"Bitcoin will remain as premier digital currency, but Ethereum will be used for everything else."

This was mentioned by a member of the Ethereum team.

Thoughts? If acting as a global ledger is one of Bitcoin's 3 main value propositions, how would it play out to have one crypto take one role while the other keeps the other two roles (currency & store of value)? Isn't it more advantageous, for the sake of establishing a single strong and stable crypto currency, to keep all 3 roles under the same hood?

Comments

  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    We don't know how it's going to play out, but the idea of a common language layer for things like MC, MC2, Bitcloud, Ripple, NXT, Counterparty, Bitshares, etc... does make an awful lot of sense. Each project can still very much bring a lot of unique, proprietary stuff and benefit from a common protocol and user base.

    For example, Bitcloud could be built with Ethereum but still maintain its very unique Mesh network and Proof of Bandwidth concepts.
  • gaiagaia Member Posts: 5
    Yes, surely that's the genius of Ethereum. But I was more concerned with having two separate blockchains, one for Ethereum and another for Bitcoin, each serving a different purpose, as being the best case scenario, or not.
  • bjtbjt Member Posts: 17
    I think that's a question the market will answer for us in time. Bitcoin is a p2p network, it will only go away if people stop using it altogether.
  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    I'm not sure where the market will go, but one thing is sure: I can't be the only one running bitmessage, bitcoind, various alt daemons, twister, etc... and thinking : that's a whole lot of chains for just one computer :) Makes sense for the ecosystem to seek aggregation.
  • sneurlaxsneurlax Member Posts: 17
    edited January 2014
    You're not the only one!

    My recommendation is to start building Ethereum-based alternatives to those services now. Make them available as soon as possible after the Ethereum's launch. As bjt mentioned, p2p networks don't stop existing until there are no more peers to peer with--your best bet is to simply provide robust, useful services that people want to... well, use.
  • bjtbjt Member Posts: 17
    An ethereum-based reimplementation of bitmessage is something I could really get behind. I loved the idea of bitmessage but it borrowed so heavily from bitcoin, the whole thing seemed clunky and arbitrary. Hopefully there is some way to create a message-sending system as an Ethereum contract.

    I'm searching high and low for avenues to start playing with the ECLL but have so far found nothing. There seems to be a thorough document describing the language but nothing on how to generate a transaction that contains your code... or how to watch it execute.
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