So....Bitcoin the new alt Eth the main? - page 2.

dinofelis

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Quote from: chennan on May 30, 2017, 08:02:20 PM

The thing that is really hilarious to me in this thread is the blatant disregard that Ethereum is not supposed to be used as a straight up currency like Bitcoin is supposed to be used for.

Bitcoin was meant as a currency, and is also mainly used as a speculation vehicle, not as a currency to "buy stuff with" (yes, a few percent of the daily volume is probably dedicated to that). What does bitcoin have to offer ? A token that can be transmitted, and that people seem to appreciate for value. The ethereum token is similar. You can do other stuff on the ethereum block chain too, but what bitcoin has to offer, the ethereum token can do it too.

Note that neither is a good currency. Both are betting tokens. Both can be used also to transact value, and so have some currency-like usage. Both majority usage is not that of a currency. Both majority usage is pure speculation.

Iranus

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Leading Crypto Sports Betting & Casino Platform

Quote from: jubalix on May 31, 2017, 05:47:14 AM

Quote from: Pursuer on May 30, 2017, 09:45:22 PM

actually I am kind of glad this happened. because finally, either I will be proven wrong and I'll gladly accept it, or we see that I am right and maybe people start looking at other things than just price and marketcap when it comes to comparing an altcoin to bitcoin.

let ethereum become bigger, more used.
let the number of transaction on its network increase to near bitcoin's level.
let ethereum network be "stress tested" for 3 years, something that we have been experiencing in bitcoin with the same name but it is really spam attack.
let the transaction fees grow to $0.75 (currently there) and then $1 and then $2 and so on.
let the size of their blockchain get extremely big and centralizes the nodes
let the mining of it become big and let China get in on it and start their farms with new more efficient equipments.
let another DAO scam and another roll back hard fork and a chain split happen.

and lots more, and then lets see how they will do in real world not just on exchanges and on paper with some numbers showing bigger marketcap because they simply have 6 times more the supply of bitcoin but not even half its circulating supply or distribution.

the point is active DEV is taking place on ETH

The difference is that if the ETH devs were inactive there would be no way out.

Bitcoin has clear alternatives like Rootstock and BU, and whether or not people like them is another matter - the point is that Bitcoin has the opportunity to change, while ETH's development is so heavily centralised that its path seems fully dictated by Buterin.

More tokens could be created in future versions for all we know, considering that they hard fork at a rate of fifty hard forks per second.

ETH is like the evil genius of the crypto world, getting bigger and more evil as it goes on.

jubalix

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Quote from: Pursuer on May 30, 2017, 09:45:22 PM

actually I am kind of glad this happened. because finally, either I will be proven wrong and I'll gladly accept it, or we see that I am right and maybe people start looking at other things than just price and marketcap when it comes to comparing an altcoin to bitcoin.

let ethereum become bigger, more used.
let the number of transaction on its network increase to near bitcoin's level.
let ethereum network be "stress tested" for 3 years, something that we have been experiencing in bitcoin with the same name but it is really spam attack.
let the transaction fees grow to $0.75 (currently there) and then $1 and then $2 and so on.
let the size of their blockchain get extremely big and centralizes the nodes
let the mining of it become big and let China get in on it and start their farms with new more efficient equipments.
let another DAO scam and another roll back hard fork and a chain split happen.

and lots more, and then lets see how they will do in real world not just on exchanges and on paper with some numbers showing bigger marketcap because they simply have 6 times more the supply of bitcoin but not even half its circulating supply or distribution.

there is going to be solutions to TPS in one form or another, the point is active DEV is taking place on ETH

alexsamudra

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If the market starts in two pillars of the name once the momentum begins then it will not be too late.
Rejecting rationality is not a good idea

goradyne

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Another thing is that Ethereum has had almost no major exposure to the ordinary, middle class folks. Sure people know about bitcoin, but Ethereum could use the PR work Bitcoin has done and do a leapfrog. I would imagine ETH going to 500+ with the coverage BTC is getting. FOMO is another thing too

ebliever

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As someone noted above, Ether wasn't meant to be used as currency, and is quite different from Bitcoin. I'm surprised at the lack of movement with Litecoin, because Litecoin is the real "drop-in replacement" to Bitcoin. It has a similar structure, shared history and community, and with Segwit and the Lightning Network it is becoming what Bitcoin ought to have been.

