ETH is good for BTC

[Tusk]

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. 

[tntdgcr]

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.

[Kprawn]

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.  

[n691309]

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.

[Tusk]

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! 

[darcycooper]

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.

[LiteCoinGuy]

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  

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

[Tusk]

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.

[dumbfbrankings]

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.

[GreenBits]

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.

[calkob]

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. 

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

[tyz]

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.

[MingLee]

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.

[LCSociety]

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

[Za1n]

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  

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

The limitless supply is killer for me on Eth (I will probably mine it though) and lisk seems like it is built for corruption (101 members pick the rules and can vote out others), I love NXT and wish it would shine a lot more, these crypto contracts are only boosting Bitcoin as well.

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.

[chek2fire]

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

[maokoto]

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.

[Yakamoto]

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.

[Rizky Aditya]

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.

[pooya87]

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 ) 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