how dependent is ethereum from bitcoin

sonic212

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Quote from: mrayazgul on June 04, 2017, 01:07:15 PM

Quote from: niokobo on June 01, 2017, 01:41:28 PM

can ethereum exist without bitcoin

or is bitcoin needed because it provides the blockchain

The only other way that the parent coin could affect the side chain is a consensus alteration of its code. That could have a major affect if done right, but is not likely to happen.

Indeed I agree with you, the code in ethereum is very disturbed on the coin without it can not do the disbursement transaction in the blockchain wallet

mrayazgul

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Quote from: niokobo on June 01, 2017, 01:41:28 PM

can ethereum exist without bitcoin

or is bitcoin needed because it provides the blockchain

The only other way that the parent coin could affect the side chain is a consensus alteration of its code. That could have a major affect if done right, but is not likely to happen.

omonuyak

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Quote from: niokobo on June 01, 2017, 01:41:28 PM

can ethereum exist without bitcoin

or is bitcoin needed because it provides the blockchain

I think ethereum is completely depends on bitcoin for now but it might not continue for long. Bitcoin is currently provided a gold standard and also an insurance to others crypto currencies and as such we can call it a regulatory body to others altcoins.

DoublerHunter

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Quote from: niokobo on June 01, 2017, 01:41:28 PM

can ethereum exist without bitcoin

or is bitcoin needed because it provides the blockchain

Ethereum can exist without bitcoin because it is a dependent coin with its own blockchain technology so there is nothing to worry about ethereum if bitcoin will be gone because the only thing that i know that ethereum depends is about the price of bitcoin, if bitcoin price goes very high then there is possibility for ethereum to go down because of the most of investors in ethereum are bitcoin users.

posternat

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Those coins which have a direct side chain of another coin could not be destroyed per se, but if the parent coin were to stop being mined, then the side tokens could stagnate and not have their own chains move forward. However, if the parent coin was to cease being mined, the diff would drop a great deal and anyone with the capacity to host a few nodes could get it moving again.

Qunenin

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Quote from: serjent05 on June 01, 2017, 05:18:53 PM

I think Ethereum is independent from Bitcoin. Ethereum has its own blockchain. Aside from that it is intended to a different function, smart contract. When it comes to trading, Ethereum is still independent from Bitcoin since Ethereum price can increase while Bitcoin price decrease or vice versa or both of them increase and decrease at the same time.

There are very few, if any, coins that are built as a side chain of Bitcoin. There may be a few, I do not think so. There are definitely more that are built on NXT and ETH itself. There were a few coins that were created with the specific ability to host side chains with ease and these coins are known for the fact.

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I think Ethereum is independent from Bitcoin. Ethereum has its own blockchain. Aside from that it is intended to a different function, smart contract. When it comes to trading, Ethereum is still independent from Bitcoin since Ethereum price can increase while Bitcoin price decrease or vice versa or both of them increase and decrease at the same time.

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Quote from: Clavulanic on June 01, 2017, 03:02:45 PM

Are you sure it would have a permanent crash? Well I tell you it wouldn't be possible and as what you have mentioned here, it's been recognized by most cryptocurrencies; then we should not speculate for a crash. Maybe only minimal fluctuations of price, but we still I am sure all cryptos depended much at bitcoin price like ethereum market price because the demand also rises; but not unlike with bitcoin demand today.

let's hope we never have to find out what happens if bitcoin dies. it's not gonna be good for anything or anyone.

aoluain

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Yea very concise replies. Ethereum of course can exist on its own
it isnt even really a currency, its a different concept based on
smart contracts and nothing to do with bitcoin.

I would think the OP would have known this Huh

Pab

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Etherum is independent from btc,etherum is building his own decantrelised ecosysytem,etherum is progressive btc is stagnant,if scaling debate will not find happy end than we will have escape from btc to eth

Clavulanic

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Quote from: darkangel11 on June 01, 2017, 02:46:23 PM

Quote from: unamis76 on June 01, 2017, 02:19:16 PM

As said, they co-exist independently. However, I am willing to bet each and every altcoin would suffer if Bitcoin ceased to exist: it would suffer in price, in users, in trust, in merchants accepting them, etc.

That's right. Bitcoin is the most recognized cryptocurrency, so it's disappearance, permanent crash, call it as you like, would make investors leave the crypto market, at least at first. Later on they'd probably make peace with the death of bitcoin and start looking for new opportunities, like ether, but i'm sure the impact would be significant.

Are you sure it would have a permanent crash? Well I tell you it wouldn't be possible and as what you have mentioned here, it's been recognized by most cryptocurrencies; then we should not speculate for a crash. Maybe only minimal fluctuations of price, but we still I am sure all cryptos depended much at bitcoin price like ethereum market price because the demand also rises; but not unlike with bitcoin demand today.

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Quote from: unamis76 on June 01, 2017, 02:19:16 PM

As said, they co-exist independently. However, I am willing to bet each and every altcoin would suffer if Bitcoin ceased to exist: it would suffer in price, in users, in trust, in merchants accepting them, etc.

That's right. Bitcoin is the most recognized cryptocurrency, so it's disappearance, permanent crash, call it as you like, would make investors leave the crypto market, at least at first. Later on they'd probably make peace with the death of bitcoin and start looking for new opportunities, like ether, but i'm sure the impact would be significant.

unamis76

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As said, they co-exist independently. However, I am willing to bet each and every altcoin would suffer if Bitcoin ceased to exist: it would suffer in price, in users, in trust, in merchants accepting them, etc.

FlamingFingers

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Quote from: niokobo on June 01, 2017, 01:41:28 PM

can ethereum exist without bitcoin

or is bitcoin needed because it provides the blockchain

Yes, Ethereum can very well exist without bitcoin – they are two different things, so they are independent of each other except in some spots.
Ethereum is a centralized token of a platform that supposedly focuses on 'decentralized' smart contracts, and it has its own blockchain, obviously.
Bitcoin is a decentralized peer-to-peer coin with the 'original' blockchain focused on making dealings trust-less without the need of a middleman (eliminating the banking ecosystem).

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If Ethereum isn't on exchanges for fiat it will be next in line.

it's still dependent on bitcoin despite plenty of fiat options. the highest volumes by far are on poloniex. without bitcoin i dunno what its market would do.

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Quote from: niokobo on June 01, 2017, 01:41:28 PM

can ethereum exist without bitcoin

or is bitcoin needed because it provides the blockchain

completely different. there is zero overlap. bitcoin could disappear and ethereum would work fine.

is the price and its market dependent on bitcoin? that's a different matter.

bustedsynx

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Quote from: DayVid_GI_DEV on June 01, 2017, 02:02:50 PM

Is there a way to tell if an altcoin has it's own blockchain, or is that information that should be provided by the developers?

Yeah, just look at the address.

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Is there a way to tell if an altcoin has it's own blockchain, or is that information that should be provided by the developers?

niokobo

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can ethereum exist without bitcoin

or is bitcoin needed because it provides the blockchain

Topic: how dependent is ethereum from bitcoin (Read 995 times)