Bitcoin Forum

While Ethereum has been seen as a competitor to BTC, the DAO crowd sale is about to reach its first price increment and it has already raised 65M USD. The USD price of ETH and BTC have both risen. This shows that there in not a predatory relationship occurring but rather a symbiotic one. The two serve diverse enough needs that they can grow by offering enough of what the other cant. I know the DAO is still a concept and could easily fail. So was BTC when it was first proposed and despite all the skepticism it succeeded. The DAO is a valid objective. What BTC offers is the most accessible and secure network. I hope more energy is focused on how the two ecosystems can evolve symbiotically and ignore the wasted energy of predation while there is a world of fiat to colonize. 

+1 right here. anything that increases new BTC usage , is good for BTC. excitement and sentiment are good for new investment.

Ethereum has it's place in the Crypto currency market, but it's definitely not a competitor for Bitcoin. The only reason why it has seen some more growth, was because it was hyped up like crazy. That

said, I honestly think they should not try to compete as a currency but should focus on their strong points { Smart Contract and Decentralized Application Platform } At this moment Ethereum is way

too complicated for the average consumer to understand, and that will lead to it's downfall, if they attempt to go mainstream. Bitcoin is already challenging enough and Ethereum is even more

difficult to grasp.  ???

The recent days the price of both bitcoin and ethereum has been rise great. I consider ETH as a good coin because sometimes it brings profit when trading bitcoin to etherum and vise versa. The difference between these two are the confirmation time, eth is much faster.

Apologies I see i locked the topic by accident.

In the space of 2 hrs DAO funding has jumped 10M and BTC and ETH both Up! 

The only reason why ETH hasnt dropped is because everyone buying ETH right now is converting to DAO and thus cannot sell ETH. However, I beleive that ETH and BTC will rise in correlation in the future.

i would never invest in something that has a limitless supply (ETH).

i would never invest in a DAO where 99% of the people dont even know what DAO means. probably it is a great gamble - good luck  :P

Why I’ve Resigned as a Curator of the DAO

https://medium.com/@gavofyork/why-ive-resigned-as-a-curator-of-the-dao-238528fbd447#.yx9w9u7wl

Agreed the DAO is a highly risky preposition, as much as it potentially solves, it also opens itself to risk of the community making the wrong decisions. That said BTC is rather slow at implementing new ideas, not a bad thing because you get less risk. Time will tell if the DAO community is up to the task, but nothing ventured nothing gained.

ETH is good for BTC.

They do the yeoman's work of mopping up all the transactions and market cap that won't fit in a 1MB Bitcoin, this keeps us decentralized and free from censorship.

Eth is a regulatable form of bitcoin in my opnion. It has its benefits, but ultimately, I feel as thought eth is the banks giving us a bank approved version of what we already had.

I would very much agree with all that has been said.  ;)

Totally agree!

I have recently read a nice post (can't find it anymore) where someone stated that Bitcoin is rather a digital value storage like Gold, while Ethereum is something like oil or gas. This is the best explanation I have read so far and I agree to this. As a result of this, both are actually no competitors, rather they cross-fertilize.

Ethereum is good for Bitcoin, Bitcoin is good for Ethereum. It's a symbiotic relationship.

Ethereum will allow for better smart contracts and applications to be added to the cryptosphere, which in turn can help benefit the position Bitcoin puts itself in, along with all other cryptocurrencies. I personally think that Ethereum is being used primarily as another speculation crypto right now, though, and it still has a logn way to go before it is being used properly and it actually has a ~$9 value instead of being inflated from investors.

It doesn't have to be "either, or" when it comes to crypto currencies. Though there isn't any specific reason for anyone to use Ethereum, it doesn't detract from Bitcoin or any other currency.

I believe that an ecosystem of currencies is far more healthier than have one dominant platform

Its funny as these "limitless supply" arguments are never made against the fiat you so gladly cash out. Myself, I think having a reasonable amount of growth is a good thing if you want a usable currency in the future. With the DAO absorbing up to 10% of the ETH (granted it will at some point be released back into the market) we can already see that 100 million of a currency is not all that much. If a few other projects come down the line taking such shares, over half of the supply could get locked up easily.

Then there is also the question of mass adoption. Right now Bitcoin's 21 million and Ethereum's current ~80 million supply seem like large numbers only because of cryptocurrecny's small user base. If and when this user-base grows significantly, these numbers will become rather limiting. Just for an example, lets suppose that one of the every 100,000 household's in the US would want to own just one whole unit of each of these coins, there would not be enough supply to meet the demand. Then we have the rest of the world. So the too big of a supply argument is ultimately just FUD and a narrow minded view of the world.

DOA will be the most epic crash in the crypto history. This will has definitely negative action to bitcoin. 55 million and maybe more to create a decentralised blockchain locker? lol :D

Exactly whichever cryptocurrency avance we have it is better for crypto as a whole and also for BTC, as it creates awareness. Real competition will happen when almost everyone uses crypto and they have to compete for supremacy.

The thing is it likely won't matter what happens with the other alts when it comes to how Bitcoin will change in value. The alts will compete against each other, but Bitcoin will more than likely remain the gold standard of cryptos, and always have a value relatively higher than all the other cryptos that exist. Bitcoin exists more as a store of value and a sort of proof-of-concept, while alts can aim to do everything better.

