Ethereum blockchain releases the same amount of ether each successive year unlike the bitcoin blockchain which halves the quantity of bitcoins released into the network on a four year succession basis.Bitcoin value shall only increase in the long run, the same cannot be said for ethereum.
Bitcoin reminds me of the dot com revolution that took most of our time and attention towards the screens of the computers. While we were considering such innovations the miracle of the past that could not happen again, Bitcoin introduced the blockchain and the first cryptocurrency, and Ethereum made it more functional for those who wanted to add additional programming scripts, algorithms and features to the crypto transactions. So imagine, that Bitcoin is our new dot com, and Ethereum the platform that allows to build what stands before the dot.
Why is Ethereum not based on Bitcoin?
However, the most exciting prospect is not just some supranormalreturn on capital. I think a much more compelling thing to see emerge from this blossoming crypto-bubble is a handful of actual real world smart contracts or decentralized protocols, which really takes hold and flourishes. This is where the real soil for innovation in the blockchain ecosystem will come from and where most of the value will be wrought.
Whats next to Bitcoin and Ethereum?
I think ETH is here to stay. BTC will be around as well but it will likely face a schism in the coming year or so due to mounting scalability issues and ever growing philosophical divides in its community (Bitcoin Core vs Bitcoin Unlimited).
Both Ether and Bitcoin are cryptocurrencies and are seeing a lot of interest and speculation in recent times which is leading to huge swings in their prices. For instance, Bitcoin was trading at around $8000 in November 2017 and it jumped to around $19000 in December 2017 and again plummeted to around $8000. This has led to many speculators conjecture that some cryptocurrencies are over valued. Currently, Bitcoin is valued at around $8000 and Ether at around $800. In the long term, market corrections will take place and the final valuations would depend on the utility a cryptocurrency produces. The difference in prices of Bitcoin and Ether is due to the late start of Ether, and over valuation of Bitcoin.
Is Ethereum better than Bitcoin? Why or why not? Is it like comparing apples to oranges?
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Is Bitcoin or Ethereum more volatile?
Gold is worth more than aluminum because of its demand and scarcity, its transportability and immense store of value makes it an Ideal form of payment, this doesnt mean aluminum is bad, Aluminum is used in industrial applications and in every day life such as Airplanes and Soda Cans.
Ethereum is a blockchain which has tremendous capabilities in comparison to the Bitcoin Blockchain. One of the major factors that come into picture forvaluation of any asset is demand for the productand in this case its the currency.
I continue to see the BTC:ETH price ratio quickly converging towards a 1:10 . As a result, as in previous postings, it may not be outside of the realm of possibility to see ETH reach parity with BTCs market cap and surpass it. I only see the price tending much higher barring any significant vulnerabilities in the code releases or a major DApp catastrophe similar in size and scope to the DAO ETH may reach $100B in market cap before 2018 as more money pours in for enterprise integration, development, and sheer speculation (enter crypto hedge funds). As a result, this would imply a price of a single ETH within the $1,000 range.
ETH is a platform on which Dapps (Decentralized Applications) Can run off it. Ether also has smart contract applications.
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2. Silk road – Bitcoin grew as Silk Road grew – and suddenly a whole generation of libertarians and crypto-anarchists could transact on SR, causing demand for the coin.
Ethereum utilizes Turing Complete where as Bitcoin core is built on C++.
Ethereum aims to make a decentralized platform where people can build applications and write contracts without having fork a a separateaims to build a community and concentrates on aspects apart from just financial transfer of value.
Content Director for Cryptosomniac (Cryptocurrencies Educator and Analyst)
Youd need to determine what cause the run up in prices of Bitcoin:
Why is Ethereum not based on Bitcoin?
No! They Completely Different use cases
Any speculative investment in the space has the potential to explode in value, just like it can just as quickly implode in value.
What has the potential to be the next bitcoin?
