Bitcoin Forum

This question belong to the Bitcoin discussion because It's mostly for the bitcoiners but feel free to move it If you think It shouldn't be here.

As we can see, Ethereum is increasing rapidly, some might say that the market cap means absolutely nothing as It's based on supply and Ether supply is bigger then bitcoin supply, or the demand is simply increasing because of the ICOs that only accepts ETH as a payment method, others might disagree with all of the above. The question now, do you believe that both BTC and ETH can co-exist or people would switch to ETH If bitcoin ever becomes #2 on CoinMarketCap?

Ethereum and Bitcoin are two very different things. ETH just acts as a way to get the smart contracts going. This has a lot of dangers if you want to treat it as a store of value, because all those smart contracts are like ticking timebombs waiting to happen.


On the other hand Bitcoin is a simple mechanism more solid to store money for years.

I will considered Ethereum as one of the main crypto if ever there will be lots of usage of it. ETH roles is still for profit taking. Bitcoin back in $200 price are being used not just for trades but for various purposes.

About the question, yes it can co-exist and I see no reason that majority people would switch to ETH "easily". I doubt once bitcoin scaling problem will be solved or at least have some developments, people will continue to use bitcoin for general purposes. And hey we can make good profits out of both so they should co-exist.

Well, let's evaluate their characteristics:

Bitcoin - long-term security/code, making fatal bugs and other major issues unlikely.  High fees, making it incapable of smaller transactions (for now).  Great for big transactions and safer businesses.

Ethereum - shorter-term support which grew extremely suddenly, making major issues more likely but still not particularly.  Implements smart contracts, and is good as a platform for other cryptocurrency tokens to be created.

The reason that ETH is mainly just a platform for smart contracts is because the fees are also high, just lower than Bitcoin, and it's currently not scalable (plus the centralisation problem, which makes innovation potentially compromise security).  If a cryptocurrency were to replace Bitcoin so to speak, it would be one that actually has low fees.

I don't see why they can't work together since they both offer fundamentally different things. I think people are buying ETH for ETH's sake not because they don't want to hold bitcoin anymore and while it may surpas bitcoin it won't be because they can't survive together.

I don't think that both can co-exit in a "peaceful" manner. Because if Ethereum attracts more number of users and investment, it is definitely going to be detrimental to the future of Bitcoin. Both the currencies serve the same purpose, although the technology behind them may be different. The main application is in the transfer of money and in making payments. Here, both of them are competitors.

Exactly. Bitcoin serves a different purpose and I don't see why they can't coexist.

Yes, they serve different purposes. Bitcoin can essentially replace all savings accounts whereas Ethereum is for smart contracts and hence can replace traditional contract forms.

Dont get caught up in seeing them both simply as a coin for investment, you have to look at the bigger picture.

^^ This exactly. This aint he lord of the rings there is no one coin to rule them all and though I think many coins and tokens will die there will still be a huge load once the dust settles that will thrive and grow stronger including bitcoin and ethereum.

Regulate ICO market or remove ETH as one of payment methods and we will have ETH collapse. Ethereum is good smart contract platform attached to mediocre economy system.
Centrally controlled coin which can can be shaped to whatever Vitalik would like to do with it. Recently Vitalik and Putin had a meeting.
I wouldn't be surprised by the fact that Russia will chose to endorse ETH instead of BTC just because this coin can be controlled on higher level than BTC.

I said no. Because Btc, cryptocurrency while Eth is Smart Contract.

But it seems that both have the same problem as the problem with the transaction.
Both will not be together.

Market cap matters but as long as people will try to compare pears and apples they won't understand that Bitcoin and Ethereum can coexist just the way Volkswagen and Microsoft do. They coexist because they don't share the same market. Amazing, right?

I get what you wish to say, but can you explain why this smart contracts hide a lot of dangers, why they are like ticking time bombs?

I`m a bitcoin user, and I was here when story about eth started, I missed it and I never bought some eth, mistake or not, simply I told myself you are late and put eth on a side. Bitcoin is more solid why? I saw thread that eth is new bitcoin, and how eth is better in some things then bitcoin, market cap, trading volume are almost the same, but what that actually means? Thanks for answers.

I think both will co-exist and is a gold of crypto

As we all see they do it, and they do it well. they are even growing and falling together. Bitcoin and Ethereum offer different advantages, and I suppose both of them should be used by anyone, who deals with crypto.

Bitcoin and Ethereum can exist independently or co-exist because they are two different projects with different visions.Ethereum is based on smart contracts and Bitcoin is used for online payments and a lot of people invest in both daily.  :)

Bitcoin and ethereum now co-exist and will coexist in the future. They perform completely different functions and therefore can work together peacefully, even complementing each other in some way. Both coins have their advantages and disadvantages, including a general lack of low scalability. Everything will depend on the direction in which their further development will take place.