Bitcoin Forum

⁠Ethereum is an attempt to solve Bitcoin’s limited functionality, according to Ethereum’s co-founder Vitalik Buterin

https://ct.com/7d3u

shitcoins like ethereum can't solve their own limited functionality and the backdoors they have let alone attempt at bigger more serious stuff that bitcoin is dealing with ;)

 ::) funny... That phrase made me smile. You couldn't wait to make an attack on vitalik coin  ;D

Well.. I don't see etheruem as shitcoin, maybe they have much happening around there platform that should be attended to, I can understand.

I mean, I'm pretty sure it was intended for bitcoin to have "limited functionality" and to be as simple as possible, for the devs to focus on one thing: bitcoin as a decentralized and sound money(instead of unnecessarily branching out manpower to other functionalities); and it obviously is working out well.

bitcoin does not have limited functionality. it has the functionality that it is supposed to have and it is fulfilling them as it is supposed to. saying otherwise is like saying "my vacuum cleaner has limited functionality because it doesn't also cook dinner for me"!

Limited functionality what does it mean
With sidechain bitcoin will have his smart contracts function
Now Ethereum is much more centralized than bitcoin
Bitcoin is much more secure than Ethereum
Until now it was not possible to for Ethereum any upgrade
Coming upgrade will only delay Ethereum main problem not solve it

That's what we called marketing strategy, of course, Vitalik Buterin says that for the sake of Ethereum to have mass adoption than Bitcoin. Because he is the co-founder of Ethereum, all his stated are all his opinion. We have our right how to analyze what he is saying(it is totally bullshit). Probably Ethereum has a potential of what had made on upgrading the system, but I personally give my full support on Bitcoin that I guess Ethereum can't surpass to Bitcoin even if have limited functionality but it is existed until now.

I think that is very true, because we know that ethereum has very good potential for developing as a substitute for bitcoin.

There is already plenty of Bitcoin forks that have faster transactions, lower fees and more of the other useful shit that still can't make those forks valuable.
Market cap of a  coin also depends on the maturity of the market and the number of current users.
The same situation is with gold. If no one used it as a store of value it's price could drop very fast.

Calling the #2 crypto a shitcoin? come on......

Just being objective here, what about that inflation bug in bitcoin that was luckily discovered by a bitcoin cash developer?   That could of spelled disaster for btc.

Are you actually trying to say that the forked versions of Bitcoin are more valuable than Bitcoin itself? Its stupid to even think of something like that.

Bitcoin is far superior in terms of every aspect when compared to all the forks and its popularity itself speaks volumes.

That's not true, there is more for Ethereum to achieve before it could be seen as a closed type to Bitcoin. Nothing will ever bring Ethereum to replace Bitcoin or even getten to the point that it comes on board to compliment Bitcoin. Bitcoin still dominate in market value, as remember that Bitcoin has over 52.1% dominance at the time of this post.

I have just explained why Bitcoin forks and other "Bitcoin killers"  do not really worth anything and you say that I'm stating absolutely opposite point.
Just read my comment once again and think about the meaning of the words you are reading.

I think we should not get into the comparing game or call these coins the other killer. For me both btc and eth are gems and im keeping both in my portfolio because i know both of them are real quality coins and over long term both will become very very expensive.

I think that's a false statement. Ethereum works and performs a completely different function.  Bitcoin cannot be replaced.

Buterin works hard to revive Ethereum. Frankly, I trust him too. Ethereum is still the strongest platform among its rivals. I can't trust EOS and other platform coins like ETH.

No doubt, Bitcoin will remain the far best cryptocurrency and will also solve some problems it has today. In Opposite, ETH has also some problems and the Devs have the knowledge to fix it, therefore ETH can stay at second position for sure and increase in price.

XRP on third position is way too overvalued and no danger for ETH.

Yes, they compare what is best not to compare. I do not understand the aggression of some speakers praising the conservative BTC against the background of a developing and functional ether.

Eth is still strong and this is one reason for the holders to stay afloat, we will see that Eth is worthy of accompanying bitcoin and valuable.

Well, now many are trying to solve the problems of the functionality of the ETH. This is not when technology will not stop developing further.

