Is Ethereum About to Topple Bitcoin?

this is the FUD that people not in bitcoin spread

In reality, the community is not split in half because the ultimate goal remains the same for both sides: increase the value of bitcoin.

Now the method to do that can be argued over, but from a game theory perspective, eventually the method that increases the value the most will win out

Maybe it will top BTC for a while, but imo it won't last since ethereum hype was built upon misinformation and hysteria. Also, Ethereum is more like the new internet while BTC is the new currency. They are not the same

the question for me is how much have capital controls affected its value

I mean, even as an ERC20 platform it does serve to facilitate the crowdfunding market, for better or for worse

Of course that isn't how it's being sold to the public but that's what it is atm

The problem with ETH and the crowdfunding market atm is that ICOs are maybe the biggest bubble in the market. They are basically being used as gigantic ponzi schemes, cash grabs and glorified PnD since 90% of them will likely never leave paper.

You could say the same is true for shitcoins, however, there's some big differences. 1- BTC isn't tied to shitcoins like ETH is to ICOs. 2-Shitcoins don't have the massive hype ICOs have.

everything you are saying is true but that doesn't mean there isn't a shit ton of money still left to be made in it in the short-term

And in the long-term obviously ethereum has a lot of potential if they can secure more advanced contract code

Sure thing. I think that ETH still has a lot to grow before the hype dies out, same goes for ICOs. Although my advice regarding ICOs is that one shouldn't invest on them right when they hit exchanges, as they all drop in price for a while before rising.

I just hope that the dream of internet 3.0 eventually comes to light. Many people are here to make money, and I am guilty of this as well, but let's not forget that we're also experiencing a revolution similar to what it was the old internet.

Bitcoin will be remembered as the Model T of cryptocurrency. First but not the last.

It's crazy to me how many examples of this there have been throughout the history of technology and the maximalists still can't see it for what it is because they already chose a team

Not for long motherfucker.

I can pretty much guarantee that everyone who says shit like that started to trade crypto around 2 months ago.

People like this don't realize that ETH is already technologically superior to BTC. It could have 0 ICOs right now and still be a better currency with a more promising future. BTC devs will not be able to out-innovate the Ethereum Enterprise Alliance. They just can't compete with hundreds of researchers from fortune 500 companies. They could all be using private chains and it will still end up benefiting the public chain immensely.

What do you mean not in bitcoin? I used to mine back in 2010 when it was feasible with just a gaming computer. I don't think bitcoin will go anywhere soon but better things are coming out, and btc isnt perfect.

Ethereum isn't a currency, it isn't a competitor to BTC.
Also, you fucktards will simply never understand that the most important for a currency will always be trust and stability, two things that BTC proved to have, while ETH didn't.
No one claimed that it was, but it's extremely silly to think that BTC will cease to be the main currency just because it ''doesn't have the best technology''.

Imagine the following scenario: Crypto is now mainstream and stable, there's the X main currency that every uses to buy shit at any store. Then, suddenly some team develops a technology that's much better than X currency. Do you think that every store would suddenly drop the stable and trustable X that everyone uses to adopt something just because it's supposedly better?

Do you think that Apple has the best cellphones in the world? Do you think EA and Blizzard sales are based on the objective quality of their games?

>brb buying more bitcoin

The whole foundation of bitcoin rests on the tenet of DECENTRALIZATION, which Ethereum rejects based on its ultimate goals

That's great if you are trying to develop a smart contract system with networked oracles, but it does NOT make it a better currency

>btc isn't perfect

That simply depends on how you define 'perfect'

is it the perfect store of wealth right now? Yes. is it the perfect currency? No.

is there a faster way to buy bitcoin? I bought from coinbase and they said itd be 7 days before I actually receive it

and also, if you believe in ethereum as a currency you should be investing in ETC, not ETH

ETC lacks a 'benevolent dictator' that happens to be slowly liquidating his position (while his #2 is 99% exited)

>is it the perfect store of wealth right now? Yes.

as someone whose been hodling for years, no. PBOC and Jihad Wu are attempting to crash this coin with no survivors.

>e tenet of DECENTRALIZATION, which Ethereum rejects based on its ultimate goals
This is what uninformed people don't get it. Doesn't matter how much technology you have in this market if your system isn't truly decentralized.
Localbitcoins.

do you not see the beauty in this predicament? As something scales to the global level there will be dissenting opinions all around. The fact that the majority of users/miners will fork and move on is a STRENGTH, not a liability

The value of BTC MAY drop in the short-term (if people are stupid and actually selling at that point) but once the cancer is gone, it will rise again

You're correct in that Ethereum is not a currency, it's basically the new internet in the making and Ether is its currency. And currently, Ether has quicker and cheaper transactions than bitcoin does. I would call that a superior currency.

> trust and stability, two things that BTC proved to have
uhh most of the world outside Veeky Forums sees BTC as some weird internet money that criminals use, that skyrockets occasionally and then drops 50%. Not exactly a shining example of trust and stability.

>Do you think that every store would suddenly drop the stable and trustable X that everyone uses to adopt something just because it's supposedly better?

No they might not drop it. But if they realize that they can gain more business simply by accepting another accepting another popular currency, they will do it. Unlike you, businesses do not have some diehard allegiance to a particular brand of internet money and will do whatever nets them the most profits.

anything thats not +$200 over market value?

Your examples have a lot to do with marketing, which Bitcoin fails at completely already.

