC trades for ~30 ETH when the supply ratio is closer to 6:1. ETH’s current inflation is around 0.8%, slightly lower than BTC’s ~0.83% even after the most recent halving, and there’s a good chance ETH’s effective inflation will remain lower into 2028 — especially if transaction volume and burn increase.

On the BTC side, I actually see a clearer bearish case. AI datacenters are now competing directly with Bitcoin for energy. Microsoft locking up the Three Mile Island nuclear plant for 25 years to power AI is a perfect example of where capital and electricity are being redirected. Bitcoin’s security comes from mining, but block rewards keep getting cut in half every four years. If price and fees don’t fully offset each halving, miner revenue and the security budget trend down. Combine that with miners pivoting to AI workloads, and you’re looking at a structurally shrinking security budget over time. At some point, that does become a non-trivial risk.

On top of that, most ASICs are manufactured in China, so Bitcoin’s hardware supply chain — and by extension its security — is heavily dependent on one geopolitical region. Ethereum, by contrast, uses a fraction of the power, doesn’t rely on specialized mining hardware, isn’t in a bidding war with AI for electricity, and is well-positioned for “proof-of-human” and AI-aligned use cases. The market is mostly ignoring these dynamics right now, which probably explains the current ETH/BTC pricing — but that doesn’t mean the risk/reward picture isn’t skewed in Ethereum’s favor.

Microsoft describes Three Mile Island plant as a once-in-a-lifetime opportunity
The plant’s reopening will support at least 650 permanent jobs and hundreds of other positions during the recommissioning process.

https://penncapital-star.com/economy/microsoft-describes-three-mile-island-plant-as-a-once-in-a-lifetime-opportunity/

AI surpasses 2024 Bitcoin mining in energy usage, uses more H20 than the bottles of water people drink globally, study claims — says AI demand could hit 23GW and up to 764 billion liters of water in 2025

A study by Alex de Vries-Gao from the VU Amsterdam Institute for Environmental Studies indicates that global AI power demand could hit 23GW, while also consuming 312.5 to 764.6 billion liters of water this year. According to The Verge, this is greater than the amount of power Bitcoin mining used in all of 2024, while consuming about the same volume that the entire world consumes in bottled water in a year.

https://www.tomshardware.com/tech-industry/artificial-intelligence/ai-surpasses-2024-bitcoin-mining-in-energy-usage-uses-more-h20-than-the-bottles-of-water-people-drink-globally-study-claims-says-ai-demand-could-hit-23gw-and-up-to-764-billion-liters-of-water-in-2025

Why some Bitcoin mining companies are ditching cryptocurrency for AI

There is a big shift happening in the world of cryptocurrency. Companies that mine for bitcoin are finding their resources are better spent on artificial intelligence. Our colleagues from The Indicator Stephen Bisaha and Darian Woods explain.

https://www.npr.org/2025/12/19/nx-s1-5648785/why-some-bitcoin-mining-companies-are-ditching-cryptocurrency-for-ai

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Nice nails on Breanna. 

😂🤣😂 Of course it does.

And what about your declining mental health & cognitive function  - oh I know everyone
Else is going down hill except you.   

I seem to remember you asking me about my cognitive function awhile back. I answered honestly. Do you remember what my answer was?

My mental health is just fine, maybe even better than when I was younger and more impulsive.

BTW, as part of my annual wellness visit, the medical assistant gave me three words to remember. As usual, I only remembered two of them. But I "aced" the clock test! Based on this, cognitively, I am about as sharp as I have been for the passed decade or so.