Ethereum have a very large potential and much depends on Ethereum in this market. I hope that he will be able to withstand this bear market and will prove its strength.

Maybe he's a bitcoin maximalist and thinks everything but bitcoin is a shitcoin. There are good altcoin projects and ETH brought to the space something that BTC wasn't giving. This is the reason for its popularity. There are coins that are expanding the space and giving something more like Monero with its privacy. The real shitcoins are coins that only leach popularity out of another coin without improving like BCH or BSV.

Well yea, that was my point. :P That bitcoin was made to be a product/project with a specific purpose(payments and SoV), rather than unnecessarily trying to do many things at once like other coins/tokens.

If the Altcoin doesn't exist, will Bitcoin die or not work. I think Bitcoin is still running even though there is no Altcoin. Bitcoin was born with a very good concept. Can function to make transactions with other objects at the USD exchange rate.

not only ethereum, some other altcoins like that. has an effort to replace the limited functional Bitcoin. Like BCH, BTG, waves, LTC. etc. but it won't be able to change bitcoin. because all of their technology is adopting Bitcoin technology. so he altcoin was born from the bitcoin network, namely blockchain.

Maximalists are mad that just because they're limiting their own coin, they think others should do the same. ETH is bravely pushing forward, and yes - it increases the chance of a disaster, but if one doesn't happen there's no reason why ETH shouldn't overtake a coin that provides less utility than itself.

Oh boy. Have you not heard of the DAO hack[1] and the parity lock[2]? I'm not a hater of ethereum, but long term? These few problems are just the tip of the iceberg.

---

[1] https://medium.com/@ogucluturk/the-dao-hack-explained-unfortunate-take-off-of-smart-contracts-2bd8c8db3562
[2] https://www.coindesk.com/ethereum-client-bug-freezes-user-funds-fallout-remains-uncertain

Let me laugh at what you said. Bitcoin is just lucky to be the first on the line that’s what it makes its price dominating and aside from that a lot of people are still confused using it. Ethereum transactions can be confirmed for only 20 seconds while BTC takes 10 minutes, so which is the best for you? lol

it can happen, starting from Etherum as the Smart contract ICO, which allows Etherum to be the main platform of the token tokens. and maybe it could be a platform for a product in the future. we just wait for the development of this etherum.

Every alternative projects are also aiming doing the same, not alone and limited with ETH, as dealing with bitcoin as the based crypto every project
needs to bring something new and improvements with what bitcoin already delivers, let it be if that's the reality but competitions along with many
promising projects will be the questions of such success.

ETH always tailing bitcoin, improvements and other functionalities will change the tempo of success.

You do realize that speed isn't the only benchmark right? You're ignoring decentralization and actual security. If speed is the only thing you're going to look at anyway, then go use PayPal. Also taking note that Ether isn't even actually made for payments so ETH and BTC aren't even direct competitors.

Indeed Vitalik strives to be able to complete the boundary function and this is a good thing and we must support the development of crypto in the future. If bitcoin does not yet provide security limits, Eth will endeavor to do so. We will see whether Vitalik's efforts will succeed and crypto will be bright in the future. So the bitcoin journey will go hand in hand with Eth to develop together.

Indeed, ethereum foundation is looking for the new developers to create the next development and research for ethereum. we know that ethereum tries so many things that getting plagiarized by another platform.

Yes, it could be true, because we also cannot predict it in the future, but I believe that in the future ethereum will develop better and more supporters will come to this coin

i don't believe on it since bitcoin still have more support than ETH. But yes ethereum still have a power to recover as we noticed previously during the bump of price which is it has a big average than bitcoin .but for me even though the potential is higher there's always no tends for it to replace bitcoin and it will remain second option .

Never think about technology behind Ethereum. But as long it can make people buy it, i will still hold. For crypto i am actually never think about technology behind it. So i just do like what traders do.

Shitcoin or not, it helped cryptocurrency adoption to some extent, no ethereum, no ICOs, no developments in cryptocurrency world (ICOs helped whether you believe it or not).

But ethereum is not a currency whereas bitcoin is. When these are all 2 complete different thing, how one could solve the other's limited functionality ? Even there will be a possibility for that, I could not understand why not bitcoin can do that with another BIP enhancement ? I mean if there will be a solution for bitcoin's issue then within bitcoin itself devs will implement that and no need of ethereum to be a test-rat here.