A startup named Yours announced a week or so ago that after researching their options they were switching to using Litecoin in place of Bitcoin due to the fee situation. I expect that as more companies face the same situation we'll see more making that same decision. None of the other top cryptos (Ethereum, Ripple, NEM) fit nearly as well as drop-in replacements for bitcoin.

Pearls Before Swine

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Quote from: jubalix on May 30, 2017, 08:21:17 PM

Quote from: chennan on May 30, 2017, 08:02:20 PM

The thing that is really hilarious to me in this thread is the blatant disregard that Ethereum is not supposed to be used as a straight up currency like Bitcoin is supposed to be used for.

Yes I understand that it has monetary value attached to the token, but it isn't supposed to be used as a digital cash. It's an app token, so to say that it will overtake Bitcoin as the "main chain" is kind of ridiculous to me. Eth is their own entity.

wait what? you did not catch on that was just cover to stop a flame war between ETH and BTC camp. Of course it falls out of eth that it can be used as digital cash if you want.

ETH focused of "not being [just] digital cash" but sold itself of being programmable cash and dev friendly.

It could be used for that, but do you think it's every really going to be used as cash? I think not. Bitcoin itself is used as a thing for speculation and really not often to buy things. Nor are coins that could actually be useful for such, e.g., litecoin. So while ETH might have a higher market cap, what does that mean exactly? Nothing in my opinion. A rising tide lifts all ships, and that's what's happening here. We got a bull market in progress, and everything under the sun is being inflated. Just wait until the needle comes along, whatever form that will take. The popping is going to be huge.

illaslli

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It could be the case eventually but right now every alt on every exchange is denominated in bitcoin, even ETH has more volume going through bitcoin than it does in direct fiat. Until this changes bitcoin will remain the main one.

DoublerHunter

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Quote from: jubalix on May 30, 2017, 07:06:57 PM

It looks like actors in the BTC sphere have thrown their crown away.....

It seems ETH will become the largest market cap now....its pretty much a forgone conclusion, and despite the paucity of that measure, its the one that sticks in peoples minds and become as self fulfilling prophecy.

Whether ETH will retain that position is a different question.

Well done BU, well done Core.

Ethereum now is like taking the throne of bitcoin because of the good news of it and also the hype of being accepted in chinese exchanger but i think the bubble price now will burst a few weeks from now because there is already a lot of gainers like me and i think same with the others holders, they are just waiting for the perfect price for them and they will eventually sell after the price reach that.

Pursuer

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Where is my ring of blades...

actually I am kind of glad this happened. because finally, either I will be proven wrong and I'll gladly accept it, or we see that I am right and maybe people start looking at other things than just price and marketcap when it comes to comparing an altcoin to bitcoin.

let ethereum become bigger, more used.
let the number of transaction on its network increase to near bitcoin's level.
let ethereum network be "stress tested" for 3 years, something that we have been experiencing in bitcoin with the same name but it is really spam attack.
let the transaction fees grow to $0.75 (currently there) and then $1 and then $2 and so on.
let the size of their blockchain get extremely big and centralizes the nodes
let the mining of it become big and let China get in on it and start their farms with new more efficient equipments.
let another DAO scam and another roll back hard fork and a chain split happen.

and lots more, and then lets see how they will do in real world not just on exchanges and on paper with some numbers showing bigger marketcap because they simply have 6 times more the supply of bitcoin but not even half its circulating supply or distribution.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Bitcoin is sucking right now.

But there's 2 problems with ETH. First of all, its inflationary. There's no cap. Yes, the inflation will decrease like Bitcoin, but in a very different manner, and the annual inflation will be 200%-300% more than Bitcoin's for some years. That could change if they ever go to proof of stake, but we don't know if that we'll happen -- its been promised for almost 2 years. Second, its development is even more centralized than Bitcoin. I could be wrong, but my impression is that Ethereum does whatever Vitalik feels like doing.

