Lets try something different.
I will upvote all cool replies to this post.
Lets say BItcoin finally gets RSK - smart contracts.
ETH has em already and its main reason why its so high and used so much.
What do you think will BTC kill ETH then or people will still use ETH ?
By Kill i don't mean ETH will stop existing, i just mean if its gonna lose its portion of marketcap as it wont be needed as much.
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BTC is too expensive and takes long time to transfer (not to mention transaction fee). ETH should be a good alternative.
RSK is a Bitcoin sidechain. RSK is much more scalable than Eth:
https://steemit.com/bitcoin/@sames/understanding-rsk-bitcoin-s-smart-contract-platform
well it won't really die, the same way litecoin, dash, ethereum classic are still rolling along... I noticed an ATM company around my area is now letting you buy and sell altcoins along with bitcoin....amazing times ahead
hope so ;)
ETH has first mover on all the ICO tokens, so even if they can't get sharding etc working, they will still be relevant and ahead of BTC on that front.
BTC has already got Tether....but what has that done for them?
I have been hearing about Root Stock and Lightening since early 2015.
In fact, it kept me from buying ETH ICO. I made the mistake like many are doing today thinking Bitcoin would do it all but it has not.
This stuff is nothing more than vaporware but if it does finally launch it will take long time to catch up with ETH smart contracts.
ETH has issues scaling but I believe they will solve it with Casper release & sharding into late 2019 & 2020.
Coins w/ DPOS like EOS & STEEM seem much better for high speed dapps.
Where ETH is becoming backbone of decentralized finance.
Posted using Partiko iOS
EOS can kill ETH yes
It not vaporware(it out now), but agree on the fact like other platforms Eth got the first mover advantage hence getting hold of it would take a long time.
RSK pretty scalable actually:
https://steemit.com/bitcoin/@sames/understanding-rsk-bitcoin-s-smart-contract-platform
Only time can tell who comes out on top...
If rsk works as good as lightning it wont kill it.
Posted using Partiko Android
hahaha :)
Dogecoin will kill them all .
I hope so :/
DOGE FTW :)
No. Easier to mine.
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BTC > ETH
oh yes...
The answer is yes... but the path is not straight forward.
Blockchain is a world-wide, slow ass, ledger.
Ethereum is a world-wide consensus computer, but if it doesn't store something, all the computation in the world is useless. So, it ends up being a ledger.
Although we can think of millions of applications for smart contracts, they really boil down to only a few.
So, it will come to pass, that all coins/tokens will have all the standard smart contracts (just like every programming language has printf).
And all the chains will have automic swaps.
After that, ethereum will become nothing more than a test platform and will be forgotten just like Forth and Fortran.
Holy shit man, I just wrote about it lol
https://steemit.com/bitcoin/@sames/understanding-rsk-bitcoin-s-smart-contract-platform
haha nice!
It won't destroy ETH but most certainly it will widen the gap and ensure its market superiority. Bitcoin is grandpa trying to be hip with the younger competition.. Ethereum won't die, but Bitcoin should feel threatened by younger coins.
this grandpa never dies ;)
There is a distinct dev-user relation when it comes to ETH and BTC. There's alot a stress put on the ETC devs by the users for more flashy cool stuff while BTC dev is asked to take things slow.
IMO if RSK really does get implemented it will still have a good year before there's even apps built on it. ETH should be fine in the meanwhile.
I don't think ETH would die so soon. Depending if the big projects stay or move to Bitcoin, we might see ETH and Bitcoin side by side.
Let's hope Bitcoin doesnt gets bricked when "BitcoinKitties" come out.
EDIT: RSK is out
Cough RSK already out :P
Oh and it much much more scalable than ETH.
https://steemit.com/bitcoin/@sames/understanding-rsk-bitcoin-s-smart-contract-platform
Thanks for pointing out!
But my opinion still stands though.. Devs aren't gonna come up with apps in a blink of an eye.. It'll still take some time.
Agreed look at EOS,Tron,Neo and others. RSK does have one extra card in its deck though-the brand name and security of Bitcoin behind it. But yeah fully agree with your point :)
Every Blockchain needs to scale or else the Blockchain is commuting suicide. This should be the primary concern; can everybody use it, all at once? Even maybe in the future? If the answer is no there is likely bad news, down the road...
i wonder if we will get all blockchain compatible one day
It’s good to know that Steem and Bitshares are ready (:
There are projects working on that :P
Everything has its own value and existing, like we never thought steem will come this far down, but it did, maybe it will rise now along with the btc, as far as eth concern, yeah it will loose value, but not much, in my point of view
@kingscrown , I think that BTC or ETH with or without a smart contract does not matter. But it is important that ETH or BTC need market to grow. ETH was very successful after BTC. But later? Time will prove this.
I think we need them to be 2 different coins, like we don't buy shoes from Starbucks, we won't use smart contracts on Bitcoin because even if they'll be implemented, Ethereum will do it better.
actully RSK uses ETH language. RSK does everything Ethereum does.
