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Author Topic: three questions about Bitcoin, Ethereum, and Central Banks  (Read 737 times)
r1973
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May 29, 2017, 11:54:41 AM
 #1

I am pro bitcoin fan since 2013. Recently I became a little worried.   

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?

2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?

3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?
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May 29, 2017, 12:01:35 PM
 #2

I am pro bitcoin fan since 2013. Recently I became a little worried.   

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?

2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?

3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?

How can you even compare the two, one who gave up his identity for the Bitcoin to prosper, so that it may never loose it's core values and he made the coin bigger than him, for me both are different and they can't be compared.

ETHERUM is a Alt and it always will be alt for me, we'll it's good to see its doing well but I will prefer only to stick to Bitcoin and I don't feel it shall take over bitcoins.

Well the banks are not that stupid to burn cash, instead they are now syncing in with the Bitcoin and acting as wallets, many are now offering this, there are some threads out here you can search and read about this.

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r1973
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May 29, 2017, 12:19:47 PM
 #3

I am pro bitcoin fan since 2013. Recently I became a little worried.  

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?

2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?

3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?

How can you even compare the two, one who gave up his identity for the Bitcoin to prosper, so that it may never loose it's core values and he made the coin bigger than him, for me both are different and they can't be compared.

ETHERUM is a Alt and it always will be alt for me, we'll it's good to see its doing well but I will prefer only to stick to Bitcoin and I don't feel it shall take over bitcoins.

Well the banks are not that stupid to burn cash, instead they are now syncing in with the Bitcoin and acting as wallets, many are now offering this, there are some threads out here you can search and read about this.

ETHERUM might be an Alt but with a better management - see the Bitcoin Segwit saga becasue of one person - Jihan Wu. F**k!
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May 29, 2017, 01:13:26 PM
 #4

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?
absolutely not. because Satoshi Nakamoto's goal was to create a decentralized peer to peer currency which works only as that, not for profit making or anything like that.
Vitalic Buterin is a kid looking to make money, and it has always been like this. what he created was a centralized cash machine to make him and his investors richer.

and maybe the reason why Satoshi is not around is this:
Quote from: Satoshi
The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.

Quote
2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?
yes it can and it will. because market cap is a simple multiplication of meaningless numbers. and while bitcoin has a perfectly logical creation rate, there is a 15-16 times faster token creation rate in ETH and also when there is a fixed cap of 21 million coins for bitcoin there is no max cap for ethereum and it will continue creating new tokens at a fast speed.

bitcoin market cap = fixed supply * price (rising based on demand)
ethereum market cap = ever growing supply with no max * price (either rising with pump or even if it falls the supply will cover it)

you saying ETH marketcap is bigger than bitcoin's because of better management nullifies your first statement of being a bitcoin fan. you don't even understand how things work my friend.

Quote
3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?
such a hypothetical scenario will first crash the world economy because they are printing unlimited amount of cash!
secondly at worst it can only crash bitcoin price not the system.

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May 29, 2017, 01:49:14 PM
 #5

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?
The difference is that Satoshi created a peer-to-peer digital cash system, while Buterin utilised smart contracts to create wider blockchain applications.  ETH is centralised in terms of development.  Active development without controversy from different devs = centralisation.  ETC could potentially be a competitor so to speak, but smart contracts could potentially be integrated into Bitcoin anyway like Rootstock devs have proposed.
Quote
2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?
If it did, it wouldn't matter.  They have different niches and the market cap is not an indicator of usage or even total value.  Regardless, it's unlikely.
Quote
3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?
No, but what they could do is work with altcoins like Ethereum and Ripple, which they're already doing.  That's what happens when a cryptocurrency is centralised.

