I like Ethereum and am happy I have some.
Other than a pure Bitcoin maximalist approach, it would seem hard to justify not having any in your blockfolio. It serves a real purpose and seems likely to last.
But the idea of Ethereum being "better" than Bitcoin is I think shortsighted.
As usual, it's worth listening to a talk from Andreas:
The main takeaway is that Bitcoin and Ethereum fundamentally do different things.
And that being designed to be better at one thing will come with the tradeoff of being worse at something else. And that therefore there is no "best", just like there's no "best" between a lion and a shark. They're just different.
Bitcoin's simplicity relative to Ethereum makes it actually better at what Bitcoin does, at being a secure decentralized p2p ledger. (Being simple is the best way to accomplish this.)
Ethereum is better at enabling smart contracts.
Flippening
If you think ETH will prove to be more valuable than BTC, then you have to think the arena that ETH is good at is more valuable to the world than the arena BTC is good at.
We're still in the infancy (or maybe the toddler phases) of price discovery, so nothing at all should be very surprising, and I'm unwilling to say that it's impossible ETH price would ever pass BTC price. It's already come close, so if it jockeyed ahead for a few weeks or something, that wouldn't be too different than what's already happened.
But longterm it won't be the default/reserve ledger.
Even if it's not bound to be Bitcoin that fills this roll, it's not going to be Ethereum. Ethereum is not built to serve this role. It would be something with characteristics that are better suited to be a secure ledger.
To me it seems like there are a lot of people in the crypto space these days who think Ethereum is "better" than Bitcoin or that it's only a matter of time before it becomes the #1 coin and that Bitcoin will soon be recognized to be outdated. But I'd suggest that these people don't really appreciate the bigger picture of why a p2p ledger is valuable.
More complex doesn't mean more valuable or better overall.
It's kind of like if you were going for a job interview, and you sacrificed smiling and combing your hair nicely in order to have a big vocabulary or a niche skill set on your resume. It might help you for certain jobs but hurt you for others.
Ethereum is more useful for certain things. As is Bitcoin. And the arena that Bitcoin is good at I think will prove to be much grander than the arena Ethereum is good at.
Great post and I do completely agree with you.
Ethereum is just simply the better project.
Thanks for stopping by!
For what it's worth that certainly wasn't my message here.
Ethereum is more complex and may be able to do some interesting things that Bitcoin can't do. But this doesn't make it "better", because there are tradeoffs to having these qualities, and it becomes worse at the things Bitcoin is good at.
IMO it is to early to even pick a "winner"
What about EOS or NEO or what comes next month or next year.
For today and the short term future BTC will be the leader. In cap, price and coin branding.
How many people have heard of BTC? A shit ton. Out of that ton. How many have heard of ETH? Way way less then half. Anyone that has invested has surly heard of ETH
I mean I hope we can see EOS goto the likes of ETH one day. Not only for the tech but I have a small pile of it :)
Hehe ya, like the great Marty McFly once said, "I'm all for that doc.. but what's wrong with making a few bucks on the side?"
I wonder how foreign the coinmarketcap page will look to us in a year or two. (Not because of any major flippenings per se, but more just because of all the new projects and how things will roll around.)
Seems like a lot of the top 10 is basically ETH and its contenders and BTC and its contenders (like XRP, BCH, and LTC aren't really filling any need besides just being an alternative to BTC).. if it started to shake out where the contenders dropped off, seems like there's marketshare to be won for the coins who are filling some specific niche purpose or whatever.
I actually don't know too much about EOS and how it works. I know people here generally like it, and I believe in Dan, so I've bought just a tiny little bit based on that, but am kind of just ignorant on the topic 😮
Thanks for sharing the video! Currently watching as I'm trying to broaden my knowledge in cryptos as much as I can. . . Kidding Kidding, what is going on with the plagerism today?!?