Paashaas

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Rootstock opened there testnet yesturday, ETH will be replaced by RSK in time. All alt-coins will eventually be replaced by sidechains.

SingAlong

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Quote from: freedomno1 on May 30, 2017, 08:53:35 PM

The market may move towards a dual-adoption with two revolving pillars but once the momentum starts it doesn't slow down.
That said outside of crypto people still are not aware of altcoins so Bitcoin will remain the main currency at least for a bit longer, we might have nice debates about coin supply and the real market cap later though.

So Eth has shown its fangs huh? And with this clash then the users just have to split their funds like a partial amount on Bitcoin, Ethereum, and other coins. Still the crown that Bitcoin has is not easily taken but it can be if the developers and miners would not straighten themselves up. Let's hope that users have a lot of good choices nowadays and they can't just confine them in just one box.

alucard23

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Defy rationality is never a good idea...

freedomno1

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Learning the troll avoidance button :)

The market may move towards a dual-adoption with two revolving pillars but once the momentum starts it doesn't slow down.
That said outside of crypto people still are not aware of altcoins so Bitcoin will remain the main currency at least for a bit longer, we might have nice debates about coin supply and the real market cap later though.

jubalix

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Quote from: klf on May 30, 2017, 08:25:21 PM

Quote from: btbrae on May 30, 2017, 08:05:40 PM

Don't try to guess the markets. Instead, look at what the markets are telling you. BTC dominance is nearing 40%. ETH is making new highs and still going strong. Alts are doing great and making lots of progress. The market is telling you not to put all your eggs in the BTC basket.

That is good advice. We shouldn't keep all our funds in any single product because it is very high risk. Also, we shouldn't invest only in cryptocurrencies but also consider investing in other asset classes as well. The more you diversify chances of losing money will reduce in the longer run.

I agree, its seems however that some BTC rs do not see it this way.

klf

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Quote from: btbrae on May 30, 2017, 08:05:40 PM

Don't try to guess the markets. Instead, look at what the markets are telling you. BTC dominance is nearing 40%. ETH is making new highs and still going strong. Alts are doing great and making lots of progress. The market is telling you not to put all your eggs in the BTC basket.

That is good advice. We shouldn't keep all our funds in any single product because it is very high risk. Also, we shouldn't invest only in cryptocurrencies but also consider investing in other asset classes as well. The more you diversify chances of losing money will reduce in the longer run.

jubalix

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Quote from: chennan on May 30, 2017, 08:02:20 PM

The thing that is really hilarious to me in this thread is the blatant disregard that Ethereum is not supposed to be used as a straight up currency like Bitcoin is supposed to be used for.

Yes I understand that it has monetary value attached to the token, but it isn't supposed to be used as a digital cash. It's an app token, so to say that it will overtake Bitcoin as the "main chain" is kind of ridiculous to me. Eth is their own entity.

wait what? you did not catch on that was just cover to stop a flame war between ETH and BTC camp. Of course it falls out of eth that it can be used as digital cash if you want.

ETH focused of "not being [just] digital cash" but sold itself of being programmable cash and dev friendly.

btbrae

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Don't try to guess the markets. Instead, look at what the markets are telling you. BTC dominance is nearing 40%. ETH is making new highs and still going strong. Alts are doing great and making lots of progress. The market is telling you not to put all your eggs in the BTC basket.

chennan

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The thing that is really hilarious to me in this thread is the blatant disregard that Ethereum is not supposed to be used as a straight up currency like Bitcoin is supposed to be used for.

Yes I understand that it has monetary value attached to the token, but it isn't supposed to be used as a digital cash. It's an app token, so to say that it will overtake Bitcoin as the "main chain" is kind of ridiculous to me. Eth is their own entity.

Topic: So....Bitcoin the new alt Eth the main? - page 2. (Read 2157 times)