>Muh drugs
vs.
>Muh Fortune 500

hmm

Also, Bitcoin has neither trust nor stability in my opinion

Localbitcoins has harsh rates but at least you get your deposits onto the market asap. I seriously regret not just going localbitcoins instead of waiting for coinbase and kraken to get their shit together. Probably lost $1500 in profit because I had trust that either coinbase or Kraken would take less time than 14 days to allow me fiat deposits.

LOL no ETC is garbage with a pretentious community built upon the idea that they are morally superior because they let a hacker get away with millions of dollars worth of Ether. Not to mention that it consistently gets worse gains than ETH despite having a smaller market cap. I'll stick with my ETH, thanks.

If BTC forks and loses hashpower what reason do we have to stick with BTC? There are better coins out there now and if BTC loses its main strengths then we might as well move to something better

>You're correct in that Ethereum is not a currency, it's basically the new internet in the making and Ether is its currency.

it's not the new internet at all. Most applications of the web work better with centralized servers. Do you really need 5000 decentralized nodes saving the fact that you posted a cat video on your friends news feed?

Show me Vitalik's addresses including the one where he has 99% exited his position and i'll send you 5 btc

>ETC
>same multimillion premine
>owned by same Vitalic

>Ether has quicker and cheaper transactions than bitcoin does

But it's less secure.

>most of the world outside Veeky Forums sees BTC as some weird internet money that criminals use

I honestly don't care what people think, I trust the technology not the opinions of some uniformed idiots

>by accepting another accepting another popular currency, they will do it

Yeah, and they can do this with Lightning too if they want to accept some risk without the dictator aspect

>Muh Fortune 500

Do you realize there is a difference between the EEA and Ethereum? Probably not, since Vitalik has basically been lying to everyone to deceive them.

you could say that Vitalik was the one that hacked the system since it was hardforked WITHOUT THE DAO's support, think about that shit for a second

you seem to be expressing that stability is somehow bad, that bitcoin needs to be the coin that is rapidly changing and adopting new technologies. That's not what it was ever supposed to be, and it's for that reason it remains the dominant coin

I trust Vlad's information

at least he has revoked control over the community

BTC isn't going anywhere anytime soon. It's the de facto standard of cryptocurrency. Everything is measured in relation to it.

Unless your definition of "about to" is "in the next 5-10 years", then who knows.

Do you realize that Bitcoin isn't just used for drugs either? That was kind of my point. It's how each one is generally perceived that is the most relevant thing

Stop spreading this shit FUD. Jihad's company is one of only ones that are against Segwit and they can't do shit.

Also

coindesk.com/first-look-bitcoin-scaling-proposal-segwit2x-gets-alpha-release/

>muh drugs
Except I can actually buy normal shit with BTC in tons of sites and even mainstream stores in some countries. Can I do the same with ETH? Various Japanese business are adopting BTC as a form of payment, but I didn't saw any plans of them adopting ETH, why is that?

Because BTC survived in this market for 8 years, without any problem regarding trust. It proved to be stable on a volatile market and that's why companies are accepting as payment, while they are unsure with ETH.

Pic related

>bitmain releases butthurt hardfork threat
>price crashes 30%+
>a good store of value

>30%
Nice fictional numbers. The threat was made yesterday and the price only dropped from 2500 to 2200, which is about a little more than 10%.

Oh, and that happened after a 200% growth in the last two months

meant to

>It's how each one is generally perceived that is the most relevant thing

In the short-term. In the long-term their true qualities will bear themselves out.

>BTC isn't going anywhere anytime soon.
It literally went from 1200 to 3000 in two months. BTC is the pillar that sustain crypto and it will grow every time that the market grows.

Why retards can't understand this simply concept that's true ever since the beginning of this market? I remember seeing the same kind of idiots saying shit like ''tfw didn't invest in btc when it was $10'' then ''tfw didn't invest in btc when it was $100'' ''tfw didn't invest in BTC when it was 1000'' ''tfw didn't invest in BTC when it was 1600''. And now story will repeat itself, and the same retards will cry because they didn't bought when it was $3000

I understand the hesitation now though because of the shit happening on the 1st

The chance of Segwit2x being implemented is very high though. August 1st has much more chance of increasing BTC value than decreasing it given that technical problems are the only thing holding the coin down.

people are spinning it as a negative, when in fact it is a huge positive for bitcoin

whichever chain has segwit will absolutely BTFO the other chain, end of story

When Litecoin implemented it the price dropped though

>it was hardforked WITHOUT THE DAO's support
The community voted on the hard fork.

just bought 100k USD in ETH, match me faggots.

LOL, you need a history lesson

They voted for a SOFT FORK but Vitalik and Vlad decided to go ahead with a hard frok instead because the voting process was compromised

hackingdistributed.com/2016/06/28/ethereum-soft-fork-dos-vector/

>100k on an intitial purchase
Are you trying to lose it or is this an attempt at whaling alone?

Mhmmm. I guess the fact that it says Hard Fork in the vote title is just a typo.

web.archive.org/web/20161224091248/http://www.carbonvote.com/

The goal for both sides is to maximize their profit, not increase the value of Bitcoin.

oh, the carbonvote in which basically no one participated because they were repeatedly told it didn't matter? THAT vote?

true

Maybe I overstepped in my prediction, I'm not sure. I think a devalued bitcoin would almost certainly hurt the profits of both sides but I'm not 100% positive

who said anything about initial purchase?