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Question: Comparing the two top coins by market cap, which one has more penetrating power into mainstream economy?
Bitcoin as a store of value and a currency touted to be the digital-gold of the internet 3.0 economy. - 7 (87.5%)
Ethereum as a dApp enabler ushering in a new age of internet economy and advance data manipulation. - 1 (12.5%)
Total Voters: 8

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Author Topic: Revolution of the Digital Economy: Bitcoin, Ethereum and Others...  (Read 104 times)
olumyd
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June 16, 2018, 12:22:22 PM
 #21

Bitcoin is king. Bitcoin will remain king.

However, I think bitcoiners drastically underestimate the staying power of altcoins like ETH. A lot of them see things in black-and-white terms, as if BTC must be "the last one standing." I think altcoins are rather much more complementary to Bitcoin than that.

There isn't only one way to use decentralization in search of monetary sovereignty (and beyond, as new use cases emerge). There may be a best way and I think BTC will continue to follow that path, slowly but surely.

Bitcoin has over 100,000 merchants accepting it, how many Etherum currently has. It's what matters, the adoption of the currency. Most of the Ethereum popularity is due to ICO/ERC20. Sure there are some altcoins complementary to Bitcoin, I am thinking about privacy coins like
Zencash, Monero, Cloakcoin and so on...; but how many are useless and don't bring something new.
I'm joining @RichardNY opinion about the hype on ICOs

to be fair bitcoin is a currency (it is designed to be one) so it has merchant adoption. ethereum is NOT a currency, instead it is designed to be a token so it must not have any merchant adoption at all!
the usage of it is for smart contracts, now the question is which one of these thousands of smart contracts (ICOs) that have been created in the past couple of years have actually done something? the answer is 0. they all have been useless. they create some imaginary problem and then pretend to fix it.

I quite disagree a little on this part:

Quote
ethereum is NOT a currency, instead it is designed to be a token so it must not have any merchant adoption at all!

If Ethereum is essentially a smart contract based ecosystem, there are many merchants that can make do with the protocol and become a more refined business in the new economic era. Ethereum may not have been designed to be a digital currency like bitcoin, but it should have prevailing usage in an ideal community that's dependent on blockchain products.

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