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Why Ethereum Is Outpacing Bitcoin (venturebeat.com)
Even as Bitcoin hits its all-time high, people's interest in other cryptocurrencies hasn't waned, especially Ethereum. But what makes Ethereum popular among some? From an article on VentureBeat: Despite its recent appreciation in value, as a technology, Bitcoin has stagnated over the last three years. Two rival factions have emerged with violently opposing views on what should be done to allow the Bitcoin network to handle more transactions than it can right now. While Bitcoin has been paralysed by indecision, Ethereum has raced ahead with technology that not only does everything Bitcoin can do faster, in higher volume, and at lower cost -- it does a lot more besides. [...] Bitcoin is really only useful as a store of value. Even then, its usefulness for actually transacting value is limited. In a world where people are used to online payments being confirmed instantly, Bitcoin transactions can take anywhere from tens of minutes to several hours, depending on how busy the network is. It's also expensive -- especially if you're only sending small amounts. The average transaction currently costs about $1.50. Ethereum, on the other hand, was never intended as a Bitcoin competitor. Ethereum is actually a platform for new kinds of decentralized (often financial) applications (dApps) that run on a peer-to-peer network of computers. These dApps are designed to disintermediate the kinds of relationships and transactions for which we have traditionally required things like banks, public registries, and the legal system. For technologists, this is exciting stuff, and a vibrant community of software developers has enthusiastically embraced it. Hundreds of projects, startups, and companies at every scale -- including the likes of Intel, Microsoft, and Samsung -- are building software using Ethereum.
This is a bit bullshittish.
ETH and ethereum are two different things. ETH is a cryptocurrency traded that runs on ethereum.
But saying "Big banks and entire countries are interested in ethereum" does not mean that they are interested in ETH, which people are investing in.
A big bank can hard fork the ethereum protocol for their own internal needs and ETH will not be affected. It won't help ETH, it won't hurt ETH, it will be a second protocol fork used by the bank, or country, or private group for their own purposes.
Don't assume that people interested in ethereum are also interested in buying or trading ETH.
Ethereum is getting a lot of attention because developers think they have a new language to code away every problem. Except, as we already saw with the hard fork and creation of Ethereum Classic, a turing complete language that is bound to *real value* is not safe.
This very important point aside, the devs pre-mined 12 million coins! There are 21 million bitcoins ever. From the start they printed over half of the tokens the bitcoin network has. Then, because actual circulation is low, we have tokens worth $100. Check it out.
https://etherscan.io/stat/supply
https://www.etherchain.org/tx/0x9c81f44c29ff0226f835cd0a8a2f2a7eca6db52a711f8211b566fd15d3e0e8d4
Genesis block makes up still the majority of the network, and they have printed 4.3 times as many tokens as bitcoin will ever have.
This is a straight Tulip pump built on a dangerous promise. We have already seen them roll back the chain once. This can and will happen again.