ICO is here before ethereum was announced. All altcoins are doing the work of promotions of cryptos to new people hence there will be no surprises ethereum too joining that big list. The hard pumps etehreum is the only differences from rest of altcoins.

You are right, even the other Alts have potential to replace the functional Bitcoin. If we compare with BTC then these Alts will not be a real competitor without any doubt when it's comes to functioning and I hope ETH is focussing on its new development  to beat BTC.

What you mean ?

Is not right i think, Ethereum is good Coin yes that is right.
But, limited Bitcoin supply is something that make BTC is greatest than other coin.

Average block times in ethereum have dropped to their lowest level ever at just 12.5 seconds, down from 21 seconds per block.

https://www.trustnodes.com/2019/03/03/ethereum-blocks-drop-to-12-seconds

https://www.trustnodes.com/wp-content/uploads/2019/03/eth-stats-march-3-2019-1175x500.png

https://www.trustnodes.com/wp-content/uploads/2019/03/ethereum-block-times-march-3-2019.png

https://www.trustnodes.com/wp-content/uploads/2019/03/ethereum-network-hashrate-march-3-2019.png

https://www.trustnodes.com/wp-content/uploads/2019/03/ethereum-daily-block-rewards-march-3-2019.png

I agree with that, ETH has been helping the market to grow.
Because of successful ICO we have seen an increase of overall marketcap and it introduce as to the new project that are still here now in the market.
Maybe Vitalik has been bias with his statement because every founder would also praise their own before the other, so nothing is wrong with that.

There are a lot of incredible projets that are trying to pick up what Bitcoin wasn't able to achieve. Ampleforth is another really cool project that talks about that too in their white paper: https://www.ampleforth.org/paper/

Sounds funny to me. Bitcoin remains king, no coin should ever solves the lags, they can only do that on whitepaper but never practical. In essence, ETH is great but it's not solving any BTC drawbacks so far. Just my observations.

Bitcoin cannot solve problems made by central systems but ETH is now able to handle transactions after this fork that made network more faster. Vitalik and other ETH devs already made all necessary changes to ETH blockchain.

Exactly, what makes other people think that Bitcoin have limited function is because they want or expect something more than Bitcoin is supposed to be. Those that are mentioned by Buterin are just a prospected progress that can be made possible with Bitcoin.

Its hard for ethereum to replace bitcoin place because bitcoin is king in cryptocurrency. Ethereum is good coin for bussiness because smart contract but bitcoin still favorite coin because people think its digital gold

I think so, as Ethereum is being overrun by crypto kitties. Basically a killer app that has exposed the low capabilities of the network and has created a massive backlog in transactions. They have put in some small fixes in place but they are bandaids. More likely the technology to replace BTC will be one that can support several orders of magnitude more transactions per second. I have my eye on BTS which uses Delegated Proof of Stake and has been sustaining the most transactions per second out of all the currencies. Handling up to 100,000 Transactions per second whereas BTC and ETH are below 50. Just my two cents on this. Better get going as I resume my live poker (https://to.crwd.cr/smtm) sessions. Best of luck!

As expected after the hardfork, now we are slowly realizing the effect of the hardfork.
Maybe this is the real goal since bitcoin can't do everything. ETH has a good blockchain technology, I expect a more expensive price with ETH in the future. The transactions will get more faster as ETH starts this kind of development.

Well, I guess yes? If that so, we have no need to support any cryptocurrency related to bitcoin which are what they've said, the upgrade of bitcoin which are bitcoin cash, bitcoin cash SV, bitcoin cash ABC. Ethereum is enough as an alternative crypto.

Ethereum can't cover the breaks of bitcoin and blockchain. It is another notion for dragging ERC20 token based projects to a new network and it has big potential. Every coin has its own use and meaning. Why do users keep comparing the different versions of various projects?

that is absolutely true and it is a very good idea from the founder of ethereum, and I strongly believe that ethereum will be able to replace bitcoin.

Vitalik is an amazing man and if he says so, I believe him. However, for Ethereum to overtake Bitcoin in this technological race, there must be something more. Although it may succeed, but for sure not in next year or two..

