Does Ethereum complement Bitcoin, or replace it?

I know this isn't a question with a yes/no answer- obviously, ethereum has the potential to do either. I'd just be interested to hear what the community thinks on this issue? Do y'all lean one way more than the other? If so, why?

Comments

  • RuneRune Member Posts: 4
    Complement. Ethereum isn't a currency the same way bitcoin is, and you'll probably never see shops "accepting ether" the way you see with bitcoin.
  • GeorgeHallamGeorgeHallam Member, Administrator, Moderator Posts: 229 admin
    Personally, I don't ever see Bitcoin becoming a true currency due to its tumultuous volatility. Really, for a widely used currency you need something with predictable and expected rate changes (which is why gold isn't really used as such today!).

    "But George, doesnt that mean its kind of pointless?" - not at all! I think Bitcoin's true value is as asset like gold/silver, but with the added benefit of being very easily exchanged from one party to another.

    Ethereum then compounds Bitcoin as asset (though the use of smart contracts) which then enable you to then trade in on smart contract based decentralised exchanges, use it easily alongside other tokens of value and even use it to bootstrap worth into a token of value of your own on top of Ethereum.
  • LarsPensjoLarsPensjo SwedenMember Posts: 35
    But there is no technical reason that Bitcoin couldn't be replaced by Ether. On the contrary, a 12s blockchain time could be seen as an advantage.

    There is the network effect, though.
Sign In or Register to comment.