Bitcoin Forum

Can someone please explain Ethereum to me? I've been reading and trying to understand but am very confused.
Is it an altcoin? Is it dependent on Bitcoin? They say that it works hand in hand with Bitcoin, but how?

My understanding is that it is just a blockchain that can be used for developing software - but is ether a coin or is it real estate on the Ethereum blockchain?

I'm not interested in technical bla bla bla.. I just want some explanation in plain terms. What is it?

No. There is no altcoin named Etherium. Did you mean Ethereum?

Thanks, I fixed it.

Try this link https://www.quora.com/Whats-the-difference-between-Ethereum-and-Bitcoin?share=1


Remember Ether is the currency of the Ethereum platform and when you use Ether to pay the miner fee for a transaction is it called 'gas'.

Basically every coin which has been created after Bitcoin is called an altcoin. It does not play a role whether it was programmed from scratch or not. From this point of view, Ethereum is an altcoin as any other coin, too.

ETH is more of a decentralized computing system which happens to have a crypto coin built in. :P

Well, but this is not an unique characteristic of Ethereum. This could not be taken as an argument for not calling it an altcoin.

OP, this right here is the truth.  There's bitcoin and then there's everything else (altcoins).  Now this isn't to say that it's going to be that way forever.  If ETH overtook bitcoin somehow, bitcoin itself could become an altcoin.  Stranger things have happened.

Bitcoin could never become an "alternate" coin as it is the first mainstream cryptocurrency. I am not disputing it could fade away and another "alt" move up at some point, but Bitcoin would then simply become known as something like "the original", the "predecessor" or "the founder coin", but never could it be an alt.

For now though, there is a very simple test you can perform to see if something is a alt coin.

Step 1: Is it Bitcoin?
Step 2: If yes, then no it is not an altcoin, it is Bitcoin.
Step 2: If no, then it is not Bitcoin, thus it is an altcoin.

See this is what I'm having trouble understanding. If I were to word this differently, I'd say it's a blockchain operated by an altcoin they are in denial of.

Is that the case, or is Ether some real estate on the Ethereum blockchain? Can I trade Ether as a coin I can invest in, or does the purchase of Ether merely give me programming rights on Ethereum?

From my understanding, it is a currency, but also much more. I think a lot of the wording is because they are trying to get across the point that Ether is not "just" a currency, but can be used for much more, powering Ethereum applications for one.

Remember all of this is new territory, and with these new "currencies" (using the word loosely) opens up many new and exciting opportunities that did not exist before. The old days of looking at a currency as simply the paper fiat in your wallet are so limiting at what new blockchain technologies are capable of, that I think they are shying away from branding Ethereum, or its Ether, as such.

In essence, we are going to have to rethink what a currency is capable of, or even what it is for that matter. Decoupling old concepts such as centralization, Central bankers, Banks, or even exchanges and marketplaces, contracts, etc., basically every and anything connected to our current way of thinking about money will need to change as these new technologies grown and mature and slowly replace the traditional financial system. This won't happen overnight, but the initial seeds are already being planted, both in practice and more importantly in peoples minds.

Ethereum is an alt coin as it was built by those greedy bastard that what to wipe out bitcoin.
Those ethereum developers are so naive to take down bitcoin with alt coin which is getting some hype.

Well since none of these guy will answer the question.. hmm i wonder why ?  ::)

NO.. it's not.

An altcoin is a currency and this ETH is not a currency.
It seems to be some kind of block-chain add-on app's digital token spin-off type thing.

The question in the topic title is clear..
Would i classify it as a "Currency / Altcoin" ? NOPE !

This ETH shit pushes off in a new direction..
And this was to solve a glaring / obvious problem that needed to be solved ?
In relation to a digital currency ?

Does it compete with or improve on Bitcoin or say Litecoin etc ?

Seems to me it's a horrendous scammy IPO launched "coin" that was hidden for years ..on purpose !
And it has a gimmick associated with it of the sole purpose of separating itself from the others.

Just ask yourself guys.. WHAT does it actually do ?
And was there a need for that ?
Would "THAT" be considered a currency ?

I wouldn't get involved with it because it's not a currency
and i came to the Altcoin scene to support a digital currency.
Profit making on a Pyramid scheme is irrelevant.

kinda hard to understand what you're saying but I think you answered the question.

Im not saying you are wrong but... man do you love getting trolled lol

i call bullshit !

explain to me what don't you get ?

all of it ?
you seem to speak English well enough.. do i have to talk slower ? LOL

---

@milly6
How was i getting trolled ? ..wanna fill me in over here ?

and guys.. post your classic obligatory Bitcointalk "one liners'
i always love 'em  !

EDIT:
And by all means if you have ANYTHING at all what so ever to say ON-TOPIC we're all ears ;)
I made some assertions and they went ignored with some snarky comments / jabs at me *again*
WOW never seen that here before hahahha

Ok well this is what I do and don't understand:


Clear.


Unclear but I guess this is just a rant.


Not sure what you mean by pyramid scheme either.

DEFINE THE WORD "CURRENCY" NOOBY ACCOUNT

simple ?

dude,if Etherum not a altcoin,it will not listed on exchange,as you know now etherum listed in almost every altcoin exchange.

anything bitcoin based fork is an altcoin not $etc

you could have used google to find the official website and read the details faster :)
yes you can call it an altcoin but ethereum is more of a platform rather than being a coin. it had a nice idea but the platform and the project is not good enough in my opinion. there are other very similar projects that do things better and with less bugs. such as Lisk.

and not it has nothing to do with bitcoin, they try to attach themselves to bitcoin whenever it suits them to advertise their project and pump it as we saw last week. and ethereum is centralized and most of the supply is controlled by the whales. these are the only things you need to know about it.

but go the the website and see the code for more information if you are interested in the platform and the pump and dumps.

The main ideaislike this;
Bitcoin and others :)

I mean all the cryptocurrencies but bitcoin are altcoins..

Ethereum were like Bitcoin ,they are both cryptocurrency and they can grow in time.

Ethereum is platform for smart contracts, ETH is token which runs on that platform.
Here you can find most information about it: https://www.ethereum.org/

1 million bitcoin is owned by someone? Guess who is ? Not satoshi sure. All coins same

Actually lots of other tokens like LUN, VOISE etc run on Ethereum platform. ETH is currency/unit used in ethereum platform, ETH is required to send any of tokens based on ETH smart contract. Ethereum is more than just another altcoin.

in my opinion ethereum is altcoin, but ethereum is inovative altcoin, they have smart contract feature which make everyone can create token based on ethereum. Every cryptocurrency which is not bitcoin will called as altcoin

Yes. Ethereum is an altcoin, and right now it is the biggest altcoin in terms of market cap (and also in terms of the number of users). And you are right about its link with Bitcoin. The exchange rates seems to be dependent upon that of Bitcoin, as most of the trade volumes are coming from BTC-ETH trade. But recently I have noticed increasing volumes for the ETH-USD and ETH-EUR pairs as well.

Ethereum is an alternative coin so yes it's considered as altcoin. Bitcoin and Ethereum have a big difference also.

My understanding is that any coin that is not Bitcoin is altcoin.

Yea etherum is best altcoin for me and I suggest to everybody to put better money in etherum then bitcoin.Many experts suggest to put own money in etherum then in bitcoin because etherum is growing faster and it looks better for me.Also I like more etherum because Vladimir Putin suggest etherum.