Can Ether become an Independent currency like Bitcoin?

[DashingAgent]

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

[mk4]

While they theoretically can, why though? Ether isn't even created specifically to be a currency. While I don't see any major harm from accepting Ether as a currency, they should definitely focus and prioritize on Bitcoin first; which is specifically made to be a medium of exchange, and is being developed to be better in that category in contrast to Ethereum being developed for other purposes.

Anyway, any source? Couldn't find an article covering Germany announcing Ether as an official currency.

[Slow death]

Can Ether become an Independent currency like bitcoin?

It is very difficult to think of an altcoin created by person X and that person X let altcoin and that altcoin be successful. What I mean by that? altcoins has its creators, so the success of altcoin depends a lot on its creator... if vitalik for example convince governments to use ETH, of course you would see a big adoption of ETH. The success of altcoins depends on their creator and the problem is that many altcoin creators do not focus on trying to convince governments and large companies to use their altcoins.

so the answer to your question is no

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

Is basically what I said, but why would any country adopt ETH? Is the creator of ETH who must convince governments that their altcoin is good

[Tylev]

The term "official currency" is not clear to me. What it is? How does this apply to ethereum? In my opinion, governments will allow the use and circulation of cryptocurrencies on their territory, but they will not actively support them. They do not need them. They have their own national money, which are interconnected with the state economy and they are interested in supporting their own national money. Why would any state support virtual private money or other people's money in general? From the point of view of the state, this makes no sense.

[suzanne5223]

Can Ether become an Independent currency like bitcoin?

It is very difficult to think of an altcoin created by person X and that person X let altcoin and that altcoin be successful. What I mean by that? altcoins has its creators, so the success of altcoin depends a lot on its creator... if vitalik for example convince governments to use ETH, of course you would see a big adoption of ETH. The success of altcoins depends on their creator and the problem is that many altcoin creators do not focus on trying to convince governments and large companies to use their altcoins.

so the answer to your question is no

You're right when you said the success level of an altcoin is determined by the step taking by its creators but a lot of people seems not to understand that ETH holds the dapp/smart contract scheme than been use as payment. However, I think is too early for us to decide as well if ETH could become a which will be legalized by some governments as a medium for exchange cause nothing is impossible for theres chance for that to happen when bitcoin reaches 21 million coins to be mine.

[tabas]

So that's your definition of being an independent currency. To tell you, every coin that seems to be good and verifiable by a gov't body, they can treat it as an independent currency.

The term "official currency" is not clear to me. What it is?

Base on his description, a country that approves to make that coin as official cryptocurrency in use.

[slaman29]

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

So if Japan adopts something it becomes independent by default? No.

Look, I was a big critic of Ethereum for a long time, I stayed away for so long and only got in initially also just to speculate. Put off by the whole centralized thing and the whole ETH=Vitalik. But things changed. They improved. Their vision got clearer and their long term thoughts became apparent. I can change my mind about anything, even about BTC if things develop. But independence only BTC has at the moment. That is the benchmark.

[bonyaserg]

Personally, I believe that Ethereum is already a popular currency. But compared to Bitcoin, Ethereum simply always remains in second place. I believe that in the near future it will be possible to calculate Ethereum as ordinary money.

[JeffBrad12]

Even if they will be adopting ethereum doesn't mean if that thing can make ethereum becomes an independent crypto. An independent crypto must have something that can be used it as a store of value just like bitcoin.
Ethereum will be an independent crypto when it will be backed by the fiat or i can say it's not easy to leave from the bitcoin domination without something that can backed the altcoin and then make it becomes stable and bitcoin can't create an intervention in the process to determine the value.

[whatthesith]

At first Ethereum needs to become decentralized just like Bitcoin. Secondly they need to develop Ethereum 2.0 woth sharding and Plasma technology to compete with the all smartcontracts blockchain platforms and then we can expect a price growth.

[bigcash2011]

Ethereum is already an independent currency, you must know that the second largest number of developers are working on eth network from around the world so eth has no serious competitor in altcoin category. Secondly i do not think that any country will or can officially call any crypto their currency as far as i have learnt China and some other countries are working on their own state owned crypto coins that will be called as state crypto currency.

[Bountyhonter]

Ethereum is already an independent currency and the king of altcoins and the second largest cryptocurrency.

[pishite]

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

Ethereum was created to conduct transactions, the main advantage of which is the support of smart contracts.
Perhaps if other countries want to accept payment on the Ethereum blockchain, it will be something like a token.
With Bitcoin, everything is different since it was created for payment.

[Winscosinally]

Ethereum is been built for different purposes not means of payment if you ask me, Ether isn't made explicitly to be a money. But even if i don't perceive any real hurt from tolerating Ether as a cash,its still never created to be used as a cash,it would be better if they concentrate and organize on Bitcoin instead, which is explicitly made to be a vehicle of trade

[bonyaserg]

Personally, I believe that big changes are taking place in the cryptocurrency market now. And I won’t be amazed that Ethereum will soon be able to take first place among altcoins. And Bitcoin will fall to another place, having lost its leadership among cryptocurrencies. But in order for this to happen, I don’t know what should happen in order for the cryptocurrency market to change rapidly. I think that we now live in the world of the latest technologies in a couple of three years, the whole world of cryptography can change in a completely different direction.

[Jating]

Can Ether become an Independent currency like bitcoin?

The answer is so simple, It is only possible when any country like Japan, US, Germany announces that they are adopting ether as an official currency likewise Japan adopted Bitcoin as an official currency.

Technically, both are really different so there's a possibility that it can run independently. However, if you are looking at trading pairs, then obviously it is still have some relationships on bitcoin.

But I do believed that they have some sort of different investors are well. Bitcoin usually for maximalist and long term holder, while ethereum investors are leaning towards the kind of investment in IEO/ICO and then keep moving their funds across altcoin market.

[Herbert2020]

there are certain things that when done to a cryptocurrency they can never be undone. it is like breaking a glass, you can never fix it. and in cryptocurrency world when an altcoin starts out as centralized it can never become decentralized again, that coin has failed in its start. the only possible outcome for these coins is death.

additionally ETH is not even a "currency" which is another reason why the answer to your question is no. and all those who understand the mechanics of it know that already which is why this token has never been used for anything other than ICO scam and trading speculation for pump and dumps.

[Alisha FR]

additionally ETH is not even a "currency" which is another reason why the answer to your question is no. and all those who understand the mechanics of it know that already which is why this token has never been used for anything other than ICO scam and trading speculation for pump and dumps.

I think it's logical that if you say Ether is not a currency, I think, ether is a platform for altcoin, so it's very different from Bitcoin, bitcoin stands alone in the use of the blockchain network, whereas Ether as a platform will greatly affect other altcoins, the opposite can be said Ether can be influenced by other altcoins, so don't expect Ether to be adopted by a country, even if a country wants to adopt Ether as a currency it will cause inflation, because Ether is very massive on the crypto market.

[mindrust]

Eth is centralized around Vitalik. No country or individual would trust a currency with a leader. Manipulate the leader, manipulate the currency. Nobody can have that.

ETH is good for what it is for, hosting digital assets but don't expect it to become more.

[shiming]

There are still some differences between Ethereum and Bitcoin. Although they are all cryptocurrencies, Ethereum has smart contracts that can do certain functions. I think Ethereum can be summarized as a functional cryptocurrency.