Bitcoin vs Ethereum

Welcome back to the Tribe! In this post we are going to be answering the age old question of Bitcoin vs Ethereum – which is better?

For most people who are in the space, you probably already know what I am going to be talking about, but make sure to stick around and leave a comment if we missed anything for the new comers!

Nothing should be considered investment or financial advice. Enjoy the ride!

Bitcoin vs Ethereum

Many people want to know which of the two top coins on the market are better. A straight forward Bitcoin vs Ethereum comparison would first indicate Bitcoin to be the better coin due to its 100% run time, reputation as the grandfather of crypto, world wide exposure & adoption rate, and of course the simplicity behind it.

Although, there is much more to uncover besides the standard market cap and volume comparisons that would indicate Bitcoin as an early winner.

While most people might not know, Ethereum was actually made from a group of Bitcoin developers and bloggers that were looking for a better solution.

Although, not a solution in the way that most people think. A majority of people still view crypto as only being a “global currency”, while Ethereum is aiming to do something completely different

Main Differences

Here are the main differences that set these coins so apart.

For Bitcoin, the point of the cryptocurrency was to purely become a digital means of payment and store of value. For Ethereum, there was not a similar goal. The main goal of Ethereum was to build out a platform that developers could use for decentralized applications and to launch the Web 3.0 world that we are currently trying to get to.

What this mean is that: Bitcoin’s goal was to be used for payments, while Ethereum’s goal was to be used as a platform to build other things upon.

In fact, the Ethereum coin is really just a way for payments to happen on top of the platform for things we call smart contracts. Long-term, these smart contracts are aiming to be settled on layer 2 solutions for nearly feeless transactions using tokens.

Clearly, there is a huge difference between Bitcoin and Ethereum right off the back.

Another striking difference is the soon to be shift in consensus algorithms. While Bitcoin will forever continue to be a Proof of Work coin (POW), Ethereum is aiming to bridge over to Proof of Stake (POS) with it’s 2.0 right around the corner. This basically means that people will continue to mine Bitcoin to approve transactions, while eventually people will be able to simply stake their ETH to confirm blocks on the blockchain.

Similarities

Now there are obvious similarities across the coins. Here are some of them:

  • Both currently use POW (Eth will change in the future to POS)
  • Both are decentralized projects
  • Each has a respectable market share of the crypto market
  • Investors use both constantly for means of payment across the web
  • ETH and BTC could each be considered stores of value since they are less correlated with the traditional market then most physical assets
  • The projects are both utilizing blockchain technology to store data and transaction information
  • Both projects trade on most exchanges across the space and have huge amounts of exposure due to this
  • Each projects has huge followings and tons of developers working on improvements daily
  • Both are aiming to use layer 2 solutions for near feeless transactions in the future

There are plenty of other things we can mention, but this is a good bit to digest in a small post.

BTC vs Eth

So, the question still stands of which is better?

Well, that depends on your perspective of the market. It is best to think about these assets this way:

Bitcoin is the NEW digital age gold standard. In that way we mean it is the futures safest store of value as gold was in the past. Meanwhile, Ethereum is the new Internet that will be used to build out web applications, decentralized apps, Web 3.0, and so much more. Bitcoin is the new gold, Ethereum is the new internet.

We hope this helps clear things up.

So, when people ask which is better, it is extremely hard to give an answer. It truly depends on if you want to bet on Ethereum succeeding in becoming the new internet, or if you want to bet on Bitcoin continuing to become the new gold standard around the world.

Bitcoin vs Ethereum Post

Thanks for reading our Bitcoin vs Ethereum post! We hope this post helps those new to the market learn about the differences and similarities between the largest projects on the crypto market!

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Cheers