Topic: eth 2.0 is this the end of bitcoin? - page 2. (Read 449 times)

OP, laughable. How high should the price be, and how many more years should Bitcoin exist, before all the anti-Bitcoin trolls stop, and admit defeat?


OP, Coingeek ALSO says it won't scale. COINGEEK! Hahaha!

I see the Ethereum ecosystem outperforming Ethereum itself in the future because of DeFi. For example YFI is more valued then ETH. So the chance of Ethereum dethroning Bitcoin is negligible.

Another reason why Bitcoin cannot be dethroned is its popularity. People identify cryptocurrencies as Bitcoin and not Ethereum or any other altcoin.

Yes I agree but none can literally get close to its volume and marketcap. I can see ethereum as next contender or the one that could pulled off but with eth 2.0? Is really that they confident enough to surpass what bitcoin achieved in terms of popularity? Maybe it is being used for how many countries. But in terms of tech, eth2 could really change the system. Anyway I am more bullish on eth2 than bitcoin but still I hold some of those two major giants and will still holding in the future.

With PoS, with more ETH you have, the more power you have over the network. Think about it. If someone has a huge business and that people pay them a lot of ETH, they will automatically have significant power over the network because of that alone. It's one of the biggest flaws of PoS in my opinion.

One thing is for sure, bitcoin isn't going to end anytime soon, and I bet it won't ever reach that point. The thing is most people love bitcoin not for its security or any advanced updating mechanism, but for its value. And most of them don't really pay close attention to the technical side of it. There are people who do but they represent a small fraction of the trading population. The larger portion, which has the greatest impact on bitcoin's value, pay attention to other less technical factors. And even if another coin manages to outperform bitcoin in terms of updating mechanism, it's not like bitcoin won't be able to catch up. It will.

You can read up about some issues and things about ETH 2.0;

https://cryptobriefing.com/eth-2-0-wont-fix-ethereums-scalability-problems-analyst-argues/
https://coingeek.com/a-ethereum-2-0-still-not-scalable/

Lots of projects do try their best on dethroning Bitcoin in the spot but its already a decade they do still able to fail to do so.

as of many of you know that changing how cryptocurrency protocols works is not easy, like what happen with bitcoin in (2013?) when they made the 0.7 version which increase block size to make bitcoin faster , but all users most update in the same time, users who did not updated will have its transaction not counted in bitcoin core 0.7 blockchain. then whats happen!! most users did not updated which split-ed the blockchain, and the community forced to go back to the previews version of bitcoin core.

nowdays bitcoin still working with its first made block size, but ethereum developed an multi year updating mechanizem that will make it able to handle 100k transaction/sec with new powerful proof of stake mining algorithm, and supporting old versions in the same time.

as for me i was not think that pos is better then pow, but lastly i read i article from vitalic the co-founder of eth about why pos is better then pow, which his article was not really neutral , but it made me re-think about pos and starting researching and discovered that attacking pos with 51% attack is hard like attacking pow, and pos have super less energy consumption add to that they will make eth 2.0 can handle more transaction for next generation.

the only problem i faced that blockchain size will be super high and there is no way to cut it because if 51% attack happen we will need that data to recover eth and also bringing ability to cut blockchain into limited size will increase ability to exploit it because of some complicated things

now with this problem if eth converted to eth 2.0 in next 2 years, and bitcoin developers did not respond fast, you can say bay bay to bitcoin, lightening network will not help much , we need POS , which need changing how bitcoin DNA works what might cause problem like in bitcoin core 0.7v ethereum also will able to support old version of eth 1.0 in the sametime

i think if developers simply send and first update that make bitcoin core refuse to work if it did not updated and then send the new version that support pos , this will force old bitcoin core versions to update, so we can say at least 90% of users will updated there softwares, then we can say we did it

any thought?

sorry for my bad English, i just wanted to give my opinion