I do not know yet can be confirmed about this whether ethereum can replace the position of bitcoin or not for the future, bitcoin is the top coin in crypto and until now there has not been any coin that shifts its popularity, bitcoin is too strong to defeat

Will ethereum could back to higher price where last two year ethereum could raised to higher price about USD 1,5000 and how long waiting for ethereum could raised on higher price again, does needed bitcoin raise to higher price too.

Bitcoin will still be the king of Cryptocurrency and this will last a long time. Bitcoin and Ethereum are of course very different coins. And both of these coins have different advantages and disadvantages. I am sure if Ethereum will continue to be under Bitcoin, even though the XRP also has a great chance of passing Ethereum.

ethereum is ethereum.. whether the founder says it could solve bitcoins limited functionality they have different purpose.. for the top crypto currency no one can replace bitcoin

Can you compare Google and Microsoft Office? OR Adobe Photoshop and Amazon? No !!
It’s the same with Bitcoin and Ethereum, they are developed keeping in mind to solve totally different problems. Stop considering one as superior to other.

Love both!!

Ethereum may not be able to complete the limited functionality of Bitcoin because Bitcoin is far better than Ethereum, Ethereum is still Ethereum and every coin has its own purpose. all Altcoin depends on Bitcoin and Ethereum will also follow.
 

you should not confuse bugs in the protocol with bugs in an implementation software. the bug you are referring to was a bug in bitcoin core which is an implementation of bitcoin's protocol. the protocol itself has no bugs, the software can have lots of bugs.
when you compare it with ethereum, it has lots of "protocol" bugs and exploits and that is what makes it a shitcoin. not to mention that its centralization is also another reason for making it a shitcoin.

There is a pressing need for ethereum to put a formal cap on it's supply. The 120m figure they are discussing should have been implemented in their hardfork so they don't need to hardfork again in future

Both of them do have different functions and want to achieve the same goal, so bitcoin and Eth will still be coins that are side by side and complementary. Alternative coins that will be able to reach the point of bitcoin and have functions that may not be solved but still provide convenience.

Wow you're accusing eth being a shitcoin. Can you make a decent project? It's easy for you to say but eth doing their topnotch effort yo solve the flaws of their own system. See the update on the upgrade? Better to shut it and just watch how they can solve stuff.

I think it's shortsighted to label everything that isn't BTC as a shitcoin - it's just not true.
Bitcoin is great, but it's not a one-stop-shop to solve every problem in the world. ETH is a better choice for smart contracts, XRP is a better choice for fast payments, etc etc. I love Bitcoin, but it's not like there's no room for other coins offering different functionality A coin that is targeted towards one solution will likely perform it better than something that tries to solve everything at the same time.

Ethereum is ethereum no matter what though it has some limitations. However, its the second popular coin after bitcoin. Ethereum is a great coin and has a potential of rising in the future. I love both..

I think that to some extent Ethereum was a successful attempt to expand the functionality of Bitcoin and became a breakthrough for the emergence of new coins in the market. But Bitcoin has unlimited authority and power in the cryptocurrency market and is the main asset for most crypto investors.

I know , some of these bitcoin maximalists are going overboard and declaring everything that isn't bitcoin to be a scam.  They like to forget about those 1 million coins by satoshi that are essentially a premine.  There is room for multiple currencies to grow and the communities shouldn't be battling against each other.

I think to some extent, ethereum has been successful in cryptocurrency after bitcoin. Ethereum has been the second most popular cryptocurrency taking after bitcoin. It has the potential of becoming great coin in the future.

Of course , it is already a great coin on the market, compared to other coins Ethereum has a very large capitalization and is higher by 2 higher and milliard !

Then why have they not overthrown BTC, after all bitcoin has already done the major work of introducing the world at large to crypto currency, so it won’t be like when bitcoin first started that took so long before they started seeing the benefits of it and also adopting it.

Ethereum is no longer a new coin and I believe they ought to have worked harder to gain more relevance if the so called copartner claim they have solution to bitcoin limited functionalities which I am yet to see how BTC can be compared  to ETH.