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May 29, 2017, 01:52:42 PM
 #6

anyone with brains does not care about the market cap.

all that matters is utility.
what people should be looking at is suggestions of say bitpay/coinbase stop allowing bitcoin to be used through the merchant shopping cart API and instead eth or LTC becoming the merchant shopping cart accepted currency of bitpay/coinbase

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May 29, 2017, 02:52:22 PM
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I care so much for Bitcoin, that this makes me worried sometimes, not wishing it not to loose it's brand name as #1 crypto forever...
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May 29, 2017, 03:01:48 PM
 #8

I am pro bitcoin fan since 2013. Recently I became a little worried.   

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?

2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?

3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?

not comparable for me, oen made the greatest crypto other made the greater clone of bitcoin, second question i'm not sure, but i don't think bitcoin can be taken down by another currency, i see more probability if they work together, and buterin is pro bitcoin, he never wanted ETH to take bitcoin place, for the last question, i think if the central bank start buying the price will go very high, and after the dump the price would still be far higher than when they bought first
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May 29, 2017, 03:07:28 PM
 #9

I care so much for Bitcoin, that this makes me worried sometimes, not wishing it not to loose it's brand name as #1 crypto forever...

you shouldn't really worry about a centralized dabs platfrom which is not even a currency even being able to compete with bitcoin which is a decentralized currency.

it is like saying i am worried apples are going to replace oranges.

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May 29, 2017, 03:11:17 PM
 #10

There is no reason to get worried, eth has got good management to give competence. So bitcoin can grow better competing with it. When talked about central banks they don't have any ethics but they will serve as the primary currency and might print currency without any limitations same as that China did when it is under crisis.

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May 29, 2017, 03:33:04 PM
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I believe cant compare the first person wich created bitcoin, and then another person wich just made a better or without less stress coin, but in the general all coins are based into bitcoin. Market cap doesnt mean anything, others altcoins can even cross bitcoin, last time i remember  ripple were very close to reach those, but dont forget bitcoin halving and potencial, and where the big and most money is invested is at bitcoin, altcoins are used to get extra bitcoins at this stage, all altcoins traded against bitcoin.
Central banks cant print unlimited money because it will affect the economy, otherwise those were already been made, more coin into circulation means less value.

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May 29, 2017, 03:34:36 PM
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I am pro bitcoin fan since 2013. Recently I became a little worried.   

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?

2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?

3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?

1. Vitalik Buterin is not like Satoshi Nakamoto because he is not anonymous, also Satoshi would have never asked to the exchanges to stop all trading because of the DAO disaster to avoid panic selling, that was ridiculous.

2. I don't think so, maybe if Jihad keeps keeping bitcoin hostage thanks to the ASICBOOST exploit and users are too much of a pussy to UASF.

3. Banks buying BTC would skyrocket the price... that's all. Existing whales will always be bigger.

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May 29, 2017, 03:52:07 PM
 #13

1. Bitcoin and Ethereum are made for different purpose and they will always have their own role to play in the cryptocurrency market. I believe in Bitcoin but I also believe that Ethereum has a good future and this is also worth putting our money with. Well, had Satoshi decided to stay and not disappeared then maybe he can be a blessing to Bitcoin rather than a curse.

3. Banks understand that if they keep printing money without thinking hard (they called it as quantitative easing) then they run into the probability of higher inflation and the currency has the risk of running amok beyond control. Therefore, the scenario you just painted may not be realistic at all.

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May 29, 2017, 03:53:55 PM
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I am pro bitcoin fan since 2013. Recently I became a little worried.   

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?

2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?

3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?

1. Do you prefer a company with the CEO with a name and a face or a CEO with a misterious person still now disappeared?

2. I Think that ETH will overtake BTC also for the possibilty of genertaing DAPPS with ETH. Have you seen how many new DAPPS there are in State of Daps?

3. Central banks are perhaps the cause of Bitcoin and Alcoin's market cap collapse. But in my opinion they do this because they are scared and are trying to frighten small traders until the market cap is not too high and therefore difficult to control by the same banks.
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May 29, 2017, 04:03:37 PM
 #15

I am pro bitcoin fan since 2013. Recently I became a little worried.   

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?

2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?