I think ETH was in trouble before. This just adds to the already big trouble it is in.
It is not near as fast as Steem or EOS. To build games, transactions cost every time. To run apps, the chain is near capacity at all times. Trying to switch to POS while maintaining activity... all of this is not good for ETH. Next generation chains like ADA, EOS, TRON etc... will also take away from ETH. With BTC now adding RSK, ETH is not growing in cap IMO, likely shrinking.
No I don’t think it will die, ETH already supports way too many tokens for it to be abandoned it’s already been integrated into s crazy amount of exchanges and is one apart from BTC is one of the few currencies you can easily exchange for fiat and vise versa
Vitalik will also continue to improve the network with upgrades that will see it differentiate itself from other chains! So while others are playing catch up ETH keeps driving forward and taking risks
I don’t think blockchain will ever be a 1 chain system and ETH is here to stay!
Posted using Partiko iOS
In my opinion, there is clearly a risk that ethereum could become quite irrelevant if Bitcoin has its own smart-contracts.
EOS or other protocols might be use for large amount of transactions needed and Bitcoin could be use for high value / high security needs smart-contracts.
Of course, Bitcoin would have to scale to be able to run a lot of smart contracts on its Blockchain.
Take care.
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Until BTC can scale, their is literally no debate
.
Bitcoin can scale. LN and Sidechains.
https://steemit.com/bitcoin/@sames/understanding-rsk-bitcoin-s-smart-contract-platform
Bitcoin won't run smart contract on it main net. It will run it on RSK:
https://steemit.com/bitcoin/@sames/understanding-rsk-bitcoin-s-smart-contract-platform
Why ETH should die?
That is a good question. My answer is NO.
I will ask another question:
Are Bitcoin and Ethereum dictatorship or democracy?
That's a very interesting question, i have been thinking about that a lot lately. I don't think blockchains like neo or ethereum will be death when people start to use smart contracts on the bitcoin blockchain. Bitcoin blockchain works with proof or work consensus algorithm. This is more secure than proof of stake but not scalable and fast. So they both have their advantages and disadvantages. Smart contracts on neo or ethereum are fast but not 100% secure. Smart contracts on bitcoin are secure but not very fast.
BTC 》ETH
BTC the first
Posted using Partiko iOS
@kingscrown this heavy rival BTC Vs ETH
yay!
do you like trading with ETH?
@kingscrown
Resteem.
price and volatility will determine.
It will definitely loose market value
ETH will experience a slow death, BTC being the killer....but not immediately. The decline will be a steady and slow process:-(
Eth came after BTC and have manged to build an environment for way more applicable use than just merely being a currency or store of value. BTC is older tech and will however remain relevant as the first and perveived to be possibly most decentralized and secure cryptocurrency.
Furthermore, BTC is yet to solve the scalability issues. The launch of smart contract on the BTC blockchain isn't much of big news. It's already being done by Eth and many other competing cryptocurrencies whose blockchain were built from ground up to specifically support smart controls contracts and other protocols needed for high scale use.
The news of BTC launching or rather supporting smart contract will have almost no consequences on the development of smartcontracts on the eth platform.
Cough, yours points are kinda outdated.
Also:
https://steemit.com/bitcoin/@sames/understanding-rsk-bitcoin-s-smart-contract-platform
I think ethereum will slowly fade away because there are better cryptos with better and more developed features. Also its price have dropped significantly because of all the money that were accumulated in it during the ICO "boom"...
I am a fan of Nebulas, you should definitely search that one but also EOS and NEO will be huge I'd say.
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thanks for votes! i wonder why i got 66 from 63 ;x
Just like how Bitcoin has a first movers advantage within crypto, Eth has one with Smart Contracts. Being the first to the ball game with such a technical aspect has allowed for countless hours of work to be done in response to real world situations that can not be accounted for until code is implemented live and used to capacity
Bitcoin will strengthen its place on top. If this works out I never see Bitcoin losing its value. Another coin may overtake it but it will remain as a safe bet for the risk averse and for the people who have a lot of savings.
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There are a ton of Crypto Markets out there... I do think that most will fail and disappear. However, ETH will never die. In my opinion, There are too many real-life uses already and has a very large community. There is plenty of space for 50 of these cryptocurrencies to exist in the future. Plenty of Niche markets to be conquered...
Ethereum clearly has issues, but will not easily be replaced. It takes a lot of work to switch to another Blockchain, so I would think that teams would only switch if they see their project fail if they stay on Ethereum.
Also if you want to do an ico for your project, then investors can easily change their fiat money into Ethereum on coinbase for instance.
If people first have to get bitcoin or Ethereum and then switch that into another coin, on binance for instance, before sending it to you for your ico, then that is an extra difficulty that will stop some investors from investing in you.
In marketing we know that distribution and availability is important.
App builders choose to build on Windows, iOS, Android or Linux. None of them are going to disappear anytime soon. I think the same is true for Ethereum.