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Author Topic: What is the difference between Ethereum and Bitcoin?  (Read 129 times)
NOVL2
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July 18, 2018, 03:07:14 PM
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Unlike Bitcoin, the primary purpose of Ethereum isn’t to become an alternative to money or payments. Rather, its purpose is to pay for smart contracts, transaction fees, and other services on the Ethereum network.
Please expound.
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July 18, 2018, 03:08:32 PM
 #2

Bitcoin is bitcoin and ETH is an altcoin.

It seems that you understand what's the difference between the two.

alejandrosn1998
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July 18, 2018, 07:13:41 PM
 #3

Unlike Bitcoin, the primary purpose of Ethereum isn’t to become an alternative to money or payments. Rather, its purpose is to pay for smart contracts, transaction fees, and other services on the Ethereum network.
Please expound.

By the way, becareful how you define ethereums smart contracts. I would highly suggest a read at this amazing article by Jimmy Song:
https://medium.com/@jimmysong/the-truth-about-smart-contracts-ae825271811f
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July 18, 2018, 07:48:49 PM
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Unlike Bitcoin, the primary purpose of Ethereum isn’t to become an alternative to money or payments. Rather, its purpose is to pay for smart contracts, transaction fees, and other services on the Ethereum network.

It's purpose is determined by the people that use it. Right now, its primary purposes are to invest in ICOs and to breed illustrations of cats.

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July 19, 2018, 06:16:48 PM
 #5

Unlike Bitcoin, the primary purpose of Ethereum isn’t to become an alternative to money or payments. Rather, its purpose is to pay for smart contracts, transaction fees, and other services on the Ethereum network.
Please expound.

Ethereum was created fundamentally for decentralized applications, bitcoin embodies only the idea of a virtual currency. Simply put-bitcoin is the final product that enters the market under the guise of cryptocurrency. Ethereum is a platform and a tool, a programming language, ready to cope with the tasks of blockchain for the functioning of decentralized applications and systems.

If you are talking about bitcoin, you need to understand that it is a cryptocurrency, the team of which is working on honing the functions of the payment method, money transfer. The team of the Ethereum Foundation is committed to providing conditions for third-party development on the ethereum blockchain network, which will later replace the usual server services with distributed ones.

Also, two cryptocurrencies have quite common moments: as well as bitcoin, Ethereum is built on open source code. All transactions in networks are transparent and anonymous. All operations are irreversible and decentralized. Both technologies use a breakthrough achievement that developers were able to come — a distributed network of blockchain, which allowed the previously impossible order of work to become the Foundation for a new type of human interaction.

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July 19, 2018, 06:53:38 PM
 #6

Bitcoin is bitcoin and ETH is an altcoin.

It seems that you understand what's the difference between the two.
Of course it is the basic difference but what about technical aspects, those two coins are completly different between themselfes and their type of moves on market/ plans/ price/ amount of users/ types of pumps and lots of things more are also different.
harizen
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July 19, 2018, 08:07:54 PM
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 #7

Bitcoin is bitcoin and ETH is an altcoin.

It seems that you understand what's the difference between the two.
Of course it is the basic difference but what about technical aspects, those two coins are completly different between themselfes and their type of moves on market/ plans/ price/ amount of users/ types of pumps and lots of things more are also different.

So you want us to really answer the question of OP with a broad, detailed and complete statement?

Didn't you know how much typing it needs to spoonfeed that kind of request and we even didn't know if it will be read or understand by OP. Even telling OP the basic answer won't do. Rather than answering it literally then just tell OP to do research and do some readings. Spend time lurking in the internet.

There are lots of answers OP can get via any search engine internet with that kind of question.

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July 19, 2018, 09:45:23 PM
 #8

Lol, harizen is right. The question is very broad and one that could essentially take a whole essay to explain if one got down to minute details. To help OP embark on his/her 'do your own research' journey, we will leave a link to our blog below on the differences between bitcoin and ethereum. It's at the very least, a good place to start.

http://bit.ly/BTCvsETHvsLTC

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July 20, 2018, 08:16:31 AM
 #9

The most obvious difference is that bitcoin is limited, and Ethereum can be infinitely added!
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July 20, 2018, 09:58:40 AM
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Both are crypto and have almost same function. But bitcoin started earlier and is thus costly.
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July 20, 2018, 05:47:59 PM
 #11

Both are crypto and have almost same function. But bitcoin started earlier and is thus costly.

no, they have different purposes. try to read the previous comments before stating something you don't know.

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July 20, 2018, 07:22:13 PM
 #12

Bitcoin:
Algo - SHA256
ICO - nay

Ethereum:
Algo - Ethash
ICO - yes, amount raised:https://blog.ethereum.org/2014/08/08/ether-sale-a-statistical-overview/

Bitcoin and Ethereum are both capable as a payment method, but I see BTC has a bigger role in B2B payments. As for security; I think BTC is more stable, it never had a hacking incident similar to ETH hard fork

If BTC had a similar incident as mentioned above, please do tell me!
 
The most obvious difference is that bitcoin is limited, and Ethereum can be infinitely added!
Huh
I hope there's a max supply cap. I kept on searching google just to find ETH max supply but it seems it's an infinite supply.
 Huh
only a fool who says supply eth is unlimited or you just know about the world of Crypto

https://coinmarketcap.com/currencies/ethereum/

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July 21, 2018, 06:55:16 PM
 #13

Both offer anonymous transactions, and neither of the two is controlled or regulated by a centralised body. While both bitcoin and ether are cryptocurrencies, the ethereum blockchain is very different from the bitcoin blockchain.
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October 30, 2018, 05:59:34 AM
 #14

Bitcoin aims to become a digital gold-storing medium, and eventually become a globally adopted currency that can repair or replace conventional money to some extent. Ethereum's goal is to be a platform that can be used by smart contracts and decentralized applications.

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October 30, 2018, 06:28:09 AM
 #15

Satoshi Nakamoto aimed Bitcoin to become a digital currency that people can make peer  to peer decentralized payment. Now bitcoin is used as a monetization tool.
Ethereum is created to be a decentralized app platform and now Ethereum is the biggest dapps platform. People use ETH the most in ICO investment.
Teh Kotak
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November 01, 2018, 09:49:56 AM
 #16

Basically similar to Bitcoin, Ethereum is a publicly distributed blockchain network. Although there are many technical differences between Bitcoin and Ethereum, the most important differences are their goals and functions. Bitcoin offers a peer-to-peer electronic money system for Bitcoin payments or transfers. While Ethereum focuses on the blockchain to run a decentralized program, including one payment or Ether transfer.
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November 01, 2018, 04:35:24 PM
 #17

In my opinion, the basic difference between bitcoin and Ethereum is its intended use. While bitcoin is used as a storage medium like gold, and in the future it can also be used as a currency. Ethereum is used as a platform for smart contracts
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