9 Reasons Bitcoin Will Always Be Better Than Ethereum.
- Ethereum will always have more consensus failures than bitcoin. It has a larger attack surface, and competing implementations.
- Ethereum will always be more risky because they abuse the “default option” power over apathetic nodes. Thus any regulator can just have them make aml/kyc/sec reg a requirement and bye bye efficiency.
- Ethereum will always have more down time than bitcoin, check out 2017 for instance. (see point 1.)
- Ethereum has 3x less reddit users, a couple x less twitter mentions, a few x less wallets, a few x less press, a few x less years of testing, less hardware wallets, less adoption in nearly every way. Where can you spend this “currency?”
- Ethereum tricks developers into losing far more money with “smart” contracts that have bugs, than bitcoin does with accidentally sending change to the miner instead of to a new address.
- Smart contracts will always be dumb as long as you have to trust a signal from the real, non digital world (oracle problem.) If you have to trust any way, then just let the oracle do it all.
- There’s nearly no demand for the Ethereum gas you’re supposed to buy to process transactions, because no one really uses it for computing, it’s just speculative platform utility. Gambling on gambling. Which just got banned in china.
- Their blockchain is bloated. It grows faster than many users can download it. It’s transactions per a second is maybe 3x bitcoin’s. It’s very likely sharding and other solutions will not “work” if you care about immutability/trustlessness.
- Ethereum is more centralized, more risky, loses more of peoples money, down more often, and always will be.
P.S. I know I’ve missed some problems with Ethereum, if you spot them, please comment.
“ Solidity/EVM is by far the worst programming environment I have ever encountered. It would be impossible to write even toy programs correctly in this language, yet it is literally called “Solidity” and used to program a financial system that manages hundreds of millions of dollars.” https://news.ycombinator.com/item?id=14691212
I was wrong about Ethereum because it’s such a good store of value… no wait, let me try again.medium.com
Ethereum is an unsecure, trust-requiring, centralized, mutable platform that runs stoppable apps and censors people…www.reddit.com
Initial Coin Offerings have raised $200 million dollars in 2017. Here is a short list of recent ICOs, and their…hackernoon.com
Disclaiming the misunderstood “marketcaps:” Crypto currency market cap descriptions are comedic. As soon as you…medium.com
“A survey of attacks on Ethereum smart contracts”: http://eprint.iacr.org/2016/1007.pdf