Now lets discuss on how freely these currencies can be used. Cryptocurrencies, due to their anonymous nature, can create nightmares for Central banks and intelligence agencies throughout the world. Central banks control the monetary policy of a country by changing the repo rates as it is called in India. But with cryptocurrencies, central banks loose this power and it cant do much to implement its monetary policy. If more transactions are carried through cryptocurrencies, the effect of repo rate changes wont trickle down and the ability of the central banks to control inflation and growth through qualitative and quantitative measures would reduce. Even fiscal policy of the governments would be impacted if more people start putting their savings in cryptocurrencies.
Why ethereum is despised by bitcoiners?
Why ethereum is despised by bitcoiners?
How is Bitcoin dependant on Ethereum?
Currently, the price of Ethereum has been considered to be undervalued, because all of the crypto market trends, developments, noise and discussions are being circulated around the Bitcoin boom. However, the growing demand for Bitcoin has already made it extremely hard and expensive to mine, store or transfer. Therefore, the attention of the miners is slowly shifting to the altcoins, and Ethereum occupies the first place in the list. Its price has already experienced a sufficient increase by growing from around $10 to $400 within the July-December period of 2017.
Hashing algorithms differ with Ethereum employing Ethash and Bitcoin employing SHA256 resulting is shorter time(14 seconds) required for the ethereum to confirm transactions compared to bitcoin(10 minutes).Ethereum reward system is designed in a way to promote individual miners to collectively mine as individual entities rewarding stale work as well where as the Bitcoin Network rewards proof of work alone and promotes pool mining to encompass computational speed from the whole pool putational power required to mine Bitcoin is a lot more that the Computational power required to mine ether.
What has the potential to be the next bitcoin?
Est-ce que lethereum est le futur bitcoin?
, Analysing CryptoCurrencies Economic Strategy since 2014
Factor:Computational Power involved:
Bitcoin or Ethereum? Which one will become more successful?
Ethereum rappresenta il nuovo Bitcoin?
Personally, I believe that Bitcoin is more valuable to hold on to for the long run and Ethereum can be used for building applications and minute transactions and I do not count on Ethereum spiking up in Value as the bitcoin did although I might be wrong as people start accepting ethereum due to to its low volatility and its minute computational power requirement for mining.Ethereum has a far better chance of being accepted as a currency norm than bitcoin and that might give it the edge over bitcoin although I wouldnt put all my eggs in the same basket.
4. Legit demand – There was also legit use and demand of Bitcoin at vendors who accepted it, which can also be factored.
There are some possibilities where Ethereum as a cryptocurrency may explode in Value like how Bitcoin did and there reasons alike that prevent it from doing so.
Ethereum as a generalized platform to write and execute contracts apart from just transferring financial value sets it apart from the Bitcoin Blockchain in terms of motive.
How do I find the next big thing like Bitcoin?
Why is Ethereum different to Bitcoin?
Having said that cryptocurrency is just the tip of the iceberg. What is interesting is the other applications that the underlying technology i.e. block chain offers.
, Content Director at Cryptosomniacs [Where The Rich Never Sleep] (2017-present)
That said, how do we differentiate between the tulips, AOLs, s, and future Amazons and Googles of the space? Thats an entirely different story to cover later
Is Ethereum better than Bitcoin? Why or why not? Is it like comparing apples to oranges?
What is coming after Bitcoin, Blockchain and Ethereum?
Whats next to Bitcoin and Ethereum?
Can ethereum explode in value in much the same way as bitcoin?
This May help you on your cryptocurrency education En-devours!
P.S. Mineunit – the machine learning technology for Ethereum (GPU in general) mining and trading gives the opportunity of jumping into the sphere and starting to earn right away!
Related QuestionsMore Answers Below
Bitcoin or Ethereum? Which one will become more successful?
If I wanted to buy a house or land before modern currency existed, gold was used as a fungible store of value because of its rarity and demand and trans-portability.
It seems like a perfect storm of events mixed to send Bitcoin on its wild ride in price, but also one that was influenced as much by timing than by the actual merits of the currency. Ether could likewise benefit from some or all of these, but it is impossible to predict when thatd happen – although I bet someone could run a prediction market on the Ethereum platform and track the sentiment of this occurring.The feedback you provide will help us show you more relevant content in the future.
Wird Ethereum die nächste Bitcoin sein?
