Gold has had at least three millennia to establish itself as a store of value people turn to when social systems are in stress. Bitcoin has only existed for 11 years. While plenty of investors are willing to speculate on the possibility bitcoin might supplant or compete with gold, the idea is far from ingrained across society. When will it be more widely accepted? Perhaps when the international crisis of global leadership unleashed by COVID-19 undermines the capacity of institutions like the Federal Reserve to sustain economic and social confidence. Whatever new institutions and systems we create going forward will need to address how the internet has upended society’s centralized systems of governance. When that happens, we’ll need a decentralized, digital reserve asset as the base value layer. As I said, it will take time. Meanwhile, the developers will keep building.
While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, the two differ technically in many ways. For example, transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. Other differences include block time (an ether transaction is confirmed in seconds compared to minutes for bitcoin) and the algorithms that they run on (Ethereum uses ethash while Bitcoin uses SHA-256).
Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.
Speculators have often pushed the cryptocurrency market forward by merely selling their crypto-assets for fiat profits. However, Ethereum’s budding ecosystem allows for money to be spent and earned within its own internal economy. Although we are still a long way away from maturity, once Ethereum scales, these positive developments will surely accelerate.
The latest saga in the cryptocurrency market and especially that related to the Ethereum is that the leading internet giant Google could have blacklisted “Ethereum” keyword from the company’s Ads platform. This comes after a Serbia –based blockchain startup, Decenter realized that the keyword ‘Ethereum’ can no longer be found on the Google Ads platform. The startup moved swiftly and made an announcement via Twitter where Google responded to the allegations almost instantly:
Welcome to this analysis of ETH/BTC. ETH/BTC has been in an uptrend since February after breaking out of a 6 months long double bottom reversal pattern. Since then it went sideways and consolidated for a bit more than 3 months, from the 8th of February till the 3rd of Jun. The consolidation looks like a symmetrical triangle pattern which is a continuation patter...
COINBASE:ETHBTC has been looking pretty strong lately. On the weekly chart it appears to be one of the leading altcoins (as expected) in trading vs. BTC. The weekly chart has several indicators now trending towards bullish bias. The daily chart that I'm highlighting however is not as clear at this moment. I've circled two areas of interest on the price chart....
So, let’s dismiss claims like those of Ethhub.io co-founder Anthony Sassano. He argued that because bitcoin token transactions on Ethereum deny miners fees they would otherwise receive on the bitcoin chain, bitcoin is becoming a “second-class citizen” to ether. You’d hardly expect people in countries where dollars are preferred to the local currency to think of the former as second class. And just as the U.S. benefits from overseas demand for dollars – via seignorage or interest-free loans – bitcoin holders benefit from its sought-after liquidity and collateral value in the Ethereum ecosystem, where it lets them extract premium interest.
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Ethereum Vs. Bitcoin: What Sets Them Apart? | CNBC