I think the job interview analogy was spot on. Steve Jobs actually never showered and smelled horrible at work. I would never hire him to be a waiter at a restaurant but he sure as hell can run my tech company.
We don't need a token that can do smart contracts and all these technical things for most transactions. Speed, ability to store value, and low transaction fees are what people will place a premium on.
When you start introducing other things like Smart Contracts, the problem as I see it, is that someone is always going to try and build a better mouse trap. If Ethereum gets caught up in a tech race with a competitor, then it potentially sacrifices its ability to store value.
Bitcoin could get caught up in a tech race, but it will only be about the 3 simple things that I listed. There's only so fast a transaction can process, and there's only so low you can make fees, so I do not see that being a big problem.
Lollll you got me .. In the 'replies' field I saw the beginning of your comment and that it came from you, and thought whoaa is there a worm or something??
Dang spammers!
Interesting tactic from them. I think they'll quickly move away from it tho. Spam usually just gets ignored but crossing the line into plagiarism will draw flags. (As we've seen ITT.)
Right! I think that's the thing. I've used the metaphor before of Bitcoin being a lot like discovering the wheel (mathematically). It being a relatively simple thing means it's hard to create an improvement.
There are all the little issues like ideal block size and political battles with the miners etc. But those would happen with whatever the predominant network was, and it doesn't mean there's a whole lot of room to offer a meaningful improvement. Bitcoin would likely just sort out whatever is regarded as its issues before a new coin would be able to overcome the network effect with one of those issues.
Well said, and perfect video choice with Andreas.
I get the desire to “coin” a number one crypto project, but never understood why that makes a company “better” than another. Money is not the ultimate measure of success.
punny :)
Ya, depending on the need that's being fulfilled, something can be small and perfectly successful.
Andreas "The Bitcoin wispier"
heheh yup! He's GOAT communicator
Thanks for sharing the video! Currently watching as I'm trying to broaden my knowledge in cryptos as much as I can. This is really a topic I haven't approached much so I cant really comment an opinion but rather say thanks for expanding my thoughts.
Sure!! Hope you enjoy :) Andreas is such a sicko and great at breaking things down.
sometimes I want to hug him 😲
I don't think that ETH is better from the crypto aspect itself, take in notice I am just a user, not an expert. But, what is important for me, is to use something that is fast and lightweight.
The thing is that in my country teh BTC is still a very new thing, we have one BTC ATM, and a very small number of people know what is bitcoin, never the less something else.
Now, aside form having that ATM for anything else I have to have a middle man, like a debit card or direct bank transaction ( and it is in FIAT).
I think as we are, like you said barely in infancy, for the end users where I live is too early to say what will take over, what we can use in near future as a payment option.
I think that what will be that the best protocol will only be shown with some time.
Ya, neither BTC nor ETH are connected seamlessly with the fiat system or really easy to use in the world today.
How that changes over time, which ones are used for which purposes etc, should be driven by how the coin fundamentally works.
Thanks for stopping by and sharing!
Andreas is on steemit now
https://steemit.com/impersonators/@aantonop/the-real-aantonop
Ya! He posted to let us know that other people were impersonating him on here. We'll see if he uses it anymore or not; I'm following him.
nice blog about bitcoin
resteemit done
thank you for that!!
resteemited
thanks!!
only thanks?
I'll try again:
THANKS SO MUCH!!!!!
what do you mean?
resteemit done dear...
tyyy dear 😊
Muy buen vídeo, gracias por aportar de tu conocimiento con nosotros!
very welcome
Nice post
Thanks for sharing the video! Currently watching as I'm trying to broaden my knowledge in cryptos as much as I can. This is really a topic I haven't approached much so I cant really comment an opinion but rather say thanks for expanding my thoughts.
you're plagiarizing somebody's comment .. flag
hmm
flagging because you're plagiarizing somebody else's comment
why are you posting a comment that someone else just wrote?
LMAO
sorry man..i will done upvote and resteem..
