Post
Topic
Board Speculation
Re: My Most Insane Prediction of Bitcoin & Ethereum
by
Herbert2020
on 15/06/2018, 07:30:46 UTC
ranking should be based on: usability, adoption, security, innovation, technology, ... instead and in such ranking system ETH falls down out of at least top 10 coins!


I assume you see ETH is worse in usability, adoption, security, innovation, and technology.

Pray tell which are the top 10 cryptos in usability, adoption, security, innovation, and technology?
Honestly, are you really really really really sure that ETH fare worse in usability, adoption, security, innovation, and technology?
Really? Sure?

for the past 3 years that ethereum existed the only usage that it had was smart contracts (something that bitcoin and at least 50 other altcoins also do and some of them do it a lot better). in these 3 years there has been thousands of smart contracts created each more useless than the last. people only buy ETH for speculation or to buy ICOs and gamble.
people also buy bitcoin for speculation but they also buy it because it is a decentralized money and also a secure store of value.
that is usability and adoption for you.

as for security, with the speed that ETH blockchain is growing the nodes will centralize to only a handful of nodes that can handle 1, 2, 10 TB  and growing fast. and that opens ups easy attack surfaces.
there has been a lot of hacks of the main client that the developing team releases and millions have been lost multiple times. latest of them have been the multisignature feature being buggy and $110 million was lost!
as for smart contracts (the only usage of ETH) it is easily exploitable. DAO is the biggest example which was not fixed but instead "rolled back" which also proved that ETH is not Immutable. the worst part is issues similar to DAO happened multiple times after that but there was no "roll back" for them and they were swept under the rug because the foundation never invested in those but they have invested in DAO! immutability may not mean anything to you but it is one of the fundamentals of blockchain technology and without it this technology means nothing.
that's security for you.

as for innovation and technology, all of the ideas that Vitalik used have been either proposed or discussed by bitcoin developers and put down because of the problems they imposed. there is nothing new about ethereum, there is just an interesting idea to allow such a platform for smart contracts, i admit that but with side chains on bitcoin this idea will exist for bitcoin in a much better, efficient and cheaper way!

Many people have a very common thought habit of assuming that a first-mover will forever be the #1, regardless of every other influencing factors.

not it had never have anything to do with being "first mover". and bitcoin is not at all the first mover. there have been other projects (altcoins if you will) before bitcoin was even created. they do not exist today but bitcoin does.