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Can Bitcoin and Ethereum co-exist?

Wed Jun 28, 2017 10:19 pm

Yeah already are doing isn’t? I think they can very much co-exist and not just these too. I completely believe that down the line in next 3-4 years, I will be 10-15 Crypto Currencies that will be fighting for the top spot, so they all will co-exist and there is no reason why they can’t. The market is so big that it’s easy.

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Re: Can Bitcoin and Ethereum co-exist?

Wed Jun 28, 2017 11:28 pm

Bitcoin is not going anywhere.

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Re: Can Bitcoin and Ethereum co-exist?

Wed Jun 28, 2017 11:56 pm

Ethereum and Bitcoin are not direct competitors for monetary system transactions. Ethereum isn't a crypto-currency, it's a token, and it's value as a currency is as a representative of processing power over the Ethereum blockchain network...not as a currency to buy goods and services.

They are similar only in that (1) they operate off a blockchain ledger and (2) people view them as investments. 1 unit of processing power on the Ethereum blockchain (i.e., 1 ether) could become more valuable as the demand for Ethereum's blockchain platform increases.

Thinking that Bitcoin and Ethereum are competitors is the biggest misconception/misunderstanding about what Ethereum is.
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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 12:52 am

The actual question is: where does the value of ethereum come from ?
There are two answers to this. The first answer is: because it is a tradeable token on which traders can bet (eh, sorry, "invest"). In that way, BTC, ETC, ETH, .... are all just betting tokens, and if pushed all the way, there doesn't even need to exist a block chain: only tokens on exchanges on which traders can bet, and "quick rich people" bring in their money, hoping to strip some off other quick rich people that are somewhat less smart.
This is the "value" of most crypto, BTW: a trader's betting fest.
The second answer is "the utility". Bitcoin was supposed to be an international currency (but I still cannot buy bread with bitcoin...). So the market cap of BTC is way way beyond its currency use.

Ethereum was supposed to be a smart contract platform. This is probably the reason why its tokens rose so quickly so high out of the altcoin swamp as compared to others. The arguments of having two platforms is a nuisance are valid: it is a pain for programmers that there is windows, apple (iOS) and linux(android), but they do exist.

However, are we serious ? After the DAO debacle indicating the fundamental mistakes in ethereum and the dire consequences of its unavoidable bugs and exploits, *does anyone really seriously think that there are going to be big killer apps on ethereum ?*
Seriously ?

So isn't the whole ETH market cap not totally overblown to this, (like bitcoin's is as currency) and isn't this just an "initial value" for traders' betting without anything behind it ?

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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 1:23 am

Ethereum isn't a crypto-currency, it's a token, and it's value as a currency is as a representative of processing power over the Ethereum blockchain network...not as a currency to buy goods and services.
And after I make the statement above a news article comes out stating Bitpoint, a Japanese payment intermediary, will start offering Ether alongside Bitcoin as payment alternatives to the Yen.

To my knowledge this is the first time Ether has been positioned to be a currency for goods and services.

Article: Bitpoint adds Bitcoin and Ether payments to platform with Unionpay, Wechat Pay, and Alipay
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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 4:01 am

Why not? ETH was specifically created as gas for smart contracts and Bitcoin is meant to pay for goods and services. I don't see them as being in competition.
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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 4:33 am

I've said it recently in another thread and I'm going to say it again.

Bitcoin and Ethereum are made for different purposes.

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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 8:20 am

Obviously no since Bitcoin is cryptocurrency while Ethereum is Smart Contracts, also Ethereum development is heavily centralized while Bitcoin development isn't too centralized.
Also, Ethereum also experience same problem that Bitcoin which is about transaction fees and few ETH developer now scare new bitcoiners.

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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 11:42 am

Obviously no since Bitcoin is cryptocurrency while Ethereum is Smart Contracts, also Ethereum development is heavily centralized while Bitcoin development isn't too centralized.
Also, Ethereum also experience same problem that Bitcoin which is about transaction fees and few ETH developer now scare new bitcoiners.
I think you meant obviously yes? :P

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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 4:31 pm

Look at the cars BMW and Mercedes, they somehow still exist)

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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 5:22 pm

There are definitely going to be different advantages to different cryptocurrencies and plenty of them will find a niche that no other crypto will be able to dislodge them from. There's no reason why a dozen or three digital currencies won't be able to co-exist and thrive at the same time.

We live in an exciting time where we can watch this happen!
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Re: Can Bitcoin and Ethereum co-exist?

Thu Jun 29, 2017 6:12 pm

We can say that it is necessary, healthy competition in the market gives a choice to people
Last edited by denny.pac on Fri Jul 07, 2017 10:16 am, edited 1 time in total.

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Re: Can Bitcoin and Ethereum co-exist?

Fri Jul 07, 2017 3:46 am

Why not? I believe they both have specific areas that they address very well and so will other altcoins that meets a specific need.
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Re: Can Bitcoin and Ethereum co-exist?

Fri Jul 07, 2017 10:17 am

In addition, bitcoin needs healthy competition, this task will be fine with etherum

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Re: Can Bitcoin and Ethereum co-exist?

Fri Jul 14, 2017 7:57 pm

Obviously no since Bitcoin is cryptocurrency while Ethereum is Smart Contracts, also Ethereum development is heavily centralized while Bitcoin development isn't too centralized.
Also, Ethereum also experience same problem that Bitcoin which is about transaction fees and few ETH developer now scare new bitcoiners.
Copy paste? or are you ETFbitcoin? https://bitcointalk.org/index.php?topic=1963568.0

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Re: Can Bitcoin and Ethereum co-exist?

Sun Jul 16, 2017 12:56 am

The challenge is for these cryptocurrencies to survive and stay decentralized. Ethereum is very inefficient as a "decentralized computer". It's probably better for small contracts and tokens. ETC is really popular in China, so I think ETC is more of a competitor to ETH than BTC.

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Re: Can Bitcoin and Ethereum co-exist?

Mon Jul 17, 2017 2:59 am

This is just my personal opinion but Ethereum is just a concept of replica of Bitcoin. I know these two are slightly different. However, I can't stop thinking that Ethereum is just an alternative coin that replaces Bitcoin in term of small amount of money

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Re: Can Bitcoin and Ethereum co-exist?

Mon Jul 17, 2017 5:26 pm

IMO, all coins co-exists in some way, but are all dependant on Bitcoin in a way also. Sure, you can buy ETH and BTC, and LTC all for USD, but almost everything in Bitcoin's life effects the life of every other coin, including Ethereum.

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Re: Can Bitcoin and Ethereum co-exist?

Mon Jul 17, 2017 5:28 pm

Yeah already are doing isn’t? I think they can very much co-exist and not just these too. I completely believe that down the line in next 3-4 years, I will be 10-15 Crypto Currencies that will be fighting for the top spot, so they all will co-exist and there is no reason why they can’t. The market is so big that it’s easy.
They can, should and will coexist. There does not have to be one winner. Both perform a different function. If Bitcoin grows, so will Ethereum.
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Re: Can Bitcoin and Ethereum co-exist?

Mon Jul 17, 2017 5:36 pm

Yeah already are doing isn’t? I think they can very much co-exist and not just these too. I completely believe that down the line in next 3-4 years, I will be 10-15 Crypto Currencies that will be fighting for the top spot, so they all will co-exist and there is no reason why they can’t. The market is so big that it’s easy.
They can, should and will coexist. There does not have to be one winner. Both perform a different function. If Bitcoin grows, so will Ethereum.
I would have to agree with you here. They will both live in my opinion.

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