According to my analysis (ETH) ethereum and bitcoin are crypto the most popular and sought after by many people, especially fans. But I don't understand if it has to be said '' an attempt to complete the Bitcoin limited function ''. For me this is different, and has its own functions.

Ethereum is not a shit coin per say. Its more like Ethereum blockchain is the playground for shitcoins. That said, Ethereum is a very convenient utility coin that can host all kinds of coin projects. Can't blame Eth if the projects turn out it be shit in the end. Ethereum has served its purpose.

I agree with this, both has their own goals and functions as per se. Bitcoin would always be the best payment option for crypto's and it's faster and cheaper today but there are people that wanted to pay with some other ways of paying such as ethereum and wants to create their projects through it.

I think such innovations will make a new project that will enhance the functionality and value of the ethereum. During this may remain the idol is bitcoin because may be the value of the community and yet there is a outmatch digital assets.

true bitcoin is the parent of all coins and is very unlikely to be replaced especially by ethereum we know bitcoin is the world's first digital coin initiator so, the role of bitcoin for others is also a big thing so it can't arbitrarily replace it,
And the coin system is very different they have their own working techniques.

Everything that's on the crypto market is no match for bitcoin. With ethereum, projects through it are keep coming and being created as a result of ERC20 token. And those coins are contributing to ETH's growth, they are lesser last and for this year but we'll see it grow later on.

Ethereum can not be compared with bitcoin they have their respective functions, the definite second coin is ethereum and bitcoin is the best coin in crypto and coin which is the most potential to be made an investment

Ethereum has its own standpoint no matter what happens, and many also use their platform like a smart contract to make tokens so they will still stand up and move forward.

I think with the incorporation of the smart contract functionality in the Ethereum blockchain, it's an improvement of the bitcoin protocol,this is a welcome development to the cryptocurrency community

I think that Altcoin is one of the best coins in the cryptocurrency market and you can have some good profits in it as well but it does not prove the allegation of “Bitcoin being a dysfunctional currency”. Had it been dysfunctional in the crypto market, it would not have been use so widely in leading markets like the European and American.

It is currently the top coin in the cryptocurrency market. So ETH or ripple cannot replace them and this is for sure.

Eth will be growing with fascinating speed soon!

You need to accumulate Ethereum as much as possible now. Here is an interesting way of getting free ETH (not mining, not faucet): https://bitcointalk.org/index.php?topic=5073932.0

I have big hopes for this coin, because in my opinion ETH is the most undervalued coin at the moment and it does worth to be on the top of crypto currencies market. We need to give the devs some time to improve it.

I would agree with that, ETH has been giving us a very useful platform, business can easily build under it's platform and with the number of ICO's in the past who are using ETH, this should not be valued at this current rate right now.

A 50% decrease in value from ATH is acceptable but the current value is so undervalued.

In fact ETH is no longer as great as it used to be, there are now many altcoin growing and developing strongly. ETH is in danger of collapsing and other altcoin will take the No. 2 position of ETH soon, EOS, BNB, NEO .. are the biggest competitors of ETH today

Probably ETH looks shitcoin to him because he doesn’t have enough money to buy it so he wants to join the group of people that wants to bring the price down by filling the market with negative news about it in order to bush it more deep into bearish market for them to acquire more.

He doesn’t even understand the world shitcoin coin as used by him because if he does, he will understand that ETH is the second most accepted coin in the world or crypto currency as far as this time is concerned.

Regardless of everyone is agreeing or not, ethereum is having one real time application. Even it is not a new thing, it had attracted many ICO operators and got price levels beyond $1000 also at some point of time. When comparing what most other altcoins had done in the past and what they are doing right now, it would be too hard to call that ethereum as a shitcoin as we have seen and experienced thousands of real shitcoins in this one decade of time.

Lol, what do you mean not great. ETH is still the go to coins as far as investing in ICO and I haven't seen any projects accepting any other coins besides BTC and ETH. What you are seeing like BNB is the usual pump and dump coins, NEO and EOS are good but they haven't reached what ETH have done and doesn't have the support of altcoins community in general. We're in the bear market that's why you said that there are competitions. Wait for the bull run and see how ETH will left that competition behind.

