Ethereum Vs Bitcoin: Functionality Pro's and Con's

Nowler

Experienced member
1,515 225
As with so many things in life, it doesn't work like that.

The price of Bitcoin is largely driven by speculative trading and fluctuates wildly accordingly.
It's best avoided for this reason alone.

...Ethereum is the next most valuable by a big margin and there are many applications based on it's blockchain workings, so it's likely to be much more practical to use as an alternative currency in the longer term, not least because the max supply limit of Bitcoins will make them impractical over the longer term.

Agreed.
And maybe it's a good thing that the current market valuations of BTC and ETH are so different.
I wouldn't consider opening a position in BTC at these prices, and even if I did, it would be purely speculative.

ETH on the other hand is something I am interested in opening a small position in.
It's far less volatile than BTC, and seems to be more useful.
It's already leaps and bounds ahead of the competition, and ETH 2.0 is due in... 1-2 years??

If digital currency is the future, then it's most likely going to be a Central Bank issued one - not the adoption of Bitcoin, or Ethereum.
So when we remove that from the equation, we are left with the blockchain technology itself, and this is where it seems ETH has BTC beaten, hands down.

You touched on an interesting point however, and that's the max supply limit.
From what I can make out, the max Bitcoin limit of 21million will not be reached until around 2140.
Though apparently the source code could be changed to allow more...

Ethereum has passed 100milion, and apparently Vitalik Butterin has proposed a cap at 120million (or 144million if 120 is passed by the time it's agreed). So if it has no cap currently, and they can put a cap on it... then I assume a cap can be removed again?? Meaning that technically, neither is finite.

From what I have been reading, ETH is about to go beast mode in the coming months (year?) with ETH 2.0
This will make ETH far more efficient than it currently is right now.

Ethereum 2.0 is coming – Here’s what you NEED to know
 
Last edited:
  • Like
Reactions: MasterOfCoin

MasterOfCoin

Experienced member
1,228 478
If digital currency is the future, then it's most likely going to be a Central Bank issued one - not the adoption of Bitcoin, or Ethereum.
Which would be a complete disaster !

The whole point of digital currency is that it does not need a central bank.
Indeed, that was the entire purpose that drove it's development.
Eliminate fake currency (the flawed by design fractional reserve system) and you get real money with value that can't be manipulated at will by greed or corruption or political whim.

I agree that Governments and Central Banks will most certainly launch Digital Currencies in the near future in a desperate attempt to secure absolute control over all financial transactions in every possible circumstance. They are spending a great deal of time effort and resources in developing them.

Make no mistake, this is done in the name of slavery, not freedom.

I'm not suggesting that there's anything inherently wrong with that, just pointing out that it's simply replacing paper slavery with digital slavery, and if that suits, then so be it.

But it won't fix everything that's flawed about using a debt based money system that requires exponential growth in new debt in order to service the functioning of the economy.

Blockchain technology and the elimination of the need of a central controlling bank to facilitate transactions has the potential to make all that history. No more spiraling debt, no more currency manipulation, no more rampant inflation.

Of course, the downside is, you then can't magic money out of thin air, or print as much as you want whenever you feel like it. Oh deary me, no more stimulus cheques :ROFLMAO::ROFLMAO::ROFLMAO:

The upside is, far less fraud.

Blockchains are immutable. Once somethings embedded in the blockchain, it's indisputable. & that's good, very, very good.

Imagine that for a sec, your right to a share dividend or title to a land deed secured in a blockchain, that can't be lost, stolen, altered or disputed. Oh the possibilities....

And that's where Ethereum (and others similar to it) comes in- it's designed to accommodate just such things.

So yes, all hail ETH 2.0 and the demise of the Monster from Jekyll Island.

(y):cool:(y)
 
  • Like
Reactions: CavaliereVerde

Nowler

Experienced member
1,515 225
I just don't see an end to central banks. Perhaps we will see an end to commercial banks (if this happens, it wont be until long after we are gone)... and each country will have just the one bank... and they will all have their own digital coin (currency).

Aren't China leading the way in terms of a sovereign digital currency?

No matter what system we adopt, it will never be perfect, and it will always end badly. It's just how it is...
It comes about as an alternative to the old way that wasn't working, but only ever comes when the shit is hitting the fan.

Then it too becomes an old way of doing something, superseded by the new system.

We must also factor in the exponential growth of our species too!
A finite amount of money makes sense... at the time... but as we grow exponentially, there is less and less to go around, and therefore more needs to be made as there isn't enough to go around, or we need to totally change the system again.

We will never change a system unless we are forced to.
A patch is always preferred.
 
  • Like
Reactions: MasterOfCoin

MasterOfCoin

Experienced member
1,228 478
I just don't see an end to central banks.

Neither do I - the United States in particular has a long and interesting history of Presidents who died prematurely while attempting to do so (end central banking). But if ordinary people simply switch to using alternative payment systems on mass, they are kind of left high and dry, lol.

Aren't China leading the way in terms of a sovereign digital currency?

They are indeed. Oh, the advantages of a one party communist state !

We must also factor in the exponential growth of our species too!

I rather think Covid, or something similar, might help with that o_O

We will never change a system unless we are forced to.
A patch is always preferred.

So true.
It's only when all the patches are leaking faster than the pumps can bail, that everybody suddenly rushes at once for the wholly inadequate number of lifeboats. Most drown.

Lesson: Disembark in a life raft as soon as you see the torpedo trail ....
You may well perish anyway, but it sure improves your chances of survival.

:)


... and stash some coins in a crypto wallet, you may need them one day.
 

Nowler

Experienced member
1,515 225
Unfortunately there won't be a switch en masse to an alternative system as people are now even more in the palms of government and central banks than ever. Yes, we seem to be more willing to protest and riot, and yes, we can force their hands to a degree, but it wont be in terms of a new monetary system (not one the govs/CB's can't control). We will use whatever they decide that we should use.

There is currently no alternative that's ready to use...
This current system, like the gold standard, is inadequate for what the world had evolved into.

We have already established that Bitcoin is not practical for them, and as much as I am beginning to like ETH, it along with all other current crypto are off the table too - for this purpose anyway.

A centralised digital coin is the probable successor.

I am going out on a limb here, but with all the debt in the world, and the likelihood of a massive kick-off in military conflict, perhaps that will be the best time to default (or whatever term it will be branded as) on debt obligations. Maybe it will come towards the end of a long and painful war... and in the spirit of a new world, certain debt is washed away to coincide with this new post-conflict world, and the dawn of a new system.... a digital system??

In regards to Covid addressing the exponential growth of humans - fat chance!
The mortality rate is too low... it's not a global killer. Plus, even if it was more deadly... it's temporary. We would (and will) continue to multiply uncontrollably again.

Lets face it... we've had a great run :)
Maybe not you or I, but as a whole, we have had a nice run of prosperity - albeit declining with time... but it's time to shake things up again.

I wonder what will be left standing when the dust clears, lol
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock