Topic: ETH really becoming a new BTC - page 3. (Read 5714 times)

Good point & really well said.
There really needs to be a lot more clarity to what ETH is.
And the endless comparisons to Bitcoin keep coming.
If this was my forum i would sticky what you said at the top of the forum section here LOL

Agreed! The majority of the world still don't understand Bitcoin. Ethereum is even more sophisticated, but that doesn't mean it will surpass Bitcoin. Sometimes simplicity is better. Like the money. You have $100 and you know how much they worth. You go to the bank, make a deposit, receive a receipt for it and you go home. Or buy something... whatever. It's not your problem (or job) to understand how those $100 will go from your account to another. Try to explain that to "ordinary" people, but use Ethereum instead. There are bunch of people who are yelling: "Ethereum this, Ethereum that" (applies to all of the cryptocurrencies they are interested in), but at the end, technology can become great if majority of people accept it.

I refuse to listen to Mike Hearn's emotional driven rants. Bitcoin has died hundreds of times while rimbit has no life to begin with.

BTC will fail because it is controlled by a few China based miners.  It is not healthy, not sustainable and will lead to BTCs downfall.

What other point is there if you are only investing ?


Blocksize limits have nothing to do with BItcoin's ability to "function as a currency".

It takes between a day and 3 days for the fiat clearing system to process a dollar transaction. Yet you only wait 3 seconds in the supermarket queue for your payment to be taken. Similarly, blockchain performance does not determine an asset's suitability as a 'currency'. Its performance as a store of value does.

What is your idea of failing?  Not living up to the speculators concept of it taking over the world so they could increase it's potential value by raising it's possible market cap?  If Bitcoin takes over a large portion of the gold market, is that considered failure?

I do not think that becoming the new BTC would be best, bitcoin is set to fail. Ethereum is still subject to mining, which sets eutherum at a major disadvantage. I have invested in a coin of my choice "Rimbit" its gotten rid of mining and instead has added interest. If anyone is intrested go to www.rimbit.com

I don't think thats true with Premine cause it will be the same "share for the developers" type of thing but it would be more risky than ICO for sure.
However,Bitcoin has its worth and was very creative at first but that doesn't means something new with much better features cannot surpass it and with the sense less drama we are seeing since months people might get more inclined towards a switch but it is not that easy how people think anyways.

Yep, I agree. I believe Bitcoin will be a better version of gold in an age where governments go from paper currency to digital. The only coin/token I truly believe in other than btc is xrp but xrp will be used behind the scenes by market makers to connect permissioned networks filled with fiat IOUs and most people won't even know about it. Ethereum's idea of smart contracts is really cool but I am hesitant to make judgement about ether - I feel it is too early.

If you are looking at BTC purely as a store of value, an asset, then you have a point.

But if you want a currency - to be able to buy and sell things with it, to use it to move money around the world - it's increasingly looking like BTC will fail at this because of the blocksize limits.

I don't believe Bitcoin will be the one and only and I think Ether has a lot of potential but they have different utilities.

Despite what people are saying Bitcoin has a HUGE advantage over other coins.  The initial distribution.
Since the rise of Bitcoin that made many early investors a lot of money there has been a wave of new investors looking to get rich quick with other coins. Speculation is pushing the prices of these other coins past their actually value based on real world use.

I often compare it to the sports card bubble of the late 80's and 90's.  
Before the 80's kids collected sports cards but did not know their actual future value.  They would put them in the spokes of their bikes, glue them to a book, or store them in their wallet. Eventually parents threw them away, they were destroyed, or they were sold with the house they grew up in. When the 80's rolled around and the demand grew for these sports cards and people began cashing in on their childhood investments. The sports card craze had begun and all of a sudden everyone was collecting sports cards. They were kept fresh in their display cases, nothing was destroyed in hopes that someday they could also reap the rewards of the past. While this occurred companies like Topps, Upperdeck, Donruss, etc. over produced to keep up with demand. Now those cards are worth nothing because they were over produced and most still exist. Bitcoin is very similar. They were lost, destroyed, given away, etc. and when the value of Bitcoin blew up everyone wanted to jump on the train. Now, just like the sports card bubble, altcoins are being overproduced and overbought. Will we have the same conclusion?

It is still mind boggling that for Ether with the current price
https://www.coingecko.com/en/price_charts/ethereum/usd

There isnot that many wallet services, vibrant exchanges with balanced volumes in comparison to bitcoin

No. That isn't "that".

Think of it this way. A 100 dollar bill is printed on paper. The bill is the contract and the paper is the carrier of that contract.

By buying Ethereum tokens, you're investing in the paper, not the contract. You have no rights to the contract just because you own some of the tokens that it's "printed on'.

Bitcoin, on the other hand, is a bearer token. What that means is that the token IS the contract.

So, even though Ethereum may be "the future" in terms of technological and commercial decentralisation, Ether tokens are not the future in terms of store of value.

You're holding hot air. (Hot air that's in limitless supply by the way, so the actual stuff might be a better buy    )

quit bitchin and buy eth, the coin is the future and thats that

What you said doesn't even make any fucking sense at all.

Mined coin is mined.  It will become centralized at some point and then it will be game over for the people.  Until then enjoy the ride.  Unmined is the real future and that is why I split between Eth and rimbit.

The Ethereum ecosystem may well be very big and be worth billions.

Ethers as a token, however, are a completely different prospect. They perform a very different function to bitcoin because bitcoin is a so called 'bearer token" whereas in Ethereum the tokens are really just supporting the network security and liquidity. Sure they will be worth something but not necessarily as a store of value.

A good example if the difference is this: To transfer a $million using a smart contract on the Ethereum network will cost you only as much Ether as is needed to execute the contract.

On the other hand, to transfer $million worth of value on the bitcoin network - you actually need the million dollars worth of bitcoin

Thats why bitcoin tokens are a store of value and ethereum tokens are not.

If you think Ethereum's going to be big, you're better investing in one of the businesses thats going to run on it rather than the tokens themselves (which are in effectively limitless supply anyway).

Some of you don't have a clue on what you are talking about. Ethereum was crowdfunded with about $18,5 million! What was the situation with Bitcoin (despite the premine, which can be evaluated nowdays, and as far as I know, it is still intact)? You can't compare Ethereum with Bitcoin, because of 1 simple reason (not 10): One is revolution, and the other is a paid project. Period.

used by banks?

I didn't they are used by banks, maybe you guys should at least list the banks that used them so we may have the reason to probably move to ETH or move away instead.

Google Iceland Bitcoin Mining

And yeah Stoat is as usual full of shit i can't be bothered with him *this time LOL

All i will say is adding POS to a coin 2 or 3 years after the IPO scam launch does not make it a "legit* POS coin.