ETH cannot be overestimated, since it effectively develops the entire cryptoindustry, being the most important tool for a business in crypto. And Bitcoin, as the founder, serves as a definite guarantor between the crypto-world and the world of fiat money.

After the access to trillion dollar marketcap we can talk about the potential altcoins that can reach to the point of ETH and Bitcoin. Kind missed part of the puzzle will be found but which coins will fill it is under the question.

We'll see. At present anything is in standby, waiting for the next rush. Up or down...

Actually not with the debate to judge one of the altcoins, the important thing is that we all support the existing project or development. I am sure all projects must have the same ideals, namely success. And ethereum has proved very successful. Thanks

You know, perhaps I agree in Vitalik Buterin. What does Bitcoin have and what it doesn’t have when compared to Etherium? Obviously, Bitcoin is just a top cryptocurrency that does not have an ecosystem on which platforms, services and applications for the development of blockchain technology would be created, and ETH has it all. In other words, Bitcoin really has limited functionality, since it performs only one role, when ETH performs the same role as Bitcoin and many other roles. The only way Bitcoin differs from ETH and this is its advantage is that Bitcoin is the number one cryptocurrency and it costs more than ETH. So in the words of Vitalik Buterin there is a sense.

I think eth is one of those coins in which the product will always work, the more now comes the time ieo I think it will strengthen the price of eth even higher !

Etherum does not have many fans with surprises me abit
I wonder why so many antagonist; but etherum is doing well and also a perfect role model that eos etc and even tron has tried to overtake

Right, the most crypto that getting big support after bitcoin is ethereum. So many app, web and/or extension who provide free service for making his wallet. This is nothing but, a sign of their trust in eth, because of that so much support gained.

Ethereum has a simpler structure. It was created as an alternative coin. It is also still the second most important coin.

i dont think so, but maybe if it happen, it will be around 5-10 year for eth can surpass btc, but as we all know, everything was possible in crypto.

I like your post because this makes sense, I don't know what limited functionality he is talking about, because Ethereum does not have chargeback features that Bitcoin does not have also have, for me Bitcoin has complete functionality the fact is now widely adopted.

Vitalik knows what he is talking about but I cannot comment on that.
I hope ETH will sort out it`s own issues with scaling and will have faster transactions without congestion in the future.  :( :(

The main Altcoin because it has extraordinary abilities and many of us who believe if he is able to grow well and in the future he will be profitable.
ETH is the best altcoin and he is very popular, so he can get up and be taller.

I know so well that the ethereum blockchain has a lot of flaws, but I don't think because of the flaws we have in ethereum it is worth calling it a shitcoin, you need to understand what is actually referred to shitcoin and not just calling any coin because of some little challenges shitcoin.

A coin is referred to shitcoin if the coin has no form of value in the market and would never have a value because the project most of the time has been abandoned by the team behind this project which is not the case for eth. I do see many people are hating altcoins like litecoin and now etheretum for no reason but I assume this is due to for imagining like a rival for the growth of bitcoins but actually the truth is complete different one.

I think that at the moment scaling is not the main problem of Ethereum. I think that based on the Ethereum problem, few people use decentralized applications.

Isn't this what you hear about every coin like this? The idea of such altcoins are very similar and the main principle is the same - to solve Bitcoin’s limited functionality :)

The Ethereum project deserves attention, I consider it one of the most interesting in terms of long-term investments, the team is constantly working to improve, ETH expects great demand and success.

ethereum always good for long-term investment. but now unfortunately ethereum still hasn't grown for a long time. market etheruem still the same silent and there is no change, although trading remains transactions each day.

True but i believe in ethereum, i'm sure ethereum price can increase so high, maybe not now but in the future. I'm holding some Ethereums too in my wallet. Just think it as long term investment like gold, you might get a huge profit someday maybe in 1-3 years.

I believe ethereum is still a strong altcoin after bitcoin which is also popular and has a great potential in the future. I think it has a long way to go in cryptocurrency industry and its not going to die off anytime soon.

There is are still some shortcomings on the platform of ethereum that need to be solved.
Well, I have no doubt if ethereum is better than bitcoin some areas, such as the transaction per second and some other aspects. Nonetheless, ethereum still need some refurbishment.