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Comment by sprafa | Hacker News Reader

Bitcoin is the digital gold for the cryptocurrency universe atm. It's not really useful anymore for any of its advertised goals - Ethereum is a far better coin for all practical purposes. But since it's the first and it's accepted everywhere, it's going to maintain its dominance. Obv. Bitcoin is also deflationary having a fixed supply.

But really it's really about it being the gateway to the altcoin universe, where actual useful stuff is being built. The Bitcoin Core team has fallen prey to corruption and collusion with miners, unf.

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> Bitcoin is the digital gold for the cryptocurrency universe atm.

It's digital tulips, not digital gold.

Bitcoin is nonsense, except there are altcoins who are trying to do actually valuable stuff.

Because everybody takes Bitcoin and it's got huge name recognition, it's sort of a gateway to the actual useful stuff.

Bitcoin obviously should have been patched 1 million times already, but the fault on all its issues is on the Bitcoin Core team, who are AWOL and have refused to fix any issue that's relevant for years.

now i'm gonna draw a tulip and sell it as a nft for metahistorical lulz

https://fringe.fandom.com/wiki/White_Tulip

tulips were not scarce

Some varieties were, and are.

The ones involved in the mania were, actually. Those types of tulips don't exist anymore.

Thanks for the laugh :) . I'm of the same mind as you. I think went it goes pop we'll have a minor global depression.

> Ethereum is a far better coin for all practical purposes.

Pretty sure Ethereum scaling as a currency is even worse that bitcoin.

Ethereum has some very interesting features, but performance is not one of them.

The team behind ETH has proven itself to be adaptable. I haven't seen a single issue they haven't at least tried to solve.

I expect them to get better. The Bitcoin Core team is basically not a factor anymore.

Bitcoin is far and above the most scalable cryptocurrency. It just might not be scaling the things you care about.

scalable how? define scalable

Yes, it is, thanks to Zero Knowledge proofs (and shards in the future), Ethereum will scale to 200K TPS (with proof of stake running 99.98% more efficiently than PoW:

https://medium.com/starkware/on-the-road-to-starknet-a-permi...

https://medium.com/matter-labs/zksync-2-0-roadmap-update-zke...

> Zero Knowledge proofs

there's lots of that stuff on the internet to be sure

> Yes, it is

> will

There are some zkRollups already live: https://loopring.org/#/ and https://zksync.io/

They are currently capable of 2K - 10K TPS, which is substantial. But with sharding they'll achieve 200K TPS.

Ethereum processes more transactions per day than Bitcoin. It offers more features. It consumes less power. It's pretty much superior to Bitcoin in every aspect. It would make more sense to run all Bitcoin transactions on Ethereum.

Can you tell me anything about Bancor or bnt that a friend was shilling to me. Is this an altcoin? How do altcoins derive value or are they pretty much considered high risk/high reward gambling?

Bancor is an AMM (automated market maker) exchange. It is a decentralized exchange for trading tokens. Bancor as a protocol earns fees on every trade (just like Coinbase or Binance). It's one of the most popular AMMs and pulls in about $130K per day in fees: https://cryptofees.info/

> Ethereum is a far better coin for all practical purposes

Typical HN/SV response when it comes to Bitcoin. I'll give anyone on here $1000 in BTC/USD/ETH if they document how to run a full node on Ethereum before May 2021. It's impossible to do without state of the art tech and bandwidth.

Bitcoin on the other hand, can be run on a Raspberry Pi, and people can agree on how many Bitcoin exist at ANY time.

How many Ethereum exist right now? Pro tip: Nobobdy can agree

AWS offers a hosted Ethereum node service now. It's pretty simple to set up. I would be glad to walk you through it for $1,000.

> AWS

Not gonna make it... also if you looked into the costs it would lose you money if you took me up on that bet.

I have a better idea: Stacks sats and stay humble.

You can export the chaindata at any time and run geth on another OS, AWS is just a convenience because it's easy to spin up and easy to devops. It costs $300/month to run, I'm using it in production and it works great so far. I'm still glad to take your $1,000 if you'd like a full tutorial.

> You can export the chaindata at any time

Prove it

> I'm still glad to take your $1,000 if you'd like a full tutorial

Post your tutorial on twitter on how to run a full node from scratch, using your own hardware, and I'll give you $1000 to buy some NFT's

What do you mean people can't agree about the number of ETH? Are you talking about ETH vs ETH Classic?

I don't see why running a full node is such a huge problem. Do you think this means ETH will somehow fail to scale? Seems like the team could solve this eventually, while Bitcoin team hasn't solved anything for a long time.

What do you mean people can't agree about the number of ETH?

Look up #SupplyGate on Twitter

> I don't see why running a full node is such a huge problem.

Of course you don't lol

> Do you think this means ETH will somehow fail to scale?

Yes

> Seems like the team could solve this eventually

"Eventually" .... Yeah move fast and break things typical SV logic

> Bitcoin team hasn't solved anything for a long time

Scoreboard

Sure, then, answer your own questions.

#supplygate seems to be a bitcoin-eth debate. I think bitcoin is a dead project, in terms of innovation.

Explain then - what's the issue with lack of full nodes?

How will ETH fail to scale, and why wont a competitor like Algorand or Tezos pick up the mantle?

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