Can Ether become an Independent currency like Bitcoin? - page 2.

Ozero

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Quote from: DashingAgent on August 29, 2019, 08:57:12 PM

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

No, I do not agree with your opinion. In April 2017, Japan simply legalized Bitcoin and other cryptocurrencies. In this regard, we can say that he received official status. However, this did not make him independent. If world states fully legalize ethereum or another cryptocurrency, this will not make them independent of the price dominance of bitcoin. There is talk that ethereum may free itself from the price dominance of bitcoin, but the reasons for this should be completely different. The technological and functional significance of ethereum should increase, and on this basis it should increase in popularity and demand.

jumiapaul

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In my opinion, ethereum by its nature is not expected to be a currency. Ethereum was created to serve as gas fee for transferring tokens and creating smart contracts. This explains why there's no definite number of ethereum to be created, unlike bitcoin who has a maximum of 21 million coins.

imstillthebest

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etherium is already an independent currency just like bitcoin because cryptos like them dont mainly depend on the fiat system or banking system . we can mine and obtain a crypto without going the need for fiat or banks .

there is no need for acceptance on those countries that you mention above because even if they dont adopt crypto there are still many other countries that are now already adopting crypto .

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Quote from: DashingAgent on August 29, 2019, 08:57:12 PM

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

As official currency? Maybe as additional currency can, cause these countries will never replace their own currency for a digital currency which is very unstable and can't be controlled. Bitcoin isnt also sure that a Japanese Satoshi Nakamoto created it. Maybe just a screen name who knows, but the point is, it is hard to implement even ether as a currency for such country.

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Quote from: Metall303 on September 01, 2019, 10:19:59 AM

it sounds like the mystical dream of an ethereum holder. this will never happen. Ethereum will not be accepted as a payment tool in any territory. Ethereum was not created for this.

Ethereum was created as a business platform and therefore there is a smart contract. In my opinion ethereum is different from bitcoin which functions as a digital currency or digital assets. Ethereum with its smart contract can be a business platform that can be used to make business efficient by making tokens.

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Quote from: DashingAgent on August 29, 2019, 08:57:12 PM

Can Ether become an Independent currency like bitcoin?

Can you make it more specific? Independent on what aspect? If it is related to the ETH price, it is hard to separate from the influence of Bitcoin. While if it is about the popularity of Ethereum platform, I think it was already independent for a long time since it became the strongest altcoins ever.

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Quote from: cudora on September 01, 2019, 02:18:50 PM

I wish it could, but it seems like ETH is never going to climb on top of the market. The big problem of ETH is the lack of updates and partnerships, while big coins like NEO, EOS are doing something to increase their prices, ETH is just silent.

Your reply definitely shows that you either lack the update about coins that offer dapp and smart contract service because the NEO and EOS you mentioned have nothing to offer the crypto community and what they did is create the roadmap led by ETH before ETH create theirs.

cudora

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I wish it could, but it seems like ETH is never going to climb on top of the market. The big problem of ETH is the lack of updates and partnerships, while big coins like NEO, EOS are doing something to increase their prices, ETH is just silent.

SquallLeonhart

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Bitcoin has the concept and the idea of the real decentralized currency and that is why they remain the most used independent currency till now, and Ethereum is simply going to always be an alternative, no matter how hard Ethereum may try, there is absolutely nothing they can do to become independent like bitcoin.

If you look at japan also, despite their reliability on bitcoin, they will still have Ethereum as second alternative incase bitcoin does not meet up at some certain pint, because bitcoin has its own issues too, especially the aspect of scalability, which I know that we have lightning network already to help, but that is still on a centralized bases which really does not fully follow the line of bitcoin fir its vision to provide a full decentralized system.

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Quote from: DashingAgent on August 29, 2019, 08:57:12 PM

Can Ether become an Independent currency like bitcoin?

At first place, Ethereum and altcoins in general have created because a certain team or owner did it so it is still dependent. Now is there a chance that it will become an independent coin in the future? Possibly yes if the coin is used widely but if I'm the creator why would I not continue the project that I started already.

Owners of different altcoins doesn't want to leave their project so basically speaking, Ether and all altcoins can't become independent.

Metall303

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it sounds like the mystical dream of an ethereum holder. this will never happen. Ethereum will not be accepted as a payment tool in any territory. Ethereum was not created for this.

SistaFista

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Quote from: DashingAgent on August 29, 2019, 08:57:12 PM

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

From my opinion, Ethereum is an independent currency because the feature of ethereum is different than bitcoin.
Ethereum has smart contract which is unique function that different from bitcoin.
We can make erc20 token in ethereum too, it is often used for funding project in ICO.

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Quote from: DashingAgent on August 29, 2019, 08:57:12 PM

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

No, while there is the ability to "rollback" transactions (hacking TheDAO). Although on the other hand, any government seeks total control and in this case, an "official"/national cryptocurrency can be created. But it is not exactly ETH; something on the ETH blockchain possible.

jazmuzika217

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Yes you are right. It is depend on adoption like what you said what happened on bitcoin when Japan already adopt it. People and investor and based on the reputation and achievement of coin and once the coin will support by country it is a big advantage to build a good image to attract more investors and users . Like in other project crypto also need a good advertisement coming from a good reputation country.

vixcious

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Currently, there are many countries using ETH to transact and pay for some types of services.
They do not need to spread the word to the whole world, but there are some countries that are really very supportive of ETH because of the low and very safe transaction fees.

shiming

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There are still some differences between Ethereum and Bitcoin. Although they are all cryptocurrencies, Ethereum has smart contracts that can do certain functions. I think Ethereum can be summarized as a functional cryptocurrency.

mindrust

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Eth is centralized around Vitalik. No country or individual would trust a currency with a leader. Manipulate the leader, manipulate the currency. Nobody can have that.

ETH is good for what it is for, hosting digital assets but don't expect it to become more.

Alisha FR

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Quote from: Herbert2020 on September 01, 2019, 03:07:57 AM

additionally ETH is not even a "currency" which is another reason why the answer to your question is no. and all those who understand the mechanics of it know that already which is why this token has never been used for anything other than ICO scam and trading speculation for pump and dumps.

I think it's logical that if you say Ether is not a currency, I think, ether is a platform for altcoin, so it's very different from Bitcoin, bitcoin stands alone in the use of the blockchain network, whereas Ether as a platform will greatly affect other altcoins, the opposite can be said Ether can be influenced by other altcoins, so don't expect Ether to be adopted by a country, even if a country wants to adopt Ether as a currency it will cause inflation, because Ether is very massive on the crypto market.

Herbert2020

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there are certain things that when done to a cryptocurrency they can never be undone. it is like breaking a glass, you can never fix it. and in cryptocurrency world when an altcoin starts out as centralized it can never become decentralized again, that coin has failed in its start. the only possible outcome for these coins is death.

additionally ETH is not even a "currency" which is another reason why the answer to your question is no. and all those who understand the mechanics of it know that already which is why this token has never been used for anything other than ICO scam and trading speculation for pump and dumps.

Jating

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Quote from: DashingAgent on August 29, 2019, 08:57:12 PM

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

Technically, both are really different so there's a possibility that it can run independently. However, if you are looking at trading pairs, then obviously it is still have some relationships on bitcoin.

But I do believed that they have some sort of different investors are well. Bitcoin usually for maximalist and long term holder, while ethereum investors are leaning towards the kind of investment in IEO/ICO and then keep moving their funds across altcoin market.

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