Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[haghdk]

Having been using ETH a lot lately made me think about the use of cryptocurrencies, mainly Bitcoin and ETH and it made me wonder why Bitcoin is the one everyone is taking about and are the one mainly presented with use cases?

I have read many times why cryptocurrencies at the moment can't be used to buy coffee, as an example, because of the fees and the confirmation time - again Bitcoin was set as an example - but in this particular use case, ETH would be a lot better currency. A lot lower fees, and a very fast confirmation time - depending on GAS of course. ETH, as I see it, could be used to buy coffee at f.x. Starbucks, today.

ETH is steadily shifting towards my preferred cryptocurrency - and I am in love the smart contract part.

Is there something I've missed in my long lasting hunt for real time cryptocurrency use cases? :)

 

[KarthikP]

Many don't use ethereum because of so called fees + gas fees. Bitcoin only has a fee. But Ethereum is equally good too , specially Erc20 tokens , but again for transferring Erc20 tokens , you need ethereum gas fees which is very higher at time (0.02 eth+).

 

[Kim. Avetisyan]

Bitcoin has a lower coin supply and is more liquid than Ethereum, but Ethereum has better technology and provides more uses than Bitcoin does. Based on the fact Ethereum has more use cases than Bitcoin — and therefore serves a bigger purpose — I can say that it is indeed an overall better Bitcoin alternative.

By market capitalization, Bitcoin is currently (December 15, 2018) the largest blockchain network, followed by Ripple, Ethereum and Tether.

 

[KarthikP]

Actually many people use Ethereum platform to create their own token like Erc20 token because Ethereum platform works on open source concept . There are millions of Erc20 tokens been created in ethereum platform. So , people do use Ethereum as they use Bitcoin which is the king of cryptocurrency in terms of popularity and it's value.

 

[Brain]

You can't compare Eth with the outstanding crypto which is Bitcoin. People will readily accepts transactions involving Bitcoin than Eth. Bitcoin more recognized and have more value than Eth.

 

[KarthikP]

Nowadays , there are lot of scammers projects that are built on ethereum platform , this doesn't occur in Tron network . Because Ethereum is open source , Bitcoin is the king though .

 

[haghdk]

Nowadays , there are lot of scammers projects that are built on ethereum platform , this doesn't occur in Tron network . Because Ethereum is open source , Bitcoin is the king though .

I have actually experienced more scam on the BTC platform than on ETH.
In the smart contract projects I participate in, I can read the contract and check the risk of a straight out scam ( it is not 100 % proof of course ) - I can't do that on BTC. I have more trust in the ETH projects.

That being said, there is of course a bunch of scams on the ETH platforms. Also a huge amount of straight out Ponzi Schemes.

 

[KarthikP]

I have actually experienced more scam on the BTC platform than on ETH.
In the smart contract projects I participate in, I can read the contract and check the risk of a straight out scam ( it is not 100 % proof of course ) - I can't do that on BTC. I have more trust in the ETH projects.

That being said, there is of course a bunch of scams on the ETH platforms. Also a huge amount of straight out Ponzi Schemes.

You are right too. Ponzi scheme or what we call it as an investment or a hyip site is connected more with Bitcoin and they are 99% scams , scam is everywhere , we need to be extra careful .

 

[shadowangel]

I have read many times why cryptocurrencies at the moment can't be used to buy coffee, as an example, because of the fees and the confirmation time - again Bitcoin was set as an example - but in this particular use case, ETH would be a lot better currency. A lot lower fees, and a very fast confirmation time - depending on GAS of course. ETH, as I see it, could be used to buy coffee at f.x. Starbucks, today.

ETH is steadily shifting towards my preferred cryptocurrency - and I am in love the smart contract part.

Is there something I've missed in my long lasting hunt for real time cryptocurrency use cases? :)

Eth is still far to slow to use, maybe if you had a node or exchange doing the end payment it will be quicker. Paying directly with Eth can sometimes take awhile when the network gets overloaded which it often does.

 

[SCAMEXPOSER]

People use more of bitcoin than ethereum because it is more popular or known by virtually everyone that is new to cryptocurrency, the simplicity of it wallet unlike the ERC wallet that is kinda complex to use.

 

[Balint098]

Can't really beat the king of cryptocurrency that is Bitcoin. Mainly because BTC is the first to emerged, adopted and more known to people.

 

[hellr4izer]

Bitcoin has a legacy it is the first cryptocurrency ever created and it earned its spot and deserves to be the king forever.
No one is really backing bitcoin just the community it unites miners, traders, crypto enthusiasts around the world.
Eth is cool too it is sitting on the second spot next to bitcoin is has more features it can deploy smart contracts, dapps, etc. and has lower fees but bitcoin is the role model.

 

[SCAMEXPOSER]

I doubt if other coins will survive if bitcoin eventually crash cos it bitcoin and others. Some people don't even know about other coins aside bitcoin in the cryptocurrency world. I like ethereum also but not as bitcoin especially as regards to conversion rate to my local currency.

 

[KarthikP]

True that , sir. Bitcoin is an undisputed boss here. And I think ethereum is less used due to reduced popularity. A new cryptocurrency user only knows bitcoin. Takes a few weeks/months to know Altcoins do exist.

Yeah that's very true .When i was first introduced to cryptocurrencies , i knew only bitcoin and it;'s faucet freebitco. Later i came to know about altcoins from people.

 

[SCAMEXPOSER]

These are fundamental facts, it is difficult to convince a newbie to invest in other Crytpo currencies other than bitcoin they will not consider it .It is in the Long run that get to understand it

 

[Wisdom01]

Bitcoin is mostly used so you can't compare it with ethereum , but when it comes to transaction fee and others are I use etherem and other crypto currency coin

 

[UserU]

My boss back in 2016 asked me to create a wallet for myself on blockchain. Then he asked if he should pay me through bitcoin. I refused, straight up. I later delved into cryptocurrency knowledge some months later.

Was your company paying in crypto? I remembered seeing in the news that some companies took the initiative way back in 2018. Those that accepted and HODL for years would finally see the fruit of their labor.

 

[davilajc]

Because btc was the first cryptocurrency and all coins depend on the price of bitcoin. Eth is good but only 2nd est

 

[Wisdom01]

Was your company paying in crypto? I remembered seeing in the news that some companies took the initiative way back in 2018. Those that accepted and HODL for years would finally see the fruit of their labor.

Some companies still pay their staff through crypto currency up till this moment ,only that we don't have record of their number and they are less popular

 

[ascott]

yeah this is a question what im gonna ask from the forum, and what is gas fee in ethereum ? will it rise in future ? hope to buy some eth