3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?

1. Do you prefer a company with the CEO with a name and a face or a CEO with a misterious person still now disappeared?

2. I Think that ETH will overtake BTC also for the possibilty of genertaing DAPPS with ETH. Have you seen how many new DAPPS there are in State of Daps?

3. Central banks are perhaps the cause of Bitcoin and Alcoin's market cap collapse. But in my opinion they do this because they are scared and are trying to frighten small traders until the market cap is not too high and therefore difficult to control by the same banks.

did you just make this account to post this Cheesy
1. bitcoin is not a company, it is a decentralized currency. and it is open source, you don't need to know who created it and why should you even care!

2. there are many of them because the scammers find it much easier to make a DAPPS with ethereum than to start from scratch and make money. and as i said above these two have nothing in common so overtake is a meaningless word here.

3. there is no collapse! bitcoin has risen about 90% this year. that is a big ass rise not a collapse.
what you see is the collapse of yet again over pumped altcoins which are getting dumped by their pump groups.

danherbias07
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May 29, 2017, 04:11:54 PM
 #16

The third part. That will create chaos in the fiat system.
They cant just bloat rhe paper money just to equal the system or maybe create abpanic which could not happen easily.
Example if they did create a lot of USD. UN will be alarmed by this and more countries will not allow that to happen.
If they do, their own country could end up at the bottom. They fought for that top rank and will just end up wasted in one bad decision.

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May 29, 2017, 07:04:43 PM
 #17

I think that Bitcoin today lacks a profound noble leader like Vitalic is for ETH. Gavin filled Satoshi's role until maybe two years ago - but since he left the stage, no one else has replaced that important role, and "we" are left with a group of unknown programmers which supposed to be core-developers which might be unknown to 99% of the Bitcoin people, much less to the general public.  

With regard to the Central Banks hidden abilities and hidden agendas – they can secretly invest billions without the knowledge of the general public - only to sabotage their successor – sabotasing Bitcoin to not fulfilling its original goal, as written in the White Paper. These Banks leaders and law-makers of the FIAT currencies live in different world than we are  – and they do secretly damaging the consensus. (I have no prove of that, only my feeling).  

I think that Jihan Wu and his  bitcoin hostage ASICBOOST exploit is because of China's leaders, secret police and decision makers ordering him to do so... Jihan Wu is a Chinese puppet on strings, instructed to act as so (maybe he is an hostage himself as a metaphor – beacuse of the Chinese leaders themselves). The situation in the USA and worldwide is not better than China in terms of the FEDS and other Central Banks and their hidden abilities. There is a currency war worldwide - and bitcoin is also in the battle field.
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May 29, 2017, 07:15:40 PM
 #18

I am pro bitcoin fan since 2013. Recently I became a little worried.   

1. Can one compare Satoshi Nakamoto to Vitalic Buterin? The former disappeared in 2010,  the latter is here to stay, working hard with the the Enterprise Ethereum Alliance to become stronger?

2. Can ETH (market cap ~ 17 Bln, since 2015) overtake Bitcoin's market cap (~36 bln, since 2009) because of a better management and better technology i.e. the SegWit scalling saga which were  held back for 1.5 years becasue of one Chinese company?

3. Can central banks with their no-ethic (=the enemy) print unlimited amout of fiat, just to buy Bitcoins in order to later at the "right time" ignition a massive "panic"-sell in large numbers to crash the Bitcoin system again and again and again?
1. Satoshi was the original inventor of cryptocurrency Vitalik is merely following his footsteps. Think of this situation as Satoshi was the sun Vitalik is the moon.
Have you ever wondered what will happen when Vitalik will be out of the picture? You don't have to worry bout Bitcoin, because there is no one like Vitalik/Satoshi here.

2. Market cap is not that important parameter, yet it is for some reason the most used indicator of coin success. It shouldn't be.

3. They can't do that in secret, bitcoin is unregulated asset and most of money manager can't even touch bitcoin.
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