Ethereum is not better than Bitcoin, Bitcoin is not better than Ethereum
Factor:Currency Released into the system each cycle:
, Individual entrepreneur highly interested in virtual assets
Apakah Ethereum adalah Bitcoin berikutnya?
Bitcoin aims to provide an decentralized anonymous way of transacting financial value alone and the main priority rests with recording the transactions on the blockchain.
Thus, the long term valuations of cryptocurrencies also depend on how freely they are usable which depends on the policies of different governments regarding them. But complete restriction on cryptocurrencies is not possible due to their anonymous nature. There will be cryptocurrencies as long as there is demand. So, governments can restrict cryptocurrencies by reducing this demand. And this can be done by making the fiscal and monetary policy more predictable and objective, and restricting currency devaluations.
In short, Ethereum is the next Ethereum. Ethereum tries to solves a larger set of problems than Bitcoin and hence has greater utility. Ethereum is a platform and ether is the currency based on this platform. Since Ethereum is a platform, new applications and currencies can be built on top of it. New currencies can be built on Bitcoin as well, but ethereum was built with the intent of being an almost like an operating system of sorts.
1. Media coverage – Bitcoin and its rise in price was constantly featured in the media. Stories of people making huge returns on pennies in investments caused hype to follow, and others to want to buy so as not to miss the train.
Conclusion:Anybody can mine ethereum and shall always generate income where as its not be the same case with bitcoin, you may reap huge rewards or none at vest in mining equipment based on power and availability.
Why is Bitcoin worth more than Ethereum?
Bitcoin Vs Ethereum: Driven by Different Purposes
While Ethereum offers many improvements over Bitcoin, what find most interesting and what should lead to its greater adoption in future issmart contracts. Smart contract eliminates intermediaries and leads to more decentralisation. It also plugs the trust deficit that can result from intermediaries. A smart contract is a self-executing contract that is designed to enforce the terms of an agreement created between two parties. Terms of the contract are recorded in a computer language and are carried out automatically, thus almost eliminating any forgery or scam. For instance, payment would be automatically made once all the terms of the contract are fulfilled. Thus smart contracts reduce cost of transactions by eliminating intermediary fees, reduce chances of scams and leads to more decentralisation. These can be used in all spheres, from buying property to online shopping, from acquisitions to employment etc.
Moreover, cryptocurrency transactions are anonymous in nature and cant be tracked by intelligence agencies. These can be used for illegal activities which can have disastrous security implications. So, how freely these currencies can be used in future is still in grey area as countries are skeptical about them. While some countries like South Korea have legalised them, others are still trying to comprehend its implications. Cryptocurrencies are still in the grey area in India. Arun Jaitley, in his 2018 Budget speech said that cryptocurrencies arent legal tenders. But nobody stops you from holding cryptocurrencies.
5. Worries about the economy/ Gold-bugs – People were fed up with the financial crisis and the perceived manipulation of currency by central banks. Bitcoin, like gold, became their safe haven and a way for them to store their wealth in what they thought was a safer instrument.
3. Manipulation – Bots like Willy were running, which drove up the price by driving up the demand. While the only proof exists in Mt. Gox leaked data, the demand rose during the time that the bot was allegedly running.
Conclusion: The amount of ether within the network is not finite.Value is defined by the demand at that very moment.Bitcoin investing is profitable in the long run.
BTC is a decentralized currency, it is avdeflationary Store of Value with a max cap of 21 million coins
I think Ethereum has much greater potential than Bitcoin in terms of sheer utility and market capitalization. With this disproportionate reward comes extraordinary risk.
On May 16th, 2017 with the price of Ethereum hovering around $87 $90,I made a conservative prediction that its nominal price could easily double and surpass $150 to be in the $150200 range before the end of 2017. I am quite concerned yet amused to see my call play out much sooner, which indicates to me that the cryptocurrency market might be 10X bigger than the Dot-com bubble that preceded, but with a much more compressed timeline. Forget about irrational exuberance: This could very well make the Dutch Tulip mania of 1636 or all other manias before it look likerational pallidness. Ill go ahead and coin that phrase.
