Bitcoin is the digital gold for the cryptocurrency universe atm. It's not really useful anymore for any of its advertised goals - Ethereum is a far better coin for all practical purposes. But since it's the first and it's accepted everywhere, it's going to maintain its dominance. Obv. Bitcoin is also deflationary having a fixed supply.
But really it's really about it being the gateway to the altcoin universe, where actual useful stuff is being built. The Bitcoin Core team has fallen prey to corruption and collusion with miners, unf.
Bitcoin is nonsense, except there are altcoins who are trying to do actually valuable stuff.
Because everybody takes Bitcoin and it's got huge name recognition, it's sort of a gateway to the actual useful stuff.
Bitcoin obviously should have been patched 1 million times already, but the fault on all its issues is on the Bitcoin Core team, who are AWOL and have refused to fix any issue that's relevant for years.
Ethereum processes more transactions per day than Bitcoin. It offers more features. It consumes less power. It's pretty much superior to Bitcoin in every aspect. It would make more sense to run all Bitcoin transactions on Ethereum.
Yes, it is, thanks to Zero Knowledge proofs (and shards in the future), Ethereum will scale to 200K TPS (with proof of stake running 99.98% more efficiently than PoW:
Can you tell me anything about Bancor or bnt that a friend was shilling to me. Is this an altcoin? How do altcoins derive value or are they pretty much considered high risk/high reward gambling?
Bancor is an AMM (automated market maker) exchange. It is a decentralized exchange for trading tokens. Bancor as a protocol earns fees on every trade (just like Coinbase or Binance). It's one of the most popular AMMs and pulls in about $130K per day in fees: https://cryptofees.info/
> Ethereum is a far better coin for all practical purposes
Typical HN/SV response when it comes to Bitcoin. I'll give anyone on here $1000 in BTC/USD/ETH if they document how to run a full node on Ethereum before May 2021. It's impossible to do without state of the art tech and bandwidth.
Bitcoin on the other hand, can be run on a Raspberry Pi, and people can agree on how many Bitcoin exist at ANY time.
How many Ethereum exist right now? Pro tip: Nobobdy can agree
You can export the chaindata at any time and run geth on another OS, AWS is just a convenience because it's easy to spin up and easy to devops. It costs $300/month to run, I'm using it in production and it works great so far. I'm still glad to take your $1,000 if you'd like a full tutorial.
What do you mean people can't agree about the number of ETH? Are you talking about ETH vs ETH Classic?
I don't see why running a full node is such a huge problem. Do you think this means ETH will somehow fail to scale? Seems like the team could solve this eventually, while Bitcoin team hasn't solved anything for a long time.
But really it's really about it being the gateway to the altcoin universe, where actual useful stuff is being built. The Bitcoin Core team has fallen prey to corruption and collusion with miners, unf.