Honestly, I was quite scared for Bitcoin when ETH was doing well. Now I just see it as a way of helping people see how Bitcoin is better and making the price go up.

it is funny how stories about ethereum changed over time, at first (by the time of eth pump when there was all the drama+FUD about bitcoin) the price of bitcoin went down and they said bitcoin is dying and ETH WILL replace it then eth was pumped like crazy.

now that the drama (until the next drama of course ;D) is over and bitcoin is rising the stories change into "ETH is good for BTC" and also talk of relationship between the two lol

p.s. this topic is altcoin related by the way

Lol. Oil and gas are used and actually needed by society, ETH is just a shitcoin that nobody outside of crypto gives a fuck about.

Ethereum is inovation for cryptos and not bitcoin only, there are some coins who made on platform ethereum.

Honestly, I do not know, good for Ethereum Bitcoins or not. At its core, it's still different coins for different needs. Is that the dissemination of information about the Ethereum, promotes the spread of information about krptovalyute as a whole, and may be interested in people and Bitcoin including.

To be fair, bitcoin was more or less just a shitcoin that nobody outside crypto cared about.

Why is this discussed here in Bitcoin Discussion?
Imo this belongs to the altcoin section.Doesn't matter how hard op tried to create a topic about an alt with bitcoin in connection!
Eth is still way overhyped! And all that DAO, DAPP CRAP DOs Don'Ts bla bla bla is a hell of a scheme created by some vampires to suck all of crypto money they can from the dummies.

I was afraid too, because when ETH was going very well the bitcoin price crashed and i was afraid that the bitcoin traders are going to move to ethereum and leave bitcoin. But seems that it was not how i thought, but still ETH is having a good success especially this week when the price increased for about 10%

I suppose ETH could've been even better for Bitcoin with some kinds of integrations or something instead of issuing a new token. At this point though it feels as if Ethereum has the network effect (or at least mindshare) for the smart contracts ecosystem. It's getting bigger everyday and it's starting to look like Bitcoin in relation to other altcoins when compared to other smart contracts projects. I personally have no investment in Ethereum so I don't mind either way.

All my friends were telling me to switch to ethereum. So I bought a couple of them on yobit and had to sell them for a lower price than what I bought for. Once bitten twice shy as the saying goes.

You've never ever held savings in fiat? Yup of course you have so scratch the first limitless supply lie.

So you personally know and have analysed the intelligence of at least 99% of all DAO investors and asked them all what does DAO mean. Nope didn't think so.

Why were you forced to buy then sell them, most of all for a loss? Sounds like you're tarded.

ethereum has a developer with a very huge stash of coins who stop at nothing to dump his coins at the best opportunity.

how can this be good for anything!

I mine Ethereum with GPU, then I sell Ethereum to buy bitcoin and use bitcoin. So that will increase the value of bitcoin.

It kind of increases the value of Bitcoin, hypothetically speaking there is a net zero change to the value of Bitcoin through your transactions, assuming the perceived value of Bitcoin by everyone in your example is the same and everyone moves it in the same way.

You are increasing your personal value, don't get me wrong, but like 80% of people here, our transactions don't really mean much on the big picture and thus we don't really impact the value. If I was to liquidate the amount of Bitcoin I have tucked away, chances are I wouldn't change the value of  Bitcoin by more than a cent.

i don't get why ethereum tries to stick itself with bitcoin all the time!

it is just an altcoin which is being pump and dumped, just try to enjoy the ride to the top and get out before it is late.

I mine Ethereum instead of bitcoin is that my electricity price is too high. It is not profitable to mine the bitcoin directly.

I think all alt coins are here to promote bitcoins. I believe there is enough place for any coin. First and most important thing is to not be scam coin, to be trustworthy and to have good team behind.

Please join hands around the campfire while we all sing Kumbaya!

And they lived happily ever after.

until one coin got suddenly raped and beaten to a bloody pulp in this zero sum game

It's seen it's top.

Yes, I also think that Ethereum is good for Bitcoin. I hope it will spread in the next months and years.

Fuckin' spammer.

I've read quite a couple of Ethereum news posts from when it used to be $1.  If the price of Ether keeps rising, we may even break even earlier and make much more profit. Worth a shot but for me; i'll watch behind the scenes observing its rise.

I'm not sure it is good for btc from a price perspective if eth keeps rising and gaining traction. It must be making big btc holders sweat just a little. If eth reaches a high enough price point to trigger a capitulation where everyone starts panic buying eth and dumping btc, that's not exactly good news for btc.

Let's hope btc remains solid as it did in the past.

There is limited amount of money in the crypto currency. So for every new coin, it will dilute the funds into bitcoin.

Most of the new coins are scams or of little usage. They will die and the money  will flow back to bitcoin again.

The Ethereum is in some trouble at the moment. I hope it will recover from the recent crisis. It is quite unique coin.

Many people mine the Ethereum and sell it for the bitcoin. If its price drops too much, they will get less bitcoin.

At the moment, the volume of the Ethereum and its Class version is very large. It seems people are selling bitcoin to get those.

The volume of the ETC and ETH has reduced in the last few days. The combined volume is just 40,000 now.

The difference between BTC and ETH is that BTC did never fork over money being stolen, so now thanks to ETH we know we never have to put money on that thing if we want an immutable, stable chain that is not prone to hard forks all the time.

I think differently. If the ETH hard fork because the money is stolen, I will think that my funds is safe in ETH.

That is right. But in the future, the ETH will become PoS. It is more difficult to do this kind of hard fork in the future.

After the PoS, there will be no controversial hardforks. Otherwise it will definately create more Ethereums.